Shares of Ascendant Group Ltd, the parent of Belco, fell $10.34, or 31.3 per cent, to $24.02 after 200 traded on The Royal Gazette/BSX Index.

There was also trading in 6,000 shares of One Communications Ltd, but with no change to the closing price of $33.50.

In New York, shares of Butterfield Bank were down 14 cents, or 0.4 per cent, at $34.84.

The Royal Gazette/BSX Index closed 105.52 points, or 4.44 per cent lower, at 2,272.02, while the BSX Insurance Index was down 68.07 points, or 4.15 per cent at 1,572.46.