Oilfield Offshore Underwriting Limited (OOUL) is a managing general agent which underwrites energy risks on behalf of several Lloyd’s syndicates and Company markets.
OOUL was founded in 2010 as an appointed representative of Oilfield Insurance Agencies Limited (OIAL). OIAL was formally established in 2002 and has consistently outperformed the mainstream energy markets in its chosen niche area of onshore Control of Well.
With the establishment of OOUL, Oilfield has expanded in to the wider upstream, offshore market. OOUL trades on a targeted global basis, working with identified supporters to ensure a profitable and diversified spread of business. OOUL is now authorised and regulated by the Financial Conduct Authority in its own right.
OOUL has established a joint venture in the Dubai International Finance Centre called Aspire Underwriting Agency Limited (Aspire). Aspire will initially focus on underwriting energy and non proportional treaty business and is regulated by the Dubai Financial Services Authority.
In respect of all EEA regulated insurance risks, the company’s business is written through London Global S.r.l. trading as Oilfield Offshore Underwriting.
OOUL is headed up by Paul Munday who is supported on the underwriting side by Ben Holborow. The operations team is led by Nicola Youngman and Rachel Butler manages OOUL’s claims department. Mark Jeffrey is the Senior Executive Officer of Aspire.
OOUL operates from the heart of the London insurance market at 40 Lime Street.