The Abu Dhabi Investment Office (ADIO) and Prudential Financial Corporation (PFI) have signed a strategic cooperation agreement to expand Abu Dhabi’s reinsurance capabilities as well as long-term investments, retirement savings and income.
PFI has joined Abu Dhabi’s FinTech, Insurance, Digital and Alternative Assets (FIDA) Cluster, a strategic initiative led by the Abu Dhabi Department of Economic Development (ADDED) and ADIO to pioneer the next generation of financial solutions in Abu Dhabi.
The partnership focuses on strengthening the emirate’s insurance and reinsurance capabilities while introducing new investment management, retirement savings and income vehicles capable of servicing institutional and individual clients.
PFI has a strong global track record in two key areas: asset management (through its global investment management business PGIM) and leading capabilities in life insurance, retirement and longevity risk management (delivered through its insurance subsidiaries).
It has a diverse client base including individual investors, SMEs, multinational corporations and pension funds.
The partnership will enable PFI to expand its operations in Abu Dhabi by leveraging the emirate’s modern, pragmatic regulatory environment, global connectivity and access to regional capital.
ADIO and PFI will work together to deepen collaboration with local financial institutions and develop financial products tailored to regional needs, such as scalable investment and retirement solutions designed for the UAE and wider GCC markets.
The collaboration will also support the design of income and reinsurance strategies to enhance financial security, improve risk resilience and adopt global best practices.
His Excellency Badr Al-Olama, Director of the Abu Dhabi Investment Office, said: “Through our partnership with PFI, we are driving the development of portable savings systems, deepening reinsurance capabilities and creating the financial architecture of the Falcon Economy.
“FIDA brings together a complete ecosystem, from regulators and global institutions to universities and innovators, to ensure Abu Dhabi becomes a launchpad for the next generation of financial solutions that not only support the emirate’s economic transformation but also create long-term impact across the region and beyond.”
PFI and ADIO will also focus on strengthening Abu Dhabi’s financial sector expertise. They will work with universities, research institutions and academic institutions to promote talent development in key areas such as insurance, risk management and financial planning, which are vital to the industry’s enduring resilience and competitiveness.
The partnership aims to promote cross-border engagement and establish Abu Dhabi as a regional and international center for insurance innovation.
Integrating PFI’s global expertise in retirement, insurance, reinsurance and asset management aims to expand Abu Dhabi’s access to global best practices and support the growth of its financial services exports.
Dylan Tyson, Head of PFI’s Global Retirement Center of Excellence, commented: “We are honored to have the opportunity to collaborate and help advance Abu Dhabi’s forward-thinking approach to financial innovation, further connecting PFI’s global legacy of U.S. market leadership in the West with the strength of our Japanese businesses in the East.
“PFI’s Retirement and Reinsurance business is committed to working with ADIO and with PGIM to develop systems and solutions that support families, institutions and the economy for generations to come.”
Mohammed Abdulmalek, head of PGIM Middle East, said: “We believe this exciting work leveraging PFI’s capabilities, coupled with PGIM’s asset management expertise and current work in the region, will help drive further growth, economic development and financial security in Abu Dhabi.
“Building on our existing partnership with ADIO and our innovative platform RealAssetX, this reinforces our commitment to deepening collaboration and delivering innovative solutions to strengthen the emirate’s financial ecosystem.”
