Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 19

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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,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)5 (28)Adjusted balance, January 13,423 3,557 Interest accrual44 47 Net premiums: earned during period(101)(107)Balance, end of period at original locked in discount rate3,366 3,497 Effect of changes in discount rate38 56 Balance, March 31$3,404 $3,553 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)13 (13)Adjusted balance, January 117,036 17,078 Interest accrual229 231 Benefit & expense payments(293)(321)Balance, end of period at original locked in discount rate16,972 16,988 Effect of changes in discount rate(264)78 Balance, March 31$16,708 $17,066 Net LFPB, March 31$13,304 $13,513 (a)As of March 31, 2025 and 2024, the re-measurement loss of $8 million and $15 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. 

22

The following table presents earned premiums and interest accretion associated with the long-term care business recognized on the Condensed Consolidated Statement of Operations.Three Months Ended March 3120252024(In millions)   Earned premiums$106 $110 Interest accretion185 184 The following table presents undiscounted expected future benefit and expense payments and undiscounted expected future gross premiums.March 31,20252024(In millions)Expected future benefit and expense payments$31,433 $32,474 Expected future gross premiums5,089 5,270 Discounted expected future gross premiums at the upper-medium grade fixed income instrument yield discount