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CHICAGO - CNA Financial Corporation (NYSE:CNA) reported second quarter 2025 core income of $335 million, or $1.23 per share, exceeding analyst estimates of $0.98 per share.
Despite the strong performance, shares edged down 0.62% in after hours trading following the announcement.
The insurance company’s core income increased 3% from $326 million, or $1.19 per share, in the prior year quarter. Revenue growth was solid, with Property & Casualty segments generating 5% growth in gross written premiums and 6% growth in net written premiums, excluding third-party captives.
Net investment income rose 7% to $662 million pretax, reflecting increases in both fixed income securities and limited partnership returns. The company’s P&C combined ratio improved to 94.1% from 94.8% in the prior year quarter, with catastrophe losses of $62 million representing 2.4 points of the loss ratio, down from 3.5 points a year earlier.
"Core income was $335 million in the quarter, up $9 million over last year. Our underwriting gain was $150 million, up 21%, and our underlying underwriting gain of $213 million represents the ninth consecutive quarter of $200 million or more," said Douglas M. Worman, President & Chief Executive Officer of CNA Financial Corporation.
The company’s Corporate & Other segment reported a core loss of $114 million compared to $53 million in the prior year quarter, primarily due to an $88 million after-tax charge related to unfavorable prior period development associated with legacy mass tort.
Book value per share excluding AOCI was $45.25, a 4% increase from year-end 2024 when adjusting for dividends paid. The Board of Directors declared a regular quarterly cash dividend of $0.46 per share, payable September 4, 2025, to stockholders of record on August 18, 2025.
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