Oxbridge Re Holdings Reports Potential Underwriting Losses in Connection with Hurricanes Helene and Milton

Oxbridge Re Holdings Limited (NASDAQ: OXBR) recently disclosed potential underwriting losses in a Current Report on Form 8-K. The losses are reportedly associated with Hurricanes Helene and Milton, which made landfall in Florida in September and October 2024.

As of the filing date of the Current Report, the company has not received any claims from its ceding insurers related to the hurricanes. While it is noted that the losses suffered by the ceding insurers may not have affected the reinsurance layers covered by the company, there remains a possibility of claims being made. Should claims arise, Oxbridge Re estimates a maximum potential impact on its capital as of December 31, 2024, to be around $1.7 million.

The details furnished in this Current Report fall under Item 7.01 Regulation FD Disclosure and are not to be considered as “filed” for the purposes of the Securities Exchange Act of 1934 or incorporated by reference in future filings, unless expressly stated otherwise.

The report includes forward-looking statements based on the Private Securities Litigation Reform Act of 1995, outlining possible risks and uncertainties that could lead to discrepancies between expected and actual results. These uncertainties encompass potential reinsurance losses related to Hurricanes Helene and Milton, alongside other risks highlighted in Oxbridge Re’s SEC filings.

For further information and a comprehensive analysis of risks, investors are encouraged to review Oxbridge Re’s filings with the SEC, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, available at www.sec.gov.

The form was signed by Wrendon Timothy, Chief Financial Officer and Secretary of Oxbridge Re Holdings Limited, on January 6, 2025. The company has retained a signed original of the Form 8-K for submission to the Securities and Exchange Commission upon request.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Oxbridge Re’s 8K filing here.

About Oxbridge Re

Oxbridge Re Holdings Limited, through its subsidiaries, provides specialty property and casualty reinsurance solutions. The company underwrites collateralized reinsurance contracts primarily for property and casualty insurance companies in the Gulf Coast region of the United States. It also issues reinsurance contracts through digital securities by blockchain technology.