Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 97

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 significant estimation risk. As a result of this variability, CNA’s future policy benefits reserves may be subject to material increases if actual experience develops adversely to its expectations.For further information on the long-term care reserving process see Note 1 of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

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The following table summarizes balances and changes in the LFPB:20252024(In millions)Present value of future net premiumsBalance, January 1$3,425 $3,710 Effect of changes in discount rate(7)(125)Balance, January 1, at original locked in discount rate3,418 3,585 Effect of changes in cash flow assumptions (a)Effect of actual variances from expected experience (a)(1)(29)Adjusted balance, January 13,417 3,556 Interest accrual88 92 Net premiums: earned during period(203)(212)Balance, end of period at original locked in discount rate3,302 3,436 Effect of changes in discount rate50 11 Balance, June 30$3,352 $3,447 Present value of future benefits & expensesBalance, January 1$16,583 $17,669 Effect of changes in discount rate440 (578)Balance, January 1, at original locked in discount rate17,023 17,091 Effect of changes in cash flow assumptions (a)Effect of actual variances from expected experience (a)22 11 Adjusted balance, January 117,045 17,102 Interest accrual458 461 Benefit & expense payments(574)(592)Balance, end of period at original locked in discount rate16,929 16,971 Effect of changes in discount rate(248)(313)Balance, June 30$16,681 $16,658 Net LFPB, June 30$13,329 $13,211 (a)As of June 30, 2025 and 2024, the re-measurement loss of $23 million and $40 million presented parenthetically on the Consolidated Condensed Statement of Operations is comprised of the effect of changes in cash flow assumptions and the effect of actual variances from expected experience. 

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The following table presents earned premiums and interest accretion associated with the long-term care business recognized on the Condensed Consolidated