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CNA Financial Reports Q2 Results

Net operating income of $305 million, or $1.02 per common share

CNA Financial Corporation, a US-based commercial insurance writer, property and casualty company, has announced second quarter 2009 results. The company’s net operating income was $305 million, or $1.02 per common share, whereas the net income was $105 million, or $0.27 per common share.

The combined ratio for Property & Casualty Operations was 98.1% for the quarter. Book value per common share was $27.53 at June 30, 2009, as compared to $21.57 at March 31, 2009 and $20.92 at December 31, 2008.

Net operating income for the three months ended June 30, 2009 increased $55 million, as compared to the same period in 2008. Net operating income for the company’s core Property & Casualty Operations increased $49 million, while results for its non-core operations increased $6 million.

The company’s Standard Lines net income for the second quarter of 2009 decreased $50 million, as compared with the same period in 2008. Specialty Lines net income decreased $21 million during the same period.

Life & Group Non-Core net loss for the second quarter of 2009 decreased $17 million, as compared to the same period in 2008.