CNA reports strong second-quarter growth
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CNA Financial Corp. on Monday reported net income of $272 million in the second quarter of 2017, up 30.1% from the same period a year ago.
Net written premiums totaled $1.7 billion, up 6.3% from $1.6 billion a year ago.
CNA said the increase was driven by improved current accident-year underwriting results, which more than offset lower net investment income.
CNA property/casualty operations’ combined ratio for the second quarter was 93.5%, an improvement from 97.4% a year ago, CNA said in a statement.
Dino E. Robusto, CNA’s chairman and CEO, said in a statement that he was pleased with the results and the overall operational progress.
“Improvement in both our underlying loss ratio and expense ratio created one of our best underwriting quarters in the past decade," he said.
For the first half of 2017, CNA reported net income of $572 million, up about 108% from a year ago. Net written premiums totaled $3.3 billion, up 3.1% from a year ago. The combined ratio was 95.3% compared with 96.8% a year ago.
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