earnings
confidence high
sentiment negative
materiality 0.50
Oxbridge Re posts Q1 net loss of $387K on unrealized investment losses; premiums rise
OXBRIDGE RE HOLDINGS Ltd
2022-Q1 EPS reported
-$0.07
- Net loss of $387K ($0.07 per share) vs $28K loss in Q1 2021, driven by negative unrealized change in investments.
- Net premiums earned increased 16% to $210K from $181K on higher average rates on contracts in force.
- No underwriting losses incurred; loss ratio remained 0% for the quarter.
- Combined ratio worsened to 171.9% from 150.3% due to higher personnel and other expenses.
- Cash and equivalents $5.1M; total investments rose $188K; OXAC investment noted.