CNA FINANCIAL CORP
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
CNA$47.32-1.7%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Financial Statements:
Condensed Consolidated Statements of Operations (Unaudited)
| Periods ended September 30 | Three Months | Nine Months | ||
|---|---|---|---|---|
| (In millions, except per share data) | 2024 | 2023 | 2024 | 2023 |
| Revenues | ||||
| Net earned premiums | $2,593 | $2,406 | $7,532 | $7,001 |
| Net investment income | 626 | 553 | 1,853 | 1,653 |
| Net investment losses | (10) | (38) | (42) | (105) |
| Non-insurance warranty revenue | 401 | 407 | 1,212 | 1,221 |
| Other revenues | 8 | 8 | 26 | 22 |
| Total revenues | 3,618 | 3,336 | 10,581 | 9,792 |
| Claims, Benefits and Expenses | ||||
| Insurance claims and policyholders’ benefits (re-measurement loss of $(48), $(41), $(88) and $(75)) | 2,019 | 1,826 | 5,708 | 5,258 |
| Amortization of deferred acquisition costs | 457 | 426 | 1,336 | 1,208 |
| Non-insurance warranty expense | 387 | 386 | 1,169 | 1,154 |
| Other operating expenses | 362 | 338 | 1,077 | 1,021 |
| Interest | 32 | 34 | 101 | 93 |
| Total claims, benefits and expenses | 3,257 | 3,010 | 9,391 | 8,734 |
| Income before income tax | 361 | 326 | 1,190 | 1,058 |
| Income tax expense | (78) | (68) | (252) | (220) |
| Net income | $283 | $258 | $938 | $838 |
| Basic earnings per share | $1.04 | $0.95 | $3.46 | $3.09 |
| Diluted earnings per share | $1.04 | $0.95 | $3.44 | $3.08 |
| Weighted Average Outstanding Common Stock and Common Stock Equivalents | ||||
| Basic | 271.3 | 271.2 | 271.5 | 271.2 |
| Diluted | 272.7 | 272.3 | 272.7 | 272.2 |
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
| Periods ended September 30 | Three Months | Nine Months | ||
|---|---|---|---|---|
| (In millions) | 2024 | 2023 | 2024 | 2023 |
| Comprehensive Income (Loss) | ||||
| Net income | $283 | $258 | $938 | $838 |
| Other Comprehensive Income (Loss), net of tax | ||||
| Changes in: | ||||
| Net unrealized gains and losses on investments with an allowance for credit losses | (3) | (1) | (1) | (10) |
| Net unrealized gains and losses on other investments | 1,265 | (1,084) | 804 | (827) |
| Net unrealized gains and losses on investments | 1,262 | (1,085) | 803 | (837) |
| Impact of changes in discount rates used to measure long-duration contract liabilities | (623) | 818 | (9) | 678 |
| Foreign currency translation adjustment | 63 | (55) | 21 | (4) |
| Pension and postretirement benefits | 8 | 6 | 20 | 20 |
| Other comprehensive income (loss), net of tax | 710 | (316) | 835 | (143) |
| Total comprehensive income (loss) | $993 | $(58) | $1,773 | $695 |
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