Oxbridge Re Q1 net loss $905K vs net income $142K; premiums earned $549K

OXBRIDGE RE HOLDINGS Ltd

2024-Q1 EPS reported -$0.15 revenue$-125,000

Net loss of $905K (($0.15) per share) vs net income $142K ($0.02) in Q1 2023.
Net premiums earned $549K (up from $0); total expenses $548K vs $404K.
Cash and equivalents $4.3M at March 31, 2024 vs $3.7M at Dec 31, 2023.
Combined ratio 99.8% (up from 0%) due to higher expenses.
CEO highlights inaugural Tokenized Reinsurance Securities and >45% returns on Delta CatRe tokens.

item 2.02 item 9.01

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 March 31, 2024 results: revenue $549,000, net income net loss of $905,000, EPS ($0.15) per basic and diluted common share.

Period: the three months ended March 31, 2024
Revenue: $549,000
Net income: net loss of $905,000
EPS: ($0.15) per basic and diluted common share
Result: reported results

Exact text from the filing

For the three months ended March 31, 2024, the Company generated a net loss of $905,000 or ($0.15) per basic and diluted common share compared to a net income of $142,000 or $0.02 per basic and diluted common share in the first quarter of 2023. The decrease is primarily due to the negative change in the fair value of equity securities and investments during the quarter ended March 31, 2024 when compared with the prior period. 1 Net premiums earned for the three months ended March 31, 2024 increased to $549,000 from $0 in the prior year’s first quarter .

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Source: SEC EDGAR

accession 0001493152-24-018421

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