Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 803

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 4
Chunk 803
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 $0.45 basic and diluted loss per share compared to a net loss of
$9.9 million or $1.69 basic and diluted earnings per share for the year ended December 31, 2023. The change is primarily due to the decrease
in the negative change in the fair value of other investments during the year ended December 31, 2024, when compared with the prior year.

Premium
Income. Net premiums earned typically reflects the pro-rata inclusion into income of premiums assumed over the life of the reinsurance
contracts.

Net
premiums earned for the year ended December 31, 2024 increased to $2.3 million, from $1.26 million for the year ended December 31, 2023.
This increase is primarily attributed to the higher rates on contracts as well as the prior period recognizing only seven months of premiums
due to the acceleration of premiums on contracts in force during the year ended December 31, 2023. In contrast, the current year ended December 31,
2024 accounted for a full twelve (12) months of premiums.

35

Losses
Incurred. There were no losses incurred for the year ended December 31, 2024 and 2023.

Policy
Acquisition Costs and Underwriting Expenses. Acquisition costs represent the amortization of the brokerage fees and federal excise
taxes incurred on reinsurance contracts placed. Policy acquisition costs and underwriting expenses for the year ended December 31, 2024
increased to $254,000 from $141,000 for the year ended December 31, 2023. The increases are primarily due to the prior year recognizing
only seven (7) months of policy acquisition costs because of premium and acquisition costs acceleration on the reinsurance contracts
in force at December 31, 2022. In contrast, the current year ended December 31, 2024 accounted for a full twelve (12) months of policy
acquisition costs.

General
and Administrative Expenses. General and administrative expenses for the year ended December 31, 2024 decreased to $1.9 million
from $2.2 million for the year ended December 31, 2023. The decrease in 2024 is due to expense fluctuations along with efficiencies associated
with SurancePlus offerings being recognized during the year, in addition to previous recognition of costs associated with Maxim equity
distribution agreement in 2023.

MEASUREMENT
OF RESULTS

We
use various measures