CNA to join a panel of capacity providers including AXA, Zurich, Hiscox, and AIG.
The insurer has hired the chief financial officer of Farmers Group.
Its long-serving CFO has resigned to leave the insurance industry and pursue a career in the technology sector.
The insurer wants to accelerate its focus on sophisticated analytical technologies and business innovation.
Prior to joining CNA, he was an executive vice president at AIG.
The deal includes a portfolio of excess workers’ compensation business.
It will assume net insurance reserves of approximately $690 million.
The insurer's CEO highlighted 'significantly improved' underlying loss ratio and expense ratio in the third quarter.
CNA seeks to extend and accelerate its analytics and data science capabilities across the insurance value chain.
Robusto has served as chairman and chief executive officer of the company since December 2016.