Oxbridge Re Holdings Limited (OXBR) |
|
Price: $1.1300
$0.07
6.604%
|
Day's High:
| $1.21
| Week Perf:
| 14.14 %
|
Day's Low: |
$ 1.10 |
30 Day Perf: |
10.78 % |
Volume (M): |
32 |
52 Wk High: |
$ 2.41 |
Volume (M$): |
$ 36 |
52 Wk Avg: |
$1.32 |
Open: |
$1.14 |
52 Wk Low: |
$0.87 |
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Market Capitalization (Millions $) |
0 |
Shares
Outstanding (Millions) |
0 |
Employees |
2 |
Revenues (TTM) (Millions $) |
- |
Net Income (TTM) (Millions $) |
-7 |
Cash Flow (TTM) (Millions $) |
-1 |
Capital Exp. (TTM) (Millions $) |
0 |
Oxbridge Re Holdings Limited
We are a Cayman Islands exempted company that was organized in April 2013
to provide reinsurance business solutions primarily to property and casualty
insurers in the Gulf Coast region of the United States. Through our licensed
reinsurance subsidiary, Oxbridge Reinsurance Limited, we write fully collateralized
policies to cover property losses from specified catastrophes. We specialize
in underwriting medium frequency, high severity risks, where we believe sufficient
data exists to analyze effectively the risk/return profile of reinsurance contracts.
Our goal is to achieve attractive risk-adjusted returns for our shareholders
through the prudent management of underwriting risks relative to our capital
base. To achieve this objective, the following are the principal elements of
our business strategy.
Maintain a Commitment to Disciplined Underwriting. We employ a disciplined and
data-driven underwriting approach to select a diversified portfolio of risks
that we believe will generate an attractive return to our shareholders over
the long term. Neither our underwriting nor our investment strategies are designed
to generate smooth or predictable quarterly earnings, but rather to optimize
growth in book value per share over the long term.
Focus on Risk Management. We treat risk management as an integral part of our
underwriting and business management processes. All of our reinsurance contracts
contain loss limitation provisions that limit our losses to the value of the
assets collateralizing our reinsurance contracts.
Partial Deployment of Capital. In order to eliminate the possibility of complete
losses, we intend to place only a portion of our total capital at risk in any
single year. This means that we expect lower returns than some of our competitors
in years where there are lower than average catastrophe losses but that our
capital will be better protected in the event of large losses. We are committed
to maintaining our capitalization and financial strength over the long term
and to developing a history of paying a consistent dividend on our ordinary
shares.
Take Advantage of Market Opportunities. Although our business is initially focused
on catastrophe coverage for Gulf Coast insurers with an emphasis on Florida,
we intend to continuously evaluate various market opportunities in which our
business may be strategically or financially expanded or enhanced in the future.
Such opportunities could take the form of further diversifying our business
into other geographic or market areas, could include quota share reinsurance
contracts, joint ventures, renewal rights transactions, corporate acquisitions
of other insurers or reinsurers, or the formation of insurance or reinsurance
platforms in new markets. We believe the environment in the reinsurance and
insurance markets will continue to produce opportunities for us, either through
organic expansion, through acquisitions, or a combination of both.
Reinsurance is an arrangement in which an insurance company, referred to as
the reinsurer, agrees to assume from another insurance company, referred to
as the ceding company or cedant, all or a portion of the insurance risks that
the ceding company has underwritten under one or more insurance contracts. In
return, the reinsurer receives a premium for the insured risks that it assumes
from the ceding company, although reinsurance does not discharge the ceding
company from its liabilities to policyholders. It is standard industry practice
for primary insurers to reinsure portions of their insurance risks with other
insurance companies under reinsurance agreements or contracts. This permits
primary insurers to underwrite policies in amounts larger than the risks they
are willing to retain. Reinsurance is generally designed to:
Reduce the ceding company’s net liability on individual risks, thereby
assisting it in managing its risk profile and increasing its capacity to underwrite
business as well as increasing the limit to which it can underwrite on a single
risk;
assist the ceding company in meeting applicable regulatory and rating agency
capital requirements;
assist the ceding company in reducing the short-term financial impact of sales
and other acquisition costs; and
enhance the ceding company’s financial strength and statutory capital.
When reinsurance companies purchase reinsurance to cover their own risks assumed
from ceding companies, this is known as retrocessional reinsurance. Reinsurance
or retrocessional reinsurance can benefit a ceding company or reinsuring company,
referred to herein as a “retrocedant,” as applicable, in various
ways, such as by reducing exposure to individual risks and by providing catastrophe
protection from larger or multiple losses. Like ceding companies, retrocedants
can use retrocessional reinsurance to manage their overall risk profile or to
create additional underwriting capacity, allowing them to accept larger risks
or to write more business than would otherwise be possible, absent an increase
in their capital or surplus.
Reinsurance contracts do not discharge ceding companies from their obligations
to policyholders. Ceding companies therefore generally require their reinsurers
to have, and to maintain, either a strong financial strength rating or security,
in the form of collateral, as assurance that their claims will be paid.
Insurers generally purchase multiple tranches of reinsurance protection above
an initial retention elected by the insurer. The amount of reinsurance protection
purchased by an insurer is typically determined by the insurer through both
quantitative and qualitative methods. In the event of losses, the amount of
loss that exceeds the amount of reinsurance protection purchased is retained
by the insurer. As a program is constructed from the ground up, each tranche
added generally has a lower probability of loss than the prior tranche and therefore
is generally subject to a lower reinsurance premium charged for the reinsurance
protection purchased. Insurer catastrophe programs are typically supported by
multiple reinsurers per program.
Reinsurance brokers play an important role in the reinsurance market. Brokers
are intermediaries that assist the ceding company in structuring a particular
reinsurance program and in negotiating and placing risks with third-party reinsurers.
