Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 257

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 257
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 to reconcile the combined ratio and loss ratio to the underlying combined ratio and underlying loss ratio for the years ended December 31, 2024 and 2023.

Year Ended December 31, 2024Specialty Commercial International Total (In millions, except %)         Gross written premiums$6,932 $6,964 $1,483 $15,379 Gross written premiums excluding third-party captives3,895 6,816 1,483 12,194 Net written premiums3,445 5,469 1,262 10,176 Net earned premiums3,361 5,158 1,256 9,775 Underwriting gain249 171 76 496 Net investment income626 733 131 1,490 Core income694 702 153 1,549  Other performance metrics:Loss ratio59.5 %68.3 %60.9 %64.3 %Expense ratio32.8 27.9 33.1 30.2 Dividend ratio0.3 0.5 0.4 Combined ratio92.6 %96.7 %94.0 %94.9 %Less: Effect of catastrophe impacts6.2 3.2 3.6 Less: Effect of favorable development-related items(0.3)(0.1)(0.4)(0.2)Underlying combined ratio92.9 %90.6 %91.2 %91.5 %Underlying loss ratio59.8 %62.2 %58.1 %60.9 % Rate1 %6 %(1)%4 %Renewal premium change2 7 5 Retention89 84 82 85 New business$462 $1,512 $288 $2,262 

Year Ended December 31, 2023    Gross written premiums$7,113 $6,120 $1,485 $14,718 Gross written premiums excluding third-party captives3,800 5,994 1,485 11,279 Net written premiums3,329 4,880 1,237 9,446 Net earned premiums3,307 4,547 1,176 9,030 Underwriting gain317 182 86 585