Swiss Re posts 9% profit increase, on track to meet targets

FRANKFURT, Aug 6 (Reuters) - Reinsurance company Swiss Re said on Thursday that net profit for the first half of the year rose 9%, ahead of expectations, and said it was on track to meet its financial target for the year.

The company said that low large natural catastrophes helped bolster results.

The net profit of $2.83 billion in the period compares with a profit of $2.61 billion a year earlier. Analysts had expected a profit of $2.7 billion, according to a consensus forecast.

"Strong earnings delivery in the first half of the year puts us well on track towards our 2026 financial targets, while we remain vigilant as we approach the peak of the hurricane season," CEO Andreas Berger said.

(Reporting by Tom Sims and Marleen KaesebierEditing by Linda Pasquini)