{"id":7874,"date":"2018-04-30T06:00:18","date_gmt":"2018-04-30T10:00:18","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=0da75c8341e475d628a846e1ff22e0ee"},"modified":"2018-04-30T06:00:18","modified_gmt":"2018-04-30T10:00:18","slug":"cna-financial-announces-1q-results","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/30\/cna-financial-announces-1q-results\/","title":{"rendered":"CNA Financial Announces 1Q Results"},"content":{"rendered":"<div class=\"xn-content\">\n<p>CHICAGO, April 30, 2018 \/PRNewswire\/ &#8212;\u00a0CNA Financial Corporation (NYSE: CNA) today announced first quarter 2018 net income of $291 million, or $1.07 per share, and core income of $281 million, or $1.03 per share.\u00a0 Property &amp; Casualty Operations combined ratio for the first quarter was 93.1% compared with 97.2% in the first quarter of 2017.\u00a0 Net investment income, after tax, was $405 million for the first quarter of 2018.<\/p>\n<p>CNA Financial declared a quarterly dividend of $0.30 per share, payable May\u00a030, 2018 to stockholders of record on May\u00a014, 2018.<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen3\" colspan=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months Ended<br \/>\nMarch 31<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions, except per share data)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income<sup>(b)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">291<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">260<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income <sup>(b)(c)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">281<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">235<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntar prnpl10 prnsbl1 prnpr6\"><\/td>\n<td class=\"prngen2\" colspan=\"3\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income per diluted share<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.07<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.96<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income per diluted share<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.03<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.87<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen2\" colspan=\"2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen9\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March\u00a031, 2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen9\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December\u00a031, 2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Book value per share<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42.10<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45.15<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Book value per share excluding AOCI<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">43.57<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45.02<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTable9f54\" class=\"prntblns\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>(a)\u00a0\u00a0<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Adjusted for the Small Business premium rate adjustment in the prior period. <\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>(b)\u00a0<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Results in the quarter benefited from the reduction of the U.S. Federal tax rate from 35% to 21%.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>(c)\u00a0\u00a0<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Management utilizes the core income (loss) financial measure to monitor the Company&#8217;s operations. Please refer herein to the Reconciliation of GAAP Measures to Non-GAAP Measures section of this press release for further discussion of this non-GAAP measure.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&#8220;CNA had a strong start to 2018, generating core income of $281 million driven by the highest level of pre-tax underlying underwriting income in over 10 years.\u00a0 This underwriting result was driven by an excellent underlying loss ratio of 60%, lower expense ratio and strong growth,&#8221; said Dino E. Robusto, Chairman and Chief Executive Officer of CNA Financial Corporation.\u00a0 &#8220;In addition, our run-off long term care business again generated positive core income reflecting our disciplined approach towards managing this operation.&#8221;<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen11\" colspan=\"10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Property &amp; Casualty Operations<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen3\" colspan=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months Ended<br \/>\nMarch 31<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net written premiums<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,813<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,632<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">NWP change (% year over year)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net investment income<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">285<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">343<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">327<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">268<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">60.0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62.2<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of catastrophe impacts<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.1<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.2<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of development-related items<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2.2)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2.4)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">59.9<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62.0<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Expense ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">32.8<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">34.9<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">93.1<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">97.2<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">93.2<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">97.4<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<ul type=\"disc\">\n<li>The combined ratio excluding catastrophes and development improved 4.2 points as compared with the prior year quarter driven by 2.2 points of improvement in the underlying loss ratio and a 2.1 point improvement in the expense ratio driven by higher net earned premiums.<\/li>\n<li>The combined ratio improved 4.1 points as compared with the prior year quarter.\u00a0 Net catastrophe losses were $34 million, or 2.1 points of the loss ratio, in the quarter as compared with $34 million, or 2.2 points of the loss ratio, for the prior year quarter.