Marsh managing director to replace Stauffer as Oil Insurance CEO

Bermuda mutual energy insurer Oil Insurance Ltd. announced that chief executive officer Robert Stauffer will retire this January and be replaced by Bertil Olsson, who will join OIL from Marsh & McLennan Companies Inc.

Olsson held the position of managing director and head of south central region, for New York City-based commercial brokerage Marsh USA Inc., OIL stated in a press release Sept. 16.

OIL is owned by more than 50 energy firms worldwide.

Stauffer has been CEO of OIL since 2005. He joined the OIL Group from Kerr-McGee Corp., where he was vice president, risk management and real estate operations, and president, Bermuda Captive Insurance Subsidiary.

OIL provides coverage for onshore and offshore exploration and production, refining and for firms involved in transportation and marketing of fuels, lubricants, chemicals and other refined petroleum products.

Olsson held executive positions with Willis North America Inc. from 1992 to 2008. He had worked for Marsh & McLennan from 1987 through 1992.