Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 1410

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 10
Chunk 1410
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 and 2023, there was approximately $48,000 and
$119,000, respectively, of unrecognized compensation expense related to non-vested restricted stock granted under the Plans. The
Company expects to recognize the remaining compensation expense over a weighted-average period of two (2) months.

    F-24

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

12.
NET WORTH FOR REGULATORY PURPOSES

The
subsidiaries are subject to a minimum and prescribed capital requirement as established by CIMA. Under the terms of their respective
licenses, Oxbridge Reinsurance Limited and Oxbridge Re NS are required to maintain a minimum and prescribed capital requirement of $500
in accordance with the relevant subsidiary’s approved business plan filed with CIMA.

At
December 31, 2024, the Oxbridge Reinsurance Limited’s net worth of $19,000 exceeded the minimum and prescribed capital requirement.
For the years ended December 31, 2024 and 2023, Oxbridge Reinsurance Ltd.’s net loss was approximately $2.67 million and $11.29
million, respectively.

At
December 31, 2024, the Oxbridge Re NS’ net worth of $374 thousand exceeded the minimum and prescribed capital requirement. For
the years ended December 31, 2024 and 2023, Oxbridge Re NS’ net income was approximately $151,000 and $68,000, respectively.

The
Subsidiaries are not required to prepare separate statutory financial statements for filing with CIMA, and there were no material differences
between the Subsidiaries’ GAAP capital, surplus and net income, and its statutory capital, surplus and net income as of December
31, 2024 or for the year then ended.

13.
FAIR VALUE AND CERTAIN RISKS AND UNCERTAINTIES

Fair
values

With
the exception of balances in respect of insurance contracts (which are specifically excluded from fair value disclosures under GAAP)
and investment securities as disclosed in Note 4 of these consolidated financial statements, the carrying amounts of all other financial
instruments, which consist of cash and cash equivalents, restricted cash and cash equivalents, premiums receivable and other assets,
loan receivable, notes payable, and accounts payable and other liabilities, approximate their fair values due to their short-term nature.

Concentration
of underwriting risk

A
substantial portion