Cna Gains Help Boost Loews' Profit In 3q

posted on 17 Nov 2013 19:14 by knowingyesterda47

Centrica Rating Reiterated by Deutsche Bank (CNA)

The company's adjusted profit fell even though its biggest holding, insurer CNA Financial Corp, reported a 25 percent jump in its operating profit due to higher premium income and lower non-catastrophe losses. The hotel, energy and financial services conglomerate reported a 59 percent jump in profit as it booked a smaller impairment charge in its HighMount Exploration & Production unit in the latest reported quarter. Net profit rose to $282 million, or 73 cents per share, from $177 million, or 45 cents per share, a year earlier. Excluding the charges, adjusted net income fell to $324 million from $343 million. Loews' net investment income fell 5 percent to $647 million. Diamond Offshore, Loews' second-largest business, said on Thursday quarterly profit fell due to previously disclosed cash flow issues for two of its customers. Net operating income at CNA Financial rose to $269 million, or $1 per share, from $216 million, or 80 cents per share, a year earlier. Analysts on average had expected earnings per share of 76 cents for CNA, according to Thomson Reuters I/B/E/S. We are encouraged by the margin improvement, the ongoing favorable rate trends, and the continued shift in our book of business toward focus customer segments, CNA Chief Executive Thomas Motamed said in a statement. They have risen about 5 percent since the company last reported quarterly results. CNA shares closed at $39.69 on Friday.
Source: http://www.chicagotribune.com/business/breaking/chi-loews-earnings-20131028,0,6925079.story

CNA Said to Seek Buyer for $500 Million Annuities Unit

The pilgrimage, entitled Our Lady of Guadalupe, Star of the New Evangelization, will begin with a video message from Pope Francis on Nov. 16th and will last until Nov. 19th, allowing time for both prayer and discussion of current issues within the Americas. The pilgrimage is co-sponsored by the Knights of Columbus, and will include an addresss by Carl Anderson, the group's Supreme Knight. Anderson said that "at Guadalupe, Mary's message was one of love and reconciliation, whichcan be seen echoed inPope Francis' efforts to reach out to the poor and marginalized,tothe fallen-away and those who have never really followed Christ." "Pope Francis has focused on the New Evangelization with a model that is clearly related to the American model embodied by Our Lady of Guadalupe-- a model based on loving outreach, on charity and on concern for the spiritual and physical well-being ofall." Reflecting on previous meetings under different pontiffs, Carriquiry explained that they hope to continue past initiatives, giving more links, communion and collaboration between the churches in Latin America, the United States and Canada. Being in the Sanctuary of Our Lady of Guadalupe for the three-day encounter is particularly significant, noted Carriquiry, because it is the place of meeting, the place of significance, of the unity of people, of all the American continent, the Star of first New Evangelization, the Empress of America. The secretary also explained that an intercontinental vision between the Americas can be difficult to comprehend due to the fact that they are often distinguished by their separate continents. The faith embodied in the different realities of the Latin America he highlighted, by a process of enculturation are diversified, but thanks to the apparition of Our Lady of Guadalupe, faith is in all our land. Our nationalities are also lived in diverse ways, he added, particularly in the development of cultural, social, economic, and political areas. What seems fundamental to me is to have a coming together with the diversity to bring them the biggest unity possible, Carriquiry expressed. We think that the biggest communion between the churches of the United States and Canada and the churches of Latin America will be carried out through solidarity of people and nationalities of the whole continent. In order for this to happen, he noted, the participation of all, the bishops specifically, is very important. Among the three hundred officials invited who will be attending the meetings will be the new cardinals recently named by Pope Francis, Cardinal Timothy Dolan of New York, Archbishop Charles Chaput of Philadelphia and close to 80 others from Canada to Argentina.
Source: http://www.catholicnewsagency.com/news/bishops-pilgrimage-to-marian-shrine-seeks-to-foster-unity/

Uptrend Call Working As CNA Financial Stock Rises 23.5% (CNA)

"I am excited to have Drew bring his knowledge and expertise to this leadership role," said Bob Lindemann, president and chief operating officer, CNA Commercial. "Drew is a talented professional who adds a great deal of value to the CNA enterprise, and by supporting his development we are not only strengthening his leadership skills but we are also investing in the future of our company." For the past two years, Drew was the Inland Marine zone leader supporting the Mid-Atlantic and Northern Zones. Drew started his career with The Hartford and held a number of positions with increasing responsibility. During his tenure with CNA, Drew has helped develop and lead CNA's growth and margin strategies. Drew received his undergraduate degree from the University of Missouri and his MBA from the University of Texas. He will be relocating to Chicago from Maryland to assume this role. Drew can be reached at 202-416-4773, or at andrew.cadelli@cna.com. Serving businesses and professionals since 1897, CNA is the country's seventh largest commercial insurance writer and the 13th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration.
Source: http://www.marketwatch.com/story/cna-promotes-new-vice-president-of-inland-marine-2013-09-13

Bishops' pilgrimage to Marian shrine seeks to foster unity

Our Lady of Guadalupe The business could fetch about $500 million, two people said. Insurers are exiting businesses including life coverage and annuities that are struggling when interest rates are low. Allstate Corp. said in July that it will stop issuing fixed annuities at the end of this year, and Sun Life Financial Inc. in August sold its U.S. annuity business for $1.35 billion. Jennifer Martinez-Roth, a spokeswoman for Chicago-based CNA, declined to comment on the potential sale as did Mary Claire Delaney, a spokeswoman for Morgan Stanley. The unit had net reserves of about $2.6 billion at the end of June, according to CNAs second-quarter report. It hasnt been adding new business for at least 9 years, D.
Source: http://www.bloomberg.com/news/2013-10-01/cna-financial-said-to-seek-bids-for-500-million-annuities-unit.html

CNA building Deutsche Banks target price suggests a potential upside of 24.53% from the stocks previous close. Centrica ( LON:CNA ) opened at 345.30 on Friday. Centrica has a one year low of GBX 313.10 and a one year high of GBX 403.20. The stock has a 50-day moving average of GBX 360.7 and a 200-day moving average of GBX 376.2. The companys market cap is 17.890 billion. CNA has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a neutral rating on shares of Centrica in a research note to cna classes investors on Monday. They now have a GBX 390 ($6.24) price target on the stock.
Source: http://tickerreport.com/banking-finance/70217/centrica-rating-reiterated-by-deutsche-bank-cna-2/

CNA Promotes New Vice President Of Inland Marine

In approximately 5 months, CNA Financial has returned 23.48% as of today's recent price of $40.57. In the past 52 weeks, shares of CNA Financial have traded between a low of $26.85 and a high of $41.35 and are now at $40.57, which is 51% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%. CNA Financial Corporation operates as an insurance holding company and, through its subsidiaries, provides commercial property and casualty coverages. The Company's services include risk management, information services, warranty and claims administration. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators http://cnaclasses91.skyrock.com for any shifts in the trajectory of CNA Financial shares. Log in and add CNA Financial (CNA) to your watchlist today so you can receive a real-time alert when the shares are about to change trend. Keywords: spotlights cna financial Contact Shiri Gupta Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com . Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup .
Source: http://www.mysmartrend.com/news-briefs/technical-analysis/uptrend-call-working-cna-financial-stock-rises-235-cna

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