Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 46

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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es)Estimated Fair Value Net Unrealized Gains (Losses)(In millions)         U.S. Government, Government agencies and Government-sponsored enterprises$3,043 $(309)$2,936 $(369)AAA3,080 (198)3,010 (217)AA6,227 (545)6,369 (567)A10,711 (288)10,260 (379)BBB17,077 (551)16,757 (729)Non-investment grade1,835 (80)1,779 (64)Total$41,973 $(1,971)$41,111 $(2,325)

As of March 31, 2025 and December 31, 2024, 1% of CNA’s fixed maturity portfolio was rated internally. AAA rated securities included $0.2 billion of prefunded municipal bonds as of March 31, 2025 and December 31, 2024.

45

The following table presents CNA’s available-for-sale fixed maturity securities in a gross unrealized loss position by ratings distribution:

March 31, 2025Estimated Fair ValueGross Unrealized Losses(In millions)     U.S. Government, Government agencies and Government-sponsored enterprises$2,212 $322 AAA1,453 265 AA3,981 701 A6,254 527 BBB10,922 849 Non-investment grade1,024 103 Total$25,846 $2,767 

The following table presents the maturity profile for these available-for-sale fixed maturity securities. Securities not due to mature on a single date are allocated based on weighted average life:

March 31, 2025Estimated Fair ValueGross Unrealized Losses(In millions)     Due in one year or less$1,350 $22 Due after one year through five years7,185 317 Due after five years through ten years7,338 785 Due after ten years9,973 1,643 Total$25,846 $2,767 

Duration

A primary objective in the management of CNA’s investment portfolio is to optimize return relative to the corresponding liabilities and respective liquidity needs. CNA’s views on the current interest rate environment, tax regulations, asset class valuations, specific security issuer and broader industry segment conditions as well as domestic and global economic conditions, are some of