- Q4 NET LOSS OF $84M, $(0.31) PER SHARE; Q4 CORE LOSS OF $23M, $(0.08) PER SHARE
- Q4 P&C COMBINED RATIO OF 105.4%; Q4 P&C UNDERLYING COMBINED RATIO OF 98.0%
- FULL YEAR 2018 P&C COMBINED RATIO OF 96.7% VS 97.1% FULL YEAR 2017
- FULL YEAR 2018 P&C UNDERLYING COMBINED RATIO OF 95.4% VS 95.5% FULL YEAR 2017
- QUARTERLY DIVIDEND OF $0.35 PER SHARE
- SPECIAL DIVIDEND OF $2.00 PER SHARE
CHICAGO, February 11, 2019 - CNA Financial Corporation (NYSE: CNA) today announced a fourth quarter 2018 net loss of $84 million, or $(0.31) per share, and a core loss of $23 million, or $(0.08) per share, with catastrophe losses and investment returns from limited partnership and common equities accounting for $(0.82) per diluted share. Property & Casualty Operations combined ratio for the fourth quarter was 105.4% and the underlying combined ratio was 98.0%. Property & Casualty Operations net written premium increased 4% compared with the prior year quarter.
Fourth quarter 2018 core results decreased $309 million from the prior year period. Contributing to this variance was lower investment returns on our limited partnership and common equity portfolios of $143 million, higher net catastrophe losses of $91 million and higher non-catastrophe current accident year losses driven by increased property losses as well as increased professional liability losses in our London operation.
Core income (loss) for our Life & Group and Corporate & Other segments was $7 million and $(46) million, respectively.
CNA Financial declared a quarterly dividend of $0.35 per share and a special dividend of $2.00 per share, payable March 14, 2019 to stockholders of record on February 25, 2019.
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