CNA Financial Inc. reported a 24 percent rise in net income forthe first quarter of this year, compared with the same 2005period.
|The Chicago-based carrier reported net income of $229 million,compared with $185 million for the same year-ago period.
|The company said net investment income gains and lower expenses,as well as a decrease in unfavorable net prior-year development,helped fuel the increases.
|But they were offset somewhat by catastrophe losses of $8million, compared with $1 million for the same 2005 period.
|The company reported a combined ratio of 96.9, compared with 99in the prior-year period.
|Company chairman Stephen Lilienthal said the disciplinedunderwriting and retention of quality renewals were key to growthin the quarter.
|Net written premiums decreased slightly in the quarter to $1.758billion, compared with $1.765 in the prior-year period.
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