Stone Ridge launches blockchain & digital asset risk MGA, Proof Insurance
, 2023-01-31 02:49:58,
Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, including reinsurance and insurance-linked securities (ILS), has launched Proof Insurance Solutions, a managing general agent (MGA) with a focus on underwriting risks from the blockchain and digital asset sectors.
The move ties in nicely with Stone Ridge’s other venture in digital assets, NYDIG which provides bitcoin-related products across a range of industries, from banking and insurance to fintech and nonprofits.
Of course it also ties in well with the alternative asset managers ability to manage portfolios of insurance and reinsurance risks for third-party investor clients.
Proof Insurance Solutions, LLC is licensed to provide insurance products across 51 US states and we understand capacity is being provided via a panel of carriers including Core Specialty Insurance Holdings, Inc.
We don’t at this stage know if any third-party capital is being used to support the Proof Insurance business. It’s perhaps too early at this stage, but we’d imagine Stone Ridge is considering how its third-party investors could access returns of this digital asset insurance business line via its reinsurance fund offerings.
Proof offers crypto-focused insurance solutions that it says are purpose built for the digital-asset industry, with a significant focus on bitcoin related clients.
The product offering covers entities in the bitcoin value-chain, from crypto mining operations, to asset…
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