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olivLaw · US equity research

Loews Corporation L

Fire, Marine & Casualty Insurance · SIC 6331 · Vertical: Fire, Marine & Casualty Insurance (SIC 6331)

111.67USD+1.55% · 1 dayClose 04 Nov 2026

Loews Corporation is a diversified holding company with operations in commercial property and casualty insurance (through CNA), natural gas and natural gas liquids transportation and storage (through Boardwalk), and hotels. In fiscal 2025 CNA accounted for 81.2% of consolidated total revenue, and in the first half of 2026 the company reported net income attributable to Loews of 781 million USD, a profile relevant for investors weighing insurance against energy infrastructure exposure.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Loews Corporation (L) stock was 111.67 USD (+1.55% on the day), with market capitalisation 22.6 bn USD, P/E 15.4 on diluted EPS of 7.23 USD over the last 12 months, dividend yield 0.22%, beta 0.42, 52-week range 100.86–119.40 USD. Latest reported quarter (Q3 2026): revenue of 4.8 bn USD (+1.9% YoY), net income of 306.0 m USD (−39.3% YoY), diluted EPS 1.50 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
22.6 bn USD
shares as of 30 Oct 2026
P/E (TTM)
15.4
Diluted EPS TTM 7.23 · TTM to 30 Sept 2026
E/P (TTM)
6.48%
TTM to 30 Sept 2026
Dividend yield
0.22%
DPS 12m 0.25
Beta (2y)
0.42
Volatility (1y) 16%
52-week range
100.86119.40

Price history

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Technical reading

RSI (14)
57.3
strong (55–70)
Bollinger (20, 2)
106.89 – 113.77
in the upper half of the band · %B 0.70 · band width 6.2%
SMA 50 / 200
108.65 / 109.51
mixed trend
MACD (12, 26, 9)
0.85 / 0.85
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+5.7%−1.1%+6.8 pp—
3 months−3.5%−0.5%−3.1 pp—
6 months+6.1%+4.4%+1.7 pp—
Year to date+6.0%+12.3%−6.3 pp—
1 year+11.0%+13.5%−2.6 pp+13.7%
3 years+69.7%+76.4%−6.7 pp+58.6%
5 years+95.2%+63.7%+31.5 pp—
Max drawdown (1y)
−12.5%
28 Jul 2026 → 30 Sept 2026
Max drawdown (5y)
−26.3%
20 Apr 2022 → 26 Sept 2022
Compound annual growth (5y)
+14.3%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 30 Sept 2026

Revenue
4.8 bn USD
+1.9% YoY
Net income
306.0 m USD
−39.3% YoY
Diluted EPS
1.50
−38.3% YoY
net / operating
6.4% / unavailable

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue4.5 bn4.5 bn4.6 bn4.7 bn4.7 bn4.6 bn4.7 bn4.8 bn
Interest expense110.0 m105.0 m107.0 m112.0 m113.0 m113.0 m103.0 m101.0 m
Pre-tax income188.0 m514.0 m539.0 m689.0 m541.0 m463.0 m612.0 m406.0 m
Income tax-1.0 m122.0 m123.0 m153.0 m113.0 m109.0 m141.0 m84.0 m
Net income187.0 m370.0 m391.0 m504.0 m402.0 m337.0 m444.0 m306.0 m
Diluted EPS0.86 ≈1.741.872.431.94 ≈1.632.161.50
Operating cash flow941.0 m736.0 m1.0 bn ≈920.0 m ≈617.0 m72.0 m966.0 m ≈954.0 m ≈
Capex174.0 m98.0 m134.0 m ≈156.0 m ≈191.0 m204.0 m258.0 m ≈263.0 m ≈
Dividends paid13.0 m13.0 m13.0 m ≈13.0 m ≈13.0 m13.0 m13.0 m ≈13.0 m ≈
Share repurchases346.0 m394.0 m257.0 m ≈55.0 m ≈100.0 m31.0 m154.0 m ≈149.0 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 62 percentile of its own 39-quarter history (min 8.8, median 14.4, max 1,260.2; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue14.1 bn14.9 bn12.6 bn14.7 bn14.0 bn15.9 bn17.5 bn18.5 bn
Revenue YoY+2.4%+6.1%−15.7%+16.5%−4.2%+13.2%+10.1%+5.4%
Net income636.0 m932.0 m-931.0 m1.6 bn822.0 m1.4 bn1.4 bn1.7 bn
Net income YoY−45.4%+46.5%−199.9%unavailable−47.4%+74.5%−1.4%+17.9%
Diluted EPS1.993.07-3.326.003.386.296.417.97
Diluted EPS YoY−42.3%+54.3%−208.1%unavailable−43.7%+86.1%+1.9%+24.3%
net %4.5%6.2%-7.4%10.7%5.9%9.0%8.1%9.0%
Free cash flow3.2 bn700.0 m1.0 bn2.1 bn2.7 bn3.2 bn2.4 bn2.7 bn

