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Oxbridge Highlights Growth in Tokenized Reinsurance, Strategic Partnerships, and Reports Q2 2025 Results

1. OXBR reported higher net premiums but increased losses due to Hurricane Milton. 2. Partnerships with Plume and Midnight Foundation enhance growth and market position. 3. New tokenized reinsurance products target high annual returns for investors. 4. Financial ratios indicate worsening underwriting performance amid rising expenses. 5. Company focuses on transparency and strategic growth initiatives moving forward.

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Why Bearish?

Despite strategic initiatives, increased net loss and combined ratio may concern investors.

How important is it?

Current financial losses and operational metrics are significant factors for investor outlook.

Why Short Term?

Immediate financial results and losses likely to impact investor sentiment soon.

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NASDAQ: PLUMEIOGCARDANO
GRAND CAYMAN, Cayman Islands, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs), together with its subsidiary SurancePlus, today reported its results for the quarter and six-month period ended June 30, 2025. “The quarter marked a pivotal moment for Oxbridge and SurancePlus. We have not only expanded our footprint in the rapidly growing tokenized reinsurance market but also forged strategic partnerships that position us for accelerated growth. As the first Nasdaq-listed company to issue a tokenized reinsurance security, we are proving that innovation and compliance can go hand-in-hand, creating new opportunities for investors and setting a high standard for the industry. We have scheduled an Extraordinary General Meeting to approve measures that will accelerate our strategy and strengthen our leadership. These initiatives, combined with our focus on transparency, position us to capture significant growth opportunities in the quarters ahead,” said Jay Madhu, Chairman and CEO of Oxbridge.  Building on the Company’s Memorandum of Understanding (MOU) with Plume last quarter, a leading Real-World Asset (RWA) platform with institutional-grade tokenization infrastructure and a proven track record in scaling compliant blockchain solutions, the Company announced a strategic partnership with the Midnight Foundation. The Midnight Foundation supports ecosystem growth and enterprise adoption for the Midnight Network, a privacy-focused blockchain built by Shielded Technologies, a subsidiary of Input Output Global (IOG), the firm behind Cardano. These alliances expand SurancePlus’s reach, strengthen distribution capabilities, and position the platform at the forefront of blockchain-enabled RWA innovation.  SurancePlus is also highlighting its launched 2025–2026 tokenized reinsurance offerings, which provide a diverse range of investment opportunities within the $750 billion reinsurance market, a sector historically uncorrelated to broader capital markets. These offerings include a balanced-yield product targeting a 20% annual return and a high-yield product targeting a 42% annual return. Together, they broaden the investor base by delivering compliant, blockchain-powered pathways into a large, traditionally inaccessible asset class.  This year, the Company has been an active participant and sponsor at leading Blockchain and RWA events globally, including iConnections in Miami, ETHDenver 2025 and RWA Day in Denver, Apex Invest 2025 in the Cayman Islands, Token2049 in Dubai, Money20/20 Europe in Amsterdam, Permissionless IV and Yield Day NYC in New York, EthCC in Cannes, and Rare Evo 2025 in Las Vegas. These forums provided an opportunity to showcase SurancePlus, strengthen industry relationships, sign new partnerships, and explore collaborative opportunities with leading blockchain platforms. Financial Performance Net premiums earned for the quarter ended June 30, 2025 increased to $582,000 from $564,000 for the quarter ended June 30, 2024. Net premiums earned for the six-months ended June 30, 2025 increased to $1.18 million from $1.11 million for the quarter ended June 30, 2024. The increases are due to the higher rates on contracts that were in force in the three and six-month periods ended June 30, 2025 when compared to the contracts in force in the prior-year periods.  