Forward Industries backs Solana onchain reinsurance push

Forward Industries and RockawayX co-led a $5 million funding round for OnRe to build onchain reinsurance infrastructure on Solana.

Forward said it may allocate up to $25 million into OnRe’s yield-bearing token, aiming to bring insurance risk and capital flows onto blockchain rails.

The funding targets expansion of OnRe’s platform to attract institutional participation in tokenised reinsurance markets.

OnRe aims to shift parts of the reinsurance industry—where insurers transfer risk—onto blockchain using smart contracts and tokenisation.

Forward, which holds more than 7.01 million SOL, saw its shares rise about 5.8% during trading, while SOL gained around 2.7%.

The global reinsurance market exceeds $600 billion, with blockchain pilots exploring ways to streamline underwriting, claims and capital flows.

The move reflects broader efforts by firms including Aon to integrate tokenised assets into traditional financial systems, though adoption remains early-stage.

At the time of reporting, Solana price was $86.78.