Ltd. helped boost the net income of CNA Financial Corp.

The No. 2 US business insurer said yesterday its third-quarter operating profit rose a better-than-expected ten percent, as it paid out less in storm damage claims than the same quarter a year ago.

CNA, which is second only to American International Group among insurers of US companies, said its third-quarter net profit, which included $460 million in realised investment gains, rose to $550 million, or $3 per share, from $29 million, or 15 cents per share, a year earlier. The high level of realised investments gains was chiefly caused by the sale of stock in two investments, Global Crossing Ltd. and Canary Wharf Group Plc.

The Chicago-based company, which is majority-owned by Loews Corp., said third-quarter operating profits rose to $90 million, or 49 cents per share, from $82 million, or 43 cents per share, in the year-earlier quarter.

The results beat analysts' consensus forecast by a penny, as compiled by research firm First Call/Thomson Financial, which tracks Wall Street estimates.

Total property-casualty premiums fell nine percent to $1.65 billion, largely because of the sale of CNA's personal lines business to Allstate Corp.