On-chain reinsurance: OnRe raise $5M for Solana as Forward dey eye $25M

OnRe, one startup wey dey build on-chain reinsurance infrastructure for Solana, don raise $5 million Series A wey Forward Industries and RockawayX co-lead. The funding na to move insurance risk-transfer workflows go blockchain, using tokenization and smart contracts to automate underwriting and capital allocation. One standout commitment: Forward Industries dey plan to put up to $25 million into one Solana-based yield token wey OnRe go issue. The companies talk say this go help expand the platform and attract more institutional players into on-chain reinsurance markets. The article talk say on-chain reinsurance still dey early, but e get strategic importance: reinsurance na market pass $600B with premiums near $2T. By replacing manual tracking with shared ledgers, the approach wan improve efficiency and transparency across underwriting and claims. E also note similar efforts, like decentralized reinsurance protocol Re and broker Aon wey dey test premium payments with stablecoin. For traders, this one na constructive signal for Solana-linked institutional DeFi infrastructure. E fit support SOL sentiment, but e no likely to change broader market structure by itself.