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

Rhea-AI Summary

Oxbridge Re (NASDAQ: OXBR) reported Q1 2026 results and highlighted SurancePlus platform growth. Net premiums earned were $555,000 and net income was $22,000, versus a $139,000 loss a year earlier.

Total expenses rose to $583,000, the combined ratio increased to 105%, and restricted cash grew to $8.19 million. SurancePlus tokens are expected to return 25% and 42%, and management is exploring tokenized data center and AI infrastructure revenues.

Positive

• Net income of $22,000 versus prior-year net loss of $139,000
• Restricted cash and cash equivalents increased to $8.19 million from $6.98 million
• SurancePlus Balanced Yield Token now anticipated to return 25% versus 20% target
• High Yield Token remains on track to achieve 42% annual return target
• Loss ratio remained at 0% for Q1 2026

Negative

• Net premiums earned declined to $555,000 from $595,000 year over year
• Total expenses increased to $583,000 from $570,000, driven by higher professional costs
• Expense ratio rose to 105% from 95.8%, pressuring underwriting efficiency
• Combined ratio increased to 105%, above the 100% break-even level
• Increase in restricted cash partly driven by $1 million loan payable proceeds

News Market Reaction – OXBR

-9.76% 23.4x vol

27 alerts

-9.76% News Effect

+26.7% Peak Tracked

-27.7% Trough Tracked

-$902K Valuation Impact

$8.34M Market Cap

23.4x Rel. Volume

On the day this news was published, OXBR declined 9.76%, reflecting a notable negative market reaction. Argus tracked a peak move of +26.7% during that session. Argus tracked a trough of -27.7% from its starting point during tracking. Our momentum scanner triggered 27 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $902K from the company's valuation, bringing the market cap to $8.34M at that time. Trading volume was exceptionally heavy at 23.4x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -9.8% in the session following this news. A negative reaction despite improving Q1 2...

Analysis

The stock moved -9.8% in the session following this news. A negative reaction despite improving Q1 2026 profitability would fit a pattern where investors focus on costs and execution risk. While net income of $22,000 marks a turnaround from the prior $139,000 loss and cash and restricted cash reached $8.19M, the expense and combined ratios at 105% highlight efficiency challenges. Earlier platform-expansion news drove moves up to 36.04%, so disappointment around growth pacing or margins could weigh on sentiment.

Key Figures

Net premiums earned: $555,000 Net income: $22,000 EPS: $0.00 +5 more

8 metrics

Net premiums earned $555,000 Three months ended March 31, 2026 vs $595,000 prior-year quarter

Net income $22,000 Q1 2026 vs net loss $139,000 in Q1 2025

EPS $0.00 Basic and diluted income per share vs ($0.02) prior-year quarter

Total expenses $583,000 Three months ended March 31, 2026 vs $570,000 in Q1 2025

Cash and restricted cash $8.19M Balance as of March 31, 2026

Restricted cash increase $1.21M Increase vs $6.98M as of December 31, 2025

Expense ratio 105% Three months ended March 31, 2026 vs 95.8% prior-year period

Combined ratio 105% Three months ended March 31, 2026 vs 95.8% prior-year period

Historical Context

5 past events · Latest: May 04 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 04	Earnings call notice	Neutral	+1.6%	Announced timing and access details for upcoming Q1 2026 results call.
Mar 30	Earnings and platform	Positive	+36.0%	Reported Q4/full-year 2025 with strong token performance and cash position.
Mar 20	Earnings call notice	Neutral	-2.7%	Announced date and logistics for Q4 and full-year 2025 results call.
Mar 12	Distribution expansion	Positive	+3.7%	Expanded T20/T42 token distribution across 160+ chains via LayerZero, Alphaledger.
Mar 12	Distribution expansion	Positive	+3.7%	Detailed broader access to collateralized catastrophe tokens via Alphaledger, LayerZero.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Results and platform-expansion releases have often coincided with positive one-day moves, while routine call announcements show smaller, mixed reactions.

