CNA Profit Up, But Charge Prompts Downgrade
By Michael Ha
NU Online News Service, Aug. 8, 10:23 a.m. EDT?CNA Financial Corp. reported today a $308 million reserve-strengthening charge for its second-quarter results. But despite the charge, the insurer reported $70 million in profit for the quarter, helped by $269 million in net realized gains from selling its fixed-income securities.
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