On September 29, 2023, Boardwalk Pipelines acquired Williams Olefins Pipeline Holdco LLC, renamed Boardwalk Ethane Pipeline Holdco, LLC (“Bayou Ethane”) after the acquisition, from Williams Field Services Group, LLC. Bayou Ethane provides ethane supply and transportation services for industrial customers in Louisiana and Texas.

Loews Hotels & Co acquired all of the remaining outstanding noncontrolling equity interest of an owned and consolidated hotel for $30 million in the second quarter of 2024. In addition, Loews Hotels & Co received aggregate proceeds of $23 million for the sale of an owned hotel in the first quarter of 2024.

CNA generally seeks to manage its exposure through the purchase of catastrophe reinsurance and utilizes various reinsurance programs to mitigate catastrophe losses, including excess-of-loss occurrence and aggregate treaties covering property and workers' compensation.

Loews Corporation repurchased 2.6 million and 10.0 million shares of its common stock at aggregate costs of $199 million and $593 million during the six months ended June 30, 2024 and 2023.

CNA paid cash dividends of $2.88 per share on its common stock, including a special cash dividend of $2.00 per share, during the six months ended June 30, 2024.

For the six months ended June 30, 2024 and 2023, Boardwalk Pipelines' capital expenditures were $196 million and $151 million, consisting of growth capital expenditures of $124 million and $95 million and maintenance capital expenditures of $72 million and $56 million.

Catastrophe losses for Property & Casualty Operations were $82 million for the three months ended June 30, 2024 as compared with $68 million for the comparable 2023 period.

Operating revenues also improved due to consolidating the results of a property previously accounted for under the equity method, higher occupancy levels at many city center hotels as a result of the continued recovery in group travel in 2024 as compared with the comparable 2023 periods and an increase in food and beverage revenues.

Boardwalk Pipelines' transportation revenues increased $15 million, primarily due to re-contracting at higher rates and recently completed growth projects

As a result of this variability, CNA's future policy benefits reserves may be subject to material increases if actual experience develops adversely to its expectations.

Boardwalk Pipelines' operations and maintenance expenses are impacted by its compliance with the requirements of, among other regulations, the Pipeline and Hazardous Materials Safety Administration Mega Rule and Boardwalk Pipelines' efforts to monitor, control and reduce emissions

The Company is from time to time party to other litigation arising in the ordinary course of business. While it is difficult to predict the outcome or effect of any litigation, management does not believe that the outcome of any pending litigation, including the Boardwalk Pipelines matter described above, will materially affect the Company's results of operations or equity.