Company: OXBRW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009673
Chunk: 7

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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 the Securities Act of 1933, as amended (the “Securities
Act”), in reliance on Section 4(a)(2) thereof as a transaction not involving a public offering and/or Rule 506 of Regulation D promulgated
thereunder. The Company has agreed to file a registration statement providing for the resale by the Investors of the ordinary shares issuable
upon exercise of the Warrants within 60 days of the date of the Securities Purchase Agreement.

The Company held an annual meeting on May 8, 2025, and shareholders
approved the issuance of the ordinary shares underlying the Series B Warrants at the combined effective offering price of $4.25 pursuant
to applicable Nasdaq rules.

The Company paid the Placement Agent a cash fee of
6.0% of the gross proceeds from the Offering and reimburse the Placement Agent for its expenses, including the reimbursement of legal
fees up to an aggregate of $45,000.

27

PRINCIPAL REVENUE AND EXPENSE ITEMS

Revenues

We derive our most significant
revenues from three principal sources:

    ●
    premiums assumed from reinsurance on property and casualty business;

    ●
    income from investments and unrealized (loss) gain on other investments;

    ●
    income from SurancePlus management fees.

Premiums Assumed

Premiums assumed include all premiums
received by a reinsurance company during a specified accounting period, even if the policy provides coverage beyond the end of the period.
Premiums are earned over the term of the related policies. At the end of each accounting period, the portion of the premiums that are
not yet earned are included in the unearned premiums reserve and are realized as revenue in subsequent periods over the remaining term
of the policy. Our policies typically have a term of twelve months. Thus, for example, for a policy that is written on July 1, 2024, typically
one-half of the premiums will be earned in 2024 and the other half will be earned during 2025. However, in the event of limit losses on
our policies, premium recognition will be accelerated to match losses incurred in the period, when there is no possibility of any future
treaty-year losses under the contracts.

Premiums from reinsurance on property
and casualty business assumed are directly related to the number, type and pricing of contracts we write.

Premiums assumed are recorded
net of change in loss experience refund, which consists of changes in amounts due to the c