Net loss for the quarter ended June 30, 2025 was $1.87 million, or ($0.25) basic and diluted loss per share compared to a net loss of $821,000, or ($0.14) basic and diluted loss per share, for the quarter ended June 30, 2024. Net loss for the six-months ended June 30, 2025 was $2.01 million, or ($0.28) basic and diluted loss per share compared to a net loss of $1.73 million, or ($0.29) basic and diluted loss per share, for the six months ended June 30, 2024. The increases in net loss are primarily due to the adverse development and loss recognition from Hurricane Milton on one of our reinsurance contracts during the three and six-month periods ended June 30, 2025, when compared with the prior periods. For the quarter ended June 30, 2025, total expenses, comprising of loss and loss adjustment expenses, policy acquisition costs and general and administrative expenses, increased to $3.61 million from $628,000 for the quarter ended June 30, 2024. For the six months ended June 30, 2025, total expenses, increased to $4.18 million from $1.18 million for the six months ended June 30, 2024. The increases are primarily due to the adverse development and loss recognition from Hurricane Milton, coupled with increased human resources and personnel costs, professional marketing and IR costs, our web3 subsidiary tokenization costs, renewed S-3 related costs and legal expenditures, when compared with the prior-year periods. As of June 30, 2025, our restricted cash and cash equivalents increased by $760,000 or 12.90%, to $6.7 million, from $5.9 million as of December 31, 2024. The increase is primarily the net result of premium deposits made during the six-months ending June 30, 2025, the registered direct offering that generated $2.7 million net of expenses and the payment of underwriting losses and general expenses. Financial Ratios Loss Ratio. The loss ratio is the ratio of losses and loss adjustment expenses incurred to premiums earned and measures the underwriting profitability of our reinsurance business. The loss ratio increased to 394% and 194.8% for the quarter and six-month periods ended June 30, 2025, when compared with the prior comparative periods. This was due to the full limit loss of $2.29 million on one of our reinsurance contracts affected by Hurricane Milton. The net impact of the Hurricane Milton’s loss on the Company’s equity, after accounting for the portion of losses borne by external tokenholders’, was $1.18 million. Acquisition Cost Ratio. The acquisition cost ratio is the ratio of policy acquisition costs and other underwriting expenses to net premiums earned. The acquisition cost ratio measures our operational efficiency in producing, underwriting and administering our reinsurance business. The acquisition cost ratio remained consistent at 11.0% for the quarter end and six-month periods ended June 30, 2025 compared with the quarter and six-month periods ended June 30, 2024. Expense Ratio. The expense ratio is the ratio of policy acquisition costs and general and administrative expenses to net premiums earned. We use the expense ratio to measure our operating performance. For the three-month period ended June 30, 2025, the expense ratio increased to 227%, from 111.3% for the three-month period ended June 30, 2024. For the six-month period ended June 30, 2025, the expense ratio increased to 160.7%, from 105.7% for the six-month period ended June 30, 2024. The increases are primarily due to increased professional costs relating to investor relations and our web3 subsidiary marketing and operations, renewed S-3 related costs, increased human resources and personnel costs and legal expenditures during the quarter ended June 30, 2025, when compared with the prior comparable periods. Combined ratio. We use the combined ratio to measure our underwriting performance. The combined ratio is the sum of the loss ratio and the expense ratio. For the three-month period ended June 30, 2025, the combined ratio increased to 621%, from 111.3% for the three-month period ended June 30, 2024. For the six-month period ended June 30, 2025, the combined ratio increased to 355.5%, from 105.7% for the six-month period ended June 30, 2024.. The increase is due to higher general and administrative expenses and the losses incurred during the three-month and six-month periods ended June 30, 2025, when compared with the prior comparable periods. Conference Call Management will host a conference call later today to discuss these financial results, followed by a question and answer session. President and Chief Executive Officer Jay Madhu and Chief Financial Officer Wrendon Timothy will host the call starting at 4:30 p.m. Eastern time. The live presentation can be accessed by dialing the number below or by clicking the webcast link available on the Investor Information section of the company’s website at www.oxbridgere.com. Date: August 14, 2025Time: 4.30 p.m. Eastern timeToll-free number: 877-524-8416International number: +1 412-902-1028 Please call the conference telephone number 15 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact InComm Conferencing at +1-201-493-6280 media@incommconferencing.com A replay of the call will be available by telephone after 4:30 p.m. Eastern time on the same day of the call until August 28, 2025. Toll-free replay number: 877-660-6853International replay number: +1-201-612-7415Conference ID: 13755289 About Oxbridge Re Holdings Limited Oxbridge Re Holdings Limited (www.OxbridgeRe.com) (NASDAQ: OXBR, OXBRW) (“Oxbridge Re”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries Oxbridge Reinsurance Limited, Oxbridge Re NS, and SurancePlus Inc. Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS. Our new Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors. Forward-Looking Statements This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather 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 Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2025. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change. Company Contact: Oxbridge Re Holdings LimitedJay Madhu, CEO345-749-7570jmadhu@oxbridgere.com OXBRIDGE RE HOLDINGS LIMITED AND SUBSIDIARIESConsolidated Balance Sheets(expressed in thousands of U.S. Dollars, except per share and share amounts)   AtJune 30, 2025  AtDecember 31, 2024        Assets        Investments:        Equity securities, at fair value (cost: $1,532 and $1532) $104   113 Total investments        Cash and cash equivalents  3,870   2,135 Restricted cash and cash equivalents  2,783   3,758 Accrued interest and dividend receivable  -   - Premiums receivable  1,977   1,059 Other Investments  -   48 Deferred policy acquisition costs  224   109 Operating lease right-of-use assets  96   148 Prepayment and other assets  117   94 Property and equipment, net  1   1 Total assets $9,172   7,465          Liabilities and Shareholders’ Equity        Liabilities:        Reserve for losses and loss adjustment expenses  175   - Notes payable to noteholders  118   118 Unearned Premium Reserve  2,037   991 Operating lease liabilities  96   148 Accounts payable and other liabilities  259   366 Total liabilities  2,685   1,623          Mezzanine Equity        Due to EpsilonCat Re / DeltaCat Re / ZetaCat Re / EtaCat Re Tokenholders  1,206   1,732          Shareholders’ equity:        Ordinary share capital, (par value $0.001, 50,000,000 shares authorized; 7,442,922 and 6,379,002 shares issued and outstanding)  6   6 Additional paid-in capital  37,405   34,105 Accumulated Deficit  (32,071)                             (30,163)Total Oxbridge shareholders’ equity  5,340   3,948 Non-controlling interests  (59)  162 Total shareholders’ equity  5,281   4,110 Total liabilities and shareholders’ equity $9,172   7,465  OXBRIDGE RE HOLDINGS LIMITED AND SUBSIDIARIESConsolidated Statements of Operations(Unaudited)(expressed in thousands of U.S. Dollars, except per share amounts)   Three Months Ended June, 30  Six Months Ended June 30,   2025  2024  2024  2023              Revenue                Assumed premiums  2,222   2,379   2,222   2,379 Change in unearned premiums reserve  (1,640)  (1,815)  (1,046)  (1,266)                 Net premiums earned  582   564   1,176   1,113 SurancePlus management fee income  1   312   1   312 Net investment and other income  93   65   173   126 Interest and gain on redemption of loan receivable  -   -   -   41 Unrealized (loss) gain on other investments  -   (825)  (20)  (1,513)Realized gain on other investments  -   -   35   - Change in fair value of equity securities  (12)  (72)  (9)  (160)                 Total revenue  664   44   1,356   (81)                 Expenses                Losses and loss adjustment expenses  2,293   -   2,293   - Policy acquisition costs and underwriting expenses  64   62   129   122 General and administrative expenses  1,257   566   1,762   1,054                  Total expenses  3,614   628   4,184   1,176                  Loss before loss (income) attributable to tokenholders and non-controlling interests  (2,950)  (584)  (2,828)  (1,257)                 Loss (income) attributable to tokenholders  946   (237)  699   (469)                 Loss before loss attributable to non-controlling interests  (2,004)  (821)  (2,129)  (1,726)                 Loss attributable to non-controlling interests  131   -   117   -                  Net loss attributable to ordinary shareholders  $(1,873) $ (821)  $(2,012)  $(1,726)                 Loss per share attributable to ordinary shareholders                Basic and Diluted  $(0.25)  $(0.14)  $(0.28)  $(0.29)                 Performance ratios to net premiums earned:                Loss ratio  394.0%  0.0%  194.8%  0.0%Acquisition cost ratio  11.0%  11.0%  11.0%  11.0%Expense ratio  227.0%  111.3%  160.7%  105.7%Combined ratio  621.0%  111.3%  355.5%  105.7%

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