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|                             |
|-----------------------------|
|                             |  |  |
| MEDIA:                      |   | ANALYSTS: |
| Brandon Davis, 312-822-5167 |   | James Anderson, 312-822-7757 |
| Sarah Pang, 312-822-6394    |   | Emma Riza, 312-822-5960 |
|                        |   | Robert Tardella, 312-822-4387 |

|         |                                                                  |
|---------|------------------------------------------------------------------|
| • | NET INCOME OF $272M; $1.00 PER SHARE; NET INCOME ROE OF 9.2% |

|         |                                                                     |
|---------|---------------------------------------------------------------------|
| • | NET OPERATING INCOME OF $239M; $0.88 PER SHARE; NOI ROE OF 8.0% |

|         |                                                          |
|---------|----------------------------------------------------------|
| • | P&C COMBINED RATIO OF 93.5% VS 97.4% IN 2016 |

|         |                                                                                    |
|---------|------------------------------------------------------------------------------------|
| • | P&C COMBINED RATIO EX CATASTROPHES & DEVELOPMENT OF 94.6% VS 98.3% IN 2016 |

|         |                                                     |
|---------|-----------------------------------------------------|
| • | QUARTERLY DIVIDEND INCREASED 20% TO $0.30 PER SHARE |

|                                         |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                    | Results for the Three Months Ended June 30 |   | Results for the Six Months Ended June 30 |
| ($ millions, except per share data)     | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net operating income (a)                | $ | 239 |  |   | $ | 201 |  |   | $ | 474 |  |   | $ | 292 |  |
| Net realized investments gains (losses) | 33 |  |   | 8 |  |   | 58 |  |   | (17 | ) |
| Net income                              | $ | 272 |  |  | $ | 209 |  |  | $ | 532 |  |  | $ | 275 |  |
|                                    |   |   |   |   |   |   |   |
| Net operating income per diluted share  | $ | 0.88 |  |   | $ | 0.74 |  |   | $ | 1.74 |  |   | $ | 1.08 |  |
| Net income per diluted share            | 1.00 |  |   | 0.77 |  |   | 1.96 |  |   | 1.02 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                | June 30, 2017 |   | December 31, 2016 |
| Book value per share                | $ | 44.39 |  |   | $ | 44.25 |  |
| Book value per share excluding AOCI | 44.26 |  |   | 44.89 |  |

|     |                                                                                                                                                                                                                                                                                                                         |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | Management utilizes the net operating income financial measure to monitor the Company's operations.  Please refer herein and to Note O in the Consolidated Financial Statements within CNA's Annual Report on Form 10-K for the year ended December 31, 2016 for further discussion of this non-GAAP financial measure. |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended June 30 |   | Results for the Six Months Ended June 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 1,702 |  |   |   | $ | 1,625 |  |   |   | $ | 3,334 |  |   |   | $ | 3,293 |  |   |
| NWP change (% year over year)                         | 5 |  | % |   | (1 | ) | % |   | 1 |  | % |   | — |  | % |
| Net investment income                                 | $ | 276 |  |   |   | $ | 310 |  |   |   | $ | 619 |  |   |   | $ | 555 |  |   |
| Net operating income                                  | 261 |  |   |   | 229 |  |   |   | 529 |  |   |   | 436 |  |   |
| Net income                                            | 289 |  |   |   | 239 |  |   |   | 574 |  |   |   | 430 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 60.5 |  | % |   | 63.9 |  | % |   | 61.3 |  | % |   | 62.9 |  | % |
| Effect of catastrophe impacts                         | 2.4 |  |   |   | 5.3 |  |   |   | 2.3 |  |   |   | 3.9 |  |   |
| Effect of development-related items                   | (3.5 | ) |   |   | (6.2 | ) |   |   | (2.9 | ) |   |   | (4.9 | ) |   |
| Loss ratio                                            | 59.4 |  | % |   | 63.0 |  | % |   | 60.7 |  | % |   | 61.9 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 93.5 |  | % |   | 97.4 |  | % |   | 95.3 |  | % |   | 96.8 |  | % |
| Combined ratio excluding catastrophes and development | 94.6 |  | % |   | 98.3 |  | % |   | 95.9 |  | % |   | 97.8 |  | % |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended June 30 |   | Results for the Six Months Ended June 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 716 |  |   |   | $ | 691 |  |   |   | $ | 1,395 |  |   |   | $ | 1,375 |  |   |
| NWP change (% year over year)                         | 4 |  | % |   | 3 |  | % |   | 1 |  | % |   | — |  | % |
| Net operating income                                  | $ | 136 |  |   |   | $ | 164 |  |   |   | $ | 290 |  |   |   | $ | 291 |  |   |
| Net income                                            | 145 |  |   |   | 166 |  |   |   | 303 |  |   |   | 286 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 60.6 |  | % |   | 62.5 |  | % |   | 61.7 |  | % |   | 62.5 |  | % |
| Effect of catastrophe impacts                         | 0.8 |  |   |   | 1.3 |  |   |   | 0.7 |  |   |   | 1.0 |  |   |
| Effect of development-related items                   | (3.7 | ) |   |   | (9.9 | ) |   |   | (4.5 | ) |   |   | (8.0 | ) |   |
| Loss ratio                                            | 57.7 |  | % |   | 53.9 |  | % |   | 57.9 |  | % |   | 55.5 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 89.9 |  | % |   | 85.4 |  | % |   | 90.1 |  | % |   | 87.4 |  | % |
| Combined ratio excluding catastrophes and development | 92.8 |  | % |   | 94.0 |  | % |   | 93.9 |  | % |   | 94.4 |  | % |

