Oxbridge Re Holdings Conference Summary Company Overview - **Company Name**: Oxbridge Re Holdings - **Ticker Symbol**: OXBR - **Industry**: Reinsurance - **Location**: Cayman Islands - **Business Model**: Oxbridge operates as a reinsurance underwriter, focusing on homeowners insurance and utilizing blockchain technology to democratize access to reinsurance contracts through its subsidiary, SurancePlus [6][7][8][21]. Key Points and Arguments Business Model and Strategy - Oxbridge has transitioned traditional reinsurance into the blockchain space, allowing broader access to investment opportunities that typically require significant capital [7][8][15]. - The company offers tokenized securities that enable individuals to invest in reinsurance contracts with as little as $5,000, significantly lowering the barrier to entry [9][18][19]. - SurancePlus, the subsidiary, facilitates this democratization by managing the investment process and ensuring compliance with AML and KYC regulations [21][22]. Market Opportunity - The reinsurance market is valued at approximately $700 billion, with a significant opportunity for growth as many individuals are unaware of reinsurance and its benefits [14][24]. - Florida is identified as a key market due to its high frequency of hurricanes and the associated reinsurance costs, with $0.45 of every $1 in insurance premiums going towards reinsurance [28][30]. Performance Metrics - In 2023, Oxbridge targeted a 42% return on investments through its token offerings, achieving a 49% payout [13][18]. - The company reported that its 20% targeted return is currently tracking at about 25% [18]. Risk Management - Oxbridge employs a fully collateralized structure for its reinsurance contracts, meaning that it must back its contracts with cash, reducing counterparty risk and enhancing trust with investors [31][32]. - The company focuses on writing contracts primarily in Florida, leveraging its expertise in the region to manage risk effectively [26][28]. Future Growth and Milestones - Oxbridge plans to expand its SurancePlus platform and is exploring the potential to spin it off as a separate publicly traded entity [37][38]. - The company is moving its operations to the Solana blockchain to enhance growth opportunities and attract more investors [19][22]. Upcoming Announcements - Oxbridge is expected to make announcements regarding the growth of Assurance Plus and potential new strategies, including possible AI integrations [39][40]. Additional Important Information - The company emphasizes the importance of clarity, security, and compliance in its operations, which are critical for attracting investors [24][25]. - Oxbridge's approach to reinsurance is characterized by a focus on high-quality underwriting and risk dispersion, ensuring that the risks taken are well-managed [34][36]. This summary encapsulates the key insights from the Oxbridge Re Holdings conference, highlighting the company's innovative approach to reinsurance, market opportunities, and strategic growth plans.

Core Viewpoint - Oxbridge Re Holdings Limited has announced a strategic partnership with Alphaledger to digitize reinsurance securities as tokenized real-world assets, marking a significant entry into the Solana ecosystem and expanding access to high-yield, uncorrelated investment opportunities [1][2][3]. Group 1: Partnership and Offerings - The partnership was unveiled at Solana Breakpoint 2025, representing SurancePlus' first official entry into the Solana ecosystem [2]. - SurancePlus will offer tokenized reinsurance products targeting annual returns of 20% and 42% on Alphaledger's regulated platform, making these offerings available to a global investor base [3][4]. - The minimum investment for participation in SurancePlus' offerings is set at $5,000, broadening access to an asset class previously limited to institutional investors [4]. Group 2: Product Characteristics - The offerings are fully collateralized and uncorrelated, with SurancePlus claiming to be the first publicly traded company to tokenize participation in a reinsurance contract [5]. - Current active offerings are on track to achieve returns of approximately 25% and 42%, achieved without the use of leverage, highlighting the resilience of the reinsurance asset class [4]. Group 3: Strategic Positioning - By integrating with Alphaledger's Solana-regulated infrastructure "Vulcan Forge," SurancePlus aims to accelerate institutional-grade RWA adoption across Web3 [6]. - The partnership enhances the institutional RWA foundation on Solana, aligning with the growing demand for dependable, income-focused assets [7]. Group 4: Leadership Insights - The CEO of Oxbridge expressed pride in the partnership, emphasizing the importance of broadening access to a historically uncorrelated, high-yield asset class [7]. - The Co-Founder of Alphaledger noted that integrating SurancePlus' offerings enhances the institutional products available on their platform and supports the evolution of institutional finance on-chain [7].

