Chicago-based CNA Financial Corp. has revised its net 2002 profit $32 million lower in response to complaints from the SEC about the timing and accounting of investment losses, according to a statement released by the commercial lines insurer.
CNA lowered its fourth-quarter net income to $50 million, or 21 cents per share, from $82 million, or 36 cents per share. For the year, net profit was revised down to $155 million, or 68 cents per share, from $187 million, or 83 cents per share.
CNA shares were down 28 cents per share, or 3.31 percent, in morning trading.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Breaking: Florida Appeals Court Reverses $200M Jury Verdict in Maya Kowalski Case 
Alaska Airlines Vows IT Upgrades After Outage Forces 400 Flight Cancellations 
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24 
Brown & Brown Reports Strong Q3 Revenue Growth of 35.4% 