|         |                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating income decreased $28 million for the second quarter of 2017 as compared with the prior year quarter, primarily due to lower favorable net prior year loss reserve development and lower net investment income. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 4.5 points while the combined ratio excluding catastrophes and development improved 1.2 points as compared with the prior year quarter.  The loss ratio increased 3.8 points driven by lower favorable net prior year loss reserve development partially offset by an improved current accident year loss ratio.  Catastrophe losses were $5 million, or 0.8 points of the loss ratio in the second quarter of 2017, as compared to $9 million, or 1.3 points of the loss ratio, for the prior year quarter.  The expense ratio increased 0.7 points as compared with the prior year quarter. |

|         |                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $25 million as compared with the prior year quarter.  The renewal premium change was 1% driven by rate and retention remained strong at 88%.  New business was modestly higher and broad-based. |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended June 30 |   | Results for the Six Months Ended June 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 767 |  |   |   | $ | 740 |  |   |   | $ | 1,482 |  |   |   | $ | 1,488 |  |   |
| NWP change (% year over year)                         | 4 |  | % |   | 3 |  | % |   | — |  | % |   | 1 |  | % |
| Net operating income                                  | $ | 115 |  |   |   | $ | 92 |  |   |   | $ | 209 |  |   |   | $ | 166 |  |   |
| Net income                                            | 128 |  |   |   | 97 |  |   |   | 230 |  |   |   | 159 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 59.4 |  | % |   | 61.6 |  | % |   | 60.8 |  | % |   | 61.6 |  | % |
| Effect of catastrophe impacts                         | 4.8 |  |   |   | 8.0 |  |   |   | 4.4 |  |   |   | 6.1 |  |   |
| Effect of development-related items                   | (4.2 | ) |   |   | (2.2 | ) |   |   | (1.8 | ) |   |   | (1.9 | ) |   |
| Loss ratio                                            | 60.0 |  | % |   | 67.4 |  | % |   | 63.4 |  | % |   | 65.8 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 95.1 |  | % |   | 103.5 |  | % |   | 99.8 |  | % |   | 102.7 |  | % |
| Combined ratio excluding catastrophes and development | 94.5 |  | % |   | 97.7 |  | % |   | 97.2 |  | % |   | 98.5 |  | % |

|         |                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating income increased $23 million for the second quarter of 2017 as compared with the prior year quarter, due to improved underwriting results partially offset by lower net investment income. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 8.4 points and the combined ratio excluding catastrophes and development improved 3.2 points as compared with the prior year quarter.  The loss ratio improved 7.4 points due to an improved current accident year loss ratio and higher favorable net prior year loss reserve development.  Catastrophe losses were $35 million, or 4.8 points of the loss ratio, in the second quarter of 2017 as compared to $55 million, or 8.0 points of the loss ratio, for the prior year quarter.  The expense ratio improved 1.2 points as compared with the prior year quarter, due to lower employee costs. |

