RenaissanceRe Holdings Ltd. (RNR) reported first-quarter net income available to common shareholders of $190.4 million, down from $201.4 million last year.
However, on a per share basis, profit rose to $4.23 from $3.88, owing to lower number of outstanding shares in comparison to the year-ago quarter.
Operating income available to common shareholders was $176.6 million or $3.92 per common share for the first quarter of 2013, compared to $155.5 million or $1.98 in the same quarter of 2012.
Analysts polled by Thomson Reuters expected the company to report earnings of $3.06 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, total revenues for the quarter decreased to $343.31 million from $356.53 million in the year ago quarter. Five analysts had consensus revenue estimate of $331.29 million for the current quarter.
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