Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 87

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 $2,186 $20,691 $2,295 December 31, 2024Fixed maturity securities:Corporate and other bonds$5,846 $165 $10,388 $1,140 $16,234 $1,305 States, municipalities and political  subdivisions1,247 52 2,967 783 4,214 835 Asset-backed:Residential mortgage-backed849 22 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. September 30, 2025December 31, 2024Estimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized Losses(In millions)U.S. Government, Government agencies and Government-sponsored enterprises$1,959 $281 $2,567 $373 AAA1,367 248 1,800 282 AA3,765 633 4,247 730 A5,049 436 6,330 582 BBB7,846 627 11,548 980 Non-investment grade705 70 796 92 Total$20,691 $2,295 $27,288 $3,039 Based on current facts and circumstances, the unrealized losses presented in the September 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