CNA FINANCIAL CORP (CNA) financial statements: income statement, balance sheet and cash flow

CNA FINANCIAL CORP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), CNA FINANCIAL CORP reported revenue of $15.0B (+5.0% year on year) and net income of $1.3B (+33.3% year on year).

Income statement

CNA FINANCIAL CORP income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net earned premiums	$10.9B	$10.2B	$9.5B	$8.7B
Net investment income	$2.6B	$2.5B	$2.3B	$1.8B
Net investment losses	($81.0M)	($81.0M)	($99.0M)	($199.0M)
Non-insurance warranty revenue	$1.6B	$1.6B	$1.6B	$1.6B
Other revenues	$36.0M	$34.0M	$30.0M	$32.0M
Total revenues	$15.0B	$14.3B	$13.3B	$11.9B
Insurance claims and policyholders’ benefits (re-measurement loss of $104, $125 and $88)	$8.3B	$7.7B	$7.1B	$6.4B
Amortization of deferred acquisition costs	$1.9B	$1.8B	$1.6B	$1.5B
Non-insurance warranty expense	$1.5B	$1.5B	$1.5B	$1.5B
Other operating expenses	$1.5B	$1.8B	$1.4B	$1.3B
Interest	$135.0M	$133.0M	$127.0M	$112.0M
Total claims, benefits and expenses	$13.4B	$13.1B	$11.8B	$10.8B
Income before income tax	$1.6B	$1.2B	$1.5B	$1.1B
Income tax expense	($342.0M)	($252.0M)	($313.0M)	($187.0M)
Net income	$1.3B	$959.0M	$1.2B	$894.0M
Basic earnings per share (in usd per share)	$4.71	$3.53	$4.44	$3.29
Diluted earnings per share (in usd per share)	$4.69	$3.52	$4.43	$3.28
Basic (in shares)	271.2M	271.5M	271.3M	271.6M
Diluted (in shares)	272.4M	272.7M	272.2M	272.5M

CNA FINANCIAL CORP income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q4
Net earned premiums	$2.8B	$2.7B	$2.8B	$2.7B
Net investment income	$701.0M	$610.0M	$638.0M	$662.0M
Net investment losses	($5.0M)	($18.0M)	($7.0M)	($46.0M)
Non-insurance warranty revenue	$367.0M	$374.0M	$393.0M	$398.0M
Other revenues	$7.0M	$10.0M	$10.0M	$9.0M
Total revenues	$3.8B	$3.7B	$3.8B	$3.7B
Insurance claims and policyholders’ benefits (re-measurement loss of $25, $15, $44 and $23)	$2.2B	$2.2B	$2.0B	$2.1B
Amortization of deferred acquisition costs	$481.0M	$476.0M	$483.0M	$469.0M
Non-insurance warranty expense	$356.0M	$356.0M	$377.0M	$384.0M
Other operating expenses	$385.0M	$370.0M	$376.0M	$368.0M
Interest expense	$33.0M	$33.0M	$36.0M	$31.0M
Total claims, benefits and expenses	$3.4B	$3.4B	$3.3B	$3.3B
Income before income tax	$405.0M	$267.0M	$513.0M	$380.0M
Income tax expense	($84.0M)	($56.0M)	($110.0M)	($81.0M)
Net income	$321.0M	$211.0M	$403.0M	$299.0M
Basic earnings per share (in usd per share)	$1.18	$0.78	$1.49	$1.10
Diluted earnings per share (in usd per share)	$1.18	$0.78	$1.48	$1.10
Basic (in shares)	270.9M	271.1M	271.1M	271.1M
Diluted (in shares)	271.7M	272.3M	272.3M	272.2M