Recent Company History

Over the last few months, Oxbridge has repeatedly highlighted SurancePlus token performance and expansion. A March 30 release on Q4/full-year 2025 and reinsurance token growth saw a 36.04% move, while March 12 LayerZero/Alphaledger distribution news coincided with a 3.74% gain. By contrast, simple conference-call notices on March 20 and May 4 produced modest, mixed reactions. Today’s Q1 2026 update extends the same themes of token performance, network reach, and growing restricted cash, tying directly into that earlier trajectory.

Key Terms

tokenized real-world assets, blockchain, underwriting cycle, loss ratio, +4 more

8 terms

tokenized real-world assets technical

"a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs)"

Tokenized real-world assets are physical or financial items — such as real estate, bonds, art, or commodities — represented by digital tokens on a secure online ledger, enabling ownership to be divided into small, tradable pieces. For investors this can mean easier buying and selling, lower minimum investments and faster settlement, but it also introduces technology, market and legal risks, so it's like turning a house into many tradeable shares with new rules and costs to consider.

blockchain technical

"advancing its blockchain infrastructure, interoperability, and market presence"

A blockchain is a digital record-keeping system that securely stores information across many computers, making it difficult to alter or tamper with. Think of it like a shared, unchangeable ledger that everyone can see and verify, ensuring transparency and trust. For investors, this technology offers a way to securely track transactions and assets without relying on a central authority, potentially reducing costs and increasing security.

View in glossary

underwriting cycle technical

"prepares for the upcoming 2026–2027 underwriting cycle and its planned T20 and T42"

Underwriting cycle is the recurring pattern where firms that guarantee loans, insurance, or securities move between periods of aggressive, low-cost deal-making and periods of cautious, high-cost pricing as losses and competition rise or fall. Think of it like ocean tides: when firms are confident they flood the market with cheap supply, and when losses mount they retreat and charge more. Investors care because these swings change how easy and expensive it is for companies to raise capital, which affects valuations, risk levels, and market timing.

loss ratio financial

"Loss Ratio. The loss ratio is the ratio of losses and loss adjustment expenses"

Loss ratio is the percentage of an insurer’s collected premiums that is paid out to cover claims and related costs, showing how much of customer payments are used to settle losses. Investors treat it like a fuel-efficiency gauge for an insurance business—lower loss ratios suggest pricing and risk selection leave more room for profit, while consistently high ratios signal weak pricing, rising claims, or not enough money set aside, which can hurt returns.

acquisition cost ratio financial

"Acquisition Cost Ratio. The acquisition cost ratio is the ratio of policy acquisition costs"

Acquisition cost ratio measures how much a company spends to gain a new customer or user compared with the value that customer brings (often measured as revenue or expected lifetime value). Investors use it to judge whether growth is affordable and scalable — like checking if the cost of catching a fish is worth the fish’s market value — because a high ratio can signal that growth will erode profits while a low ratio suggests efficient, profitable customer wins.

expense ratio financial

"Expense Ratio. The expense ratio is the ratio of policy acquisition costs and general"

The expense ratio is the annual fee a mutual fund or exchange-traded fund charges to cover its operating costs, shown as a percentage of the fund’s assets. Think of it like a yearly maintenance or subscription fee that quietly reduces your investment’s returns; even small differences matter over time because the fee compounds against your gains. Investors compare expense ratios to judge how much of their returns will be eaten by fund costs.

View in glossary

combined ratio financial

"Combined ratio. We use the combined ratio to measure our underwriting performance."

The combined ratio is a way insurance companies measure how well they are doing by adding up all their costs and claims and comparing them to the money they earn from premiums. If the ratio is below 100%, it means the company is making a profit; if it's above 100%, they are losing money. It helps see if an insurance company is financially healthy or not.

restricted cash financial

"As of March 31, 2026, the Company reported $8.19 million in cash and restricted cash"

Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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GRAND CAYMAN, Cayman Islands, May 11, 2026 (GLOBE NEWSWIRE) -- 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 underwriting cycle.” 

Financial Performance

Net premiums earned for the three months ended March 31, 2026 decreased to $555,000 from $595,000 for the quarter ended March 31, 2025. The decrease is due to lower weighted average rate on reinsurance contracts in force during the quarter ended March 31, 2026, when compared to the prior period.

