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OXBRIDGE RE HOLDINGS Ltd
OXBRCIK 0001584831NasdaqNon-AcceleratedSmaller ReportingFire, Marine & Casualty InsuranceE9FY ends Dec 31
Period
FY 2025
Revenue
$2.58M
Net Income
—
Total Assets
—
Equity
—
Shares Out
8.10M
Op. Cash Flow
$-1.35M
Business
OXBRIDGE RE HOLDINGS Ltd is a Cayman Islands specialty property and casualty reinsurer that provides fully collateralized reinsurance solutions through its reinsurance subsidiaries. It offers excess-of-loss treaty reinsurance for property catastrophe risks, participates in catastrophe-linked bonds and indemnity swaps, and issues tokenized reinsurance securities via its subsidiary SurancePlus. Key business divisions include Oxbridge Reinsurance Limited, Oxbridge Re NS (a reinsurance sidecar), and Web3/tokenization operations under SurancePlus and SurancePlus Holdings. The company focuses on the Gulf Coast U.S. market, particularly Florida, and sources business primarily through reinsurance brokers and digital token offerings.
Summary from filing dated 2025-03-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Assumed premiums | 2 | 2 | 2 | 645,000 | 904,000 | |
| Change in unearned premiums reserve | 12,000 | −76,000 | −915,000 | 350,000 | — | |
| Net premiums earned | 2 | 2 | 1 | 995,000 | 965,000 | |
| SurancePlus fee income | 1,000 | 312,000 | 300,000 | — | — | |
| Realized gain on other investments | 35,000 | — | — | 27,000 | 755,000 | |
| Net investment and other income | 314,000 | 248,000 | 303,000 | 201,000 | 99,000 | |
| Interest and gain on redemption of Series A-1 preferred shares | — | 47,000 | — | — | — | |
| Interest and gain on redemption of loan receivable | — | 41,000 | — | — | — | |
| Unrealized loss on other investments | −20,000 | −2 | −9 | −35,000 | 9 | |
| Change in fair value of equity securities | −40,000 | −260,000 | 38,000 | −338,000 | — | |
| Total revenue | 3 | 546,000 | −7 | 850,000 | 10 | |
| Losses and loss adjustment expenses | 3 | — | — | 1 | — | |
| Policy acquisition costs and underwriting expenses | 252,000 | 254,000 | 141,000 | 110,000 | — | |
| General and administrative expenses | 3 | 2 | 2 | 1 | 1 | |
| Total expenses | 6 | 2 | — | 3 | 2 | |
| Loss before loss (income) attributable to tokenholders and non-controlling interests | −3 | −2 | — | — | — | |
| Loss (income) attributable to tokenholders | 1 | −962,000 | −542,000 | — | — | |
| Loss before income attributable to non-controlling interests | −2 | −3 | −9 | −2 | 9 | |
| Income attributable to non-controlling interests | −2,000 | −139,000 | — | −43,000 | — | |
| Net loss attributable to ordinary shareholders | −2 | −3 | −10 | −2 | 9 | |
| Basic (per share) | −0.28 | −0.45 | −1.69 | −0.31 | 1.49 | |
| Diluted (per share) | −0.28 | −0.45 | −1.69 | −0.31 | — | |
| Basic (shares) | 7 | 6 | 6 | 6 | 6 | |
| Diluted (shares) | 7 | 6 | 6 | 6 | 6 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Equity securities, at fair value (cost: $0 and $1,532) | — | 113,000 | 680,000 | 642,000 | 577,000 | |
| Cash and cash equivalents | 268,000 | 2 | 495,000 | 1 | 4 | |
| Restricted cash and cash equivalents | 7 | 4 | 3 | 3 | — | |
| Premiums receivable | 766,000 | 1 | 977,000 | 282,000 | 284,000 | |
| Other investments | — | 48,000 | 2 | 11 | 11 | |
| Deferred policy acquisition costs | 102,000 | 109,000 | 101,000 | — | 38,000 | |
| Operating lease right-of-use assets | 43,000 | 148,000 | 9,000 | 44,000 | 135,000 | |
