Oxbridge Re Holdings Limited

Good afternoon. Welcome to the Oxbridge-Rees fourth quarter and year-end 2020 earnings call. My name is John, and I will be your conference operator this afternoon. At this time, all participants will be in a listen-only mode. Joining us for today's presentation is Oxbridge-Rees Chairman, President, and Chief Executive Officer, Jay Madhu, and Chief Financial Officer and Corporate Secretary, Rendon Timothy. Following their remarks, we will open the call for your questions. I would like to remind everyone that this call is also being broadcast live via webcast and available via webcast replay until Wednesday, March 30, 2022. on the investor information section of the Oxbridge Re website at www.oxbridge.com. Now I would like to turn the call over to Rendon Timothy, Chief Financial Officer of Oxbridge Re, who will provide the necessary cautions regarding the forward-looking statements that will be made by management during this call. Sir, please go ahead.

Thank you, operator. During today's call, there will be forward-looking statements made regarding future events. including Oxford Re's future financial performance. These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as anticipates, estimates, expects, intends, plans, projects, 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 on this conference call speak only as of the date of this conference call and except as required by law. The company undertakes no obligation to update any forward-looking statements contained on this call or in any company presentation, even if the company's expectations or any related events, conditions, or circumstances changes. In addition, on March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic. The disruption of global commercial activities across all market sectors and the significant declines on volatility in financial markets as a result of the COVID-19 pandemic could result in a material adverse impact on our financial position, results of operations and cash flows. Possible effects may include but are not limited to uncertainties with respect to current and future losses, reduction in interest rates, equity market volatility, and ongoing business and financial market impacts of an economic downturn. The insurance industry is likely to experience material losses resulted from COVID-19 which will reduce available capital and we expect will continue to sustain the upward pricing trend for insurers that we were seeing across many lines of business before COVID-19. However, the ultimate impact on current business in force, as well as risk and potential opportunities on future business remains highly uncertain. Now I'd like to turn the call over to our Chairman, President and Chief Executive Officer, Jay Madhu. Jay.

Thank you, Brendan, and welcome everyone. Thank you for joining us today. It has been a full year since COVID-19 pandemic began affecting so many lives and businesses around the world. Our goal over the past year was to ensure the health and safety of our employees and our community and to ensure the resilience of the continuation of our business. Fortunately, the pandemic has little or no impact on our business. However, we continue to monitor the markets and the insurance industry in general to ensure we continue to derive value to our shareholders. As we do each quarter, before we get into our results, I would like to take a moment to provide a brief overview of our company. Oxridge Reholdings Limited was founded over seven years ago with a mission to provide reinsurance solutions primarily to property and casualty insurers in the Gulf Coast region of the United States. Through our licensed reinsurance subsidiary, Oxbridge Reinsurance Limited, and our licensed reinsurance sidecar, Oxbridge ReNS, we write fully collateralized policies to cover property losses from specific catastrophes. And as some of you already know, because we write fully collateralized contracts, we can compete effectively with large carriers. We specialize in underwriting low-frequency, high-severity risks, where we believe sufficient data exists to efficiently analyze their risk-return profile of our reinsurance contracts. Our objective is to achieve long-term growth in book value per share by writing business on a selective and opportunistic basis that will generate attractive underwriting profits relative to risk. Regarding our investment portfolio, we remain opportunistic and will deploy our capital when favorable return opportunities arise, which we believe will in turn drive our results to a supplemental investment income. focus and top priority remains on profitable underwriting. We also generated a significant increase in net income for the fourth quarter of the year, building momentum as we entered 2021. In addition, we continue to make progress on our reinsurance sidecar, Oxbridge ReNS. For contract year ended May 31st, 2020, our sidecar investors earned an attractive return of approximately 36%. So far this year, we are on track to deliver investors in our series 2020-1 participating notes ending May 31st of 2021 with projected returns between 24% to 40%. I'll now turn it over to Rendon and take us through our financial results.