CNA Financial Reports Increased Assets, Core Income, and Net Investment Income for the Nine Months Ended September 30, 2024

As of September 30, 2024, CNA Financial Corporation reported total assets of $67,356 million, an increase from $64,711 million at the end of 2023. Total investments rose to $48,695 million, up from $46,562 million, with fixed maturity securities at fair value increasing to $42,579 million from $40,425 million. Limited partnership investments also saw growth, rising to $2,462 million from $2,174 million. Cash holdings improved to $456 million, compared to $345 million at the end of 2023.

Claim and claim adjustment expenses increased to $24,558 million from $23,304 million, while unearned premiums rose to $7,259 million from $6,933 million. Long-term debt increased to $2,972 million from $2,481 million, and total stockholders’ equity grew to $10,758 million from $9,893 million. The accumulated other comprehensive loss improved to $(1,837) million from $(2,672) million.

CNA Financial's core income for the three months ended September 30, 2024, increased by $4 million compared to the same period in 2023, while core income for the nine months rose by $52 million. The Property & Casualty Operations segment saw a $5 million decrease in core income due to higher catastrophe losses, while the Life & Group segment improved by $20 million. Catastrophe losses for the three months were $143 million, up from $94 million in the prior year, and for the nine months, they totaled $313 million compared to $214 million in 2023.

The company repurchased 450,000 shares of common stock at a cost of $20 million during the nine months ended September 30, 2024, compared to 550,000 shares for $24 million in the same period of 2023. Net investment income increased significantly, with a rise of $73 million for the three months and $200 million for the nine months compared to the previous year, driven by favorable returns from limited partnerships and fixed income securities.

CNA Financial's cash flow from operating activities for the nine months ended September 30, 2024, was $1,868 million, up from $1,765 million in 2023, attributed to higher premiums collected and increased earnings from fixed income securities. However, net cash used in investing activities decreased to $762 million from $1,537 million, while net cash used in financing activities rose to $998 million from $218 million.

The company declared cash dividends of $3.32 per share during the nine months, including a special cash dividend of $2.00 per share, and announced a quarterly cash dividend of $0.44 per share payable on December 5, 2024.