Loews Corp (N:L)

Sector:  Financials Industry:  Property & Casualty Insurance
 
See Regulatory Filings on SEC
Company Contact
Address: 9 West 57Th Street
NEW YORK NY 10019-2714
Tel: N/A
Website: https://loews.com
IR: See website
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Key People
Andrew H. Tisch
Co-Chairman of the Board 		Jonathan M. Tisch
Office of the President and Co-Chairman of the Board 		James S. Tisch
President, Chief Executive Officer, Office of the President, Director
Jane J. Wang
Chief Financial Officer, Senior Vice President 		Richard Waldo Scott
Senior Vice President and Chief Investment Officer 		Marc A. Alpert
Senior Vice President, General Counsel, Secretary
Kenneth I. Siegel
Senior Vice President 		Benjamin J. Tisch
Senior Vice President, Corporate Development and Strategy 		Alexander H. Tisch
Vice President; President and Chief Executive Officer, Loews Hotels and Corporation
Business Overview
Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality and packaging industries. Its segments consist of individual operating subsidiaries, including CNA Financial Corporation (CNA), Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation (Loews Hotels). The CNA segment provides insurance products, such as commercial property and casualty coverage, and its services also include risk management, information services, warranty and claims administration. The CNA segment's commercial property and casualty insurance operations include Specialty, Commercial and International lines of business. The Boardwalk Pipelines segment is engaged in the business of transportation and storage of natural gas and liquids, and hydrocarbons. Boardwalk Pipelines owns and operates approximately 13,455 miles of interconnected natural gas pipelines directly serving customers in 13 states. Loews Hotels segment is engaged in operating a chain of hotels.
Financial Overview
For the fiscal year ended 31 December 2023, Loews Corp revenues increased 12% to $15.94B. Net income increased 74% to $1.43B. Revenues reflect CNA Financial segment increase of 12% to $13.3B. Net income benefited from Expense Ratio -% - Hardy decrease of 3% to 31.2%, Loss Ratio -% - Hardy increase of 3% to 61.4%, Equity securities change in fair value increase from $116M (expense) to $4M (income). Dividend per share remained flat at $0.25.
Employees: 12,280 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $25,588M as of Dec 31, 2023
Annual revenue (TTM): $15,941M as of Dec 31, 2023
EBITDA (TTM): $3,936M as of Dec 31, 2023
Net annual income (TTM): $1,434M as of Dec 31, 2023
Free cash flow (TTM): $3,164M as of Dec 31, 2023
Net Debt Last Fiscal Year: $8,604M as of Dec 31, 2023
Shares outstanding: 222,071,589 as of Mar 19, 2024
Index Membership: S&P 500
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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