Reinsurance companies have grown by leaps and bounds over the past decade or so and one of the more interesting companies in this particular sector is Oxbridge Re Holdings Ltd (NASDAQ:OXBR). The company was established back in 2013 in the Cayman Islands and it operates in a niche market. The main reinsurance services offered by Oxbridge are meant for casualty and property insurers who are located in the Gulf Coast area in the United States.
In addition to that, the company has two licensed subsidiaries as well, which are named Oxbridge Re NS sidecar and Oxbridge Reinsurance Limited.
OXBR Stock Soars 60%
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The whole range of services provided by the company is expected to be quite diverse in the years to come and could turn out to be a good investment for canny operators in the stock market. The stock trades under the ticker signs OXBRW and OXBR on NASDAQ.
In a new development, that the company has announced that it was successful in placing its reinsurance contracts that were meant for the treaty year stretching from 1 June, 2019 and 31 May 2020. The contracts were renewed through the company’s fully owned subsidiary company Oxbridge Reinsurance Limited. However, that was not all. The company has also managed to raise funds by virtue of its reinsurance side car.
These are highly important developments for a company which is involved in the reinsurance industry and after the new broke, the company’s shares rose by a whopping 60% $1.35. It is clear to see that Oxbridge Re is on the right track as far as its stature as a reinsurance company is concerned.
In this regard, it is also necessary to point out that the company is looking to expand its services considerably in the years to come. Some of the sectors that it wants to move into includes the underwriting of medium to highly severe risks.