Oxbridge Re is a small, Cayman Islands-based specialty property catastrophe reinsurer focused almost exclusively on the Gulf Coast, primarily Florida. Oxbridge Re writes fully collateralized excess-of-loss reinsurance contracts for small Florida-based property and casualty insurers, protecting them against losses from low-frequency, high-severity catastrophic events like hurricanes. Because Oxbridge Re lacks a financial strength rating outside the Cayman Islands, it holds the full coverage limit in trust accounts in favor of cedants as collateral in lieu of a rating. Oxbridge Re participates primarily as a follow-on underwriter, with most contract premiums set by lead reinsurers. Revenue is driven by premiums earned on contracts written, which is a function of the number and size of contracts, prevailing market rates, and available capital. Profitability is highly seasonal and binary — in years without major hurricane activity, Oxbridge Re retains most of its premiums, but significant storms can wipe out a meaningful portion of premium income. Oxbridge Re also operates SurancePlus, an early-stage Web3 subsidiary launched in 2022 that issues tokenized digital securities on the Solana blockchain representing fractional interests in its reinsurance contracts. SurancePlus allows accredited and international investors to participate in catastrophe reinsurance in smaller increments, which Oxbridge Re views as a way to attract third-party capital, reduce its own capital deployed into collateral, and generate fee-based revenue.