\u00a0 Favorable net prior period development improved the loss ratio by 2.2 points in the quarter as compared with a 2.4 point improvement in the prior year quarter.<\/li>\n<li>Net written premiums grew 11% in the quarter.\u00a0 Adjusted for the negative Small Business premium rate adjustment in the prior year period, net written premiums grew 8%.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\" colspan=\"10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Business Operating Highlights<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Specialty<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen3\" colspan=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months Ended<br \/>\nMarch 31<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net written premiums<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">686<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">670<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">NWP change (% year over year)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">171<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">137<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">60.3<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62.9<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of catastrophe impacts<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.6<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of development-related items<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4.5)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2.3)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56.3<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61.2<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Expense ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31.0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31.9<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87.5<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">93.2<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">91.5<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">94.9<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<ul type=\"disc\">\n<li>\u00a0The combined ratio excluding catastrophes and development improved 3.4 points as compared with the prior year quarter driven by a 2.6 point improvement in the underlying loss ratio and a 0.9 point improvement in the expense ratio.<\/li>\n<li>The combined ratio improved 5.7 points for the first quarter of 2018 as compared with the prior year quarter.\u00a0 Favorable net prior period development improved the loss ratio by 4.5 points in the quarter as compared with a 2.3 point improvement in the prior year quarter.<\/li>\n<li>Net written premiums for Specialty increased 2% for the first quarter of 2018 as compared with the prior year quarter due to higher new business and positive renewal premium change.<\/li>\n<\/ul>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen11\" colspan=\"10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Commercial<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen3\" colspan=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months Ended<br \/>\nMarch 31<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net written premiums<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">832<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">724<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">NWP change (% year over year)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">133<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">111<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">59.8<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62.2<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of catastrophe impacts<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.9<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.9<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of development-related items<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.7)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2.2)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63.0<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63.9<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Expense ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">33.5<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37.3<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">97.1<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">101.7<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">93.9<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">100.0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<ul type=\"disc\">\n<li>After adjusting for the Small Business premium rate adjustment in the prior period, the combined ratio excluding catastrophes and development improved 4.1 points as compared with the prior year quarter driven by 2.4 points of improvement in the underlying loss ratio as well as 1.8 points of improvement in the expense ratio driven by higher net earned premiums.<\/li>\n<li>The combined ratio improved 4.6 points; however, it increased 0.9 points excluding the effect of the Small Business premium rate adjustment.\u00a0 Net catastrophe losses were $29 million, or 3.9 points of the loss ratio, for the first quarter of 2018, as compared to $27 million, or 3.9 points of the loss ratio, for the prior year quarter.\u00a0 Favorable net prior period development improved the loss ratio by 0.7 points in the quarter as compared with a 2.2 point improvement in the prior year quarter.<\/li>\n<li>Net written premiums for Commercial were 15% higher for the first quarter of 2018 as compared with the prior year quarter.\u00a0 The prior period included an unfavorable premium rate adjustment in Small Business.\u00a0 Excluding the Small Business premium rate adjustment, net written premiums increased\u00a0 8% driven by higher new business and positive renewal premium change.