The following is a summary of the CNA Financial Corporation (CNA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• CNA Financial Corporation reported the highest first quarter core income to date at $355 million, a 9% year-on-year increase.

• The company's net investment income increased by $84 million year-over-year, standing at $609 million pretax.

• The P&C underlying underwriting gain was over $200 million for the fourth successive quarter.

• The all-in combined ratio was 94.6%, with pretax catastrophe losses of $88 million or 3.8 points.

• There was an 8% growth in gross written premium ex-captives and 6% growth in net written premium.

• Stockholders' equity excluding AOCI increased by 2% from year-end 2023 to $12.2 billion, even after considering dividend payouts.

Business Progress:

• Within the Commercial business unit, new business was up 5% in the quarter to $529 million, coupled with an 8% renewal premium change.

• The company applies cautious approaches to its management liability lines in both the U.S. Specialty actions and International operations due to aggressive competition.

• The property and casualty retention remained high at 85%.

• In the Specialty segment, rates in aggregate increased by 2%, with healthcare rates improving to high single digits.

• Despite a slight decrease in International gross and net written premiums, the company maintains an optimistic future outlook for this segment's profit contribution.

More details: CNA Financial IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.