Oxbridge Re Holdings Ltd. (NASDAQ:OXBR) and its subsidiary, SurancePlus, announced Thursday that they have partnered with Alphaledger to bring tokenized reinsurance securities to the Solana blockchain. Announced at Solana Breakpoint 2025 in Grand Cayman, the collaboration aims to open a historically institutional, uncorrelated asset class to a broader investor base through on-chain real-world assets. Under the agreement, SurancePlus will list its balanced-yield and high-yield tokenized reinsurance product ...

Core Viewpoint - Oxbridge Re Holdings Limited is actively participating in global events to promote its tokenized reinsurance offerings, highlighting the growing institutional demand for high-yield, uncorrelated assets [1][2]. Group 1: Company Initiatives - The company, along with its subsidiary SurancePlus, will attend premier global events in Abu Dhabi to showcase tokenized reinsurance as a compelling asset class [1][2]. - Oxbridge aims to expand institutional access to tokenized reinsurance, which is characterized as a high-yield asset class that is uncorrelated with global capital markets [1][3]. Group 2: Event Details - The Abu Dhabi Finance Week (ADFW) will feature over $62 trillion in assets under management, focusing on AI-driven innovation and blockchain adoption [4]. - The Global Blockchain Show is expected to attract over 5,000 attendees and 200 speakers, providing direct access to sovereign wealth funds and institutional decision-makers [5]. - Solana Breakpoint 2025 will gather founders and institutions from over 100 countries, emphasizing revenue and real-world adoption of tokenized RWAs [6]. Group 3: Performance Metrics - The EtaCat Re is projected to outperform its 20% targeted return, currently tracking approximately 25% [9]. - The ZetaCat Re is on track to achieve its 42% targeted return [9]. Group 4: Company Overview - Oxbridge Re Holdings Limited is headquartered in the Cayman Islands and specializes in offering tokenized Real-World Assets (RWAs) as reinsurance securities [7]. - The company has developed the first "on-chain" reinsurance RWA, democratizing access to reinsurance as an alternative investment for both U.S. and non-U.S. investors [10].

Core Viewpoint - Greenpro Capital Corp. is a financial services company operating primarily in the Asia-Pacific region, involved in sectors such as real estate, technology, and finance, with competitors including Farmmi, Inc. and Oxbridge Re Holdings Limited [1] Financial Performance - Greenpro's Return on Invested Capital (ROIC) is -24.25%, significantly lower than its Weighted Average Cost of Capital (WACC) of 11.52%, indicating inefficiencies in capital utilization [2] - Farmmi, Inc. has a slightly better ROIC of -0.44% and a WACC of 11.51%, suggesting it is closer to breaking even compared to its peers [3] - Oxbridge Re Holdings Limited shows a negative ROIC of -40.06% with a WACC of 13.44%, indicating it is also not generating sufficient returns to cover its cost of capital [4] - Overall, all companies analyzed are operating below their cost of capital, with Farmmi, Inc. appearing to be the closest to achieving a positive return relative to its cost of capital [4]

Core Viewpoint - Oxbridge is conducting its Third Quarter 2025 Earnings Call, indicating a focus on financial performance and strategic direction for the upcoming period [1]. Group 1 - The call is hosted by key executives including the Chairman, President, and CEO, Jay Madhu, and the CFO, Wrendon Timothy, highlighting the importance of leadership in communicating financial results [1]. - The earnings call will be available for replay until November 20, 2025, suggesting a commitment to transparency and accessibility for stakeholders [2]. - Wrendon Timothy will address forward-looking statements, indicating that the company is preparing to discuss future expectations and potential risks associated with its financial outlook [2].

