Third Point Reinsurance posts 3Q profit

PEMBROKE, Bermuda (AP) _ Third Point Reinsurance Ltd. (TPRE) on Wednesday reported third-quarter earnings of $54.7 million.

On a per-share basis, the Pembroke, Bermuda-based company said it had net income of 52 cents.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The property and casualty reinsurance company posted revenue of $194.9 million in the period.

Third Point Reinsurance shares have climbed 42 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.40, a climb of 38 percent 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 TPRE at https://www.zacks.com/ap/TPRE