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

Hamilton, Bermuda (ots/PRNewswire) -

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
4th 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.

ots Originaltext: OIL Insurance Limited (OIL)
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Further inquiries regarding this press release should be directed
to Barry Brewer, VP Marketing at barry.brewer@oil.bm or
+1-(441)-295-0905.