CNA's Net Income Drops 72% in First Quarter

CNA Financial Corp. on Monday announced first-quarter net income of $66 million, a 72% drop from $233 million in the first quarter of 2015. CNA’s net written premiums for property and casualty held steady in the first quarter at $1.67 billion, the same amount as in the prior-year quarter. Property and casualty saw a net income of $191 million in the first quarter, down 29% from $269 million in the prior-year quarter. The property and casualty combined ratio was 96.1%, down from 98.9% in the first quarter of 2015. The company said the decrease in property and casualty’s net opera...