Declining stock value in the insurance sector and a slight drop in the value of Butterfield Bank shares led the Royal Gazette / Bermuda Stock Exchange to a 21.69 point (0.4 percent) drop to 5164.7.

Shares of BF&M lost 50 cents (2.8 percent) to finish at $19 after 3,500 were traded.

Also falling in value were Argus Group stock, which slipped five cents (0.3 percent) to $15 after 597 were exchanged.

Butterfield Bank also lost ground with a 25 cent (0.4 percent) drop to $59.50 after 69,399 changed hands.

The only other activity on the Exchange was the trading of 26 shares of Belco, which did not alter the closing price of $23.80.

The total number of shares traded was 73,522, valued at $4,238,981.60.