Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 256

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 256
---
writing gain (loss) and underlying underwriting gain (loss) for the years ended December 31, 2024 and 2023:

50

Year Ended December 31, 2024SpecialtyCommercialInternationalProperty & CasualtyOther Insurance OperationsTotal(In millions)Net income (loss) attributable to Loews Corporation$608 $603 $140 $1,351 $(472)$879 Investment (gains) losses31 44  75 (11)64 Pension settlement losses 293 293 Noncontrolling interests55 55 13 123 (43)80 Core income (loss)$694 $702 $153 $1,549 $(233)$1,316 Less:Net investment income626 733 131 1,490 Non-insurance warranty revenue62   62 Other expense, including interest expense(53)(14)(10)(77)Income tax expense on core income(190)(188)(44)(422)Underwriting gain249 171 76 496 Effect of catastrophe losses 318 40 358 Effect of favorable development-related items(8) (6)(14)Underlying underwriting gain$241 $489 $110 $840 

Year Ended December 31, 2023Net income (loss) attributable to Loews Corporation$605 $539 $133 $1,277 $(183)$1,094 Investment (gains) losses42 58 (2)98 (19)79 Noncontrolling interests61 55 14 130 (19)111 Core income (loss)$708 $652 $145 $1,505 $(221)$1,284 Less:Net investment income558 645 103 1,306 Non-insurance warranty revenue80   80 Other revenue (expense), including interest expense(52)(1)4 (49)Income tax expense on core income(195)(174)(48)(417)Underwriting gain317 182 86 585 Effect of catastrophe losses 207 29 236 Effect of (favorable) unfavorable development-related items(12)(4)13 (3)Underlying underwriting gain$305 $385 $128 $818 

51

Property & Casualty Operations

The following tables summarize the results of CNA’s Property & Casualty Operations and provides the components