PEMBROKE, Bermuda (AP) _ Axis Capital Holdings Ltd. (AXS) on Wednesday reported first-quarter net income of $108.8 million.
The Pembroke, Bermuda-based company said it had net income of $1.16 per share. Earnings, adjusted for non-recurring costs, were $1.24 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The insurance company posted revenue of $1.26 billion in the period. Its adjusted revenue was $1.25 billion.
Axis Capital shares have increased 12 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57.95, an increase of almost 2 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 AXS at https://www.zacks.com/ap/AXS