CNA Extends Term of Chairman & Chief Executive Officer Dino E. Robusto

Rhea-AI Summary

CNA Financial Corporation (NYSE: CNA) has renewed the employment agreement of Chairman & CEO Dino E. Robusto, extending his tenure through 2024. Since December 2016, Robusto has fostered a strong underwriting culture and talent retention across the company. Notably, CNA's P&C combined ratio has improved annually, while Core Income reached $2.7B over the past three years, the highest in two decades. This performance has led to consistent dividend increases and positive ratings from agencies such as Moody's and Standard & Poor's, which upgraded CNA to A+ in 2019.

Positive

• Renewed employment agreement for CEO Dino E. Robusto through 2024.
• CNA's Core Income of $2.7B over the past three years, the highest in 20 years.
• Annual improvement in P&C combined ratio performance.
• Consistent increases in total dividends paid to shareholders.

Negative

• None.

CHICAGO, Aug. 10, 2020 /PRNewswire/ -- CNA Financial Corporation (NYSE: CNA) has entered into a new employment agreement with its Chairman & Chief Executive Officer, Dino E. Robusto, that extends the term of his employment  through 2024. Robusto has served as Chairman & Chief Executive Officer of the Company since December 2016.

Under Robusto's leadership, CNA has developed an enduring underwriting culture characterized by deep industry and product line specialization in each business unit. Together with a highly collaborative and expert leadership team, CNA has been able to attract, develop and retain top talent across all disciplines within the organization. 

During his tenure, the Company's underlying P&C combined ratio performance has improved each year. CNA has also become a meaningful solution provider to broker and agent partners across a broad commercial spectrum evidenced by growth accelerating each year.   

CNA has maintained an extremely strong balance sheet and produced Core Income of $2.7B in the past three years, which was the highest three-year period over the past 20 years. This has led to an increased total dividend being paid to shareholders each year. CNA's improved performance under Robusto has been recognized by various rating agencies including Moody's in 2017 and Standard & Poor's, which upgraded CNA to A+ in 2019.

"I am extremely proud of the significant progress our entire team has made across our U.S. and International offices, and I am grateful for the opportunity to lead this talented organization to higher levels of success," Robusto said. 

About CNA 
CNA is one of the largest U.S. commercial property and casualty insurance companies. CNA provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada and Europe, backed by 120 years of experience and more than $45 billion of assets. For more information about CNA, visit our website at www.cna.com.

Press Contacts                                                            

Brandon Davis
CNA
brandon.davis@cna.com
312-822-5885

CNA Newsroom
newsroom@cna.com
312-822-5167

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/cna-extends-term-of-chairman--chief-executive-officer-dino-e-robusto-301109363.html

SOURCE CNA Financial Corporation

FAQ

What is the significance of CNA extending CEO Dino E. Robusto's contract through 2024?

The extension indicates strong leadership continuity and commitment to CNA's ongoing growth and stability.

How has CNA's financial performance been under Dino E. Robusto?

CNA has seen significant improvements in financial metrics, including an annual increase in Core Income, which reached $2.7B over the last three years.

What improvements has CNA made in its underwriting culture?

Under Robusto's leadership, CNA has established a strong underwriting culture with deep industry specialization, improving its P&C combined ratio performance.

How has CNA been recognized by rating agencies?

CNA's improved performance has been acknowledged by rating agencies, receiving an A+ upgrade from Standard & Poor's in 2019.