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Local fund is steadily increasing its stake in and influence over the insurer

Argus Wealth Management also appointed Rickai Binns as wealth manager and Julanda Lodge as senior operations manager

Equilibria, which owns 23.9 per cent of the insurer, says the deal may not make much sense

The insurer is doing well as measured by a number of key metrics

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