NYSE$CNA
CNA Financial Corporation · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
CNA announced second quarter 2022 net income and core income, with P&C segments showing strong underwriting results and premium growth.
CNA Financial Corporation reported a net income of $205 million, or $0.75 per share, and a core income of $245 million, or $0.90 per share, for the second quarter of 2022. The P&C segments experienced growth in gross written premiums and improved underwriting results, while the Life & Group segment and Corporate & Other segment reported lower core income.
- Net income was $205 million, or $0.75 per share, compared to $368 million, or $1.35 per share, in the prior year quarter.
- Core income was $245 million, or $0.90 per share, versus $341 million, or $1.25 per share, in the prior year quarter.
- P&C combined ratio was 91.0%, the lowest in over five years, compared to 94.0% in the prior year quarter.
- P&C segments, excluding third party captives, generated gross written premium growth of 17% and net written premium growth of 20%.
Headline financials
Revenue & EPS history
CNA · Revenue · Quarterly
$2.93B
Forward guidance
CNA Financial remains optimistic about market conditions and growth opportunities for the remainder of the year.
Tailwinds
- P&C underwriting gain was up 64%, reflecting higher underlying underwriting income, lower cats, and favorable prior period development.
- The underlying combined ratio of 90.8% is our lowest on record.
- P&C gross written premium growth ex captives of 17% in the quarter.
- Strongest retention in nearly five years and very strong new business growth.
- Earned rate of 8% remains above loss cost trends.
Headwinds
- Core income of $245 million was down 28% this quarter due to a $171 million decline from LPs and common stock.
- Corporate & Other includes a $51 million after-tax charge related to unfavorable prior period development largely associated with legacy mass tort abuse claims.
- Life & Group core income decreased $37 million primarily due to lower net investment income.
- Net investment income decreased $159 million as compared with the prior year quarter.
- Stockholders’ equity of $9.5 billion decreased 26% from year-end 2021, primarily due to net unrealized investment losses
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+0.6%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+0.2%
Avg return
30 days after
54%
33 / 61 earnings
Positive
+8.9%
Q3 2020
Best reaction
-7.9%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -7.9% | -9.4% | -12.8% | |
| Q4 2025 | -1.4% | -2.3% | -5.9% | |
| Q3 2025 | -1.3% | +1.5% | +3.3% | |
| Q1 2025 | -0.5% | +0.1% | -2.7% | |
| Q4 2024 | +1.2% | -0.7% | -2.9% | |
| Q3 2024 | -0.1% | +3.8% | +4.8% | |
| Q2 2024 | +2.5% | +0.8% | +6.8% | |
| Q1 2024 | -0.5% | +1.2% | +1.7% | |
| Q4 2023 | +6.4% | +6.0% | +2.2% | |
| Q3 2023 | +2.2% | +1.3% | +4.7% | |
| Q2 2023 | -1.1% | +4.8% | -0.9% | |
| Q1 2023 | +1.0% | +2.6% | -5.3% | |
| Q4 2022 | +5.9% | +6.0% | -0.0% | |
| Q3 2022 | +0.6% | +0.3% | +1.0% | |
| Q2 2022 | -5.8% | -5.7% | -9.3% | |
| Q1 2022 | -4.5% | -4.0% | -3.9% | |
| Q4 2021 | +1.9% | +1.1% | -4.5% | |
| Q3 2021 | +3.3% | +2.2% | -6.8% | |
| Q2 2021 | -0.0% | +0.6% | +1.3% | |
| Q1 2021 | +1.5% | +3.0% | +1.6% | |
| Q4 2020 | +5.8% | +6.0% | +12.7% | |
| Q3 2020 | +8.9% | +9.3% | +19.6% | |
| Q2 2020 | -3.0% | +2.6% | -3.0% | |
| Q1 2020 | -0.1% | +1.3% | +8.8% | |
| Q4 2019 | +8.3% | +7.5% | -17.2% | |
| Q3 2019 | -1.5% | -1.1% | -2.4% | |
| Q2 2019 | +0.5% | +2.4% | +0.8% | |
| Q1 2019 | +2.2% | +1.0% | -0.6% | |
| Q4 2018 | -7.1% | -4.3% | -7.1% | |
| Q3 2018 | +7.8% | +10.3% | +4.4% | |
| Q2 2018 | -3.8% | -4.7% | -7.2% | |
| Q1 2018 | +2.5% | -0.9% | -3.2% | |
| Q4 2017 | +5.9% | +8.9% | +6.3% | |
| Q3 2017 | +6.6% | +8.2% | +7.3% | |
| Q2 2017 | +6.8% | +7.6% | -0.3% | |
| Q1 2017 | +0.2% | +0.8% | +0.8% | |
| Q4 2016 | +0.2% | +0.3% | +2.8% | |
| Q3 2016 | +4.3% | +3.2% | +9.9% | |
| Q2 2016 | -1.0% | +3.0% | +4.6% | |
| Q1 2016 | +3.1% | — | — | |
| Q4 2015 | -7.3% | — | — | |
| Q3 2015 | +0.5% | — | — | |
| Q2 2015 | -1.6% | — | — | |
| Q1 2015 | -1.8% | — | — | |
| Q4 2014 | +4.5% | — | — | |
| Q3 2014 | -0.6% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | -6.6% | — | — | |
| Q4 2013 | +7.2% | — | — | |
| Q3 2013 | +2.3% | — | — | |
| Q2 2013 | +2.3% | — | — | |
| Q1 2013 | +1.0% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2012 | +2.3% | — | — | |
| Q2 2012 | -3.3% | — | — | |
| Q4 2011 | -1.2% | — | — | |
| Q3 2011 | -0.9% | — | — | |
| Q2 2011 | -2.9% | — | — | |
| Q1 2010 | -1.5% | — | — | |
| Q4 2010 | +1.2% | — | — | |
| Q3 2010 | -2.2% | — | — |
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