Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 1012

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 7
Chunk 1012
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4, our other investments decreased to $48,000 from $2.48 million at December 31,
2023. The decrease is due primarily to the fair value changes of our investment in Jet.AI in which the Company has an equity
investment measured at fair value as well as proceeds on redemption of Series A-1 Preferred Stock.

Notes
Payable to Noteholders. As of December 31, 2024 our notes payable remained stable at $118,000.

Other
liabilities – EpsilonCat Re and DeltaCat Re Tokenholders. As of December 31, 2024, amounts due to CatRe tokenholders
increased to $1.73 million from $1.52 million at December 31, 2023. The increase is due to the proceeds from third-party investors
purchasing the EpsilonCat Re participation shares represented by digital tokens (net of management fees), plus seven months of
underwriting-relating income that is attributable to third-party tokenholders outweighing returns paid to investors who invested in
DeltaCat Re.

Unearned
Premiums Reserve. As of December 31, 2024, our unearned premiums reserve increased by $76,000, to $991,000 from $915,000 at December
31, 2024. The increase is due to reinsurance contracts placed for the 2024-2025 treaty year.

LIQUIDITY
AND CAPITAL RESOURCES

General

We
are organized as a holding company and provide administrative and management services to our subsidiaries, as well as to Oxbridge
Acquisition up to the time of its business combination with Jet.AI in August 2023. Our operations are conducted through our reinsurance subsidiaries, Oxbridge Reinsurance
Limited and Oxbridge Re NS and our Web3 focused subsidiary, SurancePlus, which includes the underwriting of risks associated with
our property and casualty reinsurance programs, as well as the tokenization of RWAs such as reinsurance contracts. We have minimal
continuing cash needs at the holding company level, with such needs principally being related to the payment of administrative
expenses and shareholder dividends (if any). There are restrictions on Oxbridge Reinsurance Limited’s and Oxbridge Re
NS’ ability to pay dividends which are described in more detail below.

Sources
and Uses of Funds

Our
sources of funds primarily consist of premium receipts (net of brokerage fees and federal excise taxes, where applicable) and investment
income, including interest, dividends and realized gains