----

|                             |
|-----------------------------|
|                             |  |  |
| 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 CATASTROPHE LOSSES OF $191M AFTER-TAX INCLUDING REINSTATEMENTS |

|         |                                                                  |
|---------|------------------------------------------------------------------|
| • | NET INCOME OF $144M; $0.53 PER SHARE; NET INCOME ROE OF 4.7% |

|         |                                                                     |
|---------|---------------------------------------------------------------------|
| • | NET OPERATING INCOME OF $159M; $0.58 PER SHARE; NOI ROE OF 5.3% |

|         |                                                                                    |
|---------|------------------------------------------------------------------------------------|
| • | P&C COMBINED RATIO EX CATASTROPHES & DEVELOPMENT OF 94.6% VS 97.5% IN 2016 |

|         |                                                                          |
|---------|--------------------------------------------------------------------------|
| • | QUARTERLY DIVIDEND OF $0.30 PER SHARE; $2.80 PER SHARE PAID YEAR TO DATE |

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                       | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions, except per share data)        | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net operating income (a)                   | $ | 159 |  |   | $ | 311 |  |   | $ | 633 |  |   | $ | 603 |  |
| Net realized investment (losses) gains (b) | (15 | ) |   | 32 |  |   | 43 |  |   | 15 |  |
| Net income                                 | $ | 144 |  |  | $ | 343 |  |  | $ | 676 |  |  | $ | 618 |  |
|                                       |   |   |   |   |   |   |   |
| Net operating income per diluted share     | $ | 0.58 |  |   | $ | 1.15 |  |   | $ | 2.33 |  |   | $ | 2.22 |  |
| Net income per diluted share               | 0.53 |  |   | 1.26 |  |   | 2.48 |  |   | 2.28 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                | September 30, 2017 |   | December 31, 2016 |
| Book value per share                | $ | 44.88 |  |   | $ | 44.25 |  |
| Book value per share excluding AOCI | 44.48 |  |   | 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. |

|     |                                                                                                                                                                                          |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | The after-tax net realized investment loss in the current year quarter included a $27 million loss on the early redemption of the Company's $350 million senior notes due November 2019. |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 1,599 |  |   |   | $ | 1,624 |  |   |   | $ | 4,933 |  |   |   | $ | 4,917 |  |   |
| NWP change (% year over year)                         | (2 | ) | % |   | 6 |  | % |   | — |  | % |   | 2 |  | % |
| Net investment income                                 | $ | 308 |  |   |   | $ | 328 |  |   |   | $ | 927 |  |   |   | $ | 883 |  |   |
| Net operating income                                  | 167 |  |   |   | 329 |  |   |   | 696 |  |   |   | 765 |  |   |
| Net income                                            | 176 |  |   |   | 349 |  |   |   | 750 |  |   |   | 779 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 60.8 |  | % |   | 61.8 |  | % |   | 61.1 |  | % |   | 62.6 |  | % |
| Effect of catastrophe impacts                         | 16.5 |  |   |   | 1.0 |  |   |   | 7.3 |  |   |   | 2.8 |  |   |
| Effect of development-related items                   | (7.4 | ) |   |   | (8.1 | ) |   |   | (4.5 | ) |   |   | (6.0 | ) |   |
| Loss ratio                                            | 69.9 |  | % |   | 54.7 |  | % |   | 63.9 |  | % |   | 59.4 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 103.7 |  | % |   | 90.4 |  | % |   | 98.2 |  | % |   | 94.6 |  | % |
| Combined ratio excluding catastrophes and development | 94.6 |  | % |   | 97.5 |  | % |   | 95.4 |  | % |   | 97.8 |  | % |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 705 |  |   |   | $ | 733 |  |   |   | $ | 2,100 |  |   |   | $ | 2,108 |  |   |
| NWP change (% year over year)                         | (4 | ) | % |   | 4 |  | % |   | — |  | % |   | 1 |  | % |
| Net operating income                                  | $ | 180 |  |   |   | $ | 195 |  |   |   | $ | 470 |  |   |   | $ | 486 |  |   |
| Net income                                            | 183 |  |   |   | 201 |  |   |   | 486 |  |   |   | 487 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 61.2 |  | % |   | 62.5 |  | % |   | 61.5 |  | % |   | 62.5 |  | % |
| Effect of catastrophe impacts                         | 5.4 |  |   |   | 0.2 |  |   |   | 2.3 |  |   |   | 0.7 |  |   |
| Effect of development-related items                   | (15.8 | ) |   |   | (15.9 | ) |   |   | (8.3 | ) |   |   | (10.6 | ) |   |
| Loss ratio                                            | 50.8 |  | % |   | 46.8 |  | % |   | 55.5 |  | % |   | 52.6 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 82.3 |  | % |   | 79.9 |  | % |   | 87.4 |  | % |   | 84.9 |  | % |
| Combined ratio excluding catastrophes and development | 92.7 |  | % |   | 95.6 |  | % |   | 93.4 |  | % |   | 94.8 |  | % |

