Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 42

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 profitability, before tax, derived from CNA’s underwriting activities, excluding the impact of catastrophe losses, which are unpredictable as to timing and amount, and development-related items as they are not indicative of CNA’s current year underwriting performance.

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The following tables present reconciliations of net income attributable to Loews Corporation to core income (loss), underwriting gain and underlying underwriting gain for the three and six months ended June 30, 2025 and 2024:

Three Months Ended June 30, 2025SpecialtyCommercialInternationalProperty & CasualtyOther Insurance OperationsTotal(In millions)Net income (loss) attributable to Loews Corporation$151 $182 $49 $382 $(108)$274 Investment losses12 19 31 5 36 Noncontrolling interests14 17 4 35 (10)25 Core income (loss)$177 $218 $53 $448 $(113)$335 Less:Net investment income170 206 38 414 Non-insurance warranty revenue14 14 Other revenue (expense), including interest expense(11)(5)10 (6)Income tax expense on core income(49)(57)(18)(124)Underwriting gain 53 74 23 150 Effect of catastrophe losses57 5 62 Effect of unfavorable development-related items1 1 Underlying underwriting gain$53 $132 $28 $213 

Three Months Ended June 30, 2024Net income (loss) attributable to Loews Corporation$151 $147 $41 $339 $(48)$291 Investment (gains) losses5 7 (1)11 (2)9 Noncontrolling interests13 13 4 30 (4)26 Core income (loss)$169 $167 $44 $380 $(54)$326 Less:Net investment income154 175 32 361 Non-insurance warranty revenue16 16 Other expense, including interest expense(14)(3)(1)(18)Income tax expense on core income(47)(44)(12)(103)Underwriting gain60 39 25 124 Effect of catastrophe losses 76 6 82 Effect of favorable development-related items(3) (3)(6)Underlying underwriting gain$57 $115 $28 $200 

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