Q1 losses blamed on investment but rates a volumes fall too
CNA has announced Q1 loss of $195m because of investment losses and lower business volumes at falling prices.
Financial highlights (2008Q1 in brackets)
- Net operating income $149m ($221m)
- Net realized investment losses $344m ($33m)
- Net income/loss from continuing operations -$195m ($188m)
- Net income/loss -$195m ($187m)
- Combined ratio for P&C 98.2% (98.1%)
- Standard lines GWP $829 ($832m)
- Specialty lines GWP $1,276m ($1,293m)
- Total P&C GWP $2,105m ($2,125m)
- Standard lines averaged rate decreases of 2% (6%)
- Specialty lines averaged rate decreases of 2% (3%).
Thomas Motamed, recently appointed chairman and chief executive said: “After four months at CNA, I am more confident than ever in our company’s position and franchise in both the specialty lines and standard lines markets.
“Our first quarter results continue to reflect the turmoil in the capital markets and its impact on our investment income and realised investment results.”
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
