Oceanview Assumes $1B Fixed Annuity Reserves
Oceanview Reinsurance has entered into a transaction to assume approximately $1 billion of fixed annuity reserves.
A spokesperson said, “Oceanview Reinsurance Ltd. [Oceanview Re], a Bermuda Class E insurance company, announced that it has entered into a transaction to assume approximately $1 billion of fixed annuity reserves from an A++ rated U.S. life insurance company which represents legacy fixed annuity business.
“Oceanview Reinsurance Ltd. is a Class E Bermuda reinsurer based in Hamilton, Bermuda rated A- by A.M. 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.”
