Nayms’ First Secondary Trade of Tokenised Insurance Assets

On 9 November 2023, the first secondary trade of participation tokens (p-tokens) on Nayms’ platform was successfully transacted. P-tokens represent an investor’s economic interest in the assets of a Nayms insurance pool. In seeking to exit a capital position before a pool is formally wound up, p-token holders can list their p-tokens for sale on Nayms’ internal matching market at a price of their choosing. The buyer who purchases the p-tokens at the limit price or at another suggested market-clearing price becomes the new pro rata owner of the tokenised insurance assets.

This first secondary trade occurred in relation to the crypto-denominated industry loss warranty (ILW) that Nayms issued on 1 July 2023, another first of its kind. Over 50% of the instrument’s capital was swapped between two capital providers through digital transactions that were immutably recorded and seamlessly reconciled on the Ethereum blockchain. When the ILW is commuted at the end of its on-risk and reporting periods, the investors holding p-tokens are entitled to a distribution of the pool’s assets, inclusive of principal and profits, in proportion to their p-token holding. This distribution, once triggered, is allocated automatically by Nayms’ smart contract.

Nayms’ first secondary trade of tokenised insurance assets highlights the power of its blockchain-enabled platform to grant investors transparent, secure and liquid access to insurance opportunities across a range of business lines. Nayms offers qualified investors the ability not only to invest in insurance opportunities that are traditionally reserved for insiders but also to trade their positions based on personal preference and need with relative ease. By tokenising insurance assets and settling trades on-chain, Nayms is revolutionising the insurance sector.

Get involved in new investment opportunities which allow investors to diversify their portfolios, access untapped markets, and benefit from the growth potential of the evolving insurance landscape with potential returns as follows:

• InsurAce: 11–14% Target ROI
• Node: 9–12% Target ROI

Join in this exciting journey as we redefine the future of insurance. We look forward to welcoming you on Nayms! For more information and to explore our improved user experience, please visit nayms.com or contact our team at hello@nayms.com.

About Nayms
Nayms is the world’s leading, fully regulated marketplace for on-chain insurance. They are paving the way in providing a new digital asset risk market that allows regulated brokers and underwriters to find digital asset capital providers to share in the premium and liability covering digital asset risk. Nayms’ traceable smart contract is built on a trustless system, meaning insurance brokers can place a contract between market participants in a limitless number of areas and share in the future value of such open trade.