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Cna Financial Corp (CNA) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Cna Financial Corp

CIK: 21175 Ticker: CNA


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FOR IMMEDIATE RELEASE


CNA FINANCIAL ANNOUNCES THIRD QUARTER 2020
NET INCOME OF $0.79 PER SHARE AND CORE INCOME OF $0.71 PER SHARE

Third quarter net income was $213 million versus net income of $107 million in the prior year quarter, and core income was $193 million versus core income of $102 million in the prior year quarter.
Third quarter net and core income includes an LTC GPV charge of $59 million after-tax primarily driven by actions taken on discount rate assumptions.
Third quarter net catastrophe losses were $160 million pretax driven by severe weather related events, primarily Hurricanes Laura, Isaias and Sally, and the Midwest derecho. No change to COVID-19 catastrophe loss estimate.
The third quarter P&C combined ratio was 100.9% compared with 97.6% in the prior year quarter, including 8.7 points of catastrophe loss impact compared with 1.8 points in the prior year quarter.
The underlying combined ratio was 92.6% compared with 94.6% in the prior year quarter. The underlying loss ratio was 60.5% compared with 61.7% in the prior year quarter and the expense ratio was 31.8% compared with 32.5% in the prior year quarter.
P&C segments, excluding third party captives, generated gross written premium growth of 9% and net written premium growth of 7%.
P&C rate change increased to +12% in the third quarter.
Net investment income of $517 million pretax includes $71 million of income from LPs and common stock.
Board of Directors declares regular quarterly cash dividend of $0.37 per share.

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The following information was filed by Cna Financial Corp (CNA) on Monday, November 2, 2020 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets - (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited) - (Parenthetical)
Accumulated Other Comprehensive Income (Loss) By Component
Accumulated Other Comprehensive Income (Loss) By Component (Tables)
Accumulated Other Comprehensive Income (Loss) By Component Schedule Of Accumulated Other Comprehensive Income (Loss) By Component (Details)
Benefit Plans
Benefit Plans (Components Of Net Periodic Cost (Benefit)) (Details)
Benefit Plans (Narrative) (Details)
Benefit Plans (Tables)
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 (Commercial - Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development) (Details)
Claim And Claim Adjustment Expense Reserves (International - Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development) (Details)
Claim And Claim Adjustment Expense Reserves (Life &Amp; Group Policyholder Reserves) (Details)
Claim And Claim Adjustment Expense Reserves (Narrative) (Details)
Claim And Claim Adjustment Expense Reserves (Net Prior Year Development) (Details)
Claim And Claim Adjustment Expense Reserves (Reconciliation Of Claim And Claim Adjustment Expense Reserves) (Details)
Claim And Claim Adjustment Expense Reserves (Specialty - Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development) (Details)
Claim And Claim Adjustment Expense Reserves (Tables)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Narrative) (Details)
Expected Credit Losses - Uncollectible Reinsurance And Insurance Receivables
Expected Credit Losses - Uncollectible Reinsurance And Insurance Receivables (Summary Of Outstanding Amount Of Voluntary Reinsurance Receivables) (Details)
Expected Credit Losses - Uncollectible Reinsurance And Insurance Receivables (Tables)
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)
General
General (Narrative) (Details)
General (Policies)
Investments
Investments (Allowance On Available-For-Sale Securities With Credit Impairments And Assets Purchased With Credit Deterioration) (Details)
Investments (Components Of Other-Than-Temporary Impairment Losses Recognized In Earnings) (Details)
Investments (Contractual Maturity) (Details)
Investments (Credit Quality Indicator) (Details)
Investments (Narrative) (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, Contingencies And Guarantees
Legal Proceedings, Contingencies And Guarantees (Narrative) (Details)
Non-Insurance Revenues From Contracts With Customers
Non-Insurance Revenues From Contracts With Customers (Narrative) (Details)
Non-Insurance Revenues From Contracts With Customers (Performance Obligation) (Details)

Material Contracts, Statements, Certifications & more

Cna Financial Corp provided additional information to their SEC Filing as exhibits

Ticker: CNA
CIK: 21175
Form Type: 10-Q Quarterly Report
Accession Number: 0000021175-20-000117
Submitted to the SEC: Mon Nov 02 2020 10:02:46 AM EST
Accepted by the SEC: Mon Nov 02 2020
Period: Wednesday, September 30, 2020
Industry: Fire Marine And Casualty Insurance

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