Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 98

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 Statement of Operations.Three Months EndedSix Months EndedJune 30,June 30,2025202420252024(In millions)   Earned premiums$106 $109 $212 $219 Interest accretion185 185 370 369 The following table presents undiscounted expected future benefit and expense payments and undiscounted expected future gross premiums.June 30,20252024(In millions)Expected future benefit and expense payments$31,141 $32,212 Expected future gross premiums4,971 5,149 Discounted expected future gross premiums at the upper-medium grade fixed income instrument yield discount rate were $3.5 billion as of June 30, 2025 and 2024.The weighted average effective duration of the LFPB calculated using the original locked in discount rate was 11 years as of June 30, 2025 and 2024.  The weighted average interest rates in the table below are calculated based on the rate used to discount all future cash flows.June 30,December 31,202520242024Original locked in discount rate5.18 %5.21 %5.20 %Upper-medium grade fixed income instrument discount rate5.39 5.43 5.51 For the three and six months ended June 30, 2025, immediate charges to net income resulting from adverse development in certain cohorts where the net premium ratio (“NPR”) exceeded 100% were $14 million and $28 million. For the three and six months ended June 30, 2024, immediate charges to net income resulting from adverse development in certain cohorts where the NPR exceeded 100% were $24 million and $44 million. For the three and six months ended June 30, 2025, the portion of losses recognized in a prior period due to NPR exceeding 100% for certain cohorts which, due to favorable development, was reversed through net income were $5 million and $11 million. For the three and six months ended June 30, 2024, the portion of losses recognized in a prior period due to NPR exceeding 100% for certain cohorts which, due to favorable development, was reversed through net income were $6 million and $8 million.

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6. Shareholders’ Equity

Accumulated other comprehensive income (loss)The tables below present the changes in Accumulated other comprehensive income (loss) (“AOCI”) by component for the three and six months ended