The total number of new companies set up in Bermuda this year reached 41, according to the latest figures released by The Bermuda Monetary Authority (BMA) yesterday.During November three special purpose insurers (SPI) and one class two re/insurer were formed.Golden State Re Ltd, an SPI, was incorporated by Kane (Bermuda) Ltd on November 15, followed by class two re/insurer Agent Alliance Reinsurance Company Ltd, which was launched by Risk Services (Bermuda) Ltd on November 18.Compass Re Ltd was formed by Aon Insurance Managers (Bermuda) Ltd on November 24 and Tramline Re Ltd by Marsh IAS Management Services Ltd five days later, both SPIs.