CNA Financial Q3 earnings decline to $196 million

CNA Financial (NYSE:CNA) reported third-quarter 2026 net income of $196 million, down from $403 million a year earlier, as weaker insurance underwriting and higher catastrophe losses reduced earnings.

Diluted earnings per share declined to $0.72 from $1.48, while core income, a non-GAAP measure, fell to $203 million from $409 million in the corresponding quarter of 2025.

Property and Casualty core income declined to $397 million from $456 million, while its combined ratio increased to 97% from 92.8% and catastrophe losses rose to $78 million from $41 million, although net written premiums increased 3%.

Life and Group recorded a core loss of $171 million compared with $22 million a year earlier, including a $137 million after-tax impact from annual long-term care reserve assumption updates.

CNA said investment portfolio actions are expected to almost entirely offset the unfavorable economic impact, with benefits recognized in earnings over time, and declared a $0.48 quarterly dividend payable December 3, 2026.

The dividend is available to shareholders recorded on November 16, 2026, while the company's investment portfolio generated $635 million in net investment income during the quarter, including $587 million from fixed-income securities and other investments.

CNA continues to manage its Property and Casualty, Life and Group, and investment operations, with management emphasizing underwriting discipline, selective business growth and investment portfolio adjustments as it moves into 2027.