Oxbridge Re bolsters partnership

Oxbridge Re bolsters partnership | Insurance Business Australia

Insurance News

Oxbridge Re bolsters partnership

The reinsurer and its partner will be attending a mix of global events throughout the year

Insurance News

By
Kenneth Araullo

Oxbridge Re Holdings has announced its upcoming participation in several key industry events alongside its Web3-focused subsidiary, SurancePlus Inc, and partner, Zoniqx, a digital asset management firm.

Oxbridge Re, which specializes in tokenized Real-World Assets (RWAs) and reinsurance solutions for property and casualty insurers in the Gulf Coast region, said that it will leverage these events to discuss its efforts in pioneering the issuance of tokenized reinsurance securities.

The schedule of events includes: Token 2049 in Singapore on September 18 to 19, followed by Permissionless in Austin, Texas, from October 9 to 11. Oxbridge Re and its partners will then attend the RWA Summit in New York on October 22 to 23, before moving on to Abu Dhabi Finance Week in the UAE from December 9 to 12.

The series of appearances will conclude with the Global Blockchain Congress in Dubai on December 12 to 13.

Jay Madhu, president and CEO of Oxbridge Re, stated that these events provide a platform to showcase the company’s innovative tokenized reinsurance securities and its progress in utilizing blockchain technology.

Sanjeev Birari (pictured above), co-founder and chief business officer of Zoniqx, highlighted the collaboration with Oxbridge Re and SurancePlus as an example of how tokenized reinsurance securities can revolutionize traditional insurance models.

Earlier this week, the reinsurance holding firm also announced its financial results for the second quarter and first half of 2024.

For the three months ending June 30, 2024, the company recorded a net loss of $821,000, or $(0.14) per basic and diluted share, compared to a net loss of $85,000, or $(0.01) per share, in the same period of 2023. The larger net loss was primarily due to a negative change in the fair value of equity securities and other investments during the quarter.

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