cna financial corp (CNA) Key Developments
California Manufacturers & Technology Association Selects CNA as Endorsed Business Insurance Carrier of Choice
May 19 15
CNA and the California Manufacturers & Technology Association announced that CNA has been chosen as the endorsed business insurance carrier of choice by the CMTA. The CMTA represents over 400 manufacturing, processing and technology-based companies, and works to improve a strong business climate for an economic sector that generates more than $230 billion annually and employs more than 1.2 million Californians. CNA was selected by the CMTA, working with broker Warren G. Bender Co., because of its depth of experience in the
industry, financial strength and expertise in coordinating end-to-end coverage programs for today's modern manufacturers.
CNA Financial Corporation Introduces New Admitted Product Liability Policy for Life Sciences Market
May 11 15
CNA Financial Corporation introduced a new admitted product liability policy offering for the life sciences market. The Life Sciences Products-Work Hazard policy form provides broad, flexible, claims-made product liability coverage on a worldwide basis. Coverage can be expanded to include professional and technology liability on a combined, endorsed form. Limits of liability of up to $10 million in the aggregate are available. With minimum premiums now as low as $2,500, CNA's coverage is more accessible to smaller risks. The new policy is currently available in approximately 30 states with filings pending in additional states.
CNA Financial Corporation Declares First Quarter 2015 Dividend, Payable June 3, 2015
May 4 15
CNA Financial Corporation declared first quarter 2015 dividend of $0.25 per share, payable June 3, 2015 to stockholders of record on May 18, 2015.
CNA Financial Corporation Reports Earnings Results for the First Quarter Ended March 31, 2015
May 4 15
CNA Financial Corporation reported earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net income of $233.0 million or $0.86 per share compared to $13.0 million or $0.05 per share for the same quarter ended March 31, 2014. Net operating income was $225.0 million against $190.0 million a year ago. Net operating income per diluted share was $0.83 against $0.70 a year ago. Book value per share was $46.02 against $47.39 a year ago. Book value per share excluding AOCI was $44.47 against $45.91 a year ago. Operating cash flow, excluding trading activity, was $81 million. The operating return on equity was 7.4%.
CNA Appoints John Cox as Vice President of the Arkansas and Oklahoma Branches
Apr 20 15
CNA announced the appointment of John Cox as vice president of the Arkansas and Oklahoma Branches, effective April 20, 2015. In this role, John will be responsible for leading both branch teams to serve the diverse needs of CNA's customers. John will report to Greg Vezzosi, senior vice president and Central Zone officer. John brings nearly 30 years of experience in the insurance industry to his new role, including serving in CNA's
Worldwide Claim organization from 1990 to 1995. Most recently, John served as the vice president of National Accounts for the American International Group (AIG), where his responsibilities included leading marketing strategies in Michigan, Ohio, Kentucky and West Virginia for the national account market segment. John also has experience leading underwriting functions in the Environmental and Professional Liability space.