C.N.A. Financial
Specialized commercial insurer spanning professional liability, middle-market coverage, and international property and casualty.
Something off on this page? Send us feedback.
Profile
Sells commercial property-and-casualty insurance through Specialty, Commercial, and International operations, using brokers and agents to reach U.S. and overseas customers. Underwriting discipline shapes growth, while retained run-off exposures and Loews's controlling ownership remain structural features.
Provides commercial property-and-casualty insurance through Specialty, Commercial, and International. Specialty focuses on management and professional liability, while Commercial serves small businesses, construction, and middle-market customers; International extends coverage beyond the domestic operation, including through Lloyd's.
Distributes through brokers, independent agents, and managing general underwriters. Specialized underwriting, pricing discipline, broker relationships, talent, and technology shape execution, with selective growth favored over volume in difficult markets.
Life & Group and Corporate & Other mainly hold retained or run-off exposures. Results depend on catastrophe exposure, long-tail reserving, regulation, cyber resilience, and finite reinsurance protection on legacy asbestos and environmental liabilities. Loews owns most shares and controls shareholder decisions.
Company facts
Key statistics
Year to date +5.2% · Average volume (30d) 405.1K
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $1.04 | $1.19 | +14.4% | $2.97B | $3.83B | +28.7% | +2.13% |
| May 4, 2026Q1 FY26 | $1.49 | $0.83 | −44.3% | $2.93B | $2.60B | −11.3% | +0.70% |
| Feb 9, 2026Q4 FY25 | $1.20 | $1.16 | −3.3% | $2.88B | $3.76B | +30.4% | −0.67% |
| Nov 3, 2025Q3 FY25 | $1.25 | $1.50 | +20.0% | $2.84B | $3.75B | +32.2% | +0.68% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.57B | $3.64B | $3.75B | $3.76B | $3.68B | $3.83B | |
| Gross profit | $1.07B | $1.08B | $1.23B | $1.13B | $1.50B | $1.30B | |
| Operating income | $349.0M | $380.0M | $513.0M | $378.0M | $300.0M | $438.0M | |
| Net income | $274.0M | $299.0M | $403.0M | $302.0M | $323.0M | $321.0M | |
| Diluted EPS | $1.00 | $1.10 | $1.48 | $1.11 | $0.78 | $1.18 | |
| Gross margin | 30.0% | 29.8% | 32.9% | 30.1% | 40.8% | 34.1% | |
| Operating margin | 9.8% | 10.5% | 13.7% | 10.1% | 8.2% | 11.4% |
Fiscal years (4-quarter sums)FY21 $11.67B · FY22 $11.89B · FY23 $13.13B · FY24 $14.00B · FY25 $14.71B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.06B · Total debt $2.97B · Total assets $69.87B · Shareholders' equity $11.19B
Dividends
Raised for 14 straight years — most recently to $0.48 from $0.46 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Sep 3 | $0.48 | |
| May 18, 2026 | May 18 | Jun 4 | $0.48 | raised from $0.46 |
| Feb 23, 2026 | Feb 23 | Mar 12 | $2.48 | special dividend |
| Nov 17, 2025 | Nov 17 | Dec 4 | $0.46 | |
| Aug 18, 2025 | Aug 18 | Sep 4 | $0.46 | |
| May 19, 2025 | May 19 | Jun 5 | $0.46 | raised from $0.44 |
| Feb 24, 2025 | Feb 24 | Mar 13 | $2.46 | special dividend |
| Nov 18, 2024 | Nov 18 | Dec 5 | $0.44 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 270.60M · Float 268.97M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Loews Corp | 248.41M | 91.80% | 13F | Aug 14, 2026 |
| AQR Capital Management LLC | 2.83M | 1.04% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 1.65M | 0.61% | 13F | Aug 7, 2026 |
| First Trust Advisors LP | 1.04M | 0.39% | 13F | Aug 11, 2026 |
| Morgan Stanley | 975.8K | 0.36% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Mark Steven James | officer: EVP, Chief Risk & Rein Off | −8,273 | $53.15 |
| Aug 4, 2026 | Daniel Paul Franzetti | officer: EVP & CAO | −22,656 | $53.09 |
| Mar 19, 2026 | Jeffrey John Neuenschwander | officer: SVP & General Counsel | −3,287 | $45.97 |
| Jan 2, 2026 | Dino Robusto | director, officer: Executive Chairman | −6,250 | $47.62 |
| Dec 1, 2025 | Dino Robusto | director, officer: Executive Chairman | −6,250 | $46.92 |
Peers
- Chubb
Broad overlap in commercial, specialty, E&S, and international P&C
- Travelers
Direct overlap in middle-market, small-business, construction, and surety
- The Hartford
Strong overlap in small commercial, middle market, and specialty liability
- American International Group
Global overlap in commercial casualty, financial lines, and property risks
- W. R. Berkley
Specialty commercial rival across E&S, admitted, and international lines
- Arch Capital Group
Selective overlap in E&S casualty, professional lines, and specialty property
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| C.N.A. Financial | $49.31 | +0.02% | $13.34B | 10.8 | 10.6 | 0.9 | +3.0% |
| Chubb | $340.37 | +0.13% | $131.14B | 12.0 | 12.2 | 2.1 | −1.3% |
| Travelers | $372.15 | +0.62% | $77.15B | 9.9 | 12.4 | 1.6 | −4.8% |
| The Hartford | $137.85 | −0.49% | $37.98B | 9.0 | 10.6 | 1.3 | +4.0% |
| American International Group | $76.93 | 0.00% | $40.79B | 14.1 | 9.2 | 1.5 | +0.8% |
| W. R. Berkley | $70.65 | +3.20% | $25.48B | 14.1 | 14.5 | 1.4 | +1.2% |
| Arch Capital Group | $97.15 | −1.71% | $34.53B | 7.7 | 10.5 | 1.8 | −22.3% |
| Median | 10.9 | 11.4 | 1.6 | −0.3% |