Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 6

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
2025 and 2024 $(49)$48 Investment gains (losses) are as follows:Three Months Ended March 3120252024(In millions)     Fixed maturity securities:Gross gains$13 $14 Gross losses(22)(46)Investment losses on fixed maturity securities(9)(32)Equity securities (a)11 Short-term investments and other(1)Investment losses$(9)$(22)(a) Investment gains (losses) recognized due to the change in fair value of non-redeemable preferred stock included within equity securities held as of March 31, 2025 and 2024 $(2)$11 The available-for-sale impairment losses (gains) recognized in earnings by asset type are presented in the following table. The table includes losses (gains) on securities with an intention to sell and changes in the allowance for credit losses on securities since acquisition date: Three Months Ended March 3120252024(In millions)     Fixed maturity securities available-for-sale:  Corporate and other bonds$7 $9 Asset-backed5 Impairment losses recognized in earnings$7 $14 There were no losses recognized on mortgage loans during the three months ended March 31, 2025 or 2024. 

9

The following tables present a summary of fixed maturity securities:March 31, 2025Cost or Amortized CostGross UnrealizedGainsGross UnrealizedLossesAllowancefor Credit Losses EstimatedFair Value(In millions)           Fixed maturity securities:     Corporate and other bonds$26,388 $502 $1,149 $15 $25,726 States, municipalities and political  subdivisions7,246 227 829 6,644 Asset-backed:Residential mortgage-backed3,844 20 426 3,438 Commercial mortgage-backed1,738 14 119 18 1,615 Other asset-backed3,816 24 216 14 3,610 Total asset-backed9,398 58 761 32 8,663 U.S. Treasury and obligations of  government sponsored enterprises219 1 2 218 Foreign government688 8 26 670 Fixed maturities available-for-sale$43,939 $796 $2,767 $47 $41,921 Fixed maturities trading802 802