CNA Financial Q1 Net Income Falls 23% to $211M, P&C Ratio at 102.2%
CNA Financial reported Q1 net income of $211 million ($0.78/share) down from $274 million ($1.00), with core income at $225 million ($0.83) versus $281 million. Property & Casualty combined ratio rose to 102.2%, net written premiums grew 1%, and book value excluding AOCI increased 1% to $45.12 per share.
1. First-Quarter Earnings
CNA Financial posted net income of $211 million, or $0.78 per share, for the first quarter, down from $274 million ($1.00 per share) in the year-ago quarter. Core income totaled $225 million, or $0.83 per share, versus $281 million ($1.03) in the prior year period.
2. Underwriting Performance
The Property & Casualty segment recorded a combined ratio of 102.2%, up from 98.4% a year earlier, reflecting 3.6 points of catastrophe losses and a 4.1-point unfavorable prior period development charge. Underlying combined ratio widened to 94.5% as net written premiums grew 1% and renewal premiums rose 3% on 2% rate increases.
3. Capital Position and Dividend
Book value per share was $40.13, with book value excluding AOCI rising 1% to $45.12 per share from year-end 2025 after $2.48 of dividends. The board declared a quarterly cash dividend of $0.48 per share, payable June 4, supporting shareholder returns.