Financials
Insurance - Property & Casualty
$18.37B
12.3K
Key insights and themes extracted from this filing
Net income attributable to Loews Corporation for the three months ended September 30, 2024 was $401 million, or $1.82 per share, compared to net income of $253 million, or $1.12 per share in the comparable 2023 period. This indicates a significant improvement in profitability year-over-year.
Net investment income increased $73 million and $200 million for the three and nine months ended September 30, 2024 as compared with the comparable 2023 periods, driven by favorable limited partnership and common stock returns, as well as higher income from fixed income securities as a result of favorable reinvestment rates and a larger invested asset base.
Catastrophe losses for Property & Casualty Operations were $143 million for the three months ended September 30, 2024 as compared with $94 million for the comparable 2023 period, primarily related to severe weather related events, offsetting some of the gains in net investment income.