Stockholders' Equity

6 Months Ended

Jun. 30, 2026

Stockholders' Equity and Statutory Accounting Practices [Abstract]

Common Stock Repurchases

The Company repurchased 755,000 and 700,000 shares of CNAF common stock at an aggregate cost of $36 million and $34 million during the six months ended June 30, 2026 and 2025.

Stock-Based Compensation

The Company issued 681,938 and 483,357 shares of CNAF common stock to settle employee stock-based compensation awards under the CNAF Incentive Compensation Plan during the six months ended June 30, 2026 and 2025.

Accumulated Other Comprehensive Income (Loss)

The tables below display the changes in Accumulated other comprehensive income (loss) by component.


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts		Cumulative foreign currency translation adjustment		Total


Balance as of April 1, 2026	$	(22)	$	(1,413)	$	(165)	$	406	$	(155)	$	(1,349)
Other comprehensive income (loss) before reclassifications	(3)		186		(2)		(34)		(22)		125
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $1, $1, $1, $—, $—, and $3	(2)		(4)		(2)		—		—		(8)
Other comprehensive income (loss) net of tax (expense) benefit of $—, $(51), $—, $9, $—, and $(42)	(1)		190		—		(34)		(22)		133
Balance as of June 30, 2026	$	(23)	$	(1,223)	$	(165)	$	372	$	(177)	$	(1,216)


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts		Cumulative foreign currency translation adjustment		Total


Balance as of April 1, 2025	$	(16)	$	(1,593)	$	(189)	$	239	$	(226)	$	(1,785)
Other comprehensive income (loss) before reclassifications	(5)		42		—		(3)		128		162
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $2, $10, $1, $—, $—, and $13	(6)		(30)		(1)		—		—		(37)
Other comprehensive income (loss) net of tax (expense) benefit of $—, $(22), $(1), $—, $—, and $(23)	1		72		1		(3)		128		199
Balance as of June 30, 2025	$	(15)	$	(1,521)	$	(188)	$	236	$	(98)	$	(1,586)


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts		Cumulative foreign currency translation adjustment		Total


Balance as of January 1, 2026	$	(15)	$	(988)	$	(166)	$	192	$	(121)	$	(1,098)
Other comprehensive income (loss) before reclassifications	(15)		(245)		(2)		180		(56)		(138)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $2, $3, $1, $—, $— and $6	(7)		(10)		(3)		—		—		(20)
Other comprehensive income (loss) net of tax (expense) benefit of $2, $64, $—, $(48), $— and $18	(8)		(235)		1		180		(56)		(118)
Balance as of June 30, 2026	$	(23)	$	(1,223)	$	(165)	$	372	$	(177)	$	(1,216)


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts		Cumulative foreign currency translation adjustment		Total


Balance as of January 1, 2025	$	(13)	$	(1,876)	$	(191)	$	353	$	(264)	$	(1,991)
Other comprehensive income (loss) before reclassifications	(10)		319		—		(117)		166		358
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $2, $11, $1, $—, $—, and $14	(8)		(36)		(3)		—		—		(47)
Other comprehensive income (loss) net of tax (expense) benefit of $1, $(96), $(1), $31, $—, $(65)	(2)		355		3		(117)		166		405
Balance as of June 30, 2025	$	(15)	$	(1,521)	$	(188)	$	236	$	(98)	$	(1,586)

Amounts reclassified from Accumulated other comprehensive income (loss) shown above are reported in Net income (loss) as follows:


Component of AOCI						Condensed Consolidated Statements of Operations Line Item Affected by Reclassifications
Net unrealized gains (losses) on investments with an allowance for credit losses and Net unrealized gains (losses) on other investments						Net investment gains (losses)
Pension and postretirement benefits						Other operating expenses and Insurance claims and policyholders' benefits