Oceanview forms Cayman reinsurer

Life re/insurer Oceanview Holdings, which has a Bermuda Class E reinsurer, has formed a Cayman Islands-based reinsurer, saying it will increase the options it can offer its clients.   

Oceanview said Oceanview Secure Reinsurance had been awarded a Class D Insurer's licence by the Cayman Islands Monetary Authority.

"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."

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

Oceanview said the new reinsurer would complement and enhance Oceanview’s ability to provide global clients with advanced and customized reinsurance options.

Oceanview Holdings Ltd was established in 2018 and 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 Re. On a consolidated basis, Oceanview had over $12 billion in assets as of year-end 2023.

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