Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 381

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 381
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 private credit, growth capital and distressed investing. Hedge fund strategies include both long and short positions in fixed income, equity and derivative instruments. Within hedge fund strategies, approximately 100% were equity related, none pursued a multi-strategy approach and none were focused on distressed investments at December 31, 2024.For a discussion of the valuation methodologies used to measure fixed maturity securities, equities and short-term investments, see Note 4.Other postretirement benefits plan assets measured at fair value on a recurring basis are summarized below.December 31, 2024Level 1Level 2Level 3Total(In millions)       Fixed maturity securities:   Corporate and other bonds$48 $48 States, municipalities and political subdivisions35 35 Asset-backed1 1 Total fixed maturities$— 84 $— 84 Short-term investments2 2 Fixed income mutual funds15 15 Total assets$17 $84 $— $101 Other liabilities$18 $18 

152

December 31, 2023Level 1Level 2Level 3Total (In millions)   Fixed maturity securities:   Corporate and other bonds$67 $67 States, municipalities and political subdivisions39 39 Asset-backed1 1 Total fixed maturities$— 107 $— 107 Short-term investments13 13 Fixed income mutual funds2 2 Total$15 $107 $— $122 Other liabilities$39 $39 There were no Level 3 assets at December 31, 2024 and 2023.Savings Plans – Several contributory savings plans are maintained which allow employees to make regular contributions based upon a percentage of their salaries. Matching contributions are made up to specified percentages of employees’ contributions. In addition, in certain plans, eligible employees also receive a contribution of a percentage of their annual eligible compensation. Employer contributions to these plans amounted to $110 million, $103 million and $90 million for the years ended December 31, 2024, 2023 and 2022.Stock-based Compensation – In 2016, shareholders approved the Loews Corporation 2016 Incentive Compensation Plan (the “2016 Loews Plan”) which replaced a previously existing equity plan. The aggregate number of shares of Loews Corporation common stock authorized under the 2016 Loews Plan is 6,000,000 shares, plus up to