Company Overview - Oxbridge Re Holdings Limited (NASDAQ: OXBR) is engaged in the business of tokenized Real-World Assets (RWAs), specifically in tokenized reinsurance securities and reinsurance business solutions for property and casualty insurers [1][3]. - The company is headquartered in the Cayman Islands and operates through subsidiaries including SurancePlus Inc, Oxbridge Re NS, and Oxbridge Reinsurance Limited [3]. Upcoming Events - The company plans to hold a conference call on May 12, 2025, at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ending March 31, 2025 [1]. - Financial results will be released in a press release after the market closes on the same day [1]. Subsidiary Developments - SurancePlus Inc., a Web3-focused subsidiary, has developed the first "on-chain" reinsurance RWA, which is sponsored by a subsidiary of a publicly traded company [5]. - This innovation allows for the digitization of interests in reinsurance contracts as on-chain RWAs, making reinsurance more accessible as an alternative investment for both U.S. and non-U.S. investors [5]. Market Operations - Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS [4].

Core Insights - Oxbridge Re Holdings Limited, along with its subsidiary SurancePlus, is focused on the tokenization of Real-World Assets (RWAs), specifically in the area of tokenized reinsurance securities and providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States [1][5] - The company’s CEO, Jay Madhu, will participate in a panel discussion at THE GREAT GATHER during TOKEN2049 Dubai, highlighting the democratization of reinsurance and the expansion of access to high-yield, uncorrelated investment opportunities through Web3 innovation [3][2] Company Overview - Oxbridge Re Holdings Limited is headquartered in the Cayman Islands and operates through subsidiaries including SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited, offering tokenized RWAs and reinsurance business solutions [5] - SurancePlus has developed the first "on-chain" reinsurance RWA, allowing both U.S. and non-U.S. investors to access reinsurance as an alternative investment [9] Investment Opportunities - The company offers two tokenized reinsurance securities: EtaCat Re with a targeted annual return of 20% and ZetaCat Re with a targeted annual return of 42% [7] - Investors can directly participate in SurancePlus offerings and are encouraged to connect with the team during events like THE GREAT GATHER [3]

Core Insights - Oxbridge Re Holdings Limited, through its subsidiary SurancePlus, is focused on the tokenization of Real-World Assets (RWAs), specifically in the reinsurance sector, targeting property and casualty insurers in the Gulf Coast region of the United States [1][7][8] - The company is participating in significant industry events, including the Tokenized Capital Summit 2025 and THE GREAT GATHER, where its CEO will discuss the democratization of access to high-yield reinsurance contracts via tokenized securities [2][3] Company Overview - Oxbridge Re Holdings Limited is headquartered in the Cayman Islands and operates through subsidiaries such as SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited, providing tokenized reinsurance securities and solutions [7] - SurancePlus has developed the first "on-chain" reinsurance RWA, making reinsurance more accessible as an alternative investment for both U.S. and international investors [9] Investment Opportunities - SurancePlus offers investment opportunities with targeted annual returns of 20% for EtaCat Re and 42% for ZetaCat Re, appealing to investors seeking high-yield options [5] - Investors can engage directly with SurancePlus offerings and are encouraged to connect with the team during industry events [4]

Core Viewpoint - Oxbridge Re Holdings Limited is actively participating in the tokenization of Real-World Assets, specifically focusing on tokenized reinsurance securities, and is set to showcase its offerings at TOKEN2049 Dubai, a major blockchain event [1][4]. Group 1: Company Overview - Oxbridge Re Holdings Limited, headquartered in the Cayman Islands, specializes in tokenized Real-World Assets and provides reinsurance solutions to property and casualty insurers [6]. - The company operates through its subsidiaries, including SurancePlus Inc., which focuses on blockchain-based reinsurance solutions [6][8]. Group 2: Event Participation - Oxbridge Re and SurancePlus will participate in TOKEN2049 Dubai, which is expected to attract over 15,000 attendees from more than 160 countries [2]. - The event will feature keynotes, panels, and networking opportunities, allowing Oxbridge to engage with stakeholders in the digital asset ecosystem [2][4]. Group 3: Product Offerings - The company offers SEC-compliant tokenized reinsurance securities, which are currently listed on the Securitize platform and utilize the Avalanche blockchain for regulatory alignment and investor transparency [3]. - Qualified investors can access two high-yield investment opportunities: EtaCat Re with a targeted annual return of 20% and ZetaCat Re with a targeted annual return of 42% [8].

