Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 444

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 444
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 adjustment expenses are a function of the amount and type of reinsurance contracts we write and of the loss experience of the
underlying coverage. As described below, loss and loss adjustment expenses are based on the claims reported by our Company’s ceding
insurers, and may include an actuarial analysis of the estimated losses, including losses incurred during the period and changes in estimates
from prior periods. Depending on the nature of the contract, loss and loss adjustment expenses may be paid over a period of years.

Policy
Acquisition Costs and Underwriting Expenses

Policy
acquisition costs and underwriting expenses consist primarily of brokerage fees, ceding commissions, premium taxes and other direct expenses
that relate to our writing of reinsurance contracts. We amortize deferred acquisition costs over the related contract term.

General
and Administrative Expenses

General
and administrative expenses consist of salaries and benefits and related costs, including costs associated with our professional fees,
rent and other general operating expenses consistent with operating as a public company.

34

RESULTS
OF OPERATIONS

The
following table summarizes our results of operations for the years ended December 31, 2024 and 2023 (dollars in thousands, except per
share amounts):

    Years Ended December 31, 

    2024  
    2023 

    Revenue 

    Assumed premiums 
    $2,379  
     2,170 
  
    Change in unearned premiums reserve 
     (76) 
     (915)

    Net premiums earned 
     2,303  
     1,255 
  
    Net investment and other income 
     248  
     303 
  
    SurancePlus fee income 
     312  
     300 
  
    Interest and gain on redemption of Series A-1 Preferred Shares 
     47  
     - 
  
    Interest and gain on redemption of loan receivable 
     41  
     - 
  
    Unrealized loss on other investments 
     (2,145) 
     (8,945)
  
    Change in fair value of equity securities 
     (260) 
     38 

    Total revenue 
     546  
     (7,049)

    Expenses 

    Policy acquisition costs and underwriting expenses 
     254  
     141 
  
    General and administrative expenses 
     1,917  
     2,183