UNITED STATES


                             Washington, D.C. 20549

                                  FORM 8-K

                              CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported)             May 17, 2004


                            CNA FINANCIAL CORPORATION

            (Exact name of registrant as specified in its charter)

               DELAWARE                  1-5823              36-6169860
     (State or Other Jurisdiction      (Commission         (IRS Employer
           of Incorporation)           File Number)      Identification No.)

       CNA PLAZA, CHICAGO, ILLINOIS                             60685
(Address of Principal Executive Offices)                     (Zip Code)

Registrant's telephone number, including area code         (312) 822-5000

                                 Not Applicable
         (Former Name or Former Address, if Changed Since Last Report)


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Item 7.  Financial Statements and Exhibits

(c)  Exhibits:

Exhibit No.    Description
-----------    -----------

99.1           CNA Financial Corporation press release, issued May 17,

Item 9.  Regulation FD Disclosure

On May 17, 2004 Registrant issued a press release announcing that it has entered
into a definitive agreement to sell the assets of CNA Trust to Union Bank of
California. The press release is furnished as Exhibit 99.1 to this Form 8-K.

The information in this Current Report is being furnished and shall not be
deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that Section. The
information in this Current Report shall not be incorporated by reference into
any registration statement or other document pursuant to the Securities Act of
1933, as amended.


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                          CNA FINANCIAL CORPORATION

Dated:  May 17, 2004                   /s/ Robert V. Deutsch
                                      By:  Robert V. Deutsch
                                      Its: Executive Vice President and
                                           Chief Financial Officer

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