CNA FINANCIAL ANNOUNCES FIRST QUARTER 2026 NET INCOME OF $0.78 PER SHARE AND CORE INCOME OF $0.83 PER SHARE

About this update from Cna Financial Corporation

CHICAGO, May 4, 2026 /PRNewswire/ -- CNA Financial Corporation (NYSE: CNA) today announced first quarter 2026 net income of $211 million, or $0.78 per share, versus $274 million, or $1.00 per share, in the prior year quarter. Net investment losses for the quarter were $14 million compared to $7 million in the prior year quarter. Core income for the quarter was $225 million, or $0.83 per share, versus $281 million, or $1.03 per share, in the prior year quarter. Our Property & Casualty segments delivered core income of $248 million for the first quarter of 2026, a decrease of $63 million compared to the prior year quarter reflecting lower underlying underwriting results and unfavorable prior period development partially offset by higher net investment income. P&C segments generated net written premium growth of 1%. Our Life & Group segment produced a core loss of $9 million for the first quarter of 2026 versus core income of $6 million in the prior year quarter. Our Corporate & Other segment reported a core loss of $14 million for the first quarter of 2026 versus $36 million in the prior year quarter. CNA Financial declared a quarterly cash dividend of $0.48 per share, payable June 4, 2026 to stockholders of record on May 18, 2026. "In the first quarter we achieved $225 million of core income buoyed by strong investment income and reinforcing our unwavering focus on underwriting discipline. The fundamentals of our business remain strong as we execute deliberate strategies to optimize our portfolio at a time when the industry is experiencing pressure on growth, rate and loss cost trends. The P&C all-in combined ratio was 102.2% in the quarter and included 3.6 points of catastrophe impact and 4.1 points of prior period development. We took decisive action this quarter to add additional prudence to P&C reserves in recent accident years on excess casualty in Commercial and professional E&O in Specialty, which we view as fundamentally appropriate given the current environment. Our underlying loss ratio of 64.1% also reflects this additional level of prudence, and our underlying combined ratio was 94.5%. Net written premiums grew 1% in the quarter, new business grew 3% to $581 million and retention was 83%. We grew certain pockets of our portfolio that offer accretive returns and held the line in other areas we felt the ...

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