CNA FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Net Investment Income
The significant components of Net investment income are presented in the following table. Fixed income securities, as presented, include both fixed maturity securities and non-redeemable preferred stock.
| (In millions) | 2023 | 2022 |
|---|---|---|
| Fixed income securities: | ||
| Taxable fixed income securities | $1,798 | $1,585 |
| Tax-exempt fixed income securities | 178 | 244 |
| Total fixed income securities | 1,976 | 1,829 |
| Limited partnership and common stock investments | 202 | (31) |
| Other, net of investment expense | 86 | 7 |
| Net investment income | $2,264 | $1,805 |
| Effective income yield for the fixed income securities portfolio | 4.7% | 4.4% |
| Limited partnership and common stock return | 9.4% | (1.4)% |
Net investment income increased $459 million in 2023 as compared with 2022 driven by favorable limited partnership returns and higher income from fixed income securities as a result of the rising interest rate environment.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.