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Oxbridge Re Holdings Limited reports developments in tokenized real-world assets and property-and-casualty reinsurance business solutions. The Cayman Islands company, through SurancePlus Inc., Oxbridge Re NS and Oxbridge Reinsurance Limited, offers tokenized reinsurance securities and reinsurance solutions for property and casualty insurers, including insurers in the U.S. Gulf Coast region.
Recurring news themes include financial results, SurancePlus participation-share offerings represented by digital tokens, collateralized reinsurance activity, blockchain infrastructure and distribution partnerships, and capital-structure updates. Company announcements also cover the expansion of tokenized reinsurance as an on-chain real-world asset category and related platform activity.
Oxbridge Re Holdings Limited (NASDAQ:OXBR) reported positive earnings for Q2 2021, achieving a net income of $448,000, up from $165,000 in Q2 2020. Premium income rose to $205,000 due to higher reinsurance rates, despite a slight decrease in net premiums earned for the first half of 2021. Expenses totaled $334,000 in Q2, reflecting increased policy acquisition costs. The company maintains a 0.0% loss ratio year-to-date. Oxbridge Acquisition Corp. successfully raised $115 million in its IPO. The management remains optimistic about the company's long-term prospects and investments in technology sectors.
Oxbridge Acquisition Corp. has announced the pricing of its initial public offering (IPO) of 10 million units at $10.00 each, consisting of one Class A ordinary share and one redeemable warrant. Trading under the ticker symbol OXACU on Nasdaq starts August 12, 2021, with shares and warrants separating to trade under OXAC and OXACW, respectively. The IPO is expected to close on August 16, 2021, with the underwriters given a 45-day option for an additional 1.5 million units. The company aims to target technology businesses within insurtech, blockchain, and AI sectors.
Oxbridge Re (NASDAQ:OXBR) has rescheduled its quarterly conference call to August 16, 2021, at 4:30 p.m. Eastern time. This call will present the financial results for the second quarter and six months ending June 30, 2021. A press release detailing the results will be issued after market close on the same date. Interested parties can access the call via a toll-free number or webcast through the company's website. A replay will be available through September 16, 2021.
Oxbridge Re (NASDAQ:OXBR) will host a conference call on August 13, 2021 at 4:30 p.m. ET to discuss its Q2 2021 financial results. A press release detailing these results will be circulated after market close on the same day. Interested parties can join the call via a toll-free number or through a webcast on the company's website. A replay will be available post-call until September 13, 2021. Oxbridge Re specializes in reinsurance solutions, particularly for property and casualty insurers in the Gulf Coast region.
Oxbridge Re (NASDAQ:OXBR) announced that its indirect subsidiary, Oxbridge Acquisition Corp., has filed a Registration Statement on Form S-1 with the SEC for a proposed initial public offering (IPO) targeting a base size of $100 million. Oxbridge Reinsurance Limited will be the lead investor in this SPAC, focusing on investments in disruptive technologies such as InsurTech, blockchain, and AI. The IPO aims to bolster the growth of Oxbridge Reinsurance’s capital. Maxim Group LLC is the book-running manager for the offering.
Oxbridge Re Holdings Limited (NASDAQ:OXBR) reported improved financial results for Q1 2021, with a net income of $28,000, a turnaround from a net loss of $364,000 in Q1 2020. The positive change is attributed to an increase in the fair value of equity securities. Although net premiums earned slightly decreased to $181,000, the company incurred no losses during the period. The combined ratio rose to 150.3%, indicating underwriting inefficiencies. Management remains optimistic about growth opportunities and is set to discuss results in a conference call.
Oxbridge Re (NASDAQ:OXBR) will hold a conference call on May 14, 2021, at 4:30 p.m. ET to discuss its first-quarter results for the period ending March 31, 2021. A press release with financial details will precede the call on the same day. Investors can access the call via a toll-free number or through a webcast link on the company's website. A replay will be available until June 13, 2021. Oxbridge specializes in providing reinsurance solutions to property and casualty insurers, focused on high severity risks in the Gulf Coast region.
Oxbridge Re Holdings Limited (NASDAQ:OXBR) announced its financial results for the year ending December 31, 2020. The company achieved a net income of $181,000 in Q4 2020, compared to $61,000 in Q4 2019. Full-year net loss decreased to $50,000 from $305,000 in 2019, driven by increased net premiums earned and lower G&A expenses. Premium income rose to $893,000 for 2020, while total expenses slightly declined. The company reported a 0% loss ratio and a combined ratio of 126.1% for the year. Optimistic projections include a 24% return on investment for sidecar investors.
Oxbridge Re (NASDAQ: OXBR) will hold a conference call on March 30, 2021, at 4:30 p.m. ET to discuss its 2020 fourth quarter and annual results. A press release will precede the call, providing financial details after market close. The call can be accessed via toll-free and international numbers, and a replay will be available until April 30, 2021. Oxbridge specializes in reinsurance for property and casualty insurers in the U.S. Gulf Coast region, focusing on high severity risks.
Oxbridge Re Holdings Limited (NASDAQ:OXBR) reported third-quarter and nine-month results on November 10, 2020. For the nine months, net premiums earned increased to $646,000, compared to $372,000 in 2019. Despite a net loss of $232,000 or $(0.04) per share, this was an improvement from a loss of $366,000 in the previous year. The company maintained a 0.0% loss ratio and reduced general & administrative expenses. Cash and equivalents stood at $7.4 million. The combined ratio was 107.7% for the quarter, indicating a need for improved underwriting performance.