Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 24

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 offset by favorable premium rate actions.The cash flow assumption updates for the third quarter of 2024 resulted in a $15 million pretax increase in the LFPB. Included in the assumption updates was a favorable impact from outperformance on premium rate assumptions and an unfavorable impact from higher cost of care inflation. For further information on the long-term care reserving process see Note 1 of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

26

The following table summarizes balances and changes in the LFPB:20252024(In millions)Present value of future net premiumsBalance, January 1$3,425 $3,710 Effect of changes in discount rate(7)(125)Balance, January 1, at original locked in discount rate3,418 3,585 Effect of changes in cash flow assumptions (a)114 111 Effect of actual variances from expected experience (a)(2)(40)Adjusted balance, January 13,530 3,656 Interest accrual133 139 Net premiums: earned during period(306)(317)Balance, end of period at original locked in discount rate3,357 3,478 Effect of changes in discount rate83 147 Balance, September 30$3,440 $3,625 Present value of future benefits & expensesBalance, January 1$16,583 $17,669 Effect of changes in discount rate440 (578)Balance, January 1, at original locked in discount rate17,023 17,091 Effect of changes in cash flow assumptions (a)121 126 Effect of actual variances from expected experience (a)50 33 Adjusted balance, January 117,194 17,250 Interest accrual688 693 Benefit & expense payments(870)(883)Balance, end of period at original locked in discount rate17,012 17,060 Effect of changes in discount rate(26)612 Balance, September 30$16,986 $17,672 Net LFPB, September 30$13,546 $14,047 (a)As of September 30, 2025 and 2024, the re-measurement loss of $59 million and $88 million presented parenthetically on the Consolidated Condensed Statement of Operations is comprised of the effect of changes in cash flow assumptions and the