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About Us

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.

 

Company History

 

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.

 

Corporate Philosophy

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

Chairman

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.

 

Board Members

Abdullah Abdulrahman Thaneyan Al Obeikan

Engineer Abdallah Al Obeikan graduated from King Saud University in 1987 as an Electrical Engineer.  Eng. Abdallah is a director of a number of Saudi companies and is CEO of Obeikan Industrial Investment Group.

 

Turki Nasser Mohammed Al Mutawa Al Otaibi

Mr. Al Mutawa graduated from King Saud University in 1224H majoring in business management and marketing. Mr. Al Mutawa has more than 8 years of experience in the field of business and finance, he own up to 95% in the Arab Company for insulation as well as Samama Holding. He was also a board member of Yamama Saudi Cement Company from 2008 till 2012.

 

Eng. Ahmed Abdulkareem

Mr. Ahmed Alabdulkarim graduated from KFUPM with bachelor degree in Civil Engineering. He has a wide experience; more than 34 yrs in engineering consultancy & contracting. He is the founder & President of  (East Consulting Engineering Center), Chairman of Alakarem Contracting & Trading Co., founder member of Federation of Consultants from Islamic Countries (FCIC), member of Al-Majmaah local council, Board Member of Al-Jazirah Press and finally he is board member of PEX company.

Mr. Sameer Ebrahim Al-Wazzan - Board Member and Representing BNI

Mr. Al-Wazzan completed management studies from renowned institutions like Stanford University, California, USA; Manchester Business School - UK and University of Bahrain.

Mr. Al-Wazzan has over 32 years of experience in Insurance Companies and also held roles such as CEO of Solidarity Group, G.M of Bahrain Kuwait Insurance Company, and G.M - UNITAG Group- Bahrain and G.M - National Insurance Company - Bahrain. He was also awarded the honor of Best Insurance Man of the Middle East by the Central Bank of Bahrain (CBB) in 2009.

Abdul Aziz Al-Essa

Mr. Abdul Aziz Al-Essa is a Saudi citizen who graduated from Menlo College, Palo Alto, USA. Majored in International Business Management and that was in 2003. Then he got a Basic Investment Certificate (BIC) from Capital Market Authority in 2005. He earned a degree in strategic management from Harvard School of Management in 2011. He eventually joined the program of Credit Agricole-majored in business (CIB) from Paris in 2013.

Mr. Abdul Aziz has held several positions, in 2010 until 2012 he was a board member of MASC Holding Company, later he held the position of Regional General Director in Fransi Bank. In 2014, he was the Senior Vice President at Riyadh Bank.

CEO and Secretary to the Board

Basem Odeh

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.

 

External Auditors

PKF Al-Bassam & Al-Nemer
Allied Accountants
Riyadh, Saudi Arabia

Abdulaziz A. Alnaim
Certified Public Accountants
Riyadh, Saudi Arabia