Oxbridge Re Holdings Limited

Good afternoon, and welcome to Oxbridge-Reed's first quarter 2023 earnings call. My name is Camilla, and I will be your conference operator this afternoon. At this time, all participants are in a listen-only mode. Joining us for today's presentation is Oxbridge-Reed Chairman, President, and Chief Executive Officer, Jay Maru, and Chief Financial Officer and Corporate Secretary, Rendon Timothy. Following the 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 on the investor relations section of the Oxbridge RE website at www.oxbridgeRE.com. Now, I would like to turn the floor 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. Brendan, you may begin.

Thank you, Operator. During today's call, there will be forward-looking statements made regarding future events, including Oxford Reef's future financial performance. These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995. Rules such as anticipate, estimates, expects, intends, plans, projects, and other similar rules 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 ideal results and events differ materially from such forward-looking statements is included in the section entitled Risk Factors in our Form 10-K file on March 30, 2023, and our Form 10-K file today with the Securities and Exchange Commission. The occurrence of any of these risks and uncertainties 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 fluctuation for our securities. Any forward-looking statements made on this conference call speaks 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 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. Before we start, I would like to take a moment to provide a brief overview of our company. Oxfords Reholdings Limited was founded 10 years ago with a mission to provide reinsurance solutions primarily to property and casualty insurers in the Gulf Coast region of the United States. We are very proud to be celebrating our 10th anniversary this year. Through our licensed reinsurance subsidiary, Oxfords Reinsurance Limited, and our licensed reinsurance sidecar, Oxfords 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-serious 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. We diversified our business in 2021 by being the lead and the sponsor of Oxbridge Acquisition for a special purpose acquisition company or SPAC, focusing on investing in disruptive technologies. During the first quarter of 2023, Oxbridge Acquisitions announced its intention to form a business combination with Jet.ai Inc. The company develops software and offers fractional aircraft ownership its fleet of private aircraft and those of its operating partner. Jet AI operates along two segments, software and aviation. The software segment features a B2C Charter GPT app and the B2B Jet.AI operator platform. The Charter GPT app uses natural language processing and machine learning to improve the private jet booking experience. The Jet.ai operator platform offers a suite of standalone software products to enable FAA Part 135 charter providers to add revenue, maximize efficiency, and reduce environmental impact. The aviation segment features jet aircraft fractions, jet cards, off-seat charter management, and buyer's brokerage. The transaction is expected to close at the end of the second quarter of this year for SEC, pending SEC and OTSAC shareholder approvals. We also further diversified our business with the creation of our new Web3 subsidiary, Assurance Plus Inc. The company offers an alternative investment opportunity, leveraging key qualities of blockchain technology to create a well-designed digital security under SEC guidelines that have complete transparency and compliance. Assurance Plus commenced an offering of securitized tokens, which, assuming no losses, are expected to generate a potential return of approximately 42% a year. This new trust is an entry into the Web3 and digital security market, which puts real-world assets on the blockchain and opens an entirely new avenue of democratizing reinsurance and potentially other opportunities in the future. We are very excited about both of these new opportunities and look forward to keeping you appraised of their progress in the upcoming quarters. Regarding our investment portfolio, we remain opportunistic and will deploy our capital when favorable return opportunities arise. that can contribute to the growth of capital and surplus in our licensed reinsurance subsidiaries over time. Over the long term, we remain highly opportunistic about the prospects of our core reinsurance business and the two investments I commented on earlier in Oxbridge Acquisitions as well as Insurance Plus. I'll now turn things over to Rendon and take us through our financial results.