Oxbridge Re (OXBR) Q1 2026 earnings summary

Executive summary

• Achieved strong business performance in Q1 2026, with continued execution of a disciplined, data-driven underwriting strategy and growth in book value per share.

• SurancePlus platform expanded, with tokenized reinsurance offerings such as Balanced-Yield and High-Yield tokens outperforming or on track for 25% and 42% targeted returns, respectively.

• Strategic partnerships with Solana, Alphaledger, and LayerZero enhanced blockchain interoperability and ecosystem reach, expanding access to tokenized reinsurance and real-world asset opportunities.

• Focus remains on fully collateralized property and casualty reinsurance, primarily in the Gulf Coast region, and expansion into tokenized reinsurance securities via SurancePlus.

• SurancePlus completed multiple private placements of tokenized participation shares, raising capital for reinsurance contracts.

Financial highlights

• Net premiums earned for Q1 2026 were $555,000, down from $595,000 in Q1 2025 due to lower weighted average rates.

• Total revenue for Q1 2026 was $623,000, down from $692,000 in Q1 2025.

• Net income for Q1 2026 was $22,000, reversing a net loss of $139,000 in Q1 2025, driven by lower underwriting income allocation to tokenholders and reduced unrealized losses.

• Cash and cash equivalents, including restricted, increased by $1.21 million to $8.19 million as of March 31, 2026, aided by premium deposits and a $1 million short-term loan.

• No losses or loss adjustment expenses were incurred during the quarter.

Outlook and guidance

• Preparing T20 and T42 tokenized offerings for the 2026-2027 cycle, targeting annual returns of 20% and 42%, respectively.

• Anticipates a more constructive hurricane environment for the upcoming underwriting cycle, supported by El Niño and below-average storm forecasts.

• Exploring expansion of tokenization into data center revenue streams and AI-aligned infrastructure, with a focus on scaling RWA initiatives and advancing tokenized asset opportunities.

• Management expects to fund operations through operating cash flows, ATM equity sales, and short-term loans.