|         |                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $27 million as compared with the prior year quarter, driven by higher new business within Middle Markets.  Renewal premium change was 2% driven by exposure growth as average rate was flat.  Retention decreased to 82%. |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended June 30 |   | Results for the Six Months Ended June 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 219 |  |   |   | $ | 194 |  |   |   | $ | 457 |  |   |   | $ | 430 |  |   |
| NWP change (% year over year)                         | 13 |  | % |   | (22 | ) | % |   | 6 |  | % |   | (7 | ) | % |
| Net operating income (loss)                           | $ | 10 |  |   |   | $ | (27 | ) |   |   | $ | 30 |  |   |   | $ | (21 | ) |   |
| Net income (loss)                                     | 16 |  |   |   | (24 | ) |   |   | 41 |  |   |   | (15 | ) |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 63.8 |  | % |   | 76.5 |  | % |   | 61.7 |  | % |   | 69.0 |  | % |
| Effect of catastrophe impacts                         | (0.5 | ) |   |   | 10.6 |  |   |   | 0.6 |  |   |   | 6.3 |  |   |
| Effect of development-related items                   | (0.5 | ) |   |   | (7.3 | ) |   |   | (1.7 | ) |   |   | (4.8 | ) |   |
| Loss ratio                                            | 62.8 |  | % |   | 79.8 |  | % |   | 60.6 |  | % |   | 70.5 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 100.1 |  | % |   | 118.6 |  | % |   | 97.7 |  | % |   | 108.8 |  | % |
| Combined ratio excluding catastrophes and development | 101.1 |  | % |   | 115.3 |  | % |   | 98.8 |  | % |   | 107.3 |  | % |

|         |                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating results improved $37 million for the second quarter of 2017 as compared with the prior year quarter, driven by improved underwriting results and the favorable period over period effect of foreign currency exchange gains and losses. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 18.5 points and the combined ratio excluding catastrophes and development improved 14.2 points as compared with the prior year quarter.  The loss ratio improved 17.0 points, primarily due to an improved current accident year loss ratio driven by a lower level of large and catastrophe losses, partially offset by lower favorable net prior year loss reserve development.  There were no catastrophe losses in the second quarter of 2017 as compared to $21 million, or 10.6 points of the loss ratio, for the prior year quarter.  The expense ratio improved 1.5 points in the current quarter, primarily due to higher net earned premiums. |

|         |                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $25 million for the second quarter of 2017 as compared with the prior year quarter.  Renewal premium change was 4% driven by exposure growth as average rate was flat, and retention improved to 78%.  New business was also higher in the quarter. |

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|                             |
|-----------------------------|
|                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                        | Results for the Three Months Ended June 30 |   | Results for the Six Months Ended June 30 |
| ($ millions)                | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Total operating revenues    | $ | 330 |  |   |   | $ | 327 |  |   |   | $ | 661 |  |   |   | $ | 645 |  |   |
| Net investment income       | 195 |  |   |   | 188 |  |   |   | 392 |  |   |   | 375 |  |   |
| Net operating income (loss) | 5 |  |   |   | (4 | ) |   |   | 9 |  |   |   | (6 | ) |   |
| Net income (loss)           | 9 |  |   |   | (9 | ) |   |   | 19 |  |   |   | (14 | ) |   |

|         |                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating results improved $9 million for the second quarter of 2017 as compared with the prior year quarter driven by improved long term care morbidity. |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  | Results for the Three Months Ended June 30 |   | Results for the Six Months Ended June 30 |
| ($ millions)          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net investment income | $ | 4 |  |   |   | $ | 4 |  |   |   | $ | 9 |  |   |   | $ | 7 |  |   |
| Interest expense      | 39 |  |   |   | 38 |  |   |   | 77 |  |   |   | 80 |  |   |
| Net operating loss    | (27 | ) |   |   | (24 | ) |   |   | (64 | ) |   |   | (138 | ) |   |
| Net loss              | (26 | ) |   |   | (21 | ) |   |   | (61 | ) |   |   | (141 | ) |   |

|         |                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating loss increased $3 million for the second quarter of 2017 as compared with the same period in 2016 driven by lower recognition of retroactive reinsurance deferred gain due to lower net asbestos and environmental pollution claim payments. |

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