Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 426

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 426
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 and Oxbridge Re NS met the requirements
for being a “qualified insurance corporation” for the years after 2021. For years prior to 2021, we also believe that
each of those corporations met the requirement of being predominantly engaged in an insurance business. Accordingly, we believe that
we have not been a PFIC during 2024 or prior years. We do not have an expectation, however, as to whether or not we may be a PFIC in
years after 2024. If you are a United States person, we urge you to consult your own tax advisor concerning the potential tax consequences
to you under the PFIC rules.

We
may be treated as a CFC and may be subject to the rules for related person insurance income, and in either case this may subject a U.S.
holder of our ordinary shares to disadvantageous rules under U.S. federal income tax laws.

Controlled
Foreign Corporation. United States persons who, directly or constructively through attribution rules, own 10% or more of the voting
power or value of our ordinary shares, which we refer to as United States 10% shareholders, may be subject to the controlled foreign
corporation, or CFC, rules. Under the controlled foreign corporation rules of the Code, each United States 10% shareholder must annually
include his pro rata share of the controlled foreign corporation’s ‘‘Subpart F income,’’ even if no distributions
are made. In general, a foreign insurance company will be treated as a controlled foreign corporation only if United States 10% shareholders
collectively own, directly or constructively, more than 25% of the total combined voting power or total value of the company’s
shares. If you are a United States person we urge you to consult your own tax advisor concerning the controlled foreign corporation rules.
We believe that certain United States persons may be deemed to own, directly or constructively (including through the ownership of warrants),
10% or more of the voting power or value of our ordinary shares, and we believe that those United States persons collectively own, directly
or constructively, more than 25% of the voting power or value of our ordinary shares.

Related
Person Insurance Income. A different definition of CFC is applicable in the case of a foreign corporation which earns “related
person insurance income” (“RPII”). RPII is a Code Subpart F insurance income attributable to insurance policies or
reinsurance contracts where the person that is directly or indirectly