Three insurance companies set up in business in Bermuda over the last month, according to the latest figures from the Bermuda Monetary Authority (BMA).

The BMA's list of insurance incorporations through February 2009 revealed that Class 3 insurer Sumit Insurance Co. Ltd. was formed by Aon Insurance Managers (Bermuda) Ltd. on February 2, Class 2 insurer Seven Oaks Insurance Ltd. was created the following day by Marsh Management Services (Bermuda) Ltd. and Engineering Consultants Underwriters Ltd., a Class 1 insurance company, was started up by Independent Management Group Ltd. on February 9.

They join the four companies incorporated on the Island in January, including American Home Assurance Co., Grand Indemnity Co. Ltd., Alphacat Reinsurance Ltd. and Thermo Fisher Re Ltd.