CNA Returns to Black in Q3 With Web Revenue of $258 Million

CNA Monetary reversed a 3rd quarter lack of $42 million in 2022 with web revenue of $258 million this 12 months on greater funding revenue, constructive underwriting revenue and decrease disaster losses.

The Chicago-based insurer stated the mixed ratio in its third quarter property/casualty operations improved 1.5 factors to 94.3. Disaster losses throughout Q3 have been $94 million in comparison with $114 million the prior 12 months quarter.

Web written premiums in P/C improved 6% in comparison with Q3 2022 to about $2.2 billion. CNA report a Q3 underwriting acquire of $131 million in comparison with $84 a 12 months in the past throughout the identical quarter.

Web written premiums within the specialty phase decreased 2% to $825 million however went up 11% within the industrial phase to about $1.1 billion. The industrial phase recorded an underwriting acquire of $13 million in comparison with a lack of $23 million in Q3 2022.

The mixed ratio throughout Q3 in industrial was 98.9 in comparison with 101.9 a 12 months in the past. Disaster losses have been $87 million in Q3 in comparison with $103 million a 12 months in the past throughout the identical interval.

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