Third Point Reinsurance posts 1Q profit

<p>PEMBROKE, <location value="LC/bm" idsrc="xmltag.org">Bermuda</location> (AP) _ <org value="NYSE:TPRE" idsrc="xmltag.org">Third Point Reinsurance Ltd.</org> (TPRE) on Thursday reported first-quarter profit of <money>$50.5 million</money>.</p><p>On a per-share basis, the Pembroke, <location value="LC/bm" idsrc="xmltag.org">Bermuda</location>-based company said it had profit of <money>47 cents</money>.</p><p>The results missed <location>Wall Street</location> expectations. The average estimate of four analysts surveyed by <org value="ACORN:0575874126" idsrc="xmltag.org">Zacks Investment Research</org> was for earnings of <money>48 cents</money> per share.</p><p>The property and casualty reinsurance company posted revenue of <money>$204 million</money> in the period.</p><p><org value="NYSE:TPRE" idsrc="xmltag.org">Third Point Reinsurance</org> shares have declined roughly 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit <money>$13.96</money>, a decrease of slightly more than 9 percent in the last 12 months.</p><p>This story was generated by Automated Insights (<a href="http://automatedinsights.com/ap">http://automatedinsights.com/ap</a>) using data from Zacks Investment Research. Access a <org>Zacks</org> stock report on TPRE at <a href="http://www.zacks.com/ap/TPRE">http://www.zacks.com/ap/TPRE</a></p><p>Keywords: <org value="NYSE:TPRE" idsrc="xmltag.org">Third Point Reinsurance</org>, Earnings Report</p>