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CNA Financial CNA Workers' Compensation — Year 1

Other product segments

Surety
15.2%-12.1%

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ORIWorkers' Compensation — Year 1
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UFCSCommercial workers' compensation — Year 1
34.4%+1.5pp
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UFCSPersonal — Year 1
51.3%-3.8pp
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HGTYAuto — Year 1
62%+0.7pp
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23.2%-0.4pp

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:ShortdurationInsuranceContractsHistoricalClaimsDurationYearOne.

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 workers' compensation — year 1?
CNA Financial (CNA) reported workers' compensation — year 1 of 17.6% in Q4 2025.
How has CNA Financial's workers' compensation — year 1 changed year-over-year?
CNA Financial's workers' compensation — year 1 increased by 4.8% year-over-year, from 16.8% to 17.6%.
What does workers' compensation — year 1 mean?
This metric represents the first year of development for a specific accident year cohort in the workers' compensation segment. It provides the initial look at how claims are maturing relative to the original expectations set at the time of policy issuance. It is the first data point in the loss development triangle.

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