Bermuda recorded a total of nine new incorporations of insurance and reinsurance companies during the past two months.

The majority of the new companies were formed in January, and included Emstar Re Ltd., the only Class 1 company among the new crop.

Class 2 insurers included Hamilton Reserve Insurance Company Ltd. and Transworld Casualty and Indemnity Insurance Company Ltd. LMI Limited, Smart Home Reinsurance Limited and United Insurance Solutions (Bermuda) Ltd. were all incorporated within the Class 3 category.

Citiinsurance Reinsurance (Bermuda) Ltd., Global Life Ltd. and Innova Insurance Ltd. were all registered in the Long Term class.

No Class 4 companies, the highly-capitalised re/insurers primarily handling high-end excess liability business, were incorporated during the two-month period.