Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 436

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 436
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 participating notes issued by Oxbridge Re NS. These efforts culminated in the development, launch, and issuance of our
first tokenized reinsurance security, the DeltaCat Re Token, which we believe is the first “on-chain” reinsurance security
of its kind to be developed by a subsidiary of a public company. In 2024, we launched EpsilonCat Re and in 2025, we launched ZetaCat
Re and EtaCat Re, and we intend to develop, launch, and issue additional series of tokenized reinsurance securities representing fractional
interests in reinsurance contracts, and we are also using our tokenization experience and activities as a foundation for developing Web3-focused
business offerings and products relating to the tokenization of other RWAs, including RWAs held or being acquired by third parties. Our
tokenization business will be conducted through SurancePlus and through other subsidiaries of our 80% owned subsidiary, SurancePlus
Holdings Ltd. (“SurancePlus Holdings”), a Cayman Islands exempted company that we have organized to serve as a holding company
for subsidiaries that will operate our developing Web3-focused business operations.

In
our historical reinsurance business operations, we underwrite reinsurance contracts on a selective and opportunistic basis as opportunities
arise based on our goal of achieving favorable long-term returns on equity for our shareholders. Our goal is to achieve long-term growth
in book value per share by writing business that generates attractive underwriting profits relative to the risk we bear. Additionally,
we complement our underwriting profits with investment profits on an opportunistic basis. Our underwriting business focus is on fully
collateralized reinsurance contracts for property catastrophes, primarily in the Gulf Coast region of the United States, with an emphasis
on Florida. Within that market and risk category, we attempt to select the most economically attractive opportunities across a variety
of property and casualty insurers. As our capital base grows, however, we expect that we will consider further growth opportunities in
other geographic areas and risk categories.

Our
level of profitability in our historical reinsurance business is primarily determined by how adequately our premiums assumed and investment
income cover our costs and expenses, which consist primarily of acquisition costs and other underwriting expenses, claim payments and
general and administrative expenses. One factor leading to variation in our operational results is the timing and magnitude of any follow-on
offerings we undertake (if any), as we are able to deploy new capital to collateralize new reinsurance treaties and