AI Earnings Predictions for Oxbridge Re Holdings Limited (OXBR)

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

WASHINGTON,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2026

OXBRIDGE

RE HOLDINGS LIMITED

(Exact Name of Registrant as Specified in Charter)

Cayman Islands

001-36346

98-1150254

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(I.R.S.

Employer

Identification No.)

Suite 201,

42 Edward Street, George Town P.O. Box 469

Grand Cayman, Cayman Islands

KY1-9006

(Address of Principal Executive Office)

(Zip Code)

Registrant’s telephone number, including area code: (345) 749-7570

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading symbol

Name of each exchange on which registered

Ordinary Shares (par value $0.001)

OXBR

The Nasdaq Stock Market LLC

Warrants to Purchase Ordinary Shares

OXBRW

The Nasdaq Stock Market LLC

(The Nasdaq Capital Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On August 13, 2026, Oxbridge Re Holdings Limited issued a press release announcing its financial results for the quarter and six months ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.

The information in this item shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of Section 18, nor shall it be deemed incorporated by reference in any of the Company’s filings under the Securities Act of 1933, as amended or the Exchange Act, except to the extent, if any, expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

See the Exhibit Index set forth below for a list of exhibits included with this Form 8-K.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

OXBRIDGE

RE HOLDINGS LIMITED

/s/ Wrendon Timothy

Date: August 13, 2026 Wrendon Timothy

Chief Financial Officer and Secretary

(Principal Accounting Officer and

Principal Financial Officer)

A signed original of this Form 8-K has been provided to Oxbridge Re Holdings Limited and will be retained by Oxbridge Re Holdings Limited and furnished to the Securities and Exchange Commission or its staff upon request.

EXHIBIT

INDEX

Exhibit No.

Description

99.1

Press Release, dated August 13, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Oxbridge Re Highlights Strong Q1 2026 Execution, Platform Growth and Market Opportunity

GRAND

CAYMAN, Cayman Islands (May 11, 2026) -- Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs), today reported its results for the three months ended March 31, 2026.

SurancePlus Token Platform Performance and Growth

SurancePlus continues to demonstrate strong performance across its 2025–2026 tokenized reinsurance offerings. The Balanced Yield Token (EtaCat Re), which initially targeted a 20% annual return, is now anticipated to achieve a 25% return, and the High Yield Token (ZetaCat Re) remains on track to achieve its 42% return target. These results reflect our portfolio’s disciplined underwriting approach and highlight how tokenized reinsurance can deliver consistent, uncorrelated returns within the $750 billion total addressable reinsurance market.

Platform Expansion and Ecosystem Growth

During the quarter, SurancePlus continued advancing its blockchain infrastructure, interoperability, and market presence through strategic ecosystem relationships involving Solana, Alphaledger, and LayerZero, supporting expanded visibility, connectivity, and interoperability across more than 160 blockchain networks.

The Company also continued increasing investor engagement and platform awareness initiatives as participation across the SurancePlus ecosystem expands.

In addition to its current initiatives, SurancePlus is exploring opportunities to enable tokenized reinsurance participation for third-party carriers and counterparties.

Catastrophe Market Outlook and 2026–2027 Positioning

As the Company prepares for the upcoming 2026–2027 underwriting cycle and its planned T20 and T42 offerings targeting annual returns of 20% and 42%, respectively, current industry forecasts may support a constructive underwriting environment relative to recent years.

Recent forecasts issued by Colorado State University’s (CSU) Department of Atmospheric Science indicate the 2026 Atlantic hurricane season may trend below historical averages, supported in part by anticipated El Niño conditions, which have historically contributed to reduced Atlantic storm activity.

While hurricane activity remains inherently unpredictable, management believes the combination of continued strong portfolio performance and current climate forecasts positions the Company favorably entering the next contract cycle.

Strategic Outlook

In parallel, management is making meaningful progress advancing opportunities to broaden the SurancePlus model into additional high-quality, cash-generating asset categories, including initiatives involving tokenized data center revenue streams and infrastructure aligned with the continued growth of artificial intelligence.

The Company believes these initiatives have the potential to further expand the Company’s long-term growth opportunity and support future shareholder value creation.

As of March 31, 2026, the Company reported $8.19 million in cash and restricted cash, reflecting continued balance sheet strength and supporting its ongoing strategic initiatives.

The Company believes its continued platform execution, ecosystem development efforts, and balance sheet position support its long-term strategic objectives.

Looking Ahead

The Company remains focused on scaling its business through its real-world asset (RWA) initiatives, broadening market awareness, advancing strategic ecosystem relationships, and executing on its growing pipeline of tokenized asset opportunities.

With strong performance across its current offerings, continued ecosystem development involving Solana, Alphaledger, and LayerZero, and advancement of additional asset tokenization opportunities, the Company believes it is well positioned as it enters the 2026–2027 underwriting cycle.

Jay Madhu Chairman and CEO commented, “We are pleased with the continued strong performance of this year’s tokenized reinsurance contracts. As we approach the conclusion of the season, our existing offerings remain unaffected and on track to pay out 25% and 42%, respectively.

At the same time, we continue developing the reach and visibility of the SurancePlus platform through our growing relationships involving Solana, Alphaledger, and LayerZero, supporting expanded interoperability and ecosystem access. We also remain excited about the longer-term opportunities to expand our model into additional high-quality, cash-generating assets aligned with major growth trends, including artificial intelligence infrastructure.

As of March 31, 2026, the Company reported $8.19 million in cash and restricted cash, supporting our continued strategic initiatives and long-term growth opportunities.

We believe the combination of platform growth, strong contract performance, and expanding market opportunities positions the Company well as we enter the upcoming

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Oxbridge Highlights Strong 2025–26 Performance, Platform Expansion, and Market Opportunity; Reports Q4 and Full-Year Results

GRAND

CAYMAN, Cayman Islands (March 30, 2026) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs), together with its subsidiary SurancePlus, today reported its results for the three months and year ended December 31, 2025.

SurancePlus 2025–2026 Tokenized Reinsurance Update

SurancePlus continues to demonstrate strong performance across its 2025–2026 tokenized reinsurance offerings. The Balanced Yield Token (EtaCat Re), which initially targeted a 20% annual return, is now anticipated to achieve a 25% return, and the High Yield Token (ZetaCat Re) remains on track to achieve its 42% return target. These results reflect our portfolio’s disciplined underwriting approach and highlight how tokenized reinsurance can deliver consistent, uncorrelated returns within the $750 billion total addressable reinsurance market.

Platform Expansion and Ecosystem Growth

The Company has advanced the SurancePlus platform through a series of strategic partnerships designed to expand global distribution, infrastructure, and interoperability:

● We have established a strategic presence in the Solana ecosystem through our partnership with Alphaledger, positioning SurancePlus within one of the leading blockchain platforms for real-world asset adoption, with support from ecosystem participants including the Solana Foundation.

● Formed a strategic collaboration with LayerZero, enabling distribution of SurancePlus offerings across more than 160 blockchain networks

In parallel, we have increased our targeted marketing and investor engagement initiatives, contributing to growing awareness and expanding participation.

Catastrophe Risk and 2026–2027 Outlook

The Company is preparing for the 2026–2027 contract cycle and its two tokenized reinsurance offerings, T20 and T42, which are targeting an annual return of 20% and 42%, respectively. Industry commentary, including widely followed reporting by Artemis referencing forecasts from AccuWeather, indicates that the 2026 Atlantic hurricane season is expected to be positively influenced by El Niño conditions, which have historically been associated with reduced overall storm activity.

Strategic Outlook

We believe our current market valuation does not fully reflect the strength of our balance sheet, including our approximately $6.9m cash and restricted cash position, the performance of its existing tokenized reinsurance offerings, or the earnings potential of its platform and future opportunities.

Management is also evaluating opportunities to expand the SurancePlus model into additional high-quality, cash-generating assets, including the potential tokenization of data centre revenue streams and other opportunities aligned with the growth of artificial intelligence infrastructure. These initiatives are intended to broaden the Company’s tokenization footprint and support long-term shareholder value creation.

Looking Ahead

The Company remains focused on scaling the SurancePlus platform, expanding global distribution, and executing on its growing pipeline of tokenized real-world asset opportunities.

With strong performance across its current offerings, expanding access through strategic partnerships, and continued innovation in product structure, the Company is well positioned to build on its momentum as it enters the 2026–2027 contract cycle.

Jay Madhu Chairman and CEO commented, “We are pleased with the continued strong performance of our RWA tokenized reinsurance platform, with our Balanced-Yield Token tracking 25%, ahead of its 20% target, and our High-Yield Token tracking its 42% target. As we enter the 2026–2027 contract cycle, we are targeting returns of 20% and 42% for our T20 and T42 offerings.

We have also made meaningful progress expanding our platform, including our entry into the Solana ecosystem and distribution across more than 160 blockchain networks. Looking ahead, we are excited about the upcoming year, including recent reporting from Artemis, indicating El Niño conditions may support a reality of storm numbers being around or even below historical averages.

In parallel, we are evaluating advanced opportunities to extend our model into additional high-quality, cash-generating assets, including the tokenization of data center revenues aligned with the growth of artificial intelligence. We also believe our current market valuation does not fully reflect the strength of our balance sheet, including our cash and restricted position, nor the opportunities we see to drive incremental shareholder value.”

