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

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 2,010 466 2,859 488 Commercial mortgage-backed180 2 988 139 1,168 141 Other asset-backed680 21 1,557 218 2,237 239 Total asset-backed1,709 45 4,555 823 6,264 868 U.S. Treasury and obligations of  government-sponsored enterprises49 1 41 90 1 Foreign government118 3 368 27 486 30 Total fixed maturity securities$8,969 $266 $18,319 $2,773 $27,288 $3,039 

13

The following table presents the estimated fair value and gross unrealized losses of available-for-sale fixed maturity securities in a gross unrealized loss position for which an allowance for credit loss has not been recorded, by ratings distribution. June 30, 2025December 31, 2024Estimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized Losses(In millions)U.S. Government, Government agencies and Government-sponsored enterprises$2,086 $322 $2,567 $373 AAA1,578 280 1,800 282 AA4,224 735 4,247 730 A5,891 522 6,330 582 BBB9,531 787 11,548 980 Non-investment grade677 92 796 92 Total$23,987 $2,738 $27,288 $3,039 Based on current facts and circumstances, the unrealized losses presented in the June 30, 2025 securities in the gross unrealized loss position table above are not indicative of the ultimate collectability of the current amortized cost of the securities, but rather are primarily attributable to changes in risk-free interest rates. In reaching this determination, 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 June 30, 2025.The following tables present the activity related to the allowance on available-for-sale securities with credit impairments and purchased credit-d