Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 124

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 124
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30, 2025 increased to $1.18 million from $1.11 million for the quarter ended June 30,
2024. The increase is due to the rates on contracts that were in force in the quarter ended June 30, 2025 when compared to the
contracts in force in the prior-year period.

Losses
Incurred. During the three-month period ending June 30, 2025, one of our reinsurance contracts
experienced adverse loss development stemming from Hurricane Milton, and we recognized a full limit loss of $2.3 million. There were
no losses incurred during the three month period ending June 30, 2024.

During
the six-month period ending June 30, 2025, one of our reinsurance contracts experienced adverse loss development stemming from Hurricane
Milton, and we recognized a full limit loss of $2.3 million. There were no losses incurred during the six-month period ending June 30,
2024. The net impact of the Hurricane Milton’s loss on the Company’s equity, after accounting for the portion of losses borne by
external tokenholders’, is $1.18 million.

30

Policy
Acquisition Costs. Acquisition costs represent the amortization of the brokerage fees and federal excise taxes incurred on reinsurance
contracts placed. Policy acquisition costs for the quarter ended June 30, 2025 increased to $64,000 from $62,000 for the quarter ended
June 30, 2024. The increase is due to the rates on contracts in force in the quarter ended June 30, 2025, and the resulting acquisition
costs, when compared to the rates on contracts in the prior-year period.

Policy
acquisition costs for the six months ended June 30, 2025 increased from $122,000 to $129,000 for the six-moths ended June 30, 2025. The
increase is due to the rates on contracts in force in the quarter ended June 30, 2025, and the resulting acquisition costs, when compared
to the rates on contracts in the prior-year period.

General
and Administrative Expenses. General and administrative expenses for the quarter ended June 30, 2025 increased to $1.3 million
from $566,000 for the quarter ended June 30, 2024. The increase is primarily due to increased professional costs relating to investor
relations, our web3 subsidiary tokenization costs, renewed S-3 related