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CNA Overcame Cyber Attack to Finish Strong in Q2

August 2, 2021

CNA Financial Corp. (CNA) announced second quarter 2021 net income of $368 million versus $151 million in the prior year quarter.

The quarter saw improvement in the underlying combined ratio, very strong investment results and a lower level of catastrophe losses. The company also had to overcome the impact of a ransomware attack in March that limited business transactions for a period.

CNA’s Property & Casualty segments produced core income of $351 million for the second quarter of 2021, an increase of $226 million compared to the prior year quarter primarily due to lower net catastrophe losses and improved non-catastrophe current accident year underwriting results.

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