----

|                                 |
|---------------------------------|
|                                 |  |  |
| MEDIA:                          |   | ANALYSTS: |
| Jennifer Martinez, 312/822-5167 |   | James Anderson, 312/822-7757 |
| Sarah Pang, 312/822-6394        |   | Derek Smith, 312/822-6612 |
|                            |   | David Adams, 312/822-2183 |

|         |                                                                        |
|---------|------------------------------------------------------------------------|
| • | Q4 NOI OF $0.79 PER SHARE; $1.24 ADJUSTED FOR RETRO REINSURANCE CHARGE |

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | EXCLUDING CHARGE, 2013 NOI OF $1.04 BILLION GENERATING OPERATING ROE OF 8.7% |

|         |                                                                 |
|---------|-----------------------------------------------------------------|
| • | 2013 P&C COMBINED RATIO OF 97.9%, AN IMPROVEMENT OF 7.1 PTS |

|         |                                                           |
|---------|-----------------------------------------------------------|
| • | BOOK VALUE PER SHARE EX AOCI OF $45.26, UP 6% IN 2013 |

|         |                                                                             |
|---------|-----------------------------------------------------------------------------|
| • | SPECIAL DIVIDEND OF $1.00 PER SHARE PLUS 25% INCREASE TO QUARTERLY DIVIDEND |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | Results for the Three Months Ended December 31 (a) |   |   | Results for the Year Ended December 31 (a) |   |
| ($ millions, except per share data) | 2013 |   |   | 2012 |   |   | 2013 |   |   | 2012 |   |
| Net operating income:               |   |   |   |   |   |   |   |   |   |   |   |
| Net operating income, adjusted      | $ | 336 |  |   |   | $ | (7 | ) |   |   | $ | 1,040 |  |   |   | $ | 587 |  |   |
| Retro reinsurance charge            | (123 | ) |   |   | — |  |   |   | (123 | ) |   |   | — |  |   |
| Net operating income (loss)         | $ | 213 |  |   |   | $ | (7 | ) |   |   | $ | 917 |  |   |   | $ | 587 |  |   |
| Net income (loss)                   | $ | 221 |  |   |   | $ | (9 | ) |   |   | $ | 937 |  |   |   | $ | 628 |  |   |
|                                |   |   |   |   |   |   |   |   |   |   |   |
| Earnings (loss) per diluted share:  |   |   |   |   |   |   |   |   |   |   |   |
| Net operating income, adjusted      | $ | 1.24 |  |   |   | $ | (0.03 | ) |   |   | $ | 3.85 |  |   |   | $ | 2.18 |  |   |
| Retro reinsurance charge            | (0.45 | ) |   |   | — |  |   |   | (0.45 | ) |   |   | — |  |   |
| Net operating income (loss)         | $ | 0.79 |  |   |   | $ | (0.03 | ) |   |   | $ | 3.40 |  |   |   | $ | 2.18 |  |   |
| Net income (loss)                   | $ | 0.82 |  |   |   | $ | (0.03 | ) |   |   | $ | 3.47 |  |   |   | $ | 2.33 |  |   |
|                                |   |   |   |   |   |   |   |   |   |   |   |
|                                | December 31, |   |   | December 31, |   |   |   |   |   |   |   |
|                                | 2013 |   |   | 2012 |   |   | Change |   |   |   |   |
| Book value per share                | $ | 46.91 |  |   |   | $ | 45.71 |  |   |   | 3% |  |   |   |   |   |
| Book value per share excluding AOCI | 45.26 |  |   |   | 42.62 |  |   |   | 6% |  |   |   |   |   |

|     |                                                                                                                                                                                                                                                                |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | Management utilizes the net operating income financial measure to monitor the Company's operations.  Please refer to Note K in the Condensed Consolidated Financial Statements within the September 30, 2013 Form 10-Q for further discussion of this measure. |

