CNA

EX-99.1

2 q32026exhibit991.htm

EX-99.1

Document

FOR IMMEDIATE RELEASE

CNA FINANCIAL ANNOUNCES THIRD QUARTER 2026

NET INCOME OF $0.72 PER SHARE AND CORE INCOME OF $0.75 PER SHARE

•Net income of $196 million versus $403 million in the prior year quarter; core income of $203 million versus $409 million in the prior year quarter.

•P&C core income of $397 million versus $456 million, reflects lower underlying underwriting results and higher catastrophe losses.

•Life & Group core loss of $171 million versus $22 million in the prior year quarter, reflects an unfavorable after-tax impact of $137 million in 2026 from our annual long-term care reserve assumption updates. However, the unfavorable reserve assumption updates are almost entirely offset by a favorable economic impact from recent investment portfolio actions, the anticipated benefit of which is not reflected in current period earnings under GAAP accounting.

•Corporate & Other core loss of $23 million versus $25 million in the prior year quarter.

•Net investment income of $635 million, reflects a $23 million decrease from limited partnerships and common stock to $48 million and a $20 million increase from fixed income securities and other investments to $587 million.

•P&C combined ratio of 97.0%, compared with 92.8% in the prior year quarter, including 2.8 points of catastrophe loss impact compared with 1.5 points in the prior year quarter. There was no net prior period development impact in the current or prior year quarters.

•Catastrophe losses of $78 million pretax versus $41 million in the prior year quarter.

•P&C underlying combined ratio was 94.2%, compared with 91.3% in the prior year quarter. P&C underlying loss ratio was 64.1%, up 2.2 points from the prior year quarter, and the expense ratio was 29.7%. Both the underlying loss ratio and the expense ratio were consistent with the first half of 2026.

•P&C segments generated net written premium growth of 3% in the quarter. P&C renewal premium change of +3%, with written rate of +2%.

•Book value per share of $37.80; book value per share excluding AOCI of $46.11, a 5% increase from year-end 2025 adjusting for $3.44 of dividends per share paid.

•Board of Directors declares regular quarterly cash dividend of $0.48 per share.

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CHICAGO, November 2, 2026 --- CNA Financial Corporation (NYSE: CNA) today announced third quarter 2026 net income of $196 million, or $0.72 per share, versus $403 million, or $1.48 per share, in the prior year quarter. Net investment losses for the quarter were $7 million compared to $6 million in the prior year quarter. Core income for the quarter was $203 million, or $0.75 per share, versus $409 million, or $1.50 per share, in the prior year quarter.

Our Property & Casualty segments delivered core income of $397 million for the third quarter of 2026, a decrease of $59 million compared to the prior year quarter reflecting lower underlying underwriting results and higher catastrophe losses. P&C segments generated net written premium growth of 3%, due to renewal premium change of +3% and written rate of +2%.

Our Life & Group segment produced a core loss of $171 million for the third quarter of 2026 versus $22 million in the prior year quarter, reflecting an unfavorable after-tax impact of $137 million in 2026 from our annual long-term care reserve assumption updates. However, the unfavorable reserve assumption updates are almost entirely offset by a favorable economic impact from recent investment portfolio actions, the anticipated benefit of which is not reflected in current period earnings under GAAP accounting.

Our Corporate & Other segment reported a core loss of $23 million for the third quarter of 2026 versus $25 million in the prior year quarter.

CNA Financial declared a quarterly cash dividend of $0.48 per share, payable December 3, 2026 to stockholders of record on November 16, 2026.

Results for the Three Months Ended September 30Results for the Nine Months Ended September 30

($ millions, except per share data)2026202520262025

Net income$196 $403 $728 $976

Core income (a) 203 409 752 1,025

Net income per diluted share$0.72 $1.48 $2.67 $3.58

Core income per diluted share0.75 1.50 2.77 3.76

September 30, 2026December 31, 2025

Book value per share$37.80$42.93

Book value per share excluding AOCI46.1146.99

(a)Management utilizes the core income (loss) financial measure to monitor the Company'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.

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“We delivered strong third quarter results with core income of $203 million reflecting disciplined growth, high-quality underwriting results and solid investment income, even with the unfavorable accounting impact from the annual LTC reserve assumption updates. The LTC assumption updates, coupled with recent fixed income duration extension trades, confirms our belief that the r

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