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- Q4 NET INCOME OF $273M, $1.00 PER SHARE; FULL YEAR 2019 OF $1 BILLION, $3.67 PER SHARE
- Q4 CORE INCOME OF $265M, $0.97 PER SHARE; FULL YEAR 2019 OF $979M, $$3.59 PER SHARE
- Q4 P&C COMBINED RATIO OF 95.6%; Q4 P&C UNDERLYING COMBINED RATIO OF 94.9%
- FULL YEAR 2019 P&C UNDERLYING COMBINED RATIO OF 94.8% VS 95.4% FULL YEAR 2018
- P&C NET WRITTEN PREMIUM GROWTH OF 5% IN Q4 & FULL YEAR 2019
- INCREASED QUARTERLY DIVIDEND TO $0.37 PER SHARE
- SPECIAL DIVIDEND OF $2.00 PER SHARE
CHICAGO, February 10, 2020 -- CNA Financial Corporation (NYSE: CNA) today announced fourth quarter 2019 net income of $273 million, or $1.00 per share, and core income of $265 million, or $0.97 per share. Net income for the full year 2019 was $1.0 billion, or $3.67 per share, and core income was $979 million, or $3.59 per share. Property & Casualty Operations combined ratio for the fourth quarter was 95.6% and the underlying combined ratio was 94.9%. Net investment income, after tax, was $443 million for the fourth quarter of 2019, including $56 million from limited partnership and common stock investments.
Excluding third party captives, Property & Casualty Operations generated gross written premium growth of 8% and net written premium growth of 6% for the fourth quarter of 2019.
Our Life & Group and Corporate & Other segments produced core losses for the fourth quarter of 2019 of $(4) million and $(68) million, respectively, with the latter driven by a $48 million after-tax non-economic charge related to asbestos and environmental pollution.
CNA Financial declared a quarterly dividend of $0.37 per share and a special dividend of $2.00 per share, payable March 12, 2020 to stockholders of record on February 24, 2020.
Conference Call and Webcast/Presentation Information
A conference call for investors and the professional investment community will be held at 9:00 a.m. (CT) today. On the conference call will be Dino E. Robusto, Chairman and Chief Executive Officer of CNA Financial Corporation, James M. Anderson, Executive Vice President and Chief Financial Officer of CNA Financial Corporation and other members of senior management. Participants can access the call by dialing (800) 289-0571, or for international callers, +1 (720) 543-0206. The call will also be broadcast live on the internet and may be accessed from the Investor Relations page of the CNA website (www.cna.com). A presentation will be posted and available on the CNA website and will provide additional insight into the results.
The call is available to the media, but questions will be restricted to investors and the professional investment community. An online replay will be available on CNA's website following the call. Financial supplement information related to the results is available on the investor relations pages of the CNA website or by contacting firstname.lastname@example.org.
CNA is one of the largest U.S. commercial property and casualty insurance companies. CNA provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada and Europe, backed by more than 120 years of experience and approximately $45 billion of assets. For more information, please visit CNA at www.cna.com.