CNA Surety Corp. said Friday that it has rejected a $375 million buyout offer by its majority owner, CNA Financial Corp. A special committee of CNA Surety’s board said the $22-per-share bid by CNA Financial Corp. “substantially undervalues” the company, but the committee said it was open to more discussions with CNA Financial. Get the full story »
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CNA Financial announces first-quarter profit
Associated Press | Chicago-based CNA Financial Corp. said on Monday that it posted a first-quarter profit on improving performance in its investment portfolio, although higher catastrophe losses hurt results. The commercial insurer reported net income for the three months ended
March 31 of $245 million, or 82 cents per share, compared with a loss of
$195 million, or 84 cents per share, in the same quarter a year
earlier.
Get the full story: CNA Financial announces first-quarter profit.
