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Overview of Oxbridge Re Holdings Ltd
Oxbridge Re Holdings Ltd is a specialized property and casualty reinsurer that offers fully collateralized reinsurance solutions. Serving the niche market of underwriting medium frequency, high severity risks with limited historical data, the company is known for its analytical expertise and a focused approach on property reinsurance and risk underwriting. Operating primarily in the Gulf Coast region, with a particular emphasis on Florida, the company caters to insurance companies seeking tailored reinsurance contracts that better manage underwriting uncertainty.
Business Model and Core Operations
The company operates on a single operating segment centered on property and casualty reinsurance. Its business model is built on underwriting fully collateralized reinsurance contracts. This approach minimizes counterparty risk and provides clear risk/return profiles, even when dealing with complex claims profiles where data is sparse. By concentrating on medium frequency, high severity risks, Oxbridge Re capitalizes on niche market expertise and sophisticated risk evaluation techniques to structure contracts that are both competitive and robust in challenging risk environments.
Market Position and Strategic Focus
Oxbridge Re Holdings Ltd has carved out a distinctive position within the reinsurance industry. With its operations concentrated in a region known for unique exposure to property risks, the company leverages its local market insights and specialized underwriting methods. Its focus on fully collateralized contracts not only enhances its risk management framework but also instills a strong foundation of trust among its clients. This strategic focus differentiates Oxbridge Re from other reinsurers that may rely on more diversified or conventional underwriting models.
Expertise in Risk Underwriting
One of the firm’s core competencies is its ability to effectively underwrite risks where there is insufficient historical data. This intricate risk modeling is achieved through rigorous analysis and the application of industry-specific underwriting principles. The company’s methodology ensures that each contract is evaluated with precision, balancing exposure with the assured collateralization to maintain stability and provide predictable risk mitigation. This expertise is critical in a segment where conventional data-driven models often fall short.
Operational Integrity and Industry Terminology
Maintaining a high standard of operational integrity, Oxbridge Re Holdings Ltd adheres to strict underwriting guidelines and risk control measures. Employing advanced risk assessment frameworks, the company applies concepts common in reinsurance analytics, such as loss expectancy, exposure analysis, and collateralization strategies. These practices underscore the company’s commitment to transparency and rigorous evaluation, further reinforcing its reliability in the marketplace.
Position Within the Reinsurance Ecosystem
In an industry characterized by complex risk dynamics and rapidly evolving market conditions, Oxbridge Re Holdings Ltd stands out for its concentrated focus and expertise in underwriting specialized risks. While some reinsurers diversify across multiple segments, Oxbridge Re’s concentrated approach allows for a deep understanding of the nuances in property and casualty reinsurance. This targeted strategy not only enhances its operational efficiency but also provides a clear competitive differentiation in how it manages risk for its clientele.
The company’s approach is particularly significant for insurance companies operating in high-risk regions. By providing fully collateralized solutions, Oxbridge Re mitigates the uncertainties inherent in underwriting events with potentially significant adverse outcomes. This reliability is crucial for organizations needing precise risk management solutions without compromising on the stringent requirements of reinsurance agreements.
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.
Oxbridge Re (NASDAQ: OXBR, OXBRW) plans to announce its third quarter and nine-month results for 2022 on November 14, 2022, followed by a conference call at 4:30 p.m. Eastern time. The results will be released after market close on the same day. This event will include a management-hosted Q&A session. Interested parties can join the call using designated toll-free and international numbers. A replay will be accessible until November 28, 2022, through Oxbridge’s website.
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