OOUL is an accredited Lloyd’s coverholder that holds binding authorities with the following markets:
Lloyd’s of London USD40,000,000 any one risk
Hannover Re / HDI Global Speciality SE USD10,000,000 any one risk
China Taiping Insurance (HK) Company Limited /
China Pacific Property Insurance Company Limited /
China Pacific Insurance Company (HK) Limited USD41,500,000 any one risk
Currently, OOUL’s maximum line is USD91,500,000 (net of any facultative reinsurance) any one risk (all clashing interests combined) for reinsurance business and USD50,000,000 for insurance business.
OOUL utilise Hannover Re for reinsurance contracts and HDI Global Speciality SE for direct risks. Our Chinese capacity is in respect of reinsurance business only, but this binder can write both upstream and downstream risks.
As a managing general agent, OOUL does not have a financial rating but all binder security is rated by A.M. Best and/or Standard and Poor’s. Latest ratings can be found on the respective company websites.
Oilfield Offshore Underwriting Limited is authorised and regulated by the Financial Conduct Authority Firm Reference Number (FRN) 787475.