Source: Oxbridge Re Holdings Limited
Oxbridge Re Holdings Limited (NASDAQ: OXBR), a provider of reinsurance solutions to property and casualty insurers primarily in the Gulf Coast region of the United States, has reported that its new wholly-owned reinsurance sidecar subsidiary, Oxbridge Re NS, recently reported it’s successful licensing with the assistance of Maples FS, under the jurisdiction of the Cayman Islands Monetary Authority (“CIMA”). The new reinsurance subsidiary subsequently issued Series 2018-1 Participating Notes due June 1, 2021 in a private placement and deployed an initial $2.0 million of capital into a quota-share reinsurance agreement with Oxbridge Reinsurance Limited.
“We are happy to report the successful licensing of Oxbridge Re NS, and deployment of capital,” said Jay Madhu chairman and chief executive officer of Oxbridge Re.
About Oxbridge Re Holdings Limited
Oxbridge Re (www.oxbridgere.com) is 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 Oxbridge’s licensed reinsurance subsidiary, Oxbridge Reinsurance Limited, together with its new Oxbridge Re NS sidecar subsidiary, it writes fully collateralized policies to cover property losses from specified catastrophes. Oxbridge intends to specialize in underwriting medium frequency, high severity risks, where it believes sufficient data exists to analyze effectively the risk/return profile of reinsurance contracts. The company’s ordinary shares and warrants trade on the NASDAQ Capital Market under the symbols “OXBR” and “OXBRW,” respectively. The company’s ordinary shares are included in the Russell Microcap Index.
Oxbridge Re Holdings Limited
Jay Madhu, CEO
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