Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 123

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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-party captives982 1,538 305 2,825 Net written premiums862 1,221 277 2,360 Net earned premiums848 1,325 311 2,484 Underwriting gain (loss)59 (3)12 68 Net investment income157 183 32 372 Core income171 139 36 346 Other performance metrics:Loss ratio60.1%72.0%62.5%66.7%Expense ratio32.727.733.630.2Dividend ratio0.20.50.3Combined ratio93.0%100.2%96.1%97.2%Less: Effect of catastrophe impacts9.6 5.1 5.8 Less: Effect of favorable development-related items(0.1)(0.7)(0.2)Underlying combined ratio93.0%90.7%91.7%91.6%Underlying loss ratio60.1%62.5%58.1%61.1%Rate6%(2)%3%Renewal premium change2%815Retention89848285New business$129 $345 $73 $547 

49

Nine Months Ended September 30, 2025Specialty Commercial International Total (In millions, except %)         Gross written premiums$5,064 $5,487 $1,132 $11,683 Gross written premiums excluding third-party captives2,952 5,301 1,132 9,385 Net written premiums2,601 4,312 976 7,889 Net earned premiums2,573 4,235 978 7,786 Underwriting gain155 163 66 384 Net investment income483 575 114 1,172 Core income503 575 137 1,215  Other performance metrics:Loss ratio60.7%68.7%60.3%65.0%Expense ratio33.026.932.929.7Dividend ratio0.30.50.4Combined ratio94.0%96.1%93.2%95.1%Less: Effect of catastrophe impacts4.3 1.8 2.6 Less: Effect of unfavorable development-related items0.4 1.30.8 Underlying combined ratio93.6%90.5%91.