RAK Insurance
 | Company:Ras Al Khaimah National Insurance (RAK Insurance) |
| Date of creation: 1976 | |
| Classes of business: Life and non life | |
| Geographical presence: 4 offices in UAE |
RAK Insurance: contact
| Head office | 6/F RAKBANK Building Al Jazeera, Sheikh Saqr Bin Mohammad Al Qasimi R/18 RAK UAE |
| Phone | +971 800 7254 / 7 227 3000 |
| info [at] rakinsurance [dot] com | |
| Website | www.rakinsurance.com |
RAK Insurance: management
| Chairman of the board of directors | Salem Ali Al-Sharhan |
| CEO | Ewen J. McRobbie |
RAK Insurance: share capital, shareholder’s equity and shareholding
Figures in USD| 2021 | 2020 | ▲ | |
| Share capital | 33 013 000 | 33 013 000 | - |
| Shareholder’s equity | 55 169 000 | 55 281 000 | -0.2% |
| Main shareholders | % | % | |
| The National Bank of Ras Al-Khaimah (P.S.C.) | 79.2 | Ahmed Issa Al-Naeem | 15.3 |
RAK Insurance: turnover and result
Figures in USD
| 2021 | 2020 | ▲ | |
| Turnover | 127 712 000 | 133 879 000 | -4.61% |
| Net result | 2 851 000 | 3 668 000 | 22.27% |
RAK Insurance: turnover breakdown per class of business
Figures in USD| 2021 | 2020 | ▲ | 2021% | |
| Non life (1) | 38 148 000 | 38 284 000 | -0.36% | 29.87% |
| Life and health | 89 564 000 | 95 595 000 | -6.31 | 70.13% |
| Total | 127 712 000 | 133 879 000 | -4.61 | 100% |
(1) Motor and genera insurance
RAK Insurance: main indicators
Figures in %| 2021 | 2020 | ▲ | |
| Loss ratio (1) | 46.8 | 40.12 | 16.65 |
| Management expenses ratio | NA | NA | - |
| Combined ratio (1) | NA | NA | - |
| Shareholder's equity / Technical reserves | 34.11 | 42.86 | -20.42 |
| Shareholder's equity / Gross written premiums | 43.2 | 41.29 | 4.63 |
| Net result / Gross written premiums | 2.23 | 2.74 | -18.61 |
| Net result / Shareholder's equity (ROE) | 5.17 | 6.64 | -22.14 |
Notes:
Net loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
(1) Calculated only for the non life activity.
Exchange rate as at 31/12/2020 : 1 AED = 0.27222 USD ; at 31/12/2021 : 1 AED = 0.27222 USD
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