Financial Performance

Net premiums earned for the three months ended December 31, 2025 decreased to $555,000 from $595,000 for the quarter ended December 31, 2024. The decrease is due to lower weighted average ra

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Oxbridge Highlights 2025/26 Contract Performance Updates and Reports Q3 2025 Results

GRAND

CAYMAN, Cayman Islands (November 6, 2025) -- Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs), together with its subsidiary SurancePlus, today reported its results for the three and nine months ended September 30, 2025.

SurancePlus 2025–2026 Tokenized Reinsurance Update

SurancePlus continues to demonstrate strong performance across its 2025–2026 tokenized reinsurance offerings. The Balanced Yield Token (EtaCat Re), which targeted a 20% annual return, is now tracking approximately 25%, while the High Yield Token (ZetaCat Re) remains on track to meet its 42% target. These results reflect the portfolio’s disciplined underwriting approach and highlight how tokenized reinsurance can deliver consistent, uncorrelated returns within the $750 billion TAM reinsurance market.

Ecosystem Engagement & Events

Since the prior quarterly update, the Company has continued active participation in the global RWA and Web3 ecosystem. Oxbridge and SurancePlus attended Rare Evo (Las Vegas) and TOKEN2049 (Singapore); spoke at Spectrum 2025 (Grand Cayman); and are scheduled to speak at Uncorrelated Cayman 2025 (Grand Cayman).

Looking Ahead

As we prepare the next SurancePlus rollout, we are considering introducing regular dividend payouts on our security-backed CatRe tokens, moving away from a purely annual payout model.

Jay Madhu Chairman and CEO commented, “Through disciplined underwriting, our RWA tokenized reinsurance program is delivering attractive, high-quality, uncorrelated returns in a compliant, accessible format, while broadening investor participation. Both our RWA tokens are on pace to achieve approximately 25%, exceeding its 20% target, and the High Yield Token remains on track to achieve its 42% target”.

Financial Performance

Net premiums earned for the quarter ended September 30, 2025 decreased to $555,000 from $595,000 for the quarter ended September 30, 2024. The decrease is due to lower weighted average rate on reinsurance contracts in force during the quarter ended September 30, 2025, when compared to the prior period.

Net premiums earned for the nine-months ended September 30, 2025 increased to $1.73 million from $1.71 million for the nine-month period ended September 30, 2024. The increase is due to higher weighted average rate on reinsurance contracts in force during the nine-month period ended September 30, 2025, when compared to the prior period.

Net loss for the quarter ended September 30, 2025 was $187,000, or ($0.02) basic and diluted loss per share compared to a net loss of $540,000, or ($0.09) basic and diluted loss per share, for the quarter ended September 30, 2024. The decrease in net loss is primarily due to the decrease in unrealized loss on other investments during the quarter ended September 30, 2025 when compared with the prior period.

Net loss for the nine-months ending September 30, 2025 was $2.19 million, or ($0.30) basic and diluted loss per share compared to a net loss of $2.27 million, or ($0.37) basic and diluted loss per share, for the nine months ending September 30, 2024. The decrease in net loss is primarily due to the decrease in unrealized loss on other investments during the nine months period ended September 30, 2025 when compared with the prior period.

For the three months ended September 30, 2025, total expenses, including policy acquisition costs and general and administrative expenses, increased to $815,000 from $498,000 for the quarter ended September 30, 2024. The increase is primarily due to increased professional costs relating to investor relations, our web3 subsidiary tokenization costs, S-3 related costs, increased human resources and personnel costs and legal expenditures when compared with the prior period.

For the nine months ending September 30, 2025, total expenses, including policy acquisition costs, loss and loss adjustment expenses and general and administrative expenses, increased to $4.99 million from $1.67 million for the nine months ending September 30, 2024. The increase is primarily due to increased professional costs relating to investor relations, our web3 subsidiary tokenization costs, S-3 related costs, increased human resources and personnel costs and legal expenditures. The recording of full limit loss on one of the reinsurance contracts during the quarter ending June 30, 2025 also contributed towards the increase in total expenses when compared with the prior period.

As of September 30, 2025, our restricted cash and cash equivalents increased by $1.28 million or 21.7%, to $7.18 million, from $5.9 million as of December 31, 2024. The increase is the net result of premium deposits made during the nine-months ending September 30, 2025, the registered direct offering that generated $2.7 million net of expenses,

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Highlights Growth in Tokenized Reinsurance, Strategic Partnerships, and Reports Q2 2025 Results

GRAND

CAYMAN, Cayman Islands (August 14, 2025) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs), together with its subsidiary SurancePlus, today reported its results for the quarter and six-month period ended June 30, 2025.

“The quarter marked a pivotal moment for Oxbridge and SurancePlus. We have not only expanded our footprint in the rapidly growing tokenized reinsurance market but also forged strategic partnerships that position us for accelerated growth. As the first Nasdaq-listed company to issue a tokenized reinsurance security, we are proving that innovation and compliance can go hand-in-hand, creating new opportunities for investors and setting a high standard for the industry. We have scheduled an Extraordinary General Meeting to approve measures that will accelerate our strategy and strengthen our leadership. These initiatives, combined with our focus on transparency, position us to capture significant growth opportunities in the quarters ahead,” said Jay Madhu, Chairman and CEO of Oxbridge.

Building on the Company’s Memorandum of Understanding (MOU) with Plume last quarter, a leading Real-World Asset (RWA) platform with institutional-grade tokenization infrastructure and a proven track record in scaling compliant blockchain solutions, the Company announced a strategic partnership with the Midnight Foundation. The Midnight Foundation supports ecosystem growth and enterprise adoption for the Midnight Network, a privacy-focused blockchain built by Shielded Technologies, a subsidiary of Input Output Global (IOG), the firm behind Cardano. These alliances expand SurancePlus’s reach, strengthen distribution capabilities, and position the platform at the forefront of blockchain-enabled RWA innovation.

SurancePlus is also highlighting its launched 2025–2026 tokenized reinsurance offerings, which provide a diverse range of investment opportunities within the $750 billion reinsurance market, a sector historically uncorrelated to broader capital markets. These offerings include a balanced-yield product targeting a 20% annual return and a high-yield product targeting a 42% annual return. Together, they broaden the investor base by delivering compliant, blockchain-powered pathways into a large, traditionally inaccessible asset class.

This year, the Company has been an active participant and sponsor at leading Blockchain and RWA events globally, including iConnections in Miami, ETHDenver 2025 and RWA Day in Denver, Apex Invest 2025 in the Cayman Islands, Token2049 in Dubai, Money20/20 Europe in Amsterdam, Permissionless IV and Yield Day NYC in New York, EthCC in Cannes, and Rare Evo 2025 in Las Vegas. These forums provided an opportunity to showcase SurancePlus, strengthen industry relationships, sign new partnerships, and explore collaborative opportunities with leading blockchain platforms.

Financial Performance

Net premiums earned for the quarter ended June 30, 2025 increased to $582,000 from $564,000 for the quarter ended June 30, 2024. Net premiums earned for the six-months ended June 30, 2025 increased to $1.18 million from $1.11 million for the quarter ended June 30, 2024. The increases are due to the higher rates on contracts that were in force in the three and six-month periods ended June 30, 2025 when compared to the contracts in force in the prior-year periods.

Net loss for the quarter ended June 30, 2025 was $1.87 million, or ($0.25) basic and diluted loss per share compared to a net loss of $821,000, or ($0.14) basic and diluted loss per share, for the quarter ended June 30, 2024. Net loss for the six-months ended June 30, 2025 was $2.01 million, or ($0.28) basic and diluted loss per share compared to a net loss of $1.73 million, or ($0.29) basic and diluted loss per share, for the six months ended June 30, 2024. The increases in net loss are primarily due to the adverse development and loss recognition from Hurricane Milton on one of our reinsurance contracts during the three and six-month periods ended June 30, 2025, when compared with the prior periods.

For the quarter ended June 30, 2025, total expenses, comprising of loss and loss adjustment expenses, policy acquisition costs and general and administrative expenses, increased to $3.61 million from $628,000 for the quarter ended June 30, 2024. For the six months ended June 30, 2025, total expenses, increased to $4.18 million from $1.18 million for the six months ended June 30, 2024. The increases are primarily due to the adverse development and loss recognition from Hurricane Milton, coupled with increased human resources and personnel costs, professional marketing and IR costs, our web3 subsi

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Highlights Growth in Tokenized Reinsurance, Strategic Partnerships, and Reports Q1 2025 Results

GRAND

CAYMAN, Cayman Islands (May 12, 2025) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), which together with its subsidiary SurancePlus is engaged in the business of tokenized Real-World Assets (“RWAs”), initially in the form of tokenized reinsurance securities, and reinsurance business solutions to property and casualty casualty - bridging the gap between the SEC, blockchain, and tokenization. The company today, reported its results for the three months ended March 31, 2025.

