Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 447

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 447
---
 to net premiums
earned. The acquisition cost ratio measures our operational efficiency in producing, underwriting and administering our reinsurance business.
The acquisition cost ratio decreased marginally to 11.0% for the year ended December 31, 2024 from 11.2% in the prior year.

Expense
Ratio. The expense ratio is the ratio of policy acquisition costs, other underwriting expenses and general and administrative
expenses to net premiums earned. We use the expense ratio to measure our operating performance. The expense ratio decreased from 185.2%
for the year ended December 31, 2023 to 94.3 % for the year ended December 31, 2024. The decrease is due to the higher levels of premium
earned and lower general administrative expenses incurred during the year ended December 31, 2024.

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. The combined ratio decreased from 185.2% for the year ended December 31, 2023 to 94.3 % for the year ended December
31, 2024. The decrease is due to the higher levels of premium earned and lower general administrative expenses incurred during the year
ended December 31, 2024.

FINANCIAL
CONDITION – DECEMBER 31, 2024 COMPARED TO DECEMBER 31, 2023

Restricted
Cash and Cash Equivalents. As of December 31, 2024, our cash and restricted cash increased by $2.2 million to $5.9 million from
$3.7 million as of December 31, 2023. The increase is primarily due to new collateral deposits for treaty year ending May 31, 2025 more
than offsetting funds being released from the underlying trusts for treaty year ending May 31, 2024.

36

Investments.
As of December 31, 2024, our equity securities decreased by $567,000 to $113,000, from $680,000 as of December 31, 2023. The
decrease is primarily a result of the sale of two of the equity securities and the decrease in value of the equity securities during
the year ended December 31, 2024.

Other
investments. As of December 31, 2024, our other investments decreased to $48,000 from $2.48 million