Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 27

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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)42 83 54 15 194 Operating expenses and other$363 $381 $231 $16 $991 (c)Other expenses for each reportable segment include:CNA Financial: reflects expenses not directly related to insurance operations, which includes certain expenses related to its non-insurance warranty business and claims services offerings, as well as foreign currency transaction gains and losses. Boardwalk Pipelines: general and administrative expensesLoews Hotels & Co: general and administrative and reimbursable expensesCorporate: general and administrative expenses

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Three Months Ended March 31, 2024CNA FinancialBoardwalk Pipelines Loews Hotels & Co CorporateTotal(In millions)Revenues:Insurance premiums$2,441 $2,441 Net investment income609 $4 $2 $54 669 Investment losses(22)(22)Non-insurance warranty revenue407 407 Operating revenues and other9 513 214 736 Total3,444 517 216 54 4,231 Expenses:Insurance claims and policyholders’ benefits (a)1,807 1,807 Amortization of deferred acquisition costs444 444 Non-insurance warranty expense394 394 Operating expenses and other (b)337 312 209 22 880 Equity method (income) loss(27)1 (26)Interest35 43 6 19 103 Total3,017 355 188 42 3,602 Income before income tax427 162 28 12 629 Income tax expense(89)(41)(12)(2)(144)Net income338 121 16 10 485 Amounts attributable to noncontrolling interests(28)(28)Net income attributable to Loews Corporation$310 $121 $16 $10 $457 March 31, 2024Total assets$65,038 $10,415 $2,441 $3,012 $80,906 (a)Significant segment expenses within Insurance claims and policyholders’ benefits include catastrophe losses of $88 million and favorable net prior year loss reserve development of $7 million. Net prior year loss reserve development does not include the effects of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.

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(b)Significant segment expenses included in Operating expenses and other:Three Months Ended March 31, 2024C