Oxbridge Re Holdings Limited Reports Fiscal 2024 Results

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].