Buy & Swap Re (RE)

Insurance for insurance companies

Re starts with a plain explanation. Reinsurance is insurance for insurance companies: insurers pass portions of their risk to reinsurers, large pools of capital absorb the losses, and the system survives shocks without breaking.

Re's pitch is that this is one of the world's largest, oldest and least digitised financial markets. It puts the global reinsurance market at more than $800 billion and says it has low correlation to traditional assets — it does not simply rise and fall with stocks.

Its thesis is almost philosophical: the world breaks in cycles, the next shock is guaranteed, and the only question is who absorbs it.^{[1], [2]}

What Re actually offers

Re says it provides onchain access to regulated reinsurance, using real reinsurance treaties with verifiable premiums. Capital is deployed fully collateralised, with defined risk limits and underwriting discipline.

The yield in reUSD, Re says, comes from real insurance premiums — the price people and businesses pay so that accidents do not stop the world. It contrasts this with yield that depends on a story: premiums exist because coverage is needed.

The site lists three pillars: real-economy cashflows, verifiable solvency that can be checked onchain through attestations, audits and custody architecture, and underwriting discipline — including what it refuses to write and a catastrophe-light posture.^{[3], [4], [5]}

Inside the portfolio

At the time of reading, Re showed total value locked of $712.26 million and total deposits of $318.79 million.

It described a $512.3 million low-volatility, diversified insurance portfolio. The largest slice was small-business commercial cover at 44%, followed by commercial auto at 26%, homeowners at 17%, workers' compensation at 12% and personal auto at 1%.

Every line was labelled low volatility. That mix of everyday business and household cover, rather than catastrophe bets, is central to how Re presents itself.^{[6], [7]}

Where RE fits

The site's navigation includes reUSD, reUSDe, points, metrics, a MiCA whitepaper and claims pages, and it is published under the Resilience Foundation.

The documentation draws a sharp line between the products and the RE token. reUSD and reUSDe represent positions in insurance portfolios; RE is the governance token for the policy layer. Staked RE can be used to vote, propose changes, delegate, serve on committees and perform attestations.

That policy layer can govern upgrades, permissions, reporting standards, staking parameters and incentive policy. It does not underwrite insurance, settle claims or set policy prices. Those jobs remain with licensed and regulated businesses, so token voting cannot simply overrule the insurance operation.

Governance participation requires staking and can involve lockups, cooldowns and slashing for defined misconduct. Re also states that participation is subject to identity checks and jurisdiction restrictions, and that rewards compensate active governance work rather than offer passive yield.

That separation is easy to miss but central to the design. Buying RE is not the same as depositing into an insurance-backed product, and staking it is not a claim on every premium Re collects. The token is for supervising defined parts of the protocol while the regulated insurance entities retain their legal responsibilities.^{[8], [9], [10]}

Token role and live figures

Re states a total supply of one billion RE, but the live amount staked and future governance reward rate change over time. Value-locked and portfolio figures also move; the ones quoted here are as read on the verification date.^{[6], [8]}