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flag CNA Financial posted strong 2025 results, driven by investment gains and improved underwriting, despite rising claims and pricing pressures.

flag CNA Financial reported fourth-quarter 2025 net income of $302 million, up from $21 million a year earlier, largely due to a $290 million pension settlement benefit. flag Excluding one-time items, core income dipped to $317 million. flag Full-year 2025 net income reached a record $1.28 billion, driven by strong investment returns and improved underwriting, though underwriting margins weakened slightly due to claims severity and pricing pressures. flag The combined ratio rose to 93.8% in the quarter, with commercial lines performing well while specialty operations saw a significant decline. flag Net written premiums grew 2% in the quarter and 4.9% annually. flag CNA raised its dividend and paid a special dividend, citing strong capital position amid industry-wide challenges.

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