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EXHIBIT 99.1 Oxbridge Re Holdings Limited Reports Strong Performance for First Nine Months of 2021 GRAND CAYMAN , CAYMAN ISLANDS / ACCESSWIRE / November 12 , 2021 / Oxbridge Re Holdings Limited ( NASDAQ : OXBR ) , ( the " Company " ) , a provider of reinsurance solutions primarily to property and casualty insurers , reported improved results for the three and nine months ended September 30 , 2021 . 2021 HIGHLIGHTS : Net income of $ 6.5 million ( $ 1.14 per share ) in third quarter Investment in Oxbridge Acquisition Corp. ( " OXAC " ) formed to invest in disruptive technology markets , with a particular focus on blockchain , insurtech and artificial intelligence sectors . Unrealized gain of $ 7.1 million on completion of OXAC Initial Public Offering on August 11 , 2021 . Premium income rises on acceleration of premium recognition on reinsurance contract due to limit loss in third quarter Loss incurred of $ 158,000 on one contract due to impact of Hurricane Ida in third quarter Sidecar investors in Series 2021-1 participating notes earn approximately 17 % return " During the quarter , we were pleased to have completed our investment in Oxbridge Acquisition Corp. , a Special Purpose Acquisition Company ( " SPAC " ) formed for investing in disruptive technologies businesses . Operationally , our core reinsurance business remains . Additionally , despite a record breaking 2020 hurricane season , our sidecar investors earned approximately 17 % return for the contract year end of May 31 , 2021 , " said Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu . " Looking ahead , we remain highly optimistic about the long - term prospects for our core reinsurance business , our sidecar , and the investment in the SPAC . " Financial Performance For the three months ended September 30 , 2021 the Company generated net income of $ 6.5 million or $ 1.14 per basic and diluted common share compared a loss of $ ( 33,000 ) or $ ( 0.01 ) per basic and diluted common share in the third quarter of 2020. For the nine months ended September 30 , 2021 , net income was approximately $ 7 million or $ 1.22 per basic and diluted common share compared with a net loss of $ ( 232,000 ) or $ ( 0.04 ) per basic and diluted common share in the same period last year . The significant gain in net income during the quarter is primarily due to the estimated unrealized gain of $ 7.1 million on the Company's beneficial interest in OXAC that is measured at fair value . Net premiums earned for the three months ended September 30 , 2021 increased to $ 370,000 from $ 247,000 in the prior year . For the first nine months of 2021 net premiums earned increased to $ 755,000 from $ 646,000 in the prior year . The increases are due to the triggering of a limit loss on one of the Company's reinsurance contracts due to the impact of Hurricane Ida on its book of business , thus accelerating premium recognition under such contract . Total expenses , including policy acquisition costs and general and administrative expenses were $ 479,000 in the third quarter of 2021 compared to $ 266,000 in the third quarter of 2020. For the first nine months of 2021 total expenses were $ 1.1 million compared to $ 838,000 last year . The increases are due primarily to losses incurred during the period ended September 30 , 2021 as a result of Hurricane Ida , when compared to the prior year . At September 30 , 2021 , cash and cash equivalents , and restricted cash and cash equivalents , totaled $ 5.6 million compared with $ 7.5 million at December 31 , 2020. Restricted cash and cash equivalents decreased at September 30 , 2021 due to the net result of the withdrawal of collateral on expiry of contract , and the deposit of collateral for new treaty period during the nine months ended September 30 , 2021 . Solid Financial Ratios Loss Ratio . The loss ratio , which measures underwriting profitability , is the ratio of losses and loss adjustment expenses incurred to net premiums earned . For the three and nine months ended September 30 , 2021 and 2020 the loss ratio increased to 42.7 % and 20.9 % , respectively , compared to 0.0 % in the comparable prior year periods . The increases were due to the limit losses suffered on one of the Company's reinsurance contracts as a result of Hurricane Ida , partially offset by a higher denominator in net premiums earned , compared with the previous periods . Acquisition Cost Ratio . The acquisition cost ratio , which measures operational efficiency , compares policy acquisition costs with net premiums earned . The acquisition cost ratio changed marginally to 11.1 % and 10.9 % for the three and nine months ended September 30 , 2021 , from 11.0 % and 11.0 % last year . The marginal changes are not considered material . Expense Ratio . The expense ratio , which measures operating performance , compares policy acquisition costs and general and administrative expenses with net premiums earned . The expense ratio decreased to 86.8 % and 122.9 % for the three and nine months ended September 30 , 2021 from 107.7 % and 129.7 % for the same periods last year . The decrease is due to a higher denominator in net premiums earned due to premium acceleration , partially offset by increased policy acquisition costs and general and administrative expenses in the current year . Combined ratio . The combined ratio , which is used to measure underwriting performance , is the sum of the loss ratio and the expense ratio . The combined ratio increased to 129.5 % and 143.8 % for the three and nine months ended September 30 , 2021 from 107.7 % and 129.7 % in the comparable prior year periods . The increase is primarily due to the increase in loss ratio during the nine - month period ending September 30 , 2021 as a result of limit loss suffered under one of the Company's reinsurance contracts , when compared with the prior year . Conference Call Management will host a conference call later today to discuss these financial results , followed by a question and answer session . President and Chief Executive Officer Jay Madhu and Chief Financial Officer Wrendon Timothy will host the call starting at 4:30 p.m. Eastern time . The live presentation can be accessed by dialing the number below or by clicking the webcast link available on the Investor Information section of the company's website at www.oxbridgere.com .