Oxbridge Re Hldg - OXBRW STOCK NEWS

Oxbridge Re Holdings reported positive performance in Q1 2023 with no losses incurred. They also announced the creation of their new Web3 subsidiary, SurancePlus, offering an alternative investment opportunity with potential returns of 42% per year. Additionally, Oxbridge Acquisition Corp. entered into a business combination agreement with Jet.AI Inc. Financially, the company generated net income of $142,000 in Q1 2023 compared to a net loss of $387,000 in Q1 2022. Cash and cash equivalents were $3.6 million at the end of March 2023.

Oxbridge Re (NASDAQ: OXBR) plans to hold a conference call on May 12, 2023, at 4:30 p.m. Eastern time to discuss Q1 2023 results. Financial results will be issued in a press release after the market close on the same day. Interested parties can listen to the live presentation by dialing the provided numbers. A replay of the call will be available via telephone and Oxbridge's website until May 26, 2023.

Oxbridge Re Holdings Limited (NASDAQ: OXBR) announced its 2022 fiscal results, revealing a net loss of $1.8 million or ($0.31) per share, compared to a net income of $8.6 million or $1.49 per share in 2021. The decline was primarily driven by unrealized losses from SPAC investments and expenses from Hurricane Ian. Despite these losses, net premiums for 2022 rose to $995,000 from $965,000 in the previous year. The company also launched SurancePlus Inc., aiming to tokenize reinsurance securities using blockchain technology. A capital raise for SurancePlus promises a potential 196% return over three years for investors.

Oxbridge Re Holdings Limited (NASDAQ: OXBR), has launched a tokenized reinsurance security, DeltaCat Re, through its subsidiary SurancePlus Inc.. This token will represent fractionalized interests in reinsurance contracts, with each token linked to preferred shares of SurancePlus. The tokens are available to accredited investors in the US and non-US investors, aiming for returns of up to 196% over three years, assuming no losses. The initiative seeks to democratize reinsurance investments, allowing broader participation in a traditionally exclusive market, while enhancing shareholder value.

Oxbridge Re Holdings Limited (NASDAQ: OXBR) announced a conference call scheduled for March 30, 2023, at 4:30 PM ET to discuss its financial results for the fourth quarter and full year ended December 31, 2022. The earnings report will be released after market close on the same day. Interested parties can join the call via a toll-free number or an international line. A replay will also be available afterward and can be accessed until April 13, 2023. Oxbridge Re specializes in reinsurance solutions primarily in the Gulf Coast region, focusing on high-severity risks.

Oxbridge Re announced a business combination with Jet Token Inc. via Oxbridge Acquisition Corp. (OXAC). The merger will form Jet.AI Inc., expected to finalize in late Q2 2023. Jet Token specializes in fractional aircraft ownership and charter services, leveraging AI for operational efficiency. Oxbridge Re holds significant equity in Oxbridge Acquisition, valued at approximately $14.26 million. This transaction aims to enhance Jet's growth trajectory in AI software development and fleet expansion, creating potential value for Oxbridge shareholders, according to CEO Jay Madhu.

Oxbridge Re Holdings Limited (Nasdaq: OXBR) has announced the formation of a new wholly-owned subsidiary, SurancePlus Inc., incorporated in December 2022 in the British Virgin Islands. This subsidiary will issue tokenized reinsurance securities representing fractional interests in reinsurance contracts, underwritten by Oxbridge Re NS. Tokens, known as DeltaCat RE Tokens, will be available to accredited investors in the U.S. and non-U.S. investors, potentially offering returns of up to 40% in profitable years. The token offering is set to begin soon, in partnership with Securitize LLC for transaction processing.

Oxbridge Re Holdings Limited (OXBR) has appointed Dr. Reuel Ocho as the head of its special projects division. Dr. Ocho brings 19 years of experience in strategic IT services and digital innovation, previously serving as CTO for the Cayman Islands Ministry of Financial Services. His expertise includes blockchain technology and data architecture. This strategic hire is expected to enhance Oxbridge Re's capabilities as it approaches its 10-year anniversary in 2023, according to CEO Jay Madhu.

Oxbridge Re Holdings Limited (NASDAQ: OXBR) reported mixed financial results for the three and nine months ending September 30, 2022. Net premiums earned increased to $591,000 for Q3 2022, up from $370,000 in Q3 2021, while net premiums for the nine months reached $995,000, a rise from $755,000. However, the Company suffered a net loss of $2.2 million in Q3 2022, compared to a net income of $6.5 million in Q3 2021. The loss ratio increased significantly to 181.6% for Q3 2022 due to Hurricane Ian. Total expenses also rose, affecting the combined ratio, which hit 247.2% in Q3 2022.