PEMBROKE, Bermuda (AP) _ Arch Capital Group Ltd. (ACGL) on Wednesday reported third-quarter earnings of $419.9 million.

On a per-share basis, the Pembroke, Bermuda-based company said it had profit of 98 cents. Earnings, adjusted for non-recurring gains, came to 74 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The property and casualty insurer posted revenue of $2.1 billion in the period. Its adjusted revenue was $2.01 billion.

Arch Capital shares have climbed 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.33, a rise of 45% 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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