OCIL, Bermudes, Hamilton

OCIL, Bermudes, Hamilton



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N°1 en Assurance sur 1 entreprises

The Company was formed in 1986 at a time when the commercial markets had ceased to provide adequate D&O and excess liability insurance coverage for energy industry risks. The need for a new industry owned vehicle specializing in liability insurance was recognized by concerned members of the energy industry. As a result, OCIL was conceived and formed and is currently a Bermuda based Class 3B licensed insurer operating as an insurance and reinsurance company providing various forms of coverage for energy companies worldwide.

Oil Casualty Insurance, Ltd. is incorporated and domiciled in Bermuda, a major international business center.

Oil Casualty Insurance, Ltd. (OCIL) was incorporated under the laws of Bermuda on May 14, 1986. The Company holds a Class 3 license under The Insurance Act 1978.

Beginning in 2006, OCIL embarked on a strategic plan aimed at reducing volatility, obtaining geographic and product line diversification, finding new distribution channels and obtaining a broader spread of risk. Today, OCIL operates as an insurance and reinsurance company.

The direct insurance business written includes Excess Liability on an occurrences first reported or claims made basis. OCIL also offers direct and facultative property insurance (operational and construction risks) on a worldwide basis for energy companies. OCIL provides flexibility to insured's by offering not only policy form options, but also the ability to join as either a Shareholder or simply as a Policyholder. Energy operations insured by OCIL include exploration and production, refining and marketing, pipelines/midstream, petrochemicals, electric/gas utilities, mining and integrated energy companies.

The reinsurance business written includes Excess Liability, Fiduciary, D&O, and Property coverage behind ceding companies that provide insurance predominantly to energy companies. Reinsurance is written on both a facultative and treaty basis.

OCIL, is rated A- "Excellent" by A.M. Best and BBB+ "Stable" by Standard & Poor's. Please refer to financial rating sections for more information.