CNA Financial

Q2 FY2026 EarningsQ2 FY26 results beat consensus across key profitability metrics: EPS $1.18 vs. $1.05 expected, and Net Income $321M vs. $284.5M expected. However, total revenue (earned premium equivalent) was approximately $3.46B, below the $4.0B consensus. P&C operations saw 4% NWP growth but faced margin pressure with a combined ratio of 96.5% vs. 94.1% YoY, driven by a higher underlying loss ratio of 64.1%. Strong net investment income ($701M) and record new business growth of 11% offset the underwriting margin compression.