Balance sheet

CNA FINANCIAL CORP balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Fixed maturity securities at fair value (amortized cost of $44,668 and $43,481, less allowance for credit loss of $69 and $45)	$43.4B	$41.1B	$40.4B	$37.6B
Equity securities at fair value (cost of $728 and $632)	$769.0M	$659.0M	$683.0M	$674.0M
Limited partnership investments	$2.8B	$2.5B	$2.2B	$1.9B
Other invested assets	$105.0M	$85.0M	$80.0M	$78.0M
Mortgage loans (less allowance for credit loss of $15 and $35)	$1.1B	$1.0B	$1.0B	$1.0B
Short-term investments	$2.3B	$2.1B	$2.2B	$1.8B
Total investments	$50.4B	$47.5B	$46.6B	$43.2B
Cash	$425.0M	$472.0M	$345.0M	$475.0M
Reinsurance receivables (less allowance for uncollectible receivables of $27 and $21)	$6.4B	$6.1B	$5.4B	$5.4B
Insurance receivables (less allowance for uncollectible receivables of $25 and $26)	$3.7B	$3.7B	$3.4B	$3.2B
Accrued investment income	$480.0M	$451.0M	$444.0M	$402.0M
Deferred acquisition costs	$986.0M	$959.0M	$896.0M	$806.0M
Deferred income taxes	$575.0M	$850.0M	$1.0B	$1.2B
Property and equipment at cost (less accumulated depreciation of $346 and $314)	$282.0M	$295.0M	$253.0M	$226.0M
Goodwill	$148.0M	$145.0M	$146.0M	$144.0M
Deferred non-insurance warranty acquisition expense	$3.2B	$3.5B	$3.7B	$3.7B
Other assets	$2.8B	$2.6B	$2.5B	$2.3B
Total assets	$69.4B	$66.5B	$64.7B	$60.9B
Claim and claim adjustment expenses	$26.6B	$25.0B	$23.3B	$25.1B
Unearned premiums	$7.6B	$7.3B	$6.9B	$6.4B
Future policy benefits	$13.4B	$13.2B	$14.0B	$10.2B
Long-term debt	$3.0B	$3.0B	$2.5B	$2.5B
Deferred non-insurance warranty revenue	$4.1B	$4.5B	$4.7B	$4.7B
Other liabilities (includes $54 and $47 due to Loews Corporation)	$3.0B	$3.0B	$2.9B	$3.0B
Total liabilities	$57.8B	$56.0B	$54.8B	$52.1B
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 270,671,747 and 270,844,681 shares outstanding)	683.0M	683.0M	683.0M	683.0M
Additional paid-in capital	$2.2B	$2.2B	$2.2B	$2.2B
Retained earnings	$9.9B	$9.7B	$9.8B	$9.6B
Accumulated other comprehensive loss	($1.1B)	($2.0B)	($2.7B)	($3.6B)
Treasury stock (2,368,496 and 2,195,562 shares), at cost	-108.0M	-94.0M	-94.0M	-93.0M
Total stockholders’ equity	$11.6B	$10.5B	$9.9B	$8.8B
Total liabilities and stockholders' equity	$69.4B	$66.5B	$64.7B	$60.9B

