FG Nexus to Sell FG Reinsurance Division, Heise to Serve as CEO

FG Nexus to sell reinsurance arm to drive tokenized reinsurance growth - Artemis.bm

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Fundamental Global Inc. (FG Nexus) has entered an agreement to sell a majority stake of its FG Reinsurance Division (FGRe) to Devondale Holdings LLC, led by renowned industry veteran Tom Heise. As part of the transaction, FG Nexus will reportedly receive $3.3 million cash, a $1.25 million note, and 40% equity ownership of Devondale. …

FG Nexus to sell FG Reinsurance Division, Heise to serve as CEO

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. This strategic transaction intends to position the new entity as a pioneer in tokenized reinsurance. The deal will see FG Nexus receive $3.3 million cash, a $1.25 million note, and retain 40% equity ownership in Devondale. “This transaction sharpe…