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L - The Right Time To Buy CNA And Its 7% Dividend Yield?
Loews Corporation
Executive Summary
On the 28th of October, CNA Financial (CNA) reported its quarterly results for the third quarter of the year. Following two excellent quarters, CNA was adversely impacted by a $170M after-tax charge related to the active life reserve unlocking. In addition, the year-over-year combined ratio worsened by 3.4 points to 97.6% because of run-off losses partially offset by lower catastrophe losses.
Consequently, the insurer reported a $107 million net income for the third quarter, or a 68% decline. The year-to-date net income dropped by $170 million to $727 million, resulting