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
495.0 m USD
Financial debt
1.1 bn USD
Net debt
557.0 m USD
Equity
19.6 bn USD
Total assets
86.3 bn USD
Debt / equity
0.05x
Current ratio
unavailable
ROE
8.9%
ROA
2.0%
FCF margin
14.6%

Financial statements (source on every figure)

Revenue and net income (USD)

Income statement · USD

Pre-tax income
2023
2.0 bn
2024
1.9 bn
2025
2.3 bn

SEC (XBRL)· 10 Feb 2026verified

Net income
2023
1.4 bn
2024
1.4 bn
2025
1.7 bn

SEC (XBRL)· 10 Feb 2026verified

Diluted EPS
2023
6.29
2024
6.41
2025
7.97

SEC (XBRL)· 10 Feb 2026verified

Dividend per share
2023
0.25
2024
0.25
2025
0.25

SEC (XBRL)· 10 Feb 2026verified

Balance sheet · USD

Cash
2023
399.0 m
2024
541.0 m
2025
495.0 m

SEC (XBRL)· 10 Feb 2026verified

Loans
2023
—
2024
—
2025
—

SEC (XBRL)· 07 May 2021verified

Total assets
2023
79.2 bn
2024
81.9 bn
2025
86.3 bn

SEC (XBRL)· 10 Feb 2026verified

Short-term debt
2023
1.1 bn
2024
5.0 m
2025
1.1 bn

SEC (XBRL)· 10 Feb 2026verified

Long-term debt
2023
—
2024
—
2025
—

SEC (XBRL)· 07 May 2021verified

Total liabilities
2023
62.7 bn
2024
64.0 bn
2025
66.7 bn

SEC (XBRL)· 10 Feb 2026verified

Equity
2023
16.5 bn
2024
17.9 bn
2025
19.6 bn

SEC (XBRL)· 10 Feb 2026verified

Cash flow · USD

Dividends paid
2023
57.0 m
2024
55.0 m
2025
52.0 m

SEC (XBRL)· 10 Feb 2026verified

Share repurchases
2023
849.0 m
2024
608.0 m
2025
806.0 m

SEC (XBRL)· 10 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
5.4%
computed by olivLawFY 2025
Revenue CAGR 3Y
9.5%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
8.0%
computed by olivLawFY 2020 → FY 2025
Net income growth (YoY)
17.9%
computed by olivLawFY 2025
Net income CAGR 3Y
26.6%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
24.3%
computed by olivLawFY 2025
EPS CAGR 3Y
33.1%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
the base of the ratio is not positive

Profitability

Net margin
7.9%
computed by olivLawTTM to 30 Sept 2026

Returns

ROE
8.1%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROA
1.7%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Payout ratio (EPS)
3.5%
computed by olivLawTTM to 30 Sept 2026

Market and valuation

Market capitalisation
22.6 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Market cap / net income TTM
15.2x
computed by olivLawTTM to 30 Sept 2026
P/E (TTM)
15.4x
computed by olivLawTTM to 30 Sept 2026
Earnings yield
6.5%
computed by olivLawTTM to 30 Sept 2026
P/B
1.2x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
1.2x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Dividend yield
0.2%
computed by olivLawTTM to 30 Sept 2026
Shareholder yield (distributions)
2.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

Insurance

Loss ratio
unavailable
input data missing

32 indicators that do not apply to the sector.

Valuation

olivLaw classification

Unattractive profile

Score: 46 / 100

A scoring methodology on indicators and valuation, not investment advice.

