CNA Profit Triples For 2003 Fourth Quarter
NU Online News Service, Feb. 13, 4:32 p.m. EST?CNA Financial Corp., the Chicago-based insurance arm of Loews Corp., reported that its 2003 fourth-quarter profit more than tripled on a year-over-year basis to $174 million from $50 million for the 2002 fourth quarter, boosted by higher premiums in property-casualty units.[@@]
"The increase in fourth quarter of 2003 results over the prior period is primarily due to strong results in property-casualty operations," the insurer stated. "Rate increases, solid production of new business, continued underwriting discipline and a focus on expense management all contributed to the 99.1 percent combined ratio for property-casualty operations in the fourth quarter of 2003."
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