CHICAGO, Oct. 15, 2024 /PRNewswire/ -- CNA Financial Corporation (NYSE: CNA) will report third quarter 2024 results before the market opens on Monday, November 4, 2024. The news release, earnings presentation and financial supplement will be available on CNA's website at www.cna.com via the Investor Relations section. Along with these documents CNA will post a transcript of earnings remarks, which will include commentary from the Company's Chairman & Chief Executive Officer, Dino Robusto, and Chief Financia ...

LIVONIA, Mich., Sept. 23, 2024 (GLOBE NEWSWIRE) -- In a release issued earlier today by MedCerts, a typing error was left in the headline. It should say "MedCerts Launches Certified Nursing Assistant (CNA) eLearning Program Benefiting Medical Providers, Patients and Aspiring Healthcare Professionals," not Cing Assistant as previously published. The updated release follows: Offering a vital solution for healthcare providers requiring more trained personnel and patients in need of qualified care, MedCerts tod ...

A month has gone by since the last earnings report for CNA Financial (CNA) . Shares have added about 3.3% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is CNA Financial due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. CNA Financial Q2 Earnings Miss, Revenues Rise ...

Shares of CNA Financial Corporation (CNA) have gained 31% in the past year compared with the industry's growth of 28.8%. The Finance sector and the Zacks S&P 500 index have returned 27.9% and 27.1% in the said time frame, respectively. With a market capitalization of $13.87 billion, the average volume of shares traded in the last three months was 0.3 million. Image Source: Zacks Investment Research The rally was largely driven by solid premium writing underwriting expertise, a sturdy balance sheet and capit ...

The Zacks Property and Casualty Insurance industry is well-poised to benefit from better pricing, prudent underwriting, increased exposure, an improving rate environment and a solid capital position. With the ongoing economic expansion, insurers remain well-poised for growth. The buoyancy in the industry is further confirmed by its Zacks Industry Rank #26, which places it in the top 10% of more than 251 Zacks industries. However, industry players continue to grapple with issues like higher catastrophe event ...

CNA Financial (NYSE:CNA) reported a net income of $317 million for the second quarter of 2024, a 12% year-over-year increase from $283 million in the prior year quarter, Despite a deterioration in the combined ratio due to higher catastrophe losses, the growth in investment income drove the higher post-tax camings. In Q2 2024, the effective yield on fixed-income investments rose to 4.8% from 4.6%, driven by higher reinvestment rates. On a year-to-date basis, higher investment income continued to boost earni ...

The quarterly results of CNA reflected higher income from fixed income securities, larger invested asset base, improved retention and renewal premium change, partly offset by poor underwriting income and escalating expenses. Total operating revenues of CNA Financial were $3.1 billion, up 6.7% year over year due to higher premiums, net investment income and other revenues. The top line beat the Zacks Consensus Estimate by 1.3%. Net investment income rose 7.4% year over year to $618 million. The increase was ...

Company Performance - CNA Financial reported quarterly earnings of $1.19 per share, missing the Zacks Consensus Estimate of $1.21 per share, but showing an increase from $1.13 per share a year ago [1] - The company posted revenues of $3.13 billion for the quarter, surpassing the Zacks Consensus Estimate by 1.37%, and compared to $2.93 billion in the same quarter last year [9] - The earnings surprise for this quarter was -1.65%, and the company has topped consensus revenue estimates four times over the last four quarters [8][9] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.25 on revenues of $3.16 billion, and for the current fiscal year, it is $4.96 on revenues of $12.51 billion [12] - The estimate revisions trend for CNA Financial is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [5] Industry Context - CNA Financial operates within the Insurance - Property and Casualty industry, which is currently in the top 24% of over 250 Zacks industries, suggesting a positive outlook for the sector [6] - The company has added approximately 14.7% to its stock value since the beginning of the year, slightly outperforming the S&P 500's gain of 14.5% [10]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------|-------|-------|-------|-----------------|-------|-------|----------|--------|-------| | Periods ended June 30 \n(In millions) | | 2024 | Three | Months \n2023 | | 2024 | Six \n | Months | 2023 | | Pretax (favorable) unfavorable development: | | | | | | | | | | | Commercial | $ | | 6 | $ | (3) | $ | 6 | $ | (5) | | Specialty | | | (9) | | 3 | | (9) | | 22 | | Other | | | — | | — | | — | ...

