Arabic postal staff -Dubai
The international holding company of Abu Dhabi has joined forces with the American investment giant BlackRock to set up $ 1 billion reinsurance platform with headquarters on the world market of Abu Dhabi. The initiative, which also includes Lunate, an alternative investment manager established in Abu Dhabi, is intended to endorse obligations of more than $ 10 billion and is ready to resha’s worldwide reinsurance landscape.
The still mentioned platform will use a buy-and-build strategy, aimed at acquiring and developing reinsurance options. BlackRock will contribute to expertise in the field of insurance management, advisory services and Aladdin technology platform to the company. Moreover, it is expected that BlackRock will enter into an investment obligation of minorities at the end of the deal.
Lunate’s participation marks his access to the reinsurance sector and extends its investment portfolio above its existing $ 105 billion in assets. The company has actively invested in various sectors, including energy infrastructure and climate financing, as evidenced by the acquisition of a 40% STKE in Adnoc oil pipelines and the establishment of the $ 30 billion Alterra Climate Investment Vehicle.
The cooperation between IHC, BlackRock and Lunate underlines the strategic urge of Abu Dhabi to position itself as a worldwide Hub for financial services and reinsurance. The progressive regulatory framework of the ADGM and the appeal to international financial institutions have made an attractive destination for such companies.
This partnership is the strengths of each entity to a slight small: IHC’s extensive investment portfolio and regional influence, the global asset management capacities of BlackRock and the innovative investment strategies of Lunate. Together they want to meet the growing demand for reinsurance solutions and contribute to the diversification of the financial sector of Abu Dhabi.
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