# Re

> Re is a blockchain-powered reinsurance protocol - often described as a decentralized Lloyd's of London - that connects alternative capital to regulated insurance risk. Built originally on Avalanche, Re lets stablecoin depositors back baskets of real reinsurance treaties and earn premium-driven yield, while the on-chain design brings transparency and auditability to a historically opaque, intermediary-heavy market. Founded in 2022 by former Cover CEO Karn Saroya, Re has grown to roughly half a billion dollars in total value locked and launched its $RE governance token in June 2026.

- **Founded:** 2022
- **Headquarters:** San Francisco, California, United States
- **Founders:** Karn Saroya (Co-Founder & CEO), Anand Dhillon (Co-Founder (ex-CTO, Cover)), Cliff White (Co-Founder & VP of Engineering (ex-CTO, Kiteworks))
- **Team size:** ~16 employees
- **Products:** reUSD (Basis-Plus), reUSDe (Insurance Alpha), Re Protocol, $RE Governance Token, Metrics Dashboard
- **Notable:** Raised the world's first $14M seed round for a blockchain-powered reinsurer (2022), Grew total value locked to roughly $465M-$565M within about three and a half years, Wrote $191.6M in premiums in 2025, up 128% year over year

## Products & services

- **reUSD (Basis-Plus)** — A yield-bearing senior-tranche token backed by insurance premiums, earning a blended yield plus a ~250 bps spread with more liquid redemptions.
- **reUSDe (Insurance Alpha)** — A junior-tranche token that earns a higher spread (~850 bps) in exchange for absorbing losses before the senior layer; redeemable quarterly.
- **Re Protocol** — A smart-contract protocol that channels stablecoin capital into fully collateralized reinsurance treaties through licensed reinsurers, with on-chain attestations and audits.
- **$RE Governance Token** — An ERC-20 governance token (fixed 1B supply) launched June 2026 via the Resilience Foundation, letting holders govern the protocol's policy layer, staking, and transparency standards.
- **Metrics Dashboard** — Transparency tools for monitoring portfolio performance, TVL, deposits, and combined ratio across insurance lines.

## Achievements

- Raised the world's first $14M seed round for a blockchain-powered reinsurer (2022)
- Grew total value locked to roughly $465M-$565M within about three and a half years
- Wrote $191.6M in premiums in 2025, up 128% year over year
- Achieved a 92% combined ratio - roughly 8 cents of underwriting profit per premium dollar
- Signed 40+ insurance partners and touched coverage for ~1M US policyholders
- Launched the $RE governance token in June 2026 with a fixed 1B supply and no perpetual emissions

## Latest updates

- **2026-06** — Launched the $RE ERC-20 governance token via the Resilience Foundation, with a fixed 1B supply and listings on major exchanges.
- **2026** — Approaching ~$500M in TVL and roughly $310M in premiums written in 2026.
- **2025** — Wrote $191.6M in reinsurance premiums, up 128% YoY, at a 92% combined ratio.
- **2024-05** — Raised an additional $7M follow-on round led by Electric Capital.

## Links

- Website: https://re.xyz
- LinkedIn: https://www.linkedin.com/company/re-protocol
- Twitter/X: https://x.com/re

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Profile page: https://yespress.io/re
Published by YesPress — https://yespress.io
Last updated: 2026-07-03