CHICAGO: CNA Financial Corp., a dollars 17.1 billion insurance company, is interviewing public relations firms for a major corporate reputation management campaign.
CHICAGO: CNA Financial Corp., a dollars 17.1 billion insurance
company, is interviewing public relations firms for a major corporate
reputation management campaign.
Company officials have been talking with prominent PR agencies for at
least two months. Firms in the hunt reportedly include la creme de la
creme of the global agencies: Burson-Marsteller, Hill & Knowlton,
Fleishman-Hillard, Ketchum and Edelman.
CNA would not comment on whether an agency search is underway, saying
only that it uses PR firms on a project basis and has no agency of
record at the moment. Regarding future PR plans, assistant vice
president for corporate public relations Kevin Barber said only, ’We
think this is competitive information and have no comment.’
However, sources told PRWeek that Karen Foley, group VP of corporate
development, has been heading the search for a PR firm. ’They’re going
rather slowly and methodically,’ said the source. ’They want to develop
a corporate brand that serves the disparate needs of their
While some pros pitching for the business expect a contract to be
awarded within weeks, others think the process could take longer. When a
deal is announced, it will likely be in the high six-figure range and
could even top dollars 1 million in PR fees. ’To achieve what they’re
talking about, I would say high six, low seven figures would be in the
ballpark,’ said the source.
The pitching process has been a protracted one. Some agencies have been
asked to make presentations in front of as many as eight different CNA
officials. As of mid-July, the presentations had not been concluded.
CNA has been refocusing its business in recent months. In June, it sold
its personal insurance lines business for dollars 140 million to Chicago
neighbor Allstate. Allstate promptly set up a new entity, CNA Personal
Insurance, to manage the business as a separate dollars 1.7 billion
’We’ve been clear that our strategy is to sharpen our focus in those
businesses where we are now or where we can become a market leader,’ CNA
CEO Bernard L. Hengesbaugh said at the time of the sale. CNA’s core
products are in the commercial and specialty property-casualty
THE TOP FIVE US LIFE INSURANCE FIRMS
1 CNA dollars 147,280,000
2 Primerica dollars 143,463,085
3 Northwestern Mutual dollars 104,159,919
4 Metropolitan dollars 93,827,143
5 Allstate dollars 67,821,752
Total premiums written in 1997, supplied by Best’s Review
1998 Policy Report.