CNA Financial Q3 Profit Rises

(RTTNews) - CNA Financial Corp (CNA) on Monday reported net income of $403 million or $1.48 per share for the third quarter, higher than $283 million or $1.04 per share for the same quarter a year ago.

"We achieved record core income of $409 million in the quarter, with year to date core income surpassing $1billion for the first time in history. Underwriting income was exceptionally strong at $194 million, nearly triple the prior year's quarter, aided by low catastrophe losses," the company said in a statement.

Core income rose to $409 million or $1.50 per share from $293 million or $1.08 per share in the prior year quarter.

Net earned premiums increased to $2.678 billion from $2.484 billion a year ago.

Net investment income rose to $396 million from $372 million last year.

CNA Financial declared a quarterly dividend of $0.46 per share, payable on December 4, to stockholders of record on November 17.