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Oxbridge Re parent funded about 95% of SurancePlus Solana raises

SurancePlus raised $781,767 across its T20 and T42 Solana-based placements, with Oxbridge Re Holdings contributing roughly $744,623 and third parties about $37,143.

Reported · Written up by our desk · Market Structure

Oxbridge Re Holdings supplied about 95% of the funds raised by SurancePlus in two Solana-based tokenized reinsurance placements, according to CryptoSlate. The T20 and T42 offerings raised a combined $781,767, and Oxbridge contributed approximately $744,623 of that total.

CryptoSlate reports that the remaining funding came from third-party investors, who supplied about $37,143, implying roughly a 95.25% parent-funded mix and a 4.75% third-party-funded mix based on the reported totals. The outlet also notes that Oxbridge’s filing does not clarify how consolidation eliminated the specific transaction.

Oxbridge’s broader headline total of $7.1 million combined the T20 and T42 proceeds with three securities linked to HCI Group’s reinsurance business, with those HCI-linked series generating $6.323 million in gross subscription proceeds. CryptoSlate adds that HCI provided separate collateral, contributing about $6.19 million directly to trust accounts, while another note cited deposits of roughly $5.8 million in net HCI-token proceeds.

CryptoSlate further states that the T20 and T42 instruments are not SurancePlus shares, and they are structured to give contractual rights tied to allocated underwriting profits rather than ownership or voting rights. The filings reviewed by the outlet identify HCI as a related entity through shared directorship, and describe the tokens as synthetic exposure tied to Fortex Reinsurance’s program.

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