CNA Financial Corp. (CNA: Quote) posted first quarter net income of $250 million, up from $220 million last year. Earnings per share were $0.93 versus $0.82 in the same quarter last year.
Net operating income rose to $226 million or $0.84 per share from $213 million or $0.79 per share in the prior-year quarter.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.69 per share. Analysts' estimates typically exclude special items.
"We are pleased to report our first quarter results, which include improved earnings and continued progress as we work to improve the scale and profitability of our core P&C business. We are encouraged by the continuation of favorable rate trends and premium growth across both of our P&C segments," said Thomas Motamed, Chairman and Chief Executive Officer of CNA Financial Corp.
CNA Financial also announced the declaration of a quarterly dividend of $0.15 per share, payable May 30, 2012 to stockholders of record on May 14, 2012.
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by RTT Staff Writer
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