CNA FINANCIAL CORP
For the period ended Dec 31, 2025. Filed Feb 10, 2026.
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FY2025 · Filed Feb 10, 2026
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Corporate & Other
Corporate & Other primarily includes certain corporate expenses, including interest on corporate debt, and the results of certain property and casualty business in run-off, including A&EP, a legacy portfolio of EWC policies and certain legacy mass tort reserves.
The following table summarizes the results of operations for the Corporate & Other segment, including intersegment eliminations.
| (In millions) | 2025 | 2024 |
|---|---|---|
| Net investment income | $62 | $67 |
| Insurance claims and policyholders' benefits | 201 | 106 |
| Interest expense | 135 | 133 |
| Core loss | (278) | (210) |
Core loss increased $68 million for 2025 as compared with 2024. 2025 includes a $106 million after-tax charge related to unfavorable net prior year loss reserve development largely associated with legacy mass tort abuse reserves compared with a $62 million after-tax charge in 2024. The current year also includes an unfavorable non-economic impact related to the A&EP LPT. The prior year included $16 million of after-tax charges related to office consolidation.
The application of retroactive reinsurance accounting to additional cessions to the A&EP LPT resulted in an after-tax charge of $36 million and $6 million in 2025 and 2024, both of which have no economic impact.
The net prior year loss reserve development and A&EP LPT are further discussed in Note E to the Consolidated Financial Statements included under Item 8.
The following table summarizes the gross and net carried reserves for Corporate & Other.
| (In millions) | 2025 | 2024 |
|---|---|---|
| Gross case reserves | $1,196 | $1,241 |
| Gross IBNR reserves | 1,403 | 1,431 |
| Total gross carried claim and claim adjustment expense reserves | $2,599 | $2,672 |
| Net case reserves | $119 | $120 |
| Net IBNR reserves | 238 | 268 |
| Total net carried claim and claim adjustment expense reserves | $357 | $388 |
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