Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 13

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 46 DSCR ≤1.2xLTV less than 55%6 21 27 LTV 55% to 65%37 16 74 20 147 LTV greater than 65%35 21 48 104 Total$62 $101 $126 $231 $76 $484 $1,080 (a)The values in the table above reflect DSCR on a standardized amortization period and LTV ratios based on the most recent appraised values trended forward using changes in a commercial real estate price index.Derivative Financial InstrumentsA summary of the aggregate contractual or notional amounts and gross estimated fair values related to derivative financial instruments follows. The contractual or notional amounts for derivatives are used to calculate the exchange of contractual payments under related agreements and may not be representative of the potential for gain or loss on these instruments. Gross estimated fair values of derivative positions are currently presented in Equity securities, Receivables and Payable to brokers on the Consolidated Condensed Balance Sheets.June 30, 2025December 31, 2024Contractual/Notional AmountEstimated Fair Value Contractual/Notional AmountEstimated Fair Value Asset(Liability) Asset(Liability) (In millions)Without hedge designation:Equity markets:Options – purchased$67 $1 $268 $2 Futures – short5 167 1 Warrants1 1 1 1 Interest rate swaps478 300 4 Credit default swap index - purchased2,000 

17

In the fourth quarter of 2024, the Company entered into credit default swap index transactions that would potentially benefit from widening investment grade credit spreads associated with the underlying securities that comprised the index. The position was closed during the second quarter of 2025. As of December 31, 2024, the notional value of the credit default swap index was $2 billion and the fair value was less than $1 million, which was recognized in Payable to brokers in the Consolidated Balance Sheets. The fair value of the position was measured using observable market inputs, including credit spreads. For the three and six months ended June 30, 2025, Net investment income related to the position was $16 million and $19 million.Investment Commitments

As part of the overall investment strategy, investments are made in various assets which require future purchase, sale or funding commitments. These investments are recorded once funded, and the related