Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 117

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 company trading portfolio.

44

CNA Financial

The following table summarizes the results of operations for CNA for the three and nine months ended September 30, 2025 and 2024 as presented in Note 12 of the Notes to Consolidated Condensed Financial Statements included under Item 1 of this Report. For further discussion of Net investment income and Investment gains (losses), see the Investments section of this MD&A.

Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024(In millions)     Revenues:  Insurance premiums$2,783 $2,593 $8,103 $7,532 Net investment income638 626 1,904 1,853 Investment losses(7)(10)(62)(42)Non-insurance warranty revenue393 401 1,188 1,212 Other revenues10 8 28 26 Total3,817 3,618 11,161 10,581 Expenses:  Insurance claims and policyholders’ benefits2,032 2,019 6,144 5,708 Amortization of deferred acquisition costs483 457 1,423 1,336 Non-insurance warranty expense377 387 1,146 1,169 Other operating expenses376 362 1,107 1,077 Interest36 32 99 101 Total3,304 3,257 9,919 9,391 Income before income tax513 361 1,242 1,190 Income tax expense(110)(78)(266)(252)Net income403 283 976 938 Amounts attributable to noncontrolling interests(32)(24)(79)(78)Net income attributable to Loews Corporation$371 $259 $897 $860 

Three Months Ended September 30, 2025 Compared to the Comparable 2024 Period

Net income attributable to Loews Corporation increased $112 million for the three months ended September 30, 2025 as compared with the comparable 2024 period, driven by improved underwriting results in CNA’s commercial property and casualty insurance operations primarily due to lower catastrophe losses, improved underlying underwriting results and higher net investment income.

Nine Months Ended September 30, 2025 Compared to the Comparable 2024 Period

Net income attributable to Loews Corporation increased $37 million for the nine months ended September