Oxbridge Re Holdings Limited

good afternoon welcome to oxbridge reese second quarter 2021 earnings call my name is rashawn 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 reese chairman president and chief executive officer jay madu and Chief Financial Officer and Corporate Secretary, Brenton Timothy. Following their remarks, we will open up 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 September 16, 2021, on the Investor Information section of the OxbridgeWe webcast at www.oxbridgewe.com. Now, I would like to turn the call over to Rendon Timothy, Chief Financial Officer of Oxbridge REIT, who will provide the necessary cautions regarding the forward-looking statements that will be made by management during this call. Sir, please proceed.

Thank you, Operator. During today's call, there will be forward-looking statements made regarding future events, including Oxbridge REIT'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 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 immaterial adverse effects on the company's business financial conditions 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 made on this call or in any company presentation, even if the company's expectations or any related events, conditions, or circumstances may change. 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 in volatility in financial markets as a result of the COVID-19 pandemic could have a material adverse impact on our financial position as a result 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 and equity market volatility, and ongoing business and financial market impact of an economic downturn. The insurance industry is likely to experience material losses resulted from COVID-19 and will reduce available capital and we expect will help to sustain the upward pricing trend for insurers that we have seen across many lines of businesses before COVID-19. However, the ultimate impact on current business in force, as well as risks and potential opportunities on future business remains highly uncertain. Now, I would like to turn the call over to our Chairman, President, and Chief Executive Officer, Jay Magid. Jay?

Thank you, Rendon, and welcome, everyone. Thank you for joining us today. Our industry continues to adapt to the COVID-19 pandemic, and it has for the last year and a half. And while vaccines are being deployed aggressively in most markets, we are not completely out of the woods yet. We continue to remain vigilant and cautious. Fortunately, the pandemic has little negative impact on our business. However, we continue to monitor our markets and the insurance industry in general to ensure we continue to deliver 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. Oxford Street Holdings Limited was founded over eight 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 special 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 risk, where we believe sufficient data exists to effectively analyze the risk-return profile of 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 deploy our capital when favorable return opportunities arise that can that can contribute to the growth capital and surplus of our licensed reinsurance subsidiaries over time. Today, we completed and closed on the initial public offering of Oxbridge Acquisition Corp., our special purpose acquisition company, or SPAC, to focus on acquiring entities and disruptive technologies. We believe innovators and entrepreneurs in such businesses, such as insurtech, blockchain, and artificial intelligence, offer a real and significant opportunity to build value for our investors over the long term. Turning to our results for the second quarter and first six months of 2021, we are pleased to report continued growth and progress. Revenues rose, net income increased, and our financial and operating ratios strengthened compared to last year. We have also incurred no losses to date this year or through last year. We look for this improved performance to continue throughout the balance of the year. In addition, we continue to make progress on our wholly owned subsidiary, Oxbridge ReNS, our reinsurance sidecar. For the contract year ended May 31st, 2021, our sidecar investors earned an attractive return of approximately 19%. We will continue to grow this aspect of our business to the balance of 2021 and the next contract year. I'll now turn over to Rendon to take us through our financial results.