Group 1 - Oxbridge Re Holdings Limited, along with its subsidiary SurancePlus, is focused on the tokenization of Real-World Assets (RWAs), starting with tokenized reinsurance securities and providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States [1][7] - The company is participating in Apex Invest 2025, an investment event that gathers over 200 allocators and 100 fund managers from more than 25 countries, facilitating networking and discussions on investment opportunities [2][4] - Oxbridge and SurancePlus will showcase how they provide access to high-yield investment opportunities through the tokenization of reinsurance contracts on the blockchain, democratizing access to a market previously limited to select investors [3][9] Group 2 - Investors can engage with SurancePlus offerings, with capital deployment into reinsurance contracts starting June 1, 2025, featuring two tokenized reinsurance investment options with distinct risk-return profiles: EtaCat Re targeting a 20% annual return and ZetaCat Re targeting a 42% annual return [4][8] - The company emphasizes the importance of the Apex Invest 2025 summit for fostering valuable connections with global allocators, family offices, and institutional investors, highlighting their SEC-compliant, blockchain-based securities [4][5]

Financial Data and Key Metrics Changes - For the three months ended December 31, 2024, net premiums increased to $595,000 from $523,000 in the prior year period, representing a growth of approximately 13.8% [14] - For the year ended December 31, 2024, net premiums rose by $2.3 million to $1.25 million, reflecting a 2.3% increase [14] - Total revenues for the fiscal year ended December 31, 2024, were $546,000 compared to a negative $7 million in the prior year, indicating a significant turnaround [16] - The company reported a net loss of $460,000 or $0.05 per share for Q4 2024, an improvement from a net loss of $2.67 million or $0.46 per share in Q4 2023 [17] - For the year ended December 31, 2024, the net loss was $2.7 million or $0.45 per share, down from a net loss of $9.9 million or $1.69 per share in the prior year [17] Business Line Data and Key Metrics Changes - The loss ratio remained consistent at 0% for both the year ended December 31, 2024, and 2023, indicating stable underwriting performance [19] - The acquisition cost ratio decreased marginally to 11.1% for Q4 2024 from 11.7% in Q4 2023, reflecting improved operational efficiency [20] - The expense ratio decreased significantly from 102.3% in Q4 2023 to 83% in Q4 2024, and from 185.2% for the year ended December 31, 2023, to 94.3% for fiscal 2024, due to higher premiums earned and lower general admin expenses [21] Market Data and Key Metrics Changes - The company is focusing on the RWA and Web3 sectors, aiming to position itself as a prominent player in these markets [12] - The anticipated growth in the RWA tokenization ecosystem is projected to exceed $10 trillion over the next decade, driven by increasing adoption of tokenized assets [34] Company Strategy and Development Direction - The company aims for long-term growth and book value per share by selectively writing business that generates attractive underwriting profits [10] - The establishment of SurancePlus Inc. reflects the company's strategy to diversify into RWA Web3 technology, democratizing access to reinsurance through tokenized securities [11] - A strategic review process has been initiated to explore various strategic alternatives for the company and its Web3 subsidiary, including potential mergers or divestitures [28] 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 SurancePlus [13] - The company is committed to innovation and diversification, particularly in blockchain-based assets, which are gaining global adoption [29] - Management highlighted the potential for substantial growth in the RWA space, with a focus on enhancing investor access to digital securities [31] Other Important Information - The investment portfolio decreased to $113,000 at December 31, 2024, from $680,000 at the prior year end, primarily due to the sale of equity securities [21] - Cash and cash equivalents increased to $5.9 million at December 31, 2024, from $3.8 million in the prior period, attributed to new collateral deposits [22] - The company completed a reverse direct offering, raising gross proceeds of $3 million subsequent to year-end [23] Q&A Session Summary Question: What are the underwriting risk management efforts that have resulted in no losses incurred in the last couple of quarters? - Management explained that they review contracts internally and also consider follow-on reinsurers to ensure contracts are adequately priced, which has led to successful underwriting [42][44] Question: What is the timeframe for the 2025/2026 tokenization offerings? - Management indicated that they are actively looking to grow the opportunity and expect to have funds live on June 1 for reinsurance contracts [46][48] Question: How does raising third-party money through tokenizations affect the company's risk profile? - Management confirmed that including third-party funds lowers the risk profile while still allowing the company to earn management fees [50][52] Question: Can you comment on the Florida P&C insurance market? - Management noted that a significant portion of insurance premiums goes to reinsurance, and while the market may improve slightly, the company is well-positioned to capitalize on opportunities in this space [55][59] Question: How have presentations to various groups been received? - Management reported that presentations have been well received, particularly at family office conferences, indicating strong interest in their offerings [82][84]

