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, Accident, Protection and Savings 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
Basem Odeh - Chief Executive Officer
Mr. Odeh graduated with a bachelor degree in law from the University of Jordan-Amman, he also holds an Insurance Diploma from the Chartered Insurance Institute – London. He has over 30 years of insurance experience.
He served as Chairman of the Insurance Executive Committee for Saudi Insurance Companies for three consecutive terms. He was also a Board member of Najm Company for 9 years. Previously, Mr. Odeh was a President of Riyadh Insurance Institute, and member of the national insurance committee in the council of Saudi chambers. Mr. Basem works for the Arabian shield cooperative insurance since it founded as a Bahrain company in 1998. And become the General Manager of the Company since 2007 when it has registered as a Saudi public listed Company.
Al-Azem & Al-Sudairy CPA's (CROWE Global)