The Royal Gazette/Bermuda Stock Exchange Index yesterday lost 3.30 points to close at 3,614.44.

The Index's decline was led by Argus Insurance Company Ltd., which lost 25 cents and closed at $26.25 after investors traded 13,599 shares.

Butterfield Bank was unchanged at $43.50 on volume of 12,241 shares, while Bermuda Press Holdings Ltd. ? the parent company of The Royal Gazette ? also held at $13 after investors traded 2,200 shares. Belco Holdings Ltd. also closed unchanged at $41 after investors traded 100 shares.

The BSX Insurance Index edged up 0.07 points or 0.01 percent to 1135.53 in mixed trading.

Catastrophe reinsurers IPC Re gained 1.12 percent to close at $40.55 while fellow Class of 1993 reinsurers RenaissanceRe and Partner Re were up 0.95 percent to $45.35 and 0.36 percent to $61.10 respectively.

Insurance guaranty company Primus fell 5.41 percent to $11.19 and Scottish Re was off 1.8 percent to $23.47.