Oxbridge Re Holdings Ltd (NASDAQ: OXBR) is a Cayman Islands-based reinsurance company that underwrites property and casualty reinsurance contracts, with a secondary business in Web3-focused tokenization of real-world assets (RWA). The company earns revenue primarily through premiums assumed on reinsurance treaties, collateralized by capital the company deploys, plus investment income on its portfolio. A subsidiary, SurancePlus Inc., has issued blockchain-based tokens (T42, T20, ZetaCat Re, EtaCat Re, EpsilonCat Re, DeltaCat Re) for participation in reinsurance contracts underwritten by its Oxbridge Re NS subsidiary, generating limited management fees as of the 10-K filed March 30, 2026. The RWA tokenization business had not produced revenue from third-party assets as of that filing date. Oxbridge Re operated with four full-time employees as of March 26, 2026, with plans to outsource specialist functions. Results are seasonal, with hurricane and tropical storm exposure concentrated in the June 1 through November 30 period each year.

Revenue model

Premiums assumed on property and casualty reinsurance treaties, investment income on collateral and portfolio assets, and limited management fees from blockchain token issuances through SurancePlus Inc. (as of 10-K filed March 30, 2026). No third-party RWA tokenization revenue had been earned as of that date.

Products and services

Property and casualty reinsurance contracts underwritten through reinsurance subsidiaries including Oxbridge Re NS. Blockchain-based participation tokens issued through SurancePlus Inc., including the T42, T20, ZetaCat Re, EtaCat Re, EpsilonCat Re, and DeltaCat Re token offerings, representing interests in reinsurance contracts.

Customers and end markets

Ceding insurers (cedents) operating in property and casualty insurance, primarily exposed to Gulf Coast and Southeast U.S. hurricane and catastrophe risk based on the seasonal storm window disclosed in the filing. End market demand is driven by catastrophe reinsurance capacity needs.

Value-chain role

Reinsurance capacity provider sitting between primary insurers (cedents) and capital markets. Collateralizes reinsurance treaties with its own capital and, through SurancePlus Inc., channels third-party capital via tokenized instruments. Claims are managed internally, with outside counsel retained where appropriate.

Geographic exposure

Incorporated and regulated in the Cayman Islands under the Cayman Islands Monetary Authority (CIMA). Reinsurance exposure is concentrated in U.S. property catastrophe risk given the June-through-November hurricane season disclosure. No additional geographic revenue breakdown disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-03-30

Industry: Fire, Marine & Casualty Insurance Peers: Greenlight Capital Re Ltd