1 August 2016 Insurance

CNA Financial’s Q2 2016 report sees increase in net income

CNA Financial Corporation has published its latest second quarter results of this year, revealing a significant net income increase of more than 50 percent compared with the same period in 2015.

During the second quarter of 2016, CNA reported net income of $209 million, compared with $138 million last year.

The company reported net operating income of $201 million in the second quarter of this year, compared with $132 million in the same period of 2015.

The net written premiums of its property and casualty operations remained stable at $1.6 million. However, the net investment income of its property and casualty operations did not differ much year-over-year.

The net investment income was $310 million in the second quarter of 2016, down slightly from the $316 million in the same period of 2015.

Its international combined ratio has increased since last year to 118.6 percent, compared with 92.2 percent in the second quarter of 2015.

"Overall I am pleased with the result this quarter. Although our International segment had a disappointing quarter, all of our North American businesses produced solid results, led by another great underwriting result in our specialty segment," said Thomas Motamed, chairman and chief executive officer of CNA Financial Corporation.

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