OXBRW · Oxbridge Re Holdings Limited

Oxbridge Re Holdings Limited reported a net income of $22,000 for the first quarter of 2026, a significant improvement from a net loss of $139,000 in the same period last year. The turnaround was primarily driven by a decreased allocation of underwriting income to tokenholders, as the company itself was the major contributor to the 2025/26 treaty contracts. Net premiums earned declined to $555,000 from $595,000 due to a lower weighted average rate on reinsurance contracts in force. Total expenses increased to $583,000 from $570,000, mainly due to higher professional costs for investor relations and web3 subsidiary marketing. The expense ratio rose to 105% from 95.8%, and the combined ratio also increased to 105% from 95.8%, reflecting the higher costs. The loss ratio remained at 0% as no losses were incurred. On the balance sheet, cash and restricted cash grew to $8.19 million from $6.98 million at year-end 2025, supported by premium deposits and $1 million in loan proceeds. The company highlighted strong performance of its SurancePlus tokenized reinsurance offerings: the Balanced Yield Token (EtaCat Re) is now expected to achieve a 25% return (up from a 20% target), and the High Yield Token (ZetaCat Re) remains on track for a 42% return. Management expressed optimism about the upcoming 2026-2027 underwriting cycle, citing favorable hurricane season forecasts and continued ecosystem development with Solana, Alphaledger, and LayerZero. The company is also exploring tokenized data center revenue streams and AI infrastructure as new asset categories. CEO Jay Madhu commented on the strong contract performance and platform growth, positioning the company well for the next cycle.