PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — RenaissanceRe Holdings Ltd. (RNR) on Tuesday reported third-quarter profit of $916.5 million.
On a per-share basis, the Pembroke, Bermuda-based company said it had net income of $19.47. Earnings, adjusted for investment gains, were $15.62 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $9.49 per share.
The insurance company posted revenue of $3.2 billion in the period. Its adjusted revenue was $2.87 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.98 billion.
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