Oxbridge Re Holdings Limited Announces Board Changes
January 14, 2023 at 03:46 am IST
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On January 9, 2023, the Board of Directors (the Board") of Oxbridge Re Holdings Limited (the Company") accepted the resignation of Mr. Raymond Cabillot as an independent director of the Company, effective immediately. Mr. Cabillot's decision to resign did not involve any disagreements with the Company, management or the Board relating to the Company's operations, policies or practices. On January 9, 2022, the Board of Oxbridge Re Holdings Limited appointed Mr. Arun Gowda to serve as an
independent director on the Board of the Company, effective immediately. Mr. Gowda will also serve as a
director of Oxbridge Reinsurance Limited (OxRe"), subject To Approve the Cayman Islands Monetary Authority
(CIMA"). Mr. Gowda's appointment was made to fill the vacancy resulting from Mr. Cabillot's resignation, and
he was appointed for a term that ends at the 2023 annual general meeting of shareholders. Mr. Gowda has served as the Managing Partner of Broadpeak Ventures, a private investment company, since January 2018. In his role as Managing Partner, Mr. Gowda oversees and manages investment and business development with early-stage venture companies in asset management, insurance and alternative investment strategies. Mr. Gowda served as the Managing Director, UBS O'Connor, New York, from September 2016 to December 2017, where he was responsible for raising funds for private credit and hedge funds. From February 2012 to December 2015, Mr. Gowda served as Managing Director at Guggenheim Investments, New York, where he was responsible for development of the alternative investment platform for institutional investors, including pension funds, insurance companies and private banks. From August 1993 to December 2011, Mr. Gowda held senior roles of Vice President at Morgan Stanley, New York, Executive Director at UBS Investment Bank, London and Partner at Eventi Capital Partners, Toronto, where he managed investments in private companies in technology, medical devices, and alternatives. Mr. Gowda has served as a director on Ide8 Re, a Bermuda captive reinsurer for insurtech Bamboo Insurance from April 2021 to present. Mr. Gowda has also served as an advisor to the management of Aquarian Holdings and Osprey Funds since January 2019 and May 2021, respectively. Mr. Gowda holds an MBA in Finance from The Wharton School, University of Pennsylvania, and a Bachelor's Degree with Distinction in Electrical Engineering, Computer Science and Math from Vanderbilt University. Mr. Gowda brings to the Board invaluable experience in investments, hedge funds, insurance and reinsurance products, and experience in fund raise and scaling businesses to boards. Mr. Gowda was appointed to serve as the Chair of the Audit Committee and the Investment Committee of the Board, and a member of the Nominating and Corporate Governance and Compensation of the Board.
Oxbridge Re Holdings Limited is a Cayman Islands-based company that provides reinsurance business solutions primarily to property and casualty insurers in the Gulf Coast region of the United States. The Company operates through the Property and Casualty Reinsurance segment. The Company, through its reinsurance subsidiaries, Oxbridge Reinsurance Limited and Oxbridge RE NS, writes fully collateralized policies to cover property losses from specified catastrophes. Oxbridge Re NS functions as a reinsurance sidecar which increases the underwriting capacity of Oxbridge Reinsurance Limited. Oxbridge Re NS issues participating notes to third party investors, the proceeds of which are utilized to collateralize Oxbridge Reinsurance Limited's reinsurance obligations. It specializes in underwriting medium frequency, high severity risks, where it believes sufficient data exists to effectively analyze the risk/return profile of reinsurance contracts.