International Holding Co. , The largest company listed in Abu Dhabi supervised by a major member of the royal family of the Emirates, and it creates a billion dollar reinsurance project with Blackrock Inc.
The company, which has not yet been named more than a billion dollars of primary stock obligations and aims to manage $ 10 billion of obligations, is supported by partnerships with Blackrock and the director of assets at Abu Dabi, according to a statement.
Its headquarters is located in the financial free zone in Abu Dhabi, ADGM, and the company will be headed by Sultan Al -Jaber – Minister of Industry and Advanced Technology in the field of the United Arab Emirates. It will be led by Mark Wilson, former CEO of Aviva Plc and AIA GROUP LTD.
Blackrock will provide a preliminary investment for the minority and the project will support the management of assets insurance, advisory services and technology. Lunate will act as a partner, as she provides her experiences across public and private markets.
The new company will benefit from artificial intelligence as an essential part of the strategy, which enhances the subscription capabilities by improving the quality and speed of risk assessments.
Blackrock received a commercial license to work in Abu Dhabi last year, and the latest deal to deepen its relations with the emirate.
The company cooperates with MGX in a partnership aimed at building a $ 30 billion data centers and other artificial intelligence infrastructure. Meanwhile, Lunate acquired a stake in Blackrock and KKR & Co. last year.
IHC, MGX and Lunate are part of a vast empire supervised by Sheikh Tahana bin Zayed Al -Nayhane – National Security Adviser in the United Arab Emirates and its brother to its president.
The United Arab Emirates, which Abu Dhabi was the capital, is paying for diversification away from its dependence on oil. It expands to areas such as technology, financing and health care.
A habitat for three sovereign wealth boxes that control approximately $ 1.7 trillion of assets, Abu Dhabi has become a magnet for international investors. At the same time, the United Arab Emirates has pushed global financial giants to create local partnerships to help build a local economy.
