HAMILTON, Bermuda--(BUSINESS WIRE)--Oceanview Holdings, Ltd., a Bermuda company and ultimate parent of each of Oceanview Life and Annuity Company (“Oceanview Life”), an Alabama insurance company, and Oceanview Reinsurance Ltd., a Bermuda Class E insurance company (together “Oceanview”), today announced that global credit rating agency AM Best has upgraded the Financial Strength Rating (FSR) and Long-Term Issuer Credit Ratings (Long-Term ICR) of Oceanview.
AM Best upgraded Oceanview’s FSR to “A”(Excellent) and its Long-Term ICR to “a” (Excellent) from “a-“, assessing Oceanview’s balance sheet as “very strong” and the outlook of these ratings was revised to stable from positive.
“We are proud to have achieved this ratings upgrade from AM Best, which is indicative of our robust financial position, continued execution and results,” said William Egan, Chairman and Chief Executive Officer of Oceanview Holdings and Oceanview Life.
Andrew Kanelos, Executive Chairman & Chief Governance Officer of Oceanview Re, added “This upgrade reflects the Oceanview team’s commitment to providing high-quality services and its disciplined approach to governance and asset/liability management, all of which are fundamental to the strength and stability of our organizations and worthy of strong investment-grade credit ratings.”
Additional details regarding these credit ratings are available at AM Best’s Recent Rating Activity web page.
About Oceanview Life
Oceanview Life and Annuity Company is an insurer based in Denver, Colorado rated “A” by AM Best and is a wholly owned subsidiary of Oceanview Holdings Ltd. Oceanview Life provides high-quality retirement products and services to its policyholders and maintains financial protection over the life of their policies, and offers fixed annuities that are distributed through networks of agents, banks, and broker-dealer intermediaries in select states.
About Oceanview Re
Oceanview Reinsurance Ltd. is a Class E Bermuda reinsurer based in Hamilton, Bermuda rated “A” (Stable) by AM Best and is a wholly owned subsidiary of Oceanview Holdings Ltd. Oceanview Re provides customized reinsurance solutions for fixed annuities and other asset-intensive life insurance liabilities originated from the US and other jurisdictions.