Southwest Business Corporation, a San Antonio-based diversified financial services company, announced yesterday that it has formed a reinsurance company in Bermuda.

Historically, Southwest Business Corporation has provided insurance, mortgage and investment services to financial institutions, businesses and individuals. According to the company's Web site, the firm, which started up in 1976, has been providing tailored insurance programs through an affiliation with Lloyd's since 1990.

In a statement, the company said it found it necessary after a period of tremendous growth over the past three years to set up the new Bermuda reinsurer–called SWBC RE, Ltd.–to enhance products and services it's been providing to clients.

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