Loews Corp. Files 2024 10-K

TL;DR

Loews Corp. 2024 10-K filed. Insurance giant details FY24 performance.

AI Summary

Loews Corp. filed its 2024 10-K on February 11, 2025, reporting on its fiscal year ending December 31, 2024. The company, primarily involved in fire, marine, and casualty insurance, is headquartered at 9 West 57th Street, New York, NY. Key financial data and business operations for the period are detailed within the filing.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Loews Corp.'s financial performance and business activities for the fiscal year 2024, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K)
• 1231 — Fiscal Year End (Indicates the end date of the reporting period)
• 20250211 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• LOEWS CORP (company) — Filer
• 0000060086 (company) — Central Index Key
• 9 WEST 57TH STREET (company) — Business Address
• NEW YORK (company) — Business City
• DE (company) — State of Incorporation
• 20241231 (date) — Fiscal Year End
• 20250211 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share L New York Stock Exchange S

Filing Documents

• l-20241231.htm (10-K) — 6337KB
• exhibit1901-q42024.htm (EX-19.01) — 37KB
• exhibit2101-q42024.htm (EX-21.01) — 26KB
• exhibit2301-q42024.htm (EX-23.01) — 3KB
• exhibit2401-q42024.htm (EX-24.01) — 18KB
• exhibit3101-q42024.htm (EX-31.01) — 14KB
• exhibit3102-q42024.htm (EX-31.02) — 14KB
• exhibit3201-q42024.htm (EX-32.01) — 5KB
• exhibit3202-q42024.htm (EX-32.02) — 5KB
• image_0.jpg (GRAPHIC) — 4KB
• l-20241231_g1.jpg (GRAPHIC) — 1233KB
• 0000060086-25-000036.txt ( ) — 34521KB
• l-20241231.xsd (EX-101.SCH) — 139KB
• l-20241231_cal.xml (EX-101.CAL) — 179KB
• l-20241231_def.xml (EX-101.DEF) — 947KB
• l-20241231_lab.xml (EX-101.LAB) — 1619KB
• l-20241231_pre.xml (EX-101.PRE) — 1355KB
• l-20241231_htm.xml (XML) — 7880KB

Business

Business CNA Financial Corporation 5 Boardwalk Pipeline Partners, LP 8 Loews Hotels Holding Corporation 14 Altium Packaging LLC 16 Human Capital 16 Information about Our Executive Officers 17 Available Information 17 1A

Risk Factors

Risk Factors 17 1B Unresolved Staff Comments 43 1C Cybersecurity 43 2

Legal Proceedings

Legal Proceedings 44 4 Mine Safety Disclosures 44 PART II 5 Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 44 6 [Reserved] 46 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 47 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 78 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 82 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 165 9A

Controls and Procedures

Controls and Procedures 165 9B Other Information 165 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 165 PART III 10 Directors, Executive Officers and Corporate Governance 166 11

Executive Compensation

Executive Compensation 166 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 166 13 Certain Relationships and Related Transactions, and Director Independence 166 14 Principal Accounting Fees and Services 166 PART IV 15 Exhibits and Financial Statement Schedules 167 16 Form 10-K Summary 170 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Investors are cautioned that certain statements contained in this Report as well as in other filings with the Securities and Exchange Commission ("SEC") and periodic press releases made by us and our subsidiaries and certain statements made by us and our subsidiaries and our and their officers during presentations may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include any statement that does not directly relate to any historical or current fact. Forward-looking statements may project, indicate or imply future results, events, performance or achievements, and such statements may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "will be," "will continue," "will likely result," and similar expressions. In addition, any statement concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible actions taken by us or our subsidiaries are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to a variety of risks and uncertainties, many of which are beyond our or our subsidiaries' control, that could cause actual results to differ materially from those anticipated or projected. Developments in any of the risks or uncertainties facing us or our subsidiaries, including those described under Item 1A, Risk Factors of this Report and in our and our subsidiaries' other filings with the SEC, could cause our and our subsidiaries' results to differ materially from results that have been or may be anticipated or projected. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made and w

Business

Item 1. Business. Loews Corporation was incorporated in 1969 and is a holding company. Our subsidiaries are engaged in the following lines of business: commercial property and casualty insurance (CNA Financial Corporation, an approximately 92% owned subsidiary); transportation and storage of natural gas and natural gas liquids (Boardwalk Pipeline Partners, LP, a wholly owned subsidiary); and operation of a chain of hotels (Loews Hotels Holding Corporation, a wholly owned subsidiary). We also own approximately 53% of Altium Packaging LLC, an unconsolidated subsidiary, which is engaged in the manufacture of rigid plastic packaging solutions. We have four reportable segments comprised of three individual consolidated operating subsidiaries, CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation; and the Corporate segment. The Corporate segment is comprised of Loews Corporation, excluding these subsidiaries, and the equity method of accounting for Altium Packaging LLC, an unconsolidated subsidiary. Additional financial information on each of our segments is included under Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A"). CNA FINANCIAL CORPORATION CNA Financial Corporation (together with its subsidiaries, "CNA") is an insurance holding company. CNA's property and casualty and remaining life and group insurance operations are primarily conducted by Continental Casualty Company ("CCC"), The Continental Insurance Company, Western Surety Company, CNA Insurance Company Limited, Hardy Underwriting Bermuda Limited and its subsidiaries ("Hardy") and CNA Insurance Company (Europe) S.A. CNA accounted for 81.5% , 83.6% and 84.6% of our consolidated total revenue for the years ended December 31, 2024, 2023 and 2022. CNA's insurance products primarily include commercial property and casualty coverages, including surety. CNA's services include warranty, risk management, inf

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View this 10-K filing on SEC EDGAR