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Three new insurers in April

Three new insurers were registered last month, bringing the total number of new incorporations for the first four months of the year to ten.In a statement yesterday, regulator the Bermuda Monetary Authority said that Class 3 insurer Aeolus Re Ltd, class 1 insurer P&H Insurance Group Ltd and special purpose insurer AlphaCat Re 2011 Ltd were incorporated in April.In addition, insurance manager Aeolus Capital Management Ltd, the manager of Aeolus Re, was also launched. It is the second insurance management firm to be incorporated this year.