It proved to be a quiet month for new incorporations in Bermuda, with only two reinsurance companies setting up in June. The firms were both Class 3 reinsurers, Tiberius Reinsurance Co. Ltd., which formed on June 11, and Cavu Re, which started up on June 23.

The previous month saw just three companies incorporate on the Island, including Cataline Insurance Ltd., Claddaugh Casualty Insurance Co. Ltd. and Globe Re.