GRAND CAYMAN, CAYMAN ISLANDS / ACCESSWIRE / June 2, 2016 / The board of directors of Oxbridge Re Holdings Limited (NASDAQ:OXBR) has authorized a share repurchase program whereby the company may repurchase up to $2 million of the company's ordinary shares through December 31, 2017.
The program permits the company to periodically repurchase shares for cash in open market purchases, block transactions and privately negotiated transactions in accordance with applicable federal securities laws. Moreover, the share repurchase program may be modified, suspended, terminated or extended by the company any time without prior notice.
About Oxbridge Re Holdings Limited
Oxbridge Re (http://www.oxbridgere.com) is a Cayman Islands exempted company that was organized in April 2013 to provide reinsurance business solutions primarily to property and casualty insurers in the Gulf Coast region of the United States. Through Oxbridge's licensed reinsurance subsidiary, Oxbridge Reinsurance Limited, it writes fully collateralized policies to cover property losses from specified catastrophes. Oxbridge Re underwrites medium frequency, high severity risks, where it believes sufficient data exists to analyze effectively the risk/return profile of reinsurance contracts. The company's ordinary shares trade on the NASDAQ under the ticker symbol OXBR and were recently added to the Russell Microcap Index. Warrants trade on the same market under the ticker symbol OXBRW.
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements, including statements about future dividend payments, are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. Oxbridge Re disclaims all obligations to update any forward-looking statements.
Jay Madhu, CEO
Oxbridge Re Holdings Limited
RFB Communications Group
SOURCE: Oxbridge Re Holdings Limited