Robert Stauffer plans to retire as chief executive officer of energy mutual insurers Oil Insurance Limited (OIL) and Oil Casualty Insurance Ltd (OCIL) at the start of 2016.

Mr Stauffer has led the companies for more than a decade and has also served as a director of OCIL since 1986 and as of OIL since 1988.

The Joint Succession Planning Committee (Succession Committee) of the boards of directors of the member companies is initiating a search and succession process for selection of a new president and CEO, the companies announced today.

They plan to have Mr Stauffer’s replacement on board before his retirement.

Gerard Naisse and Theo Guidry, the respective chairmen of OIL and OCIL, said jointly that “we believe that Bob leaves our respective member companies in very good shape and that we could not have a better time for a change in leadership”.