• Filing Date: 2020-03-23
  • Form Type: 10-K
  • Description: Annual report
v3.20.1
Net Worth for Regulatory Purposes
12 Months Ended
Dec. 31, 2019
Net Capital Requirements [Text Block]  
Net Worth for Regulatory Purposes

The subsidiaries are subject to a minimum and prescribed capital requirement as established by CIMA. Under the terms of their respective licenses, Oxbridge Reinsurance Limited and Oxbridge Re NS are required to maintain a minimum and prescribed capital requirement of $500 in accordance with the relevant subsidiary’s approved business plan filed with CIMA.

 

At December 31, 2019, the Oxbridge Reinsurance Limited’s net worth of $1.4 million exceeded the minimum and prescribed capital requirement. For the years ended December 31, 2019 and 2018, Oxbridge Reinsurance Ltd.’s net loss was approximately $817 thousand and $6 million, respectively.

 

At December 31, 2019, the Oxbridge Re NS’ net worth of $105 thousand exceeded the minimum and prescribed capital requirement. For the years ended December 31, 2019 and 2018, Oxbridge Re NS’ net income was approximately $86 thousand and $18 thousand, respectively.

 

The Subsidiaries are not required to prepare separate statutory financial statements for filing with CIMA, and there were no material differences between the Subsidiaries' GAAP capital, surplus and net income, and its statutory capital, surplus and net income as of December 31, 2019 or for the year then ended.