Collaborate "ADNOC" and"RIC" At a value of $ 500 million in the field of artificial intelligence reinsurance
Abu Dhabi, September 3/ WAM/ RIC Insurance announced the reinsurance platform based on artificial intelligence designed specifically to keep pace with the future of risk transfer at the global level and one of the companies affiliated with the global holding company, signing a strategic cooperation agreement with ADNOC, to develop a preferential partnership in the field of reinsurance with the aim of covering risks that exceed $ 500 million during the next decade.
The RIC will take the platform that was launched earlier this year by the global holding company in partnership with Black Rock and “Lunite”, from the Abu Dhabi Global Market, as it will offer an integrated set of reinsurance solutions.
Under the agreement, RIC will work closely with ADNOC to design more efficient insurance solutions in capital customization, including complex operational risks and climate -related risks, as well as specialized risk categories.
The platform benefits from advanced data for data, enhanced insurance subsidies with artificial intelligence and advanced analytical capabilities, to meet the growing requirements of the risk reinsurance sector.
Cooperation with ADNOC, along with the strategic alliance between RIC and the recently Holding Global Company, contributes to laying the foundations for a joint orientation to reach obligations with reinsurance installments of more than one billion dollars via the RIC platform during the next decade.
These partnerships reflect the growing position of Abu Dhabi as a global center for the next generation of advanced reinsurance solutions, which combines smart capital, technologies and structural solutions to risk management.
RIC is currently continuing to complete the regulatory procedures in preparation for obtaining the official license as a reinsurance company.
“This partnership contributes to enhancing the operational flexibility of” ADNOC ‘operations through the possibility of designing reinsurance solutions in line with the changing nature of industrial and climate risks.
He added that the use of the “RIC” platform will enable ADNOC reinsurance “to enhance its ability to manage risks and contribute to ensuring the continuity of its business in light of the accelerating changes in the global energy sector scene.
For his part, Mark Wilson, CEO of the RIC platform, expressed his happiness in cooperation with ADNOC, the leading company that is characterized by its aspirations and long -term vision, adding that through the newly concluded partnership with the International Holding Company, this alliance combines the latest technologies, strategic capital and specialized expertise to reformulate the future of reinsurance from Abu Dhabi to the world. These partnerships are an ambitious step towards building a future reinsurance platform.
In the coming months, it is expected to announce more about strategic developments, as “RIC” continues to implement its global growth -based strategy through acquisition and development.
Based on more than a billion dollars of capital obligations from the International Holding Company and the two strategic partners “Black Rock” and “Lunite”, in addition to its infrastructure based on artificial intelligence, RIC aims to issue reinsurance documents of $ 10 billion annually, to redefine the future of the reinsurance sector through the capabilities of artificial intelligence and the expansion and volume of business and approach Similar strategic.
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