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John Catsimatidis, the billionaire owner and CEO of New York City supermarket chain Gristedes, warned that higher prices for things like food and gas will stick around at least until the middle of next year.
Profits slide at OIL as mutual welcomes five new members
27-04-2021
15-03-2021
Oil Insurance (OIL) held its 2021 annual general meeting of shareholders on April 20, 2021, a virtual event at which executives shared details of the company’s financial results and welcomed five new members to the mutual insurance company.
OIL reported a $467 million of net profit in 2020, driven principally by a $420 million profit earned from net investment income. While this represented a significant fall compared to its $1.03 billion profit in 2019, it avoided a repeat of the $675.6 million loss generated in 2018.
OIL also welcomed five new shareholders into the mutual, including: Ecopetrol; Federated Co-Operatives; Inter Pipeline; Pembina Pipeline Corporation; and United Refining Company.