|         |                                                                                                                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating income decreased $15 million for the third quarter of 2017 as compared with the prior year quarter, primarily due to higher net catastrophe losses partially offset by improved non-catastrophe current accident year underwriting results. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 2.4 points, while the combined ratio excluding catastrophes and development improved 2.9 points, as compared with the prior year quarter.  The loss ratio increased 4.0 points driven by higher net catastrophe losses which were $38 million, or 5.4 points of the loss ratio in the third quarter of 2017, as compared to $1 million, or 0.2 points of the loss ratio, for the prior year quarter.  The loss ratio excluding catastrophes and development improved 1.3 points.  The expense ratio improved 1.2 points as compared with the prior year quarter reflecting both our ongoing efforts to improve productivity and the actions undertaken in last year's third and fourth quarters to reduce expenses. |

|         |                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums decreased $28 million as compared with the prior year quarter largely driven by the timing of certain renewals.  Renewal premium change was flat.  Retention remained strong at 89% and new business was at relatively consistent levels. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 687 |  |   |   | $ | 684 |  |   |   | $ | 2,169 |  |   |   | $ | 2,172 |  |   |
| NWP change (% year over year)                         | — |  | % |   | 7 |  | % |   | — |  | % |   | 3 |  | % |
| Net operating income                                  | $ | 25 |  |   |   | $ | 114 |  |   |   | $ | 234 |  |   |   | $ | 280 |  |   |
| Net income                                            | 28 |  |   |   | 123 |  |   |   | 258 |  |   |   | 282 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 59.9 |  | % |   | 61.1 |  | % |   | 60.5 |  | % |   | 61.4 |  | % |
| Effect of catastrophe impacts                         | 23.9 |  |   |   | 1.6 |  |   |   | 11.1 |  |   |   | 4.6 |  |   |
| Effect of development-related items                   | (1.4 | ) |   |   | (0.5 | ) |   |   | (1.5 | ) |   |   | (1.4 | ) |   |
| Loss ratio                                            | 82.4 |  | % |   | 62.2 |  | % |   | 70.1 |  | % |   | 64.6 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 117.2 |  | % |   | 99.8 |  | % |   | 105.9 |  | % |   | 101.7 |  | % |
| Combined ratio excluding catastrophes and development | 94.7 |  | % |   | 98.7 |  | % |   | 96.3 |  | % |   | 98.5 |  | % |

|         |                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating income decreased $89 million for the third quarter of 2017 as compared with the prior year quarter driven by higher net catastrophe losses. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 17.4 points and the combined ratio excluding catastrophes and development improved 4.0 points as compared with the prior year quarter.  The loss ratio increased 20.2 points driven by higher net catastrophe losses partially offset by improved non-catastrophe current accident year underwriting results.  Net catastrophe losses were $173 million, or 23.9 points of the loss ratio, in the third quarter of 2017 as compared to $12 million, or 1.6 points of the loss ratio, for the prior year quarter.  Catastrophe-related reinsurance reinstatement premium was $1 million for the third quarter of 2017.  The loss ratio excluding catastrophes and development improved 1.2 points.  The expense ratio improved 2.8 points as compared with the prior year quarter reflecting both our ongoing efforts to improve productivity and the actions undertaken in last year's third and fourth quarters to reduce expenses. |

