Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 362

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 362
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135

The following table summarizes balances and changes in the LFPB.202420232022(In millions)Present value of future net premiumsBalance, January 1$3,710 $3,991 $4,735 Effect of changes in discount rate(125)(74)(880)Balance, January 1, at original locked in discount rate3,585 3,917 3,855 Effect of changes in cash flow assumptions (a)111 28 352 Effect of actual variances from expected experience (a)(41)(126)(49)Adjusted balance, January 13,655 3,819 4,158 Interest accrual183 202 216 Net premiums: earned during period(420)(436)(457)Balance, end of period at original locked in discount rate3,418 3,585 3,917 Effect of changes in discount rate7 125 74 Balance, December 31$3,425 $3,710 $3,991 Present value of future benefits & expensesBalance, January 1$17,669 $17,471 $22,745 Effect of changes in discount rate(578)(125)(5,942)Balance, January 1, at original locked in discount rate17,091 17,346 16,803 Effect of changes in cash flow assumptions (a)126 36 538 Effect of actual variances from expected experience (a)69 (46)(21)Adjusted balance, January 117,286 17,336 17,320 Interest accrual924 962 979 Benefit & expense payments(1,187)(1,207)(953)Balance, end of period at original locked in discount rate17,023 17,091 17,346 Effect of changes in discount rate(440)578 125 Balance, December 31$16,583 $17,669 $17,471 Net LFPB, December 31$13,158 $13,959 $13,480 (a)As of December 31, 2024, 2023 and 2022 the re-measurement loss of $(125), $(88) and $(214) presented parenthetically on the Consolidated Statement of Operations is comprised of the effect of changes in cash flow assumptions and the effect of actual variances from expected experience. 

136

The following table presents earned premiums and interest