OOUL is an accredited Lloyd’s coverholder that holds binding authorities with the following markets:
Lloyd’s of London USD42,500,000 any one risk
Hannover Re/International Insurance Company of Hannover
USD10,000,000* any one risk
Currently, OOUL’s maximum line is USD52,500,000 (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 International Insurance Company of Hannover for direct risks (* Inter Hannover direct line is limited to USD7,500,000).
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.