CNA reports $191mn Q3 cat loss but beats expectations

Third quarter group operating income at CNA Financial fell 49
percent year-on-year to $159mn as the US carrier disclosed a $191mn
post-tax catastrophe loss.
Operating earnings per share (EPS) came in at $0.58 to beat the
analyst consensus of $0.51, as provided by Zacks.
The catastrophe losses pushed up the P&C combined ratio by
13.3 percentage points from Q3 last year to 103.7 percent.
Cat losses accounted for 16.5 percentage points of the combined
ratio, compared to just 1.0 point...