What happened with Forward Industries and OnRe?

Forward Industries and RockawayX co-led a $5 million funding round for OnRe. The startup is building onchain reinsurance infrastructure on Solana. The goal is to move insurance risk and capital flows onto blockchain systems.

What is onchain reinsurance and why does it matter?

Reinsurance is when insurers transfer risk to other parties to manage exposure. Onchain reinsurance uses blockchain and smart contracts to handle this process. It could improve transparency, efficiency, and access to capital compared to traditional systems.

How much is being invested into OnRe?

The initial funding round is $5 million, but Forward Industries may allocate up to $25 million into OnRe’s yield-bearing token. This suggests a larger long-term commitment. The token is expected to represent participation in reinsurance risk and returns.

Why is Solana being used for this project?

Solana is known for high throughput and low transaction costs. These features are important for handling complex financial transactions like insurance contracts. It makes the network suitable for scalable financial infrastructure.

How big is the reinsurance market opportunity?

The global reinsurance market exceeds $600 billion, with total premiums approaching $2 trillion. Even small blockchain penetration could represent significant value. This makes it an attractive sector for innovation.

How did the market react to the announcement?

Forward Industries’ stock rose about 5.8% during trading, while SOL increased around 2.7%. However, some gains faded in after-hours trading. This suggests initial optimism followed by more cautious sentiment.

What is Forward Industries’ exposure to Solana?

Forward Industries is the largest corporate holder of SOL, with more than 7.01 million tokens. This makes its strategy closely tied to the Solana ecosystem. Investments like OnRe deepen that exposure.

Image for illustrative purposes only. Not a real photo.

Forward Industries backs Solana onchain reinsurance push

Written by Liezl GambePublished May. 6 2026Last Updated May. 6 2026

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.