Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 102

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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.The following tables present the reportable segments and their contribution to the Consolidated Condensed Statements of Operations. Amounts presented will not necessarily be the same as those in the individual financial statements of the subsidiaries due to adjustments for purchase accounting, income taxes and noncontrolling interests. 

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Statements of Operations by segment are presented in the following tables. Three Months Ended March 31, 2025CNA Financial Boardwalk Pipelines Loews Hotels & Co CorporateTotal (In millions)           Revenues:           Insurance premiums$2,626 $2,626 Net investment income604 $1 $3  608 Investment losses(9) (9)Non-insurance warranty revenue397 397 Operating revenues and other9 621 242  872 Total3,627 622 245 $— 4,494  Expenses: Insurance claims and policyholders’ benefits (a)2,027 2,027 Amortization of deferred acquisition costs471 471 Non-insurance warranty expense385 385 Operating expenses and other (b)363 381 231 16 991 Equity method (income) loss  (6)7 1 Interest32 39 16 18 105 Total3,278 420 241 41 3,980 Income (loss) before income tax349 202 4 (41)514 Income tax (expense) benefit(75)(50)(4)7 (122)Net income (loss)274 152 — (34)392 Amounts attributable to noncontrolling interests(22)(22)Net income (loss) attributable to Loews Corporation$252 $152 $— $(34)$370 March 31, 2025Total assets$67,288 $9,919 $2,500 $3,435 $83,142 (a)Significant segment expenses within Insurance claims and policyholders’ benefits include catastrophe losses of $97 million and unfavorable net prior year loss reserve development of $83 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 March 31, 2025CNA FinancialBoardwalk PipelinesLoews Hotels & CoCorporateTotal      Insurance related administrative