IHC’s RIQ to provide USD 500 mn in reins. cover for Adnoc: International Holding Company (IHC)’s new reins. platform, Reins. Intelligence Quotient (RIQ), signed an agreement with Abu Dhabi National Oil Company (Adnoc) to provide it with more than USD 500 mn in risk coverage over the next decade, state news agency Wam reports.

The details: RIQ will structure capital-efficient cover across Adnoc’s operational, climate-related, and specialty risks, using AI-driven modelling and analytics to tailor protection for industrial and energy exposures.

REFRESHER- RIQ was launched in May by IHC in partnership with BlackRock and Lunate. Backed by USD 1 bn in equity commitments, the platform spans property and casualty, life, and specialty lines, and is in the final stages of regulatory approval from ADGM’s Financial Services Regulatory Authority to be authorized as a reinsurer.

The bigger picture: With this Adnoc agreement under its belt, RIQ’s committed premiums are set to come in at upwards of USD 1 bn over the coming decade, following IHC’s earlier pledge to transfer USD 500 mn in reins. Premiums through the platform. Ultimately, RIQ has a target of writing USD 10 bn in liabilities per year.

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