Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 60

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 13
Chunk 60
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Islands. The Company directly owns 100% of the equity interest in Oxbridge Reinsurance Limited, an exempted entity incorporated on April
23, 2013 under the laws of the Cayman Islands and for which a Class “C” Insurer’s license was granted on April 29,
2013 under the provisions of the Cayman Islands Insurance Law. The Company also indirectly owns 80% of the equity interest in Oxbridge
Re NS, an entity incorporated as an exempted company on December 22, 2017 under the laws of the Cayman Islands to function as a reinsurance
sidecar facility and to increase the underwriting capacity of Oxbridge Reinsurance Limited. The Company also indirectly owns 80% of the
equity interest in SurancePlus Inc. (“SurancePlus”), an entity incorporated as a business company on December 19, 2022 under
the laws of the British Virgin Islands to issue digital securities. The Company and its subsidiaries (collectively “Oxbridge Re”)
businesses are as follows: SurancePlus is a Web3-focused subsidiary that currently leverages blockchain technology to democratize access
to high-return reinsurance contracts via digital securities; Oxbridge Reinsurance Limited is a licensed reinsurance subsidiary that provides
reinsurance business solutions primarily to property and casualty insurers in the Gulf Coast region of the United States; and Oxbridge
Re NS is a licensed reinsurance SPV/side car that provides third-party investors with access to reinsurance contracts with returns uncorrelated
to the financial markets. The Company operates as a single business segment through its subsidiaries. The Company’s headquarters
and principal executive offices are located at Suite 201, 42 Edward Street, George Town, Grand Cayman, Cayman Islands, and have their
registered offices at P.O. Box 309, Ugland House, Grand Cayman, Cayman Islands.

The
Company’s ordinary shares and warrants are listed on The NASDAQ Capital Market under the symbols “OXBR” and “OXBRW,”
respectively.

(b)
Basis of Presentation and Consolidation

The
accompanying consolidated financial statements for the Company have been prepared in accordance with accounting principles generally
accepted in the United States of America (“GAAP”). All significant intercompany transactions and balances have been eliminated
upon consolidation.

The
Company consolidates in these consolidated financial statements the results of operations and financial position of all voting interest
entities (“VOE”) in which the Company has a controlling