29 unchanged sentences
The impact of a 100 basis point decrease would result in an increase in market value of $363 million and $368 million at December 31, 2023 and 2022.
−Removed: At December 31, 2022 and 2021, the impact of a 100 basis point increase in interest rates on variable rate debt, net of the effects of the swaps, would not increase interest expense.
+Added: At December 31, 2023 and 2022, the impact of a 100 basis point increase in interest rates on variable rate debt, net of the effects of the swaps, would result in a $2 million increase interest expense.
Equity Price Risk – We and our subsidiaries have exposure to equity price risk as a result of investments in equity securities and equity derivatives.
27 unchanged sentences
– short (62) 15
+Added: Options – purchased 1 35
Other invested assets 8
8 unchanged sentences
(In millions)
−Removed: Fixed maturities (a)
−Removed: $ 37,627 $ (2,603) $ (532)
+Added: Fixed maturities $ 40,425 $ (2,779) $ (638)
Equity securities 683 (14) $ (48)
4 unchanged sentences
Other derivatives 14 4 3 29
−Removed: (a) Shadow Adjustments related to life and group reserves would reduce the impact of the decrease in fixed maturity securities.
Trading portfolio:
15 unchanged sentences
(In millions)
−Removed: Fixed maturities (a)
−Removed: $ 44,373 $ (3,061) $ (530)
+Added: Fixed maturities $ 37,627 $ (2,603) $ (532)
Equity securities 674 (18) $ (46)
4 unchanged sentences
Other derivatives 21 6 2 42
−Removed: (a) Shadow Adjustments related to life and group reserves would reduce the impact of the decrease in fixed maturity securities.
+Added: Changes in discount rates used to measure CNA’s liability for future policyholder benefits (“LFPB”) would reduce the impact of the decrease in Fixed maturity securities within Other comprehensive income.
+Added: The carrying value of the LFPB was $14.0 billion and $13.5 billion as of December 31, 2023 and 2022.
+Added: The estimated decrease in the carrying value of the LFPB as of December 31, 2023 and 2022 due to an increase in yield rates of 100 basis points was $1.5 billion.
+Added: The change in the carrying value of the LFPB due to interest rate changes was estimated by discounting the expected future cash flows.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.