Daily Insurance Industry News
Daily Insurance Industry News
Friday 22nd of February 2019
October 30, 2012

CNA reports rising Q3 and 9M profits

by Richard Kilner

Story link: CNA reports rising Q3 and 9M profits

CNA Financial Corporation has reported its financial results for the third quarter of 2012, including net income of $221m, equating to $0.82 per share.

This is an improvement of about a third from the $166m, or $0.62 per share, the firm made during the preceding quarter.

It is also about three times the net income of $75m that the firm recorded for the corresponding period last year.

In the first nine months of 2012 CNA made net income of $637m, approximately half again as much as the $420m it made during 9M 2011.

Chairman and Chief Executive Officer Thomas F. Motamed said that the firm was pleased to report its Q3 results, which showed an improvement in the level of earnings.

Motamed went on to say that the quarterly results reflected the favourable impact following the acquisition of the Hardy Group.


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