Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 183

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 183
---
.9 billion and $3.3 billion related to property business that is 100% reinsured under a significant third party captive program. The third party captives that participate in this program are affiliated with the non-insurance company policyholders, therefore this program provides a means for the policyholders to self-insure this property risk. CNA receives and retains a ceding commission.Insurance claims and policyholders’ benefits reported on the Consolidated Statements of Operations are net of estimated reinsurance recoveries of $3.5 billion, $2.8 billion and $2.6 billion for the years ended December 31, 2024, 2023 and 2022, including $1.7 billion, $1.5 billion and $1.8 billion related to the significant third party captive program discussed above.Long-term care premiums are from long-duration contracts; property and casualty premiums are from short-duration contracts.