Global credit rating agency AM Best has upgraded Oceanview Holdings’ Financial Strength Rating to “A”(Excellent) and its Long-Term ICR to “a” (Excellent) from “a-“, and revised the outlook of these ratings from stable to positive.
AM Best assesses the balance sheet of the Bermuda company as “very strong.”
Oceanview is the ultimate parent of Oceanview Life and Annuity Company, an Alabama insurance company, and Oceanview Reinsurance, a Bermuda Class E insurance company.
William Egan, Chairman and Chief Executive Officer of Oceanview Holdings and Oceanview Life, commented: “We are proud to have achieved this ratings upgrade from AM Best, which is indicative of our robust financial position, continued execution and results.”
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.”