“As the first Nasdaq-listed company to issue a tokenized security in reinsurance, Oxbridge Re, through SurancePlus, is transforming access to this asset class,” said Jay Madhu, Chairman and CEO of Oxbridge Re. “We are proud of our progress and remain focused on expanding SurancePlus, democratizing access to reinsurance with a commitment to transparency and compliance.”

The Company recently signed a Memorandum of Understanding (MOU) with Plume, a blockchain platform managing over $4.5 billion in assets and serving 18 million unique addresses. This partnership represents a significant opportunity to enhance distribution, while Oxbridge Re continues to explore additional partnerships to further broaden its reach.

SurancePlus is also highlighting its previously launched 2025–2026 tokenized reinsurance offerings, which provide a diverse range of investment opportunities. These offerings include a balanced-yield product targeting a 20% annual return, designed for investors seeking stable, attractive yields with moderate risk, and a high-yield option targeting a 42% annual return. These options broaden the investor base, offering both risk-averse and high-return-seeking investors a compliant, blockchain-powered pathway to participate in the reinsurance sector.

The company actively participated in major global tokenization and blockchain events, including Consensus 2024 in Austin, Texas, Token2049 in Singapore, and Token2049 in Dubai. These forums provided an opportunity to showcase SurancePlus, strengthen industry relationships, and explore collaborative opportunities with leading blockchain platforms.

“Supported by a strong balance sheet and a disciplined approach, we are well-positioned to capitalize on emerging opportunities in the RWA sector,” added Madhu. “Looking ahead, we remain committed to scaling SurancePlus with integrity, innovation, and a focus on long-term value creation.”

Financial Performance

Net premiums earned for the quarter ended March 31, 2025 increased to $595,000 from $549,000 for the quarter ended March 31, 2024. The increase is due to the rates on contracts that were in force in the quarter ended March 31, 2025 when compared to the contracts in force in the prior period.

For the three months ended March 31, 2025, the Company generated net loss of $139,000 or ($0.02) per basic and diluted loss per share compared to net loss of $905,000 or ($0.15) per basic and diluted earnings per share, for the quarter ended March 31, 2024. The decrease in net loss is primarily due to the positive change in the fair value of equity securities and sale of investments in Jet.AI during the quarter ended March 31, 2025 when compared with the prior period.

1

For the three months ended March 31, 2025, total expenses, including policy acquisition costs and general and administrative expenses, increased to $570,000 from $548,000 for the quarter ended March 31, 2024. The increase is primarily due to the value stock-based compensation incurred during the three-month period ending March 31, 2025 as a result of higher share price on grant date.

As of March 31, 2025, our restricted cash, and cash equivalents increased by $3.7 million, or 62.85%, to $9.6 million, from $5.9 million as of December 31, 2024. The increase is primarily due to premium deposits made during the three months ending March 31, 2025 as well the completion of a registered direct offering that generated $2.7 million net of expenses.

Financial Ratios

Loss Ratio. The loss ratio is the ratio of losses and loss adjustment expenses incurred to premiums earned and measures the underwriting profitability of our reinsurance business. The loss ratio remained consistent at 0% for the quarter end March 31, 2025 compared with the quarter ended March 31, 2024.

Acquisition Cost Ratio. The acquisition cost ratio is the ratio of policy acquisition costs and other underwriting expenses to net premiums earned. The acquisition cost ratio measures our operational efficiency in producing, underwriting and administering our reinsurance business.

The acquisition cost ratio remained consistent at 10.9% for the quarter end March 31, 2025 compared with the quarter ended March 31, 2024.

Expense Ratio. The expense ratio is

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports Fiscal 2024 Results

GRAND

CAYMAN, Cayman Islands (March 26, 2025) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (“Oxbridge Re” or the “Company”), which together with its subsidiaries, is engaged in the business of tokenized Real-World Assets (“RWAs”), initially in the form of tokenized reinsurance securities, and reinsurance business solutions to property and casualty insurers in the Gulf Coast region of the United States, today reported its results for the three months and year ended December 31, 2024.

“SurancePlus is entering its third year in the Real World Asset (RWA) space, leveraging blockchain technology to tokenize targeted reinsurance contracts. As a Nasdaq-listed company, Oxbridge Re, through its subsidiary SurancePlus Inc., became the first public company to issue a security token in reinsurance—bridging the gap between the SEC, blockchain, and tokenization. This innovation significantly lowers the barrier to entry for an asset class that traditionally required millions of dollars to access, enabling participation with as little as $5,000 while maintaining rigorous AML and accreditation checks—often completed in under four minutes,” said Jay Madhu, Chairman and Chief Executive Officer of Oxbridge Re. “We are proud of our success in this space and look forward to further expanding SurancePlus in the Security Token and RWA sector, effectively democratizing access to reinsurance while ensuring strict transparency and compliance. With the RWA tokenization market currently projected to reach as much as $30 trillion by 2030, SurancePlus is well positioned to capitalize on this substantial growth opportunity.”

Mr. Madhu continued “Subsequent to the year end, the Company completed a reverse direct offering raising gross proceeds of $3 million. These steps reflect our continued focus on strengthening the Company’s capital position while pursuing scalable growth opportunities in a rapidly evolving market. Looking ahead, we believe Oxbridge Re is well positioned to build on this momentum. Our subsidiary, SurancePlus Inc. has recently announced a strategic partnership with Plume, a blockchain platform supporting over $4.5 billion in assets and more than 18 million unique addresses. This collaboration marks a significant milestone in expanding distribution for our tokenized reinsurance offerings. As institutional and retail interest in real-world asset tokenization continues to accelerate, we remain focused on scaling our platform with discipline, transparency, and regulatory compliance. Furthermore, SurancePlus has launched its 2025–2026 tokenized reinsurance offerings, introducing a new balanced-yield security targeting a 20% annual return, while continuing its high-yield offering targeting a 42% annual return. By broadening our range of risk-return options, this year’s structure is designed to attract to a broader investor base, reinforcing our mission to make institutional-grade reinsurance accessible through compliant, blockchain-powered real-world assets.”

Financial Performance

Net premiums earned for the three months ended December 31, 2024, were $595,000 compared to $523,000 in the prior year. For the year ended December 31, 2024, net premiums earned increased to $2,303,000 from $1,255,000 in the prior year. This increase is primarily attributed to the higher rates on contracts as well as the prior period recognizing only seven months of premiums due to the acceleration of premiums on contracts in force during at December 31, 2022. In contrast, the current year ended December 31, 2024 accounted for a full twelve (12) months of premiums.

For the three months ended December 31, 2024, the Company generated net loss of $460,000 or $0.05 per basic and diluted loss per share compared to a net loss of $2.67 million or $0.46 per basic and diluted earnings per share in the fourth quarter of 2023. For the year ended December 31, 2024, the Company incurred a net loss of $2.7 million or $0.45 per basic and diluted loss per share compared to net loss of $9.9 million or $1.69 per basic and diluted earnings per share in the prior year. The decline in Q4 and fiscal 2024 is primarily due to a decrease in the negative change in the fair value of our investment in Jet.AI (which was sold subsequent to the year-end) as well as the company accounting for non-controlling interests’ portion of its income.

Total expenses, including losses and loss adjustment expenses, policy acquisition costs and general and administrative expenses, were $497,000 and $2.1 million for the three months and year ended December 31, 2024, respectively, compared to $535,000 and $2.3 million, respectively, for the same periods in the prior year. The decrease in 2024 is due to expense fluctuations along with efficiencies associated with SurancePlus offerings being recogni

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Reports Update on its RWA Tokenized Security, its Business and Third Quarter 2024 Results

GRAND

CAYMAN, Cayman Islands (November 13, 2024) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), together with its subsidiaries which is engaged in the business of tokenized Real-World Assets (“RWAs”) initially in the form of tokenized reinsurance securities, and reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, reported its results for the three and nine months ended September 30, 2024.

“We are energized by the progress of our Web3/RWA subsidiary, SurancePlus, which issues tokenized securities backed by reinsurance contracts as the underlying asset and currently launched on the Avalanche blockchain. SurancePlus seamlessly integrates SEC regulatory standards with blockchain technology, ensuring full transparency and compliance,” said Jay Madhu, Chairman and Chief Executive Officer. “By opening access to an asset class historically limited to a select few due to high financial barriers to entry, SurancePlus is breaking new ground. Leveraging RegD and RegS frameworks, investors can now enter this unique asset class within minutes, efficiently completing AML, KYC, and document signing requirements.”

Mr. Madhu continued, “Going forward, we intend to issue two tranches of tokenized securities, one high yield token targeting a 42% return, and one balance yield token targeting a 22% return. Additionally, our strategic partnership with Zoniqx, which has facilitated over $4 billion of assets on-chain, positions SurancePlus for continued growth as we enter our second year of issuing tokenized securities. With a solid business model and no debt, we are confident that SurancePlus will drive meaningful growth for our shareholders and further expand our influence in the RWA space in the coming years.”

Marketing Strategy

As part of our comprehensive marketing strategy, we are actively participating in a series of prestigious global tech talks, conferences, and fintech events to further promote our brand and engage with industry leaders. Recent notable events that we have attended include RWA Day in Salt Lake City, Utah (October 8, 2024), Token 2049 in Singapore (September 18-19, 2024), Ripple Swell in Miami (October 15-16, 2024), Digital Assets Week in Singapore (November 4-5, 2024) and FinTech Festival in Singapore (November 6-8, 2024) for which our Chairman and CEO Jay Madhu participated as a speaker at some of above events.

