Greenlight Capital Profit Rises

(RTTNews) - Insurer Greenlight Capital Re Ltd. (GLRE) Wednesday reported third-quarter net income of $57 million or $1.50 per share compared with $46 million or $1.23 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $1.30 per share on revenues of $164.55 million for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew modestly to $213.34 million from $212.2 million a year ago.

Earned premiums for the quarter climbed to $164 million from $116.6 million in the prior year.

Results were helped by a decrease in expenses to $155 million from $165 million last year.