The Royal Gazette/Bermuda Stock Exchange Index fell 55.55 points yesterday to close at 4,897.26.

In moderate but active trading, Argus fell $1.50 to close at $13 as investors traded in 11,500 shares and Bermuda Commercial Bank fell 45 cents to close at $10 on volume of 9,700 shares.

Butterfield Bank traded in 3,300 shares to close unchanged at $56.50 and Kentucky Fried Chicken traded in 2,500 shares to close unchanged at $6.

Meanwhile 1,600 KeyTech shares changed hands to close unchanged at $15.55.

The total value of the shares bought and sold on the BSX yesterday was $472,830 and the overall volume of shares was 28,600 shares.

The Bermuda Insurance Index closed up 1.76 percent to 1,192.57.

IPC Re, which released its earnings on Tuesday, closed down $1 to $29.90 while XL Capital dropped 94 cents to $70.11.

Ace Ltd., the third company to release its third quarter results, was up 65 cents after earlier falling.

Also falling were Everest Re, down 86 cents to $100.33 and Endurance, which released its results after the market close, was down 58 cents to $34.68.

RenaissanceRe was down 37 cents to $55.90.