AM Best Revises Outlooks to Positive for Oceanview Life and Annuity Company and Oceanview Reinsurance Ltd.
November 23, 2021 by Oceanview Life and Annuity Company
HAMILTON, Bermuda–(BUSINESS WIRE)–Oceanview Life and Annuity Company (“Oceanview Life”), an insurance company, and Oceanview Reinsurance Ltd. (“Oceanview Re”), a Bermuda Class E insurance company, today announced that global credit rating agency AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Oceanview Life and Oceanview Re.
In revising the outlooks, AM Best noted that the ratings of Oceanview Life and Oceanview Re reflect their balance sheet strength, which AM Best assesses as very strong, as well as their adequate operating performance, neutral business profile and appropriate enterprise risk management.
AM Best also noted that both Oceanview Life and Oceanview Re “benefit from the expertise of their investment team and the ability to source mortgage loans that have a good balance between quality, liquidity and yield, resulting in good spreads in a challenging investment environment.”
“We are pleased to have received excellent ratings with positive outlooks from AM Best that reflect our very strong balance sheet and continued execution,” said William Egan, Chairman and Chief Executive Officer of Oceanview Life. Lynn Superina, Vice President & Chief Financial Officer of Oceanview Re, said “These revisions are a testament to the operational strength and financial stability of our organizations, and we’re proud of our teams for their focus on providing high-quality services that enables this achievement.” For the latest Best’s Credit Rating, access www.ambest.com.
About Oceanview Life
Oceanview Life and Annuity Company is an insurer based in Phoenix, Arizona 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. Oceanview 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- 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.
Liz Zale, Sard Verbinnen & Co
Lynn Superina, CA(SA), FLMI, CAMS, Oceanview Reinsurance Ltd.
Vice President & Chief Financial Officer