OIL falls to $62mn underwriting loss

Bermudian specialist energy mutual Oil Industry Limited (OIL)
reported a $62mn underwriting loss in its 2016 results.
The company made an underwriting profit of $56mn in 2015.
The mutual ran up a loss ratio of 114 percent for the 2016
calendar year, up 26 percentage points on 2015.
The combined ratio for 2016 was 119 percent, a deterioration of
28 percentage points on the previous year.
Nevertheless, the group's net income surged from $30.9mn to
$210.0mn year-on-year, as investments swung...