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CNA FINANCIAL ANNOUNCES THIRD QUARTER 2024 CATASTROPHE AND FOURTH QUARTER 2024 HURRICANE MILTON ESTIMATES

CNA | 3 hours ago

CHICAGO, Oct. 21, 2024 /PRNewswire/ -- CNA Financial Corporation (NYSE: CNA) today announced that it expects to report pretax net catastrophe losses in the third quarter 2024 of $143 million. Approximately 75% of the catastrophe losses are associated with four larger events, including $55 million from Hurricane Helene. The remaining approximately $35 million of losses is spread across a number of additional events occurring during the quarter. Catastrophe losses are comprised of $127 million in the Commercial segment and $16 million in the International segment. The combined ratio impact of this third quarter catastrophe result is in line with CNA's third quarter average over the last five years.

Additionally, pretax net catastrophe losses related to Hurricane Milton, currently estimated between approximately $25 million to $55 million, are anticipated to be reflected in the fourth quarter 2024 results.

Dino E. Robusto, Chairman & Chief Executive Officer of CNA Financial Corporation commented, "We are all saddened by the devastation and destruction from Hurricanes Helene and Milton as well as other catastrophic events during the third quarter. Our thoughts are with those that lost loved ones, homes, and businesses and everyone suffering and working to recover."

CNA will report its third quarter 2024 results before the market opens on Monday, November 4, 2024.

About the Company

CNA is one of the largest U.S. commercial property and casualty insurance companies. Backed by more than 125 years of experience, CNA provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada and Europe. For more information, please visit CNA at www.cna.com.

Contacts

Media:		Analysts:
Kelly Messina \| Vice President, Marketing		Ralitza K. Todorova \| Vice President, Investor Relations & Rating Agencies
872-817-0350		312-822-3834

For additional information, please refer to CNA's most recent 10-K on file with the Securities and Exchange Commission, as well as the financial supplement, available at www.cna.com.

Forward-Looking Statements

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Any forward-looking statements made in this press release are made by CNA as of the date of this press release. Further, CNA does not have any obligation to update or revise any forward-looking statement contained in this press release, even if CNA's expectations or any related events, conditions or circumstances change.

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