{"id":2932,"date":"2025-10-23T11:45:34","date_gmt":"2025-10-23T11:45:34","guid":{"rendered":"http:\/\/www.xinetica.com\/?p=2932"},"modified":"2025-10-23T14:28:21","modified_gmt":"2025-10-23T14:28:21","slug":"fg-nexus-to-sell-fg-reinsurance-division-heise-to-serve-as-ceo","status":"publish","type":"post","link":"http:\/\/www.xinetica.com\/index.php\/2025\/10\/23\/fg-nexus-to-sell-fg-reinsurance-division-heise-to-serve-as-ceo\/","title":{"rendered":"FG Nexus to sell FG Reinsurance Division, Heise to serve as CEO"},"content":{"rendered":"

Fundamental Global Inc. (FG Nexus) has announced it has entered an agreement to sell a majority stake of its FG Reinsurance Division (FGRe) to Devondale Holdings LLC, led by industry veteran Tom Heise.<\/p>\n

\"handshake\"This strategic transaction intends to position the new entity as a pioneer in tokenized reinsurance.<\/p>\n

The deal will see FG Nexus receive $3.3 million cash, a $1.25 million note, and retain 40% equity ownership in Devondale.<\/p>\n

\u201cThis transaction sharpens our focus on Ethereum. By reallocating resources toward ETH accumulation. FG Nexus is building long-term ETH per share growth and reinforcing our conviction that Ethereum is the backbone of tomorrow\u2019s financial system,\u201d Maja Vujinovic, CEO of Digital Assets at FG Nexus, commented.<\/p>\n

Heise, who will lead the new entity as CEO, will build upon FGRe\u2019s robust portfolio and risk management expertise by leveraging blockchain technology to tokenize reinsurance contracts.<\/p>\n

\n
\"Ascot<\/a><\/div>\n<\/div>\n

This process is intended to enhance liquidity, transparency, and accessibility for investors.<\/p>\n

FGRe will operate independently under Heise, who brings over 25 years of leadership experience to the role, which includes having previously served as Chief Executive of FGRe.<\/p>\n

Kyle Cerminara, CEO of FG Nexus, said: \u201cWe are excited to sell the majority of our FG Reinsurance Division to focus our efforts on further strengthening our ETH Treasury strategy, while allowing the talented FGRe team to both chart its own course in growing their reinsurance business while also having access to FG Nexus\u2019 digital asset expertise to execute their planned tokenization strategies.<\/p>\n

“Tom and his team have been instrumental in building the reinsurance division into a profitable business, and we look forward to our continued relationship as minority stakeholders.\u201d<\/p>\n

Heise stated: “This transaction is a testament to the strength of our team and our ability to grow a profitable reinsurance portfolio. We are well positioned to create secure, efficient, and scalable tokenized solutions that meet the evolving needs of insurers and investors worldwide.”<\/p>\n

FG Nexus retaining a minority stake aims to ensure the alignment of interests and provide strategic, as well as to provide strategic guidance, technological infrastructure, and advisory services to accelerate the new entity\u2019s growth in tokenized reinsurance.<\/p>\n

The closing of the transaction is subject to regulatory approval and the satisfaction of all closing conditions contained in the definitive transaction documentation.<\/p>\n

The post FG Nexus to sell FG Reinsurance Division, Heise to serve as CEO<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fundamental Global Inc. (FG Nexus) has announced it has entered an agreement to sell a majority stake of its FG […]<\/p>\n","protected":false},"author":1,"featured_media":2934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/2932"}],"collection":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/comments?post=2932"}],"version-history":[{"count":3,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/2932\/revisions"}],"predecessor-version":[{"id":2936,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/2932\/revisions\/2936"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media\/2934"}],"wp:attachment":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media?parent=2932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/categories?post=2932"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/tags?post=2932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}