In addition to these events, we are pleased to announce our upcoming participation in the following key industry conferences:

● Abu Dhabi Business Week in Abu Dhabi (December 4-6, 2024)

● Abu Dhabi Finance Week in Abu Dhabi (December 9-12, 2024)

● Global Blockchain Congress in Dubai (December 12-13, 2024)

We will continue to share updates on our participation in these events through press releases and look forward to connecting with key stakeholders across the digital assets, blockchain, and fintech sectors.

Financial Performance

For the three months ended September 30, 2024, the Company generated a net loss of $540,000 or $(0.09) per basic and diluted share compared to net loss of $7.3 million or ($1.24) per basic and diluted common share in the third quarter of 2023. The decrease is primarily due to the decrease in unrealized losses on other investments during the quarter when compared with the same period last year. For the nine months ended September 30, 2024, the Company generated a net loss of $2.27 million or ($0.37) per basic and diluted common share compared to a net loss of $7.2 million, or $1.23 basic and diluted share for the nine months ended September 30, 2023. The improved results were primarily due to higher revenues driven by the decrease in unrealized losses on other investments.

Net premiums earned for the three months ended September 30, 2024 were $595,000 compared to $549,000 in the same prior year period. For the nine months ended September 30, 2024 net premiums earned were $1.71 million compared to $732,000 in the prior year. The increase was due to reinsurance contracts in force during the full periods ended September 30, 2024 compared to the prior year.

1

There were no losses incurred for the three and nine months ended September 30, 2024 or 2023.

Total expenses were $498,000 for the three months ended September 30, 2024 compared to $688,000 for the same period in the prior year. For the nine months ended September 30, 2024 total expenses were $1.67 million compared to $1.8 million in the prior year. The decrease is due to the decrease in offering costs associated with SurancePlus being recognized when compared with the same period last year.

At September 30, 2024, cash and cash equivalents, and restricted cash and cash equivalents were $4.8 million compar

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Reports Update on Business and Second Quarter 2024 Results

GRAND

CAYMAN, Cayman Islands (August 8, 2024) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), together with its subsidiaries which is engaged in the business of tokenized Real-World Assets (“RWAs”) initially in the form of tokenized reinsurance securities, and reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, reported its results for the three and six months ended June 30, 2024.

“Our stable performance persisted into the second quarter of 2024, with no losses incurred,” stated Jay Madhu, Chairman and Chief Executive Officer of Oxbridge Re Holdings.

“Following Delta CatRe’s targeted 42% payout last year, which was successfully exceeded at 49%, we are pleased to announce the completion of EpsilonCat Re private placement of approximately $2.8 million in tokenized securities within our RWA/Web3-focused subsidiary, SurancePlus Inc. This alternative investment leverages key aspects of blockchain technology to create a well-designed digital security, issued on the Avalanche blockchain,” Mr. Madhu continued. “Provided there are no losses from our reinsurance contracts, investors in EpsilonCat Re tokenized securities can expect an estimated annual return of 42%.

We also recently announced a strategic partnership with Zoniqx, which has issued over $4 billion in assets on-chain to date. SurancePlus is now a well-capitalized business with substantial growth potential for our shareholders. We are proud of this accomplishment and look forward to this exciting new entity diversifying and accelerating our growth in the RWA space in the coming years.”

“Looking ahead, with a strong balance sheet, no debt, and a well-diversified business from our recent transactions, we remain highly confident in our future ability to deliver shareholder value,” concluded Jay Madhu.

Financial Performance

For the three months ended June 30, 2024, the Company generated a net loss of $821,000 or $(0.14) per basic and diluted common share compared to net loss of $85,000 or ($0.01) per basic and diluted common share in the second quarter of 2023. The decrease is due primarily negative change in the fair value of equity securities and other investments during the quarter. For the six months ended June 30, 2024, the Company generated a net loss of $1.73 million or ($0.29) per basic and diluted common share compared to a net profit of $57,000 or $0.01 basic and diluted common share for the six months ended June 30, 2023. The worsened results were primarily due to lower total revenues driven by the increase in unrealized losses on other investment and equity securities.

Net premiums earned for the three months ended June 30, 2024 were $564,000 compared to $183,000 in the same prior year period. For the six months ended June 30, 2024 net premiums earned were $1.1 million compared to $183,000 in the prior year. The increases are primarily due to the prior periods recognizing only one month of premiums because of premium acceleration on the reinsurance contracts in force. In contrast, the quarter and six months ended June 30, 2024, recognized a full three and six months of premiums, respectively.

There were no losses incurred for the three and six months ended June 30, 2024 or 2023.

Total expenses were $628,000 for the three months ended June 30, 2024 compared to $697,000 for the same period in the prior year. For the six months ended June 30, 2024 total expenses were $1.17 million compared to $1.1 million in the prior year. The increase was due to higher policy and acquisition costs when compared to the prior year.

At June 30, 2024, cash and cash equivalents, and restricted cash and cash equivalents were $3.98 million compared to $3.7 million at December 31, 2023.

Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio was 0% for the period ended June 30, 2024 and 2023 due to no loss or loss adjustment expenses in either period.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency and compares policy acquisition costs with net premiums earned, increased marginally to 11.0% for the three and six-month periods ended June 30, 2024 from 10.9% for the same period last year.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio decreased to 105.7% for the six months ended June 30, 2024 from 601.6% in the prior year due to the higher levels of premium earned during the period.

Combined ratio. The combined ratio, which is used to measure underwriting performance, is the sum

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports First Quarter 2024 Results

GRAND

CAYMAN, Cayman Islands (May 9, 2024) — Oxbridge Re Holdings Limited ( NASDAQ: OXBR ), (the “Company”), which together with its subsidiaries is engaged in the business of tokenized Real-World Assets (“RWAs”), initially in the form of tokenized reinsurance securities and reinsurance solutions primarily to property and casualty insurers, today reported its results for the three months ended March 31, 2024.

“We were pleased with our core operational performance in the first quarter of 2024 in our Web-3 and reinsurance tokenization business,” commented Oxbridge Re Holdings Chairman and Chief Executive Officer Jay Madhu. “Through our subsidiary, SurancePlus Inc., we have issued what we believe to be the inaugural Tokenized Reinsurance Securities under the sponsorship of a publicly-traded company. As previously reported, investors in our 2023 issued Delta CatRe tokens digital security are poised to realize returns exceeding 45%.”

“Further reinforcing our strategic vision and outlook, Blackrock previously announced its intention to tokenize $10 trillion of its assets, and more recently, Securitize announced they had secured $47m funding led by Blackrock to expand RWA tokenization. As such we remain steadfast in our commitment to driving innovation and delivering value to our stakeholders and we look forward to continued success in the evolving landscape of reinsurance and Web3 technologies,” Jay Madhu concluded.

Financial Performance

At March 31, 2024, cash and cash equivalents, and restricted cash and cash equivalents were $4.3 million compared to $3.7 million at December 31, 2023.

For the three months ended March 31, 2024, the Company generated a net loss of $905,000 or ($0.15) per basic and diluted common share compared to a net income of $142,000 or $0.02 per basic and diluted common share in the first quarter of 2023. The decrease is primarily due to the negative change in the fair value of equity securities and investments during the quarter ended March 31, 2024 when compared with the prior period.

1

Net premiums earned for the three months ended March 31, 2024 increased to $549,000 from $0 in the prior year’s first quarter . The increase is due to the contracts in force in the quarter ended March 31, 2024, as opposed to the prior period in which premiums were accelerated prior to the quarter ending March 31, 2023 as a result of losses incurred from Hurricane Ian.

There were no losses incurred for the three months ended March 31, 2024 or 2023.

Total expenses were $548,000 for the three months ended March 31, 2024 compared to $404,000 for the same period in the prior year. The increase in 2024 was due to higher professional and legal expenses incurred during the three-month period ended March 31, 2024, as well as no policy acquisition costs recorded in the prior period.

Financial Ratios

Loss Ratio. The loss ratio which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio remained consistent at 0% for the quarter end March 31, 2024 and 2023 due to no loss or loss adjustment expenses in either period.

Acquisition Cost Ratio. The acquisition cost ratio, which ratio measures our operational efficiency, compares policy acquisition costs with net premiums earned, increased to 10.9% for the quarter ended March 31, 2024 from 0% in he prior period due to premiums being earned and acquisition costs being expensed during the quarter ending March 31, 2024, when compared with the first quarter of 2023.

Expense Ratio. The expense ratio which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio increased to 99.8% for the three-months ended March 31, 2024 from 0.0% in the prior year. The increase is due to higher general administrative expenses incurred during the first quarter of 2024.

Combined Ratio. The combined ratio which is used to measure our underwriting performance, is the sum of the loss ratio and the expense ratio. The combined ratio increased to 99.8% for the three-months ended March 31, 2024 from 0.0% in the prior year. The increase is due to higher expenses incurred during the first quarter of 2024 when compared with the prior period.

