Oxbridge Re Holdings Ltd. Q3 FY2024 earnings call

• In December 2022, established SurancePlus to tokenize securities. - In Q2 2023, concluded initial offering of Delta CatRe on Avalanche blockchain, which exceeded initial projections despite Hurricane Idalia. - SurancePlus completed private placement of over $2.9 million via Digital Token EpsilonCat Re. - Oxbridge Re Holdings initiated strategic review process for company and SurancePlus, considering alternatives like sale, spin-off, merger, etc. - SurancePlus partnered with Zoniqx to enhance RWA tokenization and Web3 capabilities.

For the quarter ended September 30, 2024, net premiums earned were $595,000 compared to $549,000 in Q3 2023. For the first nine months of 2024, net premiums earned were $1.7 million, up from $730,000 in the same period 2023. Reinsurance business had a loss ratio of 0% in both 2024 and 2023. Acquisition cost ratio for Q3 2024 was 11.1% (up from 10.9% in Q3 2023) and 11% for 1-9 months 2024 (up from 10.9% in 1-9 months 2023). Expense ratio for Q3 2024 decreased to 83.7% from 125.3% in Q3 2023, and for 1-9 months 2024, it decreased to 19% from 244.3% in 1-9 months 2023. Combined ratio for Q3 2024 was 83.7% (down from 125.3% in Q3 2023) and for 1-9 months 2024, it was 90% (down from 44.3% in 1-9 months 2023). SurancePlus contributed management fee income. Investment portfolio decreased, cash and cash equivalents increased.

• Oxbridge Re Holdings has a strategic review process forming a special committee to consider strategic alternatives for the company and SurancePlus. - Anticipate providing further updates on progress during next call.

• Forward-looking statements are subject to various risks and uncertainties detailed in Form 10-K and 10-Q, which could materially affect business, financial condition, and earnings volatility.

Q: How are you all being received on the presentations abroad and who are your competitors in the RWA space?

A: The presentations were viewed exceedingly well. In the RWA space, there are competitors, but Oxbridge Re stands out due to having PCOB audited financials on SurancePlus and strict SEC adherence.

Q: Your immediate reaction to earnings report is positive on bid and offering sides. Any comment?

A: Thank you, Kent. Appreciate it.