PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — RenaissanceRe Holdings Ltd. (RNR) on Tuesday reported fourth-quarter profit of $760.5 million.
On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $16.75. Earnings, adjusted for non-recurring gains, were $13.34 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $10.59 per share.
The insurance company posted revenue of $2.97 billion in the period. Its adjusted revenue was $2.78 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.95 billion.
For the year, the company reported profit of $2.68 billion, or $56.03 per share. Revenue was reported as $11.61 billion.
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