Loews Corporation has reported a rise in quarterly profit, driven by strong results in its insurance business, even amid ongoing macroeconomic uncertainty.
Despite economic pressures, spending on insurance has remained steady as both businesses and individuals continue to seek protection against financial risks, property damage and natural disasters. The absence of major catastrophes provided a tailwind for insurers, as losses from hurricanes, wildfires and storms—key swing factors for the sector—often affect earnings despite risk pricing and reinsurance strategies.
Loews, headquartered in New York, operates across multiple sectors including insurance, energy, hospitality and packaging, through subsidiaries such as CAN Financial, Boardwalk Pipelines, Loews Hotels and Altium Packaging. The majority of its revenue is generated by CAN Financial, in which Loews holds a stake exceeding 90%, according to LSEG data.
The company reported that core income from its insurance unit rose 40% to $409 million compared with the previous year, driven by lower catastrophe-related losses, improved underlying underwriting results, and higher net investment income.
The property and casualty business within Loews’ insurance unit recorded an underlying combined ratio of 92.8%, an improvement from 97.2% a year earlier. A combined ratio below 100% indicates that the insurer earned more in premiums than it paid out in claims.
Overall, net income attributable to Loews increased to $504 million, or $2.43 per share, for the three months ended 30 September, up from $401 million, or $1.82 per share, in the same period last year.
The New York-based conglomerate, which operates across insurance, energy, hospitality, and packaging through subsidiaries like CAN Financial, Boardwalk Pipelines, Loews Hotels, and Altium Packaging, saw core income from its insurance unit climb 40% to $409 million year-over-year. The gain was fueled by lower catastrophe-related losses, improved underwriting results, and higher net investment income.
Its property and casualty segment reported an underlying combined ratio of 92.8%, an improvement from 97.2% the prior year, signaling that the insurer earned more in premiums than it paid out in claims.
Overall, net income attributable to Loews rose to $504 million, or $2.43 per share, up from $401 million, or $1.82 per share, a year earlier.