Reinsurance is moving onchain — $460M+ TVL protocols, tokenized cat exposure on Solana, institutional pilots by Schroders and Hannover Re. We track every product, yield and regulatory move. Independently.
Every live tokenized reinsurance and insurance-linked product — target vs. realized yield, structure, chain and access. The only aggregated view of this market anywhere.
| Product | Structure | Chain | Target Yield | Current / Realized | TVL / Size | Min. Ticket | Access | Status |
|---|---|---|---|---|---|---|---|---|
| reUSDRe Protocol | Permissioned vault — T-bills + delta-neutral ETH basis | Avalanche | 6–12% | ~6.1% | $466M (protocol) | KYC | Permissioned | Live |
| reUSDeRe Protocol | Insurance-alpha vault — direct underwriting exposure | Avalanche | 15–23% | ~12.0% | incl. above | KYC | Permissioned | Live |
| ONycOnRe | Yield token on reinsurance premiums + collateral yield, BMA-regulated | Solana | 10–16% | 20%+ looped | $255M | None | Open DeFi | Live |
| EtaCat Re 25/26SurancePlus / Oxbridge Re | Tokenized reinsurance sidecar, $10/token | Avalanche | 20% | 29.3% realized | >$16M cum. (all series) | $5,000 | Reg D / Reg S | Closed |
| ZetaCat Re 25/26SurancePlus / Oxbridge Re | High-yield tokenized sidecar, $10/token | Avalanche | 42% | 43.4% realized | see above | $5,000 | Reg D / Reg S | Closed |
| HCI Re 2026 ASurancePlus × HCI / Fortex Re | Synthetic excess-of-loss exposure — highest risk tranche | Solana | ~243%* | — | ~$12M offering (A–C) | ~$5,000 | 506(c) / Reg S | Offering |
| HCI Re 2026 BSurancePlus × HCI / Fortex Re | Mid tranche | Solana | ~133%* | — | see above | ~$5,000 | 506(c) / Reg S | Offering |
| HCI Re 2026 CSurancePlus × HCI / Fortex Re | Most conservative tranche | Solana | ~19%* | — | see above | ~$5,000 | 506(c) / Reg S | Offering |
| Florida ILWNayms | Industry Loss Warranty, Bermuda SAC structure | Base | Mid-high teens | n/a | n/a | Institutional | Institutional | Recurring |
| MCM Fund IMembersCap | Tokenized ILS fund, fiat + crypto subscription | Archax (multi-chain) | n/a | n/a | n/a | Qualified | Qualified investors | Live |
* Target returns assuming zero underwriting losses — capital is fully at risk in a catastrophe scenario. Data as of August 2026, compiled from issuer disclosures, DefiLlama, RWA.xyz and press releases. Yields are issuer-reported, not independently audited. This is not investment advice. Full tracker incl. structure deep-dives → subscribe
The market has protocols marketing themselves and generalist media that misses the substance. We sit in between — with data.
Weekly-updated comparison of every live tokenized ILS product: target vs. realized returns, TVL, structure, minimum tickets and access routes — the table that exists nowhere else.
What's actually inside a 42% tokenized sidecar? Trigger types, collateral, legal wrappers, loss scenarios. We read the offering docs so allocators don't allocate blind.
Bermuda's BMA framework, SEC exemptions, MiCA implications — tracked and translated into what it means for issuers and investors.
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Tokenization is opening a $121B asset class that used to require a $1M+ minimum and a Bermuda rolodex. Capital is flowing in — but independent information hasn't caught up. Classic ILS media doesn't speak DeFi; crypto media doesn't understand reinsurance.
Hinsche.re covers the overlap. Built by Simon Hinsche — finance background, independent, and not paid by any protocol to say nice things. Sponsorships are always clearly labeled; data and editorial are never for sale.
Questions, data corrections, or a product we should track? brief@hinsche.re