CNA Financial Stock Price, News & Analysis

CNA announced the passing of Marvin Zonis, a long-serving member of its Board of Directors, who contributed to the company since 1993. Zonis held key roles on the Finance, Audit, and Compensation Committees, influencing critical company decisions. He was also the principal of Marvin Zonis & Associates, an international consulting firm, and a Professor Emeritus at the University of Chicago, where he championed international student scholarships. The company expressed condolences to his family during this difficult time.

CNA Financial Corporation (NYSE: CNA) reported a strong third quarter 2020, achieving net income of $213 million or $0.79 per share, double that of the prior year. Core income rose to $193 million from $102 million. The Property & Casualty segment showed improved underwriting results, contributing $247 million in core income, despite higher catastrophe losses totaling $160 million. Life & Group experienced a core loss of ($35) million, largely due to a $59 million charge from reserve adjustments. A quarterly dividend of $0.37 per share was announced.

CNA Financial Corporation (NYSE: CNA) will announce its third quarter 2020 results on November 2, 2020, before market opening. The earnings release, presentation, and financial supplement will be accessible on www.cna.com. An investor conference call is scheduled for 8 a.m. CT, hosted by Dino E. Robusto, CEO. Participants can dial in at (800) 289-0571 or +1 (720) 543-0206 for international calls. Online replays will be available post-call. CNA specializes in property and casualty insurance and manages approximately $45 billion in invested assets.

CNA has appointed Santosh Bardwaj as Senior Vice President and Chief Data & Analytics Officer, effective September 14, 2020. Bardwaj will oversee the company's enterprise data and analytics functions, reporting to Michael Costonis, COO. He brings over 20 years of technology leadership experience, previously serving at Discover Financial Services and Capital One. His expertise will enhance CNA's analytics capabilities and leverage cloud-based technologies across the insurance value chain.

CNA Financial Corporation (NYSE: CNA) has announced the pricing of a public offering of $500 million in 2.050% senior notes due August 15, 2030. Priced at 99.748% of principal, the offering is expected to close on August 14, 2020. The funds will primarily be used to repurchase $400 million of existing 5.750% notes due August 15, 2021, with the remainder allocated for general corporate purposes. The offering is managed by leading financial institutions including J.P. Morgan and Wells Fargo.

CNA Financial Corporation (NYSE: CNA) has renewed the employment agreement of Chairman & CEO Dino E. Robusto, extending his tenure through 2024. Since December 2016, Robusto has fostered a strong underwriting culture and talent retention across the company. Notably, CNA's P&C combined ratio has improved annually, while Core Income reached $2.7B over the past three years, the highest in two decades. This performance has led to consistent dividend increases and positive ratings from agencies such as Moody's and Standard & Poor's, which upgraded CNA to A+ in 2019.

CNA Financial Corporation (NYSE: CNA) reported Q2 2020 net income of $151 million ($0.55 per share) and core income of $99 million ($0.36 per share). The Property & Casualty Operations combined ratio was 112.3%, affected by $301 million in net catastrophe losses, including $182 million linked to COVID-19. Despite the challenges, gross written premiums increased by 8% and net written premiums by 4%. A quarterly dividend of $0.37 per share was declared, payable on September 3, 2020.

CNA Financial Corporation (NYSE: CNA) will announce its second quarter 2020 results before the market opens on August 3, 2020. Investors can access the news release and financial information on CNA's website. A conference call will be held at 8 a.m. CT, led by Dino E. Robusto, Chairman & CEO. Participants can join by dialing (800) 289-0571 or +1 (720) 543-0206 for international callers. A replay will be available on CNA's site post-call. CNA is a leading commercial property and casualty insurer, with over $45 billion in assets.

CNA has launched The View From Home, a program aimed at providing eligible long-term care policyholders with additional support to age in place. This initiative, developed in partnership with The Helper Bees, includes a complimentary, 12-month Care Concierge program. Although not an insurance benefit, this program offers personalized assistance in navigating long-term care resources and local services. It aims to help individuals find necessary services like meal delivery, home safety assessments, and medication management.