Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 121

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 121
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 Re Tokens. These fees are included in SurancePlus fees income line
item in the consolidated statement of operations.

28

Expenses

Our
expenses consist primarily of the following:

    ●
    losses
    and loss adjustment expenses;

    ●
    policy
    acquisition costs and underwriting expenses; and

    ●
    general
    and administrative expenses.

Loss
and Loss Adjustment Expenses

Loss
and loss 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.

29

RESULTS
OF OPERATIONS

The
following is our consolidated statement of operations
and performance ratios for the three- and six-month periods ended June 30, 2025 and 2024 (dollars in thousands, except per share
amounts):

    Three Months Ended  June, 30  
    Six Months Ended  June 30, 

    2025  
    2024  
    2025  
    2024 

    Revenue 

    Assumed premiums 
    $2,222  
    $2,379  
    $2,222  
    $2,379 
  
    Change in unearned premiums reserve 
     (1,640) 
     (1,815) 
     (1,046) 
     (1,266)

    Net premiums earned 
     582  
     564  
     1,176  
     1,113 
  
    SurancePlus management fee income 
     1  
     312