Swiss Re, the world's second-largest reinsurer, said on Thursday that second-quarter net profit rose 2 percent on fewer natural disasters in the period and a healthy return on its investment portfolio, but missed analyst expectations.
The Zurich-based firm said it is on track to meet its targets, which include hiking earnings per share by 10 percent annually, after paying special dividends.
Net profit for the three months rose to $820 million, from $802 million. This missed analysts' estimates, which averaged $835 million in a Reuters poll. Shares of the firm closed 1.4 percent lower on Thursday.
Chief Financial Officer David Cole told CNBC on Thursday that the company's latest earnings were not disappointing, despite missing analyst expectations.
"I would say it was a very modest miss and wouldn't want to focus on that too much...From our point of view, we continue to be well on track with our financial targets."