Asset manager Bayview explores sale of insurance arm Oceanview
December 19, 2023 by David French and Pablo Mayo Cerqueiro
Dec 13 (Reuters) – Credit investment firm Bayview Asset Management told Reuters it has put its insurance arm Oceanview Holdings up for sale, in what could be the latest chapter of dealmaking in North America’s life insurance and annuities sector.
The sale process comes amid strong appetite from private equity firms and other asset managers for the fee revenue that comes from managing life insurance assets. There are now fewer opportunities to snap up such assets because high interest rates make it easier for insurers to generate enough returns without divesting them.
Click HERE to read the full story via Reuters
Wink’s Moore on the Market: Oceanview Life and Annuity has only been selling annuities for four years.
This morning, we hear news that their parent company- Bayview Asset Management, LLC– is interested in selling.
Oceanview sells multi-year guaranteed annuities and indexed annuities. Their market share of the deferred annuity market was 0.62% of a $78.6 billion market for 3Q2023.
If I were a betting woman, I’d say that the buyer has already made their offer; news will be forthcoming. -sjm