Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 32

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 32
---
 $47 714 Investment losses(46) (46)Non-insurance warranty revenue398 398 Operating revenues and other9 534 252  795 Total3,717 537 254 47 4,555 Expenses:Insurance claims and policyholders’ benefits (a)2,085 2,085 Amortization of deferred acquisition costs469 469 Non-insurance warranty expense384 384 Operating expenses and other (b)368 380 226 15 989 Equity method (income) loss  (29)11 (18)Interest31 40 18 18 107 Total3,337 420 215 44 4,016 Income before income tax380 117 39 3 539 Income tax expense(81)(29)(11)(2)(123)Net income299 88 28 1 416 Amounts attributable to noncontrolling interests(25)(25)Net income attributable to Loews Corporation$274 $88 $28 $1 $391 (a)Significant segment expenses within Insurance claims and policyholders’ benefits include catastrophe losses of $62 million and unfavorable net prior year loss reserve development of $108 million. Net prior year loss reserve development does not include the effects of interest accretion and change in allowance for uncollectible reinsurance.(b)Significant segment expenses included in Operating expenses and other:

35

Three Months Ended June 30, 2025CNA FinancialBoardwalk PipelinesLoews Hotels & CoCorporateTotal      Insurance related administrative expenses$337 $337 Operating expenses$177 $147 324 Depreciation and amortization120 24 144 Other (c)31 83 55 $15 184 Operating expenses and other$368 $380 $226 $15 $989 (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

36

Three Months Ended June 30, 2024CNA FinancialBoardwalk PipelinesLoews Hotels & CoCorporateTotal(In millions)Revenues:Insurance premiums