CNA Financial Corp. recorded third quarter net income of $403 million compared with $283 million a year during the same period.
Pretax catastrophe losses were $41 million for Q3, down more than $100 million from the prior year quarter.
CNA’s property/casualty operations turned in a Q3 underwriting gain of $194 million. Underwriting profit was $68 million a year ago. CNA said the underlying underwriting gain reached a record $235 million, which marks the 10th consecutive quarter above $200 million.
The operation’s combined ratio was 92.8—an improvement over 97.2 for Q3 2024.
The Chicago-based insurer’s commercial segment reversed a $3 million underwriting loss last year for Q3 by recording a $106 million gain for Q3 2025. The combined ratio for the unit was 92.7 compared with 100.2 a year ago.
“Net written premiums grew 3% as we maintained disciplined underwriting, prioritizing profitability over growth in challenging market segments,” CNA said. “The company continues to efficiently manage expenses while increasing its investments in talent and technology, including artificial intelligence, and is expanding its Cardinal E&S offering to capitalize on opportunities in the excess and surplus lines market.”
The specialty segment booked a Q3 underwriting gain of $60 million, about flat from the year prior.
The company also announced Douglas M. Worman, president and CEO, has additionally been appointed chairman, effective Jan. 1.
Worman took over for former CEO Dino E. Robusto, who slipped into a role of executive chairman to serve as a strategic advisor to Worman. Robusto was elected to board of directors of Loews Corp, the majority owner of CNA, also effective at the start of 2026.
Topics
Catastrophe
Trends
Profit Loss
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