Posted on 11 Aug 2010
Representatives from Chartis, the property/casualty arm of American International Group, Inc., announced an increase from $150 million to $200 million in underwriting capacity from the Oil Rig unit of its Global Marine and Energy Division.
This substantial increase highlights the Chartis insurers' commitment to offer a broad range of insurance protection to the upstream and offshore segment of the oil and gas extractive industries worldwide.
"Chartis has been a leading provider of Offshore Energy insurance for more than 35 years, and this increase in capacity enables us to continue our support for a vital segment of the global economy," said Dorian Grey, President of Oil Rig. “Our increased capacity will be used to continue to deliver on our mandate to provide reliable capacity and underwriting leadership.”
In addition to its increased underwriting capacity, Oil Rig offers the following:
· Dedicated specialist teams in London and Houston, with access available through numerous
Chartis offices across the globe;
· Flexible risk management and risk transfer solutions tailored to clients’ needs;
· Worldwide claims, loss control and engineering capabilities; and
· Access to the Global Marine and Energy network.