Conference Call

Management will host a conference call later today to discuss these financial results, followed by a question and-answer session. President and Chief Executive Officer Jay Madhu and Chief Financial Officer Wrendon Timothy will host the call starting at 4:30 p.m. Eastern time. The live presentation can be accessed by dialing the number below or by clicking the webcast link available on the Investor Information section of the company’s website at www.oxbridgere.com.

Dat

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports Fiscal 2023 Results

GRAND

CAYMAN, Cayman Islands (March 26, 2024) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), which together with its subsidiaries is engaged in the business of tokenized Real-World Assets (“RWAs”), initially in the form of tokenized reinsurance securities, and reinsurance business solutions to property and casualty today, reported its results for the three months and year ended December 31, 2023.

“We are delighted by our operational performance this year, highlighted by significant milestones achieved. Notably, our subsidiary, SurancePlus, has issued what we believe to be the inaugural Tokenized Reinsurance Securities under the sponsorship of a publicly-traded company. Additionally, the establishment of our new Web3-focused division, SurancePlus Inc., marks a significant accomplishment. This wholly-owned subsidiary was formed without incurring any debt or dilution to our existing shareholders, demonstrating prudent financial management.

We are particularly enthusiastic about the prospects of our venture into RWA tokenization and the direction it sets for our company. The establishment of SurancePlus Inc. underscores our commitment to capitalizing on the burgeoning opportunities in the Web3 space. Through strategic initiatives undertaken this year, we are positioning ourselves for substantial growth within our SurancePlus subsidiary as a premier RWA Web3-focused entity.

Chairman and Chief Executive Officer, Jay Madhu, remarked, ‘Further reinforcing our strategic vision, Blackrock has announced its intention to tokenize $10 trillion of its assets. Concurrently, we witness the steady adoption of blockchain technology across traditional financial institutions and asset classes, including fiat currencies, equities, government bonds, and real estate. As pioneers in the RWA market, we are energized by the transformative potential of our repositioning and the expansion into new business lines, which we believe will create significant value for our shareholders.

Moreover, we are pleased to report that investors in our 2023 issued Delta CatRe tokens are poised to realize returns exceeding 45%, surpassing our initial expectations of 42%. This achievement is particularly noteworthy, given the challenges posed by Hurricane Idalia, which made landfall as a Category 3 hurricane in 2023.

In conclusion, we remain steadfast in our commitment to driving innovation and delivering value to our stakeholders, and we look forward to continued success in the evolving landscape of reinsurance and Web3 technologies.”

Financial Performance

Net premiums earned for the three months ended December 31, 2023, were $523,000 compared to $nil in the same prior year period. For the year ended December 31, 2023, net premiums earned increased to $1,255,000 from $995,000 in the prior year. The increases are due to the higher rates on reinsurance contracts in force during the quarter and year ended December 31, 2023, when compared with the prior periods.

For the three months ended December 31, 2023, the Company generated net loss of $2.67 million or ($0.46) per basic and diluted loss per share compared net income of $678,000 or $0.12 per basic and diluted earnings per share in the fourth quarter of 2022. For the year ended December 31, 2023, the Company incurred a net loss of $9.9 million or ($1.69) per basic and diluted loss per share compared to net loss of $1.8 million or ($0.31) per basic and diluted earnings per share in the prior year.

The decrease observed in the financial results for the quarter and year ended December 31, 2023, can be attributed mainly to fluctuations in the fair market value of the Company's equity investment in Jet.AI. Additionally, there were slight increases in general expenses incurred during the launch of SurancePlus throughout the year ended December 31, 2023, in comparison to the previous year.

1

Total expenses, including losses and loss adjustment expenses, policy acquisition costs and general and administrative expenses, were $536,000 for the quarter ended December 31, 2023, when compared with $363,000 for the same period in 2022. The increase was due to the recognition of previously deferred offering costs.

For the year ended December 31, 2023, total expenses was $2.3 million, compared with prior period total expenses of $2.6 million. The decrease in 2023 was due to both an increase general and administration expenses being more than offset by the decrease in loss and loss adjustment expenses in 2023, when compared with losses of $1,073 thousand in fiscal 2022 as a result of Hurricane Ian.

At December 31, 2023, cash and cash equivalents, and restricted cash and cash equivalents were $3.7 million compared to $3.9 million at December 31, 2022.

Financial Ratios

Loss Ratio. The loss ratio, wh

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports Third Quarter 2023 Results

GRAND

CAYMAN, Cayman Islands (November 14, 2023) – Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), and its subsidiaries which are engaged in the business of tokenized Real World Assets (“RWAs”), initially in the form of Tokenized Reinsurance Securities, and reinsurance business solutions to property and casualty insurers, reported its results for the three and nine months ended September 30, 2023.

“We are pleased with our operational performance this year and the issuance by our subsidiary SurancePlus, of what we believe are the first Tokenized Reinsurance Securities sponsored by a subsidiary of a publicly-traded company,” commented Oxbridge Re Holdings Chairman and Chief Executive Officer Jay Madhu. “Investors in this year’s tokenized securities issued by SurancePlus are expected to receive an estimated 42% return on their investment in this treaty year,” Jay Madhu continued.

“This initiative is a testament to the success of the significant steps we have taken this year to fortify and diversify our business. The establishment of our new Web3 subsidiary, SurancePlus Inc., stands out as another remarkable achievement. The wholly-owned subsidiary was established without creating any debt or dilution to existing shareholders. We are very excited about the direction and potential of this new venture into RWA tokenization.”

“The company intends to position itself to exponentially grow our SurancePlus subsidiary as a pure RWA Web3 focused company by leveraging the significant steps we have taken this year. This will be done alongside the maintenance of our core and complimentary reinsurance business solutions to insurers in the Florida and the Gulf Coast states. According to forecasts from Boston Consulting Group, the tokenized RWA market is expected to grow exponentially over the next decade, with estimates of $16 trillion by 2030 as traditional financial institutions, including fiat currencies, equities, government bonds and real estate, continue to adopt blockchain technology. As an early entrant into this growing market, we are very excited about the potential our repositioning and new business lines will bring to our shareholders,” Mr. Madhu concluded.

Financial Performance

During the three months and nine months ended September 30, 2023, our new RWA tokenization Web3 focused subsidiary SurancePlus generated $300,000 in incentive, technology, origination and management (“ITOM”) fees on a token raise of approximately $2.4 million. On a consolidated basis, for the three months ended September 30, 2023, the Company generated a net loss of $7.3 million or $1.24 per basic and diluted common share compared to a net loss of $2.2 million or $0.37 per basic and diluted common share in the third quarter of 2022. The loss in the quarter is due primarily to an unrealized loss on other investments, representing our investment in Jet.AI Inc. For the nine months ended September 30, 2023, the Company generated a net loss of $7.2 million or $1.23 per basic and diluted common share compared to a net loss of $2.5 million or $0.43 per basic and diluted common share in the prior year. The increase in net loss was the result of an unrealized loss on other investments and equity securities more than offsetting the underwriting income and SurancePlus ITOM fee income compared with the prior year.

Net premiums earned for the three months ended September 30, 2023, were $549,000 compared to $591,000 in the same prior year period. For the nine months ended September 30, 2023, net premiums earned were $732,000 compared to $995,000 in the prior year. The decreases are due to the acceleration of premium recognition on one of the Company’s reinsurance contracts in the prior year due to a limit loss suffered during the prior year.

1

Total expenses were $688,000 for the three months ended September 30, 2023, compared to $1.5 million for the same period in the prior year. For the nine months ended September 30, 2023, total expenses were $1.8 million compared to $2.2 million in the prior year. The decrease in 2023 was due to the triggering of a limit loss on two of the Company’s reinsurance contracts in September 2022 due to the impact of Hurricane Ian, partially offset by lower policy acquisition costs and underwriting expenses and increased general and administrative expenses in 2023 due to inflationary expense fluctuations and the recognition of previously deferred offering costs.

At September 30, 2023, cash and cash equivalents, and restricted cash and cash equivalents were $3.6 million compared to $3.9 million at December 31, 2022.

Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports Second Quarter 2023 Results

GRAND

CAYMAN, Cayman Islands (August 14, 2023) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported its results for the three and six months ended June 30, 2023.

“Our stable performance continued in the second quarter of 2023 with, again, no losses incurred,” commented Oxbridge Re Holdings Chairman and Chief Executive Officer Jay Madhu

“During the second quarter we were pleased to complete the private placement of approximately $2.4 million in securitized tokens by our new Web3-focused subsidiary SurancePlus Inc., an alternative investment opportunity leveraging key qualities of blockchain technology to create a well-designed digital security,” Mr. Madhu continued. “Assuming there are no losses underwritten by our reinsurance contracts, investors in the securitized tokens are expected to generate a potential annual return of an estimated 42%.” (See SurancePlus Offering below.)

“SurancePlus is now a brand-new, well-capitalized business and growth opportunity for our shareholders, created without any new debt and no equity dilution. We are very proud of this accomplishment and look for this exciting new entity to diversify and accelerate our growth prospects in the years ahead.”

