Offshore energy business underwriter Anemos Insurance Management Ltd. has been going from strength to strength since it set up in Bermuda two months ago.

Anemos is a Managing General Agency which writes offshore energy business on behalf of Ironshore Insurance Ltd. and was formed by industry professionals John Jenks (chief executive officer) and Elspeth Brewin (chief operating officer) with the backing of the Thomas Miller Group, with Allen Steiger joining them as chief underwriting officer.

Anemos will write a small book of offshore energy business during 2008, mainly focusing on providing Gulf of Mexico capacity to preferred customers. The available capacity is $25 million per insured and it will be deployed on an excess basis. Access to the facility will be via the normal broker distribution channels.

The company will be responsible for all underwriting, claims handling, policy issuance and premium collection.

"We have been overwhelmed by the support we have received," said Ms. Brewin.

"The brokerage community both locally and overseas have been very supportive and we have been amazed - it has been terrific, people who have not been in contact for years have been in contact with us to help us get started - it has been wonderful.

"We are already working on what is coming next with the Gulf of Mexico renewal season and we hope to return good results to our carrier."

Policies will be written either on an "all risks" basis with the standard industry exclusions (land, terrorism, seepage and pollution) or as an alternative, the full limit is available for stand-alone Gulf of Mexico windstorm coverage. There is no intention to cover loss of production income or third-party liabilities at this time.

Anemos will offer a technical approach to underwriting and risk assessment, differentiating by platform design/construction specifics and precise geographic location. This will enable Anemos to give buyers a true tailored package to suit precisely their individual needs.

Mr. Jenks said: "Capacity for Gulf of Mexico windstorm coverage is still far short of what it was prior to the extensive damage to offshore energy facilities caused by hurricanes Katrina and Rita in 2005, and values at risk are higher.

"So while in other energy sectors rates have softened, the issue for the Gulf remains capacity. We believe that our new excess facility will be welcomed by buyers seeking to purchase increased limits for these risks for the 2008 season, and by those without windstorm exposure but with capacity constraints for certain key assets offshore in other locations."