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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.
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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.