Financial Performance - Net income attributable to Loews Corporation for Q3 2024 was $401 million, or $1.82 per share, compared to $253 million, or $1.12 per share in Q3 2023, representing a 58.5% increase in net income [160]. - For the nine months ended September 30, 2024, net income attributable to Loews Corporation was $1,227 million, or $5.54 per share, up from $988 million, or $4.31 per share in the same period of 2023, reflecting a 24.2% increase [160]. - Net income attributable to Loews Corporation for the latest quarter was $150 million, up from $107 million in the previous quarter, representing an increase of 40.2% [178]. - Core income for the latest quarter was $178 million, compared to $133 million in the previous quarter, reflecting a growth of 33.8% [178]. - The company reported a total core income of $1,098 million for the nine months ended September 30, 2024, compared to $974 million for the same period in the previous year, marking a 12.7% increase [181]. Insurance Operations - CNA Financial reported insurance premiums of $2,593 million for Q3 2024, an increase from $2,406 million in Q3 2023, marking an 7.8% growth [165]. - CNA's total revenues for the nine months ended September 30, 2024, reached $10,581 million, up from $9,792 million in the same period of 2023, representing an 8.0% increase [165]. - Gross written premiums for the latest quarter totaled $3,595 million, with net earned premiums at $2,484 million [184]. - Gross written premiums for the nine months ended September 30, 2024, totaled $11,409 million, an increase from $10,953 million in the comparable 2023 period [188][190]. - Net written premiums for the nine months ended September 30, 2024, reached $7,424 million, up from $6,938 million in the same period last year, reflecting a growth of approximately 7% [188][190]. Investment Income - Net investment income for CNA Financial increased to $626 million in Q3 2024 from $553 million in Q3 2023, a rise of 13.2% [165]. - Net investment income for the latest quarter was $(136) million, a decline from $(470) million in the previous quarter [182]. - Net investment income for the nine months ended September 30, 2024, was $1,090 million, compared to $951 million in the same period last year, showing an increase of approximately 14.6% [188][190]. - CNA's total fixed income securities net investment income was $1,555 million for the nine months ended September 30, 2024, compared to $1,469 million in 2023 [266]. - CNA's net investment income increased by $73 million and $200 million for the three and nine months ended September 30, 2024, compared to the same periods in 2023 [266]. Catastrophe Losses - The effect of catastrophe losses in the latest quarter was $190 million, impacting overall profitability [182]. - Catastrophe losses for the three months ended September 30, 2024, were $143 million, up from $94 million in the same period last year, primarily due to severe weather events [195]. - Catastrophe losses for Property & Casualty Operations rose to $313 million for the nine months ended September 30, 2024, compared to $214 million in the same period of 2023 [205]. Operational Metrics - The loss ratio for the latest quarter was 60.1%, while the combined ratio stood at 93.0% [185]. - The loss ratio for the nine months ended September 30, 2024, was 64.9%, compared to 63.1% in the comparable 2023 period, showing a deterioration of 1.8 percentage points [189][190]. - The combined ratio for the nine months ended September 30, 2024, was 95.6%, an increase from 94.0% in the same period last year, reflecting a decline in underwriting performance [189][190]. - The expense ratio for the nine months ended September 30, 2024, was 30.3%, compared to 30.6% in the same period last year, indicating a slight improvement [189][190]. - The retention rate for the nine months ended September 30, 2024, was 85%, consistent with the previous year, reflecting stable customer loyalty [189][190]. Corporate Developments - Loews Hotels & Co reported a net loss of $8 million in Q3 2024, down from a net income of $17 million in Q3 2023, reflecting a significant decline [160]. - The Corporate segment recorded a net income of $73 million in Q3 2024, compared to a net loss of $48 million in Q3 2023, showing a turnaround [160]. - Operating revenues for Loews Hotels & Co improved by $100 million for the nine months ended September 30, 2024, attributed to the opening of the Loews Arlington Hotel and Convention Center and higher occupancy levels [236]. - Loews Corporation repurchased 4.6 million shares of its common stock in 2024 for a total cost of $353 million as of November 1, 2024 [248]. - CNA paid cash dividends of $3.32 per share during the nine months ended September 30, 2024, including a special cash dividend of $2.00 per share [251]. Capital Expenditures and Financing - Boardwalk Pipelines' capital expenditures for the nine months ended September 30, 2024, were $292 million, up from $232 million in 2023 [255]. - Interest expenses increased by $20 million for the nine months ended September 30, 2024, mainly due to pre-financing Boardwalk Pipeline's $600 million of debt maturing in December 2024 [232]. - As of September 30, 2024, Boardwalk Pipelines had $1.0 billion available under its revolving credit facility [256]. - Loews Hotels & Co refinanced $413 million in mortgage loans due within twelve months in 2024 [259]. Market Conditions and Risks - Forward-looking statements indicate that future financial performance is subject to various risks and uncertainties that could materially affect actual results [279]. - The company acknowledges that certain accounting estimates may be adjusted in the future based on new information and changing circumstances [276]. - CNA periodically reviews the sensitivity of its investment portfolio to foreign exchange rates and other market price changes [275]. - The company emphasizes the importance of aligning the duration of its investment portfolio with corresponding liabilities to manage interest rate risk [274].

