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Cna Financial Corp (CNA) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Cna Financial Corp

CIK: 21175 Ticker: CNA

cnalogoq42016.gif
FOR IMMEDIATE RELEASE

CONTACT:
MEDIA:
 
ANALYSTS:
Brandon Davis, 312-822-5167
 
James Anderson, 312-822-7757
Sarah Pang, 312-822-6394
 
Emma Riza, 312-822-5960
 
 
Robert Tardella, 312-822-4387
CNA FINANCIAL ANNOUNCES FOURTH QUARTER 2016 RESULTS
Q4 NET INCOME OF $241M; $0.89 PER SHARE
Q4 NET OPERATING INCOME OF $221M; $0.82 PER SHARE
2016 P&C COMBINED RATIO OF 95.9% VS 95.4% IN 2015
12/31/2016 BVPS EX AOCI OF $44.89, UP 7% FOR 2016 ADJUSTED FOR DIVIDENDS
SPECIAL DIVIDEND OF $2.00 PER SHARE; QUARTERLY DIVIDEND OF $0.25 PER SHARE
CHICAGO, February 6, 2017 ---
CNA Financial Corporation (NYSE: CNA) today announced fourth quarter 2016 net income of $241 million, or $0.89 per share, and net operating income of $221 million, or $0.82 per share. Full year 2016 results were net income of $859 million, or $3.17 per share, and net operating income of $824 million, or $3.04 per share. Property & Casualty Operations combined ratio for the fourth quarter and full year was 99.9% and 95.9%, respectively.
CNA Financial declared a special dividend of $2.00 per share and a quarterly dividend of $0.25 per share, payable March 8, 2017 to stockholders of record on February 20, 2017.
 
Results for the Three Months Ended December 31
 
Results for the Year Ended December 31
($ millions, except per share data)
2016
 
2015
 
2016
 
2015
Net operating income (loss) (a)
$
221

 
$
(52
)
 
$
824

 
$
515

Net realized investment gains (losses)
20

 
(18
)
 
35

 
(36
)
Net income (loss)
$
241

 
$
(70
)
 
$
859

 
$
479

 
 
 
 
 
 
 
 
Net operating income (loss) per diluted share
$
0.82

 
$
(0.19
)
 
$
3.04

 
$
1.90

Net income (loss) per diluted share
0.89

 
(0.26
)
 
3.17

 
1.77

 
December 31, 2016
 
December 31, 2015
Book value per share
$
44.25
 
 
$
43.49
 
Book value per share excluding AOCI
 
44.89
 
 
 
44.66
 

(a)
Management utilizes the net operating income financial measure to monitor the Company's operations. Please refer herein and to Note J in the Condensed Consolidated Financial Statements within the September 30, 2016 Form 10-Q for further discussion of this non-GAAP financial measure.

