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|                                 |
|---------------------------------|
|                                 |  |  |
| MEDIA:                          |   | ANALYSTS: |
| Jennifer Martinez, 312/822-5167 |   | Marie Hotza, 312/822-4278 |
| Sarah Pang, 312/822-6394        |   | David Adams, 312/822-2183 |

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                   | Results for the Three Months Ended September 30 (a) |   | Results for the Nine Months Ended September 30 (a) |
| ($ millions)                           | 2012 |   | 2011 (b) |   | 2012 |   | 2011 (b) |
| Net operating income                   | $ | 216 |  |   | $ | 91 |  |   | $ | 594 |  |   | $ | 418 |  |
| Net realized investment gains (losses) | 5 |  |   | (16 | ) |   | 43 |  |   | 2 |  |
| Net income from continuing operations  | 221 |  |   | 75 |  |   | 637 |  |   | 420 |  |
| Net loss from discontinued operations  | — |  |   | — |  |   | — |  |   | (1 | ) |
| Net income                             | $ | 221 |  |   | $ | 75 |  |   | $ | 637 |  |   | $ | 419 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | References to net operating income (loss), net realized investment gains (losses), net income (loss) from continuing operations and net income (loss) used in this press release reflect amounts attributable to CNA, unless otherwise noted.  Management utilizes the net operating income financial measure to monitor the Company's operations.  Please refer to Note N of the Consolidated Financial Statements within CNA's Annual Report on Form 10-K for the year ended December 31, 2011 for further discussion of this measure. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | The Company has adjusted its previously reported financial information included herein to reflect a retrospective change in accounting guidance for deferred acquisition costs.  Financial information included herein gives effect to this adjustment.  For the three and nine months ended September 30, 2011, the impacts of adopting the new accounting standard were no impact and a $5 million decrease in Net operating income and Net income, and no impact and a $0.02 decrease in Earnings per share.  Book value per share at December 31, 2011 decreased $0.26. |

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|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Diluted Earnings Per Share Attributable to Common Stockholders |
|                                                           | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
|                                                           | 2012 |   | 2011 |   | 2012 |   | 2011 |
| Net operating income                                           | $ | 0.80 |  |   | $ | 0.34 |  |   | $ | 2.20 |  |   | $ | 1.55 |  |
| Net realized investment gains (losses)                         | 0.02 |  |   | (0.06 | ) |   | 0.16 |  |   | 0.01 |  |
| Net income from continuing operations                          | 0.82 |  |   | 0.28 |  |   | 2.36 |  |   | 1.56 |  |
| Net loss from discontinued operations                          | — |  |   | — |  |   | — |  |   | — |  |
| Net income                                                     | $ | 0.82 |  |   | $ | 0.28 |  |   | $ | 2.36 |  |   | $ | 1.56 |  |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums decreased $27 million, or 4%, for the third quarter of 2012 as compared with the same period in 2011, primarily due to lower new business levels in certain lines, partially offset by continued positive rate achievement.  Average rate increased 5% for the third quarter of 2012, as compared with flat average rate for the same period in 2011 for the policies that renewed in each period.  Retention of 86% and 87% was achieved in each respective period. |

|         |                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net income increased $58 million and net operating income increased $53 million for the third quarter of 2012 as compared with the same period in 2011, primarily due to higher net investment income. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio decreased 1.0 point for the third quarter of 2012 as compared with the same period in 2011.  The loss ratio decreased 3.0 points, due to the impact of increased favorable net prior year development and an improved current accident year loss ratio.  The expense ratio increased 1.2 points, primarily due to the impact of favorable premium development in 2011. |

|         |                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | CNA Specialty produced third quarter combined ratios of 93.7% and 94.7% in 2012 and 2011.  Excluding the impacts of catastrophe losses and development, the combined ratios were 98.6% and 97.3% for the same comparable periods. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums decreased $25 million, or 3%, for the third quarter of 2012 as compared with the same period in 2011.  Excluding the impact of First Insurance Company of Hawaii (FICOH), which was sold in the fourth quarter of 2011, net written premiums increased 2%.  Average rate increased 8% for the third quarter of 2012, as compared with an increase of 2% for the third quarter of 2011 for the policies that renewed in each period.  Retention of 79% was achieved in each respective period. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net income increased $94 million and net operating income increased $78 million for the third quarter of 2012 as compared with the same period in 2011.  This increase was primarily due to higher net investment income and lower catastrophe losses.  These favorable impacts were partially offset by decreased favorable net prior year development.  Furthermore, income tax expense of $22 million was recorded in 2011 due to an increase in the tax rate applicable to the undistributed earnings of FICOH, which was under contract for sale. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 3.1 points for the third quarter of 2012 as compared with the same period in 2011.  The loss ratio increased 1.8 points, primarily due to the impacts of less favorable net prior year development, partially offset by lower catastrophe losses and an improved current accident year non-catastrophe loss ratio.  The expense ratio increased 1.4 points, primarily due to higher underwriting expenses and the favorable impact of recoveries in 2011 on insurance receivables written off in prior years. |

|         |                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | CNA Commercial produced third quarter combined ratios of 106.0% and 102.9% in 2012 and 2011.  Excluding the impacts of catastrophe losses and development, the combined ratios were 102.9% and 104.0% for the same periods. |

