CNA(US:CNA)2025-11-03 11:34Financial Performance - For the three months ended September 30, 2025, net income increased to $403 million, compared to $283 million for the same period in 2024, representing a 42.4% increase[10] - For the nine months ended September 30, 2025, net income was $976 million, up from $938 million in 2024, reflecting a 4.1% growth[10] - Total comprehensive income for the three months ended September 30, 2025, was $778 million, compared to $993 million in 2024, a decrease of 21.7%[10] - Core income for Q3 2025 was $409 million, compared to $293 million in Q3 2024, indicating a significant increase of approximately 39.6%[130][132] - Total operating revenues for Q3 2025 reached $3,824 million, an increase from $3,628 million in Q3 2024, representing a growth of approximately 5.4%[130] - Total operating revenues for the nine months ended September 30, 2025, reached $11,223 million, an increase from $10,623 million in the same period of 2024, representing a growth of approximately 5.6%[138] - Net earned premiums amounted to $8,103 million for the nine months ended September 30, 2025, compared to $7,532 million in 2024, reflecting an increase of 8.5%[138] Assets and Liabilities - Total assets as of September 30, 2025, were $69,756 million, an increase from $66,492 million as of December 31, 2024, representing a growth of 3.4%[11] - Total liabilities increased to $58,434 million as of September 30, 2025, compared to $55,979 million at the end of 2024, a rise of 4.4%[11] - Total assets as of September 30, 2025, amounted to $46,497 million, an increase from $43,692 million as of December 31, 2024, representing a growth of approximately 6.4%[57] - Total fixed maturity securities increased to $43,702 million as of September 30, 2025, up from $41,111 million at the end of 2024, reflecting a growth of about 6.3%[57] Investment Performance - The company reported a total of $50,536 million in investments as of September 30, 2025, up from $47,482 million at the end of 2024, a growth of 4.3%[11] - Net investment income for the nine months ended September 30, 2025, was $1,904 million, compared to $1,853 million in 2024, indicating a 2.8% increase[29] - The gross investment income for the nine months ended September 30, 2025, was $1,971 million, compared to $1,916 million in 2024, reflecting a 2.9% increase[29] - Net investment gains (losses) for the nine months ended September 30, 2025, were $(62) million, compared to $(42) million in 2024[30] - The total fixed maturity securities available-for-sale as of September 30, 2025, had an estimated fair value of $43,687 million, down from $41,111 million as of December 31, 2024[34] Claims and Expenses - The claim and claim adjustment expenses increased to $26,525 million as of September 30, 2025, from $24,976 million at the end of 2024, reflecting a 6.2% increase[11] - The net incurred claim and claim adjustment expenses for the nine months ended September 30, 2025, totaled $5,231 million, compared to $4,762 million for the same period in 2024, reflecting an increase of about 9.8%[75] - The company reported catastrophe losses, net of reinsurance, of $41 million and $200 million for the three and nine months ended September 30, 2025, compared to $143 million and $313 million for the same periods in 2024[73] - The total claims, benefits, and expenses for Q3 2025 amounted to $3,304 million, compared to $3,253 million in Q3 2024, reflecting an increase of about 1.6%[130][132] Shareholder Returns - The company paid dividends of $922 million to common stockholders in the nine months ended September 30, 2025, compared to $906 million in 2024, a 1.8% increase[13] - Basic earnings per share for the nine months ended September 30, 2025, was $3.60, up from $3.46 in 2024, reflecting a 4.0% increase[25] - The Company repurchased 700,000 shares of common stock at a total cost of $34 million during the nine months ended September 30, 2025[26] Reserves and Future Liabilities - Future policy benefits reserves related to the Company's long-term care business amounted to $16.986 billion as of September 30, 2025[106] - The net LFPB was $13.546 billion as of September 30, 2025[106] - The company ceded approximately $1.6 billion of net Asbestos & Environmental Pollution claim reserves to National Indemnity Company through a Loss Portfolio Transfer[95] - The potential amount of future payments under guarantees was approximately $1.9 billion as of September 30, 2025[116] Other Financial Metrics - The accumulated other comprehensive loss decreased to $(1,211) million as of September 30, 2025, from $(1,991) million at the end of 2024, indicating an improvement[15] - The company recognized $5 million in impairment losses on mortgage loans during the nine months ended September 30, 2025, due to changes in expected credit losses[31] - The allowance for credit losses increased to $61 million as of September 30, 2025, from $51 million as of July 1, 2025, reflecting additional increases of $3 million and $4 million for corporate and asset-backed securities respectively[42]