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CNA Financial CNA Commercial Auto — Year 2

Other product segments

Surety
36.2%-11.7%

Similar metrics at other companies

KG
KGCommercial Auto Liability — Year 2
17.6%
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HGTYAuto — Year 2
24.3%-0.8pp
United Fire Group logo
UFCSCommercial automobile — Year 2
21.3%+0.3pp
Old Republic International logo
ORICommercial Automobile — Year 2
23.6%+0.2pp
United Fire Group logo
UFCSCommercial other liability — Year 2
14.1%-0.6pp
United Fire Group logo
UFCSCommercial workers' compensation — Year 2
31.7%+0.3pp

Other financials

Income statement

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Revenue$3.7B+1.4%
Net income$211.0M-23.0%
EPS (diluted)$0.78-22.0%

Balance sheet

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Cash & equivalents$522.0M+8.1%
Total debt$3.0B-0.1%
Total equity$10.9B+5.6%
Total assets$68.6B+1.8%

Cash flow

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Operating cash flow$393.0M-38.4%
CapEx$13.0M-27.8%
Free cash flow$380.0M-38.7%

Valuation

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Market cap$14.16B+9.9%
Enterprise value$16.61B+7.3%
P/E11.7×-3.0×
P/S0.9×+0.1×

Profitability

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Net margin8.1%+1.9pp
FCF margin14.4%-3.7pp

Returns & leverage

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Return on equity11.5%+2.5pp
Debt / equity0.3×0.0×

Where this comes from

Reported directly by CNA Financial in its filing.

Tagged under the XBRL concept us-gaap:ShortdurationInsuranceContractsHistoricalClaimsDurationYearTwo.

The source filing: CNA Financial’s 10-K, filed February 10, 2026.

Filed
Feb 10, 2026, 8:11 AM EST
Fiscal year
FY2025
Accession
0000021175-26-000011
Medical Professional Liability3.6%16.6%21.4%16.7%13.2%9.7%6.1%2.9%1.8%0.4%
Other Professional Liability and Management Liability6.4%19.5%19.8%15.0%11.5%7.3%5.8%4.7%3.5%0.7%
Surety (1)15.2%36.2%12.9%8.4%6.3%9.2%(0.9)%2.6%
Commercial
Commercial Auto22.6%22.5%19.1%15.2%10.7%5.5%2.6%0.9%0.7%
General Liability3.4%12.1%15.5%16.6%14.5%9.8%8.4%5.4%5.4%4.0%
Workers' Compensation17.6%24.2%14.5%8.8%5.8%3.8%2.3%1.2%0.8%
International15.0%22.6%11.3%6.8%5.8%6.5%5.6%2.6%2.8%1.3%

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is CNA Financial's commercial auto — year 2?
CNA Financial (CNA) reported commercial auto — year 2 of 22.5% in Q4 2025.
How has CNA Financial's commercial auto — year 2 changed year-over-year?
CNA Financial's commercial auto — year 2 increased by 0.9% year-over-year, from 22.3% to 22.5%.
What does commercial auto — year 2 mean?
This metric tracks the financial performance or claim development for the second year of commercial auto insurance policies. It provides a view into how claims mature after the initial policy year. This is essential for assessing the 'tail' of the claims and the accuracy of early-stage reserve estimates.

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