1

The following information was filed by Cna Financial Corp (CNA) on Monday, February 6, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Cna Financial Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheet Parentheticals (parentheticals)
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
Consolidated Statements Of Operations Parenthetical (parentheticals)
Consolidated Statements Of Stockholders' Equity
Accumulated Other Comprehensive Income (loss) By Component
Accumulated Other Comprehensive Income (loss) By Component (details)
Accumulated Other Comprehensive Income (loss) By Component (tables)
Benefit Plans
Benefit Plans (actuarial Assumptions For Benefit Obligations) (details)
Benefit Plans (actuarial Assumptions For Net Cost Or Benefit) (details)
Benefit Plans (components Of Net Periodic Cost (benefit)) (details)
Benefit Plans (estimated Future Minimum Benefit Payments To Participants) (details)
Benefit Plans (fair Value Of Plan Assets Measured On A Recurring Basis) (details)
Benefit Plans (funded Status) (details)
Benefit Plans (reconciliation Of Level 3 Plan Assets) (details)
Benefit Plans (schedule Of Amounts Recognized In Other Comprehensive Income) (details)
Benefit Plans (schedule Of Estimated Amounts To Be Recognized From Accumulated Other Comprehensive Income Into Net Periodic Cost (benefit) During Next Fiscal Year) (details)
Benefit Plans (tables)
Benefit Plans Benefit Plans (narrative) (details)
Business Segments
Business Segments (balance Sheet Information) (details)
Business Segments (income Statement Information) (details)
Business Segments (narrative) (details)
Business Segments (revenues By Line Of Business) (details)
Business Segments (tables)
Claim And Claim Adjustment Expense Reserves
Claim And Claim Adjustment Expense Reserves (gross And Net Carried Claim And Claim Adjustment Expense Reserves) (details)
Claim And Claim Adjustment Expense Reserves (impact Of Loss Portfolio Transfer On The Consolidated Statement Of Operations) (details)
Claim And Claim Adjustment Expense Reserves (narrative) (details)
Claim And Claim Adjustment Expense Reserves (net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development For Commercial Segment) (details)
Claim And Claim Adjustment Expense Reserves (net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development For Specialty Segment) (details)
Claim And Claim Adjustment Expense Reserves (net Prior Year Development) (details)
Claim And Claim Adjustment Expense Reserves (reconcilliation Of Claim And Claim Adjustment Expense Reserves) (details)
Claim And Claim Adjustment Expense Reserves (tables)
Claim And Claim Adjustment Expense Reserves Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development For International Segment (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Commercial Reconciliation (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Consolidated Reconciliation (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - International Reconciliation (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Cumulative Paid Claim And Claim Adjustment Expenses Commercial - Auto (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Cumulative Paid Claim And Claim Adjustment Expenses Commercial - General Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Cumulative Paid Claim And Claim Adjustment Expenses Commercial - Workers Compensation (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Cumulative Paid Claim And Claim Adjustment Expenses International Excluding Hardy (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Cumulative Paid Claim And Claim Adjustment Expenses Specialty - Medical Professional Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Cumulative Paid Claim And Claim Adjustment Expenses Specialty - Other Professional And Management Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Cumulative Paid Claim And Claim Adjustment Expenses Specialty - Surety (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses - International - Hardy (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses - International Excluding Hardy (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses Commercial - Auto (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses Commercial - General Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses Commercial - Workers Compensation (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses Specialty - Medical Professional Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses Specialty - Other Professional And Management Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Incurred Claims And Allocated Claim Adjustment Expenses Specialty - Surety (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Strengthening Or Releasing Of Prior Accident Year Reserves Commercial - Auto (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Strengthening Or Releasing Of Prior Accident Year Reserves Commercial - General Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Strengthening Or Releasing Of Prior Accident Year Reserves Commercial - Workers Compensation (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Strengthening Or Releasing Of Prior Accident Year Reserves International Excluding Hardy (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Strengthening Or Releasing Of Prior Accident Year Reserves Specialty - Medical Professional Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Strengthening Or Releasing Of Prior Accident Year Reserves Specialty - Other Professional And Management Liability (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Net Strengthening Or Releasing Of Prior Accident Year Reserves Specialty - Surety (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts - Specialty Reconciliation (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts €“ Net Cumulative Paid Claim And Claim Adjustment Expenses - International - Hardy (details)
