Loews Corp. Files 8-K/A Amendment

TL;DR

Loews Corp. filed an amendment to an 8-K, check for updates on 'Other Events'.

AI Summary

Loews Corp. filed an amendment (8-K/A) on October 4, 2024, to a previous filing concerning events on September 18, 2024. The filing pertains to "Other Events" and does not provide specific details on new transactions or financial figures within the provided text.

Why It Matters

This filing indicates an update or correction to a previous report, suggesting ongoing corporate actions or disclosures by Loews Corp. that may be relevant to investors.

Risk Assessment

Risk Level: low — The filing is an amendment to a previous report and does not contain new material financial information or significant corporate changes that would inherently increase risk.

Key Players & Entities

• LOEWS CORP (company) — Registrant
• 0000060086-24-000189 (filing_id) — Accession Number
• September 18, 2024 (date) — Date of earliest event reported
• October 4, 2024 (date) — Filing Date
• New York, NY (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value L New York Stock Exchange I
• $1,045 million — l transfer to the Insurer approximately $1,045 million of the Plan's defined benefit pension o
• $370 million — sion settlement charge of approximately $370 million ($265 million, net of tax and noncontro
• $265 m — t charge of approximately $370 million ($265 million, net of tax and noncontrolling in

Filing Documents

• l-20240918.htm (8-K/A) — 30KB
• 0000060086-24-000189.txt ( ) — 150KB
• l-20240918.xsd (EX-101.SCH) — 2KB
• l-20240918_lab.xml (EX-101.LAB) — 21KB
• l-20240918_pre.xml (EX-101.PRE) — 12KB
• l-20240918_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events. On October 3, 2024, the CNA subsidiary, as Plan sponsor, entered into a commitment agreement with Metropolitan Life Insurance Company (the "Insurer") under which the Plan agreed to purchase a nonparticipating single premium group annuity contract that will transfer to the Insurer approximately $1,045 million of the Plan's defined benefit pension obligations. The purchase of the group annuity contract is anticipated to close on October 10, 2024, subject to customary closing conditions. The contract will cover approximately 7,600 Plan participants and beneficiaries (the "Transferred Participants"), representing approximately 60% of the Plan's obligations. Under the group annuity contract, the Insurer will make an irrevocable commitment, and will be solely responsible, to pay the pension benefits of each Transferred Participant that are due on and after January 1, 2025. The transaction will result in no changes to the amount of benefits payable to the Transferred Participants. The purchase of the group annuity contract will be funded directly by assets of the Plan and will not require any cash or asset contributions from CNA. As a result of the transaction, the Registrant currently expects to recognize a one-time non-cash pretax pension settlement charge of approximately $370 million ($265 million, net of tax and noncontrolling interests) in the fourth quarter of 2024. This charge is largely driven by the accelerated recognition of the actuarial pension loss from Accumulated other comprehensive income into Net income, which such acceleration does not impact Shareholders' equity. The actual charge will depend on finalization of actuarial and other assumptions. This charge will not impact cash flow for the fourth quarter or full year 2024.

Forward-Looking Statements

Forward-Looking Statements 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LOEWS CORPORATION (Registrant) Dated: October 4, 2024 By: /s/ Marc A. Alpert Marc A. Alpert Senior Vice President, General Counsel and Secretary 3

View Full Filing

View this 8-K/A filing on SEC EDGAR