Financial Performance - Loews Corporation reported net income of $401 million, or $1.82 per share, for Q3 2024, a 58% increase from $253 million, or $1.12 per share, in Q3 2023[2] - For the nine months ended September 30, 2024, net income was $1,227 million, or $5.54 per share, compared to $988 million, or $4.31 per share, in the same period of 2023[8] - Net income attributable to Loews Corporation for Q3 2024 was $401 million, up 58.5% from $253 million in Q3 2023[17] - The net income per share attributable to Loews Corporation increased to $1.82 in Q3 2024, compared to $1.12 in Q3 2023, marking a 62.5% rise[17] Revenue and Investment - Total revenues for the nine months ended September 30, 2024, reached $12,964 million, a 11.3% increase from $11,643 million in the same period of 2023[17] - Net investment income increased to $776 million in Q3 2024, compared to $592 million in Q3 2023, representing a 31.1% growth[17] - CNA Financial's net income attributable to Loews improved by 10% to $259 million in Q3 2024, driven by higher net investment income despite increased catastrophe losses[4] Insurance Operations - CNA's net written premiums grew by 8% in Q3 2024, driven by strong retention and new business[4] - The Property and Casualty combined ratio for CNA was 97.2% in Q3 2024, up from 94.3% in Q3 2023, reflecting higher catastrophe losses[4] - Insurance premiums for Q3 2024 were $2,593 million, up 7.8% from $2,406 million in Q3 2023[17] - CNA's core income for Q3 2024 was $293 million, slightly up from $289 million in Q3 2023[20] - The loss ratio for CNA in Q3 2024 was 66.7%, compared to 63.9% in Q3 2023, indicating a deterioration in underwriting performance[21] Segment Performance - Boardwalk Pipelines' net income rose 57% to $77 million in Q3 2024, supported by increased revenues from re-contracting at higher rates and growth projects[5] - Boardwalk Pipelines reported an EBITDA of $249 million for Q3 2024, up from $202 million in Q3 2023, reflecting a 23.3% increase[22] - Loews Hotels reported a net loss of $8 million in Q3 2024, down from a net income of $17 million in Q3 2023, primarily due to an impairment charge[6] - Loews Hotels & Co's Adjusted EBITDA for Q3 2024 was $64 million, compared to $60 million in Q3 2023, showing a 6.7% growth[24] - Loews Hotels & Co's net income attributable to Loews Corporation for Q3 2024 was a loss of $8 million, down from a profit of $17 million in Q3 2023[24] Shareholder Returns - Book value per share, excluding AOCI, increased to $87.22 as of September 30, 2024, from $81.92 as of December 31, 2023, reflecting strong operating results and share repurchases[2] - Loews Corporation repurchased 0.8 million shares for $64 million in Q3 2024 and an additional 1.2 million shares for $92 million in Q4 2024[9]

Tecentriq Hybreza provides patients and physicians with greater flexibility of treatment options while showing safety and efficacy consistent with intravenous (IV) Tecentriq1,2New subcutaneous (SC) option reduces treatment time to approximately seven minutes, compared with 30-60 minutes for IV infusion2 Basel, 13 September 2024 - Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that the U.S. Food and Drug Administration (FDA) has approved Tecentriq HybrezaTM (atezolizumab and hyaluronidase-tqjs), the firs ...

NEW YORK, Sept. 9, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today that the Delaware Court of Chancery found no liability in connection with Loews's 2018 acquisition of the minority limited partner interests in its Boardwalk Pipelines subsidiary."We are very pleased that the Delaware Court of Chancery ruled in our favor and continue to believe that the process we undertook in 2018 to purchase the minority units in Boardwalk was appropriate. We are hopeful that this ruling will resolve the l ...

Core Points - Loews Corporation declared a quarterly dividend of $0.0625 per share of Common Stock [1] - The dividend is payable on September 3, 2024, to shareholders of record as of the close of business on August 21, 2024 [1] Company Overview - Loews Corporation operates in diversified sectors including insurance, energy, hospitality, and packaging [1] - For further information, the company can be visited at www.loews.com [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ____________ to _____________ Commission File Number 1-06541 LOEWS CORPORATION (Exact name of registrant as specified in its charter) Delaware 13-2646102 (State or other ...

