(Bloomberg) — Zurich Insurance Group AG, the biggest Swiss insurer, said the target for its general insurance business was “challenging” after natural catastrophe losses cut second-quarter profit by 27 percent.

Net income dropped to $789 million from $1.09 billion a year ago, the Zurich-based company said in a statement today. That missed the $823.8 million average estimate of five analysts surveyed by Bloomberg. The shares fell the most in three months.

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