Oxbridge Re Holdings Limited

Good afternoon. Welcome to Oxbridge REES Second Quarter 2022 Earnings Call. My name is Laura 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 Renzen Timothy. Following their remarks, we will open the call up for your questions. I would like to remind everyone that this call is also being broadcast live and available replay until August 29, 2022 on the Investor Information section of the Oxbridge RE website at www.oxbridgefree.com. 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.

Thank you, Alberto. 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 and 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. A detailed discussion of the risks and uncertainties that can cause actual results and events that differ materially from such forward-looking statements is included in the section entitled Risk Factors, contained in our 10-K file in March 2022 and on our Form 10-Q file today with the Securities and Exchange Commission. The occurrence of any of these risks and uncertainties can have a material adverse effect on the company's business, financial condition, and the volatility of our earnings, which in turn can cause significant market price and trading volume fluctuations for our securities. 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 change. Now I'd like to send a call over to our Chairman, President, and Chief Executive Officer, Jay Madhu.

Jay? Thank you, Rendon, and welcome, everyone. Thank you for joining us today. Before we start, I would like to take a moment to provide a brief overview of our company. Oxbridge Reholdings Limited was founded over nine 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 because we write fully collateralized contracts, we believe we can compete efficiently with large carriers. We specialize in underwriting low-frequency, high-severity risk where we believe sufficient data exists to efficiently analyze a 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 will deploy our capital when favorable return opportunities arise that can contribute to growth of capital and surplus in our licensed reinsurance subsidiaries over time. Clearly, the current volatility being experienced in the global financial markets is impacting our investment portfolio with unrealized losses for the first six months of 2022. However, with recent positive trends in the market, our modest portfolio seems to have made somewhat of a comeback. And since the portfolio takes a mark to market, hopefully those gains will reflect in the next quarter release. As previously communicated, we are also pleased to have completed our investment in Oxbridge Acquisition Corp. in early August of last year, a special purpose acquisition company, or SPAC, focusing on disruptive technology. We believe innovators and entrepreneurs in such businesses as DeFi, blockchain, insurtech, artificial intelligence, and clean energy offer real and significant opportunity to build value in our investors over long term. We look forward to keeping you updated on this progress. With the negative impact of the last two years of a COVID-19 pandemic finally receding, economies and businesses around the world now are faced with inflationary cost pressures and supply chain disruptions. These in turn have resulted in significant declines over the last few months in equity and capital markets around the world. And while our business is not generally impacted by these economic challenges, The equity market declines do have an impact on our net income due to unrealized losses in our equity portfolio, as Rendon will shortly outline. Having said this, we will continue to stay in close touch with our markets and the insurance industry to ensure we continue to deliver value to our shareholders. Over the long term, we remain highly optimistic about the prospects of our core reinsurance business, our investment in the SPAC or Oxbridge Acquisition Corp, and the modest comeback of the equity markets. In effect, which are the effect of which are being seen positively in our investment portfolio. I'll now turn things over to Rendon to take us through our financial results. Rendon?