OnRe Brings Reinsurance Market to Solana with Tokenized ONyc Product

OnRe's Dan Roberts wants to bring one of the world's oldest financial markets onchain. As CEO and co-founder of OnRe, a property reinsurer out of Bermuda, he has successfully tokenized his company's reinsurance portfolio into a product called ONyc, now live on Solana. Instead of buying stock in a public insurance company, investors get direct exposure to the reinsurance portfolio itself.

OnRe has grown into the largest onchain manager of reinsurance capital globally, with $300M in tokenized reinsurance premiums spanning global property risk across flood, earthquake, wind, energy, and aviation. The ONyc token recently became the top real-world asset on Solana by DeFi active TVL, according to Solana's own ecosystem research.

Roberts chose Solana for its speed and transaction cost benefits, but more importantly because of its engaged cohort of DeFi protocols willing to integrate ONyc. This 'elastic' feedback loop allows OnRe to launch new structures quickly, with strong demand validating the product immediately, while weak demand signals a needed adjustment.

OnRe's assets under management grew from $30M to $300M in under a year, reflecting both inbound capital and diversification across reinsurance lines tied to quarterly renewal cycles. The company recently rolled out a request-for-quote system that aggregates primary liquidity, pushing available liquidity from $10 million to $45 million within a single week.