Argus hits 15-year low
Shares of insurer Argus Group Holdings Ltd fell five percent yesterday to hit their lowest point since 1997.
Argus fell 20 cents to $3.80, as 98,584 shares changed hands.
The company has made losses adding up to more than $140 million over the past three years, mostly due to impairments of its stake in Butterfield Bank and other soured investments.
In March this year, ratings agency AM Best affirmed Argus’s B++ financial strength rating with a negative outlook.
Telecommunications group KeyTech Ltd, owner of the Bermuda Telephone Company, fell 20 cents, or 3.7 percent, yesterday to $5.25, to move within five cents of its 52-week low. The fall came on the trading of 900 shares.
The only other trading on the Bermuda Stock Exchange domestic board was in the preference shares of Butterfield Bank, which gained $10 to close on $1,230 on the trading of ten shares.
The Royal Gazette / BSX Index fell 5.55 points, or 0.51 percent to close on 1,099.52.
Volume was 194,094 shares and turnover topped $543,000.
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Published May 5, 2012 at 7:04 am (Updated May 5, 2012 at 7:03 am)