Abu Dhabi – Mubasher: Ras Al Khaimah National Insurance Company (RAKNIC) reported strong net profits for the first half of 2015, reaching AED 19.7 million ($5.3 million), recording massive growth of 233% compared to AED 5.9 million ($1.6 million) in the same period of 2014, according to a filing to the Abu Dhabi Securities Exchange (ADX).

Earnings per share (EPS) grew to AED 0.18 in H1-15, up from AED 0.05 in H1-14.

The insurance firm previously posted a 3.2% decline in profits in Q1-15 to AED 14.73 million, compared to AED 15.21 million in the same period the year before.