Loews's Q2 Earnings Jump As Investment Income And Insurance Underwriting Shine
CNA Financial Corporation (NYSE:CNA) contributed $274 million in net income attributable to Loews, down from $291 million a year ago. Core income rose 3% to $335 million.
Net investment income for CNA increased due to a larger invested asset base, higher reinvestment rates, and favorable returns from limited partnerships and equities. Net written premiums grew 6%, while earned premiums increased 8%.
Also Read:
CNA's Property and Casualty underwriting income improved. Catastrophe losses fell to $62 million from $82 million. The combined ratio improved to 94.1% from 94.8%, while the underlying combined ratio was steady at 91.7%. Results included unfavorable development from legacy mass tort abuse reserves and higher investment losses.
Boardwalk Pipelines posted net income of $88 million, up from $70 million. EBITDA rose 14% to $274 million. Results were driven by higher re-contracting rates, growth projects, and increased revenues from storage and parking, and lending.
View more earnings on L
Loews Hotels & Co. recorded net income of $28 million, down from $35 million. Adjusted EBITDA rose 11% to $109 million. Gains came from the opening of three new Universal Orlando Resort hotels and improved performance at Loews Arlington Hotel.
Earnings declined due to lower equity income from joint ventures, higher depreciation and interest expenses, and reduced occupancy at the Loews Miami Beach Hotel during renovations.
The Corporate segment reported $1 million in net income, compared to a loss of $27 million last year. This was helped by higher investment income from the parent company's trading portfolio.
As of June 30, 2025, book value per share rose to $84.42 from $79.49 at year-end. Book value excluding AOCI increased to $91.66 from $88.18 as of December 31, 2024. The parent company held $3.4 billion in cash and investments and $1.8 billion in debt.
Loews repurchased 2.9 million shares for $251 million in Q2 and an additional 0.1 million shares for $9 million between July 1 and August 1.
Price Action: L shares closed 0.28% lower at 90.29 on Friday.
Read Next:Photo via Shutterstock
UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
Get the latest stock analysis from Benzinga?
This article Loews's Q2 Earnings Jump As Investment Income And Insurance Underwriting Shine originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Trump Wildly Claims Wall Street Journal And China Are In Cahoots Amid Epstein Lawsuit
President Donald Trump alleged in a bizarre rant that The Wall Street Journal wants to see China 'WIN, BABY, WIN' on Thursday. 'The reason that The Wall Street Journal Editorial Board is always negative on 'TRUMP,' and the Hundreds of Billions of Dollars we're bringing into our Country through Tariffs, numbers that the U.S.A. has never seen before, is because they are China centric or, at a minimum, Globalists, and they would rather see China and the World, for reasons unknown, 'WIN, BABY, WIN,' the POTUS wrote in a Truth Social post. Trump then insisted that if 'the United States were not able to charge Tariffs to other Countries, it would be Economically defenseless and, of no further force or effect. The only thing that can destroy our Country are Crooked, Radical Left Judges, of which there are many!' The president has faced scrutiny over his sweeping global tariffs, which went into effect Thursday, subsequently raising the prices of household goods for Americans. The tariffs are projected to affect imports from more than 60 countries. The WSJ — which has grilled the president's efforts during his second term in office — and Trump have been embroiled in an ongoing feud. The dispute ignited further after the outlet published a report about an alleged, racy birthday cardthat Trump sent to convicted sex offender and disgraced financier Jeffrey Epstein in 2003. The letter was said to contain a drawing of a naked woman and a strange message about secrets, according to the WSJ. Trump, who is suing the WSJ over its report on the letter, has denied writing the letter. 'I never wrote a picture in my life. I don't draw pictures of women,' he told the Journal. 'It's not my language. It's not my words.' The president added: 'I'm gonna sue The Wall Street Journal just like I sued everyone else.' Trump further slammed the WSJ over their report in a separate Truth Social post, calling the article a 'false, malicious, and defamatory story.' Related... Trump Fires Back At Reporters Over 'Bulls**t' Epstein Question Trump Lashes Out At 'Racist Sleazebag' Charlamagne Tha God After Epstein-MAGA Comment Trump's Sleight-Of-Hand On The Jeffrey Epstein Scandal
Yahoo
15 minutes ago
- Yahoo
Meta selects PIMCO, Blue Owl for $29 billion data center financing, Bloomberg News reports
(Reuters) -Meta has selected investment management firm PIMCO and alternative asset manager Blue Owl Capital for a $29 billion financing deal related to its data center projects in rural Louisiana, Bloomberg News reported on Thursday. Reuters could not immediately verify the report.
Bloomberg
15 minutes ago
- Bloomberg
Medical Tech Firm Heartflow Prices $317 Million IPO Above Range
Heartflow Inc. raised $317 million in its initial public offering, pricing shares above the top of a marketed range. The company, which is an artificial intelligence software platform focused on heart disease, sold 16.67 million shares at $19 each, according to a statement Thursday.
