CNA has begun searching for a new mhief financial officer. The Chicago-based property/casualty insurer said that Al Miralles, its current executive vice president/CFO has resigned, with plans to leave the insurance industry and transition to a career in the technology sector.
Larry Haefner, CNA’s former Chief Actuary, will serve as interim CFO as the organization searches for a permanent replacement. The company said Haefner is a 13-year CNA veteran who previously worked closely with the company’s finance team and has “proven expertise” in the P/C insurance business.
Plans call for Miralles to stay on util September to work with Haefner on transition responsibilities. CNA’s search for a permanent replacement will focus on finding “an experienced executive” who can take on the CFO job immediately, according to the company.
Miralles has been with CNA for more than 10 years.
CNA reported $368 million in net income for the 2021 second quarter, or $1.35 per share, compared to $151 million, or $0.55 per share, in the 2020 second quarter. Gains stemmed in large part from lower net catastrophe losses, improved non-catastrophe current accident year underwriting results and continued double-digit rate hikes.