RIQ and Swiss Re team up to boost Abu Dhabi's role in global insurance

Abu Dhabi reinsurance platform RIQ and Swiss Re have teamed up to boost the emirate's position in the global insurance industry.

The companies will develop a globally-connected reinsurance platform in Abu Dhabi, powered by RIQ's platform that integrates artificial intelligence and advanced analytics to improve insurance services, RIQ said.

The partnership aims to boost client services such as underwriting accuracy, capacity deployment and investment management.

The agreement was signed at Abu Dhabi Finance Week by RIQ chief executive Mark Wilson and Swiss Re group chief executive Andreas Berger, in the presence of Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and chairman of RIQ.

Dmitry Balyasny on Abu Dhabi expansion, AI agents and 2026 outlook

15:12

“AI is one of the major global trends driving economic transformation. It is a key engine for enhancing the efficiency, resilience and adaptability of global systems,” Dr Al Jaber said.

The deal with Swiss Re “will help support sustainable economic growth and reinforce Abu Dhabi’s position as a leading global centre for advanced and innovative solutions in risk management and reinsurance”, he added.

The partnership aims to deepen Zurich-based Swiss Re’s engagement in the UAE.

“By combining our joint capabilities with the region's strong innovation drive and vibrant insurance market, we can explore novel risk-transfer instruments, creating new ways to support our clients through peak risks,” Andreas Berger, group chief executive of Swiss Re, said.

RIQ was launched in May this year by Abu Dhabi conglomerate IHC in partnership with the world's biggest asset manager BlackRock and alternative investment management company Lunate as a $1 billion reinsurance company.

It will be based in ADGM and will offer a full suite of reinsurance solutions.

In September, Abu Dhabi energy company Adnoc also signed an agreement with RIQ aiming for an allocation of over $500 million in risk coverage within the coming decade.

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company%20profile

%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A

The%20Genius%20of%20Their%20Age

%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A

What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."