Oxbridge has done well this year despite the pandemic as the company has focuses on long-term growth.
Oxbridge Re Holdings (OXBR) has performed consistently this year despite the unprecedented economic circumstances. Where most of the top-performing stocks have had a bumpy ride, it was difficult to cope up with pandemic resections.
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Oxbridge Re Holdings is a reinsurance holding firm that provides reinsurance business solutions to casualty and property insurers in the Gulf Coast of the U.S. The company helps in overcoming property losses from specific calamities. They provide solutions that include underwriting medium frequency, risk and return profile, and high severity of the sites.
A year that was hard to anticipate, the Oxbridge stock has done remarkably well, growing swiftly. In the past 12-months, OXBR stock has soared up to 177.63%.
In the first quarter, the results had a negative impact due to the unexpected reduction in the value of its equity securities portfolio. The securities portfolio was restricted with depression in the financial markets. However, the business operations were running smoothly throughout the quarter and the pandemic had no impact on its operational and underwriting perspective.
Later, in the second quarter, the company had improved outcomes and the net income was reported at $165K compared to a loss of ($205K) in 2019. Also, the premium income surged on normalized recognition during the year.
In the third quarter, the company reported that it has improved results in the past nine months due to higher net premiums earned. The G&A expenses continued to reduce as the company applied cost-saving strategies.
The CEO of Oxbridge Re Holdings, Jay Madhu highlighted that they are positive about the long-term progress of their core reinsurance business. Moreover, they are working on exploring new growth opportunities to diversify their business operations and minimize the risk level.
Oxbridge’s sidecar investors earned over 36% return for the treaty year ended May 31, 2020, added Madhu.
Conclusion
In the past three years, Oxbridge Re Holdings’ earnings per share have soared over 93% annually. With that being said, the total shareholder loss was around 18% in the same three years period, which was quite dissatisfying for shareholders.
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Overall, the company has had a positive 12-months amid the hard and hostile economic situation. The management of Oxbridge Re Holdings (OXBR) is optimistic going into the year. Let’s see what the company has to offer in 2021.
