CNA FINANCIAL ANNOUNCES THIRD QUARTER 2025 NET INCOME OF $1.48 PER SHARE AND RECORD CORE INCOME OF $1.50 PER SHARE

Core Financial Performance - CNA Financial Corporation reported a third quarter 2025 net income of $403 million, or $1.48 per share, compared to $283 million, or $1.04 per share, in the same quarter of the previous year, marking a significant increase [1][6] - Core income reached a record $409 million, or $1.50 per share, up from $293 million, or $1.08 per share, in the prior year quarter, reflecting a 40% increase [1][6] - Year-to-date core income surpassed $1 billion for the first time in history, totaling $1,025 million, a 5% increase from the previous year [4][6] Segment Performance - The Property & Casualty (P&C) segments generated core income of $456 million for Q3 2025, an increase of $110 million from the prior year, driven by lower catastrophe losses and improved underwriting results [1][6] - The Life & Group segment reported a core loss of $22 million for Q3 2025, compared to a core loss of $9 million in the prior year quarter [2][6] - The Corporate & Other segment showed a core loss of $25 million for Q3 2025, an improvement from a loss of $44 million in the prior year quarter [2][6] Underwriting and Investment Results - Underwriting income was exceptionally strong at $194 million, nearly tripling the prior year's quarter, aided by low catastrophe losses [4][6] - Net investment income increased by 2% to $638 million pretax, driven by higher fixed income results [6][22] - The P&C combined ratio improved to 92.8%, down from 97.2% in the prior year quarter, with catastrophe losses significantly reduced to $41 million from $143 million [5][11] Premium Growth - P&C segments, excluding third-party captives, achieved gross written premium growth of 2% and net written premium growth of 3%, attributed to a renewal premium change of +4% [1][12] - The underlying combined ratio improved to 91.3%, with the expense ratio dropping to 29.1%, the lowest since 2008 [5][6] Shareholder Returns - The Board of Directors declared a quarterly dividend of $0.46 per share, payable on December 4, 2025, to stockholders of record on November 17, 2025 [2][6] - Book value per share increased to $41.83, with book value per share excluding AOCI at $46.30, reflecting an 8% increase from year-end 2024 [6][23] Leadership Changes - Douglas M. Worman has been appointed Chairman of the Board, effective January 1, 2026, in addition to his current role as President & CEO [9]