11 February 2020Insurance

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."

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