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Company Contact : Oxbridge Re Holdings Limited Jay Madhu , CEO 345-749-7570 jmadhu@oxbridgere.com COXRE Oxbridge Re Holdings Limited Reports Improved Q1 2021 Results GRAND CAYMAN , Cayman Islands ( May 14 , 2021 ) -- Oxbridge Re Holdings Limited ( NASDAQ : OXBR ) , a provider of reinsurance solutions primarily to property and casualty insurers , reported improved results for the three months ended March 31 , 2021 . FIRST QUARTER 2021 HIGHLIGHTS : • Improved results due to positive change in fair value of equity securities . Net income of $ 28,000 compared to net loss of $ 364,000 last year . • No losses incurred in period . • Lower capital deployed compared to prior year . • Projected double - digit return for sidecar investors in Series 2020-1 participating notes " We fared well despite 2020 setting a record for being the most active hurricane season . In addition , our sidecar investors SPV investors are on track to receive a double digit return for the contract year ending May 31 , 2021 following an attractive 36 % return in the prior year , " said Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu . “ We remain positive about our long - term prospects and continue to evaluate new growth opportunities while further mitigating risk Financial Performance For the three months ended March 31 , 2021 the Company generated net income of $ 28,000 or $ 0.00 per basic and diluted common share compared to a net loss of $ 364,000 or a loss of $ 0.06 per basic and diluted common share in the first quarter of 2020. The significant improvement in the first quarter of 2021 was due primarily to the positive change in the fair value of equity securities compared to the depressed financial markets in the first quarter of the prior year resulting from the onset of the COVID - 19 pandemic . Net premiums earned for the three months ended March 31 , 2021 decreased marginally to $ 181,000 from $ 264,000 in the prior year due to lower capital deployed in the current year . Total expenses , including policy acquisition costs and underwriting expenses and general and administrative expenses were $ 272,000 in the first quarter of 2021 compared to $ 275,000 in the first quarter of 2020. Policy acquisition costs were lower due to lower capital deployed than in the prior year period . General and administrative costs were marginally lower compared to the prior year due to expense fluctuations .