Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 33

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 segments, see Note 20 of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.The following tables present the reportable segments and their contribution to the Consolidated Condensed Statements of Operations. Amounts presented will not necessarily be the same as those in the individual financial statements of the subsidiaries due to adjustments for purchase accounting, income taxes and noncontrolling interests. 

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Statements of Operations by segment are presented in the following tables. Three Months Ended September 30, 2025CNA Financial Boardwalk Pipelines Loews Hotels & Co CorporateTotal (In millions)Revenues:Insurance premiums$2,783 $2,783 Net investment income638 $4 $4 $97 743 Investment losses(7) (7)Non-insurance warranty revenue393 393 Operating revenues and other10 542 207  759 Total3,817 546 211 97 4,671 Expenses:Insurance claims and policyholders’ benefits (a)2,032 2,032 Amortization of deferred acquisition costs483 483 Non-insurance warranty expense377 377 Operating expenses and other (b)376 382 221 21 1,000 Equity method (income) loss  (25)3 (22)Interest36 40 18 18 112 Total3,304 422 214 42 3,982 Income (loss) before income tax513 124 (3)55 689 Income tax expense(110)(30) (13)(153)Net income (loss)403 94 (3)42 536 Amounts attributable to noncontrolling interests(32)(32)Net income (loss) attributable to Loews Corporation$371 $94 $(3)$42 $504 (a)Significant segment expenses within Insurance claims and policyholders’ benefits include catastrophe losses of $41 million and favorable net prior year loss reserve development of $1 million. Net prior year loss reserve development does not include the effects of interest accretion and change in allowance for uncollectible reinsurance.

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(b)Significant segment expenses included in Operating expenses and other:Three Months Ended September 30, 2025CNA FinancialBoardwalk PipelinesLoews Hotels & CoCorporateTotal      Insurance related administrative expenses$324 $324 Operating