Oxbridge Re has reported financial results for the first quarter ended March 31, 2025.
Net premiums earned for the quarter totaled $595,000, up from $549,000 in the same period last year. The increase was attributed to the contract rates in effect during the current quarter compared to the previous year.
The company posted a net loss of $139,000, or ($0.02) per basic and diluted share, for the quarter, compared to a net loss of $905,000, or ($0.15) per share, in the first quarter of 2024. The reduction in loss was primarily due to gains from changes in the fair value of equity securities and the sale of investments in Jet.AI.
Total expenses rose to $570,000 from $548,000 year over year. The increase reflected stock-based compensation linked to a higher share price on the grant date during the period.
Restricted cash and cash equivalents rose to $9.6 million as of March 31, 2025, up from $5.9 million at year-end 2024. The increase was mainly due to premium deposits and the completion of a registered direct offering that raised $2.7 million net of expenses.
The company’s net losses continue to narrow, with Oxbridge Re previously reporting a net loss of $540,000, or $(0.09) per share, for Q3 2024.
Jay Madhu (pictured above), chairman and CEO of Oxbridge Re, said the company, through its subsidiary SurancePlus, is expanding access to reinsurance through tokenized securities and remains committed to transparency and compliance.
Oxbridge Re recently signed a memorandum of understanding with Plume, a blockchain platform managing over $4.5 billion in assets and serving 18 million unique addresses. The agreement aims to expand distribution capabilities. The company also indicated it is evaluating additional partnership opportunities.
The company has also notably participated in several blockchain and tokenization events, including Consensus 2024 in Austin, Token2049 in Singapore, and Token2049 in Dubai.
“Supported by a strong balance sheet and a disciplined approach, we are well-positioned to capitalize on emerging opportunities in the RWA sector,” Madhu said.
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