Net income for the quarter ended March 31, 2026 was $22,000, or $0 basic and diluted income per share compared to a net loss of $139,000, or ($0.02) basic and diluted loss per share, for the quarter ended March 31, 2025. The decrease in net loss is primarily due to a decreased allocation of underwriting income to tokenholders, as the Company itself is the major contributor toward 2025/26 treaty contracts in place, coupled with a decrease in unrealized loss on other investments during the quarter ended March 31, 2026 when compared with the prior period.

For the three months ended March 31, 2026, total expenses, including policy acquisition costs and general and administrative expenses, increased to $583,000 from $570,000 for the quarter ended March 31, 2025. The increase is primarily due to increased professional costs relating to investor relations and our web3 subsidiary marketing.

As of March 31, 2026, our restricted cash and cash equivalents increased by $1.21 million to $8.19 million, from $6.98 million as of December 31, 2025. The increase is the net result of premium deposits made during the three-months ending March 31, 2026 and the $1 million proceeds from the loan payable.

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 three-month period ended March 31, 2026 when compared with prior comparative period.

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 increased marginally to 11.0% for the quarter ended March 31, 2026 from 10.9% for the quarter ended March 31, 2025.

Expense Ratio. The expense ratio is the ratio of policy acquisition costs and general and administrative expenses to net premiums earned. We use the expense ratio to measure our operating performance. For the three-month period ended March 31, 2026, the expense ratio increased to 105%, from 95.8% for the three-month period ended March 31, 2025. The increase is primarily due to increased professional costs relating to investor relations and our web3 subsidiary marketing and operations.

Combined ratio. We use the combined ratio to measure our underwriting performance. The combined ratio is the sum of the loss ratio and the expense ratio. For the three-month period ended March 31, 2026, the combined ratio increased to 105%, from 95.8% for the three-month period ended March 31, 2025. The increase is primarily due to increased professional costs relating to investor relations and our web3 subsidiary marketing and operations.

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 dialling 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 11, 2026
Time: 4.30 p.m. Eastern time
Toll-free number: 877-524-8416
International number: +1 412-902-1028

Please call the conference telephone number 15 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 InComm Conferencing at +1-201-493-6280
media@incommconferencing.com

A replay of the call will be available by telephone after 4:30 p.m. Eastern time on the same day of the call until May 25, 2026.

Toll-free replay number: 877-660-6853
International replay number: +1-201-612-7415
Conference ID: 13760495

About Oxbridge Re Holdings Limited

Oxbridge Re Holdings Limited (www.OxbridgeRe.com) (NASDAQ: OXBR, OXBRW) (“Oxbridge Re”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries Oxbridge Reinsurance Limited, Oxbridge Re NS, and SurancePlus Inc.

Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

Our new Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 30, 2026. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

Company Contact:

Oxbridge Re Holdings Limited
Jay Madhu, CEO
345-749-7570
jmadhu@oxbridgere.com

OXBRIDGE RE HOLDINGS LIMITED AND SUBSIDIARIES
Consolidated Balance Sheets
(expressed in thousands of U.S. Dollars, except per share and share amounts)

		At March 31, 2026			At December 31, 2025
Assets
Cash and cash equivalents		$	885			268
Restricted cash and cash equivalents			7,303			6,708
Premiums receivable			230			766
Deferred policy acquisition costs			41			102
Operating lease right-of-use assets			89			43
Prepayment and other assets			174			150
Property and equipment, net			15			16
Total assets		$	8,737			8,053
Liabilities and Shareholders’ Equity
Liabilities:
Reserve for losses and loss adjustment expenses			91			91
Notes payable to noteholders			118			118
Unearned premiums reserve			370			926
Losses payable			73			73
Loan payable			1,000			-
Operating lease liabilities			89			43
Accounts payable and other liabilities			381			309
Total liabilities			2,122			1,560
Mezzanine Equity
Due to EpsilonCat Re / DeltaCat Re / EtaCat Re / ZetaCat Re Tokenholders			520			518
Shareholders’ equity:
Ordinary share capital, (par value $0.001, 500,000,000 shares authorized; 7,801,374 and 7,664,122 shares issued and outstanding)			6			6
Additional paid-in capital			38,129			38,047
Accumulated Deficit			(32,115	)		(32,137	)
Total Oxbridge shareholders’ equity			6,020			5,916
Non-controlling interests			75			59
Total shareholders’ equity			6,095			5,975
Total liabilities, mezzanine and shareholders’ equity		$	8,737			8,053

