investment in Global Risk Exchange, an Internet-based property-casualty commercial insurance exchange.

The two companies are Oil Investment Corporation, the investment subsidiary of Oil Insurance Ltd., and Oil Casualty Investment Corporation Ltd., a subsidiary of Oil Casualty Insurance Ltd.

Analysts say the investment will help Global Risk Exchange to penetrate the insurance market of the energy industry.

Andrew Berry, CEO of Global Risk Exchange, said his company was excited about the investment.

"The momentum caused by this deal will help drive meaningful change on behalf of insurance buyers in every major industry.'' A press release said the investment in Global Risk Exchange was the result of a strategy study conducted for OIL and OCIL to determine how cost structures could be streamlined.