Financial Data and Key Metrics Changes - Net premiums earned for Q3 2025 decreased to $555,000 from $595,000 in Q3 2024 due to lower-weighted average rates on reinsurance contracts [7] - Total revenue for Q3 2025 amounted to $645,000, a significant increase from $205,000 in the prior year's third quarter [8] - Net income for Q3 2025 was $187,000 or $0.02 per share, compared to a net loss of $540,000 or $0.09 per share in Q3 2024 [10] - Total expenses for Q3 2025 increased to $815,000 from $490,000 in Q3 2024, primarily due to increased professional costs and legal expenditures [9] Business Line Data and Key Metrics Changes - The loss ratio remained consistent at 0% for Q3 2025, while it increased to 132.4% for the nine-month period ended September 30, 2025, due to a full-limit loss on a reinsurance contract affected by Hurricane Milton [11][12] - The acquisition cost ratio remained consistent at 11% for both the quarter and nine-month periods ended September 30, 2025 [12] Market Data and Key Metrics Changes - Cash and cash equivalents increased by $1.28 million to $7.18 million from $5.9 million at the end of 2024, driven by premium deposits and a registered direct offering [13] Company Strategy and Development Direction - The company is focused on selective, data-driven underwriting to achieve long-term growth and book value per share [4] - AssurancePlus, the company's Web3 subsidiary, aims to democratize tokenized real-world assets and broaden investor access [5] - The company is evaluating a move towards regular dividend payouts for its security-backed tokens, aligning with current market demand [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the long-term outlook of the core reinsurance business and the integration of AssurancePlus into the RWA market [6] - The company is focused on maintaining underwriting quality, scaling compliant distribution channels, and advancing product enhancements [15] Other Important Information - The investment portfolio increased to $115,000 at September 30, 2025, from $113,000 at the prior year-end [13] - The company emphasizes transparency and alignment in its operations, writing fully collateralized contracts without leverage [14] Q&A Session Summary - There were no questions during the Q&A session, indicating a lack of immediate inquiries from participants [17]

Core Insights - Oxbridge Re Holdings Limited reported its financial results for the three and nine months ended September 30, 2025, highlighting its leadership in digitizing reinsurance securities as tokenized real-world assets [1] Financial Performance - For the quarter ended September 30, 2025, net premiums earned decreased to $555,000 from $595,000 for the same quarter in 2024, attributed to a lower weighted average rate on reinsurance contracts [6] - For the nine-month period ended September 30, 2025, net premiums earned increased to $1.73 million from $1.71 million for the same period in 2024, due to a higher weighted average rate on reinsurance contracts [7] - The net loss for the quarter ended September 30, 2025, was $187,000, or ($0.02) per share, compared to a net loss of $540,000, or ($0.09) per share, for the same quarter in 2024 [8] - The net loss for the nine-month period ending September 30, 2025, was $2.19 million, or ($0.30) per share, compared to a net loss of $2.27 million, or ($0.37) per share, for the same period in 2024 [9] - Total expenses for the quarter ended September 30, 2025, increased to $815,000 from $498,000 for the same quarter in 2024, primarily due to increased professional costs [10] - Total expenses for the nine-month period ending September 30, 2025, rose to $4.99 million from $1.67 million for the same period in 2024, driven by increased professional costs and other operational expenses [11][12] Tokenized Reinsurance Performance - SurancePlus's Balanced Yield Token (EtaCat Re) is tracking approximately 25%, exceeding its target of 20%, while the High Yield Token (ZetaCat Re) remains on track to meet its 42% target [2][5] - The performance reflects a disciplined underwriting approach and demonstrates the potential for tokenized reinsurance to deliver consistent, uncorrelated returns within the $750 billion total addressable market [2] Financial Ratios - The loss ratio remained consistent at 0% for the three-month period ended September 30, 2025, but increased to 132.4% for the nine-month period, due to a full limit loss on a reinsurance contract affected by Hurricane Milton [14] - The acquisition cost ratio remained stable at 11.0% for both the quarter and nine-month periods ending September 30, 2025 [15] - The expense ratio increased to 146.8% for the three-month period and 156.2% for the nine-month period ending September 30, 2025, reflecting higher operational costs [16] - The combined ratio increased to 146.8% for the three-month period and 288.6% for the nine-month period ending September 30, 2025, indicating a decline in underwriting performance [17] Future Outlook - The company is considering introducing regular dividend payouts on its security-backed CatRe tokens, moving away from a purely annual payout model [4]

