Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 103

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 period ended June 30, 2025, the combined ratio increased to 355.5%, from 105.7% for the
six-month period ended June 30, 2024.. The increase is due to higher general and administrative expenses and the losses incurred during
the three-month and six-month periods ended June 30, 2025, when compared with the prior comparable periods.

FINANCIAL
CONDITION –JUNE 30, 2025 COMPARED TO DECEMBER 31, 2024

Restricted
Cash and Cash Equivalents. As of June 30, 2025, our restricted cash and cash equivalents increased by $760,000 or 12.90%, to
$6.7 million, from $5.9 million as of December 31, 2024. The increase is the net result of premium deposits made during the
six-months ending June 30, 2025, the registered direct offering that generated $2.7 million net of expenses, and payment of Hurricane Milton losses and general administrative
expenses.

Investments.
As of June 30, 2025, our total investments decreased by $9,000 or 7.96% to $104,000, from $113,000 as of December 31, 2024. The decrease
is primarily a result of the decrease in value of the equity securities during the six-month period ended June 30, 2025.

Notes
Payable to Noteholders. As of June 30, 2025, our notes payable remained at $118,000 as there were no redemptions during the period.

Mezannine
Equity – EpsilonCat Re / DeltaCat Re / ZetaCat Re and EtaCat Re Tokenholders. As of June 30, 2025, amounts due to
CatRe tokenholders decreased to $1.2 million from $1.73 million at December 31, 2024. The decrease is due to the tokenholders share
in the limit loss experienced on one of our reinsurance contracts affected by Hurricane Milton.

Unearned
Premiums Reserve. As of June 30, 2025, our unearned premiums reserve increased by $1.04 million, to $2.03 million from $991,000
at December 31, 2024. The increase is due to the new reinsurance contracts placed for the 2025 2026 treaty year.

31

LIQUID