Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 122

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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 CNA’s fixed maturity securities by rating distribution:

March 31, 2025December 31, 2024 Estimated Fair ValueNet Unrealized Gains (Losses)Estimated Fair Value Net Unrealized Gains (Losses)(In millions)         U.S. Government, Government agencies and Government-sponsored enterprises$3,043 $(309)$2,936 $(369)AAA3,080 (198)3,010 (217)AA6,227 (545)6,369 (567)A10,711 (288)10,260 (379)BBB17,077 (551)16,757 (729)Non-investment grade1,835 (80)1,779 (64)Total$41,973 $(1,971)$41,111 $(2,325)

As of March 31, 2025 and December 31, 2024, 1% of CNA’s fixed maturity portfolio was rated internally. AAA rated securities included $0.2 billion of prefunded municipal bonds as of March 31, 2025 and December 31, 2024.

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The following table presents CNA’s available-for-sale fixed maturity securities in a gross unrealized loss position by ratings distribution:

March 31, 2025Estimated Fair ValueGross Unrealized Losses(In millions)     U.S. Government, Government agencies and Government-sponsored enterprises$2,212 $322 AAA1,453 265 AA3,981 701 A6,254 527 BBB10,922 849 Non-investment grade1,024 103 Total$25,846 $2,767 

The following table presents the maturity profile for these available-for-sale fixed maturity securities. Securities not due to mature on a single date are allocated based on weighted average life:

March 31, 2025Estimated Fair ValueGross Unrealized Losses(In millions)     Due in one year or less$1,350 $22 Due after one year through five years7,185 317 Due after five years through ten years7,338 785 Due after ten years9,973 1,643 Total$25,846 $2,767 

Duration

A primary objective in the management of CNA’s investment portfolio is to optimize return relative to the corresponding liabilities and respective liquidity needs. CNA’s views