Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 84

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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2024, Oxbridge Reinsurance Limited’s net income and loss was approximately $24,000
and $2.1 million, respectively.

At
June 30, 2025, the Oxbridge Re NS’ net worth of $461,000 exceeded the minimum and prescribed capital requirement. For the three-month
periods ended June 30, 2025 and 2024 the Oxbridge Re NS’ net income was approximately $79,000 and $41,000, respectively.

The
Subsidiaries are not required to prepare separate statutory financial statements for filing with CIMA, and there were no material differences
between the Subsidiaries’ GAAP capital, surplus and net (loss) income, and its statutory capital, surplus and net (loss) income
as of June 30, 2025 or for the period then ended.

    20

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements (unaudited)

June
30, 2025

13.
FAIR VALUE AND CERTAIN RISKS AND UNCERTAINTIES

Fair
values

With
the exception of balances in respect of insurance contracts (which are specifically excluded from fair value disclosures under GAAP)
and investment securities as disclosed in Note 4 of these consolidated financial statements, the carrying amounts of all other financial
instruments, which consist of cash and cash equivalents, restricted cash and cash equivalents, premiums receivable and other assets,
notes payable and accounts payable and other liabilities, approximate their fair values due to their short-term nature.

Concentration
of underwriting risk

A
substantial portion of the Company’s current reinsurance business ultimately relates to the risks of a limited number of entities;
accordingly, the Company’s underwriting risks are not significantly diversified.

Concentrations
of Credit and Counterparty Risk

The
Company markets retrocessional and reinsurance policies worldwide through its brokers. Credit risk exists to the extent that any of these
brokers may be unable to fulfill their contractual obligations to the Company. For example, the Company is required to pay amounts owed
on claims under policies to brokers, and these brokers, in the Company. In some jurisdictions, if a broker fails to make such a payment,
the Company might remain liable to the ceding company for the deficiency. In addition, in certain jurisdictions, when the ceding company
pays premiums for these policies to brokers, these premiums are considered to have