Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 126

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 126
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30, 2024. The increases are primarily due to
increased professional costs relating to investor relations and our web3 subsidiary marketing and operations, renewed S-3 related
costs, increased human resources and personnel costs and legal expenditures during the quarter ended June 30, 2025, when compared
with the prior comparable periods.

Combined
Ratio. We use the combined ratio to measure our underwriting performance. The combined ratio is the sum of the loss ratio and
the expense ratio. For the three-month period ended June 30, 2025, the combined ratio increased to 621%, from 111.3% for the three-month
period ended June 30, 2024. For the six-month period ended June 30, 2025, the combined ratio increased to 355.5%, from 105.7% for the
six-month period ended June 30, 2024.. The increase is due to higher general and administrative expenses and the losses incurred during
the three-month and six-month periods ended June 30, 2025, when compared with the prior comparable periods.

FINANCIAL
CONDITION –JUNE 30, 2025 COMPARED TO DECEMBER 31, 2024

Restricted
Cash and Cash Equivalents. As of June 30, 2025, our restricted cash and cash equivalents increased by $760,000 or 12.90%, to
$6.7 million, from $5.9 million as of December 31, 2024. The increase is the net result of premium deposits made during the
six-months ending June 30, 2025, the registered direct offering that generated $2.7 million net of expenses, and payment of Hurricane Milton losses and general administrative
expenses.

Investments.
As of June 30, 2025, our total investments decreased by $9,000 or 7.96% to $104,000, from $113,000 as of December 31, 2024. The decrease
is primarily a result of the decrease in value of the equity securities during the six-month period ended June 30, 2025.

Notes
Payable to Noteholders. As of June 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