CNA - CNA Financial Non-GAAP EPS of $1.19 misses by $0.03
2023-05-01 06:05:05 ET
- CNA Financial press release ( NYSE: CNA ): Q1 Non-GAAP EPS of $1.19 misses by $0.03 .
- P&C core income of $346 million versus $321 million, reflects higher investment income and record high pretax underlying underwriting income of $197 million, partially offset by higher pretax catastrophe losses and unfavorable prior period development.
- Net investment income up 17% to $525 million pretax, includes a $57 million increase from fixed income securities and other investments to $497 million and a $20 million increase from limited partnerships and common stock to $28 million.
- P&C combined ratio of 93.9%, compared with 91.9% in the prior year quarter, including 2.4 points of catastrophe loss impact compared with 1.0 points in the prior year quarter. The underlying combined ratio was 90.8% compared with 91.4%, in the prior year quarter. The underlying loss ratio was 59.8% and the expense ratio was 30.7%.
- Book value per share of $32.00; book value per share excluding AOCI of $44.21, a 2% increase from year-end 2022 adjusting for $1.62 of dividends per share.
- Board of Directors declares regular quarterly cash dividend of $0.42 per share.
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CNA Financial Non-GAAP EPS of $1.19 misses by $0.03