Five new re/insurance companies set up in Bermuda last month, according to the latest statistics released by the Bermuda Monetary Authority (BMA).

The BMA's most recent listing revealed that four Class 3 re/insurers and one long-term insurer incorporated on the Island in June, bringing the total number of firms to 24 for the year.

Athene Life Re Ltd. was formed by International Advisory Services Ltd. on June 9, followed by Keystone Advantage Ltd. by Cedar Management Ltd. on June 18, Q Re (Bermuda) Ltd. and S Re Ltd., both by Horseshoe Management on June 25, and finally Zodiac Re Ltd. by Nautical Management on June 30.