(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])

Closing price

111.67 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 22.6 bn USD

Key indicators

Market capitalisation
22.6 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
15.4x
computed by olivLawTTM to 30 Sept 2026
P/B
1.2x
computed by olivLawbalance sheet at 30 Sept 2026
ROE
8.1%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Net margin
7.9%
computed by olivLawTTM to 30 Sept 2026
Revenue growth (YoY)
5.4%
computed by olivLawFY 2025
Dividend yield
0.2%
computed by olivLawTTM to 30 Sept 2026

Coverage and freshness

13/20 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 30 Oct 2026
Source: SEC (XBRL)published 02 Nov 2026
verified 2165derived 163

Score by group

  • Balance sheet50
  • Valuation45
  • Quality0
  • Growth98
  • Returns38

Estimated value range

Low
75.79
USD per share
Mid
84.47
USD per share
High
92.85
USD per share
Price: 111.67 USD
The price is above the range
Potential to the central value: -24.4% (value / price − 1)
Margin of safety: -32.2% (1 − price / value)
Agreement between methods: high · 4 methods used · 3 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 64.79 – 224.17 USD.

Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • Residual income86.16 – 90.17 (Mid 88.13)
  • Justified P/B65.42 – 87.98 (Mid 75.04)
  • Dividend discount (DDM)outside the aggregate3.29 – 4.42 (Mid 3.77)
    a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
  • Peers: P/E64.79 – 95.53 (Mid 80.80)
    11 companies used · median multiple 11.2x · quartiles 9.0x – 13.2x
    ACGL, AIG, ALL, CB, CINF, EG, HIG, MKL, PGR, TRV, WRB
  • Peers: P/B129.37 – 224.17 (Mid 176.71)
    11 companies used · median multiple 2.0x · quartiles 1.4x – 2.5x
    ACGL, AIG, ALL, CB, CINF, EG, HIG, MKL, PGR, TRV, WRB
Multiple comparisons use the SIC vertical: Fire, Marine & Casualty Insurance (SIC 6331)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Unattractive profile · Score 46/100

FactorValueScoreWeight used
ROE · Quality8.1%0 (vs peers)20%
Loss ratio · Qualityunavailableunavailable—
EPS CAGR 3Y · Growth33.1%100 (on a fixed band)11%
Revenue CAGR 3Y · Growth9.5%95 (on a fixed band)9%
ROA · Balance sheet1.7%50 (on a fixed band)9%
P/B · Valuation1.2x82 (vs peers)16%
P/E (TTM) · Valuation15.4x9 (vs peers)16%
Dividend yield · Returns0.2%0 (vs peers)11%
Payout ratio (EPS) · Returns3.5%100 (on a fixed band)7%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet50/100 · 1/1 factors with a value
  • Growth98/100 · 2/2 factors with a value
  • Quality· partial0/100 · 1/2 factors with a value
  • Returns38/100 · 2/2 factors with a value
  • Valuation45/100 · 2/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

LOEWS CORP (L). Latest full fiscal year: 2025; data up to 2026-09-30.

Figures computed from the financial statements: YoY growth 5.4%; net margin 7.9%; ROE 8.1%.

The estimated value range is 75.79–92.85 USD per share (median of 4 methods, agreement: high); assumptions are illustrative. Against the central value of 84.47 USD, the price of 111.67 USD leaves a potential of -24.4% (value / price − 1) and a margin of safety of -32.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 46/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: quality. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • EPS CAGR 3Y: 33.1%
  • Revenue CAGR 3Y: 9.5%
  • P/B: 1.2x
  • Payout ratio (EPS): 3.5%

What contradicts it

  • ROE: 8.1%
  • P/E (TTM): 15.4x
  • Dividend yield: 0.2%
  • The price is above the estimated value range

Not assessed (insufficient data or a ratio without meaning): Loss ratio.

Versus the vertical median

Fire, Marine & Casualty Insurance (SIC 6331) · same industry (4-digit SIC) · compared with 11 companies

Only companies with a capitalisation between 2.9 bn and 185.9 bn (within 8× of the company's); 46 of the vertical were left out.

