What is the revenue and EPS growth rate for CNA Financial year over year?

What were the key takeaways from CNA Financial's earnings call?

What is CNA Financial's latest dividend and current dividend yield?

Did CNA Financial beat or miss consensus estimates last quarter?

What does CNA Financial do and what are its main business segments?

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What is the market's earnings forecast for CNA Financial next quarter?

What were the key takeaways from CNA Financial’s earnings call?

- **Record Financial Performance**: Q3 core income up 39% YoY to $409 million, driven by $194 million underwriting gain and 3% net written premium growth.
- **Segment Strength**: Commercial segment's underlying combined ratio hits record low of 90.0%, while International net written premiums surge 15% despite rate declines.
- **LTC Risk Mitigation**: Statutory margin expands to $1.5 billion, with Individual LTC block policy counts set to halve over ten years.
- **Investment Resilience**: Fixed income portfolio yield 4.8%, offsetting market volatility in equity investments.
- **Dividend Confidence**: $0.46 per share dividend declared, supported by $720 million operating cash flow and $11.5 billion statutory capital.

**【CEO Summary Section】**
- **Record Core Income**: Q3 core income of $409 million, up from $293 million YoY, with year-to-date exceeding $1 billion for the first time.
- **Strong Underwriting Gains**: Underwriting income of $194 million, nearly triple the prior year quarter, driven by benign catastrophe losses.
- **Expense Management**: P&C expense ratio of 29.1%, with Commercial segment improving to 26.1%.
- **Segment Growth**: Commercial new business $324 million, Specialty $131 million, and International net written premiums up 15%.

**【CFO Financial Commentary】**
- **Investment Performance**: Net investment income $638 million, up 2% YoY, with fixed income portfolio yield 4.8%.
- **Balance Sheet Strength**: Stockholders' equity $12.5 billion, statutory capital $11.5 billion (record high), and operating cash flow $720 million.
- **LTC Reserves**: Statutory margin $1.5 billion (up from $1.4 billion), with Individual block policy counts expected to decline 65% over ten years.

**【Segment Breakdown】**
- **Commercial**: All-in combined ratio 92.7%, underlying 90.0% (record low), with rate increases 5% and renewal changes 6%.
- **Specialty**: Underlying loss ratio 60.6%, with challenges in financial institutions but strong retention at 86%.
- **International**: New business up 29%, despite rate declines, with policy buyouts reducing risk exposure.

**【Investment Highlights】**
- **Fixed Income Growth**: A-rated portfolio reinvestment rates above 4.4%, contributing to core income growth.
- **Equity Performance**: Limited partnership gains $71 million, offsetting market volatility.

**【Dividend Declaration】**
- Regular quarterly dividend of $0.46 per share, reflecting strong cash flow and capital management.

CNA Financial Corporation(CNA)-20251103-2025 Q3 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CNA

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