Overture Re is setting up in Bermuda as a new life reinsurance company.

Parent company Overture Acquisition Corp. said yesterday that the new reinsurer had received its long-term insurance certification of registration from insurance regulator the Bermuda Monetary Authority (BMA).

The registration allows Overture Re to provide reinsurance for Texas firm Jefferson National Life Insurance Company.

Overture expects that the registration will be extended by the BMA to other third party business in due course.