Premiums and Revenue - For the quarter ended September 30, 2025, net premiums earned decreased to $555,000 from $595,000 for the same quarter in 2024, reflecting a decrease in the weighted average rate on reinsurance contracts[6] - For the nine-month period ended September 30, 2025, net premiums earned increased to $1.73 million from $1.71 million for the same period in 2024, attributed to a higher weighted average rate on reinsurance contracts[7] - Total revenue for the three months ended September 30, 2025, was $645 million, a significant increase from $205 million in the same period of 2024[27] - Net investment and other income rose to $79 million in Q3 2025, compared to $62 million in Q3 2024[27] Losses - The net loss for the quarter ended September 30, 2025, was $187,000, or ($0.02) per share, compared to a net loss of $540,000, or ($0.09) per share, for the same quarter in 2024[8] - The net loss for the nine-month period ending September 30, 2025, was $2.19 million, or ($0.30) per share, compared to a net loss of $2.27 million, or ($0.37) per share, for the same period in 2024[9] - The loss ratio for the nine-month period ended September 30, 2025, increased to 132.4% compared to the prior period, due to a full limit loss on a reinsurance contract affected by Hurricane Milton[13] - The loss ratio for the nine months ended September 30, 2024, was 132.4%, indicating a significant increase in losses relative to net premiums earned[27] Expenses - Total expenses for the quarter ended September 30, 2025, increased to $815,000 from $498,000 for the same quarter in 2024, primarily due to increased professional costs[10] - Total expenses for the nine-month period ending September 30, 2025, rose to $4.99 million from $1.67 million for the same period in 2024, driven by increased professional costs and the recording of a full limit loss on a reinsurance contract[11] - Total expenses increased to $815 million in Q3 2025, up from $498 million in Q3 2024[27] - General and administrative expenses surged to $754 million in Q3 2025, compared to $432 million in Q3 2024[27] Ratios - The expense ratio for the three-month period ending September 30, 2025, increased to 146.8% from 83.7% for the same period in 2024, reflecting higher operational costs[15] - The combined ratio for the nine-month period ending September 30, 2025, increased to 288.6% from 98% for the same period in 2024, indicating a significant rise in expenses and losses[16] - The combined ratio for the nine months ended September 30, 2024, was 288.6%, reflecting high expense levels relative to earned premiums[27] Shareholder Information - The net loss attributable to ordinary shareholders for the three months ended September 30, 2025, was $187 million, compared to a loss of $540 million in the same period of 2024[27] - Basic and diluted loss per share attributable to shareholders for Q3 2025 was $(0.02), an improvement from $(0.09) in Q3 2024[27] Reserves - The change in unearned premiums reserve showed a positive adjustment of $555 million in Q3 2025, compared to a negative adjustment of $(490) million in the same period of 2024[27] Cash and Cash Equivalents - As of September 30, 2025, 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[12]

