CNA FINANCIAL CORP
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
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Portfolio Quality
The following table presents the estimated fair value and net unrealized gains (losses) of our fixed maturity securities by rating distribution.
| December 31 | 2024 | 2023 | ||
|---|---|---|---|---|
| (In millions) | Estimated Fair Value | Net Unrealized Gains ( Losses) | Estimated Fair Value | Net Unrealized Gains ( Losses) |
| U.S. Government, Government agencies and Government-sponsored enterprises | $2,936 | $(369) | $2,795 | $(298) |
| AAA | 3,010 | (217) | 2,727 | (169) |
| AA | 6,369 | (567) | 6,444 | (420) |
| A | 10,260 | (379) | 9,910 | (223) |
| BBB | 16,757 | (729) | 16,670 | (744) |
| Non-investment grade | 1,779 | (64) | 1,879 | (119) |
| Total | $41,111 | $(2,325) | $40,425 | $(1,973) |
As of December 31, 2024 and 2023, 1% of our fixed maturity portfolio was rated internally. AAA rated securities included $0.2 billion of prefunded municipal bonds as of December 31, 2024 and 2023.
The following table presents available-for-sale fixed maturity securities in a gross unrealized loss position by ratings distribution.
| December 31, 2024 | ||
|---|---|---|
| (In millions) | Estimated Fair Value | Gross Unrealized Losses |
| U.S. Government, Government agencies and Government-sponsored enterprises | $2,567 | $373 |
| AAA | 1,830 | 283 |
| AA | 4,257 | 730 |
| A | 6,340 | 582 |
| BBB | 11,548 | 980 |
| Non-investment grade | 796 | 92 |
| Total | $27,338 | $3,040 |
The following table presents the maturity profile for these available-for-sale fixed maturity securities. Securities not due to mature on a single date are allocated based on weighted average life.
| December 31, 2024 | ||
|---|---|---|
| (In millions) | Estimated Fair Value | Gross Unrealized Losses |
| Due in one year or less | $1,390 | $16 |
| Due after one year through five years | 7,731 | 366 |
| Due after five years through ten years | 7,762 | 910 |
| Due after ten years | 10,455 | 1,748 |
| Total | $27,338 | $3,040 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.