Exhibit 99.1 NEWS RELEASE LOEWS CORPORATION REPORTS NET INCOME OF $369 MILLION FOR THE SECOND QUARTER OF 2024 New York, NY, July 29, 2024: Loews Corporation (NYSE: L) today released its second quarter 2024 financial results. Consolidated highlights: | | | | June 30, | | | | --- | --- | --- | --- | --- | --- | | | Three Months | | | Six Months | | | (In millions) | 2024 | 2023 | 2024 | | 2023 | | Net Income (Loss) Attributable to Loews Corporation: | | | | | | | CNA Financial | $ 291 $ | | 255 $ | 601 $ | 52 ...

Leadership Transition - James Tisch will retire as President and CEO of Loews Corporation on December 31, 2024, and will be succeeded by Benjamin Tisch, the current Senior Vice President of Corporate Development and Strategy [1] - James Tisch will transition to the role of Chairman of the Board of Directors, while Benjamin Tisch and Alexander Tisch will join the Board [1] Board of Directors' Confidence - The Board of Directors expressed confidence in Benjamin Tisch's leadership capabilities, highlighting his skills and attributes necessary for guiding the company [2] - Paul Fribourg, the lead independent director, emphasized Benjamin Tisch's deep knowledge of Loews Corporation and his potential to enhance long-term value creation for shareholders [2] Benjamin Tisch's Background - Benjamin Tisch joined Loews in 2011 and has held various leadership roles, including Vice President and Senior Vice President of Corporate Development and Strategy [2] - Prior to Loews, Benjamin Tisch was a Managing Director at Fortress Investment Group, managing diverse asset classes [3] Company Overview - Loews Corporation operates in diversified sectors including insurance, energy, hospitality, and packaging [3]

NEW YORK, July 9, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) will report second quarter 2024 financial results on Monday, July 29, 2024. On that date the Company will also post earnings remarks on its website. These remarks will include commentary from the Company's Chief Executive Officer, James S. Tisch, and Chief Financial Officer, Jane Wang.Loews invites shareholders to submit questions for management in advance of earnings. Management may address some or all of these questions in the earnings rem ...

