Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 228

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 16
Chunk 228
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 sheets. We determine if a contract
contains a lease at inception and recognize operating lease right-of-use assets and operating lease liabilities based on the present
value of the future minimum lease payments at the commencement date. As our leases do not provide an implicit rate, we use our incremental
borrowing rate based on the information available at the commencement date in determining the present value of future payments. Lease
agreements that have lease and non-lease components, are accounted for as a single lease component. Lease expense is recognized on a
straight-line basis over the lease term.

The
Company has two operating lease obligations namely for the Company’s office facilities located at Suite 201, 42 Edward Street Grand
Cayman, Cayman Islands and residential space at Turnberry Villas in Grand Cayman, Cayman Islands. The office lease has a remaining lease
term of approximately twenty-six (26) months. The residential lease has a remaining lease term of less than 1 month and was renewed subsequent
to year end for a period of one (1) year.

    F-26

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

14.
LEASES (continued)

The
components of lease expense and other lease information as of and during the years ended December 31, 2024 and 2023 are as follows:

SCHEDULE
OF OPERATING LEASE COST

    (in thousands) 
    2024  
    2023 

    Year Ended December 31, 
  
    (in thousands) 
    2024  
    2023 
  
    Operating Lease Cost (1) 
    $107  
    $108 

    Cash paid for amounts included in the measurement of lease liabilities 

    Operating cash flows from operating leases 
    $107  
    $108 

    (1)
    
    Includes
    short-term leases

SCHEDULE
OF OTHER LEASE INFORMATION

    (in thousands) 
    2024  
    2023 

    At December 31, 
  
    (in thousands) 
    2024  
    2023 
  
    Operating lease right-of-use assets 
    $148  
    $9 

    Operating lease liabilities 
    $148  
    $9 

    Weighted-average remaining lease term - operating leases 
     1.18 years   
     0.