CHICAGO, Oct. 24, 2016 /PRNewswire/ -- CNA Financial
Corporation (NYSE: CNA) announced today that Dino E. Robusto will assume the role of Chairman
and Chief Executive Officer on November 21,
2016, succeeding Thomas F.
Motamed, who is retiring after eight years at the helm of
CNA. Last November CNA announced that Mr. Robusto would be joining
the company in late 2016.
"Dino's impressive track record of success and extensive
experience across nearly every insurance industry discipline will
serve CNA well in the Company's next phase of growth and
development," said James S. Tisch, a
member of the CNA Board of Directors and Chief Executive Officer of
Loews Corporation (NYSE: L), CNA's largest shareholder. "The CNA
Board of Directors and I enthusiastically welcome Dino and look
forward to benefiting from his leadership."
"We would also like to thank Tom for his many accomplishments at
CNA. During Tom's tenure, CNA's underwriting capabilities,
operating performance and competitive standing have improved
significantly," Mr. Tisch emphasized. "Tom is leaving the company
with a deep bench and a fortress balance sheet. Over the past three
years, CNA has paid almost $2 billion
in dividends to shareholders while maintaining a AAA level of
capital."
Mr. Tisch added, "Dino is inheriting a CNA poised for continued
growth and further value creation, thanks to the expertise and
dedication of Tom and his team."
About CNA
Serving businesses and professionals since
1897, CNA is the country's eighth largest commercial insurance
writer and the 14th largest property and casualty company. CNA's
insurance products include commercial lines, specialty lines,
surety, marine and other property and casualty coverages. CNA's
services include risk management, information services,
underwriting, risk control and claims administration. For more
information, please visit CNA at www.cna.com. "CNA" is a service
mark registered by CNA Financial Corporation with the United States
Patent and Trademark Office. Certain CNA Financial Corporation
subsidiaries use the "CNA" service mark in connection with
insurance underwriting and claims activities.
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CONTACT:
Brandon Davis, 312-822-5167 /
312-834-6091
Sarah Pang, 312-822-6394 /
312-607-5544
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