Loews Arlington Hotel and Convention Center in Arlington, Texas opened in the first quarter of 2024. Loews Hotels & Co acquired the remaining outstanding noncontrolling interest in this property in the fourth quarter of 2024.

Universal Stella Nova Resort, a 750 guestroom hotel, opened on January 21, 2025. Universal Terra Luna Resort, a 750 guestroom hotel, and Universal Helios Grand Hotel, a Loews Hotel, a 500 guestroom hotel, are expected to open in Universal Orlando in 2025.

Boardwalk Pipelines placed into service approximately $245 million of growth projects in 2024 and expects to spend approximately $1.6 billion on its ongoing and announced growth projects, with expected in-service dates ranging from 2025-2029.

In 2024, Loews purchased 7.7 million shares of its common stock. As of February 7, 2025, Loews had purchased an additional 1.9 million shares of Loews Corporation common stock in 2025 at an additional aggregate cost of $164 million.

CNA's increase in net income is primarily due to higher net investment income and improved underlying underwriting results, partially offset by higher catastrophe losses. CNA must continuously allocate resources to refine and improve its insurance products and services to remain competitive.

Boardwalk Pipelines seeks to carefully monitor its emissions and expects to incur additional costs to mitigate emissions. Boardwalk Pipelines recognizes that relative to certain other fossil fuels, natural gas has an important role in reducing GHG emissions.

If CNA determines that its recorded insurance reserves are insufficient to cover its estimated ultimate unpaid liability for claim and claim adjustment expenses, CNA may need to increase its insurance reserves which would result in a charge to CNA's earnings.

Catastrophe losses are an inevitable part of CNA's business. Various events can cause catastrophe losses. These events can be natural or man-made, and may include hurricanes, tornadoes, windstorms, earthquakes, hail, severe winter weather, droughts, fires, floods, riots, strikes, civil unrest, cyber-attacks, pandemics and acts of terrorism.

Boardwalk Pipelines' and its customers' operations are subject to a series of risks regarding climate change. Climatic conditions could adversely impact Boardwalk Pipelines' operations, pipelines and facilities, or those of its customers or suppliers.

All aspects of the insurance industry are highly competitive and CNA must continuously allocate resources to refine and improve its insurance products and services to remain competitive. CNA competes with a large number of stock and mutual insurance companies and other entities, some of which may be larger or have greater financial or other resources than CNA does, for both distributors and customers.

Loews Hotels & Co operates in a highly competitive industry, both for customers and for the acquisition and/or development of new properties. The hospitality industry is highly competitive. Loews Hotels & Co's properties compete with other hotels, cruises and alternative accommodations based on a number of factors, including room rates, quality of accommodations, service levels and amenities, location, brand affiliation, reputation and reservation systems.

Boardwalk Pipelines may face opposition to the operation of its pipelines and facilities, construction or expansion of facilities and new pipeline projects from various groups. Such opposition could take many forms, including organized protests, attempts to block or sabotage Boardwalk Pipelines' operations, acts of eco-terrorism, intervention in regulatory or administrative proceedings involving Boardwalk Pipelines' assets, or lawsuits or other actions designed to prevent, disrupt or delay the operation of its assets and business.

CNA must continuously allocate resources to refine and improve its insurance products and services to remain competitive. This includes managing expenses effectively.

Boardwalk Pipelines may not be able to recover its costs, including certain costs associated with pipeline integrity, through existing or future rates.

Loews Hotels & Co's properties are subject to various operating risks common to the hospitality industry, many of which are beyond Loews Hotels & Co's control, including changes in general economic conditions, increases in the costs of supplies, furniture, fixtures, equipment, labor, workers' compensation, benefits, insurance, food and beverage, commodities, energy and unanticipated costs or cost increases due to inflation or resulting from force majeure events, new or different federal, state or local governmental regulations, including tariffs, constrained supply, and other factors that may not be offset by increased revenues.

CNA continues to make investments to improve its security and infrastructure. CNA must continuously allocate resources to refine and improve its insurance products and services to remain competitive.

Technological changes in the way insurance transactions are completed in the marketplace, and CNA's ability to react effectively to such change, may present significant competitive risks. For example, more insurers are utilizing or may begin utilizing "big data" analytics or artificial intelligence to make underwriting or other decisions that impact product design and pricing.

The Department of Homeland Security's Transportation Safety Administration (“TSA”) has issued a series of security directives between 2022 and 2024 applicable to major pipeline owners and operators intended to strengthen the industry's overall cybersecurity posture in light of the evolving threat landscape and its potential impacts to U.S. critical infrastructure.

In 2024, Loews purchased 7.7 million shares of Loews Corporation common stock. As of February 7, 2025, Loews had purchased an additional 1.9 million shares of Loews Corporation common stock in 2025 at an additional aggregate cost of $164 million.

Boardwalk Pipelines placed into service approximately $245 million of growth projects in 2024 and expects to spend approximately $1.6 billion on its ongoing and announced growth projects, with expected in-service dates ranging from 2025-2029.

Loews Hotels & Co from time to time renovates its properties and, together with joint venture partners, is currently expanding its portfolio through the ground-up construction of new properties in Orlando, Florida and in the future may similarly, alone or with joint venture partners, develop additional new properties.

Boardwalk Pipelines has identified the reduction of GHG emissions as an area of focus and looks for opportunities to reduce emissions using a variety of strategies, including evaluating replacing older compression equipment with electric drive compression or new low emission, fuel efficient units when practical.

Companies across all industries are facing increasing scrutiny from stakeholders related to their ESG practices. Certain influential investors in recent years have been focused on ESG practices and have placed increasing importance on the implications and social cost of their investments.

Our subsidiaries have extensive obligations and financial exposure related to compliance with federal, state, local, foreign and international environmental laws, including those relating to the discharge of substances into the environment, the disposal, removal or cleanup of hazardous wastes and other activities relating to the protection of the environment.

The hospitality industry is seasonal in nature. The periods during which Loews Hotels & Co's properties experience higher revenues vary from property to property, depending principally upon location and the consumer base served. Historically, Loews Hotels & Co generally has experienced revenues and earnings that are lower in the third quarter of each year than in each of the other quarters.

Boardwalk Pipelines' business, operations and financial condition may be adversely impacted as a result of negative public opinion. Boardwalk Pipelines operates in an industry that receives negative portrayals and opposition to development projects.

All aspects of the insurance industry are highly competitive and CNA must continuously allocate resources to refine and improve its insurance products and services to remain competitive. CNA competes with a large number of stock and mutual insurance companies and other entities, some of which may be larger or have greater financial or other resources than CNA does, for both distributors and customers.