Re-Insurance

Oil and Ocil donate $350,000 towards crisis

  • Bertil Olsson: president and chief executive officer of the Oil Group (Photograph submitted)

Oil Insurance and Oil Casualty Insurance have donated more than $350,000 for ongoing community support primarily to help struggling families. The companies, who annually support about 30 charities, set up a special fund to specifically assist with Covid-19 crisis funds. The focus of the grants is to assist Bermudian-based charities which are doing extraordinary work on the “social need front lines”.

Gail Miller, vice-president, HR and administration for Oil and Ocil, said: “Our senior leadership team recognised there was an additional need to support Bermuda in excess of our annual charity budget and readily agreed to a special fund to be used to provide much needed support to families during this crisis. Substantial donations were made to the Women’s Resource Centre, Coalition for the Protection of Children, Eliza DoLittle Society, the special KEMP PPE fund and the Bermuda Community Foundation — Emergency Fund.

“In addition, the companies enhanced their staff matching policy by matching all monies donated to charity by staff on a $2 for $1 basis by increasing our staff matching, this enables our companies to specifically support charities that are important to our staff.”

Bertil Olsson, president and chief executive officer, said: “Both Oil and Ocil have enjoyed very long associations with Bermuda. Oil will be celebrating 50 years in Bermuda in 2022 and Ocil was formed 34 years ago. The companies employ 56 staff locally and insure in excess of three trillion dollars of energy assets globally. Supporting Bermuda during these very challenging times is a priority for our organisation.”