In this capacity, the broker is selected and retained by the ceding company
on a contract-by-contract basis, rather than by the reinsurer. Though brokers
are not parties to reinsurance contracts, reinsurers generally receive premium
payments from brokers rather than ceding companies, and reinsurers that do not
provide collateralized reinsurance are frequently required to pay amounts owed
on claims under their policies to brokers. These brokers, in turn, pay these
amounts to the ceding companies that have reinsured a portion of their liabilities
with reinsurers.
Property reinsurance products are often written in the form of treaty reinsurance
contracts, which are contractual arrangements that provide for the automatic
reinsurance of a type or category of risk underwritten. Treaty reinsurance premiums,
which are typically due in installments, are a function of the number and type
of contracts written, as well as prevailing market prices. The timing of premiums
written varies by line of business. The majority of property catastrophe business
is written at the January and June annual renewal periods, depending on the
type and location of the risks covered. Most hurricane and wind-storm coverage,
particularly in the Gulf Coast region of the United States, is written at the
June annual renewal periods.
Property catastrophe reinsurance contracts are typically “all risk”
in nature, providing protection to the ceding company against losses from hurricanes
and other natural and man-made catastrophes such as floods, earthquakes, tornadoes,
storms and fires, referred to herein collectively as “perils.” The
predominant exposures covered by these contracts are losses stemming from property
damage and business interruption resulting from a covered peril. Coverage can
also vary from “all natural” perils, which is the most expansive
form, to more limited types such as windstorm-only coverage.
Property catastrophe reinsurance contracts are typically written on an “excess-of-loss”
basis, which provides coverage to the ceding company when aggregate claims and
claim expenses from a single occurrence for a covered peril exceed an amount
that is specified in a particular contract. The coverage provided under excess-of-loss
reinsurance contracts may be on a worldwide basis or may be limited in scope
to specific regions or geographical areas. Under these contracts, protection
is provided to an insurer for a portion of the total losses in excess of a specified
loss amount, up to a maximum amount per loss specified in the contract.
Excess-of-loss contracts are typically written on a losses-occurring basis,
which means that they cover losses that occur during the contract term, regardless
of when the underlying policies came into force. Premiums from excess-of-loss
contracts are earned ratably over the contract term, which is ordinarily 12
months. Most excess-of-loss contracts provide for a reinstatement of coverage
following a covered loss event in return for an additional premium.
Company Address: Suite 201 Grand Cayman 0
Company Phone Number: 749-7570 Stock Exchange / Ticker: OXBR
OXBR is expected to report next financial results on March 29, 2024. |
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Customers Net Income fell by |
OXBR's Customers Net Profit Margin grew to |
-8.56 % |
6.74 %
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Stock Performances by Major Competitors |
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Oxbridge Re Holdings Limited
Oxbridge Re Holdings Limited, a renowned reinsurance firm, has recently reported its earnings for the third quarter of 2023. These earnings have displayed a significant turnaround for the company, as it has shifted from a loss to a profit, posting a remarkable EPS (earnings per share) of $1.24. This is in stark contrast to the same period last year when the company reported a loss of $0.37 per share. Moreover, Oxbridge Re Holdings Limited had also realized a net deficit of $-7.300 million for the third quarter of 2023, which, although higher than the previous year's $-2.157 million, should not overshadow the positive results in terms of EPS. Additionally, the company's accounts receivable have declined slightly to $0.1 million from the previous quarter, while still remaining higher than the same period last year.
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Oxbridge Re Holdings Limited
Oxbridge Re Holdings Limited, a Property & Casualty Insurance company, may have slipped into a deficit in the second quarter of 2023, but its recent performance suggests that this is just a temporary setback. Despite the deficit, the company's revenue has surged by an impressive 37.376% to $0.69 million compared to the same period last year. In fact, Oxbridge Re Holdings Limited has outshone its industry contemporaries, with the rest of the Property & Casualty Insurance industry only experiencing a 21.58% increase in revenue during the same time frame. Looking at the company's previous reporting period, Oxbridge Re Holdings Limited achieved revenue of $0.55 million and $0.02 per share. It is important to note that the recent deficit of $-0.085 million is a deviation from the company's break-even status in the corresponding reporting period a year ago. However, this setback should not be seen as a cause for concern, as the build-up in accounts receivable suggests a rising demand for the company's services. With accounts receivables valued at $0.1 million, Oxbridge Re Holdings Limited is well-positioned to capitalize on this increasing demand.
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Oxbridge Re Holdings Limited
Oxbridge Re Holdings Limited, a Property & Casualty Insurance company, has seen a significant turnaround in profitability in the fiscal first quarter of 2023. The company displayed an EPS of $0.02 per share, marking a drastic improvement compared to the $-1.23 per share in the year-ago quarter. In the prior quarter, the company had realized a negative EPS of $-0.37 per share. Furthermore, the company's revenue exhibited a positive shift from $-0.70 million in the prior quarter, and the income per share also turned positive, a result of Oxbridge Re Holdings Limited recording earnings of $0.142 million in the financial span ending March 31, 2023, which is a significant improvement compared to the net deficit of $-7.076 million in the same quarter a year ago.
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Per Share |
Current |
Earnings (TTM) |
1.37 $ |
Revenues (TTM) |
-
|
Cash Flow (TTM) |
- |
Cash |
306.8 $
|
Book Value |
1353.95 $
|
Dividend (TTM) |
0 $ |
|
Per Share |
|
Earnings (TTM) |
1.37 $
|
Revenues (TTM) |
- |
Cash Flow (TTM) |
- |
Cash |
306.8 $
|
Book Value |
1353.95 $ |
Dividend (TTM) |
0 $ |
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