CNA Financial reports Q4 core EPS $1.01, consensus 97c

Reports Q4 book value per share $32.58. "We had another excellent quarter with solid top-line growth and strong underwriting profitability which capped off an excellent year of underwriting performance. Gross written premium growth ex captives was 8% for the quarter and 10% for the year, marking two straight years of double-digit growth. Overall P&C renewal premium change was 7% in the quarter and 9% in Commercial which is up 2 points from the third quarter. The combined ratio was 93.7% for the quarter and a record low 93.2% for the year. We produced core income of $274 million for the quarter and $1,048 million for the year. Core income was greater than $1 billion for the second straight year and represents our highest two-year total on record. Given our strong results in 2022, we are optimistic about our opportunities to capitalize on the continued favorable market conditions, and achieve a meaningful benefit from the tailwind of higher yields on our fixed maturity portfolio," said Dino Robusto, chairman and CEO of CNA Financial.