<\/li>\n<\/ul>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\" colspan=\"10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>International<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen3\" colspan=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months Ended<br \/>\nMarch 31<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net written premiums<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">295<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">238<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">NWP change (% year over year)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">24<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">59.9<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">59.6<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of catastrophe impacts<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.7<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.7<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of development-related items<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.2)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3.0)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">60.4<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen19\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">58.3<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Expense ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">36.2<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">36.8<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\"><\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96.6<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95.1<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Combined ratio excluding catastrophes and development<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96.1<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96.4<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<ul type=\"disc\">\n<li>The combined ratio excluding catastrophes and development improved 0.3 points as compared with the prior year quarter driven by a 0.6 point decrease in the expense ratio due to higher net earned premiums.<\/li>\n<li>The combined ratio increased 1.5 points for the first quarter of 2018 as compared with the prior year quarter.\u00a0 Favorable net prior period development improved the loss ratio by 0.2 points in the quarter as compared with a 3.0 point improvement in the prior year quarter.<\/li>\n<li>Net written premiums for International increased 24%, or 14% excluding currency fluctuations, for the first quarter of 2018 as compared with the prior year quarter due to broad based growth across all of our platforms driven by higher new business, positive renewal premium change and higher retention.<\/li>\n<\/ul>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\" colspan=\"10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Life &amp; Group<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen3\" colspan=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months Ended<br \/>\nMarch 31<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net investment income<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">200<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">197<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen7\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total operating revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">335<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">331<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Core income increased $10 million for the first quarter of 2018 as compared with the prior year quarter.\u00a0\u00a0 The increase was driven by favorable persistency, and further helped by rate increases.<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\" colspan=\"10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Corporate &amp; Other<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen3\" colspan=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months Ended<br \/>\nMarch 31<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen13\" colspan=\"4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net investment income<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">34<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">38<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core loss<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(60)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen2\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(37)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Core loss increased $23 million for the first quarter of 2018 as compared with the prior year quarter.\u00a0 The result of retroactive reinsurance accounting driven by additional cessions to the A&amp;EP Loss Portfolio Transfer in the first quarter was a $32 million after-tax non-economic charge compared with $13 million in the prior year quarter.<\/p>\n<p><b>Net Investment Income<\/b><\/p>\n<p>Pretax net investment income decreased $55 million for the first quarter of 2018 as compared with the prior year quarter.\u00a0 The decrease was driven by limited partnership investments, which returned 1.2% in 2018 as compared with 3.8% in the prior year period.\u00a0 However, despite the decline in limited partnership income,\u00a0 net investment income, after tax, increased $16 million for the first quarter of 2018 given stable fixed income returns and the lower tax rate.<\/p>\n<p><!-- AMC BEGIN ABOUT --><\/p>\n<p><b>About the Company<\/b><\/p>\n<p>CNA is the eighth largest commercial insurer in the United States.\u00a0 CNA provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada, Europe and Asia, backed by 120 years of experience and more than $45 billion of assets.\u00a0\u00a0For more information about CNA, visit our website at <u><a href=\"http:\/\/www.cna.com\/\"  rel=\"nofollow noopener\">www.cna.com<\/a><\/u>.\u00a0&#8220;CNA&#8221; is a service mark registered by CNA Financial Corporation with the United States Patent and Trademark Office. Certain CNA Financial Corporation subsidiaries use the &#8220;CNA&#8221; service mark in connection with insurance underwriting and claims activities.<\/p>\n<p><b>Conference Call and Webcast\/Presentation Information<\/b><\/p>\n<p>A conference call for investors and the professional investment community will be held at 10:00 a.m. (ET) today.\u00a0 On the conference call will be Dino E. Robusto, Chairman and Chief Executive Officer of CNA Financial Corporation, and other members of senior management.\u00a0 Participants can access the call by dialing (888) 572-7025, or for international callers, (719) 325-2420.\u00a0 The call will also be broadcast live on the internet at <u><a href=\"http:\/\/investor.cna.com\/\"  rel=\"nofollow noopener\">http:\/\/investor.cna.com<\/a><\/u>\u00a0or you may go to the investor relations pages of the CNA website (<u><a href=\"http:\/\/www.cna.com\/\"  rel=\"nofollow noopener\">www.cna.com<\/a><\/u>) for further details.\u00a0 A presentation will be posted and available on the CNA website and will provide additional insight into the results.<\/p>\n<p>The call is available to the media, but questions will be restricted to investors and the professional investment community. An online replay will be available on CNA&#8217;s website following the call.\u00a0 Financial supplement information related to the results is available on the investor relations pages of the CNA website or by contacting Robert Tardella at 312-822-4387.<\/p>\n<p><b>Definition of Reported Segments<\/b><\/p>\n<ul type=\"disc\">\n<li><b>Specialty<\/b> provides management and professional liability and other coverages through property and casualty products and services using a network of brokers, independent agencies and managing general underwriters.