“We were also pleased that, subsequent to the second quarter, Oxbridge Acquisition Corp. (NASDAQ: OXAC), the special purpose acquisition company in which we have a significant investment, completed its business combination agreement with Jet.AI Inc., a software and aviation company. The company develops software leveraging artificial intelligence and offers fractional aircraft ownership, jet card, aircraft brokerage and charter through its fleet of private aircraft and those of its operating partner. The software segment of the company features the B2C CharterGPT app and the B2B Jet.AI Operator platform. The CharterGPT app uses natural language processing and machine learning to improve the private jet booking experience. The Jet.AI operator platform offers a suite of stand-alone software products to enable FAA Part 135 charter providers to add revenue, maximize efficiency and reduce carbon footprint. The Aviation segment features jet aircraft fractions, jet cards, on-fleet charter, management, and buyer’s brokerage.’’ (See Subsequent Event below.)

“Looking ahead, with a strong balance sheet, no debt, and with our recent transactions a well-diversified business, we remain highly confident in our future ability to deliver shareholder value,” Jay Madhu concluded.

Financial Performance

For the three months ended June 30, 2023, the Company generated a net loss of $85,000 or $(0.01) per basic and diluted common share compared to net income of $77,000 or $0.01 per basic and diluted common share in the second quarter of 2022. The loss in the quarter is due primarily to higher general and administrative expenses as a result of the recognition of all costs associated with the SurancePlus token offering completed during the quarter. For the six months ended June 30, 2023, the Company generated a net profit of $57,000 or $0.01 per basic and diluted common share compared to a net loss of $310,000 or $(0.05) basic and diluted common share for the six months ended June 30, 2022. The improved results were primarily due to higher revenues driven by the increase in unrealized gains on other investment and equity securities.

1

Net premiums earned for the three months ended June 30, 2023 were $183,000 compared to $194,000 in the same prior year period. For the six months ended June 30, 2023 net premiums earned were $183,000 compared to $404,000 in the prior year. The decrease was due to reinsurance contracts in force during the period ended June 30, 2023 compared to the prior year.

There were no losses incurred for the three and six months ended June 30, 2023 or 2022.

Total expenses were $697,000 for the three months ended June 30, 2023 compared to $410,000 for the same period in the prior year. For the six months ended June 30, 2023 total expenses were $1.1 million compared to $772,000 in the prior year. The increase was due to higher general and administrative expenses resulting from inflationary expense fluctuations compared to the prior year, as well as the recognition during the second quarter of 2023 of all the one-time offering costs associated with the completion of the SurancePlus token offering.

At June 30, 2023, cash and cash equivalents, and restricted cash and cash equivalents were $3.5 million compared to $3.9 million at December 31, 2022.

Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio was

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports First Quarter 2023 Results

GRAND

CAYMAN, Cayman Islands (May 12, 2023) -- Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported its results for the three months ended March 31, 2023.

“We were pleased to generate positive performance in the first quarter of 2023 with no losses incurred,” commented Oxbridge Re Holdings Chairman and Chief Executive Officer Jay Madhu

“As an update to our business, in January 2023 we announced the creation of our new Web3 subsidiary SurancePlus Inc (“SurancePlus”). SurancePlus offers an alternative investment opportunity leveraging key qualities of blockchain technology to create a well-designed digital security under SEC guidelines that has complete transparency and compliance,” said Jay Madhu. “SurancePlus commenced an offering of securitized tokens which, assuming no losses, are expected to generate a potential return of 42% a year. This new thrust is an entry into the digital security market which opens an entirely new avenue of democratizing reinsurance and potentially other opportunities in the future.”

“We were also pleased that during this quarter, Oxbridge Acquisition Corp. (NASDAQ: OXAC), the special purpose acquisition company in which we have a significant investment, entered into a business combination agreement with Jet.AI Inc., a software and aviation company. The company develops software and offers fractional aircraft ownership, jet card, aircraft brokerage and charter through its fleet of private aircraft and those of its operating partner. The software segment of the company features the B2C CharterGPT app and the B2B Jet.AI Operator platform. The CharterGPT app uses natural language processing and machine learning to improve the private jet booking experience. The Jet.AI operator platform offers a suite of stand-alone software products to enable FAA Part 135 charter providers to add revenue, maximize efficiency and reduce carbon footprint. The Aviation segment features jet aircraft fractions, jet cards, on-fleet charter, management, and buyer’s brokerage. The transaction is expected to close around mid-July 2023 pending SEC and shareholder approval.’’ Further information on the business combination transaction can be found in the Registration Statement on S-4 (as amended) filed with the Securities and Exchange Commission on May 11, 2023.

“Looking ahead and simply put, we remain confident in our future,” Jay Madhu concluded.

Financial Performance

For the three months ended March 31, 2023, the Company generated net income of $142,000 or $0.02 per basic and diluted common share compared to a net loss of $387,000 or $(0.07) per basic and diluted common share in the first quarter of 2022. The increase during the quarter is due to the positive change in the fair value of equity securities and other investments in 2023 compared to last year-ago period.

Net premiums earned for the three months ended March 31, 2023 were nil compared to $210,000 in the same prior year period. The decrease was due to the acceleration of premium recognition on two of the Company’s reinsurance contracts due to a limit loss suffered in the quarter ended September 30, 2022 resulting in no premiums recorded in the first quarter of 2023 compared to the prior year. There were no losses incurred for the three months ended March 31, 2023 or 2022.

Total expenses were $404,000 for the three months ended March 31, 2023 compared to $361,000 for the same period in the prior year. The increase in 2023 was due to the acceleration of premium recognition as mentioned above and the resulting acceleration in in policy acquisition costs, as well as higher general and administrative expenses due to increased personnel expenses and inflationary expense fluctuations compared to the prior year period.

At March 31, 2023, cash and cash equivalents, and restricted cash and cash equivalents were $3.6 million compared to $3.9 million at December 31, 2022.

Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio was 0% for the quarter ended March 31, 2023 and 2022 due to no loss or loss adjustment expenses in either period.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned, decreased to 0% for the quarter ended March 31, 2023 compared to 11% in the prior year period due to no premiums being earned during the quarter ending March 31, 2023.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. Th

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports Fiscal 2022 Results

GRAND

CAYMAN, Cayman Islands (March 30, 2023) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported its results for the three months and year ended December 31, 2022.

“By limiting our exposure to underwriting losses through reinsurance contracts in 2022, we significantly reduced the potential loss resulting from Hurricanes Ian and Nicole during the year,” commented Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu.

“Earlier in 2023 we announced the creation of our new subsidiary SurancePlus Inc., offering an alternative investment opportunity leveraging key qualities of blockchain technology to create a well-designed digital security,” Mr. Madhu continued. “In other words, we are digitizing reinsurance securities leveraging blockchain technology via tokenized reinsurance securities. In addition we recently launched our capital raise for SurancePlus where investors in a loss-free period are expected to generate a return of approximately 196% in a three-year period.”

“Also subsequent to the year end ,Oxbridge Acquisition Corp. (NASDAQ: OXAC), a Special Purpose Acquisition Company (“SPAC”) in which we have an indirect investment, filed its business combination agreement to merge with Jet Token Inc. (“Jet”), a private aviation and artificial intelligence company offering fractional aircraft ownership, jet card, aircraft brokerage and charter services. The SPAC also recently filed its registration statement on Form S-4 with the Securities and Exchange Commission.” Mr. Madhu concluded.

Financial Performance

For the three months ended December 31, 2022 the Company generated net income of $678,000 or $0.12 per basic and diluted earnings per share compared net income of $1.6 million or $0.27 per basic and diluted earnings per share in the fourth quarter of 2021. For the year ended December 31, 2022 the Company incurred a net loss of $1.8 million or ($0.31) per basic and diluted loss per share compared to net income of $8.6 million or $1.49 per basic and diluted earnings per share in the prior year. The decline in fiscal 2022 is primarily due to a decrease in unrealized gains on the Company’s investment in the SPAC and increased loss and loss adjustment expenses related to the impact of Hurricane Ian during the year.

Net premiums earned for the three months ended December 31, 2022 were nil compared to $210,000 in the same prior year period. For the year ended December 31, 2022 net premiums earned increased to $995,000 from $965,000 in the prior year. The increase in 2022 was due to the acceleration of premium recognition on two of the Company’s reinsurance contracts due to a limit loss suffered during year as well as higher rates on reinsurance contracts compared to the prior year.

Total expenses, including losses and loss adjustment expenses, policy acquisition costs and general and administrative expenses, were $363,000 and $2.6 million for the three months and year ended December 31, 2022, respectively, compared to $482,000 and $1.6 million, respectively, for the same periods in the prior year. The overall increase in 2022 was due to a limit loss incurred on two of the Company’s reinsurance contracts due to the impact of Hurricane Ian, as well as higher general and administrative expenses due to inflationary expense fluctuations and the hiring of an additional member of staff in 2022.

1

At December 31, 2022, cash and cash equivalents, and restricted cash and cash equivalents were $3.9 million compared to $5.4 million at December 31, 2021.

Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio increased to 107.8% for the year ended December 31, 2022 compared to 16.4% in the prior year due to the limit losses suffered on two of the Company’s reinsurance contracts as a result of Hurricanes Ian, partially offset by a higher denominator in net premiums earned, compared with the prior year.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned, remained consistent at 11.0% for the year ended December 31, 2022 compared to the prior year.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio increased to 153.1% for the year ended December 31, 2022 from 146.2% for the prior year due to higher general and administrative expenses in 2022 compared to the prior year.

