The number of new companies setting up in Bermuda doubled for the year with 10 firms registering with the Bermuda Monetary Authority (BMA) during the month of May.Class 3 insurer IECD (SAC) Ltd was formed by Symphony Management Ltd on May 6, followed by Class 3A re/insurer DEL Re Ltd by Marsh IAS Management Services Ltd on May 9.Marsh IAS Management Services also registered Libra PO Re (Bermuda) Ltd and Libra Re (Bermuda) Ltd, both 3A re/insurers, the following day, while Aeolus Capital Management Ltd launched Aeolus Re MY11 SPI Ltd on May 11.Fellow special purpose insurer (SPI) Accordion Reinsurance Ltd was set up by JLT Insurance Managers (Bermuda) Ltd on May 25, with Class 1 insurer OE Insurance Ltd starting on Aon Insurance Managers (Bermuda) Ltd on May 27.On the same day HSBC Insurance Management (Bermuda) Ltd registered Pangaea Reinsurance II and II Ltd, both SPIs, and Horseshoe Management Ltd formed Shoreline Re Ltd, another SPI.