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|         |                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums were $56 million for the third quarter of 2012.  Average rate increased 1% for the third quarter of 2012 for the policies that renewed in the period.  Retention of 72% was achieved in the period. |

|         |                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net income was $2 million and net operating income was $3 million for the third quarter of 2012.  No catastrophe losses were incurred in the period. |

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | Hardy produced a third quarter combined ratio of 85.8%.  Excluding the impact of development, the combined ratio was 94.7%. |

|         |                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net loss increased $7 million for the third quarter of 2012 as compared with the same period in 2011.  This increase was primarily due to unfavorable morbidity in our long term care business. |

|         |                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net loss increased $1 million for the third quarter of 2012 as compared with the same period in 2011.  Results in 2011 benefited from the $10 million impact of a release of a previously established allowance for uncollectible reinsurance receivables arising from a change in estimate. |

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|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Three Months Ended September 30, 2012 |
| ($ millions)                                                  | CNA Specialty |   | CNA Commercial |   | Hardy |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                   | $ | 136 |  |   | $ | 125 |  |   | $ | 3 |  |   | $ | 264 |  |   | $ | (22 | ) |   | $ | (26 | ) |   | $ | 216 |  |
| Net realized investment gains (losses)                        | — |  |   | 7 |  |   | (1 | ) |   | 6 |  |   | (2 | ) |   | 1 |  |   | 5 |  |
| Net income (loss) from continuing operations                  | $ | 136 |  |   | $ | 132 |  |   | $ | 2 |  |   | $ | 270 |  |   | $ | (24 | ) |   | $ | (25 | ) |   | $ | 221 |  |

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Three Months Ended September 30, 2011 |
| ($ millions)                                                  | CNA Specialty |   | CNA Commercial |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                   | $ | 83 |  |   | $ | 47 |  |   | $ | 130 |  |   | $ | (14 | ) |   | $ | (25 | ) |   | $ | 91 |  |
| Net realized investment gains (losses)                        | (5 | ) |   | (9 | ) |   | (14 | ) |   | (3 | ) |   | 1 |  |   | (16 | ) |
| Net income (loss) from continuing operations                  | $ | 78 |  |   | $ | 38 |  |   | $ | 116 |  |   | $ | (17 | ) |   | $ | (24 | ) |   | $ | 75 |  |

|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Nine Months Ended September 30, 2012 |
| ($ millions)                                                 | CNA Specialty |   | CNA Commercial |   | Hardy |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                  | $ | 374 |  |   | $ | 321 |  |   | $ | 3 |  |   | $ | 698 |  |   | $ | (38 | ) |   | $ | (66 | ) |   | $ | 594 |  |
| Net realized investment gains (losses)                       | 12 |  |   | 22 |  |   | (1 | ) |   | 33 |  |   | 9 |  |   | 1 |  |   | 43 |  |
| Net income (loss) from continuing operations                 | $ | 386 |  |   | $ | 343 |  |   | $ | 2 |  |   | $ | 731 |  |   | $ | (29 | ) |   | $ | (65 | ) |   | $ | 637 |  |

|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Nine Months Ended September 30, 2011 |
| ($ millions)                                                 | CNA Specialty |   | CNA Commercial |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                  | $ | 326 |  |   | $ | 213 |  |   | $ | 539 |  |   | $ | (51 | ) |   | $ | (70 | ) |   | $ | 418 |  |
| Net realized investment gains (losses)                       | 5 |  |   | 9 |  |   | 14 |  |   | (5 | ) |   | (7 | ) |   | 2 |  |
| Net income (loss) from continuing operations                 | $ | 331 |  |   | $ | 222 |  |   | $ | 553 |  |   | $ | (56 | ) |   | $ | (77 | ) |   | $ | 420 |  |

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Operations Gross Written Premiums |
|                                                      | Three Months Ended September 30 |   | Nine Months Ended September 30 |
| ($ millions)                                              | 2012 |   | 2011 |   | 2012 |   | 2011 |
| CNA Specialty                                             | $ | 1,211 |  |   | $ | 1,139 |  |   | $ | 3,670 |  |   | $ | 3,348 |  |
| CNA Commercial                                            | 864 |  |   | 882 |  |   | 2,715 |  |   | 2,740 |  |
| Hardy                                                     | 87 |  |   |   |   | 87 |  |   |   |
| Total P&C Operations                                  | $ | 2,162 |  |   | $ | 2,021 |  |   | $ | 6,472 |  |   | $ | 6,088 |  |

|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Operations Net Written Premiums |
|                                                    | Three Months Ended September 30 |   | Nine Months Ended September 30 |
| ($ millions)                                            | 2012 |   | 2011 |   | 2012 |   | 2011 |
| CNA Specialty                                           | $ | 723 |  |   | $ | 750 |  |   | $ | 2,206 |  |   | $ | 2,172 |  |
| CNA Commercial                                          | 811 |  |   | 836 |  |   | 2,543 |  |   | 2,544 |  |
| Hardy                                                   | 56 |  |   |   |   | 56 |  |   |   |
| Total P&C Operations                                | $ | 1,590 |  |   | $ | 1,586 |  |   | $ | 4,805 |  |   | $ | 4,716 |  |

