Abstract: A flame retardant resin composition for electrical insulation and sheathing of wire and cables which has enhanced oil resistance and excellent processing characteristics, comprising (a) 100 parts by weight of a polyolefin polymer, (b) 50 to 200 parts by weight of a metal hydroxide or hydrated metal salt, (c) 3 to 20 parts by weight of a polyolefin based polymer or oligomer grafted or copolymerized with a vinyl bearing species, where polyolefin based polymer (c) differs from polyolefin polymer (a), and (d) 1 to 10 parts by weight of a silicone compound.