Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 35

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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Operating expenses and other$731 $761 $457 $31 $1,980 (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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Six Months Ended June 30, 2024CNA FinancialBoardwalk Pipelines Loews Hotels & Co CorporateTotal(In millions)Revenues:Insurance premiums$4,939 $4,939 Net investment income1,227 $13 $5 $63 1,308 Investment losses(32) (32)Non-insurance warranty revenue811 811 Operating revenues and other18 992 462  1,472 Total6,963 1,005 467 63 8,498 Expenses:Insurance claims and policyholders’ benefits (a)3,689 3,689 Amortization of deferred acquisition costs879 879 Non-insurance warranty expense782 782 Operating expenses and other (b)715 659 434 40 1,848 Equity method (income) loss  (59)6 (53)Interest69 90 20 38 217 Total6,134 749 395 84 7,362 Income (loss) before income tax829 256 72 (21)1,136 Income tax (expense) benefit(174)(65)(21)4 (256)Net income (loss)655 191 51 (17)880 Amounts attributable to noncontrolling interests(54)(54)Net income (loss) attributable to Loews Corporation$601 $191 $51 $(17)$826 June 30, 2024Total assets$65,149 $10,475 $2,480 $2,953 $81,057 (a)Significant segment expenses within Insurance claims and policyholders’ benefits include catastrophe losses of $170 million and unfavorable net prior year loss reserve development of $16 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)