Announcement • Apr 16
Ras Al Khaimah National Insurance Company P.S.C. to Report Q1, 2026 Results on Apr 23, 2026 Ras Al Khaimah National Insurance Company P.S.C. announced that they will report Q1, 2026 results on Apr 23, 2026 Announcement • Mar 10
Ras Al Khaimah National Insurance Company P.S.C., Annual General Meeting, Apr 02, 2026 Ras Al Khaimah National Insurance Company P.S.C., Annual General Meeting, Apr 02, 2026, at 10:00 Arabian Standard Time. Location: ras al khaimah United Arab Emirates New Risk • Feb 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: د.إ366.3m (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Board Change • Feb 25
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Bernhard Schluep was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Feb 03
Full year 2025 earnings released: EPS: د.إ0.36 (vs د.إ0.13 in FY 2024) Full year 2025 results: EPS: د.إ0.36 (up from د.إ0.13 in FY 2024). Revenue: د.إ338.0m (up 9.4% from FY 2024). Net income: د.إ43.2m (up 180% from FY 2024). Profit margin: 13% (up from 5.0% in FY 2024). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Feb 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Bernhard Schluep was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Jan 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: د.إ352.9m (US$96.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • Jan 19
Ras Al Khaimah National Insurance Company P.S.C. to Report Fiscal Year 2025 Results on Jan 27, 2026 Ras Al Khaimah National Insurance Company P.S.C. announced that they will report fiscal year 2025 results on Jan 27, 2026 Reported Earnings • Oct 22
Third quarter 2025 earnings released: EPS: د.إ0.06 (vs د.إ0.077 in 3Q 2024) Third quarter 2025 results: EPS: د.إ0.06 (down from د.إ0.077 in 3Q 2024). Revenue: د.إ84.9m (up 12% from 3Q 2024). Net income: د.إ7.35m (down 21% from 3Q 2024). Profit margin: 8.7% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 18
Second quarter 2025 earnings released: EPS: د.إ0.11 (vs د.إ0.014 loss in 2Q 2024) Second quarter 2025 results: EPS: د.إ0.11 (up from د.إ0.014 loss in 2Q 2024). Revenue: د.إ84.4m (up 14% from 2Q 2024). Net income: د.إ13.1m (up د.إ14.8m from 2Q 2024). Profit margin: 16% (up from net loss in 2Q 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 14
Ras Al Khaimah National Insurance Company P.S.C. to Report Q2, 2025 Results on Jul 17, 2025 Ras Al Khaimah National Insurance Company P.S.C. announced that they will report Q2, 2025 results on Jul 17, 2025 New Risk • May 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: د.إ360.2m (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 19
First quarter 2025 earnings released: EPS: د.إ0.09 (vs د.إ0.028 in 1Q 2024) First quarter 2025 results: EPS: د.إ0.09 (up from د.إ0.028 in 1Q 2024). Revenue: د.إ81.3m (up 14% from 1Q 2024). Net income: د.إ11.0m (up 223% from 1Q 2024). Profit margin: 14% (up from 4.8% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 11
Ras Al Khaimah National Insurance Company P.S.C. to Report Q1, 2025 Results on Apr 17, 2025 Ras Al Khaimah National Insurance Company P.S.C. announced that they will report Q1, 2025 results on Apr 17, 2025 Announcement • Feb 27
Ras Al Khaimah National Insurance Company P.S.C., Annual General Meeting, Mar 20, 2025 Ras Al Khaimah National Insurance Company P.S.C., Annual General Meeting, Mar 20, 2025, at 10:00 Arabian Standard Time. Reported Earnings • Oct 16
Third quarter 2024 earnings released: EPS: د.إ0.08 (vs د.إ0.044 in 3Q 2023) Third quarter 2024 results: EPS: د.إ0.08 (up from د.إ0.044 in 3Q 2023). Revenue: د.إ76.1m (up 1.6% from 3Q 2023). Net income: د.إ9.28m (up 73% from 3Q 2023). Profit margin: 12% (up from 7.2% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 26
Second quarter 2024 earnings released: د.إ0.014 loss per share (vs د.إ0.037 profit in 2Q 2023) Second quarter 2024 results: د.إ0.014 loss per share (down from د.إ0.037 profit in 2Q 2023). Revenue: د.إ74.4m (up 2.4% from 2Q 2023). Net loss: د.إ1.66m (down 137% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: د.إ0.03 (vs د.إ0.035 loss in 1Q 2023) First quarter 2024 results: EPS: د.إ0.03 (up from د.إ0.035 loss in 1Q 2023). Revenue: د.إ71.1m (up 2.0% from 1Q 2023). Net income: د.إ3.39m (up د.إ7.68m from 1Q 2023). Profit margin: 4.8% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Feb 29
Ras Al Khaimah National Insurance Company P.S.C., Annual General Meeting, Mar 21, 2024 Ras Al Khaimah National Insurance Company P.S.C., Annual General Meeting, Mar 21, 2024, at 07:00 Coordinated Universal Time. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to د.إ3.00, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 12x in the Insurance industry in United Arab Emirates. Total loss to shareholders of 16% over the past three years. Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: د.إ0.12 (vs د.إ0.29 loss in FY 2022) Full year 2023 results: EPS: د.إ0.12 (up from د.إ0.29 loss in FY 2022). Revenue: د.إ289.8m (down 2.0% from FY 2022). Net income: د.إ14.5m (up د.إ49.5m from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: د.إ0.04 (vs د.إ0.068 loss in 3Q 2022) Third quarter 2023 results: EPS: د.إ0.04 (up from د.إ0.068 loss in 3Q 2022). Revenue: د.إ74.9m (flat on 3Q 2022). Net income: د.إ5.36m (up د.إ13.6m from 3Q 2022). Profit margin: 7.2% (up from net loss in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Board Change • Aug 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Bernhard Schluep was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 26
