CNA transfers $1.045B pension obligations to MetLife; expects $370M non-cash charge in Q4

CNA FINANCIAL CORP

Entered commitment agreement with Metropolitan Life Insurance Co. on Oct 3, 2024 to buy group annuity contract transferring ~$1,045M of pension obligations.
Transaction covers ~7,600 participants (~60% of Plan's obligations); payments effective Jan 1, 2025.
Closing expected Oct 10, 2024; no changes in benefits for transferred participants.
One-time non-cash pretax charge ~$370M ($290M net of tax) in Q4 2024; no impact on core income or cash flow.
Funded directly by Plan assets; no company cash contribution required.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.