Oxbridge Re reports Q4 net income $678k, full-year net loss $1.8M; SPAC deal and token offering announced

OXBRIDGE RE HOLDINGS Ltd

Q4 net income $678k ($0.12 EPS) vs $1.6M ($0.27) prior year; full year net loss $1.8M ($0.31) vs income $8.6M ($1.49).
Net premiums earned Q4 nil vs $210k; full year $995k vs $965k.
Loss ratio 107.8% vs 16.4% due to Hurricane Ian; combined ratio 260.9% vs 162.6%.
SPAC Oxbridge Acquisition filed business combination with Jet Token; expected close late Q2 2023; Oxbridge Re holds $14.26M in Class B shares plus warrants.
SurancePlus offering up to $5M DeltaCat Re Tokens at $10 each; expected 196% return over three years if no losses.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OXBRIDGE RE HOLDINGS Ltd reported the three months ended December 31, 2022 results: net income $678,000, EPS $0.12 per basic and diluted earnings per share.

Period: the three months ended December 31, 2022
Net income: $678,000
EPS: $0.12 per basic and diluted earnings per share
Result: reported results

Exact text from the filing

For the three months ended December 31, 2022 the Company generated net income of $678,000 or $0.12 per basic and diluted earnings per share

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OXBRIDGE RE HOLDINGS Ltd reported the year ended December 31, 2022 results: net income net loss of $1.8 million, EPS ($0.31) per basic and diluted loss per share.

Period: the year ended December 31, 2022
Net income: net loss of $1.8 million
EPS: ($0.31) per basic and diluted loss per share
Result: reported results

Exact text from the filing

For the year ended December 31, 2022 the Company incurred a net loss of $1.8 million or ($0.31) per basic and diluted loss per share

View on SEC.gov

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Source: SEC EDGAR

accession 0001493152-23-009728

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