Abu Dhabi National Oil Company (ADNOC) has signed a strategic collaboration with RIQ, the AI-driven reinsurance platform launched by International Holding Company (IHC), in a deal aimed at developing a preferred reinsurance partnership worth more than USD 500 million in risk coverage over the next decade.
RIQ, established earlier this year by IHC alongside BlackRock and Lunate, is headquartered in Abu Dhabi Global Market (ADGM). The platform provides a broad range of reinsurance solutions and applies AI-augmented underwriting, advanced modelling, and analytics to address the challenges of modern risk management.
Through this new partnership, RIQ will work with ADNOC to design capital-efficient cover across a spectrum of risks, including complex operational exposures, climate-related threats, and specialist risk classes.
The collaboration builds on RIQ’s recent agreement with IHC, creating a combined trajectory of more than USD 1 billion in reinsurance premiums committed through the platform over the next ten years. It marks a significant step in Abu Dhabi’s positioning as a global hub for reinsurance, blending technology, capital, and advanced risk solutions.
RIQ is currently moving through the regulatory process as it seeks full authorisation as a reinsurer.
Ahmad Khalfan Al Mansoori, Chairman of ADNOC Re., said: “This partnership will enhance ADNOC’s operational resilience by tailoring reinsurance solutions to evolving industrial and climate risks. Leveraging RIQ’s AI-powered platform will strengthen our risk management capabilities and ensure continuity in a complex energy landscape.”
Mark Wilson, CEO of RIQ, commented: “We are honored to collaborate with ADNOC, an organization renowned for its ambition and long-term vision. Together with our recent partnership with IHC, this alliance brings together cutting-edge technology, strategic capital, and domain expertise to redefine global reinsurance from Abu Dhabi outward. These relationships signal a bold step in building the reinsurance platform of the future.”
RIQ has already secured over USD 1 billion in equity commitments from IHC, BlackRock and Lunate, and aims to expand significantly in the years ahead. Its long-term goal is to write USD 10 billion in annual premiums, supported by its AI-native infrastructure and buy-and-build strategy.
