Company: OXBRW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009673
Chunk: 14

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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net written premiums less cash disbursed for operating expenses. Net provided by investing activities was $63, which consisted of consideration received on sale of investment in Jet.AI. Net cash used provided financing activities was $3.4 million
which consisted of net proceeds from issuance of ordinary shares through the Company’s ATM facility and the registered direct offering
completed during the quarter..

Cash Flows for the Three
months ended March 31, 2024 (in thousands)

Net
cash used in operating activities for the three months ended March 31, 2024 totaled $276, which consisted primarily of cash
received net written premiums less cash disbursed for operating expenses. Net provided by investing activities of $448 which was due
to the repayment of the note receivable by Jet.AI and the proceeds from the sale of two of our equity securities. Net cash provided
by financing activities was $395.

32

OFF-BALANCE SHEET ARRANGEMENTS

As of March 31, 2025, we had no
off-balance sheet arrangements as defined in Item 303(a)(4) of Regulation S-K.

Exposure
to Catastrophes

As with other reinsurers, our
operating results and financial condition could be adversely affected by volatile and unpredictable natural and man-made disasters, such
as hurricanes, windstorms, earthquakes, floods, fires, riots and explosions. Although we attempt to limit our exposure to levels, we believe
are acceptable, it is possible that an actual catastrophic event or multiple catastrophic events could have a material adverse effect
on our financial condition, results of operations and cash flows. As described under “CRITICAL ACCOUNTING POLICIES—Reserves
for Losses and Loss Adjustment Expenses” below, under accounting principles generally accepted in the United States of America
(‘‘GAAP’’), we are not permitted to establish loss reserves with respect to losses that may be incurred under
reinsurance contracts until the occurrence of an event which may give rise to a claim. As a result, only loss reserves applicable to losses
incurred up to the reporting date may be established, with no provision for a contingency reserve to account for expected future losses.

CRITICAL ACCOUNTING POLICIES

We are required to make estimates
and assumptions in certain circumstances that affect amounts reported in our consolidated financial statements and related footnotes.
We evaluate these estimates and assumptions on an on-going basis based on historical developments, market conditions, industry trends
and other information that we believe to be reasonable under