1.62 percent to finish at 1,385.69 on a volume of 74,465 shares valued at $1.14 million.

Bank of Bermuda warrants fell 11 percent, or $1.25 in value, to close at $10., while Bank of Bermuda shares dropped 50 cents $29 on light volume.

Bank of Butterfield shares lost 3.13 percent of their value as they closed down 50 cents to $15.50.

Elsewhere, Devonshire Indusries fell $1, or seven percent, to close at $12.75.

Bermuda Telephone Co. fell $1 to close at $31. Belco Holdings was the only gainer for the week, rising 50 cents to close at $22.

The FSE-BSX Insurance index dropped 29.57 points or 4.17 percent to close at 738.92 as local insurance companies were hurt by continued declines in the US stock markets.