Combined ratio. The combined ratio, which is used to measure underwriting perform

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports Third Quarter 2022 Results

GRAND

CAYMAN, Cayman Islands (November 14, 2022) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported its results for the three and nine months ended September 30, 2022.

“Our resolve to limiting our exposure to underwriting losses through reinsurance contracts this year, helped significantly in lowering the potential loss caused by the catastrophic damage from Hurricane Ian and Hurricane Nicole”, commented Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu. “We continue to be optimistic about our future”.

Financial Performance

Net premiums earned for the three months ended September 30, 2022 increased to $591,000 from $370,000 in the same prior year period. For the nine months ended September 30, 2022, net premiums earned increased to $995,000 from $755,000 in the prior year. The increases are due to the acceleration of premium recognition on two of the Company’s reinsurance contracts due to a limit loss suffered during the third quarter of 2022 by Hurricane Ian, as well as higher rates on reinsurance contracts compared to the prior year.

For the three months ended September 30, 2022, the Company generated a net loss of $2.2 million or $0.37 per basic and diluted common share compared net income of $6.5 million or $1.14 per basic and diluted share in the third quarter of 2021. For the nine months ended September 30, 2022 the Company incurred a net loss of $2.5 million or $0.43 per basic and diluted share compared to net income of $7.0 million or $1.22 per basic and diluted share in the first nine months of the prior year. The declines are due to reduced realized investment gains, the negative change in the unrealized fair value of equity securities and other investments for the nine months ended September 30, 2022, as well as the impact of Hurricane Ian during the third quarter of the year, when compared with prior year.

Total expenses, including losses and loss adjustment expenses, policy acquisition costs and general and administrative expenses, were $1.5 million and $2.2 million for the three and nine months ended September 30, 2022, respectively, compared to $479,000 and $1.1 million, respectively, for the same periods in the prior year. The increases are due primarily to a larger underwriting loss during the current year periods, increase in policy acquisition costs due to acceleration of premium recognition and higher general and administrative expenses due to inflationary expense fluctuations to date in 2022, when compared with the prior periods.

At September 30, 2022, cash and cash equivalents, and restricted cash and cash equivalents were $4.4 million compared to $5.4 million at December 31, 2021. Other investments decreased to $10.2 million from $11.2 million at December 31, 2021 due to the change in the Company’s investment in Oxbridge Acquisition Corp in which the Company has an equity investment measured at fair value.

1

Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio increased to 181.6% and 107.8% for the three and nine months ended September 30, 2022, respectively, compared to 42.7% and 20.9% for the same prior year periods due to the limit losses suffered on two of the Company’s reinsurance contracts as a result of Hurricane Ian, partially offset by a higher denominator in net premiums earned, compared with the prior year.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned, decreased marginally to 11.0% for the three months ended September 30, 2022 from 11.1% in third quarter of 2021. For the nine months ended September 30, 2022 the acquisition ratio increased marginally to 11.1% from 11.0% in the prior year.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio decreased to 65.7% and 116.6% for the three and nine months ended September 30, 2022, respectively, from 86.8% and 122.9% for the same prior year periods. The decreases are due to a higher denominator in net premiums earned to due premium acceleration, partially offset by increased policy acquisition costs and general and administrative expenses in 2022 compared to the prior year.

Combined ratio. The combined ratio, which is used to measure underwriting performance, is the sum of the loss ratio and the expense ratio. The combined ratio increased to 247.2% and 224.4% for the three and nine months ended September 30, 2022, respectively, from

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Oxbridge Re Holdings Limited Reports Second Quarter 2022 Results

GRAND

CAYMAN, Cayman Islands (August 15, 2022) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported its results for the three and six months ended June 30, 2022.

Financial Performance

For the three months ended June 30, 2022 the Company generated net income of $77,000 or $0.01 per basic and diluted common share compared net income of $448,000 or $0.08 per basic and diluted common share in the second quarter of 2021. For the six months ended June 30, 2022 the Company incurred a net loss of $310,000 ($0.05 per share) compared to net income of $476,000 ($0.08 per common share) in the first six months of the prior year. The declines are due primarily to the negative change in fair value of equity securities and decreased net realized investment gain during the quarter and six months ended June 30, 2022 when compared with the prior periods.

Net premiums earned for the three months ended June 30, 2022 decreased marginally to $194,000 from $205,000 in the same prior year period. For the six months ended June 30, 2022 net premiums earned increased to $404,000 from $386,000 in the prior year. The increase is due to a higher weighted average rate on reinsurance contracts in force during the first six months of 2022.

Total expenses, including policy acquisition costs and general and administrative expenses, were $410,000 and $772,000 for the three and six months ended June 30, 2022, respectively, compared to $334,000 and $607,000, respectively, for the same periods in the prior year. The increases are due primarily to increased personnel and higher general and administrative expenses due to inflationary and other fluctuations.

At June 30, 2022, cash and cash equivalents, and restricted cash and cash equivalents, were $4.6 million compared to from $5.4 million at December 31, 2021.

1

Total investments increased $61 thousand in the first six months of 2022 primarily due to the net purchase of equity securities in the period. Other investments increased $341,000 due to the fair value change in the Company’s investment in Oxbridge Acquisition Corp in which the Company has an equity investment measured at fair value.

Solid Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. For the three and six months ended June 30, 2022 the loss ratio was 0%, consistent with the prior-year as there were no loss or loss adjustment expenses in either period.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned, increased marginally to 10.8% for the three months ended June 30, 2022 compared to 10.7% in second quarter of 2021. For the six months ended June 30, 2022 and 2021 the expense ratio was stable at 10.9%

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio increased to 211.3% for the three months ended June 30, 2022 from 162.9% in the second quarter of 2021. For the six months ended June 30, 2022 the expense ratio increased to 191.1% from 157.3% in the prior year. The increases are due primarily to higher personnel costs and other expenses in 2022.

Combined ratio. The combined ratio, which is used to measure underwriting performance, is the sum of the loss ratio and the expense ratio. The combined ratio increased to 211.3% and 191.1% for the three and six months ended June 30, 2022, respectively, from 162.9% and 157.3%, respectively, in the comparable prior year periods. The increases are due primarily to higher personnel costs and other expenses in 2022.

Management Commentary

“We continue to perform well in 2022 despite the current economic uncertainty and continuing volatility and significant declines in global capital markets,” commented Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu. “Looking ahead we remain highly optimistic about the long-term prospects for our core business, our investment in Oxbridge Acquisition Corp. which is progressing well, and currently, with the markets improving, what appears to be a comeback with our modest investment portfolio.”

Conference Call

Management will host a conference call later today to discuss these financial results, followed by a question and answer session. President and Chief Executive Officer Jay Madhu and Chief Financial Officer Wrendon Timothy will host the call starting at 4:30 p.m. Eastern time. The live presentation can be accessed by dialing the number below.

Date: August 15, 2022

Time: 4.30 p.m. Eastern time

Toll-free

number: 877-524-8416

International number: +1 412-902-1028

Please call

EX-99.1

2 oxbr_ex991.htm

EX-99.1

oxbr_ex991.htm

EXHIBIT 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Limited Reports First Quarter 2022 Results

GRAND CAYMAN, Cayman Islands (May 12, 2022) -- Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported its results for the three months ended March 31, 2022.

2022 HIGHLIGHTS:

· No underwriting losses incurred in first quarter of 2022;

· Net loss of $387,000 ($0.07 per share) due to negative unrealized change in investments;

· Premium income rises on higher rates on reinsurance contracts in force;

· Investment in Oxbridge Acquisition Corp. (“OXAC”) formed in 2021 to invest in disruptive technology markets with a particular focus on blockchain, insurtech and artificial intelligence sectors.

“While the recent volatility in the capital markets negatively impacted our investment portfolio in the quarter, we remain highly opportunistic as well as optimistic, about the long-term prospects for our core business and our investment in Oxbridge Acquisition Corp.” said Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu.

Financial Performance

For the three months ended March 31, 2022 the Company generated a net loss of $(387,000) or $(0.07) per basic and diluted common share compared a loss of $(28,000) or $(0.00) per basic and diluted common share in the first quarter of 2021. The decline is primarily due to the negative change in the fair value of equity securities and other investments for the quarter ended March 31, 2022.

Net premiums earned for the three months ended March 31, 2022 increased to $210,000 from $181,000 in the prior year’s first quarter. The increase is due to a higher weighted average rate on reinsurance contracts in force during the period ending March 31, 2022.

Total expenses, including policy acquisition costs and general and administrative expenses, were $361,000 in the first quarter of 2022 compared to $272,000 in the same prior year period. The increase is due primarily to higher personnel and other expenses in the period ending March 31, 2022.

At March 31, 2022, cash and cash equivalents, and restricted cash and cash equivalents, stood at $5.1 million compared with $5.4 million at December 31, 2021.

Total investments increased $188 thousand in the first quarter of 2022 primarily due to the net purchase of equity securities in the period. Other investments declined $230,000 due to the fair value change in the Company’s investment in Oxbridge Acquisition Corp in which the Company has an equity investment measured at fair value.

