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The commercial insurer s underlying combined ratio prints at 92.7%.
CNA Financial slid close to 15% in the stock market last year.
CNA Financial Corporation (NYSE: CNA) said on Monday that its net income in the fiscal fourth quarter climbed to £281.67 million compared to a much lower £198.70 million in the same quarter last year. Core income, the company added, came in at £243.82 million versus the year-ago figure of £192.87 million.
CNA Financial is currently more than 10% up year to date in the stock market. It is now trading at a per-share price of £31 per share versus a low of £19 per share in May 2020.
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Rate Hikes Boost CNA in Q4 February 9, 2021
CNA Financial Corp. benefited significantly from rate hikes and premium growth in Q4, reporting more than $387 million in net income versus $273 million the year before.
Net income per share during the quarter reached $1.42 per diluted share for the Chicago-based company, up from $1 in Q4 2019.
CNA Chairman and CEO Dino Robusto said the company has been maximizing the benefits of a hardening market.
“We continued to leverage the hardening market conditions, achieving 12 percent in rate increases and 12 percent growth in net written premium as well as improving both our underlying and total combined ratios by over two points,” Robusto touted in prepared remarks. “We are well positioned to extend our strong execution in the favorable market conditions that we expect to continue in 2021.”
CNA Financial Announces Transfer Of Legacy Excess Workers' Compensation Portfolio To Cavello Bay Reinsurance Limited, Chicago, IL (WorkersCompensation.com - CNA Financial Corporation (NYSE: .