Shares of Ascendant Group, the parent company of Belco, fell by 48 cents, or 5.3 per cent, to $8.52 after 900 traded on The Royal Gazette/BSX Index.

There were no other trades on the index, which closed 4.63 points lower, or 0.23 per cent, at 1,975.75.

On the New York Stock Exchange, shares of Butterfield Bank were 92 cents lower, or 2.78 per cent, at $32.18.

The BSX Insurance Index was down 71.96 points, or 3.88 per cent, at 1,783.67.