Munich Re, Swiss Re, and Hannover Re generate billions in free cash flow every quarter, and have for decades.
@karnsaroya explains why this predictability is the missing piece in DeFi on @therollupco:
The reinsurance market is not only uncorrelated, it's consistently profitable.
Reinsurer ROE is on track for a 4th consecutive strong year: 21.9% in 2023, 16.4% in 2024, 18.9% in 2025 and 16.6% expected in 2026.
Results were driven by underwriting outcomes and real-world
Publishing audited financials is something I take tremendous pride in. And I'm personally involved in every step. It's more than paperwork, it's proof of the financial viability and going concern of what we're building. The momentum is real. The results are real. Now, the
A common misconception: all onchain reinsurance is catastrophe risk.
Property cat pricing is down 16% this year while US casualty insurance rates are up seven straight quarters.
Cover Re's portfolio: diversified across casualty, non-CAT property, and specialty lines, with
A $700B market that runs on email is starting to settle onchain.
The insurance part doesn't change. Regulated insurers write the policies and pay the claims. Policyholders are made whole the way they always have been.
What changes is the capital underneath: open and verifiable.
Over the past weeks, the protocol purchased ~677,906 reUSDe at a ~4% discount to NAV and burned them.
Total buyback: ~4.7% of supply
The captured discount (~$44,900) flows to remaining holders through the token price, a one-time increase of about +0.24%.
Note: the 7-day
