Abu Dhabi – Mubasher: Ras Al Khaimah National Insurance Company (RAK Insurance) turned profitable in the second quarter of 2017, according to a bourse statement.

Profits reached AED 8.3 million ($2.3 million) in Q2-17, against losses of AED 2.4 million ($65,000) in Q2-16.

The company reported profits of AED 12.4 million in the first half of 2017, up 226% from AED 3.8 million in the prior-year period.

Claims incurred fell to AED 46.3 million in Q2-17, compared to AED 53.1 million in Q2-16.

Insurance premium income rose to AED 72.2 million in Q2-17, compared to AED 68.3 million in Q2-16.