FG Nexus Inc. has announced the completion of the sale of its FG Reinsurance Division to Devondale Holdings, LLC. This transaction, which was initially agreed upon in a transaction agreement dated June 27, 2025, and finalized on March 23, 2026, involved the sale of 100% of the equity of FG Re and FG Solutions Ltd. As part of the deal, Devondale will pay an additional $1 million in cash to FG Nexus. The sale also includes the release of $3.3 million of collateral previously posted by FG Reinsurance Holdings, LLC (FGRH) in connection with certain reinsurance contracts. Furthermore, FG Nexus will retain a promissory note for $1.25 million, which accrues interest at a rate of 6% per annum, with all principal and interest due by June 30, 2027. This strategic move is expected to enhance FG Nexus's liquidity position and streamline its operations, although the immediate impact on stock price is anticipated to be modest.

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