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CNA Financial Q2 profit rises as investment income offsets underwriting pressure
CNA said net investment income increased to $701 million in Q2, while its property and casualty combined ratio widened to 96.5% from 94.1% a year earlier.
Chicago-based CNA Financial reported Q2 2026 net income of $321 million, up from $299 million in the prior-year quarter, with stronger investment returns helping offset pressure in underwriting as the company continued disciplined growth and reserve prudence, according to Reinsurance News.
CNA’s net investment income rose to $701 million, supported by gains from limited partnerships and common stock, higher income from fixed-income securities, and other investments. The insurer’s property and casualty (P&C) core income fell to $426 million from $448 million, and its P&C combined ratio deteriorated to 96.5% from 94.1%.
Catastrophe losses contributed 2.3 points to the combined ratio in Q2 2026, compared with 2.4 points a year earlier, with pretax catastrophe losses of $60 million versus $62 million. P&C net written premiums grew 4% year on year to $2.97 billion, supported by an 11% rise in new business to a record $718 million and retention of 83%.
In its life and group business, CNA posted a core loss of $10 million in Q2 2026, versus a core income of $1 million a year earlier, while corporate and other recorded a $92 million core loss, improving from a $114 million loss. CNA CEO Douglas Worman said the company expects to maintain a prudent reserve posture and said CNA’s second-quarter property reinsurance renewals were oversubscribed on favorable terms and were economically accretive.