CNA Financial First-Quarter Profit Tops Estimates

Date : 29/04/2019 @ 21:02
Source : Dow Jones News

CNA Financial First-Quarter Profit Tops Estimates

CNA Financial (NYSE:CNA)
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1 Year : From Nov 2018 to Nov 2019

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By Colin Kellaher

CNA Financial Corp. (CNA) on Monday posted first-quarter profit that topped expectations, boosted by premium growth at its U.S. property-and-casualty segments and a rebound in investment income.

The Chicago insurance holding company reported net income of $342 million, or $1.25 a share, for the quarter, up from $291 million, or $1.07 a share, a year earlier.

CNA said core income rose to $318 million, or $1.17 a share, from $281 million, or $1.03 a share, a year ago. Analysts polled by FactSet were expecting core income of $1.09 a share.

CNA said its U.S. P&C segments generated quarterly gross written premium growth, excluding third party captives, of 5%, and net written premium growth of 2%.

The insurer said its P&C operations posted a combined ratio of 97.8% for the quarter, with an underlying combined ratio was 94.9%.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

April 29, 2019 06:47 ET (10:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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