|         |                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $3 million as compared with the prior year quarter, driven by higher new business within Middle Markets, as well as strong retention of 85% and positive renewal premium change. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 207 |  |   |   | $ | 207 |  |   |   | $ | 664 |  |   |   | $ | 637 |  |   |
| NWP change (% year over year)                         | — |  | % |   | 15 |  | % |   | 4 |  | % |   | (1 | ) | % |
| Net operating (loss) income                           | $ | (38 | ) |   |   | $ | 20 |  |   |   | $ | (8 | ) |   |   | $ | (1 | ) |   |
| Net (loss) income                                     | (35 | ) |   |   | 25 |  |   |   | 6 |  |   |   | 10 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 62.4 |  | % |   | 61.9 |  | % |   | 62.0 |  | % |   | 66.5 |  | % |
| Effect of catastrophe impacts                         | 27.5 |  |   |   | 1.5 |  |   |   | 10.3 |  |   |   | 4.7 |  |   |
| Effect of development-related items                   | (1.5 | ) |   |   | (8.0 | ) |   |   | (1.7 | ) |   |   | (6.0 | ) |   |
| Loss ratio                                            | 88.4 |  | % |   | 55.4 |  | % |   | 70.6 |  | % |   | 65.2 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 125.9 |  | % |   | 93.2 |  | % |   | 107.8 |  | % |   | 103.4 |  | % |
| Combined ratio excluding catastrophes and development | 99.9 |  | % |   | 99.7 |  | % |   | 99.2 |  | % |   | 104.7 |  | % |

|         |                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating results decreased $58 million for the third quarter of 2017 as compared with the prior year quarter driven by higher net catastrophe losses and lower favorable net prior year loss reserve development. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 32.7 points and the combined ratio excluding catastrophes and development increased 0.2 points as compared with the prior year quarter.  The loss ratio increased 33.0 points driven by higher net catastrophe losses and lower favorable net prior year loss reserve development.  Net catastrophe losses were $58 million, or 27.5 points of the loss ratio in the third quarter of 2017 as compared to $3 million, or 1.5 points of the loss ratio, for the prior year quarter.  Catastrophe-related reinsurance reinstatement premium was $5 million for the third quarter of 2017.  The loss ratio excluding catastrophes and development was 0.5 points higher than the prior year quarter.  The expense ratio improved 0.3 points as compared with the prior year quarter. |

|         |                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------|
| • | Net written premiums for the third quarter of 2017 were consistent as compared with the prior year quarter. |

----

|                          |
|--------------------------|
|                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                     | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)             | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Total operating revenues | $ | 331 |  |   |   | $ | 322 |  |   |   | $ | 992 |  |   |   | $ | 967 |  |   |
| Net investment income    | 195 |  |   |   | 192 |  |   |   | 587 |  |   |   | 567 |  |   |
| Net operating income     | 10 |  |   |   | 6 |  |   |   | 19 |  |   |   | — |  |   |
| Net income               | 12 |  |   |   | 17 |  |   |   | 31 |  |   |   | 3 |  |   |

|         |                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating income improved $4 million for the third quarter of 2017 as compared with the prior year quarter.  Our long term care business continued to produce results generally in line with our 2015 reset assumptions. |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net investment income | $ | 6 |  |   |   | $ | 4 |  |   |   | $ | 15 |  |   |   | $ | 11 |  |   |
| Interest expense      | 39 |  |   |   | 39 |  |   |   | 116 |  |   |   | 119 |  |   |
| Net operating loss    | (18 | ) |   |   | (24 | ) |   |   | (82 | ) |   |   | (162 | ) |   |
| Net loss              | (44 | ) |   |   | (23 | ) |   |   | (105 | ) |   |   | (164 | ) |   |

|         |                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------|
| • | Net operating loss improved $6 million for the third quarter of 2017 as compared with the same period in 2016. |

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