June 26, 2024 Reinsurance

Oceanview Expands Global Reinsurance Operations with New Cayman Islands Subsidiary, Oceanview Secure Reinsurance Ltd., offering Global Reach and Tailored Solutions

Business Wire

Enhances Oceanview’s ability to support global reinsurance clients

Facilitates a broader array of customized reinsurance products

GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--
Oceanview Holdings Ltd. (Oceanview), a prominent provider of annuities and reinsurance solutions, today announced the establishment of its new subsidiary, Oceanview Secure Reinsurance Ltd., in the Cayman Islands. This strategic expansion strengthens Oceanview's ability to deliver innovative reinsurance solutions globally.

Oceanview Secure Reinsurance Ltd. has been awarded a Class D Insurer's license by the Cayman Islands Monetary Authority (CIMA).

"Launching Oceanview Secure Reinsurance Ltd. is a strategic move to enhance our reinsurance capabilities and expand our global footprint," said Bill Egan, CEO of Oceanview Holdings Ltd. "Oceanview is now able to provide comprehensive reinsurance solutions to clients through both its Bermuda reinsurer, Oceanview Reinsurance Ltd., and its new Cayman Islands subsidiary, Oceanview Secure Reinsurance Ltd. This dual-jurisdiction approach offers our clients increased flexibility, greater efficiency and access to tailored reinsurance products."

Key Benefits of Launch of Oceanview Secure Reinsurance Ltd.:

Global Reach: Complements and enhances Oceanview’s ability to provide global clients with advanced reinsurance options.

Tailored Solutions: Facilitates a broader array of customized reinsurance products to meet a wide variety of client requirements.

"We are thrilled to extend our operational excellence to the Cayman Islands, offering our clients unparalleled reinsurance services with enhanced flexibility and efficiency," added Egan.

About Oceanview

Oceanview Holdings Ltd., established in 2018, provides retail annuities and asset-intensive reinsurance solutions through its subsidiaries. Oceanview Life and Annuity Company, an Alabama-domiciled insurer licensed in 47 states, and Oceanview Reinsurance, Ltd., a Bermuda Class E insurer, are rated "A" (Excellent) by A.M. Best. On a consolidated basis, Oceanview had over $12 billion in assets as of year-end 2023.