Ras Al Khaimah National Insurance (RAK Insurance) said that board member Ahmed Salem Abdulla Al-Housani has resigned from the ADX-listed company.

The resignation is effective as of 9 June 2015, according to a bourse filing.

Ras Al Khaimah National Bank (RAKBank) announced on 28 May that it had completed a 79.23% acquisition of RAK Insurance in a deal worth AED 317 million.

RAKBank purchased a total of 87.154 million shares at AED 3.64 each through a tender offer.