Oxbridge Re Holdings Limited

Good afternoon. Welcome to Oxbridge REIT's fourth quarter and year-end 2023 earnings call. My name is Shamali, 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 REIT's Chairman, President, and Chief Executive Officer, Jay Madhu, and Chief Financial Officer and Corporate Secretary, Brendan 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 April 9th, 2024 on the investor information section of the Oxbridge REIT website at www.oxbridgereit.com. Now, I would like to turn the call over to Brendan Timothy, Chief Financial Officer of Oxbridge REIT, who will provide the necessary cautions regarding the forwarding 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 Tree's future financial performance. These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as anticipate, estimate, 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 10-K filed with the Securities and Exchange Commission today, March 26, 2024. 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 turn the 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. Let me start by saying we are proud of the significant steps we have taken this year to fortify and diversify our business. Our core business remains reinsurance, where 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. Building on the stable reinsurance foundation, we begin to diversify our business in 2021 as a lead sponsor of Oxbridge Acquisition Corp, a special purpose acquisition company, or SPAC, focusing on investing in disruptive technologies. In August of 2023, Oxbridge Acquisition successfully completed its business combination with Jet AI Inc. The company developed software and offers fractional aircraft ownership Jet Card aircraft brokerage and charter through its fleet of private aircrafts and those of operating partner. It operates in two segments, software and aviation. The software segment features the B2C Charter GPT app and B2B Jet AI operator platform. The Charter GPT app uses natural language processing and machine learning to improve the private jet booking experience. The JetAI operator platform operates a suite of standalone software products such as ReRoute and DynoFlight to enable FAA Part 135 charter providers to add revenue, maximizing efficiency and reducing environmental impact. The aviation segment features jet aircraft fractionalization, jet cards, on-freet charter management, and buyer's brokerage. With the completion of the business combination in August of 2023, the company began trading with the NASDAQ Stock Exchange. Our interest in JetAI is recognized at fair value and in other investments on our balance sheet. In 2023, we expanded our business portfolio by establishing Assurance Plus Inc., a new subsidiary focused on Web3 technology. Assurance Plus specializes in democratizing tokenized real-world assets, or RWAs, offering tokenized reinsurance securities as alternative investment opportunities. These securities leverage blockchain technology to ensure complete transparency and compliance with the SEC guidelines, representing a significant advancement in the digital security market. Consequently, this initiative aims to broaden investor participation, extending opportunities beyond a select group of ultra-high net worth individuals. Crucially, the establishment of Assurance Plus was achieved without incurring new debt or diluting equity in our shareholders. reflecting our efficient approach to diversification. We are enthusiastic about the prospects of these new investments and remain committed to keep our stakeholders informed of the progress in the forthcoming quarters. Looking ahead, we intend to reposition Oxbridge as a prominent player, the real-world asset to our WA Web3 sector. Further details of the strategic direction will be shared later in the call. In summary, we maintain a strong sense of optimism regarding the long-term outlook of our core reinsurance business, alongside the successful integration of our new ventures, JetAI Insurance Plus, as we embrace the RWA market more comprehensively. I'll now turn things over to Rendon and take us through our financial results.