Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 370

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 370
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 in accordance with accounting principles generally
accepted in the United States of America (“GAAP”). All significant intercompany transactions and balances have been eliminated
upon consolidation.

The
Company consolidates in these consolidated financial statements the results of operations and financial position of all voting interest
entities (“VOE”) in which the Company has a controlling financial interest and all variable interest entities (“VIE”)
in which the Company is considered to be the primary beneficiary. The consolidation assessment, including the determination as to whether
an entity qualifies as a VIE or VOE, depends on the facts and circumstances surrounding each entity.

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use
of Estimates: In preparing the consolidated financial statements, management was required to make certain estimates and assumptions
that affect the reported amounts of the consolidated assets, liabilities, revenues, expenses and related disclosures at the financial
reporting date and throughout the periods being reported upon. Certain of the estimates result from judgments that can be subjective
and complex and consequently actual results may differ from these estimates, which would be reflected in future periods. Material estimates
that are particularly susceptible to significant change in the near-term relate to the determination of the reserve for losses and loss
adjustment expenses (if any), which may include amounts estimated for claims incurred but not yet reported. The Company uses various
assumptions and actuarial data it believes to be reasonable under the circumstances to make these estimates. Although considerable variability
is likely to be inherent in these estimates, management believes that the amounts provided are reasonable. These estimates are continually
reviewed and adjusted if necessary. Such adjustments are reflected in current operations.

    F-7

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES 

Notes
to Consolidated Financial Statements, Continued

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Revenue
Recognition

SurancePlus
incentive, technology, origination and management (“ITOM”) fee income represents fee income related to the completion of
the SurancePlus’ CatRe tokenized reinsurance securities as well as placement of the underlying insurance policies. The Company
recognizes the associated revenue at the time of the placement of the underlying insurance policies as the performance obligation is
satisfied at that time.

Cash
and cash equivalents: Cash and cash equivalents are comprised of cash and short- term investments with original maturities of
three months or less.

Restricted
cash and cash equivalents: Restricted cash and cash equivalents