May 21, 2018 1:32 AM ET

Insurance

Company Overview of OIL Insurance Limited

Company Overview

Oil Insurance Limited, together with its subsidiaries, provides insurance and reinsurance services in Bermuda. The company insures specific property, pollution liability, control of well, and other risks of companies in the energy industry. It offers its services to offshore and onshore exploration and production, refining and marketing, pipelines, chemicals, electric utilities, mining, pharmaceuticals, and other energy business sectors. Oil Insurance Limited was incorporated in 1971 and is based in Hamilton, Bermuda.

3 Bermudiana Road

Hamilton,  HM O8

Bermuda

Founded in 1971

Phone:

441-295-0905

Fax:

441-295-0351

Key Executives for OIL Insurance Limited

President, CEO & Director
CFO & Senior VP
Chief Operating Officer and Senior Vice President
Senior Vice President, General Counsel and Secretary
VP of Finance & Controller
Compensation as of Fiscal Year 2017.

OIL Insurance Limited Key Developments

Oil Insurance Limited Declares $450 Million Dividend for the Year 2017, Payable on or Before June 30, 2018; Announces Executive Appointments; Reports Earnings Results for the Full Year of 2017

OIL Insurance Limited announced at its AGM was held on March 22, 2018, the Company reported at the AGM that the Board of Directors had declared a dividend in an aggregate amount of $450 million to all shareholders on record as of January 1, 2018 payable on or before June 30, 2018. The company also announced that after the AGM adjourned, the Board of Directors met and elected Theodore Guidry II as Chairman of the Board and Fabrizio Mastrantonio as Deputy Chairman for 2018. The company reported earnings results for the full year of 2017. For the year, the company recorded a $71.3 million underwriting loss. After factoring in net investment income and administrative expenses, the company’s net income for the year was $587.7 million.

Oil Insurance Limited Declares $250 Million Dividend, Payable on or About June 30, 2017

OIL Insurance Limited reported at the AGM that the Board of Directors had declared a dividend in an aggregate amount of $250 million to all shareholders on record as of January 1, 2017 payable on or about June 30, 2017 in recognition of OIL's continued financial success and solid financial condition. Lastly, the shareholders approved three minor changes to the Rating & Premium Plan.

Oil Insurance Limited Declares Dividend, Payable on or Before December 31, 2016

At its December 2016 Board Meeting on December 8, 2016, the Board of Directors of Oil Insurance Limited declared a $200 million dividend payable on or before December 31, 2016.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
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