Oxbridge Re Holdings Limited

Good afternoon and welcome to Oxbridge-Rees first quarter 2024 earnings call. My name is Audra 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 via webcast and available via webcast replay until May 23, 2024, 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. Please go ahead.

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 anticipate, estimate, expect, intend, plan, project, 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 subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ in materiality from such forward-looking statements is included in the section entitled Risk Factors, continuing our 10-K file on March 26, 2024. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company's business, financial conditions, 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 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.

Hi, Randon, and thank you so much. Welcome, everyone. Thank you for joining us today. Let me start by saying we are proud of the significant steps we have taken in last 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 risk, 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. Building on the stable reinsurance foundation, we began 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 technology. In August of 2023, Oxbridge Acquisition successfully completed its business combination with JetAI Inc. The company develops software and offers fractional aircraft ownership, jet card aircraft brokerage, and chartered to its fleet of private aircraft, and those of its operating partner. It operates in 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 the private jet booking experience. The Jet.ai operator platform offers a suite of standalone software products such as Reroute and Dynaflight, which are carbon credits, to enable FAA Part 135 charter operators to add revenue, maximize efficiency, and reduce environment impact. The aviation segment features jet aircraft fractions, jet cards, on-fleet charter, management, and buyer's brokerage. With the completion of the business combination in 2023, the company began trading on the NASDAQ Stock Exchange. Our interest in Jet.ai is recognized as fair value in other investments on our balance sheet. In 2020, 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 SEC guidelines, representing a significant advancement in the digital security market. Consequently, this initiative aims to broaden investor participation, extending opportunities beyond what traditionally has been a select group of ultra-high net worth individuals. Crucially, the establishment of Assurance Plus was achieved without incurring new debt or diluting equity for our shareholders, efficient approach to diversification. We are enthusiastic about the prospects of the new investment and remain committed to keeping our shareholders informed of their progress in the upcoming quarters. Looking forward, we intend to reposition Oxbridge as a prominent player in the real-world asset or RWA Web3 sector. Further details on 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 venture, JetAI Insurance Plus, as we embrace the RWA market more comprehensively. Now, I'll turn things over to Rendon to take us through our financial results. Rendon?