A new class 4 insurer and two sidecars were among the new insurance companies to incorporate in Bermuda last month.

Class 4 insurer Sirius International Insurance Corporation set up on July 6, regulator the Bermuda Monetary Authority said.

The incorporation appears to be part of the White Mountains Insurance Group, Ltd.'s reorganisation of its reinsurance business by converting its Bermuda reinsurance operations into a branch of White Mountains Re Sirius.

White Mountains announced last week that Warren Trace, currently president and CEO of White Mountains Re Bermuda, will remain in charge of the Bermuda branch operations, reporting to Goran Thorstensson, president and CEO of Sirius.

The reorganisation is expected to be effective on September 1, 2009 pending regulatory approvals.

Two sidecars were also set up under the BMA's Special Purpose Insurer class.

LSF Re II International Finance LP and LSF VII International Finance LP were incorporated on July 14.

Torus Insurance (UK) Ltd. a Class 3 insurance company, was set up by 2008 Bermuda start-up Torus Insurance Holdings Ltd. on July 21.

Newly-incorporated firms now total 28 for 2009.