CNA Financial Corporation combined ratio holds steady
US commercial property and casualty (P&C) insurer CNA Financial Corporation has reported increased net income for 2019, with its P&C combined ratio holding steady.
The company’s net income for the full year 2019 was $1.0 billion, compared to $813 million for 2018. Its P&C operations combined ratio stayed steady at 97 percent. P&C gross written premiums were $7.7 billion, compared to $7.2 billion for 2018.
Specialty gross written premiums were $3 billion, compared to $2.8 billion in 2018, with a combined ratio of 93 percent, compared to 93 percent for 2018. Commercial gross written premiums were $3.6 billion, up from $3.2 billion in 2018, with a combined ratio was 101 percent, compared to 101 percent in 2018.
International gross written premiums were $971 million, down from £1 billion in 2018. The combined ratio was 98 percent, compared to 103 percent in 2018.
"Our fourth quarter results reflect a strong underwriting quarter in line with a strong underwriting year in which our underlying combined ratio improved for the third consecutive year to 94.9 percent," said Dino Robusto, chairman and chief executive officer of CNA Financial Corporation. "With fourth quarter premium rates increasing to 7 percent and gross premiums increasing to 8 percent, CNA is well positioned going into 2020."
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
Everest Re Group income surges to $1bn in 2019
Ed Broking boosts parent BGC’s 2019 revenues but profits dip
Cultural transformation experts join Lloyd’s Culture Advisory Group
Besso Insurance Group appoints head of Besso Re Swiss Re Corporate Solutions appoints UK distribution head
Gallagher makes key appointments in its UK specialty broking and underwriting divisions
Accenture launches cyber-attack response service for AXA XL’s business customers
RiverStone completes RITC transaction with The Channel Syndicate
LMA reveals key 2020 objectives as it gears up for post-Brexit world
HDI Global Specialty appoints new head of airline
Reinsurance software solution firm TAI enters longevity market
APRA proposes to uplift transparency around life and general insurance data
