Chicago, Il based CNA Financial Corporation (NYSE:CNA) boasts being the eighth largest commercial insurance writer and the 14th largest property and casualty company in the U.S. The company provides insurance coverage for standard commercial lines, specialty lines, surety, marine and other property and casualty coverages.
CNA Financial has been intensifying its focus on core business and as such has been divesting the non-core operations. Besides aligning International operations, the company is also expanding its underwriting capabilities. CNA Financial remains focused on expense management to facilitate margin expansion.
Currently, CNA Financial has a Zacks Rank #4 (Sell), but that could definitely change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
How was the Bottom Line?
CNA Financial beats estimates. Our consensus called for EPS of 72 cents per share, and the company reported EPS of 74 cents per share.
Key Stats to Note
• P&C combined ratio excluding catastrophe and development was 98.3% compared to 95.3% in the prior year quarter.
• Net operating income was $201 million, which soared 52.3% from $132 million in the year ago quarter.
• Book value (excluding AOCI) as of Jun 30, 2016 was $43.16 per share, down 3.4% from Dec 31, 2015.
• Quarterly dividend declared was 25 cents per share.
Check back later for our full write up on this CNA earnings report later!
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CNA FINL CORP (CNA): Free Stock Analysis Report
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