| Prepayment and other assets | 150,000 | 94,000 | 96,000 | 114,000 | 50,000 | |
| Property and equipment, net | 16,000 | 1,000 | 4,000 | 5,000 | 9,000 | |
| Total assets | 8 | 7 | 8 | 17 | 18 | |
| Reserve for losses and loss adjustment expenses | 91,000 | — | — | 1 | — | |
| Notes payable to noteholders | 118,000 | 118,000 | 118,000 | 216,000 | 216,000 | |
| Unearned premiums reserve | 926,000 | 991,000 | 915,000 | — | 350,000 | |
| Losses Payable | 73,000 | — | — | — | — | |
| Operating lease liabilities | 43,000 | 148,000 | 9,000 | 44,000 | 135,000 | |
| Accounts payable and other liabilities | 309,000 | 366,000 | 356,000 | 294,000 | 337,000 | |
| Total liabilities | 2 | 2 | 3 | 2 | 1 | |
| Due to EpsilonCat Re / DeltaCat Re / EtaCat Re / ZetaCat Re Tokenholders | 518,000 | 2 | — | — | — | |
| Ordinary share capital, (par value $0.001, 500,000,000 shares authorized; 7,664,122 and 6,379,002 shares issued and outstanding) | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |
| Additional paid-in capital | 38 | 34 | — | — | — | |
| Accumulated Deficit | −32 | −30 | −27 | −17 | −16 | |
| Total Oxbridge shareholders equity | 6 | 4 | 5 | 15 | 17 | |
| Non-controlling interests | 59,000 | 162,000 | — | — | — | |
| Total shareholders equity | 6 | 4 | 5 | 15 | — | |
| Total liabilities, mezzanine and shareholders equity | 8 | 7 | 8 | 17 | 18 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Share-based compensation | 418,000 | 234,000 | 258,000 | 127,000 | 61,000 | |
| Depreciation and amortization | 1,000 | 3,000 | 6,000 | 4,000 | 7,000 | |
| Interest and gain on redemption of loan receivable | — | −41,000 | — | — | — | |
| Operating right-of-use asset | 105,000 | — | — | — | — | |
| Operating lease liability | −105,000 | — | — | — | — | |
| Premiums receivable | 293,000 | −82,000 | −695,000 | 2,000 | 180,000 | |
| Due from related parties | — | 63,000 | −18,000 | −40,000 | −5,000 | |
| Deferred policy acquisition costs | 7,000 | −8,000 | −101,000 | 38,000 | 7,000 | |
| Prepayment and other assets | −56,000 | 2,000 | 18,000 | −64,000 | 25,000 | |
| Losses payable | 73,000 | — | — | — | — | |
| Reserve for loss and loss adjustment expenses | 91,000 | — | — | — | — | |
| Unearned premiums reserve | −65,000 | 76,000 | 915,000 | −350,000 | −61,000 | |
| Accounts payable and other liabilities | −57,000 | 10,000 | 62,000 | −43,000 | 128,000 | |
| Net cash used in operating activities | −1 | −284,000 | −1 | −829,000 | −253,000 | |
| Proceeds of loan receivable | — | 141,000 | — | — | — | |
| Proceeds on redemption of Series A-1 preferred stock | — | 332,000 | — | — | — | |
| Proceeds from sale of equity securities | 73,000 | 307,000 | — | 626,000 | 1 | |
| Proceeds from sale of other investments | 63,000 | — | — | — | — | |
| Purchase of property and equipment | −16,000 | — | −5,000 | — | −3,000 | |
| Net cash provided by investing activities | 120,000 | 780,000 | −105,000 | −661,000 | −2 | |
| Net proceeds from issuance of ordinary shares | 4 | 1 | — | — | — | |
| Tokenholders | −1 | −948,000 | — | — | — | |
| Net proceeds from the issuance of tokens | — | 1 | — | — | — | |
| Net cash provided by financing activities | 2 | 2 | 1 | — | 0 | |
| Net change during the year | 1 | 2 | −183,000 | −1 | −2 | |
| Reclassification of contributed non-controlling interest | 105,000 | 23,000 | — | — | — | |
| Right-of-use lease asset obtained in exchange for operating lease liabilities | — | 148,000 | — | — | — |
Filings
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