Ras Al Khaimah National Insurance Company (RAK Insurance) has won the award for Best Corporate Governance in the Middle East for the insurance industry in the Ethical Boardroom Corporate Governance 2015 Awards.
Ethical Boardroom Magazine the leading journal for global governance issues, has recognised RAK Insurance of the United Arab Emirates (UAE) as a regional leader in corporate governance.
The Ethical Boardroom Corporate Governance 2015 Awards reward outstanding companies who have exhibited exceptional leadership in the area of governance to ensure protection and long-term value for all their stakeholders.
All finalists are publicly listed companies that have undergone a thorough analysis of 120 governance factors and extensive scrutiny on governance attributes categorised under four pillars - Board Composition, Board Committees, Shareholder Rights and Transparency.
Andrew Smith, CEO of RAK Insurance, said: "We, at RAK Insurance, are greatly honoured and humbled to be given the accolade of this award. The company has been transformed during the past two years including refocusing our business for greater economic efficiency and being awarded as 'Best Corporate Governance - Insurance - Middle East 2015' is a testament that we are on the right track."
"RAK Insurance has been in the UAE insurance industry for the past 40 years. We continue to withstand tough competition and RAK Insurance is still emerging as a pioneer insurance provider in the UAE. The core values of the company which we uphold until this day serves as our framework in ensuring a balance of the interests of our stakeholders including its shareholders, management, staff, customers, suppliers and the wider community."
