SurancePlus Inc., a subsidiary of Oxbridge Re Holdings Limited (Nasdaq: OXBR), has successfully raised $2.4 million through a private capital raise. The funding was secured through the sale of 244,776 tokenized reinsurance securities called DeltaCat Re on the Avalanche blockchain. Each digital security represents one preferred share of SurancePlus and indirectly confers fractionalized interests in reinsurance contracts underwritten by Oxbridge Re’s reinsurance subsidiary.
The offering of DeltaCat Re digital securities was made to accredited investors in the United States under Rule 506(c) of the Securities and Exchange Commission (SEC) Regulation D, and to non-U.S. investors under Regulation S of the U.S. Securities Act of 1933.
SurancePlus leveraged digital innovations and insights from the Web3 space to democratize access to reinsurance as an alternative investment, making it the first publicly traded company to raise capital for catastrophe reinsurance risks through the sale of tokenized reinsurance securities.
Oxbridge Re Holdings Limited is a Cayman Islands exempted company that provides reinsurance solutions primarily to property and casualty insurers in the Gulf Coast region of the United States. The company’s subsidiaries include Oxbridge Reinsurance Limited, Oxbridge Re NS (a licensed reinsurance SPV/side car), and SurancePlus Inc., which focuses on democratizing access to high-return reinsurance contracts using blockchain technology.