Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 48

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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MBER 30, 2025 COMPARED TO DECEMBER 31, 2024

Restricted
Cash and Cash Equivalents. As of September 30, 2025, our restricted cash and cash equivalents increased by $1.28 million or
21.7%, to $7.18 million, from $5.9 million as of December 31, 2024. The increase is the net result of premium deposits made during
the nine-months ending September 30, 2025, the registered direct offering and ATM program that generated $3.5 million net of
expenses, and payment of Hurricane Milton losses and general administrative expenses.

Investments.
As of September 30, 2025, our total investments increased by $2,000 or 1.77% to $115,000, from $113,000 as of December 31, 2024.
The increase is primarily a result of the increase in value of the equity securities during the nine-month period ended September 30,
2025.

Notes
Payable to Noteholders. As of September 30, 2025, our notes payable remained at $118,000 as there were no redemptions during
the period.

Mezannine
Equity – EpsilonCat Re / DeltaCat Re / ZetaCat Re and EtaCat Re Tokenholders. As of September 30, 2025, amounts due to
CatRe tokenholders decreased to $1.2 million from $1.73 million at December 31, 2024. The decrease is due to the tokenholders share in
the limit loss experienced on one of our reinsurance contracts affected by Hurricane Milton.

Unearned
Premiums Reserve. As of September 30, 2025, our unearned premiums reserve increased by $490,000, to $1.48 million from $991,000
at December 31, 2024. The increase is due to the new reinsurance contracts placed for the 2025 2026 treaty year.

31

LIQUIDITY
AND CAPITAL RESOURCES

General

We
are organized as a holding company and provide administrative and management services to our subsidiaries. Our operations are conducted
through our reinsurance subsidiaries, Oxbridge Reinsurance Limited and Oxbridge Re NS and our web3 focused subsidiary SurancePlus Inc.
which underwrites risks associated with our property and casualty reinsurance programs as well as the tokenization of RWAs such as Reinsurance
contracts