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Increase in ownership by the Bermudian-based fund comes just as insurer battles for big stock holding of rival

Argus’s purchase of stake in insurer may now be a far less attractive deal for the buyer

Key highlights include gifts to charity, diversity training and scholarships

The company said starting on July 1 it may purchase up to 150,000 shares over the next year

Gross premiums written within core insurance businesses increased by $6.0 million, or approximately 4.0 per cent

The ratings will remain under review with developing implications pending regulatory approvals from the Bermuda Monetary Authority and purchase of shares by Argus

Insurance firm says it is disappointed that a $100m sale of almost 40 per cent of its shares to a direct competitor has been agreed

The Royal Gazette/BSX Index closed down 25.62 points yesterday

The Royal Gazette/BSX Index closed unchanged on Monday

The Royal Gazette/Bermuda Stock Exchange Index closed down 3.16 per cent after trading took place on the Exchange for the first time all week. The Index closed down 79.97 points to 2453.69 on volume of 23,218 shares worth $279,320. Bank of Butterfi...

Argus Group Holdings Limited has reported net income for the six months to September 30 of $26.3 million, compared with $8.1 million in the previous year. Argus chief executive Alison Hill said: “The financial results for the six months to September ...

An insurance company chief executive who built his firm into a major player discovered his calling after he landed a job at the island’s weather service. John Sainsbury became chief executive officer and managing director of the Argus Group in 1981 ...