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Oil Insurance Limited A- Financial Strength Rating Affirmed by Standard and Poor's With Stable Outlook
By: PR Newswire
Nov. 21, 2012 03:01 AM
HAMILTON, Bermuda, November 21, 2012 /PRNewswire/ --
Oil Insurance Limited (OIL) announced today that Standard and Poor's has affirmed OIL's A- financial strength rating with a Stable Outlook.
President and CEO Robert Stauffer commented that "as a result of the high credit quality of our membership, strong capitalization and operational flexibility, OIL has maintained its A- financial strength rating since September 2005. "
Oil Insurance Limited (OIL) insures nearly two trillion dollars of global energy assets for more than fifty members with property limits up to $300 million availing more than eleven billion dollars in total A- rated property capacity. Members are medium to large sized public and private energy companies with at least $1 billion in physical property assets and an investment grade rating or equivalent. Products offered include Property (Physical Damage), Windstorm, Non Gradual Pollution, Control of Well, Terrorism, Construction and Cargo. The industry sectors that OIL protects include Offshore and Onshore Exploration & Production, Refining and Marketing, Petrochemicals, Mining, Pipelines, Electric Utilities and other related energy business sectors.
Further inquiries regarding this press release should be directed to Barry Brewer, VP Marketing firstname.lastname@example.org +1-441-278-1132
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