Financial Performance - For the year ended December 31, 2024, net premiums earned increased to $2,303,000 from $1,255,000 in the prior year, representing an 83.3% growth [4]. - The company reported a net loss of $2.7 million or $0.45 per share for the year ended December 31, 2024, a significant improvement from a net loss of $9.9 million or $1.69 per share in the prior year [5]. - Total expenses for the year ended December 31, 2024, were $2.1 million, down from $2.3 million in the prior year, reflecting operational efficiencies [6]. - The expense ratio improved to 94.3% for the year ended December 31, 2024, down from 185.2% in the prior year, due to higher premium levels and lower administrative expenses [10]. - The combined ratio decreased to 94.3% for the year ended December 31, 2024, from 185.2% in the prior year, indicating improved underwriting performance [11]. Cash and Investments - The cash and cash equivalents increased to $5.8 million at December 31, 2024, compared to $3.7 million at December 31, 2023, primarily due to new collateral deposits [7]. - The company completed a reverse direct offering raising gross proceeds of $3 million subsequent to the year-end [8]. Strategic Initiatives - SurancePlus launched its 2025–2026 tokenized reinsurance offerings, targeting a 20% annual return for balanced-yield securities and a 42% annual return for high-yield offerings [3]. - SurancePlus has formed a strategic partnership with Plume, a blockchain platform with over $4.5 billion in assets, to expand distribution for tokenized reinsurance offerings [3]. - The RWA tokenization market is projected to reach as much as $30 trillion by 2030, positioning SurancePlus to capitalize on significant growth opportunities [3].

Tokenization and Securities - In 2023, the company launched its first tokenized reinsurance security, the DeltaCat Re Token, representing fractionalized interests in reinsurance contracts, with a total issuance of 244,776 tokens raising approximately $2.45 million[17][26]. - The company plans to issue additional tokenized reinsurance securities, including EpsilonCat Re, ZetaCat Re, and EtaCat Re, with the initial price set at $10.00 per token[28][31]. - The company raised $2.88 million in a private placement for Participation Shares represented by digital tokens, with approximately $1.47 million from third-party investors[31]. - SurancePlus has launched the Cat Re token series, with the DeltaCat Re token issued in 2023 on the Avalanche blockchain network[82]. - The 2024/25 offering of EpsilonCat Re tokens was announced on March 18, 2024, and the 2025/26 offerings of ZetaCat Re and EtaCat Re were announced on February 27, 2025[82]. - The tokenization business is at an early stage, and its success is uncertain, with potential fluctuations in operational results[95]. Business Strategy and Growth - The company aims to achieve long-term growth in book value per share by focusing on fully collateralized reinsurance contracts for property catastrophes, primarily in the Gulf Coast region of the United States[18]. - The company has a disciplined underwriting approach to select a diversified portfolio of risks, aiming for attractive risk-adjusted returns for shareholders[37]. - The company intends to leverage its tokenization experience to develop Web3-focused business offerings and products related to the tokenization of real-world assets[43]. - The company intends to build relationships with global reinsurance brokers to access a broad range of reinsurance clients and opportunities[65]. - Oxbridge Re expects SurancePlus to become a significant revenue stream, potentially reducing annual capital deployed into collateralizing reinsurance contracts[83]. Risk Management and Financial Health - The profitability of the reinsurance business is influenced by the adequacy of premiums and investment income covering costs, which include acquisition costs and claim payments[19]. - The company maintains a commitment to risk management, ensuring all reinsurance contracts contain loss limitation provisions[37]. - The company's contracts are fully collateralized, limiting liability to the value of the assets held in trust[59]. - Loss reserves are established based on loss payments and case reserves reported by ceding companies, with estimates reviewed quarterly by an independent actuary[72][77]. - The company is subject to regulation by the Cayman Islands Monetary Authority (CIMA) and must comply with capital and surplus requirements[87]. - Oxbridge Reinsurance Limited and Oxbridge Re NS are required to maintain a statutory minimum capital requirement of $500 and a prescribed capital requirement of $500[88]. - The company may face risks related to credit defaults from counterparties and operational risks inherent in its business[96]. Market Environment - Florida's property and casualty insurance market has approximately $2.18 trillion in insured residential property exposure[51]. - In 2024, Hurricanes Helene and Milton caused estimated insured losses exceeding $55 billion[51]. - The reinsurance industry is highly competitive, with major competitors including Renaissance Re and Berkshire Hathaway[78]. - The RWA asset tokenization market is projected to reach $16.1 trillion by 2030, representing a significant growth opportunity for the company[81]. Operational Insights - The company’s operational results may be seasonal, with significant variations due to factors affecting the property and casualty insurance industry[20][21]. - The company primarily writes property catastrophe reinsurance, expecting to continue with treaty reinsurance contracts in the foreseeable future[53]. - The company's portfolio is characterized by relatively large transactions with a small number of cedants, anticipating this trend to continue[55]. - As of March 26, 2025, the company had three full-time employees and plans to outsource some functions as necessary[84]. - The company is not currently involved in any litigation or arbitration, but anticipates facing such challenges in the ordinary course of business[85]. - The company does not intend to resume paying cash dividends in the foreseeable future[96].

