Oil Insurance Limited (OIL) Declares $100 Million Premium Credit for 2013

Oil Insurance Limited (OIL) Declares $100 Million Premium Credit for 2013 
HAMILTON, Bermuda, Aug. 13, 2013 /CNW/ - The Board of Directors, at the July 
2013 Board Meeting, approved a $100 million premium credit for current (2013) 
Shareholders, who were shareholders of record on December 31, 2012. This 
credit will approximate a 16% reduction in total premium charged to the 
membership during 2013. Members will see the premium credit in their 4(th) 
quarter premium billing. 
Robert D. Stauffer, President & CEO of OIL, commented that "OIL is in a strong 
financial position as a result of healthy investment returns and positive 
underwriting results over the past 18 months. We regularly evaluate our value 
proposition to make sure that our members benefit from the positive results of 
our long term investment strategy and premium system." 
George F. Hutchings, SVP & COO of OIL added that "Since the company's 
operating objective is to deliver meaningful and broad cornerstone capacity at 
cost while holding adequate capital to support the risk exposures of our 
membership, it was clear to Management and the Board that granting this credit 
was in the best interests of the company and its members. We operate the 
company with a disciplined capital management strategy and this premium credit 
demonstrates our unique long term value proposition." 
For more information about OIL's property coverages and related value go to 
http://www.oil.bm. 
Oil Insurance Limited (OIL) insures over two trillion dollars of global energy 
assets for more than fifty members with property limits up to $300 million 
totaling 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.
 

SOURCE  OIL Insurance Limited (OIL) 
Further inquiries regarding this press release should be directed to  Barry 
Brewer, VP Marketing atbarry.brewer@oil.bm or +1-(441)-295-0905. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/August2013/13/c5481.html 
CO: OIL Insurance Limited (OIL)
NI: INS  
-0- Aug/13/2013 07:00 GMT
 
 
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