OnRe

OnRe is a Bermuda-domiciled on-chain reinsurance carrier operating on the Solana blockchain, regulated by the Bermuda Monetary Authority (BMA) under both the Digital Asset Business Act (DABA) and the Insurance Act (Class IIGB). Registered as On Re SAC Ltd. (#55347) and structured as a Segregated Accounts Company (SAC), the company underwrites specialty lines and property catastrophe reinsurance, sourcing risk through established brokers Guy Carpenter and Howden.

The company was originally incubated as Nayms under Insurtech Gateway in 2018, raising GBP 1.5M in seed funding in January 2021 and USD 6M via a NAYM token sale in June 2021. The team relaunched under the OnRe brand in May 2025 with purpose-built infrastructure backed by Ethena, Solana, and RockawayX. In May 2026, the company closed a USD 5M Series A round led by RockawayX and Forward Industries to accelerate underwriting capacity.

OnRe's principal innovation is its ONyc (On-chain Yield Collateral) token, a yield-bearing dollar asset backed by reinsurance premiums and collateral returns, targeting APY exceeding 16%. The company holds a USD 150M reinsurance delegation through Dubai-based MGA Rhodium Re and integrates with multiple Solana DeFi protocols for capital deployment. As a startup in the 1-10 employee range, it is early-stage and capital-light, relying on blockchain settlement and smart contract automation rather than traditional carrier infrastructure.