Oil company executives believe that creating a captive insurance operation to handle their risk could help the value of their operations, according to a brokerage' firm's survey.
The finding was contained in a report on the oil and gas industry from the insurance brokerage firm Marsh, a subsidiary of the New York-based services firm Marsh & McLennan Companies.
Based on a poll taken earlier this year of more than 400 senior national oil company executives at the National Oil Companies Conference in Dubai, the survey found that 62 percent of executives believe captives can add "significant value" to a national oil company, while the remainder said it could add some value.
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