Oceanview Reinsurance Ltd., a recently established life reinsurer based in Bermuda, has entered into a transaction to assume approximately $1 billion of fixed annuity reserves from an A++ rated US life insurer which represents legacy fixed annuity business.
The reinsurer is led by President and CEO Alberto Autmezguine, who previously served as Head of Annuities Valuation at Prudential Financial in the U.S. Prior to this, he was SVP and Chief Actuary at ACE Tempest Life Reinsurance in Bermuda.
The executive team also consists of Vice President and Chief Actuary Pierangelo Falcucci, and Chief Financial Officer Lynn Superina.
It leverages the asset management expertise of Bayview Asset Management, an investment firm based in Coral Gables, Florida, which primarily focuses on mortgage credit.
Oceanview Re specialises in partnering with US life insurance companies to develop customised reinsurance solutions and address their corporate needs for fixed annuities and other asset intensive life insurance liabilities.