Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 144

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 144
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NR Reserves15,093 1,481 16,574  Total Gross Carried Claim and Claim Adjustment Expense Reserves$21,682 $3,294 $24,976  Net Case Reserves$5,573 $634 $6,207 Net IBNR Reserves12,761 295 13,056  Total Net Carried Claim and Claim Adjustment Expense Reserves$18,334 $929 $19,263 December 31, 2023Gross Case Reserves$5,759 $1,979 $7,738 Gross IBNR Reserves14,184 1,382 15,566 Total Gross Carried Claim and Claim Adjustment Expense Reserves$19,943 $3,361 $23,304 Net Case Reserves$4,978 $685 $5,663 Net IBNR Reserves12,235 265 12,500 Total Net Carried Claim and Claim Adjustment Expense Reserves$17,213 $950 $18,163 Net Prior Year DevelopmentChanges in estimates of claim and claim adjustment expense reserves, net of reinsurance, for prior years are defined as net prior year loss reserve development. These changes can be favorable or unfavorable.

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The following table and discussion present details of the net prior year loss reserve development in Property & Casualty Operations and Other Insurance Operations:Year Ended December 31202420232022(In millions)       Medical professional liability$(8)$5 $18 Other professional liability and management liability49 37 50 Surety(68)(43)(83)Warranty20 (11)(21)Commercial auto107 33 49 General liability75 149 67 Workers’ compensation(202)(203)(152)Other property and casualty operations(4)10 (24)Other insurance operations79 71 64 Total pretax (favorable) unfavorable development$48 $48 $(32)Development TablesFor CNA’s Property & Casualty Operations, the following tables present further detail and commentary on the development reflected in the financial statements for each of the periods presented. Also presented are loss reserve development tables that illustrate the change over time of reserves established for claim and allocated claim adjustment expenses arising from short-duration insurance contracts for certain lines of business within CNA’s Property & Casualty Operations. Not all lines of business are presented based on their context to CNA’s