The Royal Gazette/Bermuda Stock Exchange Index lost 13.32 points yesterday to close at at 3,291.21.

Butterfield Bank was the only stock to record movement with investors trading 3,726 shares and pushing down the price 30 cents to $41.20.

The Bermuda Insurance Index rose 3.93 points or 0.35 percent to close at 1131.07.

Most Bermuda-based insurance companies saw their stock prices rise as it appeared Hurricane Dennis would cause less damage in Florida and the southern USstates than originally feared.

XL Capital, whose share price was battered on Friday after it announced it was increasing its reserves and would see a lower than projected second quarter profit, slipped four cents to close at $70.97.

RenaissanceRe, which announced the resignation of senior executive Michael Cash, who had refused to cooperate with a Securities and Exchange Commission investigation, closed down 70 cents at $46.90 after earlier falling as low as $45.50.