PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — RenaissanceRe Holdings Ltd. (RNR) on Tuesday reported first-quarter net income of $293.4 million.
The Pembroke, Bermuda-based company said it had profit of $6.57 per share. Earnings, adjusted for non-recurring costs, were $13.75 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $11.07 per share.
The insurance company posted revenue of $2.19 billion in the period. Its adjusted revenue was $2.61 billion, missing Street forecasts. Three analysts surveyed by Zacks expected $2.91 billion.
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