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CNA Financial Q3 Net Income Up

Net results for q3 2009 improved $594m as compared with q3 in 2008

CNA Financial Corporation has announced third quarter 2009 results, which included net operating income of $331m, or $1.11 per common share, and net income of $263m, or $0.86 per common share.

The combined ratio for poroperty & casualty operations was 101.0% for the quarter.

The net operating income for the three months ended September 30, 2009 improved $248m as compared with the same period in 2008. The net operating income for the core property & casualty operations increased $179m, while results for the non-core operations increased $69m.

Thomas Motamed, chairman and CEO of CNA Financial Corporation, said: “CNA turned in another quarter of solid operating income, driven by improved investment income and relatively light catastrophe losses. In our core property & casualty operations, we are pleased with the continued strong performance of the specialty lines segment.”

The net results for the three months ended September 30, 2009 improved $594m as compared with the same period in 2008.

The net operating income for the nine months ended September 30, 2009 improved $231m as compared with the same period in 2008. The net operating income for the core property & casualty operations increased $189m, while results for the non-core operations increased $42m. The net income for the nine months ended September 30, 2009 improved $136m as compared with the same period in 2008.