1

Solid Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. For the three months ended March 31, 2022 the loss ratio was 0%, consistent with the prior-year’s first quarter as there were no loss or loss adjustment expenses reported in either quarter.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned, remained consistent at 11.0% in both the first quarters of 2022 and 2021.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio increased to 171.9% for the three months ended March 31, 2022 from 150.3% in the first quarter of 2021. The increase is primarily due to higher personnel costs and other expenses reported during the first quarter of 2022.

Combined ratio. The combined ratio, which is used to measure underwriting performance, is the sum of the loss ratio and the expense ratio. The combined ratio increased to 171.9% for the three months ended March 31, 2022 from 150.3% in the prior year’s first quarter. The increase is primarily due to higher personnel costs and other expenses reported during the first quarter of 2022.

Conference Call

Management will host a conference call later today to discuss these financial results, followed by a question and answer session. President and Chief Executive Officer Jay Madhu and Chief Financial Officer Wrendon Timothy will host the call starting at 4:30 p.m. Eastern time. The live presentation can be accessed by dialing the number below or by clicking the webcast link available on the Investor Information section of the company’s website at www.oxbridgere.com.

Date: May 12, 2022

Time: 4.30 p.m. Eastern time

Toll-free number: 888-272-8703

International number: 713-481-1320

Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Issuer Direct at 919-481-4000 or webcast@issue

EX-99.1

2 oxbr_ex991.htm

PRESS RELEASE

oxbr_ex991.htm

EXHIBIT 99.1

Company Contact:

Oxbridge Re Holdings Limited

Jay Madhu, CEO

345-749-7570

jmadhu@oxbridgere.com

Oxbridge Re Holdings Reports Fourth Quarter and Full Year  2021 Results

GRAND CAYMAN, Cayman Islands (March 30th, 2022) -- Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported strong performance for the year ended December 31, 2021.

2021 HIGHLIGHTS:

· Net income of $8.6 million ($1.49 per share), up from a loss of $0.01 per share in 2020

· Investment in a special purpose acquisition company, Oxbridge Acquisition Corp. (“OXAC”) formed to invest in disruptive technology markets with a particular focus in the blockchain, insurtech and artificial intelligence sectors

· Balance sheet remains strong, with cash and restricted cash of $5.4 million and no debt

· Unrealized gain of $9.2 million on OXAC due to fair value gains

· Premium income rises on acceleration of premium recognition and higher contract rates

· Overall profitable underwriting in 2021, despite loss suffered from Hurricane Ida

· Current sidecar investors on track for another profitable contract year

“Our core reinsurance business remained strong through the year despite the 2021 Atlantic hurricane season being the third most active Atlantic hurricane season on record. In addition, our sidecar investors continue to be on track for a profitable return for the contract year ending May 31, 2022”, said Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu.  “Looking ahead, we remain highly optimistic about the long-term prospects for our business”.

Financial Performance

For the year ended December 31, 2021, the Company generated net income of $8.6 million or $1.49 per basic and diluted common share compared a loss of $(50,000) or $(0.01) per basic and diluted common share in 2020. For the three months ended December 31, 2021, net income was $1.6 million or $0.27 per basic and diluted common share compared to $181,000 or $0.03 per basic and diluted common share in the same period of the prior year. The significant gain in net income in 2021 is primarily due to the unrealized gain of $9.2 million on the Company’s beneficial interest in OXAC that is measured at fair value.

Net premiums earned for the year ended December 31, 2021 increased to $965,000 from $893,000 in the prior year. For the three months ended December 31, 2021 net premiums earned were $210,000 compared to $247,000 in the prior year. The increase in 2021 is due to both the triggering of a limit loss on one of the Company’s reinsurance contracts during the year, thus accelerating premium recognition under such contract, as well as higher rates on reinsurance contracts compared with the prior year.

Total expenses, including loss and loss adjustment expenses, policy acquisition costs and general and administrative expenses were $1.6 million in 2021 compared to $1.1 million in 2020. The increase is primarily to losses incurred as a result of Hurricane Ida, as well as an allowance for uncollectible premiums of $181,000 due to one of the Company’s ceding insurers being ordered into receivership subsequent to the year end.

1

For the three months ended December 31, 2021 total expenses were $482,000 compared to $289,000 in the same prior year period.  The increases are primarily due to losses incurred as a result of Hurricane Ida, an allowance for uncollectible premiums of $181 thousand due to one of the Company’s ceding insurers ordered into receivership subsequent to the year end, and expense fluctuations during the year.

At December 31, 2021, cash and cash equivalents, and restricted cash and cash equivalents, totaled $5.4 million compared with $7.5 million at December 31, 2020. Restricted cash and cash equivalents decreased at December 31, 2021 due to the net result of the withdrawal of collateral on expiry of contract, and the deposit of collateral for new treaty period during the year ended December 31, 2021.

Solid Financial Ratios

Loss Ratio.  The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. For the year ended December 31, 2021 the loss ratio increased to 16.4% compared to 0.0% in the prior year. The increase is due wholly to the limit losses suffered on one of the Company’s reinsurance contracts as a result of Hurricane Ida, partially offset by a higher denominator in net premiums earned, compared with the prior year.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned. The acquisition cost ratio remained consistent at 11.0% in both years.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums ear

EX-99.1

2 oxbr_ex991.htm

PRESS RELEASE

oxbr_ex991.htm

EXHIBIT 99.1

Oxbridge Re Holdings Limited Reports Strong Performance for First Nine Months of 2021

GRAND CAYMAN, CAYMAN ISLANDS / ACCESSWIRE / November 12, 2021 / Oxbridge Re Holdings Limited (NASDAQ:OXBR), (the “Company”), a provider of reinsurance solutions primarily to property and casualty insurers, reported improved results for the three and nine months ended September 30, 2021.

2021 HIGHLIGHTS:

· Net income of $6.5 million ($1.14 per share) in third quarter

· Investment in Oxbridge Acquisition Corp. (“OXAC”) formed to invest in disruptive technology markets, with a particular focus on blockchain, insurtech and artificial intelligence sectors.

· Unrealized gain of $7.1 million on completion of OXAC Initial Public Offering on August 11, 2021.

· Premium income rises on acceleration of premium recognition on reinsurance contract due to limit loss in third quarter

· Loss incurred of $158,000 on one contract due to impact of Hurricane Ida in third quarter

· Sidecar investors in Series 2021-1 participating notes earn approximately 17% return

“During the quarter, we were pleased to have completed our investment in Oxbridge Acquisition Corp., a Special Purpose Acquisition Company (“SPAC”) formed for investing in disruptive technologies businesses. Operationally, our core reinsurance business remains. Additionally, despite a record breaking 2020 hurricane season, our sidecar investors earned approximately 17% return for the contract year end of May 31, 2021,” said Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu. “Looking ahead, we remain highly optimistic about the long-term prospects for our core reinsurance business, our sidecar, and the investment in the SPAC.”

Financial Performance

For the three months ended September 30, 2021 the Company generated net income of $6.5 million or $1.14 per basic and diluted common share compared a loss of $(33,000) or $(0.01) per basic and diluted common share in the third quarter of 2020. For the nine months ended September 30, 2021, net income was approximately $7 million or$1.22 per basic and diluted common share compared with a net loss of $(232,000) or $(0.04) per basic and diluted common share in the same period last year. The significant gain in net income during the quarter is primarily due to the estimated unrealized gain of $7.1 million on the Company’s beneficial interest in OXAC that is measured at fair value.

Net premiums earned for the three months ended September 30, 2021 increased to $370,000 from $247,000 in the prior year. For the first nine months of 2021 net premiums earned increased to $755,000 from $646,000 in the prior year. The increases are due to the triggering of a limit loss on one of the Company’s reinsurance contracts due to the impact of Hurricane Ida on its book of business, thus accelerating premium recognition under such contract.

Total expenses, including policy acquisition costs and general and administrative expenses were $479,000 in the third quarter of 2021 compared to $266,000 in the third quarter of 2020. For the first nine months of 2021 total expenses were $1.1 million compared to $838,000 last year. The increases are due primarily to losses incurred during the period ended September 30, 2021 as a result of Hurricane Ida, when compared to the prior year.

At September 30, 2021, cash and cash equivalents, and restricted cash and cash equivalents, totaled $5.6 million compared with $7.5 million at December 31, 2020. Restricted cash and cash equivalents decreased at September 30, 2021 due to the net result of the withdrawal of collateral on expiry of contract, and the deposit of collateral for new treaty period during the nine months ended September 30, 2021.

Solid Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. For the three and nine months ended September 30, 2021 and 2020 the loss ratio increased to 42.7% and 20.9%, respectively, compared to 0.0% in the comparable prior year periods. The increases were due to the limit losses suffered on one of the Company’s reinsurance contracts as a result of Hurricane Ida, partially offset by a higher denominator in net premiums earned, compared with the previous periods.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned. The acquisition cost ratio changed marginally to 11.1% and 10.9% for the three and nine months ended September 30, 2021, from 11.0% and 11.0% last year. The marginal changes are not considered material.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio decreased to 86.8% and 122.9% for the three and nine months ended September 30