CNA Financial sells SUR Insurance Agency and The Bond Exchange to CCIS CNA Financial announced that it has completed the sale of SUR Insurance Agency and The Bond Exchange to California Contractors Insurance Services, or CCIS, effective December 14. Western Surety, a wholly owned subsidiary of CNA and seller of SUR Insurance Agency, will retain certain of the business lines that were previously sourced from SUR. This business will be transitioned to CNA Solutions, an insurance agency and wholly owned subsidiary of CNA. CNA will continue to offer CNA Solutions as an alternative for placing business for agents and brokers who lack specific state licenses.
CNA Financial upgraded to Outperform from Neutral at Macquarie Macquarie upgraded CNA Financial to Outperform with a $43 price target given improving underwriting profitability in its commercial lines segment and improving market conditions.