The Resilience Foundation
Just Deployed $100M
Into Cover Re SPC
On April 2, 2026, the Resilience Foundation transferred $100M into Cover Re SPC, Re's supporting reinsurance company, via a surplus note. This is the first capital rotation of its kind at this scale in decentralized reinsurance.
What Happened
The capital moved from the Resilience Foundation to a Re controlled wallet and onto Cover Re SPC's balance sheet as regulatory capital.
It's governed by a surplus note, a formal agreement under which Cover Re SPC accrues interest monthly and pays it back to the Foundation annually. That interest is what covers the yield owed to reUSD and reUSDe token holders.
What You Should Know
About the Capital
The funds remain in accounts managed by Cover Re SPC. They have not left Re's control.
Balances are verified by independent third parties every day.
The risk profile has not changed. Re's equity capital is still at risk first, before any reUSDe capital, and reUSDe before any reUSD. Moving capital offchain does not change this structure as defined in the legal agreements.
The deeper Re's capital pool grows, the more risk-remote reUSDe and reUSD become.
What This Means
for Depositors
Your liquidity is not affected. Re maintains at least 50% of all outstanding reUSD tokens available for instant redemption.
Redemptions are supported by multiple sources:
What to Expect
Next
Cover Re SPC is now larger with more capacity to write policies, earn premiums, and generate yield.
This is the first rotation. More are coming because transfers like this mean the business is growing.
The Resilience Foundation is the stewarding entity of the Re ecosystem, overseeing governance, development, and long-term integrity of the Re Protocol. The Foundation coordinates strategic direction and ecosystem growth while operational and regulated activities are executed through independent affiliated entities, including Cover Re.
Cover Re is a Cayman-domiciled reinsurer delivering rated-quality capacity through a fully collateralized balance sheet. It secures reinsurance liabilities with 100% cash and investment-grade assets held in segregated Regulation 114 trusts. Led by underwriters with experience from top-tier global (re)insurers, it's structured as a long-term partner focused on building profitable relationships with like-minded insurance companies and MGAs.
Disclosures
Yields are not guaranteed. Please assess your own risk. Not financial advice.
reUSD and reUSDe are available only to non-U.S. persons in specific permitted jurisdictions through Resilience Foundation Cayman LLC ("Resilience Foundation"), an Exempted Limited Guarantee Foundation Company incorporated in the Cayman Islands with Limited Liability with registered number IC-414560. Neither the Resilience Foundation nor its affiliates provide insurance or reinsurance services, act as an insurance broker or agent, or hold a license to conduct insurance business. All regulated reinsurance activities, including the underwriting of risks and the issuance of reinsurance contracts, are conducted exclusively by Cover Reinsurance SPC Ltd. ("Cover Re SPC"). Cover Re SPC is a Class B(iii) licensed exempted segregated portfolio company incorporated in the Cayman Islands.
Not guaranteed. Purchasing reUSD and reUSDe tokens involves significant risk, including total loss of principal and smart contract vulnerabilities. Past performance is not a reliable indicator of future results.
No investment or financial advice. All content is provided for informational and educational purposes only.
Terms apply. See the Re website for additional details including our Legal Disclosures, Terms of Service, and Disclaimers.