> For the complete documentation index, see [llms.txt](https://docs.onre.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.onre.finance/reinsurance-framework/collateral-security-and-segregation.md).
# Collateral Security and Segregation
Collateralised programmes may be executed either from OnRe’s balance sheet segregated account or through the creation of a dedicated segregated account, each a legally ring-fenced structure under Bermuda law. Each account maintains its own distinct pool of assets and liabilities, separate from OnRe’s General Account and from other accounts.
This legal structure is reinforced through:
* statutory segregation under Bermuda’s Segregated Accounts Companies Act 2000 (SAC Act);
* digital custody controls, ensuring only authorised withdrawals via multi-sig wallets; and
* onchain verification through public blockchain explorers.
Diagram 1
Diagram 1 illustrates the legal segregation of accounts under Bermuda’s SAC Act. Each account, whether the OnRe General Account, ONyc SA (the balance sheet underwriting account), or any collateralised account, is treated as a distinct pool of assets and liabilities. The dotted lines represent this statutory segregation, which ensures that:
* assets in one account cannot be used to meet the liabilities of another;
* each account operates independently with its own capital, obligations, and custodial structure; and
* investors and cedents are protected from cross-contamination of risk between accounts.
This segregation is legally enforceable and supported by Bermuda case law, offering clarity and security for all parties.
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