NU Online News Service, Nov. 1, 1:16 p.m. – CNA Financial Corp., Chicago, is reporting a $155 million net loss for the third quarter on $3.1 billion in revenue, compared with $550 million in net income on $4.3 billion in revenue for the third quarter of 2000.
Revenue is down partly because revenue figures for the third quarter of 2000 included $605 million in one-time investment gains.
The latest income statement also includes $304 million in costs resulting from the Sept. 11 attacks.
CNA sells property-casualty insurance as well as group benefits, individual life insurance and pension products. The property-casualty operations bore most of the brunt of the Sept. 11 claims.