Abu Dhabi – Mubasher: Ras Al Khaimah National Insurance Company (RAKNIC) revealed on Sunday that its board chairman Ahmed bin Saqr Al Qasimi has resigned, according to a filing to the Abu Dhabi Securities Exchange (ADX).

The company added that Roberto Santini also resigned as board member, following another resignation by Ahmed Salem Abdulla Al-Housani.

The board currently includes Ahmed Eissa Al Naeem as vice chairman and Salem Al Sharhan as board member.

RAKNIC previously posted a 3.2% decline in its profits for Q1-15 to AED 14.73 million ($4 million) from AED 15.21 million ($4.14 million) in the same period a year earlier.