Multiples and returns vs the median

P/E
15.4x
vertical median 11.2x
above median (+38.2%)
EV/EBITDA
—
vertical median —
P/S
1.2x
vertical median 1.5x
below median (−21.3%)
P/B
1.2x
vertical median 2.0x
below median (−36.8%)
ROE
8.1%
vertical median 18.7%
below median (−56.6%)
Net margin
7.9%
vertical median 15.4%
below median (−48.6%)
EBIT margin
—
vertical median —
Revenue YoY
5.4%
vertical median 6.5%
below median (−17.6%)
Net debt/EBITDA
—
vertical median —
Dividend yield
0.2%
vertical median 1.9%
below median (−88.3%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
CBChubb Limited143.0 bn13.115.5%18.2%+6.5%+26% / +63%
PGRProgressive Corp136.0 bn11.833.2%12.7%+16.3%+3% / +43%
TRVTravelers Companies, Inc.83.9 bn10.727.5%17.0%+5.2%+40% / +127%
ALLAllstate Corp66.6 bn6.138.9%16.6%+5.6%+26% / +95%
AIGAmerican International Group, Inc.42.4 bn13.38.2%11.9%−1.7%+7% / +24%
HIGThe Hartford Insurance Group, Inc.36.9 bn8.324.7%15.4%+6.9%+1% / +77%
ACGLArch Capital Group Ltd.36.0 bn9.018.7%23.3%+14.3%+18% / +32%
CINFCincinnati Financial Corporation29.2 bn11.216.9%20.1%+11.4%+14% / +85%
WRBBerkley W R Corp28.5 bn16.219.2%12.5%+7.8%−1% / +59%
MKLMarkel Group Inc.23.9 bn14.19.8%11.4%+4.7%−6% / +36%
LLoews Corp22.6 bn15.48.1%7.9%+5.4%+11% / +70%
EGEverest Group, Ltd.15.6 bn8.912.8%11.7%+1.2%+34% / +3%

1- and 3-year price returns: for L from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
70.58
Total return -37% · Per year -37%
124.49
Total return 12% · Per year 12%
187.13
Total return 68% · Per year 68%
3 years
75.60
Total return -32% · Per year -12%
149.35
Total return 35% · Per year 10%
245.46
Total return 121% · Per year 30%
5 years
80.98
Total return -26% · Per year -6%
179.18
Total return 62% · Per year 10%
321.97
Total return 190% · Per year 24%
What moves the 3-year price the most
  • Exit P/E± 37.34
  • Net margin± 26.14
  • Annual revenue growth± 20.47
  • Annual dilution± 2.20

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 03 Aug 2026; since then the company filed 10-Q (02 Nov 2026), 8-K (02 Nov 2026 · results).

In brief

Loews Corporation is a diversified holding company with operations in commercial property and casualty insurance (through CNA), natural gas and natural gas liquids transportation and storage (through Boardwalk), and hotels. In fiscal 2025 CNA accounted for 81.2% of consolidated total revenue 1, and in the first half of 2026 the company reported net income attributable to Loews of 781 million USD 3, a profile relevant for investors weighing insurance against energy infrastructure exposure.

SWOT

Strengths

  • Diversification across insurance, energy and hospitality reduces dependence on any single economic cycle 13.
  • The parent holds substantial cash and investments and continued repurchasing shares in 2026 3.
  • Boardwalk operates an extensive pipeline and storage network with contracts that have lifted revenues 13.

Weaknesses

  • Insurance results are sensitive to reserve estimates, which involve high judgment and can require increases that hit earnings 1.
  • The parent company does not guarantee subsidiary debt and subsidiary creditors have priority over subsidiary assets, limiting direct access to that capital 12.
  • The Property and Casualty combined ratio worsened in 2026 on higher loss costs and lower-than-expected rate 3.

Opportunities

  • If Boardwalk's contracting rates and growth projects continue, segment revenues could keep rising 13.
  • If investment returns stay favourable, investment income could continue to support CNA results despite underwriting pressure 3.
  • A full return of the renovated Loews Miami Beach Hotel could support further hotel segment growth 3.

Threats

  • Social inflation and legislation that extends claim limitation periods could raise claim severity 1.
  • Natural and man-made catastrophes, including cyber-attacks, pose unpredictable losses for insurance operations 1.
  • Environmental regulation and tariff policy changes could affect costs and demand in energy and insurance 1.

Risks

  • Reserve adequacyhigh

    If CNA's recorded reserves prove insufficient, the company could be required to increase them, with a negative effect on earnings in that period 1.

