The following is a summary of the Oxbridge Re Holdings Limited (OXBR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Increased cash and cash equivalents and restricted cash and cash equivalents to $4.3 million in Q1 2024.

• Recorded net premiums earned of $549,000 in Q1 2024 compared to no earnings in Q1 2023.

• Recorded a net loss of $905,000 or $0.15 per share for Q1 2024, compared to a net income of $0.02 per share in Q1 2023.

• Total revenues for Q1 2024 were negative $125,000 with a main contributing factor being an unrealized loss of $688,000 on investments.

• Decrease in investment portfolio to $284,000 due to sales of equity securities and a decrease in their fair value during Q1 2024.

Business Progress:

• Optimistic about its core reinsurance business and its new venture, SurancePlus, in the real-world asset (RWA) market.

• Successful initial token offering through a private placement, with projected returns for investors exceeding 45%.

• No losses recorded for the contracts in force for Q1 2024, which typically lasts from June 1 to May 31 of the following year.

• Planning a rebrand to become an RWA Web3-focused company with a potential expansion in the tokenized RWA market, which is expected to reach over $10 trillion.

More details: Oxbridge Re Holdings IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.