CNA reports 2006 net income of $1.11B

CHICAGO—CNA Financial Corp. reported $1.11 billion in profits for 2006, a 319.7% increase from its 2005 results, according to the company.

Net premiums written for the Chicago-based insurer increased 2.7%, to $7.03 billion. CNA posted a 106% combined ratio for 2006 vs. a 120.9% combined ratio for 2005.

For the fourth quarter, CNA reported $329 million in net income vs. a $217 million loss for the comparable period a year earlier.

It posted $1.69 billion in net premiums written for the fourth quarter, a 1.9% increase. Its combined ratio for the quarter was 111.3% vs. 140.8% for the fourth quarter of 2005.