Oxbridge Re Holdings Limited

Second Quarter 2023 Earnings Call. My name is Chloe 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, this call is also being broadcast live via webcast and available via webcast replay until August 28, 2023 on the Investor Information section of Oxbridge RE's website at www.oxbridgeRE.com. I would like to turn the call over to Rendon Timothy, Chief Financial Officer of Oxbridge Reeves, 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 Oxbridge Reeves' 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 these risks and uncertainties that could cause actual results An event different materially from such forward-looking statements is included in the detection entitled risk factors contained 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 could 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 accept 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 our Chairman, President, and Chief Executive Officer, Jay Maidoo.

Jay? Thank you, Randall, 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 SPV, or special purpose vehicle, 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 effectively with large carriers. We specialize in underwriting low frequency, high severity risks where we believe sufficient data exists to efficiently 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 Corp, a special purpose acquisition company, or SPAC, focusing on investing in disruptive technologies. Subsequent to the second quarter on August 10, 2023, Oxbridge Acquisition completed its business combination with JetAI. JetAI develops software leveraging artificial intelligence and offers fractional aircraft ownership Jet card aircraft brokerage and charter through its fleet of private aircraft and those of its operating partner. Jet AI operates along two segments, software and aviation. The software segment features the B2C Charter GPT app and the B2B Jet.AI operator platform. The Charter GPT app uses natural language processing and machine learning to improve private booking experience. The JetAI 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 on fleet charter management and buyer's brokerage. JetAI also recently announced the launch of Dynaflight, a carbon offset transaction platform built for both commercial and private aviation operators. The platform enables aviation businesses to offset their carbon emissions through the purchase of carbon removal credits that fund the direct extraction of carbon dioxide from the atmosphere. We also further diversified our business with the creation of our new Web3 focused subsidiary, Assurance Plus Inc. The company offers an alternative investment opportunity leveraging key insights and qualities of blockchain technology to create a well-designed digital security under SEC guidelines that have complete transparency and compliance. During the second quarter, Assurance Plus completed a private placement offering of security tokens, which, assuming no losses, are expected to generate a potential return of approximately 42% a year. This new trust is an entry into Web3 and digital securities 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. Insurance Plus is now a brand new, well-capitalized business and growth opportunities for our shareholders. And to reiterate, this new opportunity was created without any debt and no equity dilution. We are very proud of this accomplishment and look for this exciting new entity to diversify and accelerate our growth prospects in the years ahead. We are very pleased about both these new investments and look forward to keeping your praise of their progress in the coming quarters. Regarding our investment portfolio, we remain opportunistic and will deploy 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 optimistic about the prospects of our core reinsurance business and our two new investments in JetAI as well as Shorts Plus. I'll now turn things over to Brendan to take us through the results.