CNA Financial Expects To Report Pretax Net Catastrophe Losses In Q3 Of $143M
Portfolio Pulse from Benzinga Newsdesk
CNA Financial anticipates reporting $143 million in pretax net catastrophe losses for Q3, primarily due to four major events including Hurricane Helene. The losses are divided between the Commercial and International segments. Future losses from Hurricane Milton are expected in Q4 2024.
October 21, 2024 | 8:36 pm
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CNA Financial is set to report $143 million in pretax net catastrophe losses for Q3, with significant impacts from Hurricane Helene. The losses are split between the Commercial and International segments, aligning with historical averages.
The announcement of $143 million in catastrophe losses for Q3 is likely to negatively impact CNA Financial's short-term stock price. The losses are significant, though they align with historical averages, which may mitigate some investor concerns. The anticipation of further losses in Q4 2024 from Hurricane Milton adds to the negative outlook.
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