Second quarter 2023 earnings released: EPS: د.إ0.037 (vs د.إ0.11 loss in 2Q 2022) Second quarter 2023 results: EPS: د.إ0.037 (up from د.إ0.11 loss in 2Q 2022). Revenue: د.إ72.7m (flat on 2Q 2022). Net income: د.إ4.44m (up د.إ18.3m from 2Q 2022). Profit margin: 6.1% (up from net loss in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
First quarter 2023 earnings released: د.إ0.04 loss per share (vs د.إ0.04 loss in 1Q 2022) First quarter 2023 results: د.إ0.04 loss per share (in line with 1Q 2022). Revenue: د.إ576.4k (down 99% from 1Q 2022). Net loss: د.إ4.28m (loss narrowed 11% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 21
Full year 2022 earnings released: د.إ0.29 loss per share (vs د.إ0.086 profit in FY 2021) Full year 2022 results: د.إ0.29 loss per share (down from د.إ0.086 profit in FY 2021). Revenue: د.إ292.0m (down 6.0% from FY 2021). Net loss: د.إ35.0m (down 434% from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Raheel Ahmed was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Third quarter 2022 earnings released: د.إ0.07 loss per share (vs د.إ0.032 profit in 3Q 2021) Third quarter 2022 results: د.إ0.07 loss per share (down from د.إ0.032 profit in 3Q 2021). Revenue: د.إ74.6m (down 1.6% from 3Q 2021). Net loss: د.إ8.29m (down 314% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Aug 22
Ras Al Khaimah National Insurance Company Announces CEO Changes Ras Al Khaimah National Insurance Company (RAK Insurance) has announced the resignation of Ewen John McRobbie from his position as the company's CEO. McRobbie submitted his resignation, which came to effect on 18 August 2022, due to personal reasons, according to a bourse disclosure. Meanwhile, the UAE-based firm appointed Sanjeev Badyal as the Acting CEO. Holding a Bachelor's degree in Commerce, the new official served as the Assistant CEO of Qatar General Insurance and Reinsurance Company. Reported Earnings • Aug 12
Second quarter 2022 earnings released: د.إ0.11 loss per share (vs د.إ0.042 profit in 2Q 2021) Second quarter 2022 results: د.إ0.11 loss per share (down from د.إ0.042 profit in 2Q 2021). Revenue: د.إ72.3m (flat on 2Q 2021). Net loss: د.إ13.8m (down 372% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Aug 07
Ras Al Khaimah National Insurance Company P.S.C. to Report Q2, 2022 Results on Aug 08, 2022 Ras Al Khaimah National Insurance Company P.S.C. announced that they will report Q2, 2022 results on Aug 08, 2022 Reported Earnings • May 15
First quarter 2022 earnings released First quarter 2022 results: Revenue: د.إ73.1m (down 13% from 1Q 2021). Net loss: د.إ4.81m (down 257% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. Announcement • May 12
Ras Al Khaimah National Insurance Company P.S.C. Appoints Mr. Amjad Al Hayek as Head of Legal Department Ras Al Khaimah National Insurance Company P.S.C. announced the appointment of Mr. Amjad Al Hayek as Head of Legal Department. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Raheel Ahmed was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 15
Upcoming dividend of د.إ0.08 per share Eligible shareholders must have bought the stock before 22 April 2022. Payment date: 14 May 2022. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Emirian dividend payers (5.8%). Lower than average of industry peers (6.0%). Reported Earnings • Feb 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: د.إ0.086 (down from د.إ0.11 in FY 2020). Revenue: د.إ310.4m (down 21% from FY 2020). Net income: د.إ10.5m (down 22% from FY 2020). Profit margin: 3.4% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS د.إ0.03 (vs د.إ0.045 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: د.إ78.7m (down 20% from 3Q 2020). Net income: د.إ3.88m (down 29% from 3Q 2020). Profit margin: 4.9% (down from 5.6% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • May 10
First quarter 2021 earnings released: EPS د.إ0.03 (vs د.إ0.004 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: د.إ84.0m (down 23% from 1Q 2020). Net income: د.إ3.06m (up د.إ2.62m from 1Q 2020). Profit margin: 3.6% (up from 0.4% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment deteriorated over the past week After last week's 19% share price decline to د.إ3.05, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 10x in the Insurance industry in United Arab Emirates. Total loss to shareholders of 5.4% over the past three years. Is New 90 Day High Low • Mar 02
New 90-day high: د.إ3.75 The company is up 3.0% from its price of د.إ3.64 on 30 November 2020. The Emirian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is flat over the same period. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS د.إ0.11 (vs د.إ0.029 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: د.إ397.2m (up 4.0% from FY 2019). Net income: د.إ13.5m (up 281% from FY 2019). Profit margin: 3.4% (up from 0.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 08
New 90-day low: د.إ3.29 The company is down 5.0% from its price of د.إ3.45 on 10 November 2020. The Emirian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 01
New 90-day high: د.إ3.45 The company is up 15% from its price of د.إ3.00 on 03 August 2020. The Emirian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 12% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of د.إ14.2m, up 70% from the prior year. Total revenue was د.إ408.2m over the last 12 months, up 16% from the prior year. Announcement • Aug 16
Ras Al Khaimah National Insurance Company P.S.C. to Report Q2, 2020 Results on Aug 18, 2020 Ras Al Khaimah National Insurance Company P.S.C. announced that they will report Q2, 2020 results on Aug 18, 2020