OXRE(OXBR) - 2024 Q4 - Annual Results

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].