(CMR) Oceanview Holdings, an Alabama-based provider of annuities and reinsurance solutions, has announced the establishment of its new subsidiary, Oceanview Secure Reinsurance, in the Cayman Islands.
Reinsurance News reported that the firm's strategic expansion is part of an effort to offer reinsurance solutions globally.
Oceanview Secure Reinsurance has been granted a class D insurer license by the Cayman Islands Monetary Authority (CIMA).
“The launch of Oceanview Secure Reinsurance Ltd. is a strategic step to enhance our reinsurance capabilities and expand our global presence,” said Bill Egan, CEO of Oceanview Holdings.
“Oceanview is now positioned to offer innovative reinsurance solutions to its clients through both its reinsurer in Bermuda, Oceanview Reinsurance Ltd., and its new subsidiary in the Cayman Islands…“We are thrilled to extend our operational excellence to the Cayman Islands, offering our clients unparalleled reinsurance services with enhanced flexibility and efficiency,” he added.