Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 416

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 416
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 or
    appears to be likely to become unable to meet its obligations as they fall due;

    ●
    a licensee is carrying
    on its business in a manner which is seen as detrimental to the general public interest or to the interests of its creditors or policy
    holders;

    ●
    the activities of any member
    of the licensee’s insurance group are detrimental to those interests of the licensee’s creditors, as well as its policy
    holders;

    ●
    a licensee has contravened
    the Law or the Money Laundering Regulations (2023 Revision) of the Cayman Islands;

    ●
    the licensee has failed
    to comply with a condition of its license such as maintaining a margin of solvency as prescribed by CIMA;

    ●
    the direction and/or management
    of the licensee’s business has not been conducted in a fit and proper manner;

    ●
    a director, manager or
    officer of the licensee’s business is not someone who would qualify or be seen as a person suitable to hold the respective
    position;

    ●
    any person who is either
    holding or acquiring control or ownership of the licensee is not a fit and proper person to have such control or ownership;

    ●
    the licensee has ceased
    to carry on business; or

    ●
    the licensee is placed
    in liquidation or is dissolved;

CIMA
may take one of a number of steps, including:

    ●
    requiring the licensee
    to take steps to rectify the matter;

    ●
    suspending the license
    of the licensee pending a full inquiry into the licensee’s affairs;

    ●
    revoking the license;

    ●
    imposing conditions upon
    the licensee in terms of decisions made by it, including the suspension of voting rights or nullification of votes cast by it, and
    amending or revoking any such condition;

    ●
    requiring the substitution
    or removal of any director, manager or officer of the licensee, at the expense of the licensee;

    ●
    appointing a person to
    advise the licensee on the proper conduct of its affairs, at the expense of the licensee;

    ●
    appointing a person to
    assume control of the licensee’s affairs; or

    ●
    otherwise requiring such
    action to be taken by the licensee as CIMA considers necessary.

Failures
to comply with a direction