Oxbridge Re Holdings Ltd ( (OXBR) ) has released its Q3 earnings. Here is a breakdown of the information Oxbridge Re Holdings Ltd presented to its investors.
Oxbridge Re Holdings Ltd, a Cayman Islands-based company, operates in the reinsurance sector, primarily offering property and casualty reinsurance solutions and leveraging blockchain technology for digital securities. In its latest earnings report, Oxbridge Re Holdings revealed a net loss of $2.27 million for the nine months ended September 30, 2024, compared to a loss of $7.24 million during the same period in 2023. The company experienced a decrease in total assets from $8.25 million at the end of 2023 to $7.32 million by September 2024, with significant unrealized losses on investments impacting its financial performance. Despite these challenges, Oxbridge Re Holdings increased its cash and cash equivalents to $4.82 million, reflecting strategic financing activities, including the issuance of EpsilonCat Re tokens. The company remains committed to exploring innovative reinsurance opportunities through its subsidiaries, as indicated by the recent private placements and the use of blockchain for tokenized securities. Looking ahead, Oxbridge Re Holdings aims to enhance its financial stability and continue leveraging technology to expand its reinsurance capacity, aligning with management’s strategic focus on innovation and growth in the reinsurance market.
