Argus Group Holdings Ltd’s shares soared nearly 16 per cent in Bermuda Stock Exchange trading.

The insurer’s shares climbed 54 cents, or 15.9 per cent, to close on $3.94, as 3,000 shares changed hands.

Argus was the only stock to trade on Friday.

The Royal Gazette/BSX Index gained 10.8 points, or 0.37 per cent, to close on 2,917.34.

For the week, the index gained 1.41 per cent, driven by a 1.7 per cent increase in Butterfield Bank’s shares price to $52.

In New York, Butterfield’s US-listed shares climbed 36 cents, or 0.7 per cent, to close on $51.86.

The BSX Insurance Index gained 1.3 points, or 0.08 per cent, to close on 1,679.73.