Ras Alkhaima National Insurance Co.
AADX:RAKNIC2.97
AED
0.00
(0.00%)
ISIN
AER000501018
Return %
Stock
S&P 500
1Y
-7.19
14.20
3Y
-19.73
81.12
5Y
-15.14
68.34
Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Sanjeev Badyal
- Sector
- Finance
- Industry
- Multi-line insurance
- Address
- Ras Al-Khaimah United Arab Emirates
- IPO Date
- Jul 3, 2005
- Website
- rakinsurance.com
- Similar Companies
- Business
- Ras Al Khaimah National Insurance Company P.S.C. (RAK Insurance) is a United Arab Emirates-based composite insurance company engaged in the provision of conventional multi-line insurance solutions and risk management services to individual, small-to-medium enterprise (SME), and large corporate clients. The company operates through two core business segments: Life and Medical, and General and Motor. Its comprehensive product and service portfolio encompasses personal lines, including comprehensive and third-party liability motor insurance; individual, family, and domestic worker medical insurance plans with regional and international healthcare network coverage; term life, critical illness, and personal accident policies; homeowners and tenants property contents coverage; and international travel insurance. In the commercial sector, the company provides group medical and employee benefits schemes; commercial property all-risk and business interruption coverage; marine cargo, hull, and inland transit insurance; engineering, contractor all risks, and erection all risks policies; commercial motor fleet protection; professional indemnity, directors and officers liability, general third-party liability, and cyber risk protection; and workmen's compensation and employer's liability insurance. In recent operational and strategic developments, RAK Insurance has focused on accelerating its digital transformation strategy through the deployment of enhanced online customer portals, automated digital claims processing platforms, and mobile applications for policy servicing. The company has also deepened its bancassurance partnership and cross-selling synergies with its majority shareholder, The National Bank of Ras Al Khaimah (RAKBANK), which maintains a 79.23% controlling stake, while expanding specialized SME insurance packages and implementing IFRS 17 regulatory and accounting reporting standards to enhance capital efficiency and underwriting performance. Founded in 1978 and headquartered in Ras Al Khaimah, United Arab Emirates, RAK Insurance is regulated by the Central Bank of the UAE, listed on the Abu Dhabi Securities Exchange under the ticker symbol RAKNIC, and operates a branch network spanning Ras Al Khaimah, Dubai, Abu Dhabi, and Sharjah.