CNA

Enstar completes $690mn CNA workers’ comp legacy reinsurance deal

Legacy-to-live powerhouse Enstar Group has completed its previously announced $690mn deal with a subsidiary of CNA Group to reinsure a portfolio of excess workers’ compensation business.

Industry veteran Brosnan named CEO at WR Berkley Syndicate Management

WR Berkley has hired ex-CNA Hardy CEO David Brosnan to head up its own Lloyd’s managing agent, succeeding Alastair Blades who will remain CUO as the carrier separates the roles.

CNA Hardy looks to Axa XL as names Singh UK & EU head of specialty

CNA Hardy has announced the appointment of Ramesh Singh as vice president, head of specialty for the UK and Continental Europe.

Axa XL hires CNA’s Musser to lead central US zone marine unit

Axa XL has hired Brett Musser from CNA as central US zonal marine product leader with the new arrival also appointed marine liabilities product manager.

CNA Hardy appoints The Hartford’s Phipps as head of claims

CNA Hardy has named The Hartford’s Michael Phipps as vice president and head of claims for the UK and Continental Europe.

CNA transfers $690mn of workers’ comp liabilities to Enstar

Enstar has capped off a busy 2020 with a legacy deal for CNA Financial Corporation to transfer $690mn of net excess workers’ compensation liabilities under a retroactive reinsurance agreement with a $1bn aggregate limit.

CNA’s Robusto projects strong rate increases well into 2021

Dino Robusto, chairman and CEO of CNA Financial, is the latest US insurance leader to offer a bullish outlook for the length of rate hardening.

MedPro hires CNA Hardy’s head of specialty Buege

Berkshire Hathaway’s healthcare liability insurance platform MedPro Group has hired CNA Hardy’s head of specialty Rhonda Buege as it looks to further grow its business outside of the US.

CNA extends Robusto’s contract to 2024

US insurer CNA Financial has entered into a new employment agreement with chairman and CEO Dino Robusto that extends the term of his employment through 2024.

CNA P&C swings to $210mn U/W loss in Q2

CNA Financial has reported an underwriting loss of $210mn in its P&C division in the second quarter, compared to a profit of $72mn in the same period last year, as pre-announced catastrophe losses pushed the unit to a 112.3 percent combined ratio.

CNA reveals $301mn of Q2 cat losses, $50mn reviver reserve charge

CNA Financial has announced it expects to report $301mn of net catastrophe losses in the second quarter, with $182mn related to Covid-19, $61mn related to civil unrest and $58mn related primarily to severe weather-related events.

Pen extends CNA Hardy partnership with construction capacity deal

Gallagher’s UK MGA arm Pen Underwriting has renewed its capacity partnership with CNA Hardy in a deal which will see the specialist insurer provide capacity for up to £50mn ($62.6mn) in premiums for Pen’s construction business.

CNA latest to sign up to AIR’s Touchstone cat modelling platform

CNA is now using AIR Worldwide’s Touchstone offering as its primary catastrophe risk modelling platform, with the risk modeller providing support to the Chicago, Illinois-headquartered carrier’s newly formed national accounts business line.

Rehman named CNA Hardy UK & Ireland CEO as Brosnan steps down

CNA Hardy’s chief operating officer Jalil Rehman has been named president and CEO for UK & Europe, succeeding David Brosnan who is set to retire in September.

CNA’s US and international property policies exclude virus: Robusto

Shares in CNA were up 3 percent this morning after CEO Dino Robusto told analysts that the insurer’s property policies exclude virus, its aging services book has minimal exposure to workers comp for frontline health care providers, and its healthcare professional liability portfolio has been de-risked.

CNA shares trade down as Q1 results miss

Shares in CNA were trading 1.1 percent lower shortly after the open on Monday after the Dino Robusto-led carrier delivered an operating EPS of $0.40, missing the Street’s $0.80 consensus.

Investment hit drives CNA to Q1 $61mn net loss

US carrier CNA has unveiled a net loss of $61mn in the first quarter, primarily driven by net investment losses of $169mn together with a more modest $15mn dent for Covid-19 related claims.

Insurers to pay $26mn of Diocese of New Ulm sexual abuse settlement

A Minnesota bankruptcy court judge has approved a $34mn settlement between the Diocese of New Ulm and sexual abuse victims, with $26mn funded by insurers including CNA and Zurich.

CNA promotes Miralles to CFO after Anderson resigns

CNA has appointed Al Miralles as executive vice president and chief financial officer, succeeding James Anderson who has resigned to pursue other opportunities.

CNA names Chubb’s Hopper as chief actuary

CNA has announced that executive vice president and chief actuary Larry Haefner will retire at the end of the year, with Robert Hopper joining from Chubb to replace him.

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