Cna Financial Corp (NYSE: CNA)

CNA Financial Corporation is an insurance holding company that primarily underwrites commercial property and casualty coverages, including surety, and provides warranty, risk management information services, and claims administration. The company maintains underwriting operations in the United States, Canada, the United Kingdom, and Continental Europe, and accesses business at Lloyd's of London through Syndicate 382. In the United States, its field underwriting locations and centralized processing operations handle policy processing, billing, collection, and call center functions, while its claim operations include primary locations for multiple claim types and regional offices aligned with underwriting. As of December 31, 2025, CNA Financial Corporation employed approximately 6,600 people. Loews Corporation owned approximately 92% of its outstanding common stock as of that date.

The company generates revenue primarily through insurance premiums from its property and casualty and life and group policies. Additional revenue comes from fees for warranty, risk management information services, and claims administration. These products and services are distributed via independent agents, retail and wholesale brokers, and managing general underwriters.

The company operates through the following segments: Specialty, Commercial, International, Life & Group, and Corporate & Other.

• Specialty segment: Its activities, including products offered, customers served, and distribution channels used, are discussed in the Management's Discussion and Analysis.

• Commercial segment: Its activities, including products offered, customers served, and distribution channels used, are discussed in the Management's Discussion and Analysis.

• International segment: Its activities, including products offered, customers served, and distribution channels used, are discussed in the Management's Discussion and Analysis.

• Life & Group segment: Its activities, including products offered, customers served, and distribution channels used, are discussed in the Management's Discussion and Analysis.

• Corporate & Other segment: Its activities, including products offered, customers served, and distribution channels used, are discussed in the Management's Discussion and Analysis.

The property and casualty insurance industry is highly competitive, and CNA Financial Corporation competes with numerous stock and mutual insurance companies as well as other entities for distributors and customers. The company operates in multiple geographic regions and offers a range of insurance products and services. It is subject to regulation by numerous agencies, including the State of Illinois Department of Insurance, the U. K. Prudential Regulatory Authority, the Office of the Superintendent of Financial Institutions in Canada, the Luxembourg Commissariat aux Assurances, and the Bermuda Monetary Authority.

CNA Financial Corporation markets its products and services through independent agents, retail and wholesale brokers, and managing general underwriters to a diverse customer base that includes small, medium, and large businesses, insurance companies, associations, professionals, and other groups.