Arabian Shield Cooperative Insurance Company is one of the cooperative insurance providers in the Kingdom of Saudi Arabia. Established in May 2007, the company delivers a wide range of insurance services for both individuals and businesses. It operates under the supervision of the Saudi Central Bank (SAMA) and the Council of Cooperative Health Insurance (CCHI).
In June 2007, the company was listed on the Saudi Stock Exchange (Tadawul) under the number 8070 and the name Arabian Shield. The company is headquartered in Riyadh City and has a share capital of approximately SAR798 million.
History
The origins of Arabian Shield date back to 1998, when it first entered the Saudi market as a Bahraini insurance company, operating through a local agent. Following the promulgation of the Implementing Regulations for Licensing and Governing the Insurance Sector in Saudi Arabia, the company initiated procedures to establish itself as a Saudi cooperative insurer.
In September 2007, Arabian Shield Cooperative Insurance Company was officially licensed by SAMA to engage in general and medical insurance. By January 1, 2009, the previously subscribed shares were transferred from the Bahraini parent company to the Saudi entity, enabling Arabian Shield to begin its operations as a fully licensed cooperative insurance provider.
Corporate Insurance Solutions
Arabian Shield Cooperative Insurance Company provides a comprehensive set of insurance products tailored for companies, including:
- Property Insurance: Coverage against risks, damages, and loss of profit.
- Contractors’ Risk and Installation Risk Insurance: Protection for construction and installation projects.
- Machinery and Equipment Insurance: Coverage for breakdown, loss, or damage.
- Group Insurance Products: Employer liability, employee compensation, dishonesty, group life insurance, and personal incident coverage.
- Vehicle and Marine Insurance: Private and commercial vehicle insurance (comprehensive and third-party liability), marine and cargo insurance for goods in transit.
- Group Credit Insurance: Protection against defaults and credit risks for businesses.
These offerings support the operational security of enterprises across multiple industries in Saudi Arabia.
Individual Insurance Solutions
For individual clients, Arabian Shield Cooperative Insurance Company provides diverse insurance solutions, such as:
- Comprehensive and Compulsory Motor Insurance
- Health Insurance
- Travel Insurance
- Medical Malpractice Insurance
- Personal Incident Insurance
- Contractors’ Risk Insurance (for small-scale projects)
- Visitor Visa Extension Insurance
- Craftsmen Insurance
These products are designed to safeguard individuals against unexpected financial burdens caused by accidents, health emergencies, travel risks, and other liabilities.
Market Role
As a publicly listed company on Tadawul (8070), Arabian Shield Cooperative Insurance Company plays a significant role in Saudi Arabia’s growing insurance sector. With supervision from SAMA and CCHI, the company provides both corporate and personal insurance solutions, reinforcing its position as a trusted insurer within the Kingdom.