<\/li>\n<li><b>Commercial<\/b> works with an independent agency distribution system and a network of brokers to market a broad range of property and casualty insurance products and services to small, middle-market and large businesses and organizations.<\/li>\n<li><b>International<\/b> provides property and casualty insurance and specialty coverages on a global basis through its operations in Canada, the United Kingdom, Continental Europe and Singapore as well as through its presence at Lloyd&#8217;s of London.<\/li>\n<li><b>Life &amp; Group <\/b>primarily includes the results of the individual and group long term care businesses that are in run off.<\/li>\n<li><b>Corporate &amp; Other <\/b>primarily includes certain corporate expenses, including interest on corporate debt, and the results of certain property and casualty business in run-off, including CNA Re and asbestos and environmental pollution.<\/li>\n<\/ul>\n<p><b>Financial Measures<\/b><\/p>\n<p>Management utilizes the following metrics in their evaluation of the Property &amp; Casualty Operations.\u00a0 These ratios are calculated using financial results prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).<\/p>\n<ul type=\"disc\">\n<li><b>Loss ratio<\/b> is the percentage of net incurred claim and claim adjustment expenses to net earned premiums.<\/li>\n<li><b>Underlying loss ratio<\/b> represents the loss ratio excluding catastrophes and development.<\/li>\n<li><b>Expense ratio<\/b> is the percentage of insurance underwriting and acquisition expenses, including the amortization of deferred acquisition costs, to net earned premiums.<\/li>\n<li><b>Dividend ratio<\/b> is the ratio of policyholders&#8217; dividends incurred to net earned premiums.<\/li>\n<li><b>Combined ratio<\/b> is the sum of the loss, expense and dividend ratios.<\/li>\n<li><b>Underlying combined ratio<\/b> is the sum of the underlying loss, expense and dividend ratios.<\/li>\n<li><b>Renewal premium change<\/b> represents the estimated change in average premium on policies that renew, including rate and exposure changes.<\/li>\n<li><b>Rate<\/b> represents the average change in price on policies that renew excluding exposure change.<\/li>\n<li><b>Retention<\/b> represents the percentage of premium dollars renewed in comparison to the expiring premium dollars from policies available to renew.<\/li>\n<li><b>New business<\/b> represents premiums from policies written with new customers and additional policies written with existing customers.<\/li>\n<\/ul>\n<p>The Company&#8217;s investment portfolio is monitored by management through analysis of various factors including unrealized gains and losses on securities, portfolio duration and exposure to market and credit risk.<\/p>\n<p><b>Reconciliation of GAAP Measures to Non-GAAP Measures<\/b><\/p>\n<p>This press release also contains financial measures that are not in accordance with GAAP.\u00a0 Management utilizes these financial measures to monitor the Company&#8217;s insurance operations and investment portfolio.\u00a0 The Company believes the presentation of these measures provides investors with a better understanding of the significant factors that comprise the Company&#8217;s operating performance.\u00a0 Reconciliations of these measures to the most comparable GAAP measures follow below.<\/p>\n<p><b><i>Reconciliation of Net Income to Core Income<\/i><\/b><\/p>\n<p><b>Core income (loss)<\/b> is calculated by excluding from net income (loss) the after-tax effects of i) net realized investment gains or losses, ii) income or loss from discontinued operations, iii) any cumulative effects of changes in accounting guidance and iv) deferred tax asset and liability remeasurement as a result of an enacted U.S. Federal tax rate change.\u00a0 The calculation of core income (loss) excludes net realized investment gains or losses because net realized investment gains or losses are generally driven by economic factors that are not necessarily consistent with key drivers of underwriting performance, and are therefore not considered an indication of trends in insurance operations.\u00a0 Management monitors core income (loss) for each business segment to assess segment performance.\u00a0 Presentation of consolidated core income (loss) is deemed to be a non-GAAP financial measure.<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen3\" colspan=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months<br \/>\nEnded March\u00a031<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">291<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">260<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Net realized investment gains<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">281<\/span><\/p>\n<\/td>\n<td class=\"prngen21\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">235<\/span><\/p>\n<\/td>\n<td class=\"prngen21\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><b><i>Reconciliation of Net Income per Diluted Share to Core Income per Diluted Share<\/i><\/b><\/p>\n<p><b>Core income (loss) per diluted share <\/b>provides management and investors with a valuable measure of the Company&#8217;s operating performance for the same reasons applicable to its underlying measure, core income (loss).\u00a0 Core income per diluted share is core income on a per diluted share basis.<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen3\" colspan=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months<br \/>\nEnded March\u00a031<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income per diluted share<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.07<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.96<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Net realized investment gains<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.04<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.09<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core income per diluted share<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.03<\/span><\/p>\n<\/td>\n<td class=\"prngen21\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.87<\/span><\/p>\n<\/td>\n<td class=\"prngen21\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><b><i>Reconciliation of Book Value per Share to Book Value per Share Excluding AOCI<\/i><\/b><\/p>\n<p><b>Book value per share excluding AOCI <\/b>allows management and investors to analyze the amount of the Company&#8217;s net worth primarily attributable to the Company&#8217;s business operations. \u00a0The Company believes this measurement is useful as it reduces the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates.<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen9\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March\u00a031,<br \/>\n2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntac prnpl6 prnsbl1 prnpr8\"><\/td>\n<td class=\"prngen9\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December\u00a031,<br \/>\n2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Book value per share<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42.10<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45.15<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Per share impact of AOCI<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1.47)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.13<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Book value per share excluding AOCI<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">43.57<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45.02<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><b><i>Calculation of Return on Equity and Core Return on Equity<\/i><\/b><\/p>\n<p><b>Core return on equity<\/b> provides management and investors with a measure of how effectively the Company is investing the portion of the Company&#8217;s net worth that is primarily attributable to its business operations.<\/p>\n<div>\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen3\" colspan=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Results for the Three Months<br \/>\nEnded March\u00a031<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen5\" colspan=\"3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Annualized net income<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,166<\/span><\/p>\n<\/td>\n<td class=\"prngen7\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,038<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average stockholders&#8217; equity including AOCI <sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,835<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,831<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Return on equity<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9.8<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8.8<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"3\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\" colspan=\"3\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Annualized core income<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,122<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">941<\/span><\/p>\n<\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average stockholders&#8217; equity excluding AOCI <sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,018<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen17\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,963<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Core return on equity<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9.3<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7.9<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTable0021\" class=\"prntblns\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>(a)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Average stockholders&#8217; equity is calculated using a simple average of the beginning and ending balances for the period.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>For additional information, please refer herein and\/or to CNA&#8217;s most recent 10-K on file with the Securities and Exchange Commission, as well as the financial supplement, available at <u><a href=\"http:\/\/www.cna.com\/\"  rel=\"nofollow noopener\">www.cna.com<\/a><\/u>.<\/p>\n<p><b>Forward-Looking Statement<\/b><\/p>\n<p><!-- AMC END ABOUT --><!-- AMC BEGIN SAFE-HARBOR --><\/p>\n<p>This press release may include statements which relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events.\u00a0 These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;anticipates,&#8221; &#8220;estimates&#8221; and similar expressions.\u00a0 Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected.\u00a0 Many of these risks and uncertainties cannot be controlled by CNA. For a detailed description of these risks and uncertainties affecting CNA, please refer to CNA&#8217;s most recent 10-K on file with the Securities and Exchange Commission available at <u><a href=\"http:\/\/www.cna.com\/\"  rel=\"nofollow noopener\">www.cna.com<\/a><\/u>.<\/p>\n<p>Any forward-looking statements made in this press release are made by CNA as of the date of this press release.\u00a0 Further, CNA does not have any obligation to update or revise any forward-looking statement contained in this press release, even if CNA&#8217;s expectations or any related events, conditions or circumstances change.<\/p>\n<div id=\"DivAssetPlaceHolder5221\" class=\"PRN_ImbeddedAssetReference\">\n<p><img decoding=\"async\" title=\"CNA logo. (PRNewsFoto\/CNA Financial Corporation) (PRNewsfoto\/CNA)\" src=\"https:\/\/mma.prnewswire.com\/media\/594310\/CNA_FINANCIAL_CORPORATION_LOGO.jpg\" alt=\"CNA logo. (PRNewsFoto\/CNA Financial Corporation) (PRNewsfoto\/CNA)\" \/><\/p>\n<\/div>\n<div id=\"DivAssetPlaceHolder0\" class=\"PRN_ImbeddedAssetReference\"><\/div>\n<p id=\"PURL\"><img decoding=\"async\" loading=\"lazy\" title=\"Cision ID\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY80332&amp;sd=2018-04-30\" alt=\"Cision\" width=\"12\" height=\"12\" \/> View original content with multimedia:<a id=\"PRNURL\" href=\"http:\/\/www.prnewswire.com\/news-releases\/cna-financial-announces-first-quarter-2018-results-300638674.html\" rel=\"nofollow\">http:\/\/www.prnewswire.com\/news-releases\/cna-financial-announces-first-quarter-2018-results-300638674.html<\/a><\/p>\n<p>SOURCE CNA Financial Corporation<\/p>\n<\/div>\n<p><!-- AMC END SAFE-HARBOR --><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/insurancenewsnet.com\/oarticle\/cna-financial-announces-first-quarter-2018-results\">CNA Financial Announces 1Q Results<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/insurancenewsnet.com\/\">InsuranceNewsNet<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211;CNA Financial Corporation today announced first quarter 2018 net income of $291 million, or $1.07 per share, and core income of $281 million, or $1.03 per share. CNA Financial declared a quarterly dividend of $0.30 per share, payable May 30, 2018 to stockholders of record on May 14, 2018. This underwriting result was driven by an excellent underlying loss ratio of&#8230;<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/insurancenewsnet.com\/oarticle\/cna-financial-announces-first-quarter-2018-results\">CNA Financial Announces 1Q Results<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/insurancenewsnet.com\/\">InsuranceNewsNet<\/a>.<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/7874"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=7874"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/7874\/revisions"}],"predecessor-version":[{"id":7876,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/7874\/revisions\/7876"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=7874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=7874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=7874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}