CNA Financial SEC Filings

CNA Financial Corporation EVP & CAO Daniel Paul Franzetti reported stock-based compensation activity. He was granted 33,094 shares of common stock at no cost as a Performance Share Plan award tied to 2025 financial goals. These shares are scheduled to cliff vest on March 15, 2028, assuming continuous employment, subject to award terms and any employment agreement.

To cover tax withholding obligations, 18,018 common shares were withheld at $47.03 per share. After these transactions, Franzetti directly holds 90,688 shares of CNA common stock. The filing reflects routine incentive compensation rather than open-market trading.

CNA Financial Corporation executive Elizabeth Ann Aguinaga, EVP and Chief HR Officer, reported compensation-related stock transactions. She was granted 19,888 performance share plan (PSP) shares for the 2025 performance cycle, which will cliff vest on March 15, 2028, contingent on continued employment and award terms. The filing notes she received these CNA shares at no cost. On the same date, 11,512 common shares at $47.03 per share were withheld to cover tax obligations under the company’s incentive compensation plan. After these transactions, she directly holds 68,181 shares of CNA common stock.

CNA Financial Corp reported that SVP & Chief Accounting Officer Amy Marie Smith received an award of 4,773 shares of common stock at no cost under the company’s Performance Share Plan for the 2025 performance cycle. According to the plan, these shares will cliff vest on March 15, 2028, provided she remains continuously employed, subject to any award terms or employment agreement. On the same date, 1,787 shares were withheld at $47.03 per share to satisfy tax obligations, a non-market disposition. After these compensation-related transactions, she directly holds 24,357 common shares.

CNA Financial Corp executive vice president and chief actuary Robert Joseph Hopper reported compensation-related stock activity. He was granted 19,888 shares of common stock under the Performance Share Plan for the 2025 performance cycle, which will cliff vest on March 15, 2028, subject to continued employment and award terms. The shares were received at no cost. To satisfy tax withholding obligations, 12,758 shares of common stock were withheld at $47.03 per share. After these transactions, Hopper directly holds 85,808 shares of CNA common stock.

CNA Financial Corporation executive vice president and chief information officer Jane Elizabeth Possell reported routine equity compensation activity. She was granted 19,888 shares of common stock under the Performance Share Plan for the 2025 performance cycle at a stated price of $0.0000 per share. These performance share awards will cliff vest on March 15, 2028, assuming she remains continuously employed through that date, subject to any award and employment terms.

To cover tax withholding obligations related to the award, 7,006 shares of common stock were disposed of at $47.03 per share through share withholding authorized under the company’s Incentive Compensation Plan. After these transactions, Possell directly holds 57,816 shares of CNA Financial common stock.

CNA Financial Corporation reported that SVP & General Counsel Jeffrey John Neuenschwander received a grant of 3,540 shares of common stock under the company’s Performance Share Plan for the 2025 performance cycle. The filing notes he received these shares at no cost.

These performance shares will cliff vest on March 15, 2028, provided he remains continuously employed by CNA Financial Corporation through that date, subject to award terms and any employment agreement. On the same date, 1,361 shares of common stock were withheld at $47.03 per share to satisfy tax withholding obligations under the company’s incentive compensation plan, leaving him with 10,564 shares owned directly after the withholding transaction.

CNA Financial Corporation filed a Form 13F holdings report detailing its institutional investment portfolio. The summary shows 14 reportable positions with a combined Form 13F information table value of 205,758,460. The report is signed by Senior Vice President and Chief Accounting Officer Amy Smith.

Investment discretion over the reported assets is shared among Loews Corporation, CNA Financial Corporation, The Continental Corporation, and Continental Casualty Company, with each entity disclaiming ownership of securities it does not beneficially own. As of 12/31/2025, Loews owned approximately 92% of CNA, which in turn wholly owned The Continental Corporation and Continental Casualty Company.

CNA Financial Corporation is a large commercial property and casualty insurer operating in the U.S., Canada, the U.K. and Continental Europe, with additional access to Lloyd’s of London business. Its operations are organized into Specialty, Commercial, International, Life & Group, and Corporate & Other segments.

As of December 31, 2025, Loews Corporation owned approximately 92% of CNA’s common stock, giving it effective control over major corporate decisions. CNA had about 6,600 employees and 270,673,371 common shares outstanding as of February 6, 2026. The aggregate market value of non‑affiliate common stock was about $998 million, based on a $46.53 share price on June 30, 2025.

The company highlights extensive regulatory oversight across multiple jurisdictions, exposure to catastrophe, asbestos and environmental liabilities, and mass tort trends such as social inflation and abuse reviver statutes. It also details investment risks from interest rates, credit spreads and market volatility, and describes reliance on reinsurance, models and third‑party vendors.

CNA reports a maturing cybersecurity and risk‑governance framework, including board‑level oversight and a Global Chief Security Officer. A 2025 vendor‑related data breach affected a substantial number of employees and dependents, but CNA states that no cybersecurity threats to date have materially affected, or are reasonably likely to materially affect, the company.

CNA Financial Corporation reported strong fourth quarter and full-year 2025 results. Q4 net income rose to $302 million, or $1.11 per share, compared with $21 million, helped by the absence of prior-year pension settlement losses. Core income for the quarter was $317 million, or $1.16 per share.

For 2025, CNA achieved record net income of $1.278 billion, or $4.69 per share, and record core income of $1.342 billion, or $4.93 per share. Property & Casualty core income rose to $1.664 billion with a full-year combined ratio of 94.7% and an underlying combined ratio of 91.8%, reflecting solid underwriting and lower catastrophe losses.

Book value per share was $42.93, and book value per share excluding AOCI reached $46.99, up 10% from year-end 2024 after dividends. CNA increased its regular quarterly dividend by 4% to $0.48 per share and declared a $2.00 per share special dividend.