Abu Dhabi – Mubasher: Abu Dhabi Global Market (ADGM) and Abu Dhabi National Insurance Company (ADNIC) on Monday signed a memorandum of understanding (MoU) to collaborate in promoting the insurance-related Finanical Technology (Fin-Tech) ecosystem development in Abu Dhabi.

Under the MoU, ADGM and ADNIC will collaborate on a range of technology-related initiatives that help support entrepreneurs, start-ups and technology firms, which are active in the insurance sector, according to a company statement.

“By engaging with entrepreneurs and start-ups, we are tapping into an innovative technological ecosystem and nurturing our entrepreneurial culture,” said, ADNIC CEO Ahmad Idris.

“We look forward to leveraging the industry know-how and extensive market experience that ADNIC can provide, to identify and create initiatives that serve the needs of Abu Dhabi and the UAE,” Richard Teng, ADGM’s CEO commented.