CNA Financial Corp., founded in 1897 as Continental Casualty Co., is a holding company for commercial and casualty insurance companies. CNA is 89% owned by Loews Corp., a holding company that also operates in the hotels and energy sectors.
Like many insurance companies, CNA was hit hard by the global financial crisis, but its parent, Loews, injected $1.25 billion in capital into the company in October 2008 to shore up its finances.
CNA was in the news again in early 2009 when it filed a lawsuit against its former CFO, Peter E. Jokiel, who left CNA in 2001. The company claims that Jokiel owes it $2.8 million.