Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 35

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 %Expense ratio31.8 28.2 33.2 30.1 Dividend ratio0.3 0.6 0.4 Combined ratio90.7 %97.6 %93.3 %94.6 %Less: Effect of catastrophe impacts6.8 2.0 3.8 Less: Effect of favorable development-related items(0.6)(0.2)Underlying combined ratio91.3 %90.8 %91.3 %91.0 %Underlying loss ratio59.2 %62.0 %58.1 %60.5 % Rate2 %6 %1 %4 %Renewal premium change3 8 3 6 Retention88 85 82 85 New business$94 $367 $68 $529 

Gross written premiums, excluding third-party captives, for Specialty increased $50 million for the three months ended March 31, 2025 as compared with the comparable 2024 period driven by higher new business and favorable renewal premium change, inclusive of rate. Net written premiums for Specialty increased $50 million for the three months ended 

37

March 31, 2025 as compared with the comparable 2024 period. The increase in net earned premiums for the three months ended March 31, 2025 was consistent with the trend in net written premiums for Specialty.

Gross written premiums for Commercial increased $167 million for the three months ended March 31, 2025 as compared with the comparable 2024 period driven by favorable renewal premium change, inclusive of rate. Net written premiums for Commercial increased $160 million for the three months ended March 31, 2025 as compared with the comparable 2024 period. The increase in net earned premiums for the three months ended March 31, 2025 was consistent with the trend in net written premiums for Commercial. 

Gross written premiums for International decreased $1 million for the three months ended March 31, 2025 as compared with the comparable 2024 period. Excluding the effect of foreign currency exchange rates, gross written premiums increased $14 million driven by higher new business. Net written premiums for International increased $6 million for the three months ended March 31, 2025 as compared with the comparable 2024 period. Excluding the effect of foreign currency exchange rates, net written premiums increased