earnings
confidence high
sentiment positive
materiality 0.75
CNA Q1 net income $297M, core income +9% to $325M; P&C underwriting record $197M
CNA FINANCIAL CORP
2023-FY EPS reported
$1.09
revenue$3,152,000,000
- Net income $297M ($1.09 EPS) vs $295M ($1.08); core income $325M ($1.19) up 9%.
- P&C core income $346M vs $321M; record pretax underlying underwriting income $197M; net investment income +17% to $525M.
- P&C combined ratio 93.9% (2.4 pts catastrophe losses); underlying combined ratio improved 0.6 pts to 90.8%.
- P&C gross written premium ex captives +11%; net written premium +11%; renewal premium change +7%, rate +5%.
- Book value per share ex AOCI $44.21 (+2% adj. for dividends); quarterly dividend $0.42 declared.