Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 36

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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ition to our historical reinsurance business operations, in 2023, our new subsidiary SurancePlus developing, offering, and selling
a tokenized reinsurance security representing fractionalized interests in reinsurance contracts, with each token representing an interest
in participating notes issued by Oxbridge Re NS. These efforts culminated in the development, launch, and issuance of our first tokenized
reinsurance security, the DeltaCat Re Token, which we believe is the first “on-chain” reinsurance security of its kind to
be developed by a subsidiary of a public company. Following the issuance of the DeltaCat Re Token, we intend to develop, launch, and
issue additional series of tokenized reinsurance securities representing fractional interests in reinsurance contracts, and we are also
using our tokenization experience and activities as a foundation for developing Web3-focused business offerings and products relating
to the tokenization of other real-world assets (RWAs), including RWAs held or being acquired by third parties. Our tokenization business
will be conducted through SurancePlus and through other subsidiaries of our wholly owned subsidiary, SurancePlus Holdings Ltd. (“SurancePlus
Holdings”), [a Cayman Islands exempted company] that we have organized to serve as a holding company for subsidiaries that will
operate our developing Web3-focused business operations.

24

In
our historical reinsurance business operations, we underwrite reinsurance contracts on a selective and opportunistic basis as opportunities
arise based on our goal of achieving favorable long-term returns on equity for our shareholders. Our goal is to achieve long-term growth
in book value per share by writing business that generates attractive underwriting profits relative to the risk we bear. Additionally,
we intend to complement our underwriting profits with investment profits on an opportunistic basis. Our underwriting business focus is
on fully collateralized reinsurance contracts for property catastrophes, primarily in the Gulf Coast region of the United States. Within
that market and risk category, we attempt to select the most economically attractive opportunities across a variety of property and casualty
insurers. As we attempt to grow our capital base, we expect that we will consider further growth opportunities in other geographic areas
and risk categories.

Our
level of profitability is primarily determined by how adequately our premiums assumed and investment income cover our costs and expenses,
which consist primarily of acquisition costs and other underwriting expenses, claim payments and general and administrative expenses.
One factor leading to variation in our operational results is the timing and magnitude of any follow-on offerings