Der3 is a registered trademark of and is underwritten by Arabian Shield Cooperative Insurance Company which is regulated by the Saudi Arabian Monetary Agency (SAMA) and the Council for Cooperative Health Insurance (CCHI).
Medical, Motor, Property, Engineering, Marine, Liability and Accident Insurances are provided for both companies and individuals.
Arabian Shield began operations in 1998 when the company, at that time incorporated as a Bahraini Company, was represented in Saudi Arabia by an agent.
Application was made to incorporate a Saudi cooperative insurance company following the licensing and regulation of the insurance industry in Saudi Arabia.
Arabian Shield Cooperative Insurance Company was incorporated in May 2007 as a Saudi Joint Stock Company and was granted a license from SAMA in September 2007 to transact general and medical insurance business in Saudi Arabia. The business previously underwritten by the Bahraini company was transferred to Arabian Shield Cooperative Insurance Company which commenced operations on 1 January 2009.
The corporate philosophy is to provide security and peace of mind to customers by providing superior insurance coverage supported by a strong reinsurance program, an efficient and fast claims settlement process and excellent customer service and advice.
Board of Directors
Prince Sultan Bin Mohammed Bin Saud Al Kabeer
Prince Sultan holds a Bachelors degree in Economics and Political Science from King Saud University, Saudi Arabia.
Prince Sultan is Chairman of a number of companies including Almarai Company, Arabian Union for Cement Industries and Al Tayyar Travel. He is Managing Director of Yamama Saudi Cement Company and a board member of a number of other companies and social and charitable institutions.
Prince Sultan is a founding shareholder of Arabian Shield.
CEO and Secretary to the Board
Mr. Odeh graduated with a bachelor degree in law from the University of Jordan-Amman, he also holds an Insurance Diploma from the Charted Insurance Institute – London. He has over 26 years of insurance experience.
He is serving as Chairman of the Insurance Executive Committee for Saudi Insurance Companies. He chairs also the Executive Committee and is a Board member of Najm Co. Previously, Mr. Odeh was a member of the National Insurance Committee and President of Riyadh Insurance Institute.
PKF Al-Bassam & Al-Nemer
Riyadh, Saudi Arabia
Abdulaziz A. Alnaim
Certified Public Accountants
Riyadh, Saudi Arabia