CONSOLIDATED SUBSIDIARY OVERVIEW
CHICAGO, Dec. 16, 2015 /PRNewswire/ -- CNA today announced that it is relocating its Chicago-based, global headquarters from 333 South Wabash Avenue to 151 North Franklin Street, which is expected to take place in the summer of 2018. Construction on 151 North Franklin is underway. The new prestigious Class A building will be known as CNA Center, and CNA's name will be on the top and in front of the building.
"CNA will be the named anchor tenant at 151 North Franklin, and we look forward to building on our legacy as a major insurance carrier headquartered in the Chicago loop," said Thomas F. Motamed, chairman and chief executive officer, CNA Financial Corp.
"CNA's decision to reaffirm its longstanding commitment to Chicago speaks to the strength of our talented workforce and the strength of our economic future," said Mayor Rahm Emanuel. "CNA is part of our economic DNA and I look forward to cutting the ribbon on their new home in the city of Chicago."
A letter of intent was signed today with The John Buck Company, the real estate developer for 151 North Franklin. The John Buck Company is also an entity associated with the company that will acquire 333 South Wabash from CNA in early 2016. CNA will lease back its current space until the new building is complete.
"CNA has an unwavering commitment to maintaining a headquarters in the Chicago loop, as it has since 1900. Chicago is a premier location for corporate global headquarters, and we thank Mayor Emanuel for his vision and leadership on economic and workforce development. The iconic building we call 'Big Red' has served us well since 1972, and it will always be an important part of our history and legacy. Much has changed in the way we work over the past 40 years, and CNA Center at 151 North Franklin is designed specifically to meet our needs today and well into the future," Motamed added.
CNA was advised by Savills Studley on the analysis of locations to meet the company's strategic goals.
To learn more about CNA Center at 151 North Franklin in Chicago, please contact Brandon Davis at 312-822-5167 or 312-834-6091.
Serving businesses and professionals since 1897, CNA is the country's eighth largest commercial insurance writer and the 14th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. "CNA" is a service mark registered by CNA Financial Corporation with the United States Patent and Trademark Office. Certain CNA Financial Corporation subsidiaries use the "CNA" service mark in connection with insurance underwriting and claims activities.
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CONTACT: Brandon Davis, 312-822-5167 / 312-834-6091Sarah Pang, 312-822-6394 / 312-607-5544