Oxbridge Re and SurancePlus Partner with Zoniqx to Tokenize Reinsurance

Oxbridge Re Holdings Limited and its Web3-focused subsidiary, SurancePlus Inc., have announced a partnership with Zoniqx, a digital asset management company. The collaboration aims to use blockchain technology to tokenize reinsurance contracts and deploy them on blockchain ecosystems.

SurancePlus will enhance its real-world asset (RWA) tokenization efforts through this partnership with Zoniqx. Jay Madhu, President and CEO of Oxbridge Re, commented on the collaboration: “Last year, SurancePlus incorporated digital innovations and Web3 insights, democratizing access to reinsurance as an alternative investment. Building on that success, we are delighted to have partnered with Zoniqx. Their tokenization and digital asset lifecycle management offerings will further enhance our RWA Tokenization and Web-3 capabilities.”

Fundraising and Token Issuance

SurancePlus completed a private placement of 287,705 Participation Shares represented by digital tokens, EpsilonCat Re, under a 3-year Participation Share Investment Contract, raising approximately $2.88 million. These tokens, issued on the Avalanche blockchain, target a 42% return. This follows the successful DeltaCat Re tokenized reinsurance security, which achieved a 49.11% return.

The EpsilonCat Re tokens were offered to U.S. accredited investors under Rule 506(c) of the SEC Regulation D and to non-U.S. investors pursuant to Regulation S of the U.S. Securities Act 1933, as amended.

Sanjeev Birari, Co-Founder and CBO of Zoniqx, highlighted the collaboration’s impact: “This collaboration with Oxbridge Re and SurancePlus marks a significant milestone in advancing RWA tokenization. By leveraging our TALM system and the DyCIST protocol, we are showcasing the reliability and versatility of our technology in the reinsurance industry. This partnership enhances transparency, security, and efficiency in the tokenization of reinsurance securities.”

SurancePlus aims to make reinsurance more accessible as an alternative investment through digitizing interests in reinsurance contracts as on-chain RWAs. The collaboration with Zoniqx will further expand SurancePlus’s footprint in the reinsurance industry.

About Zoniqx

Zoniqx specializes in Tokenization Platform as a Service (TPaaS) and transforms Real World Assets into Digital Assets. Their Tokenized Asset Lifecycle Management (TALM) solution and DyCIST protocol ensure security and scalability. Zoniqx bridges asset tokenization with institutional liquidity through their SecureConnect platform.

About Oxbridge Re Holdings Limited

Oxbridge Re Holdings Limited is a Cayman Islands-based company that offers tokenized RWAs as reinsurance securities and reinsurance business solutions to property and casualty insurers. Through its subsidiaries, Oxbridge Re NS and Oxbridge Reinsurance Limited, the company serves the Gulf Coast region of the United States. SurancePlus Inc., their Web3-focused subsidiary, has developed the first “on-chain” reinsurance RWA of its kind.

Image by Nitish Meena from Unsplash

Read other stories: Propy and Parcl Announce Strategic Partnership to Enhance Onchain Real Estate Analytics

Schroders Capital Launches Innovative Tokenization Pilot for Insurance-Linked Securities