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CNA profit falls on cat losses, lower investments, liability fee



CNA Financial Corp. reported on Monday a net profit of USD 266 million for the fourth quarter of 2021, a decrease of 31.3% compared to the previous year, as the insurance company's investment decreased and it reported a fee of USD 48 million related to asbestos and pollution liabilities.

CNA , which saw net investment gains decrease to $ 1 million from $ 52 million in the fourth quarter of 2020, reported disaster losses of $ 40 million, compared to $ 14 million in the previous year's quarter.

Favorable results without disasters. however, offset the cat losses, leading to an improved total cost of 92.9% for the quarter, compared to 93.4% a year earlier.

In its core property / accident business, the CNA reported net written premiums of $ 2.1

6 billion, an increase of 11% from the previous year's period.

For the full year, the CNA reported a net profit of $ 1.2 billion, an increase of 74.2% from 2020, as disaster losses decreased and investment gains increased. The insurer reported a total expense ratio of 96.2% for 2021, compared to 100.1% for 2020, and a net property / accident premium of $ 7.92 billion, an increase of 4.7%


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