RAK Insurance

During the past 43 years since its establishment in 1974, RAK Insurance has grown significantly from a small local insurance company into a true regional insurance leader.

From its humble beginnings with a fully paid capital of AED 2 million, RAK Insurance has pioneered insurance in the United Arab Emirates emerging as a true regional force with a current paid up capital of AED 110 million and underwrites all major classes of business.

Amidst the global financial markets slowdown, RAK Insurance was able to withstand the market challenges and has remained a competitive player in the insurance field.

The Company’s primary focus is on innovative product development; technological advancement; employees’ learning and development; and building strong partnerships with like-minded companies as suppliers of products or services.

RAK Insurance holds its social responsibility as a core value and firmly believes in transparency and promoting awareness to customers through education.

RAK Insurance has built a solid risk framework and has been a leader in establishing new and robust methods of analysing risk that allows the Company to maintain its position and its partners’ confidence across all market sectors it serves.

As a publicly listed company, RAK Insurance is listed on the Abu Dhabi Securities Exchange and is a founding member of the Arab War Risk Insurance Syndicate (AWRIS) and the Emirates Insurance Association (EIA). The Company also maintains its membership to the General Arab Insurance Federation (GAIF) and the Federation of Afro Asian Insurers and Reinsurers (FAIR).

On May 2015, RAK Bank became its major shareholder with an acquired total shares of 79.23%.