Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 9

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 the volatility in risk-free rates and credit spreads, as well as the fact that the unrealized losses are concentrated in investment grade issuers, were considered. Additionally, there is no current intent to sell securities with unrealized losses, nor is it more likely than not that sale will be required prior to recovery of amortized cost; accordingly, it was determined that there are no additional impairment losses to be recorded as of March 31, 2025.The following tables present the activity related to the allowance on available-for-sale securities with credit impairments and purchased credit-deteriorated (“PCD”) assets. Accrued interest receivable on available-for-sale fixed maturity securities totaled $456 million, $442 million and $437 million as of March 31, 2025, December 31, 2024 and March 31, 2024 and are excluded from the estimate of expected credit losses and the amortized cost basis in the tables within this Note.Three months ended March 31, 2025Corporate and Other BondsAsset-backedTotal(In millions)   Allowance for credit losses:   Balance as of January 1, 2025$13 $32 $45 Additions to the allowance for credit losses:Available-for-sale securities accounted for as PCD assets— Reductions to the allowance for credit losses:Securities sold during the period (realized)— Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis— Additional increases to the allowance for credit losses on securities that had an allowance recorded in a previous period2 2 Total allowance for credit losses$15 $32 $47 

12

Three months ended March 31, 2024Corporate and Other BondsAsset-backedTotal(In millions)   Allowance for credit losses:   Balance as of January 1, 2024$4 $12 $16 Additions to the allowance for credit losses:Available-for-sale securities accounted for as PCD assets—  Reductions to the allowance for credit losses:Securities sold during the period (realized)— Intent to sell or more likely than not will be required to sell thesecurity before recovery of its amortized cost basis1 1 Additional increases to the allowance for credit losses on securities that had an allowance recorded in a previous period5 5 Total allowance for credit losses$3 $17 $20 Contractual MaturityThe following