PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — RenaissanceRe Holdings Ltd. (RNR) on Tuesday reported first-quarter net income of $373.6 million.

The Pembroke, Bermuda-based company said it had net income of $6.94 per share. Earnings, adjusted for non-recurring costs, were $12.18 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $9.86 per share.

The insurance company posted revenue of $2.6 billion in the period. Its adjusted revenue was $2.83 billion, also beating Street forecasts. Four analysts surveyed by Zacks expected $2.68 billion.

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