CNA Financial (NYSE: CNA) reported Q3 EPS of $0.71, $0.11 better than the analyst estimate of $0.60.

• Third quarter net income was $213 million versus net income of $107 million in the prior year quarter, and core income was $193 million versus core income of $102 million in the prior year quarter.
• Third quarter net and core income includes an LTC GPV charge of $59 million after-tax primarily driven by actions taken on discount rate assumptions.
• Third quarter net catastrophe losses were $160 million pretax driven by severe weather related events, primarily Hurricanes Laura, Isaias and Sally, and the Midwest derecho. No change to COVID-19 catastrophe loss estimate.
• The third quarter P&C combined ratio was 100.9% compared with 97.6% in the prior year quarter, including 8.7 points of catastrophe loss impact compared with 1.8 points in the prior year quarter.
• The underlying combined ratio was 92.6% compared with 94.6% in the prior year quarter. The underlying loss ratio was 60.5% compared with 61.7% in the prior year quarter and the expense ratio was 31.8% compared with 32.5% in the prior year quarter.
• P&C segments, excluding third party captives, generated gross written premium growth of 9% and net written premium growth of 7%.
• P&C rate change increased to +12% in the third quarter.
• Net investment income of $517 million pretax includes $71 million of income from LPs and common stock.
• Board of Directors declares regular quarterly cash dividend of $0.37 per share.

"CNA continued to execute effectively during these unprecedented times as evidenced by the ongoing acceleration in our P&C rate achievement, higher overall premium growth and a significantly improved underlying loss ratio and expense ratio in the third quarter. And, with our annual reserve review of our runoff Long Term Care business, we took significant actions on our discount rate assumptions intended to further protect our capital and earnings in the face of what can very well be a protracted low interest rate environment," said Dino E. Robusto, Chairman & Chief Executive Officer of CNA Financial Corporation.

For earnings history and earnings-related data on CNA Financial (CNA) click here.