----

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Net written premiums                                  | $ | 1,684 |  |   |   | $ | 1,609 |  |   |   | $ | 6,799 |  |   |   | $ | 6,414 |  |   |
| NWP Growth (% year over year)                         | 5 |  | % |   | 7 |  | % |   | 6 |  | % |   | 3 |  | % |
| Net operating income                                  | $ | 340 |  |   |   | $ | 60 |  |   |   | $ | 1,185 |  |   |   | $ | 758 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 61.3 |  | % |   | 68.3 |  | % |   | 63.8 |  | % |   | 67.7 |  | % |
| Effect of catastrophe impacts                         | 1.3 |  |   |   | 16.7 |  |   |   | 2.6 |  |   |   | 6.4 |  |   |
| Effect of development-related items                   | (0.6 | ) |   |   | (4.1 | ) |   |   | (1.8 | ) |   |   | (3.3 | ) |   |
| Loss ratio                                            | 62.0 |  | % |   | 80.9 |  | % |   | 64.6 |  | % |   | 70.8 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 95.0 |  | % |   | 116.1 |  | % |   | 97.9 |  | % |   | 105.0 |  | % |
| Combined ratio excluding catastrophes and development | 94.3 |  | % |   | 103.2 |  | % |   | 97.1 |  | % |   | 101.9 |  | % |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Net written premiums                                  | $ | 754 |  |   |   | $ | 718 |  |   |   | $ | 3,091 |  |   |   | $ | 2,924 |  |   |
| NWP Growth (% year over year)                         | 5 |  | % |   | 3 |  | % |   | 6 |  | % |   | 2 |  | % |
| Net operating income                                  | $ | 232 |  |   |   | $ | 130 |  |   |   | $ | 707 |  |   |   | $ | 504 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 59.8 |  | % |   | 68.4 |  | % |   | 64.0 |  | % |   | 67.7 |  | % |
| Effect of catastrophe impacts                         | 0.2 |  |   |   | 1.4 |  |   |   | 0.8 |  |   |   | 0.6 |  |   |
| Effect of development-related items                   | (13.1 | ) |   |   | (8.0 | ) |   |   | (8.1 | ) |   |   | (5.1 | ) |   |
| Loss ratio                                            | 46.9 |  | % |   | 61.8 |  | % |   | 56.7 |  | % |   | 63.2 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 77.4 |  | % |   | 93.9 |  | % |   | 86.9 |  | % |   | 94.8 |  | % |
| Combined ratio excluding catastrophes and development | 90.3 |  | % |   | 100.5 |  | % |   | 94.2 |  | % |   | 99.3 |  | % |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $36 million for the fourth quarter of 2013 as compared with the prior year quarter.  This increase was driven by increased rate.  Average rate increased 5% for the fourth quarter of 2013 as compared with an increase of 6% for the prior year quarter for the policies that renewed in each period.  Retention of 85% and 86% was achieved in each period. |

|         |                                                                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating income increased $102 million for the fourth quarter of 2013 as compared with the prior year quarter.  This increase was primarily due to improved underwriting results and higher net investment income. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 16.5 points for the fourth quarter of 2013 as compared with the prior year quarter.  The loss ratio improved 14.9 points, due to an improved current accident year loss ratio and higher favorable net prior year development. The expense ratio improved 1.5 points, due to the impact of a higher net earned premium base coupled with lower underwriting expenses. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Net written premiums                                  | $ | 808 |  |   |   | $ | 830 |  |   |   | $ | 3,312 |  |   |   | $ | 3,373 |  |   |
| NWP Growth (% year over year)                         | (3 | ) | % |   | 3 |  | % |   | (2 | ) | % |   | 1 |  | % |
| Net operating income (loss)                           | $ | 100 |  |   |   | $ | (44 | ) |   |   | $ | 468 |  |   |   | $ | 277 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 65.2 |  | % |   | 69.6 |  | % |   | 66.0 |  | % |   | 68.6 |  | % |
| Effect of catastrophe impacts                         | 2.5 |  |   |   | 28.2 |  |   |   | 4.2 |  |   |   | 10.9 |  |   |
| Effect of development-related items                   | 11.5 |  |   |   | (1.2 | ) |   |   | 3.7 |  |   |   | (1.6 | ) |   |
| Loss ratio                                            | 79.2 |  | % |   | 96.6 |  | % |   | 73.9 |  | % |   | 77.9 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 111.8 |  | % |   | 132.7 |  | % |   | 108.3 |  | % |   | 113.5 |  | % |
| Combined ratio excluding catastrophes and development | 97.8 |  | % |   | 105.6 |  | % |   | 100.4 |  | % |   | 104.1 |  | % |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums decreased $22 million for the fourth quarter of 2013 as compared with the prior year quarter. This decrease was primarily driven by previous underwriting actions taken in certain business classes.  Average rate increased 7% for the fourth quarter of 2013 and 2012 for the policies that renewed in each period.  Retention of 74% and 78% was achieved in each period. |

