Bermudian-based Oceanview Holdings Ltd has expanded its global reinsurance operations with the establishment of a new subsidiary in the Cayman Islands.

Oceanview Secure Reinsurance Ltd has been awarded a Class D Insurer's licence by the Cayman Islands Monetary Authority.

Bill Egan, CEO of Oceanview Holdings, said: "Launching Oceanview Secure Reinsurance Ltd is a strategic move to enhance our reinsurance capabilities and expand our global footprint.

"Oceanview is now able to provide comprehensive reinsurance solutions to clients through both its Bermuda reinsurer, Oceanview Reinsurance Ltd, and its new Cayman Islands subsidiary, Oceanview Secure Reinsurance Ltd.

“This dual-jurisdiction approach offers our clients increased flexibility, greater efficiency and access to tailored reinsurance products."

He added: "We are thrilled to extend our operational excellence to the Cayman Islands, offering our clients unparalleled reinsurance services with enhanced flexibility and efficiency."

Oceanview Holdings, established in 2018, provides retail annuities and asset-intensive reinsurance solutions through its subsidiaries. It had more than $12 billion in assets as of year-end 2023.

Oceanview Reinsurance Ltd and Oceanview Bermuda Reinsurance Ltd are both licensed as long-term Class E insurers by the Bermuda Monetary Authority.

Oceanview Life and Annuity Company, an Alabama-domiciled insurer, is licensed in 47 states.