Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 55

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 55
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$311 $(30)$281 Less:Net investment income151 177 34 362 Non-insurance warranty revenue12 12 Other revenue (expense), including interest expense(14)(2)1 (15)Income tax expense on core income(41)(34)(13)(88)Underwriting gain (loss)42 (17)15 40 Effect of catastrophe losses86 11 97 Effect of unfavorable development-related items10 53 63 Underlying underwriting gain$52 $122 $26 $200 

Three Months Ended March 31, 2024Net income (loss) attributable to Loews Corporation$153 $132 $34 $319 $(9)$310 Investment (gains) losses10 14 24 (7)17 Noncontrolling interests14 12 3 29 (1)28 Core income (loss)$177 $158 $37 $372 $(17)$355 Less:Net investment income150 176 31 357 Non-insurance warranty revenue13 13 Other revenue (expense), including interest expense(14)(4)(2)(20)Income tax expense on core income (48)(43)(13)(104)Underwriting gain76 29 21 126 Effect of catastrophe losses82 6 88 Effect of favorable development-related items(5)(5)Underlying underwriting gain$71 $111 $27 $209 

36

Property & Casualty Operations

The following tables summarize the results of CNA’s Property & Casualty Operations and provides the components to reconcile the combined ratio and loss ratio to the underlying combined ratio and underlying loss ratio for the three months ended March 31, 2025 and 2024.  

Three Months Ended March 31, 2025Specialty Commercial International Total (In millions, except %)         Gross written premiums$1,672 $1,853 $373 $3,898 Gross written premiums excluding third-party captives930 1,839 373 3,142 Net written premiums842 1,498 266 2,606 Net earned premiums830 1,380 310 2,520 Underwriting gain (loss)42 (17)15 40 Net investment income151 177 34 362 Core income150 124 37 311  Other