CNA

CNA names QBE’s Franzetti EVP of worldwide claim

US insurer CNA has named Daniel Franzetti as executive vice president of worldwide claim, effective 6 April 2020.

CNA’s med mal, umbrella underwriting changes reducing frequency: Robusto

US insurer CNA has noted the positive impact of the higher attachment points that it has introduced for medical malpractice and umbrella business, in addition to accelerating rate increases seen in the fourth quarter.

CNA shares bounce on beat, pricing acceleration and special dividend

Shares in CNA closed up by more than 8.39 percent at $50.78 in New York this morning after the insurer beat Q4 Wall Street forecasts, reported sequentially higher rate increases and unveiled a $2.00 a share special dividend.

CNA expected to trade up as Q4 results beat

Shares in CNA are expected to trade up on Monday after the US carrier reported a consensus beating fourth quarter net income of $273mn, an improved combined ratio and better than expected investment returns, marking a return to the black for the insurer.

Investors send insurance stocks down on tort fears

Shares in Travelers closed down 5 percent in New York with a number of other P&C stocks also showing up red as investors reacted negatively to news of continued tort challenges despite an in-line quarter from the US insurance giant.

CNA gets another improved deal on PL quota share

US insurer CNA has been rewarded for the second year in a row with an additional half a point of ceding commission on its professional liability quota share at a time when reinsurers are typically looking for improved terms on proportional deals, The Insurer can reveal.

Falling UK investment driven by low business confidence: CNA Hardy

Low business confidence is set to extend into the new year, with falling investment figures in the UK attributed to ongoing Brexit uncertainty.

European businesses brace for challenging 2020: CNA Hardy

Business leaders based in Europe have identified cyber, regulatory compliance and economic risks as the top three concerns for 2020, with almost three quarters surveyed by CNA Hardy predicting a moderate to high risk trading environment in the new year.

“Lost ground” won’t be made up until mid-2021: CNA’s Robusto

CNA’s CEO has commented that current rate levels would need to be sustained through mid-2021 to make up the lost ground from loss cost trends outpacing rate changes since early 2015.

CNA misses Q3 analyst consensus as earnings dive

US carrier CNA has reported a third quarter net income of $107mn – or $0.39 per share – and a core income of $102mn, equating to $0.37 per share, heavily missing the expectations of Wall Street analysts.

CNA P&C operations hit by increase in Q2 cats

CNA Financial saw its P&C combined ratio for the second quarter of 2019 increase by 1.9 percentage points compared to the prior year period as catastrophe losses climbed to $38mn (Q2 2018: $26mn).

CNA appoints Winter to lead Chicago hub

US insurer CNA has named Jeremy Winter senior vice president and Chicago branch manager, replacing Steve Wachtel who is retiring after a 40-year insurance career.

CNA swoops on QBE North America’s Gonzalez for general counsel

US insurer CNA has appointed Jose Ramon Gonzalez as executive vice president and general counsel

Axis Re Strategic Partners names Hands head of Australia

Axis Re, the reinsurance arm of Axis Capital Holdings, has named Robert Hands as a head of Australia and strategic account executive of Axis Re Strategic Partners.

Industry needs to be better at servicing global clients: CNA Hardy

As risks become more global, interconnected and intangible, insurers will need to move away from standard annual policies and start building “deeper, more trustworthy relationships” with clients, CNA Hardy’s head of property, marine and energy Carl Day told The Insurer.

CNA earnings beat analyst consensus at Q1

US insurer CNA Financial has revealed first-quarter net income of $342mn, up 17.5 percent on the prior year quarter, as deteriorating underwriting is offset by investment income gains.

CNA share price drops 8%; Robusto confident Q4 “an outlier”

Investors reacted to CNA’s fourth quarter $84mn net loss announced today by sending the share price as low as $42.37 in morning trading, down 8 percent on Friday’s close.

CNA misses as cat losses and investment returns hit Q4 profits

US insurer CNA Financial has revealed a fourth-quarter net loss of $84mn. Its core loss per share of $0.08 - a core loss of $23mn - was a big miss from the mean estimate of six analysts surveyed by MarketWatch of $0.82 earnings per share.

CNA gets improved deal on PL quota share

US insurer CNA has been rewarded by reinsurers for the performance to date of its professional liability quota share with an extra half a point of ceding commission, The Insurer can reveal.