Oxbridge re holdings reports fourth quarter and full year 2021 results

Grand cayman, cayman islands / accesswire / march 30, 2022 / oxbridge re holdings limited (nasdaq:oxbr) , (the "company"), a provider of reinsurance solutions primarily to property and casualty insurers, reported strong performance for the year ended december 31, 2021. 2021 highlights: net income of $8.6 million ($1.49 per share), up from a loss of $0.01 per share in 2020 investment in a special purpose acquisition company, oxbridge acquisition corp. ("oxac") formed to invest in disruptive technology markets with a particular focus in the blockchain, insurtech and artificial intelligence sectors balance sheet remains strong, with cash and restricted cash of $5.4 million and no debt unrealized gain of $9.2 million on oxac due to fair value gains premium income rises on acceleration of premium recognition and higher contract rates overall profitable underwriting in 2021, despite loss suffered from hurricane ida current sidecar investors on track for another profitable contract year "our core reinsurance business remained strong through the year despite the 2021 atlantic hurricane season being the third most active atlantic hurricane season on record.
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