Oxbridge Re Holdings Limited

Good afternoon. Welcome to Oxbridge-Rees third quarter 2022 earnings call. My name is Taryn, 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 up the call for your questions. I would like to remind everyone that this call is also being broadcast live and available for replay until November 28, 2022, on the Investor Information section of the Oxbridge RE website at www.oxbridgeRE.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.

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. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled Risk Factors, contained in our Form 10Q filed on September 30, 2022, and our Form 10Q filed to deal with the Securities and Exchange Commission. The occurrence of any of these risk coincidences could 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 security. Any forward-looking statement 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 would like to turn the call over to 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. Oxford 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, Oxford Reinsurance Limited, and our licensed reinsurance sidecar, Oxford 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 effectively with large carriers. We specialize in underwriting low frequency, high severity risks, 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. As previously communicated, we are also very pleased to have completed our investment in Oxbridge Acquisition Corp in early August of last year. a special purpose acquisition company, or SPAC, focused on disruptive technology. We believe innovators and entrepreneurs in such disruptive businesses such as DeFi, blockchain, insurtech, and artificial intelligence, clean energy, offer a real and significant opportunity to build value for our investors over the long term. We look forward to keeping you updated on its progress. Regarding our investment portfolio, we remain opportunistic and will deploy our capital when favorable return opportunities arise that can contribute to the growth in 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 portfolios with unrealized losses so far in 2022. With the negative impact of the last two years under the COVID-19 pandemic fully receding, economies and business around the world now are faced with inflationary cost pressure 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 well as unrealized losses on our investment in the SPAC, as Brendan will shortly outline. Having said this, we 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 for our core reinsurance business and our investment in the SPAC or Oxbridge Acquisition Corp. The largest impact of our results in the third quarter of this year was the devastation caused by Hurricane Ian, which triggered limit losses on our reinsurance contracts. Our thoughts go out to all those affected by this catastrophic event. I'll now turn things over to Brendan to take us through our financial results.