CNA Reports ‘One of Best Quarters’ in Decade in Q2

CNA Financial Corp. saw its second quarter net income climb at a robust clip and catastrophe losses along with its combined ratio shrink. Chairman and CEO Dino Robusto said the results were better than the property/casualty insurer has seen in quite some time.

“Improvement in both our underlying loss ratio and expense ratio created one of our best underwriting quarters in the past decade,” Robusto said in prepared remarks.

Net income reached $272 million for the 2017 second quarter compared to $209 million over the same period a year ago. CNA’s property/casualty combined ratio was 93.5 for Q2, versus 97.4 in the 2016 second quarter; the commercial insurance combined ratio came in at 95.1, down from 103.5 over the same, year-ago period.

Not everything trended favorably, however. CNA said its net after tax investment income was $344 million for the 2017 second quarter, down from $362 million in the 2016 second quarter The insurer blamed the decrease on limited partnership investments with declining returns. Also, its specialty insurance combined ratio climbed to just under 90, versus 85.4 in the same period last year.

Other CNA’s Q2 results:

Source: CNA