earnings
confidence high
sentiment negative
materiality 0.75
CNA Q2 net income $205M ($0.75/sh) vs $368M; core income $245M; P&C combined ratio 91.0%
CNA FINANCIAL CORP
2022-Q2 EPS reported
$1.90
revenue$5,811,000,000
- Net income of $205M ($0.75 per share) versus $368M ($1.35) in prior-year Q2; core income $245M ($0.90) versus $341M ($1.25).
- P&C combined ratio improved to 91.0% (lowest in 5+ yrs); underlying combined ratio 90.8% (lowest ever).
- Gross written premiums ex-captives up 17%; net written premiums up 20% (13% adjusting for property quota share treaty).
- Net investment income $432M pretax, down $159M; LP and common stock returned -0.7% vs 8.3% prior year.
- Corporate & Other core loss of $78M includes $51M after-tax charge for legacy mass tort abuse claims.