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HAMILTON, Bermuda – (COMMERCIAL THREAD) – Oceanview Life and Annuity Company (“Oceanview Lifeâ€), an insurance company, and Oceanview Reinsurance Ltd. (“Oceanview Re”), a Class E insurance company in Bermuda, today announced that global rating agency AM Best revised the outlook from stable to positive and confirmed the financial strength rating of A- (excellent) and long-term issuer credit ratings of “a-†(excellent) of Oceanview Life and Oceanview Re .
In reviewing the outlook, AM Best noted that the ratings of Oceanview Life and Oceanview Re reflect the strength of their balance sheets, which AM Best considers to be very strong, as well as their adequate operational performance, neutral business profile and a appropriate management of business risks.
AM Best also noted that Oceanview Life and Oceanview Re “benefit from the expertise of their investment team and the ability to find mortgages that offer a good balance of quality, liquidity and yield, which translates into good spreads in a difficult investment environment “.
“We are delighted to have received excellent ratings with a positive outlook from AM Best which reflects our very strong balance sheet and continued execution,†said William Egan, Chairman and CEO of Oceanview Life. Lynn Superina, Vice President and Chief Financial Officer of Oceanview Re, said, “These revisions are a testament to the operational strength and financial stability of our organizations, and we are proud of our teams for their focus on providing service delivery. high quality that allow this achievement. For Best’s latest credit rating, go to www.ambest.com.
About Oceanview Life
Oceanview Life and Annuity Company is a Phoenix, Arizona-based insurer 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 throughout life. of their policies. Oceanview offers fixed annuities that are distributed through networks of agents, banks, and brokerage firms in some states.
About Oceanview Re
Oceanview Reinsurance Ltd. is a Bermuda Class E reinsurer based in Hamilton, Bermuda, rated A- by AM Best and is a wholly owned subsidiary of Oceanview Holdings Ltd. Oceanview Re offers customized reinsurance solutions for fixed annuities and other asset intensive life insurance liabilities.
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