NU Online News Service, Nov. 2, 3:14 p.m. EST
CNA Financial Corporation reported third-quarter net income of $263 million, a $594 million improvement over a net loss of $331 million for the period last year.
The Chicago-based commercial insurer credited the improvement to lower catastrophe losses, higher net investment income, and a $61 million after-tax gain from a settlement resolving litigation related to the placement of personal accident reinsurance. But an unfavorable change in current accident-year underwriting results excluding catastrophes partially offset the favorable factors, according to the company.
For the first nine months of 2009, CNA reported net income of $173 million, a 368 percent increase over the $37 million net income figure reported for the same period in 2008.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