Claim And Claim Adjustment Expense Reserves Short Duration Contracts €“ Net Strengthening Or Releasing Of Prior Accident Year Reserves - International - Hardy (details)
Claim And Claim Adjustment Expense Reserves Short-duration Contracts - Historical Claims Duration (details)
Debt
Debt (maturity Of Debt) (details)
Debt (narrative) (details)
Debt (schedule Of Debt Instruments) (details)
Debt (tables)
Discontinued Operations
Discontinued Operations (narrative) (details)
Discontinued Operations (tables)
Discontinued Operations Income Statement Information (details)
Fair Value
Fair Value (assets And Liabilities Measured At Fair Value On A Recurring Basis) (details)
Fair Value (carrying Amount And Estimated Fair Value Of Financial Instrument Assets And Liabilities Which Are Not Measured At Fair Value) (details)
Fair Value (narrative) (details)
Fair Value (quantitative Information About Significant Unobservable Inputs In The Fair Value Measurement Of Level 3 Assets) (details)
Fair Value (table Of Reconciliation For Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs) (details)
Fair Value (tables)
Income Taxes
Income Taxes (current And Deferred Components Of The Company's Income Tax (expense) Benefit) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation Between The Company's Federal Income Tax (expense) Benefit At Statutory Rates And The Recorded Income Tax (expense) Benefit) (details)
Income Taxes (significant Components Of The Company's Deferred Tax Assets And Liabilities) (details)
Income Taxes (tables)
Investments
Investments (activity Related To The Pretax Fixed Maturity Credit Loss Component Reflected Within Retained Earnings For Securities Still Held For Which A Portion Of An Otti Loss Was Recognized In Oci) (details)
Investments (components Of Other-than-temporary Impairment Losses Recognized In Earnings) (details)
Investments (contractual Maturity) (details)
Investments (narrative) (details)
Investments (net Change In Unrealized Gains (losses) On Investments) (details)
Investments (net Investment Income) (details)
Investments (net Realized Investment Gains (losses)) (details)
Investments (securities In A Gross Unrealized Loss Position) (details)
Investments (summary Of Fixed Maturity And Equity Securities) (details)
Investments (tables)
Legal Proceedings, Commitments And Contingencies, And Guarantees
Legal Proceedings, Commitments And Contingencies, And Guarantees (narrative) (details)
Operating Leases (future Minimum Lease Payments) (details)
Operating Leases (narrative) (detail)
Operating Leases (tables)
Operating Leases [text Block]
Organization Review
Organization Review (tables)
Organization Review Costs By Reportable Segment (details)
Organization Review Narrative (details)
Other Intangible Assets
Other Intangible Assets (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Reinsurance
Reinsurance (components Of Earned Premiums) (details)
Reinsurance (components Of Reinsurance Receivables) (details)
Reinsurance (components Of Written Premiums) (details)
Reinsurance (narrative) (details)
Reinsurance (tables)
Related Party Transactions
Related Party Transactions Narrative (details)
Schedule I. Summary Of Investments - Other Than Investments In Related Parties
Schedule Ii. Condensed Financial Information Of Registrant (parent Company)
Schedule Ii. Condensed Financial Information Of Registrant (parent Company) (schedule Ii. Condensed Financial Information Of Registrant (narrative)) (details)
Schedule Ii. Condensed Financial Information Of Registrant (parent Company) (schedule Of Condensed Financial Information Of Registrant, Balance Sheets) (details)
Schedule Ii. Condensed Financial Information Of Registrant (parent Company) (schedule Of Condensed Financial Information Of Registrant, Statements Of Cash Flows) (details)
Schedule Ii. Condensed Financial Information Of Registrant (parent Company) (schedule Of Condensed Financial Information Of Registrant, Statements Of Operations And Comprehensive Income) (details)
Schedule Ii. Condensed Financial Information Of Registrant (parent Company) Schedule Ii. Condensed Financial Information Of Registrant (parent Company)
Schedule Iii. Supplementary Insurance Information
Schedule Iv. Reinsurance
Schedule Of Other Intangible Assets (details)
Schedule Of Other Intangible Assets (narrative) (details)
Schedule V. Valuation And Qualifying Accounts
Schedule V. Valuation And Qualifying Accounts (schedule Of Valuation And Qualifying Accounts) (details)
Schedule Vi. Supplemental Information Concerning Property And Casualty Insurance Operations
Schedule Vi. Supplemental Information Concerning Property And Casualty Insurance Operations (details)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (restricted Shares, Performance-based Restricted Share Units And Performance Share Unit Activity) (details)
Stock-based Compensation (tables)
Stockholders' Equity And Statutory Accounting Practices
Stockholders' Equity And Statutory Accounting Practices (narrative) (details)
Stockholders' Equity And Statutory Accounting Practices (tables)
Stockholders' Equity And Statutory Accounting Practices Combined Statutory Capital And Surplus And Net Income (loss) (details)
Summary Of Significant Accounting Policies (life Settlement Contracts) (details)
Summary Of Significant Accounting Policies (life Settlement Contracts) (tables)
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (notes)
Ticker: CNA
CIK: 21175
Form Type: 10-K Annual Report
Accession Number: 0000021175-17-000040
Submitted to the SEC: Wed Feb 15 2017 3:46:36 PM EST
Accepted by the SEC: Wed Feb 15 2017
Period: Saturday, December 31, 2016
Industry: Fire Marine And Casualty Insurance

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