Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 331

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 331
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 cost basis1 1 Write-offs charged against the allowance9 9 Additional increases to the allowance for credit losses on securities that had an allowance recorded in a previous period12 12 Total allowance for credit losses$13 $32 $45 

109

Year Ended December 31, 2023Corporate and Other Bonds Asset-backedTotal (In millions)   Allowance for credit losses:   Balance as of January 1, 2023$— $1 $1 Additions to the allowance for credit losses:Securities for which credit losses were not previously recorded10 7 17 Available-for-sale securities accounted for as PCD assets22 22  Reductions to the allowance for credit losses:Securities sold during the period (realized)6 6 Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis8 8 Write-offs charged against the allowance15 15 Additional increases to the allowance for credit losses on securities that had an allowance recorded in a previous period1 4 5 Total allowance for credit losses$4 $12 $16 Contractual MaturityThe following table presents available-for-sale fixed maturity securities by contractual maturity.December 3120242023Cost or Amortized CostEstimated Fair ValueCost or Amortized CostEstimated Fair Value(In millions)Due in one year or less$1,761 $1,753 $1,121 $1,091 Due after one year through five years11,678 11,403 11,563 11,180 Due after five years through ten years13,083 12,365 13,359 12,573 Due after ten years16,908 15,540 16,371 15,581 Total$43,430 $41,061 $42,414 $40,425 Actual maturities may differ from contractual maturities because certain securities may be called or prepaid. Securities not due at a single date are allocated based on weighted average life.Limited PartnershipsThe carrying value of limited partnerships as of December 31, 2024 and 2023 was approximately $2.5 billion and $2.2 billion, which includes net undistributed earnings of $334 million and $250 million. Limited partnerships comprising 14% of the total carrying value are reported on a current basis through December 31, 202