Loews (L)
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Loews Arlington Hotel and Convention Center Officially Opens Its Doors
Prnewswire· 2024-02-13 16:30
Loews Arlington Hotel is a state-of-the-art, full-service meetings, events and resort destination that caters to groups of all sizes, as well as families who are looking for a world-class resort experience in the epicenter of the premier sports and entertainment district in the country. Centrally located between Dallas and Fort Worth, and just 10 minutes from the DFW International Airport, the 21-story resort features 888 guest rooms and luxury suites with a sophisticated, modern design. The resort is situa ...
LOEWS CORPORATION ANNOUNCES QUARTERLY DIVIDEND ON COMMON STOCK
Prnewswire· 2024-02-06 16:31
NEW YORK, Feb. 6, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today the declaration of the Company's quarterly dividend of $0.0625 per share of Common Stock, payable March 5, 2024 to shareholders of record as of the close of business on February 21, 2024. Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality, and packaging industries. For more information please visit www.loews.com. SOURCE Loews Corporation ...
Loews (L) - 2023 Q4 - Earnings Call Transcript
2024-02-05 20:16
Loews Corporation (NYSE:L) Q4 2023 Earnings Conference Call February 5, 2024 9:00 AM ET Company Participants Ralitza Todorova - Investor Relations Dino Robusto - Chairman and Chief Executive Officer Scott Lindquist - Chief Financial Officer Conference Call Participants Josh Shanker - Bank of America Meyer Shields - KBW Operator Ladies and gentlemen, good day, and welcome to the CNA Fourth Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] As a remind ...
Loews (L) - 2023 Q4 - Earnings Call Presentation
2024-02-05 17:27
CNA Financial Corporation Fourth Quarter 2023 Results Notices and Disclaimers Forward Looking Statements The statements made in the course of this presentation and/or contained in the presentation materials may include statements that relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words suc ...
Loews (L) - 2023 Q4 - Annual Report
2024-02-05 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 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 (S ...
LOEWS CORPORATION REPORTS NET INCOME OF $446 MILLION FOR THE FOURTH QUARTER OF 2023 AND $1.4 BILLION FOR THE FULL YEAR
Prnewswire· 2024-02-05 11:00
14.0 MILLION COMMON SHARES REPURCHASED IN 2023 FOR $852 MILLION NEW YORK, Feb. 5, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) today released its fourth quarter 2023 financial results. Fourth Quarter highlights: Loews Corporation reported net income of $446 million, or $1.99 per share, in the fourth quarter of 2023, which represents a 26% increase over $355 million, or $1.49 per share, in the fourth quarter of 2022. The following are the highlights for the fourth quarter: CNA Financial Corporation's ( ...
Loews Corporation to Release Fourth Quarter 2023 Results on February 5, 2024
Prnewswire· 2024-01-16 15:00
NEW YORK, Jan. 16, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) will report fourth quarter 2023 financial results on Monday, February 5, 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 earning ...
Loews (L) - 2023 Q3 - Quarterly Report
2023-10-29 16:00
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 September 30, 2023 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 o ...
Loews (L) - 2023 Q2 - Quarterly Report
2023-07-30 16:00
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, 2023 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) | Securities registered pursuant to ...
Loews (L) - 2023 Q1 - Earnings Call Transcript
2023-05-01 12:00
Financial Data and Key Metrics Changes - Core income increased by $27 million to $325 million in Q1 2023, representing a 9% year-over-year growth [6][24] - Net investment income rose by $77 million year-over-year to $525 million pretax, a 17% increase [6][24] - The all-in combined ratio was strong at 93.9%, with pretax catastrophe losses of $52 million, which is below the 10-year Q1 average [6][7] Business Line Data and Key Metrics Changes - The P&C underlying combined ratio improved to 90.8%, down 0.6 points year-over-year [7] - Specialty segment's all-in and underlying combined ratios were both strong at 90% [11] - Commercial segment's all-in combined ratio was 96%, with an underlying combined ratio of 91.8%, the lowest on record [15] - International segment's all-in combined ratio was 97.2%, with an underlying combined ratio of 89.3%, a record low [22] Market Data and Key Metrics Changes - Gross written premiums in the commercial segment grew by 19% in Q1 2023 [15] - International gross written premiums increased by 10% or 17% excluding currency fluctuations [22] - Retention rates remained high at 86% for commercial and 83% for international segments [11][22] Company Strategy and Development Direction - The company is focused on growing profit dollars across business segments and strengthening industry verticals [10][11] - There is a continued emphasis on securing high-quality new business opportunities, particularly in commercial and international markets [11][21] - The company aims to maintain strong retention levels and capitalize on improved terms and conditions in the marketplace [18][36] Management's Comments on Operating Environment and Future Outlook - Management highlighted strong top and bottom line performance, with pricing resiliency persisting in several lines of business [36] - The company does not foresee significant changes in the marketplace, with rates expected to continue to rise in certain areas [18] - Management remains conservative in underwriting and is focused on maintaining appropriate insurance to value during inflationary times [18][19] Other Important Information - The effective tax rate on core income was 20% for Q1 2023, with expectations for similar rates throughout the year [35] - The company announced a regular quarterly dividend of $0.42 per share to be paid on June 1, 2023 [35] Q&A Session Summary Question: Can you discuss reserve development in the Specialty and Commercial segments? - Management noted that development was flat for both segments, with unfavorable claim settlements in older accident years offset by favorable reserve development in other parts of the specialty portfolio [39][40] Question: What is the outlook for catastrophe losses in 2023? - Management refrained from providing specific guidance but emphasized conservative management practices [41] Question: How has D&O pricing been affected by recent banking sector issues? - Management indicated that D&O pricing had stabilized closer to flat after a negative trend in Q4 [44]