Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 110

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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ews 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 expenses$190 $144 334 Depreciation and amortization107 27 $1 135 Other (c)52 85 50 20 207 Operating expenses and other$376 $382 $221 $21 $1,000 (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 &