OXBRIDGE RE HOLDINGS LIMITED AND SUBSIDIARIES
Consolidated Statements of Income
(expressed in thousands of U.S. Dollars, except per share and share amounts)

		Three Months Ended March, 31
		2026				2025
Revenue
Net premiums earned			555				595
Net investment and other income			68				79
Unrealized loss on other investments			-				(20		)
Realized gain on other investments			-				35
Change in fair value of equity securities			-				3
Total revenue			623				692
Expenses
Policy acquisition costs and underwriting expenses			61				65
General and administrative expenses			522				505
Total expenses			583				570
Income before income attributable to tokenholders and non-controlling interests			40				122
Income attributable to tokenholders			(2		)		(247		)
Income (loss) before income attributable to non-controlling interests			38				(125		)
Income attributable to non-controlling interests			(16		)		(14		)
Net income (loss) attributable to ordinary shareholders			22				(139		)
Income (loss) per share attributable to shareholders
Basic and Diluted			-				(0.02		)
Weighted-average shares outstanding
Basic and Diluted			7,799,832				6,899,062
Performance ratios to net premiums earned:
Loss ratio			0.0	%			0.0	%
Acquisition cost ratio			11.0	%			10.9	%
Expense ratio			105.0	%			95.8	%
Combined ratio			105.0	%			95.8	%

FAQ

How did Oxbridge Re (NASDAQ: OXBR) perform financially in Q1 2026?

Oxbridge Re reported Q1 2026 net income of $22,000 on net premiums earned of $555,000. According to Oxbridge Re, this compares with a net loss of $139,000 and net premiums of $595,000 for the quarter ended March 31, 2025.

What were Oxbridge Re's key underwriting ratios for Q1 2026?

Oxbridge Re reported a 0% loss ratio and a 105% expense ratio, resulting in a 105% combined ratio for Q1 2026. According to Oxbridge Re, the combined ratio increased from 95.8% in the prior-year quarter due to higher professional and marketing-related costs.

How are Oxbridge Re's SurancePlus tokens performing in 2025–2026?

The SurancePlus Balanced Yield Token is now anticipated to return 25%, and the High Yield Token remains on track for its 42% target. According to Oxbridge Re, these tokenized reinsurance offerings reflect disciplined underwriting and provide uncorrelated returns within the reinsurance market.

What was Oxbridge Re's cash and restricted cash position as of March 31, 2026?

Oxbridge Re reported $8.19 million in cash and restricted cash as of March 31, 2026. According to Oxbridge Re, this rose from $6.98 million at December 31, 2025, primarily due to premium deposits and $1 million of loan payable proceeds.

How did Oxbridge Re's expenses change in Q1 2026 compared with Q1 2025?

Total expenses, including policy acquisition costs and general and administrative expenses, increased to $583,000 in Q1 2026 from $570,000 a year earlier. According to Oxbridge Re, the increase mainly reflects higher professional costs tied to investor relations and web3 subsidiary marketing.

What strategic growth areas is Oxbridge Re targeting beyond reinsurance in 2026?

Oxbridge Re is exploring tokenization of data center revenue streams and AI-aligned infrastructure as new asset categories. According to Oxbridge Re, these initiatives are intended to broaden the SurancePlus model, expand long-term growth opportunities, and support future shareholder value creation.

When is Oxbridge Re's Q1 2026 earnings conference call and how can investors join?

The Q1 2026 earnings conference call is scheduled for May 11, 2026 at 4:30 p.m. Eastern time. According to Oxbridge Re, investors can access the live presentation via the listed toll-free and international numbers or through the webcast link on the company’s investor information website.