Security

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 USD45,000,000 any one risk

CCR Re USD5,000,000 any one risk

Currently, OOUL’s maximum line is USD100,000,000 (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 and CCR Re binders are in respect of reinsurance business only, but both these binders can write 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. London Global S.r.l. trading as Oilfield Offshore Underwriting is authorised and regulated by IVASS, Italy (A000620496) and the Financial Conduct Authority (849073).