RAK Insurance Company

Ras Al Khaimah National Insurance Company (RAK Insurance) has grown significantly since its establishment in 1974, starting with a paid-up capital of AED 2 million and expanding to AED 121,275,000. Guided by its vision to offer "Simply Better" insurance solutions, RAK Insurance is committed to being a leading customer-focused insurer in the UAE. The company aims to provide convenient access to innovative and competitive insurance products for both individuals and businesses through multiple channels.

RAK Insurance's mission is to achieve a balanced risk profile that promotes resilience and deepens customer loyalty. This is supported by an engaged and goal-oriented workforce. As one of the oldest insurers in the country, RAK Insurance continuously strives to develop and enhance its product offerings, creating additional value for its customers. Recognizing the importance of digital transformation, the company has heavily invested in its mobile app and online portal to provide customers with easy access to products, services, and claims management.

Despite the competitive and fluctuating insurance market in the UAE, RAK Insurance has maintained a strong financial position. This stability is attributed to effective stakeholder management, robust governance, and a team of qualified professionals. These strengths have enabled the company to achieve consistent year-on-year premium growth and earn a Standard & Poor’s rating of BBB+ with a Stable outlook.

RAK Insurance is committed to sustainable growth and continuous improvement. This includes ongoing investments in enterprise risk management (ERM), staff engagement, development, and support for the Emiratisation program, which focuses on integrating UAE Nationals into the workforce. With RAKBANK as its major shareholder, RAK Insurance has embarked on a rebranding initiative to reflect this special relationship. The "Simply Better" approach is designed to foster product and service innovations, stimulate growth, and create new revenue streams.

RAK Insurance remains dedicated to enhancing customer satisfaction and meeting the evolving needs of its valued clients across the UAE through continuous improvement and innovation.