RIQ to provide USD 500 mn in risk coverage for IHC: Abu Dhabi’s International Holding Company (IHC) is transferring some USD 500 mn in reins. premiums to its new subsidiary, Reins. Intelligence Quotient (RIQ) over the next decade, according to a press release. The transaction — which will be the first for RIQ — is subject to regulatory approval.

ICYMI- RIQ is IHC’s AI-native reins. platform that it launched last May in collaboration with BlackRock and Lunate. Backed by USD 1 bn in equity commitments with a target of writing USD 10 bn in liabilities per year, it is currently working towards securing regulatory approval within the ADGM, where it will operate as a reinsurer once licensed.

IN OTHER INS. NEWS-

The ADGM has established the Association of Reins. (ARIA), the UAE’s first dedicated platform for the reins. sector, according to a press release. The initiative is backed by the Financial Services Regulatory Authority (FSRA), and open for firms and individuals working in the sector in the Emirates and elsewhere to join, the statement reads.

The mandate: ARIA will act as a central forum for market participants, regulators, and service providers, aiming to boost sector-wide collaboration and knowledge sharing. It will focus on developing the competitiveness of the UAE’s ins. market and financial ecosystem to bring in more investment.

Who is involved so far? The association’s founding members include Abu Dhabi Reins. Company, Fidelis Opco, Aon Management Services, Dubai-based ins. specialist Afroditi Boura (LinkedIn), and Meridiem Group’s Oussama Kaissi (LinkedIn). ARIA will also serve as a channel between international players and ADGM’s financial ecosystem.

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