Bermuda-based energy industry mutual insurer, Oil Insurance Ltd (OIL), recorded net income of $646 million in 2012 — without members experiencing heavy losses during a catastrophe prone year.“In general, 2012 was a very good year for OIL,” said Robert Stauffer, president & chief executive officer. “Fortunately, we did not experience any severe windstorm or hurricane losses and our losses came in pretty much as we forecast and expected. In addition, our investment portfolio returns were very good — a testament to the intense work and strategic decision making of our investment board and financial staff.”During the year, OIL tallied $672 million of written and earned premium while incurred losses, inclusive of loss adjustment expenses, totalled $(613) million. OIL’s net underwriting income was $60 million and net investment income stood at $608 million.The company said OIL has been meeting with global energy brokers on a regional basis and is in discussions with a number of additional prospective members from multiple countries.Said OIL chief operating officer George Hutchings. “Perhaps the most important marketing development was the launch of the OTA (OIL Technical Accreditation) online training programme which was launched in December 2012.OIL held its held its AGM last Wednesday at the Fairmont Southampton Hotel.