How did CNA's Q1 2024 EPS outperform forecasts?

CNA's Q1 2024 EPS outperformed forecasts due to several key factors: 1. **Higher Investment Income**: CNA Financial Corporation reported higher fourth-quarter earnings, primarily driven by higher investment income. The company's net investment income increased to $611 million, up from $503 million in the prior year, due to favorable returns from limited partnership investments and higher income from fixed-income securities, which benefited from the rising interest rate environment. 2. **Strong Underwriting Results**: The company's Property & Casualty Operations unit showed improved core income, with CNA's core income for the quarter being $434 million, up from $342 million in the same period a year earlier. This indicates enhanced operational efficiency and market positioning. 3. **Effective Capital Deployment**: CNA's strategic capital deployment has been effective, supporting business growth and profitability. The company's focus on new business opportunities, improved underwriting results, and higher earned premiums has contributed to its strong financial performance. In summary, CNA's outperformance in Q1 2024 EPS can be attributed to higher investment income, strong underwriting results, and effective capital deployment. These factors collectively contribute to the company's robust financial performance and earnings growth.