Oxbridge Re Holdings Limited reports developments around its reinsurance business and its SurancePlus tokenized real-world asset platform. The Cayman Islands issuer offers tokenized reinsurance securities through SurancePlus and property-and-casualty reinsurance business solutions through Oxbridge Reinsurance Limited and Oxbridge Re NS.
Recurring updates include operating and financial results, capital-structure disclosures, SurancePlus participation-share offerings represented by digital tokens, collateralized reinsurance contract activity, and blockchain distribution or infrastructure relationships for on-chain reinsurance securities. OXBRW represents warrants to purchase Oxbridge Re ordinary shares listed on Nasdaq.
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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.