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|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Calendar Year Loss Ratios |
|                                              | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                              | 2012 |   | 2011 |   | 2012 |   | 2011 |
| CNA Specialty                                     | 62.5 | % |   | 65.5 | % |   | 63.6 | % |   | 63.6 | % |
| CNA Commercial                                    | 70.5 | % |   | 68.7 | % |   | 71.3 | % |   | 74.7 | % |
| Hardy                                             | 33.3 | % |   |   |   | 33.3 | % |   |   |
| Total P&C Operations                          | 65.4 | % |   | 67.2 | % |   | 67.3 | % |   | 69.5 | % |

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Calendar Year Combined Ratios |
|                                                  | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                  | 2012 |   | 2011 |   | 2012 |   | 2011 |
| CNA Specialty                                         | 93.7 | % |   | 94.7 | % |   | 95.1 | % |   | 94.0 | % |
| CNA Commercial                                        | 106.0 | % |   | 102.9 | % |   | 106.8 | % |   | 109.5 | % |
| Hardy                                                 | 85.8 | % |   |   |   | 85.8 | % |   |   |
| Total P&C Operations                              | 99.7 | % |   | 99.1 | % |   | 101.1 | % |   | 102.3 | % |

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |
| CNA Specialty Effect of Catastrophe Impacts and Development-Related Items                |
|                                                                                     | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                                                     | 2012 |   | 2011 |   | 2012 |   | 2011 |
| Combined ratio excluding the effect of catastrophe impacts and development-related items | 98.6 |  % |   | 97.3 |  % |   | 98.9 |  % |   | 98.0 |  % |
| Effect of catastrophe impacts                                                            | 0.5 |  |   | 0.5 |  |   | 0.4 |  |   | 0.5 |  |
| Effect of development-related items                                                      | (5.4 | ) |   | (3.1 | ) |   | (4.2 | ) |   | (4.5 | ) |
| Combined ratio                                                                           | 93.7 |  % |   | 94.7 |  % |   | 95.1 |  % |   | 94.0 |  % |

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |
| CNA Commercial Effect of Catastrophe Impacts and Development-Related Items               |
|                                                                                     | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                                                     | 2012 |   | 2011 |   | 2012 |   | 2011 |
| Combined ratio excluding the effect of catastrophe impacts and development-related items | 102.9 | % |   | 104.0 |  % |   | 103.8 |  % |   | 104.8 |  % |
| Effect of catastrophe impacts                                                            | 2.8 |  |   | 5.5 |  |   | 4.7 |  |   | 8.1 |  |
| Effect of development-related items                                                      | 0.3 |  |   | (6.6 | ) |   | (1.7 | ) |   | (3.4 | ) |
| Combined ratio                                                                           | 106.0 | % |   | 102.9 |  % |   | 106.8 |  % |   | 109.5 |  % |

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |
| Hardy Effect of Catastrophe Impacts and Development-Related Items                        |
|                                                                                     | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                                                     | 2012 |   | 2011 |   | 2012 |   | 2011 |
| Combined ratio excluding the effect of catastrophe impacts and development-related items | 94.7 |  % |   |  |   | 94.7 |  % |   |  |
| Effect of catastrophe impacts                                                            | — |  |   |   |   | — |  |   |   |
| Effect of development-related items                                                      | (8.9 | ) |   |   |   | (8.9 | ) |   |   |
| Combined ratio                                                                           | 85.8 |  % |   |   |   | 85.8 |  % |   |   |

|                                                                                                |
|------------------------------------------------------------------------------------------------|
|                                                                                                |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Operations Effect of Catastrophe Impacts and Development-Related Items |
|                                                                                           | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                                                           | 2012 |   | 2011 |   | 2012 |   | 2011 |
| Combined ratio excluding the effect of catastrophe impacts and development-related items       | 100.7 |  % |   | 101.0 |  % |   | 101.3 |  % |   | 101.8 |  % |
| Effect of catastrophe impacts                                                                  | 1.6 |  |   | 3.1 |  |   | 2.6 |  |   | 4.5 |  |
| Effect of development-related items                                                            | (2.6 | ) |   | (5.0 | ) |   | (2.8 | ) |   | (4.0 | ) |
| Combined ratio                                                                                 | 99.7 |  % |   | 99.1 |  % |   | 101.1 |  % |   | 102.3 |  % |

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