Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 131

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 131
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 $9 $60 $169 $272 LTV 55% to 65%15 $11 4 12 42 LTV greater than 65%13 30 12 55 DSCR 1.2x - 1.6xLTV less than 55%$49 28 5 2 49 71 204 LTV 55% to 65%53 30 21 30 20 39 193 LTV greater than 65%46 46 DSCR ≤1.2xLTV less than 55%21 21 LTV 55% to 65%22 75 20 117 LTV greater than 65%35 21 48 104 Total$102 $127 $236 $76 $133 $380 $1,054 (a)The values in the table above reflect DSCR on a standardized amortization period and LTV ratios based on the most recent appraised values trended forward using changes in a commercial real estate price index.Derivative Financial InstrumentsDerivatives may be used in the normal course of business, primarily in an attempt to reduce exposure to market risk (principally interest rate risk, credit risk, equity price risk, commodity price risk and foreign currency risk) stemming from various assets and liabilities. The principal objective under such strategies is to achieve the desired reduction in economic risk, even if the position does not receive hedge accounting treatment.

111

Interest rate swaps, futures and forward commitments to purchase securities may be entered into to manage interest rate risk. Credit derivatives such as credit default swaps may be entered into to modify the credit risk inherent in certain investments. Forward contracts, futures, swaps and options may be used to manage foreign currency and commodity price risk.In addition to the derivatives used for risk management purposes described above, derivatives may also be used for purposes of income enhancement. Income enhancement transactions include interest rate swaps, call options, put options, credit default swaps, index futures and foreign currency forwards. See Note 4 for information regarding the fair value of derivative instruments.The following tables present the aggregate contractual or notional amount and estimated fair value related to derivative financial instruments.December 3120242023Contractual/Notional AmountEstimated Fair Value Contractual/Notional AmountEstimated Fair Value Asset(Liability) Asset(Liability) (In millions)Without hedge designation:Equity markets:Options - purchased$268