Page 1

FOR IMMEDIATE RELEASE ● ● ● CNA CNA FINANCIAL ANNOUNCES THIRD QUARTER 2021 NET INCOME OF $ 0.94 PER SHARE AND CORE INCOME OF $ 0.87 PER SHARE Net income was $ 256 million versus $ 213 million in the prior year quarter ; core income was $ 237 million versus $ 193 million in the prior year quarter . The P & C combined ratio was 100.0 % compared with 100.9 % in the prior year quarter , including 9.2 points of catastrophe loss compared with 8.7 points in the prior year quarter . Net catastrophe losses were $ 178 million pretax versus $ 160 million in the prior year quarter . Net catastrophe losses in the current quarter include $ 114 million for Hurricane Ida . The underlying combined ratio was 91.1 % , a record low for the third consecutive quarter , compared with 92.6 % in the prior year quarter . The underlying loss ratio was 60.2 % compared with 60.5 % in the prior year quarter and the expense ratio was 30.7 % compared with 31.8 % in the prior year quarter . P & C segments , excluding third party captives , generated gross written premium growth of 10 % driven by new business growth of 24 % . Net written premium growth was 5 % in the quarter . P & C written rate of + 8 % and earned rate of + 11 % for the quarter . Net investment income of $ 513 million pretax compared with $ 517 million in the prior year quarter . In Long Term Care , there was no unlocking event as a result of the Gross Premium Valuation and core income includes a favorable impact of $ 31 million resulting from the annual claim reserve review . Book value per share of $ 46.67 ; book value per share excluding AOCI of $ 45.39 , an 8 % increase from year - end 2020 adjusting for $ 1.89 of dividends per share . Board of Directors declares regular quarterly cash dividend of $ 0.38 per share . 1