PEMBROKE, Bermuda (AP) _ RenaissanceRe Holdings Ltd. (RNR) on Tuesday reported third-quarter earnings of $45.9 million.
On a per-share basis, the Pembroke, Bermuda-based company said it had profit of 83 cents. Earnings, adjusted for one-time gains and costs, came to 29 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The insurance company posted revenue of $1.05 billion in the period. Its adjusted revenue was $1.02 billion.
RenaissanceRe shares have increased 40% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $186.86, a climb of 49% in the last 12 months.