PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — RenaissanceRe Holdings Ltd. (RNR) on Wednesday reported third-quarter net income of $1.18 billion.
On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $22.62. Earnings, adjusted for investment gains, were $10.23 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $7.89 per share.
The insurance company posted revenue of $3.97 billion in the period. Its adjusted revenue was $3.01 billion, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.9 billion.
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