Chicago-based insurer CNA Financial Corp. reported second-quarter net income fell 17 percent compared to the same period last year on a combination of increased losses, lower investment income and soft market pressures, management said.
The company reported net income fell in the quarter $36 million to $181 million or 67 cents a share, off 13 cents from the same period last year. Revenues were off $148 million, or 6 percent, to $2.3 billion.
For the first six months, net income is off 28 percent, or $145 million, to $368 million, or down 53 cents a share to $1.36. Revenues dropped $383 million, or 8 percent, to $4.6 billion.
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