Oxbridge Re mulling potential sale, spinout or merger on ‘attractive terms’
Cayman Islands-based property and casualty reinsurer Oxbridge Re Holdings is exploring “strategic alternatives” including a potential sale, spinout or merger.
The company has initiated a process to evaluate strategic alternatives “to maximise shareholder value”.
It said the board of directors will consider alternatives for the company, and/or its Web-3 division subsidiary SurancePlus Holdings.
This includes a sale, spinout, merger, divestiture, recapitalisation, and other strategic transactions, or continuing to operate as a public, independent company, Oxbridge stated.
It's not certain that the evaluation will result in it and/or its subsidiaries pursuing a transaction or that any transaction, if pursued, will be completed on “attractive terms”.
There is no timetable set for the conclusion of this review, the company said.
Jay Madhu, Oxbridge Re Holdings chairman and chief executive officer, commented: "To reinforce our strategic vision, we are committed to exploring opportunities that will deliver value to our stakeholders and ensure continued success in our evolving industries.”
Headquartered in the Cayman Islands, Oxbridge Re offers tokenised reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus, Oxbridge Re NS, and Oxbridge Reinsurance.
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