Fundraising Activities - The company raised $2,447,760 from the issuance of 244,776 DeltaCat Re Tokens, with approximately $1,280,000 from third-party investors and $1,167,000 from Oxbridge Re Holdings Limited[154]. - The company completed a private placement on July 31, 2025, raising $3,611,910 from the issuance of 361,191 Participation Shares represented by digital tokens[159]. - The company has sold 287,915 ordinary shares under the ATM program for gross proceeds of $900,531 at an average price of $3.13 per share[165]. - The company entered into a new offering agreement on July 9, 2025, allowing for the sale of up to $5 million of ordinary shares[162]. Financial Performance - Net premiums earned for the quarter ended September 30, 2025 decreased to $555,000 from $595,000 for the same period in 2024, attributed to lower average rates on reinsurance contracts[186]. - Net premiums earned for the nine-month period ended September 30, 2025 increased to $1.73 million from $1.71 million for the same period in 2024, due to higher average rates on reinsurance contracts[187]. - Total revenue for the quarter ended September 30, 2025 was $645,000, compared to $205,000 for the same period in 2024[184]. - Total expenses for the nine-month period ended September 30, 2025 were $4.99 million, compared to $1.67 million for the same period in 2024[184]. - The net loss for the nine-month period ended September 30, 2025 was $2.19 million, or ($0.30) per share, compared to a net loss of $2.27 million, or ($0.37) per share, for the same period in 2024[185]. Losses and Expenses - The company recognized a full limit loss of $2.3 million from Hurricane Milton during the nine-month period ended September 30, 2025, impacting equity by $1.18 million after accounting for external tokenholders[188]. - General and administrative expenses for the quarter ended September 30, 2025 increased to $754,000 from $432,000 for the same period in 2024, primarily due to increased professional costs[192]. - General and administrative expenses for the nine-month period ended September 30, 2025 rose to $2.52 million from $1.49 million for the same period in 2024, driven by higher professional costs[193]. - The loss ratio for the nine-month period ended September 30, 2025 increased to 132.4%, compared to 0% in the prior period, due to losses from Hurricane Milton[196]. - The combined ratio for the nine-month period ended September 30, 2025 increased to 288.6% from 98% in the prior period, reflecting higher expenses and losses incurred[199]. Assets and Cash Flow - As of September 30, 2025, restricted cash and cash equivalents increased by $1.28 million or 21.7%, totaling $7.18 million compared to $5.9 million as of December 31, 2024[200]. - Total investments rose by $2,000 or 1.77%, reaching $115,000 from $113,000 as of December 31, 2024, primarily due to an increase in the value of equity securities[201]. - Unearned premiums reserve increased by $490,000 to $1.48 million from $991,000 at December 31, 2024, attributed to new reinsurance contracts for the 2025-2026 treaty year[203]. - Net cash used in operating activities for the nine months ended September 30, 2025, totaled $1,781,000, while net cash provided by financing activities was $3,001,000 from share issuance[210]. - The net impact of Hurricane Milton's loss on the company's equity was $1.18 million after accounting for losses borne by external tokenholders[223]. Operational Strategy - The company focuses on fully collateralized reinsurance contracts primarily for property catastrophes in the Gulf Coast region of the United States[146]. - The company aims to achieve long-term growth in book value per share by writing business that generates attractive underwriting profits relative to the risk[148]. - The company has initiated the development of tokenized reinsurance securities, with plans to issue additional series following the DeltaCat Re Token[147]. - Cash flows from operations are expected to meet liquidity requirements in the short term, with no plans to issue debt for the foreseeable future[207]. - The company has no off-balance sheet arrangements as of September 30, 2025[212]. - Each subsidiary exceeded the minimum net worth requirement of $500 as of September 30, 2025, allowing for potential dividend payments[208]. - The company’s investment portfolio is primarily comprised of cash and highly liquid securities, ensuring sufficient liquidity to meet current liabilities[206]. Seasonal Influences - The company’s operational results may be seasonal, influenced by the timing of hurricanes and tropical storms from June 1 to November 30[149]. - Amounts due to CatRe tokenholders decreased to $1.2 million from $1.73 million at December 31, 2024, due to shared losses from a reinsurance contract affected by Hurricane Milton[202]. - The company maintains a competitive position due to its low overhead expenses and expense efficiency compared to larger competitors[151].