CNA Financial Q1 Earnings Miss on Higher Expenses CNA Financial Corporation reported first-quarter 2024 core earnings of $1.30 per share, which missed the Zacks Consensus Estimate by 5.1%. The bottom line, however, increased 9.2% year over year. The insurer's results reflected improved premiums and investment income, offset by higher catastrophe losses and expenses. Behind First-Quarter Headlines A month has gone by since the last earnings report for CNA Financial (CNA) . Shares have added about 2% in that ...

CNA Financial Corporation (CNA) is poised to grow on the strength of its solid premium writing underwriting expertise, a sturdy balance sheet and capital deployment. These, coupled with growth projections, make the stock worth retaining in one portfolio. Shares of this Zacks Rank #3 (Hold) insurer have gained 5.9% in the past three months, outperforming the industry's increase of 3.2%. CNA's return on equity for the trailing 12 months is 14.3%, better than the industry average of 7.8%. This reflects efficie ...

Industry Overview - The Zacks Property and Casualty Insurance industry is positioned to benefit from improved pricing, prudent underwriting, increased exposure, and a solid capital position, reflected in its Zacks Industry Rank 35, placing it in the top 14% of over 250 Zacks industries [1] - Despite challenges such as higher catastrophe events impacting underwriting profit, the industry has seen a year-to-date growth of 14.6%, outperforming the S&P 500 composite's growth of 11.5% and the Finance sector's 4.5% rise [3] Economic Losses and Underwriting Performance - Total economic losses in 2023 were reported at $380 billion, with insured losses at $118 million, leading to a total net underwriting loss of $38 billion, the highest in 10 years, primarily due to weather-related losses, high inflation, and reinsurance pricing pressure [2] Premium Growth and Market Trends - Global commercial insurance rates increased by 1% in Q1 2024, with gross premiums expected to rise sixfold to $722 billion by 2030, driven by price hikes and operational strength [4] - Analysts predict a 5.5% growth in premiums for 2024, particularly in the personal auto segment, supported by better investment results and lower claims [5] Capital Management and Mergers - A solid capital level allows insurers to pursue strategic mergers and acquisitions, expand into new business lines, and increase dividends, with expectations of more M&A activity in the reinsurance space in 2024 [7] - The industry is increasingly adopting technology such as blockchain, AI, and advanced analytics to enhance operational efficiency and reduce costs [8] Company Highlights - Allstate Corporation, with a market cap of $43.50 billion, is the third-largest property-casualty insurer in the U.S., showing consistent sales growth and a dividend yield of 2.2% [10][11] - Cincinnati Financial, with a market cap of $18.43 billion, is focused on price increases and growth initiatives, boasting a dividend yield of 2.7% and a 64-year record of annual dividend increases [12][13] - CNA Financial, with a market cap of $11.95 billion, emphasizes better pricing and increased exposure, offering a dividend yield of 4% and a recent special dividend announcement [14][15] - First American Financial, with a market cap of $5.69 billion, is well-positioned to benefit from increased demand for home purchases, with a dividend yield of 3.8% [17][18] - American Financial Group, with a market cap of $10.82 billion, focuses on specialty insurance products and has a dividend yield of 2.2%, maintaining a strong history of dividend increases [20][21]

CNA Financial Corporation (CNA) reported first-quarter 2024 core earnings of $1.30 per share, which missed the Zacks Consensus Estimate by 5.1%. The bottom line, however, increased 9.2% year over year.The insurer’s results reflected improved premiums and investment income, offset by higher catastrophe losses and expenses.Behind First-Quarter HeadlinesTotal operating revenues of CNA Financial were $3 billion, up 10% year over year, driven by higher premiums, net investment income and other revenues. The top ...

CNA Financial Corporation (NYSE:CNA) Q1 2024 Earnings Conference Call May 6, 2024 9:00 AM ET Company Participants Ralitza Todorova - Investor Relations Dino Robusto - Chairman & Chief Executive Officer Scott Lindquist - Chief Financial Officer Conference Call Participants Josh Shanker - Bank of America Operator Ladies and gentlemen, good day and welcome to the CNA First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference is being recorded. At this time, I'd like ...

For the quarter ended March 2024, CNA Financial (CNA) reported revenue of $3.06 billion, up 10% over the same period last year. EPS came in at $1.30, compared to $1.19 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.94 billion, representing a surprise of +4.14%. The company delivered an EPS surprise of -5.11%, with the consensus EPS estimate being $1.37.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

37 Table of Contents Catastrophe losses were $88 million and $52 million for the three months ended March 31, 2024 and 2023. Favorable net prior year loss reserve development of $7 million was recorded for the three months ended March 31, 2024 as compared with unfavorable net prior year loss reserve development of $13 million recorded for the three months ended March 31, 2023 related to our Specialty, Commercial and International segments. Further information on net prior year loss reserve development is in ...

CNA Financial Corporation Supplemental Financial Information March 31, 2024 This report is for informational purposes only and includes consolidated financial statements and financial exhibits that are unaudited. This report should be read in conjunction with documents filed with the U.S. Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Table of Contents Selected Balance Sheet Data and Statements of Cash Flows Data | (In millions, e ...

Net income up 14% to $338 million versus $297 million in the prior year quarter; core income up 9% to $355 million, reflecting the best first quarter core income on record, versus $325 million in the prior year quarter. P&C core income of $372 million versus $346 million, reflects higher investment income and favorable net prior year development, partially offset by higher catastrophe losses. Net investment income up 16% to $609 million pretax, includes a $44 million increase from fixed income securities a ...

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