Oxbridge Re Holdings Ltd. Q1 FY2024 earnings call

• 2021年开始通过作为Oxbridge Acquisition Corp.的主要发起人涉足 disruptive technology，该SPAC专注于投资颠覆性技术。
• 2023年8月Jet.AI成功完成与SPAC的业务合并，并开始在纳斯达克证券交易所交易。
• 2020年成立SurancePlus Inc.，专注于Web3技术，提供代币化现实世界资产的再保险证券作为替代投资机会。
• 2022年12月成立SurancePlus，2023年第二季度通过240万美元的私募完成这些代币的初始发行。
• Delta CatRe代币的投资者有望获得超过45%的回报，超过最初预计的42%。
• 正在将Oxbridge重新定位为现实世界资产（RWA）Web3领域的重要参与者，预计未来十年代币化RWA市场将大幅扩张，估计超过10万亿美元，Blackrock等机构支持代币化。

Reinsurance Business: In the first quarter of 2024, net premiums earned were $549,000. Loss ratio was 0% for both 2024 and 2023 first quarters as there were no loss or loss adjustment expenses. Acquisition cost ratio increased to 10.9% for the 2024 first quarter from 0% in 2023, due to premiums earned and acquisition cost expensed. Expense ratio increased to 99.8% in 2024 first quarter from 0% in 2023, due to higher general and admin expenses and policy acquisition costs. Combined ratio was 99.8% in 2024 first quarter compared to 0% in 2023 first quarter. Jet.AI: Its interest is recognized at fair value in other investments on the balance sheet. The company operates in Software and Aviation segments. Software segment has CharterGPT app and Jet.AI operator platform. Aviation segment features jet aircraft fractions, etc. SurancePlus: Established in 2020, focuses on Web3 technology, offering tokenized reinsurance securities. In 2023 second quarter, completed initial offering of tokens through a $2.4 million private placement.

Forward-looking statements are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled Risk Factors contained in our 10-Q file on March 26, 2024. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company's business, financial condition and the volatility of our earnings, which in turn can cause significant market price and trading volume fluctuation for securities.

Q: The first RWA, has it closed yet? Have you already repaid that capital on the first tranche?

A: Yes. So the first one was last year. Those contracts were written June 1 of last year to May 31st of this year. That's a 1-year contract. They were written was it was based on a 3-year contract with a 1-year out. So the year hasn't finished. It's -- the contract year hasn't finished that is. So after the end of this month is when those monies would be due, which we are on track to paying a 45% return.