PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — RenaissanceRe Holdings Ltd. (RNR) on Wednesday reported first-quarter profit of $170 million.
The Pembroke, Bermuda-based company said it had profit of $3.27 per share. Losses, adjusted for non-recurring gains, were $1.49 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.
The insurance company posted revenue of $3.47 billion in the period. Its adjusted revenue was $3.13 billion, which topped Street forecasts. Four analysts surveyed by Zacks expected $2.9 billion.
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