S&P ups CNA Financial

S&P said it raised its long-term issuer credit rating on CNA Financial Corp. to A- from BBB+.

“The upgrade recognizes CNA’s operating performance, earnings stability, and market presence commensurate with its A+ peers. The company is among the top-10 commercial primary insurers in the U.S. Since 2016 the company has deepened its underwriting culture, effectively realigned with distribution partners, actively reduced expense, and reconstructed its underwriting portfolio, increasing its focus on specialized products while contracting certain non-performing standard commercial lines,” said S&P in a press release.

The outlook is stable.

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