|         |                                                                                                                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating results increased $144 million for the fourth quarter of 2013 as compared with the prior year quarter.  This increase was primarily due to improved current accident year underwriting results and higher net investment income.  These favorable impacts were partially offset by the unfavorable effect of net prior year development. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 20.9 points for the fourth quarter of 2013 as compared with the prior year quarter.  The loss ratio improved 17.4 points, primarily due to lower catastrophe losses and an improved current accident year non-catastrophe loss ratio, partially offset by the unfavorable impact of net prior year development.  The expense ratio improved 3.5 points, due to decreased expenses, including favorable changes in estimates of insurance assessment liabilities. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Net written premiums                                  | $ | 122 |  |   |   | $ | 61 |  |   |   | $ | 396 |  |   |   | $ | 117 |  |   |
| NWP growth (% year over year)                         | 100 |  | % |   |   |   |   | N/M |  | % |   |   |   |
| Net operating income (loss)                           | $ | 8 |  |   |   | $ | (26 | ) |   |   | $ | 10 |  |   |   | $ | (23 | ) |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 41.6 |  | % |   | 51.4 |  | % |   | 41.2 |  | % |   | 47.0 |  | % |
| Effect of catastrophe impacts                         | — |  |   |   | 37.0 |  |   |   | 1.3 |  |   |   | 17.3 |  |   |
| Effect of development-related items                   | (0.9 | ) |   |   | 2.8 |  |   |   | 2.3 |  |   |   | (4.0 | ) |   |
| Loss ratio                                            | 40.7 |  | % |   | 91.2 |  | % |   | 44.8 |  | % |   | 60.3 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 90.1 |  | % |   | 153.8 |  | % |   | 93.4 |  | % |   | 117.5 |  | % |
| Combined ratio excluding catastrophes and development | 91.0 |  | % |   | 105.8 |  | % |   | 89.8 |  | % |   | 100.1 |  | % |

|         |                                                                                   |
|---------|-----------------------------------------------------------------------------------|
| • | Hardy, a specialized Lloyd's of London underwriter, was acquired on July 2, 2012. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $61 million for the fourth quarter of 2013 as compared with the prior year quarter. This increase was primarily driven by Hardy having a larger share of Syndicate 382’s results for the 2013 year of account and the impact of a commutation of a third party capital provider's 15% share of the 2012 year of account.  Average rate decreased 4% for the fourth quarter of 2013 as compared to flat average rate for the prior year quarter for the policies that renewed in each period.  Retention of 63% was achieved in each period. |

|         |                                                                                                                                                                                               |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating income increased $34 million for the fourth quarter of 2013 as compared with the prior year quarter.  This increase was primarily due to improved underwriting results. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 63.7 points for the fourth quarter of 2013 as compared with the prior year quarter.  The loss ratio improved 50.5 points, primarily due to the unfavorable impact of Storm Sandy in 2012 and an improved non-catastrophe current accident year loss ratio. The expense ratio improved 13.2 points, primarily due to the higher net earned premium base. |

----

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                        | 2013 |   | 2012 |   | 2013 |   |   | 2012 |   |
| Operating revenues                  | $ | 346 |  |   |   | $ | 359 |  |   |   | $ | 1,387 |  |   |   | $ | 1,395 |  |   |
| Total claims, benefits and expenses | 355 |  |   |   | 457 |  |   |   | 1,576 |  |   |   | 1,617 |  |   |
| Net operating income (loss)         | 13 |  |   |   | (52 | ) |   |   | (58 | ) |   |   | (90 | ) |   |
|                                |   |   |   |   |   |   |   |   |   |   |   |
| Reserve strengthening (after-tax)   | — |  |   |   | 44 |  |   |   | — |  |   |   | 44 |  |   |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating results increased $65 million for the fourth quarter of 2013 as compared to the prior year quarter which included payout annuity and long term care reserve charges of $44 million after-tax.  Results for the fourth quarter of 2013 also were helped by a $22 million after-tax non-recurring benefit.  Additionally, the favorable effect of rate increase actions were substantially offset by unfavorable morbidity. |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                        | 2013 |   | 2012 |   | 2013 |   |   | 2012 |   |
| Operating revenues                  | $ | 9 |  |   |   | $ | 9 |  |   |   | $ | 39 |  |   |   | $ | 45 |  |   |
| Total claims, benefits and expenses | 229 |  |   |   | 36 |  |   |   | 367 |  |   |   | 167 |  |   |
| Net operating loss                  | (140 | ) |   |   | (15 | ) |   |   | (210 | ) |   |   | (81 | ) |   |

