Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 47

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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5 when
compared with prior comparative period. The loss ratio increased to 132.4% for the nine-month period ended September 30, 2025, when compared
with the prior comparative period. This was due to the full limit loss on one of our reinsurance contracts affected by Hurricane Milton.

Acquisition
Cost Ratio. The acquisition cost ratio is the ratio of policy acquisition costs and other underwriting expenses to net premiums
earned. The acquisition cost ratio measures our operational efficiency in producing, underwriting and administering our reinsurance business.

The
acquisition cost ratio remained consistent at 11.0% for the quarter end and nine-month periods ended September 30, 2025 compared with
the quarter and nine-month periods ended September 30, 2024.

Expense
Ratio. The expense ratio is the ratio of policy acquisition costs and general and administrative expenses to net premiums earned.
We use the expense ratio to measure our operating performance. For the three-month period ended September 30, 2025, the expense ratio
increased to 146.8%, from 83.7% for the three-month period ended September 30, 2024. For the nine-month period ended September 30, 2025,
the expense ratio increased to 156.2%, from 98% for the nine-month period ended September 30, 2024. The increases are primarily due to
increased professional costs relating to investor relations and our web3 subsidiary marketing and operations, renewed S-3 related costs,
increased human resources and personnel costs and legal expenditures during the quarter ended September 30, 2025, when compared with
the prior comparable periods.

Combined
Ratio. We use the combined ratio to measure our underwriting performance. The combined ratio is the sum of the loss ratio and
the expense ratio. For the three-month period ended September 30, 2025, the combined ratio increased to 146.8%, from 83.7% for the three-month
period ended September 30, 2024. For the nine-month period ended September 30, 2025, the combined ratio increased to 288.6%, from 98%
for the nine-month period ended September 30, 2024. The increase is due to higher general and administrative expenses and the losses
incurred during the three-month and nine-month periods ended September 30, 2025, when compared with the prior comparable periods.

FINANCIAL
CONDITION –SEPTE