KYC and AML Policy

Eligibility Requirements

To mint or redeem directly through the OnRe app, all capital providers must complete identity verification through our secure third-party provider, Sumsub. These requirements ensure that participants meet Bermuda’s standards for digital asset business and that capital entering the platform comes from suitable and verifiable sources.

In addition to passing KYC/KYB checks, participants must meet the criteria to qualify as Qualified Acquirers under Bermuda law. Eligibility generally includes one of the following:

Sufficient Income

• Individuals: USD 200,000 in annual income this year and the past two years, or USD 300,000 combined with a spouse.

• Corporations: Underlying shareholders or beneficiaries must meet the individual income threshold.

High Net Worth

• Individuals: USD 1,000,000 or more in net assets, singly or jointly, excluding primary residence and beneficial insurance.

• Corporations: Underlying shareholders or beneficiaries must meet the individual net-worth threshold.

Substantial Assets

• Individuals: Not applicable.

• Corporations: ≳ $5 million in total assets.

Participation Agreement Safeguards

All capital received by OnRe to support (re)insurance business is contributed pursuant to a binding legal agreement known as a Participation Agreement – a well-established contractual structure in Bermuda used to capitalise segregated insurance accounts without issuing equity.

The Participation Agreement governs the entire lifecycle of the capital, providing clear legal certainty that:

• legal title to the funds rests with the segregated account in which the investor participates – not with OnRe generally;

• funds may only be used to meet (re)insurance claims and associated liabilities arising under contracts written by that account;

• once the (re)insurance business is fully run off, any surplus capital is returned to the original capital providers, subject to agreed liquidity mechanics and timing provisions;

• he assets of one account are statutorily ring-fenced from OnRe’s general account and from other segregated accounts. They cannot be transferred or used for any other purpose.

AML/ATF Policy

OnRe conducts standard anti-money-laundering and anti-terrorist-financing reviews. This includes sanctions screening, jurisdiction checks, and assessing whether platform activity aligns with onboarding information. If AML or eligibility requirements cannot be satisfied, access to segregated accounts or certain products may be limited.