CNA FINANCIAL CORP balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Fixed maturity securities at fair value (amortized cost of $45,458 and $44,668, less allowance for credit loss of $63 and $69)	$43.9B	$43.2B	$43.7B	$42.8B
Equity securities at fair value (cost of $760 and $728)	$793.0M	$785.0M	$726.0M	$727.0M
Limited partnership investments	$2.9B	$2.8B	$2.7B	$2.7B
Other invested assets	$119.0M	$110.0M	$97.0M	$88.0M
Mortgage loans (less allowance for credit loss of $15 and $15)	$1.0B	$1.1B	$1.1B	$1.0B
Short-term investments	$1.7B	$1.5B	$2.2B	$1.7B
Total investments	$50.5B	$49.5B	$50.5B	$49.0B
Cash	$339.0M	$522.0M	$483.0M	$373.0M
Reinsurance receivables (less allowance for uncollectible receivables of $27 and $27)	$6.5B	$6.4B	$6.4B	$6.4B
Insurance receivables (less allowance for uncollectible receivables of $25 and $25)	$4.2B	$3.7B	$3.7B	$4.1B
Accrued investment income	$487.0M	$487.0M	$480.0M	$461.0M
Deferred acquisition costs	$1.0B	$1.0B	$985.0M	$1.0B
Deferred income taxes	$576.0M	$603.0M	$585.0M	$759.0M
Property and equipment at cost (less accumulated depreciation of $339 and $346)	$291.0M	$287.0M	$283.0M	$297.0M
Goodwill	$147.0M	$147.0M	$148.0M	$148.0M
Deferred non-insurance warranty acquisition expense	$3.0B	$3.1B	$3.3B	$3.4B
Other assets	$2.9B	$2.8B	$2.8B	$2.9B
Total assets	$69.9B	$68.6B	$69.8B	$68.9B
Claim and claim adjustment expenses	$27.5B	$26.9B	$26.5B	$26.2B
Unearned premiums	$8.0B	$7.6B	$7.6B	$7.9B
Future policy benefits	$13.3B	$13.2B	$13.5B	$13.3B
Long-term debt	$3.0B	$3.0B	$3.0B	$2.5B
Deferred non-insurance warranty revenue	$3.8B	$4.0B	$4.3B	$4.4B
Other liabilities (includes $54 and $54 due to Loews Corporation)	$3.1B	$3.0B	$3.0B	$3.5B
Total liabilities	$58.7B	$57.7B	$58.4B	$58.3B
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 270,598,685 and 270,671,747 shares outstanding)	683.0M	683.0M	683.0M	683.0M
Additional paid-in capital	$2.2B	$2.2B	$2.2B	$2.2B
Retained earnings	$9.6B	$9.4B	$9.7B	$9.5B
Accumulated other comprehensive loss	($1.2B)	($1.3B)	($1.2B)	($1.6B)
Treasury stock (2,441,558 and 2,368,496 shares), at cost	-117.0M	-120.0M	-109.0M	-109.0M
Total stockholders’ equity	$11.2B	$10.9B	$11.3B	$10.7B
Total liabilities and stockholders' equity	$69.9B	$68.6B	$69.8B	$68.9B

Cash flow statement

CNA FINANCIAL CORP cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.3B	$959.0M	$1.2B	$894.0M
Deferred income tax expense (benefit)	$75.0M	($45.0M)	$2.0M	($34.0M)
Trading portfolio activity	$0	$0	$1.0M	$6.0M
Net investment losses	$81.0M	$81.0M	$99.0M	$199.0M
Equity method investees	($34.0M)	($101.0M)	($8.0M)	$250.0M
Net amortization of investments	($208.0M)	($200.0M)	($191.0M)	($129.0M)
Depreciation and amortization	$70.0M	$67.0M	$73.0M	$51.0M
Receivables, net	($323.0M)	($898.0M)	($245.0M)	($226.0M)
Accrued investment income	($26.0M)	($8.0M)	($41.0M)	($29.0M)
Deferred acquisition costs	($17.0M)	($69.0M)	($85.0M)	($79.0M)
Insurance reserves	$1.7B	$2.4B	$1.7B	$1.8B
Other, net	($76.0M)	$420.0M	($192.0M)	($192.0M)
Net cash flows provided by operating activities	$2.5B	$2.6B	$2.3B	$2.5B
Fixed maturity securities - sales	$2.9B	$2.8B	$4.0B	$5.9B
Fixed maturity securities - maturities, calls and redemptions	$3.4B	$2.4B	$1.3B	$2.4B
Equity securities	$505.0M	$523.0M	$317.0M	$509.0M
Limited partnerships	$103.0M	$97.0M	$164.0M	$138.0M
Mortgage loans	$122.0M	$105.0M	$122.0M	$125.0M
Fixed maturity securities	($7.1B)	($6.4B)	($6.6B)	($9.8B)
Equity securities	($573.0M)	($444.0M)	($293.0M)	($294.0M)
Limited partnerships	($360.0M)	($335.0M)	($402.0M)	($337.0M)
Mortgage loans	($186.0M)	($89.0M)	($127.0M)	($200.0M)
Change in other investments	($12.0M)	($11.0M)	($2.0M)	$8.0M
Change in short-term investments	($151.0M)	$147.0M	($274.0M)	$155.0M
Purchases of property and equipment	($86.0M)	($95.0M)	($90.0M)	($52.0M)
Disposals of property and equipment	$12.0M	—	—	—
Other, net	($8.0M)	$0	($5.0M)	($10.0M)
Net cash flows used by investing activities	($1.4B)	($1.3B)	($1.8B)	($1.5B)
Dividends paid to common stockholders	($1.0B)	($1.0B)	($787.0M)	($982.0M)
Proceeds from the issuance of debt	$495.0M	$490.0M	$491.0M	$0
Repayment of debt	($500.0M)	($550.0M)	($243.0M)	$0
Purchase of treasury stock	($34.0M)	($20.0M)	($24.0M)	($39.0M)
Other, net	($18.0M)	($12.0M)	($14.0M)	($11.0M)
Net cash flows used by financing activities	($1.1B)	($1.1B)	($577.0M)	($1.0B)
Effect of foreign exchange rate changes on cash	$16.0M	($10.0M)	$5.0M	($19.0M)
Net change in cash	($47.0M)	$127.0M	($130.0M)	($61.0M)
Cash, beginning of year	$472.0M	$345.0M	$475.0M	$536.0M
Cash, end of year	$425.0M	$472.0M	$345.0M	—

