Internet revenue up in each intervals
CNA Monetary Company has revealed its earnings report for 2023.
Right here’s how the insurer fared within the fourth quarter and full 12 months of the previous yr:
|
Metric
|
This autumn 2023
|
This autumn 2022
|
FY 2023
|
FY 2022
|
|
Property & casualty core revenue
|
$434 million
|
$342 million
|
$1.5 billion
|
$1.2 billion
|
|
Life & group core revenue / (loss)
|
$4 million
|
$(25 million)
|
$(48 million)
|
$(221 million)
|
|
Core revenue
|
$362 million
|
$265 million
|
$1.3 billion
|
$836 million
|
|
Internet revenue
|
$367 million
|
$239 million
|
$1.2 billion
|
$682 million
|
“We ended the yr robust, with core revenue up 37% to a document excessive of $362 million within the fourth quarter capping off a document stage for the yr of $1,284 million, a 54% enhance pushed by a 25% enhance in pretax internet funding revenue and document ranges of underlying and all-in underwriting revenue,” Dino E. Robusto, CNA chair and chief government, mentioned in a launch.
The CEO additionally famous: “Within the quarter, renewal premium change was 5% within the mixture throughout all working segments and geographies. In industrial, renewal premium change was 9% within the quarter, according to the prior quarter, and excluding staff’ compensation, renewal premium change was 11% persevering with to exceed our loss value tendencies which remained steady within the quarter.
“We stay optimistic about our alternatives for this yr given our broad-based profitability throughout our three working segments and observe document of double-digit development ranges within the final a number of years.”
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