Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 29

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 29
---
  

    Granted 
     43,000  
    $2.25 
  
    Vested 
     (33,000) 
    $1.07 
  
    Forfeited 
     (12,000) 
    $2.25 
  
    Nonvested at September 30, 2025 
     42,662  

Compensation
expense recognized for the three and nine-month periods ended September 30, 2025 totaled $146,000
and $324,000,
respectively and is included in general and administrative expenses. At September 30, 2025, there was approximately $137,000
unrecognized compensation expense related to non-vested restricted stock granted under the Plan, which the Company expects to
recognize over a weighted-average period of five (5)
months.

12.
NET WORTH FOR REGULATORY PURPOSES

The
subsidiaries are subject to a minimum and prescribed capital requirement as established by CIMA. Under the terms of their respective
licenses, Oxbridge Reinsurance Limited and Oxbridge Re NS are required to maintain a minimum and prescribed capital requirement of $500
in accordance with the relevant subsidiary’s approved business plan filed with CIMA.

At
September 30, 2025, Oxbridge Reinsurance Limited’s net worth of $48,000 exceeded the minimum and prescribed capital requirement.
For the three-month periods ended September 30, 2025 and 2024, Oxbridge Reinsurance Limited’s net income and loss was approximately
$5,000 and $420,000, respectively.

At
September 30, 2025, the Oxbridge Re NS’ net worth of $522,000 exceeded the minimum and prescribed capital requirement. For the
three-month periods ended September 30, 2025 and 2024 the Oxbridge Re NS’ net income was approximately $62,000 and $32,000, respectively.

The
Subsidiaries are not required to prepare separate statutory financial statements for filing with CIMA, and there were no material differences
between the Subsidiaries’ GAAP capital, surplus and net (loss) income, and its statutory capital, surplus and net (loss) income
as of September 30, 2025 or for the period then ended.

    20

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements (unaudited)

September
30,