PEMBROKE, Bermuda (AP) _ Arch Capital Group Ltd. (ACGL) on Wednesday reported first-quarter earnings of $195.8 million.

On a per-share basis, the Pembroke, Bermuda-based company said it had profit of 48 cents. Earnings, adjusted for non-recurring costs, came to $1.10 per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The property and casualty insurer posted revenue of $1.94 billion in the period. Its adjusted revenue was $2.19 billion.

Arch Capital shares have increased roughly 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $47.93, a climb of 18% in the last 12 months.

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

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