CNA Financial (CNA) Misses Q1 EPS by 28c

CNA Financial (NYSE: CNA) reported Q1 EPS of $0.40, $0.28 worse than the analyst estimate of $0.68.

"Our first quarter financial results reflected strong underwriting performance, and included an underlying combined ratio of 93.9%, a one point improvement from a year ago, along with net written premium growth of 6% in the U.S. and 3% overall. These results were adversely impacted by disruption in the financial markets due to COVID-19, which led to unfavorable returns on our alternative investments and equity holdings while our fixed income investments generated steady earnings in line with the last four quarters," said Dino E. Robusto, Chairman and Chief Executive Officer of CNA Financial Corporation. "As we look ahead at these unprecedented and challenging times our thoughts go out to those most affected by the COVID-19 pandemic, and we are tremendously grateful for all the medical professionals and first responders who put their lives on the line every day."

For earnings history and earnings-related data on CNA Financial (CNA) click here.

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