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CNA Financial Q4 net loss $84 million

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Staff Writer | February 11, 2019
CNA Financial
CNA Financial   Property & Casualty Operations combined ratio for the fourth quarter was 105

CNA Financial Corporation announced a fourth quarter 2018 net loss of $84 million, or $(0.31) per share, and a core loss of $23 million, or $(0.08) per share, with catastrophe losses and investment returns from limited partnership and common equities accounting for $(0.82) per diluted share.

Property & Casualty Operations combined ratio for the fourth quarter was 105.4% and the underlying combined ratio was 98.0%. Property & Casualty Operations net written premium increased 4% compared with the prior year quarter.

Fourth quarter 2018 core results decreased $309 million from the prior year period.

Contributing to this variance was lower investment returns on CNA Financial's limited partnership and common equity portfolios of $143 million, higher net catastrophe losses of $91 million and higher non-catastrophe current accident year losses driven by increased property losses as well as increased professional liability losses in CNA Financial's London operation.

Core income (loss) for CNA Financial's Life & Group and Corporate & Other segments was $7 million and $(46) million, respectively.

CNA Financial declared a quarterly dividend of $0.35 per share and a special dividend of $2.00 per share, payable March 14, 2019 to stockholders of record on February 25, 2019.

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