Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 1452

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 11
Chunk 1452
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 more appropriate depending on the type and structure of the contract, the age and maturity
of the contract, and the duration of the expected paid losses on the contract.

The
Company’s gross aggregate reserves are the sum of the point estimate reserves of all portfolio exposures. Generally, IBNR loss
reserves are calculated by estimating the ultimate incurred losses at any point in time and subtracting cumulative paid claims and case
reserves, which incorporate specific exposures, loss payment and reporting patterns and other relevant factors.

There
were no significant changes in the Company’s methodology or assumptions relating to the Company’s reserve for loss and loss
adjustment expenses for the years ended December 31, 2024 or 2023.

Claims
Development Tables, IBNR Reserves and Claims Frequency

The
following table discloses information about the Company’s incurred and paid claims development as of December 31, 2024, as well
as cumulative claim frequency and the total of incurred-but-not-reporting and expected development on reported claims included within
the net incurred claims amounts. A claim is defined as a reported loss from a cedant on an excess-of-loss reinsurance contract arising
from a loss event for which the Company records a paid loss or case reserve. The Company operates a single business segment, being property
catastrophe reinsurance.

    F-20

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

7.
RESERVE FOR LOSSES AND LOSS ADJUSTMENT EXPENSES (continued)

Property
Catastrophe Reinsurance

 SCHEDULE
OF INCURRED LOSSES AND ADJUSTMENT EXPENSES

(in
thousands)

Incurred
Losses and Loss Adjustment Expenses

    Accident Year 
    2016  
    2017  
    2018  
    2019  
    2020  
    2021  
    2022  
    2023  
    2024  
    As of December 31, 2024
                                                                                 Total of Incurred-but -Not-Reported Liabilities Plus Expected Development on Reported Claims  
    Cumulative Number of Reported Claims   

    (dollars in thousands) 
  
    2016 
    $14,775  
    $18,801  
    $17,795  
    $17,689  
    $17,689  
    $