PEMBROKE, Bermuda (AP) _ Arch Capital Group Ltd. (ACGL) on Tuesday reported third-quarter net income of $382.1 million.
The Pembroke, Bermuda-based company said it had net income of 92 cents per share. Earnings, adjusted for non-recurring gains, were 63 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The property and casualty insurer posted revenue of $1.68 billion in the period. Its adjusted revenue was $1.6 billion.
Arch Capital shares have increased 54% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.03, an increase of 53% in the last 12 months.