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Two insurers set up in November

Two re/insurance companies were incorporated in Bermuda during November, bringing the total for the year to 30, according to the latest statisticws from the Bermuda Monetary Authority (BMA).The BMA Monthly Registration Statistics for November revealed that Pendulum Re Ltd., an SPI, was formed by Horseshoe Management Ltd. on November 18, while Class 2 insurer Aurum Surety Insurance Co. Ltd. was set up by Willis Management (Bermuda) Ltd. the following day.