  • Catastrophe and cyber losseshigh

    Catastrophic events, including those linked to climate change and cyber-attacks, could produce large losses that are hard to estimate 1.

  • A&EP and mass tort exposuremedium

    Claims tied to asbestos, pollution and other harmful products could exceed the limit of the loss portfolio transfer and add new costs 1.

  • Pricing pressure in insurancemedium

    Rates below expectations and rising competition could compress margins and raise the combined ratio 13.

  • Holding-company financing costlow

    A recent debt refinancing increased parent-level interest expense, which could weigh on Corporate results if rates remain high 3.

Investment thesis

What would need to be true (bull case)

  • If investment income and Boardwalk growth continue, group results could stay solid even if underwriting weakens.
  • Diversification across segments and parent-level cash could provide flexibility for share repurchases and new investments.
  • Hotels posted strong rate and occupancy gains, which could continue if travel demand stays firm.

What would break the thesis

  • If the Property and Casualty combined ratio keeps rising, underwriting pressure could erode CNA's earnings.
  • Social inflation and possible reserve increases could create earnings shocks that are hard to anticipate.
  • The holding structure, with subsidiary creditors ranking first, could limit the parent's ability to use subsidiary cash flows.

What to watch

  • Trend in the Property and Casualty combined ratio and underlying loss ratioQ3 2026
  • Boardwalk contracting rates and growth project revenuesQ3 2026
  • Average daily rates and occupancy at Loews hotels after renovationQ3 2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 03 Aug 2026; since then the company filed 10-Q (02 Nov 2026), 8-K (02 Nov 2026 · results).

The business

Revenue is dominated by insurance: CNA accounted for 81.2% of consolidated total revenue in fiscal 2025, Boardwalk for 12.6%, with the remainder from hotels and other activities 1. Net income attributable to Loews rose to 1.7 billion USD in fiscal 2025 from 1.4 billion USD in fiscal 2024 1, and in the second quarter of 2026 the company reported 444 million USD 3.

The holding company relies on invested cash and distributions from its subsidiaries to meet obligations and pay dividends; creditors of subsidiaries generally have priority over the subsidiaries' assets, and there are no parent company guarantees 2. This structure matters when assessing where risk sits within the group.

Segments

Loews Hotels & Co

The hotel chain includes properties associated with Universal Orlando and the Loews Miami Beach Hotel, which underwent renovation 13. In the second quarter of 2026 segment net income rose 71%, supported by higher average daily rates and occupied room nights 3.

Market context

Commercial property and casualty insurance is highly competitive, with the company competing against a large number of stock and mutual insurers for distributors and customers 1. Natural gas pipelines operate downstream of production, with FERC regulating Gulf South and Texas Gas 1. Contracting rates and transport demand directly shape Boardwalk's results 3.

Insurance is subject to comprehensive regulation, including state supervision in the United States, Solvency II and Solvency UK capital rules, and group supervision frameworks developed by the NAIC and IAIS 1. Hotel results depend on travel demand and average daily rates, which supported segment growth in 2026 3.

Competitive position

In insurance, CNA competes with a large number of stock and mutual companies for both distributors and customers, in a cyclical market; intensifying competition could pressure rates 1. Changes in the distribution network, including brokers and independent agents, add a further source of risk 1.

In gas transportation, Boardwalk competes with other interstate and intrastate pipelines in the Gulf Coast and Midwest, while in storage and petrochemical services competition depends on location and contracts 1. Loews Hotels competes with other properties in Florida's resort areas 1.

  • Berkshire Hathaway (National Indemnity Company)BRK.B

    Entity that took on substantially all of CNA's legacy A&EP liabilities in 2010 through a loss portfolio transfer with an aggregate limit, indicating a major reinsurance counterparty 1.

  • Major stock and mutual property and casualty insurers

    The source describes a large number of competing stock and mutual insurers without naming them in the analysed text 1.

  • Gulf Coast natural gas and NGL pipeline operators

    Boardwalk competes with other regional gas and liquids pipelines; the source does not name them 1.

  • Florida resort hotel operators

    Loews hotels compete with properties in the same resort areas, unnamed in the source 1.

News & filings

In the press

The latest news item in our archive is from 21 Sept 2026; the newest SEC filing is from 02 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Loews Corporation · 10 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Loews Corporation · 03 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Loews Corporation · 03 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.