Company: OXBRW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009673
Chunk: 10

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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    Performance ratios to net premiums earned:

    Loss ratio 
     0.0% 
     0.0%
  
    Acquisition cost ratio 
     10.9% 
     10.9%
  
    Expense ratio 
     95.8% 
     99.8%
  
    Combined ratio 
     95.8% 
     99.8%

General. Net loss
for the quarter ended March 31, 2025 was $139,000, or ($0.02) basic and diluted earnings per share compared to a net loss of $905,000,
or ($0.15) basic and diluted earnings per share, for the quarter ended March 31, 2024. The decrease in net loss is primarily due to the
positive change in the fair value of equity securities and sale of investments in Jet.AI during the quarter ended March 31, 2025 when
compared with the prior period.

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 quarter ended March 31, 2025 increased to $595,000 from $549,000 for the quarter ended March 31, 2024. The increase
is due to the rates on contracts that were in force in the quarter ended March 31, 2025 when compared to the contracts in force in the period-year period.

Losses Incurred.
There were no losses incurred during the three-month periods ending March 31, 2025 and 2024.

30

Policy Acquisition Costs.
Acquisition costs represent the amortization of the brokerage fees and federal excise taxes incurred on reinsurance contracts placed.
Policy acquisition costs for the quarter ended March 31, 2025 increased to $65,000 from $60,000 for the quarter ended March 31, 2024.
The increase is due to the rates on contracts in force in the quarter ended March 31, 2025, and the resulting acquisition costs, when compared to the rates on contracts in the prior-year period.

General
and Administrative Expenses. General and administrative expenses for the quarter ended March 31, 2025 increased to $505,000,
from $488,000 for the quarter ended March 31, 2024. The increase is primarily due to the value stock-based compensation incurred
during the three-month period ending March 31, 2025 as a result of