LOEWS CORP

For the period ended Dec 31, 2024. Filed Feb 11, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 11, 2025

L$109.94+0.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 16. Form 10-K Summary

Not included.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
	LOEWS CORPORATION
Dated:	February 11, 2025	By	/s/ Jane J. Wang
		(Jane J. Wang, Senior Vice President and
		Chief Financial Officer)
Dated:	February 11, 2025	By	*
		(Benjamin J. Tisch, President,
		Chief Executive Officer and Director)
Dated:	February 11, 2025	By	*
		(Jane J. Wang, Senior Vice President and
		Chief Financial Officer)
Dated:	February 11, 2025	By	*
		(Mark S. Schwartz, Vice President,
		Chief Accounting Officer and Treasurer)
Dated:	February 11, 2025	By	*
		(Ann E. Berman, Director)
Dated:	February 11, 2025	By	*
		(Charles D. Davidson, Director)
Dated:	February 11, 2025	By	*
		(Charles M. Diker, Director)

Dated:	February 11, 2025	By	*
		(Paul J. Fribourg, Director)
Dated:	February 11, 2025	By	*
		(Walter L. Harris, Director)
Dated:	February 11, 2025	By	*
		(Jonathan C. Locker, Director)
Dated:	February 11, 2025	By	*
		(Susan P. Peters, Director)
Dated:	February 11, 2025	By	*
			(Alexander H. Tisch, Director)
Dated:	February 11, 2025	By	*
		(James S. Tisch, Director)
Dated:	February 11, 2025	By	*
		(Anthony Welters, Director)

*By:	/s/ Marc A. Alpert
	(Marc A. Alpert, Senior Vice President, General
	Counsel and Secretary)
	Attorney-in-Fact

SCHEDULE I

Condensed Financial Information of Registrant

BALANCE SHEETS

ASSETS

December 31	2024	2023
(In millions)
Current assets, principally investment in short-term instruments	$2,222	$2,149
Investments in securities	1,170	568
Investments in capital stocks of subsidiaries, at equity	15,623	14,889
Other assets	95	76
Total assets	$19,110	$17,682
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$143	$102
Long-term debt	1,785	1,782
Deferred income tax and other	116	94
Total liabilities	2,044	1,978
Shareholders’ equity	17,066	15,704
Total liabilities and shareholders’ equity	$19,110	$17,682

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

Year Ended December 31	2024	2023	2022
(In millions)
Revenues:
Equity in income of subsidiaries (a)	$1,328	$1,501	$963
Net investment income, interest and other	261	131	1
Investment loss
Total	1,589	1,632	964
Expenses:
Administrative	76	119	84
Interest	75	80	89
Total	151	199	173
Income before income tax	1,438	1,433	791
Income tax (expense) benefit	(24)	1	31
Net income	1,414	1,434	822
Equity in other comprehensive income (loss) of subsidiaries	630	884	(2,000)
Total comprehensive income (loss)	$2,044	$2,318	$(1,178)

SCHEDULE I

(Continued)

Condensed Financial Information of Registrant

STATEMENTS OF CASH FLOWS

Year Ended December 31 · 2024 · 2023 · 2022
(In millions)
Operating Activities:
Net income	$1,414		$1,434		$822
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Equity method investees	(67)		(512)		(3)
Provision (benefit) for deferred income taxes	4		(4)		(49)
Changes in operating assets and liabilities, net:
Receivables	(6)		10		(11)
Accounts payable and accrued liabilities	(12)		(9)		(47)
Trading securities	(695)		576		153
Other, net	2		109		39
	640		1,604		904
Investing Activities:
Investments in and advances to subsidiaries	2		(217)		(137)
Change in investments, primarily short-term	27		29		30
Other		(11)		(9)
	29		(199)		(116)
Financing Activities:
Dividends paid	(55)		(57)		(61)
Purchases of treasury shares	(608)		(849)		(729)
Payment of debt		(500)
Other	(4)		(5)		(7)
	(667)		(1,411)		(797)
Net change in cash	2		(6)		(9)
Cash, beginning of year	4		10		19
Cash, end of year	$6		$4		$10

(a)	Cash dividends paid to the Company by affiliates amounted to approximately $1.3 billion, $1.0 billion and $1.0 billion for the years ended December 31, 2024, 2023 and 2022.

SCHEDULE V

LOEWS CORPORATION AND SUBSIDIARIES

Supplemental Information Concerning Property and Casualty Insurance Operations

Consolidated Property and Casualty Operations
December 31	2024	2023
(In millions)
Deferred acquisition costs	$959	$896
Reserves for unpaid claim and claim adjustment expenses	24,976	23,304
Discount deducted from claim and claim adjustment expense reserves above (based on interest rates ranging from 3.5% to 6.6%)	615	647
Unearned premiums	7,346	6,933

Year Ended December 31	2024	2023	2022
(In millions)
Net written premiums	$10,605	$9,892	$9,128
Net earned premiums	10,211	9,480	8,667
Net investment income	2,396	2,163	1,751
Incurred claim and claim adjustment expenses related to current year	6,330	5,667	5,181
Incurred claim and claim adjustment expenses related to prior years	42	48	(32)
Amortization of deferred acquisition costs	1,798	1,644	1,490
Paid claim and claim adjustment expenses	5,189	4,601	4,302

ContentsView on SEC.gov

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