{"id":915887,"date":"2025-12-03T15:20:06","date_gmt":"2025-12-03T20:20:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-upgrades-credit-ratings-of-cna-financial-corporation-and-its-subsidiaries\/"},"modified":"2025-12-03T15:20:06","modified_gmt":"2025-12-03T20:20:06","slug":"am-best-upgrades-credit-ratings-of-cna-financial-corporation-and-its-subsidiaries","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-upgrades-credit-ratings-of-cna-financial-corporation-and-its-subsidiaries\/","title":{"rendered":"AM Best Upgrades Credit Ratings of CNA Financial Corporation and Its Subsidiaries"},"content":{"rendered":"

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AM Best Upgrades Credit Ratings of CNA Financial Corporation and Its Subsidiaries<\/b><\/p>\n

OLDWICK, N.J.–(BUSINESS WIRE<\/a>)–AM Best <\/b>has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to \u201caa-\u201d (Superior) from \u201ca+\u201d (Excellent) of the property\/casualty (P\/C) subsidiaries of CNA Financial Corporation (CNAF) [NYSE: CNA], collectively known as CNA Insurance Companies (CNA), and the members of Western Surety Group (WSG). Concurrently, AM Best has upgraded the Long-Term ICR to \u201ca-\u201d (Excellent) from \u201cbbb+\u201d (Good) and the Long-Term Issue Credit Ratings (Long-Term IRs) of CNAF. The outlook of these Credit Ratings (ratings) has been revised to stable from positive. All named companies are headquartered in Chicago, IL. (See below for a detailed listing of the companies and ratings.)\n<\/p>\n

\nCNA is considered the lead rating unit in the CNAF enterprise. CNA\u2019s ratings reflect its balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM). CNA has had consistently positive operating performance over the most recent five-year period underpinned by its commercial casualty underwriting and its overall investment metrics, which compare favorably with its commercial casualty peers. Additionally, the supportive ownership by CNAF is viewed positively by AM Best. The ratings also acknowledge the historical financial support provided by CNA\u2019s diversified 92% shareholder ultimate parent, Loews Corporation.\n<\/p>\n

\nThe ratings of CNA\u2014whose lead member is Continental Casualty Company\u2014recognize the strongest level of risk-adjusted capitalization, as measured by Best\u2019s Capital Adequacy Ratio (BCAR), the group\u2019s consistently profitable operating results and its position as a leading U.S. writer of commercial and specialty lines. Additionally, the ratings recognize CNA\u2019s favorable operating platform, which demonstrates considerable geographic and product line scope, strong service capabilities and its diversified distribution channel with well-established agency relationships. The commercial insurance operations have developed into a significant source of profitability and internal capital generation, attributable to the successful implementation of underwriting and expense management initiatives. The ratings also consider CNA\u2019s ERM structure, and the implicit and explicit financial and organizational support provided by the Loews Corporation.\n<\/p>\n

\nPartially offsetting these positive factors are the intermittent adverse impacts of CNA\u2019s discontinued long-term care block of business, which at times has served as a drag on CNA\u2019s overall profitability and has exposed its surplus and risk-adjusted capitalization to potential volatility. Additional factors affecting the group\u2019s credit profile are its moderate underwriting exposures to catastrophe losses associated with its commercial property product lines, reserve uncertainties, which generally affect litigation-sensitive casualty lines, as well as cyber-related and other underwriting exposures.\n<\/p>\n

\nThe ratings of WSG reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate ERM.\n<\/p>\n

\nAdditionally, WSG\u2019s ratings reflect its strongest risk-adjusted capitalization, as measured by BCAR, its consistently favorable loss reserve position and its modest level of underwriting leverage. WSG maintains a strong market position in contract and miscellaneous surety bond markets and has consistently reported profitable underwriting and operating performance. Partially offsetting these positive factors is WSG\u2019s narrow product focus in a highly competitive surety market, which may put pressure on underwriting margins over the near term.\n<\/p>\n

\nThe FSR has been upgraded to A+ (Superior) from A (Excellent) and the Long-Term ICRs to \u201caa-\u201d (Superior) from \u201ca+\u201d (Excellent), with the outlooks revised to stable from positive, for the following members of CNA Insurance Companies:\n<\/p>\n