Net Income and Financial Performance - Net income attributable to Loews Corporation for Q1 2024 was $457 million, or $2.05 per share, compared to $375 million, or $1.61 per share in Q1 2023[139] - CNA Financial's net income increased by $42 million in Q1 2024, driven by higher net investment income and favorable net prior year loss reserve development, partially offset by higher catastrophe losses[143] - Boardwalk Pipelines' net income increased to $121 million in Q1 2024 from $86 million in Q1 2023, primarily due to higher revenues from re-contracting at higher rates and recently completed growth projects[139] - Loews Hotels & Co reported a net income of $16 million in Q1 2024, down from $24 million in Q1 2023[139] - Corporate segment net income improved to $10 million in Q1 2024 from a loss of $3 million in Q1 2023[139] - Net income attributable to Loews Corporation decreased by $8 million to $16 million in Q1 2024 compared to $24 million in Q1 2023, primarily due to increased operating expenses and lower equity income from joint ventures[171][173] CNA Financial's Property & Casualty Operations - CNA's Property & Casualty Operations reported a combined ratio of 94.6% in Q1 2024, with an underlying combined ratio of 91.0%[148] - Gross written premiums for CNA's Property & Casualty Operations totaled $3.74 billion in Q1 2024, with Specialty, Commercial, and International segments contributing $1.68 billion, $1.69 billion, and $374 million respectively[148] - CNA's renewal premium change for Property & Casualty Operations was 6% in Q1 2024, with retention rates at 85%[148] - CNA's underlying loss ratio for Property & Casualty Operations was 60.5% in Q1 2024, with catastrophe impacts adding 3.8 percentage points to the loss ratio[148] - Core income for Property & Casualty Operations increased by $26 million in Q1 2024 compared to Q1 2023, driven by higher net investment income and favorable net prior year loss reserve development[152] - Catastrophe losses for Property & Casualty Operations were $88 million in Q1 2024, up from $52 million in Q1 2023[152] Gross Written Premiums by Segment - Gross written premiums for Specialty decreased by $6 million in Q1 2024 compared to Q1 2023, driven by lower new business, partially offset by favorable rates[149] - Gross written premiums for Commercial increased by $244 million in Q1 2024 compared to Q1 2023, driven by favorable renewal premium changes and higher new business[150] - Gross written premiums for International decreased by $24 million in Q1 2024 compared to Q1 2023, with a $31 million decrease excluding foreign currency effects[151] Combined Ratios by Segment - Specialty's combined ratio increased by 0.7 points in Q1 2024 compared to Q1 2023, driven by higher acquisition costs and an increase in the underlying loss ratio[154] - Commercial's combined ratio increased by 1.6 points in Q1 2024 compared to Q1 2023, primarily due to higher catastrophe losses[155] - International's combined ratio improved by 3.9 points in Q1 2024 compared to Q1 2023, driven by a 5.3 point improvement in the loss ratio[156] Investment Income and Portfolio Performance - CNA's net investment income increased to $609 million in Q1 2024 from $525 million in Q1 2023[143] - CNA's net investment income increased by $84 million to $609 million for Q1 2024, driven by higher returns from limited partnerships and common stocks, and favorable reinvestment rates in fixed income securities[194] - The effective income yield for CNA's fixed income securities portfolio rose to 4.7% in Q1 2024, up from 4.6% in Q1 2023[194] - Limited partnership and common stock returns improved significantly to 2.9% in Q1 2024, compared to 1.3% in Q1 2023[194] - CNA's pretax investment losses decreased by $13 million to $16 million in Q1 2024, primarily due to favorable changes in the fair value of non-redeemable preferred stock[196] - The total fair value of CNA's fixed maturity securities increased to $40.605 billion in Q1 2024, with net unrealized losses rising to $2.253 billion[199] - AAA-rated securities in CNA's fixed maturity portfolio included $0.2 billion of pre-funded municipal bonds as of March 31, 2024[199] - CNA's available-for-sale fixed maturity securities in a gross unrealized loss position totaled $27.012 billion, with $3.096 billion in unrealized losses as of March 31, 2024[201] - The effective duration of CNA's total investment portfolio decreased slightly to 6.4 years in Q1 2024, compared to 6.5 years at the end of 2023[207] - CNA's Life & Group portfolio had an effective duration of 10.0 years in Q1 2024, down from 10.2 years at the end of 2023[207] - The Property & Casualty and other portfolio maintained a stable effective duration of 4.5 years in Q1 2024[207] Cash Flow and Financial Activities - Parent Company cash and investments increased to $3.2 billion at March 31, 2024, compared to $2.6 billion at December 31, 2023, driven by $656 million in cash dividends from subsidiaries[179] - CNA's cash provided by operating activities increased by $68 million to $504 million in Q1 2024 compared to $436 million in Q1 2023, driven by higher premiums collected and distributions from limited partnerships[181] - Boardwalk Pipelines' cash provided by operating activities increased by $43 million in Q1 2024 compared to Q1 2023, primarily due to changes in net income adjusted for depreciation and amortization[185] - Loews Hotels & Co received $23 million from the sale of an owned hotel in Q1 2024 and agreed to acquire noncontrolling equity interest in another hotel for $30 million, completed on April 1, 2024[187] - CNA completed a public offering of $500 million in 5.1% senior notes due February 15, 2034, to retire $550 million in 4.0% senior notes due May 2024[184] - Boardwalk Pipelines completed a public offering of $600 million in 5.6% senior notes due August 1, 2034, and has $1.0 billion available under its revolving credit facility[186] Other Financial Metrics and Developments - Core results for Other Insurance Operations improved by $4 million in Q1 2024 compared to Q1 2023, primarily due to higher net investment income[158] - Boardwalk Pipelines' EBITDA increased by $51 million in Q1 2024 compared to Q1 2023, driven by higher transportation revenues and the Bayou Ethane acquisition[165] - Operating revenue increased by $28 million to $183 million in Q1 2024 compared to $155 million in Q1 2023, driven by higher occupancy levels and food and beverage revenues[171][172] - Equity income from joint ventures decreased by $4 million to $27 million in Q1 2024 compared to $31 million in Q1 2023, driven by reduced occupancy levels at joint venture hotels[173] - Depreciation and amortization increased by $5 million to $21 million in Q1 2024 compared to $16 million in Q1 2023, mainly due to the opening of the Loews Arlington Hotel and Convention Center[173] Forward-Looking Statements and Risks - Forward-looking statements include projections of future results, events, performance, or achievements, and may contain terms like "expect," "intend," "plan," "anticipate," "estimate," and "believe"[211] - Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated or projected[211] - Investors should not place undue reliance on forward-looking statements due to inherent risks and uncertainties[212] - The company and its subsidiaries disclaim any obligation to update forward-looking statements to reflect changes in expectations, beliefs, or circumstances[212]