Core Insights - Oxbridge Re Holdings Limited is engaged in tokenized Real-World Assets (RWAs) and has reported financial results for the year ended December 31, 2024, highlighting growth in net premiums earned and a strategic focus on expanding its subsidiary SurancePlus in the RWA sector [1][2][3]. Financial Performance - For Q4 2024, net premiums earned were $595,000, up from $523,000 in Q4 2023, while for the full year, net premiums earned increased to $2,303,000 from $1,255,000, attributed to higher contract rates and a full year of premium recognition [3]. - The company reported a net loss of $460,000 or $0.05 per share for Q4 2024, a significant improvement from a net loss of $2.67 million or $0.46 per share in Q4 2023. For the full year, the net loss was $2.7 million or $0.45 per share, down from $9.9 million or $1.69 per share in the previous year [4]. - Total expenses for Q4 2024 were $497,000, compared to $535,000 in Q4 2023, while for the year, total expenses were $2.1 million, down from $2.3 million in the prior year [5]. Financial Ratios - The loss ratio remained consistent at 0% for both 2024 and 2023, indicating stable underwriting profitability [8]. - The acquisition cost ratio slightly decreased to 11.0% in 2024 from 11.2% in 2023, reflecting improved operational efficiency [8]. - The expense ratio significantly improved to 94.3% in 2024 from 185.2% in 2023, driven by higher premium earnings and lower administrative expenses [9][10]. Strategic Initiatives - SurancePlus has launched new tokenized reinsurance offerings for 2025-2026, targeting a 20% annual return for balanced-yield securities and a 42% annual return for high-yield offerings, aimed at attracting a broader investor base [2]. - The company completed a reverse direct offering raising gross proceeds of $3 million, reinforcing its capital position while pursuing growth opportunities [2][7]. - A strategic partnership with Plume, a blockchain platform managing over $4.5 billion in assets, was announced to enhance distribution for tokenized reinsurance offerings [2].

Core Insights - Oxbridge Re Holdings Limited, through its subsidiary SurancePlus, is focused on the tokenization of Real-World Assets (RWAs), specifically in the reinsurance sector, targeting property and casualty insurers in the Gulf Coast region of the United States [1][6] - The CEO, Jay Madhu, will participate in the Uncorrelated Puerto Rico summit, which aims to connect investors with high-return, alternative investment opportunities [2][3] Company Overview - Oxbridge Re Holdings Limited is headquartered in the Cayman Islands and operates through subsidiaries including SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited [6] - The company offers tokenized reinsurance securities and business solutions to property and casualty insurers [6] Investment Opportunities - SurancePlus has introduced two distinct tokenized reinsurance offerings: EtaCat Re with a 20% annual targeted return and ZetaCat Re with a 42% annual targeted return [7][8] - The tokenization process allows investors to select their preferred risk-return profile, democratizing access to a traditionally exclusive asset class [3][8] Event Participation - The Uncorrelated Puerto Rico summit is expected to host over 300 limited partners, fund managers, allocators, and startup leaders, focusing on emerging markets and direct investment opportunities [2] - Jay Madhu will discuss SurancePlus' innovative approach to tokenizing reinsurance contracts, highlighting the potential for uncorrelated, high-yield investment opportunities [2][3]