CNA Q3 2021 Earnings Report
Key Takeaways
CNA Financial Corporation reported a strong third quarter in 2021, with net income of $256 million and core income of $237 million. The company achieved a record underlying combined ratio of 91.1% for the third consecutive quarter and experienced double-digit gross written premium growth across its P&C business segments.
Net income increased to $256 million compared to $213 million in the prior year quarter.
Core income rose to $237 million versus $193 million in the prior year quarter.
The P&C combined ratio was 100.0%, with an underlying combined ratio of 91.1%, a record low for the third consecutive quarter.
Gross written premium growth was 10% driven by new business growth of 24%.
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CNA Revenue by Segment
Forward Guidance
CNA is well positioned to increasingly capitalize on the favorable market conditions they anticipate into 2022.
Positive Outlook
- Favorable market conditions are anticipated into 2022.
- Strong written rate increases of 8% in the quarter.
- Earned rate increase in the quarter was 11%, substantially above long-run loss cost trends.
- Solid investment income
- Favorable life and group results
Challenges Ahead
- No specific negatives were mentioned in the provided text.