|         |                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net operating loss increased $125 million for the fourth quarter of 2013 as compared with the prior year quarter.  The increase was primarily driven by the unfavorable impact of the $123 million after-tax charge related to the LPT. |

----

| Net Operating Income (Loss)    |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                           |   | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                   |   | 2013 |   | 2012 |   | 2013 |   | 2012 |
| CNA Specialty                  |   | $ | 232 |  |   | $ | 130 |  |   | $ | 707 |  |   | $ | 504 |  |
| CNA Commercial                 |   | 100 |  |   | (44 | ) |   | 468 |  |   | 277 |  |
| Hardy                          |   | 8 |  |   | (26 | ) |   | 10 |  |   | (23 | ) |
| Total P&C Operations       |   | 340 |  |   | 60 |  |   | 1,185 |  |   | 758 |  |
| Life & Group Non-Core      |   | 13 |  |   | (52 | ) |   | (58 | ) |   | (90 | ) |
| Corporate & Other Non-Core |   | (140 | ) |   | (15 | ) |   | (210 | ) |   | (81 | ) |
| Total                          |   | $ | 213 |  |   | $ | (7 | ) |   | $ | 917 |  |   | $ | 587 |  |

| Net Income (Loss)              |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                           |   | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                   |   | 2013 |   | 2012 |   | 2013 |   | 2012 |
| CNA Specialty                  |   | $ | 231 |  |   | $ | 131 |  |   | $ | 705 |  |   | $ | 517 |  |
| CNA Commercial                 |   | 95 |  |   | (39 | ) |   | 459 |  |   | 304 |  |
| Hardy                          |   | 7 |  |   | (26 | ) |   | 11 |  |   | (24 | ) |
| Total P&C Operations       |   | 333 |  |   | 66 |  |   | 1,175 |  |   | 797 |  |
| Life & Group Non-Core      |   | 28 |  |   | (61 | ) |   | (34 | ) |   | (90 | ) |
| Corporate & Other Non-Core |   | (140 | ) |   | (14 | ) |   | (204 | ) |   | (79 | ) |
| Total                          |   | $ | 221 |  |   | $ | (9 | ) |   | $ | 937 |  |   | $ | 628 |  |

| Property & Casualty Operations Gross Written Premiums |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      |   | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                              |   | 2013 |   | 2012 |   | 2013 |   | 2012 |
| CNA Specialty                                             |   | $ | 1,364 |  |   | $ | 1,205 |  |   | $ | 5,344 |  |   | $ | 4,875 |  |
| CNA Commercial                                            |   | 844 |  |   | 873 |  |   | 3,559 |  |   | 3,588 |  |
| Hardy                                                     |   | 93 |  |   | 89 |  |   | 452 |  |   | 176 |  |
| Total P&C Operations                                  |   | $ | 2,301 |  |   | $ | 2,167 |  |   | $ | 9,355 |  |   | $ | 8,639 |  |

| Property & Casualty Operations Net Written Premiums |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                    |   | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                            |   | 2013 |   | 2012 |   | 2013 |   | 2012 |
| CNA Specialty                                           |   | $ | 754 |  |   | $ | 718 |  |   | $ | 3,091 |  |   | $ | 2,924 |  |
| CNA Commercial                                          |   | 808 |  |   | 830 |  |   | 3,312 |  |   | 3,373 |  |
| Hardy                                                   |   | 122 |  |   | 61 |  |   | 396 |  |   | 117 |  |
| Total P&C Operations                                |   | $ | 1,684 |  |   | $ | 1,609 |  |   | $ | 6,799 |  |   | $ | 6,414 |  |

----