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 $331million for the period last year.
The Chicago-based commercial insurer credited the improvement tolower catastrophe losses, higher net investment income, and a $61million after-tax gain from a settlement resolving litigationrelated to the placement of personal accident reinsurance. But anunfavorable change in current accident-year underwriting resultsexcluding catastrophes partially offset the favorable factors,according to the company.
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