earnings
confidence high
sentiment negative
materiality 0.75
CNA Q3 2022 net income $0.47/share; core income $0.78; P&C combined ratio improves to 95.8%
CNA FINANCIAL CORP
2022-Q3 EPS reported
$2.37
revenue$8,768,000,000
- Net income $128M ($0.47/diluted share) vs $256M ($0.94) in prior year quarter; core income $213M ($0.78) vs $237M ($0.87).
- P&C underlying combined ratio 91.1% consistent YoY; all-in combined ratio 95.8% improved from 100.0% on lower catastrophe losses.
- Catastrophe losses $114M (includes $87M for Hurricane Ian) vs $178M in prior year quarter; gross written premium ex-captives grew 9%.
- Book value per share $29.88 (-37% from year-end 2021); book value ex-AOCI $45.16 (+5% adjusted for $3.20 dividends per share).
- Life & Group core loss $(22)M vs income $41M, driven by lower LP investment income; quarterly dividend $0.40 declared.