PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — RenaissanceRe Holdings Ltd. (RNR) on Tuesday reported fourth-quarter earnings of $1.59 billion.

The Pembroke, Bermuda-based company said it had net income of $30.43 per share. Earnings, adjusted for investment gains, came to $11.77 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $8.13 per share.

The insurance company posted revenue of $3.24 billion in the period. Its adjusted revenue was $2.63 billion, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.2 billion.

For the year, the company reported profit of $2.56 billion, or $52.27 per share. Revenue was reported as $8.72 billion.

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