AM Best Upgrades Oceanview To ‘A’ Rating
Oceanview Holdings, Ltd., a Bermuda company and ultimate parent of each of Oceanview Life and Annuity Company, an Alabama insurance company, and Oceanview Reinsurance Ltd., a Bermuda Class E insurance company [together Oceanview], announced that global credit rating agency AM Best has upgraded the Financial Strength Rating [FSR] and Long-Term Issuer Credit Ratings of Oceanview.
AM Best upgraded Oceanview’s FSR to “A” [Excellent] and its Long-Term ICR to “a” [Excellent] from “a-“, assessing Oceanview’s balance sheet as “very strong” and the outlook of these ratings was revised to stable from positive.
“We are proud to have achieved this ratings upgrade from AM Best, which is indicative of our robust financial position, continued execution and results,” said William Egan, Chairman and Chief Executive Officer of Oceanview Holdings and Oceanview Life.
Andrew Kanelos, Executive Chairman & Chief Governance Officer of Oceanview Re, added “This upgrade reflects the Oceanview team’s commitment to providing high-quality services and its disciplined approach to governance and asset/liability management, all of which are fundamental to the strength and stability of our organizations and worthy of strong investment-grade credit ratings.”
