MONDAY, NOVEMBER 14: Two insurance companies set up shop in Bermuda in October, bringing the total number of new insurers to 37 for the year.

The Bermuda Monetary Authority said Highland Re Ltd. and Horseshoe Re II Limited were incorporated as Specialty Purpose Insurers on October 24 and October 26 respectively.

No new intermediaries (agents, managers or brokers) were set up in October.

A total of three agents and three managers have been incorporated in Bermuda so far this year.