CNA says since Motamed’s arrival at the company, he has worked closely with producers and employees across the globe to implement strategies leading to increased top- and bottom-line performances. These include further developing industry-specific technical expertise, while maintaining a broad appetite; managing the mix of business to improve profitability; extending its geographic reach throughout the United States, Canada and Europe.
CNA's progress on these strategies is evident in its second quarter 2011 results, which saw premium growth in its specialty and commercial segments, improving rate trends, strong submission activity and new business. This was the first quarter in which CNA had positive growth in both specialty and commercial since fourth quarter 2006.
In addition, CNA says its balance sheet remains very strong under Motamed's leadership, with book value per common share having increased from $20.92 to $43.09 at the end of this year's second quarter, a 106 percent improvement. During last year's third quarter, CNA virtually eliminated its exposures to legacy asbestos and pollution liabilities through a loss portfolio transaction with
