S&P Affirms OIL’s Financial Ratings
Standard and Poor’s has affirmed Bermuda-based Oil Insurance Limited (OIL) financial rating of A- “Strong” with a Stable Outlook. “The insurer financial strength rating on the Bermuda-based Oil Insurance Ltd. (OIL) is based on OIL’s very strong claims-paying resources, effective product for satisfying the goals of members’ risk-management programs, strong financial flexibility, and very strong capitalization.”
Chief Executive Officer Robert Stauffer said “Our $250 million property capacity is critical cornerstone capacity for most of our members. Recognition by Standard and Poor’s of the financial strength of our mutual is reassuring to our existing and prospective members.”
George Hutchings, OIL’s Chief Operating Officer stated “This rating affirms the financial strength of our mutual as we begin the process of attracting new members to broaden our membership globally.”
