The number of insurance companies set up in Bermuda this year rose to 28, according to the latest figures released by The Bermuda Monetary Authority (BMA).

The BMA's Monthly Registration Statistics for October 2010 revealed that two re/insurers were formed on the Island last month. Longhorn Re Ltd., a Class 3A reinsurer, was established by Aon Insurance Manager (Bermuda) Ltd. on October 5 and Amlin AG (Bermuda Branch), a self-managed Class 4 insurer on October 7.

The total number of intermediaries as of the end of October was nine.