Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 450

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 450
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 proceeds from the issuance of ordinary shares through the Company’s ATM facility.

Cash
Flows for the Year ended December 31, 2023 (in thousands)

Net
cash used in operating activities for the year ended December 31, 2023 totaled $1,260, which consisted primarily of cash received on
net written premiums less cash disbursed for operating expenses. Net cash used in investing activities of $105 which due mainly to investment
in note receivable from Jet.AI. Net cash provided by financing activities was $1,182 which consisted primarily of net proceeds from Delta
Cat Re Tokens offset by the partial redemption payment made to noteholders.

OFF-BALANCE
SHEET ARRANGEMENTS

As
of December 31, 2024, we had no off-balance sheet arrangements as defined in Item 303(a)(4) of Regulation S-K.

Exposure
to Catastrophes

As
with other reinsurers, our operating results and financial condition could be adversely affected by volatile and unpredictable natural
and man-made disasters, such as hurricanes, windstorms, earthquakes, floods, fires, riots and explosions, and particularly to weather
events in the State of Florida. Although we attempt to limit our exposure to levels, we believe are acceptable, it is possible that an
actual catastrophic event or multiple catastrophic events could have a material adverse effect on our financial condition, results of
operations and cash flows. As described under “CRITICAL ACCOUNTING POLICIES—Reserves for Losses and Loss Adjustment Expenses”
below, under accounting principles generally accepted in the United States of America (“GAAP”), we are not permitted to establish
loss reserves with respect to losses that may be incurred under reinsurance contracts until the occurrence of an event which may give
rise to a claim. As a result, only loss reserves applicable to losses incurred up to the reporting date may be established, with no provision
for a contingency reserve to account for expected future losses.

CRITICAL
ACCOUNTING POLICIES

We
are required to make estimates and assumptions in certain circumstances that affect amounts reported in our consolidated financial statements
and related footnotes. We evaluate these estimates and assumptions on an on-going basis based on historical developments, market conditions,
industry trends and other information that we believe to be reasonable under the circumstances. These accounting policies pertain to
fair value measurements, particular with respect to our investment in Jet.AI., premium revenues and risk transfer, reserve for loss and
loss adjustment expenses, and deferred acquisition