Motor Insurance

January 20, 2012 Recent News

Motor Vehicle Insurance Policy provides comprehensive protection against loss or damages to the motor vehicle itself due to accident, as well as coverage for the driver and associated legal liabilities for death or bodily injuries and/or damages to other persons’ properties.

Home Insurance!

January 20, 2012 Bands

Protect the things that are important to you while you're away and while you travel. Protect your home contents from loss, damage or theft.

Travel Insurance

January 20, 2012 Bands

The Travelpolicy covers unexpected incidents during your travel and can include coverage of Emergency Medical Expenses, death, repatriation of mortal remains or repatriation following unforeseen incidents, loss of luggage, etc.

Marine Insurance

January 20, 2012 Reviews

This policy covers Cargo whilst in Transit through Air, Sea or Land including intermediate storage. The cover can be provided on All Risk Basis or Restricted cover or extension like cover against risk of war, strikes etc.i

Monday, 8 September 2014

RAKBank to acquire RAKNIC

Dubai: RAKBank will acquire majority stake in Ras Al Khaimah National Insurance Company ( RAKNIC ) following approval from the bank’s shareholders.
Shareholders voted in favour of the bank buying a majority stake at Dh3.64 per share during its ordinary general assembly held on Monday at the bank’s headquarters in Ras Al Khaimah. The acquisition will be done through an offer to all shareholders of RAKNIC .
Founded in 1974, RAKNIC is an insurance provider listed on the Abu Dhabi Securities Exchange (ADX) and has a full license to issue general and life policies of Conventional Insurance.
“We see a tremendous opportunity for growth in the bank’s business by diversifying into complementary industries, particularly the local insurance market. The Bank has undertaken a high level assessment of the value that could be created over the coming few years through the acquisition, and we believe the Bank can increase income streams, enhance our market presence, and create additional value for our shareholders.” said Peter England, CEO of RAKBank .
The acquisition is still subject to approval by the Central Bank and the Insurance Authority.