Abu Dhabi – Mubasher: Financials for Ras Al Khaimah National Insurance Company (RAKNIC), listed on the Abu Dhabi Securities Exchange (ADX), reveal a rise in net profits by 16.6% to AED 37.8 million ($10.2893 million) compared to AED 32.85 million ($8.94323 million) by the end of 2013.

Earnings per share (EPS) rose to AED 0.34 against AED 0.33 the year before, an increase by three percent.

Income from investment rose 5.31% to AED 8.36 million against AED 8 million in 2013.

Profits for the fourth quarter leaped 166% to AED 4.4 million against AED 1.65 million in Q4-13.

RAKNIC had reported a net profit of AED 33.6 million ($9.147 million) during the first nine months of 2014 compared to AED 31.2 million ($8.494 million) during the same period the year before, registering an increase by 7.7%.

RAKNIC’s capital amounts to AED 110 million divided on 110 million shares at par value AED 1 per share.