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RenaissanceRe: 3Q Earnings Snapshot

·1 min read

PEMBROKE, Bermuda (AP) _ RenaissanceRe Holdings Ltd. (RNR) on Tuesday reported third-quarter profit of $55.1 million.

The Pembroke, Bermuda-based company said it had profit of 94 cents per share. Losses, adjusted for one-time gains and costs, came to $2.64 per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $2.03 per share.

The insurance company posted revenue of $1.33 billion in the period. Its adjusted revenue was $1.11 billion.

RenaissanceRe shares have fallen 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $172.13, a decline of almost 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RNR at https://www.zacks.com/ap/RNR