Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 737

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 3
Chunk 737
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 its ability to pay dividends
to us and include a minimum net worth requirement. Currently, the minimum net worth requirement for each subsidiary is $500. As of December
31, 2024, each subsidiary exceeded the minimum required. By law, each subsidiary is restricted from paying a dividend if such a dividend
would cause its net worth to drop to less than the required minimum.

37

Cash
Flows

Our
cash flows from operating, investing, and financing activities for the years ended December 31, 2024 and 2023 are summarized below.

Cash
Flows for the Year ended December 31, 2024 (in thousands)

Net cash used in operating activities for the year ended December 31, 2024
totaled $1,232, which consisted primarily of cash received on net written premiums less cash disbursed for operating expenses. Net cash
provided by investing activities of $780 which is due proceeds from sale of equity securities, as well as proceeds from redemption of
investment in note receivable and Series A-1 Preferred Stock from Jet.AI. Net cash provided by financing activities was $2,600 which consisted
of net proceeds from EpsilonCat Re and proceeds from the issuance of ordinary shares through the Company’s ATM facility.

Cash
Flows for the Year ended December 31, 2023 (in thousands)

Net
cash used in operating activities for the year ended December 31, 2023 totaled $1,260, which consisted primarily of cash received on
net written premiums less cash disbursed for operating expenses. Net cash used in investing activities of $105 which due mainly to investment
in note receivable from Jet.AI. Net cash provided by financing activities was $1,182 which consisted primarily of net proceeds from Delta
Cat Re Tokens offset by the partial redemption payment made to noteholders.

OFF-BALANCE
SHEET ARRANGEMENTS

As
of December 31, 2024, we had no off-balance sheet arrangements as defined in Item 303(a)(4) of Regulation S-K.

Exposure
to Catastrophes

As
with other reinsurers, our operating results and financial condition could be adversely affected by volatile and unpredictable natural
and man-made disasters, such as hurricanes, windstorms, earthquakes, floods, fires, riots and explosions, and particularly to weather
events in the State of Florida. Although we attempt to limit our exposure to levels, we believe are acceptable, it is possible that an
actual