SIGCo was incorporated as a limited liability company on the 9th October, 1996 to respond to the requirements mandated by the United States Oil Pollution Act, 1990 (OPA90). The company's formation was facilitated by the consultation between Stockton Re (the insurer behind the First Line Program that preceded SIGCo) and the managements of three leading P&I Clubs. In 2007 the original shareholders of SIGCo (including Stockton Re and the three P&I clubs) were paid back their investment. SIGCo is now owned wholly by the shipowner members through the SIGCo Trust and their interests are looked after by a board of Shipowner Trustees.

Objective

SIGCo's principal objective is to assist shipowners in fulfilling Financial Guaranty requirements of OPA90 and the Comprehensive Environmental Response Compensation and Liability Act (CERCLA).

SIGCo was founded with the express intention to be the longterm, fixed premium Certificate of Financial Responsibility (COFR)Guaranty facility. It was established to provide low-cost guaranties while increasing control and ownership of the facility on behalf of shipowners, without unnecessary exposure to their balance sheets.