OXBR - Oxbridge Re forms new unit SurancePlus to issue tokenized reinsurance securities

• Oxbridge Re ( NASDAQ: OXBR ) on Tuesday announced the incorporation of its new unit SurancePlus , which will issue tokenized reinsurance securities that indirectly represent fractionalized interests in reinsurance contracts.
• The contracts will be underwritten by Oxbridge's ( OXBR ) reinsurance unit Oxbridge Re NS.
• Holders of the DeltaCat RE Tokens will receive the right to a return on investment from the performance of the underlying reinsurance contracts.
• SurancePlus estimates token holders could get annualized return of up to ~20%-40% in a profitable year.
• The token offering is expected to start in the coming months.
• "Proceeds raised from the token offering will be invested in reinsurance contracts," said Oxbridge ( OXBR ) CEO Jay Madhu. "By complying with applicable U.S. securities laws, we expect to create significant shareholder value by raising additional capital through token issuance and investing these funds in underwriting higher value reinsurance contracts."
• SurancePlus partnered with transfer agent Securitize to implement the tokenized reinsurance securities on its Securitize.io platform.
• "SurancePlus is leveraging the Securitize platform to validate and onboard investors, whose security tokens will be transacted and recorded on the blockchain," said Securitize president Jamie Finn.
• Earlier, Oxbridge ( OXBR ) reported weak Q3 results .

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