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CNA core income falls in fourth quarter - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers CNA core income falls in fourth quarter by Todd J. Behme Douglas M. Worman Financial Results , P/C Insurers CNA Feb 9, 2026 CNA reported a huge jump in fourth-quarter profit, but core income was lower after excluding a loss from a pension settlement transaction the previous year. Fourth-quarter net income was $302 million, compared with $21 million in fourth-quarter 2024, which included a $290 million after-tax pension settlement loss, the insurer said Monday. Core income for the quarter, which excludes the pension settlement and other items, was $317 million, down 7.3% from the year-earlier period. For full-year 2025, CNA reported a record $1.28 billion in net income. 2024 net income was $959 million, affected by an after-tax loss of $293 million from pension settlement transactions. Core property/casualty income was $449 million in the fourth quarter, down $2 million from fourth-quarter 2024. The figure “reflects lower underlying underwriting results largely offset by higher net investment income,” CNA said. Property/casualty net written premiums were $2.79 billion in the fourth quarter, up 1.4% from a year ago. For the full year, property/casualty net written premiums were $10.68 billion, up 4.9% from 2024. The combined ratio was 93.8% in the fourth quarter, compared with 93.1% in fourth-quarter 2024. In prepared remarks, CEO Douglas M. Worman attributed the increase mainly to a higher underlying loss ratio. “As we have stated previously, in light of pricing pressures in pockets of the portfolio, we will remain prudent in our loss ratio picks, even as we continue underwriting actions in order to optimize our position in the current marketplace,” Mr. Worman said in the remarks. The full-year combined ratio was 94.7%, a slight improvement from 94.9% in 2024. Commercial net written premiums were $1.51 billion in the fourth quarter, up 4.1% from 2024. For all of 2025, commercial net written premiums were $5.82 billion, up 6.4% from 2024. 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