Validus Holdings Q3 Profit Down

(RTTNews) - Validus Holdings Ltd. (VR) Thursday reported third-quarter net income of $183.4 million or $1.77 per share, down from $207.3 million or $2.11 per share last year.

Net operating income for the quarter dropped to $155.2 million or $1.50 per share from $170.6 million, or $1.74 per share a year ago. On average, 11 analysts polled by Thomson Reuters expected earnings of $1.38 per share for the quarter. Analysts' estimates typically exclude special items.

Net premiums earned for the period rose to $531.3 million from $475.1 million a year ago. Analysts estimated revenues of $542.14 million for the quarter.