The oil and gas industry can face severe, low-frequency risks. Globally, there are few insurers who can insure appropriately against some of these risks. Shell – like other major oil and gas organisations – self-insures most of its risk exposure. This means that we maintain capital and reserves in a regulated entity.
Shell’s main insurance company is based in Switzerland where we have qualified staff and sufficient capital and reserves to meet Swiss insurance regulations.
Our insurance activities use robust methodologies and processes to assess, mitigate and manage risk. This includes the valuation of risk so that it can be properly accounted for in decision-making and analysis of the causes of losses so that they can be reduced in the future.