GRAND CAYMAN, Cayman Islands, May 13, 2014 (BUSINESS WIRE) — Oxbridge Re Holdings Limited (NASDAQ: OXBR ), a provider of reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, has reported financial results for the first quarter ended March 31, 2014.

First Quarter 2014 – Highlights

Net income totaled $393,000 or $0.28 diluted earnings per common share.

Net earned premiums were $648,000.

Policy and acquisition costs totaled $43,000, while general and administrative expenses totaled $212,000.

The company raised $26.9 million in net proceeds from its initial public offering on March 26, 2014, and subsequently began trading on the NASDAQ Capital Market.

At quarter-end, the company had $37.3 million of cash and cash equivalents and restricted cash and equivalents.

First Quarter 2014 – Financial Ratios

The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to premiums earned. There were no losses incurred during the first quarter resulting in a loss ratio of 0.0%.

The acquisition cost ratio , which measures operational efficiency, compares policy acquisition costs and other underwriting expenses to net premiums earned. The acquisition cost ratio for the quarter was 6.6%.

The expense ratio , which measures operating performance, compares policy acquisition costs, other underwriting expenses and other administrative expenses to net premiums earned. The expense ratio for the quarter was 39.4%.

The combined ratio, which is used to measure underwriting performance, is the sum of the loss ratio and the expense ratio. If the combined ratio is at or above 100%, underwriting is not profitable. The combined ratio for the first quarter was 39.4%.

Management Commentary

“We are encouraged by our results for our first quarter completed as a public company,” said Jay Madhu, CEO of Oxbridge Re Holdings Limited. “We believe we are well positioned to build on the momentum established to-date and look forward to continued growth through 2014 and beyond.”

About Oxbridge Re Holdings Limited

Oxbridge ( www.oxbridgere.com ) is a Cayman Islands exempted company that was organized in April 2013 to provide reinsurance business solutions primarily to property and casualty insurers in the Gulf Coast region of the United States. Through Oxbridge’s licensed reinsurance subsidiary, Oxbridge Reinsurance Limited, it writes fully collateralized policies to cover property losses from specified catastrophes. Oxbridge intends to specialize in underwriting medium frequency, high severity risks, where it believes sufficient data exists to analyze effectively the risk/return profile of reinsurance contracts. The company’s ordinary shares and warrants trade on the NASDAQ Capital Market under the symbols “ OXBR ” and “ OXBRW ,” respectively.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.