Financial Performance - Net earned premiums for Q2 2024 were $2,498 million, an increase of 6.4% from $2,347 million in Q2 2023[3] - Total revenues for the first half of 2024 reached $6,963 million, up 7.9% from $6,456 million in the same period of 2023[3] - Net income for Q2 2024 was $317 million, representing a 12.0% increase from $283 million in Q2 2023[3] - Diluted earnings per share for Q2 2024 were $1.17, up from $1.04 in Q2 2023[10] - Core income for Q2 2024 was $380 million, reflecting a 2% increase from $374 million in Q2 2023[12] - Core income for the first half of 2024 was $4 million, compared to a loss of $23 million in the same period of 2023, indicating a significant improvement[16] - Core income for Q2 2024 was $44 million, reflecting a 16% increase from $38 million in Q2 2023[39] Investment Performance - Net investment income increased by 7.5% to $618 million in Q2 2024, compared to $575 million in Q2 2023[3] - The company experienced a net investment loss of $10 million in Q2 2024, an improvement from a loss of $32 million in Q2 2023[3] - Net investment income rose to $239 million in Q2 2024, compared to $229 million in Q2 2023, reflecting an increase of 4.38%[16] - Net investment income for the six months ended June 30, 2024, was $470 million, up from $443 million in the same period of 2023[24] - Net investment income rose by 8% to $154 million for the three months ended June 30, 2024, from $142 million in the prior year[37] - Net investment income for Corporate & Other increased to $18 million in Q2 2024 from $14 million in Q2 2023[41] Premiums and Underwriting - Gross written premiums for Q2 2024 reached $4,072 million, a 4% increase from $3,909 million in Q2 2023[12] - New business generated $595 million in Q2 2024, a 7% increase from $555 million in Q2 2023[12] - Gross written premiums in the commercial segment for Q2 2024 were $1,927 million, a 12% increase from $1,719 million in Q2 2023[14] - New business in the commercial segment reached $405 million in Q2 2024, an 18% increase from $343 million in Q2 2023[14] - Gross written premiums for the three months ended June 30, 2024, were $1,728 million, a decrease of 2% from $1,769 million in the same period of 2023[37] - New business premiums decreased by 22% to $72 million in Q2 2024, down from $92 million in Q2 2023[39] Claims and Expenses - Claims and policyholders' benefits for Q2 2024 totaled $1,882 million, up from $1,779 million in Q2 2023[3] - Total claims, benefits, and expenses for Q2 2024 were $1,221 million, a 12% increase from $1,088 million in Q2 2023[14] - The loss and LAE ratio for Q2 2024 was 68.0%, an increase of 1.8 percentage points from 66.2% in Q2 2023[14] - The net incurred claim and claim adjustment expenses totaled $3,078 million for the six months ended June 30, 2024[52] - The gross claim and claim adjustment expense reserves at the end of the period were $23,974 million[51] - The net claim and claim adjustment expense payments for the six months ended June 30, 2024, were $(2,567) million[52] Financial Ratios - The company reported a return on equity of 13.0% for Q2 2024, consistent with the previous year[10] - The combined ratio for Q2 2024 was 94.8%, an increase of 1.0 percentage points from 93.8% in Q2 2023[12] - The combined ratio improved to 91.9% in Q2 2024, compared to 92.2% in Q2 2023, indicating better underwriting performance[39] - The combined ratio for the company's segments is calculated using the loss ratio, expense ratio, and dividend ratio, providing insights into operational efficiency[53] Assets and Liabilities - Total assets increased to $65,194 million as of June 30, 2024, from $64,711 million on December 31, 2023[34] - Total liabilities rose to $55,320 million as of June 30, 2024, compared to $54,818 million at the end of 2023[34] - Book value per common share decreased slightly to $36.46 as of June 30, 2024, from $36.52 on December 31, 2023[34]