CNA FINANCIAL CORP cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$532.0M	$211.0M	$976.0M	$573.0M
Deferred income tax expense	$17.0M	$32.0M	$91.0M	$28.0M
Trading portfolio activity	($2.0M)	$0	($14.0M)	($11.0M)
Net investment losses	$23.0M	$18.0M	$62.0M	$55.0M
Equity method investees	($29.0M)	$30.0M	($37.0M)	($18.0M)
Net amortization of investments	($109.0M)	($57.0M)	($149.0M)	($96.0M)
Depreciation and amortization	$40.0M	$20.0M	$53.0M	$35.0M
Receivables, net	($601.0M)	($3.0M)	($318.0M)	($669.0M)
Accrued investment income	($8.0M)	($8.0M)	($26.0M)	($7.0M)
Deferred acquisition costs	($43.0M)	($24.0M)	($16.0M)	($49.0M)
Insurance reserves	$1.4B	$446.0M	$1.5B	$1.4B
Other, net	($220.0M)	($272.0M)	($224.0M)	($55.0M)
Net cash flows provided by operating activities	$1.0B	$393.0M	$1.9B	$1.2B
Fixed maturity securities - sales	$1.6B	$364.0M	$2.4B	$1.5B
Fixed maturity securities - maturities, calls and redemptions	$1.6B	$813.0M	$2.6B	$1.6B
Equity securities	$312.0M	$136.0M	$396.0M	$261.0M
Limited partnerships	$101.0M	$33.0M	$89.0M	$51.0M
Mortgage loans	$53.0M	$35.0M	$69.0M	$37.0M
Fixed maturity securities	($4.0B)	($1.5B)	($6.1B)	($3.8B)
Equity securities	($322.0M)	($174.0M)	($429.0M)	($296.0M)
Limited partnerships	($174.0M)	($83.0M)	($252.0M)	($192.0M)
Mortgage loans	($11.0M)	($11.0M)	($110.0M)	($62.0M)
Change in other investments	($13.0M)	($4.0M)	($5.0M)	$4.0M
Change in short-term investments	$621.0M	$848.0M	($94.0M)	$422.0M
Purchases of property and equipment	($33.0M)	($13.0M)	($58.0M)	($42.0M)
Other, net	$2.0M	$2.0M	$1.0M	($8.0M)
Net cash flows used by investing activities	($255.0M)	$444.0M	($1.4B)	($471.0M)
Dividends paid to common stockholders	($812.0M)	($682.0M)	($922.0M)	($798.0M)
Purchase of treasury stock	($36.0M)	($36.0M)	($34.0M)	($34.0M)
Other, net	($19.0M)	($18.0M)	($17.0M)	($15.0M)
Net cash flows used by financing activities	($867.0M)	($736.0M)	($478.0M)	($847.0M)
Effect of foreign exchange rate changes on cash	($6.0M)	($4.0M)	$15.0M	$19.0M
Net change in cash	($86.0M)	$97.0M	$11.0M	($99.0M)
Cash, beginning of year	$425.0M	$425.0M	$472.0M	$472.0M
Cash, end of period	$339.0M	$522.0M	$483.0M	$373.0M

CNA FINANCIAL CORP score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.