Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 42

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 12
Chunk 42
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    At December 31, 
  
    (in thousands) 
    2024  
    2023 
  
    2024 
    $-  
    $9 
  
    2025 
     114  
     - 
  
    2026 
     39  
     - 
  
    2027 
     6  
     - 
  
    Total future minimum lease payments 
    $159  
    $9 

    Less imputed interest 
     (11) 
     - 
  
    Total operating lease liabilities 
    $148  
    $9 

    F-27

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

15.
RELATED PARTY TRANSACTIONS

EpsilonCat
Re Tokens

During
the year ended December 31, 2024, Mr. Jay Madhu, a director and officer of the Company and its subsidiaries, entered into subscription
agreement to purchase a total of 9,245 Series Epsilon Cat Re tokens at a purchase price of $10.00 per token for aggregate gross proceeds
of $92,447. Ownership of EpsilonCat Re tokenized reinsurance securities indirectly conferred fractionalized interests in reinsurance contracts
underwritten by Oxbridge Re NS for the 2024-2025 treaty year.

TypTap
Insurance Company (“TypTap”) Contract

During
the year ended December 31, 2024 the Company entered into a reinsurance agreement with TypTap, an insurance subsidiary of HCI Group,
Inc. (“HCI”). Jay Madhu, our Chairman and Chief Executive Officer, also serves as a non-employee director of HCI.
Pursuant to the agreement, we have agreed to indemnify HCI and TypTap for a portion of reinstatement premium which HCI or TypTap
pays or becomes liable to pay to reinstate reinsurance protection. At December 31, 2024 and 2023, included within premium
receivable, deferred acquisition costs and unearned premiums on the consolidated balance sheets are amounts equal to $447,000,
$46,000 and
$418,000
(2023: $489,000, $50,000 and $458,000) respectively, relating to the reinsurance agreement with TypTap. During the years ended
December 31, 2024 and 2023, included within assumed premiums