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Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments Segments
Loews Corporation has four reportable segments comprised of three individual consolidated operating subsidiaries, CNA, Boardwalk Pipelines and Loews Hotels & Co; and the Corporate segment. The Corporate segment is comprised of Loews Corporation, excluding its consolidated subsidiaries, and includes the equity method of accounting for Altium
Packaging. Each of the consolidated operating subsidiaries is headed by a chief executive officer who is responsible for the operation of its business and has the duties and authority commensurate with that position.

CNA’s business is the sale of property and casualty insurance products and services, including surety, primarily through a network of independent agents, brokers and managing general underwriters. CNA’s operations also include its long-term care business that is in run-off, certain corporate expenses, including interest on CNA’s corporate debt, and the results of certain property and casualty businesses in run-off, including CNA Re, A&EP, a legacy portfolio of EWC policies and certain legacy mass tort reserves.

Boardwalk Pipelines operates in the midstream portion of the natural gas and NGLs industry, providing transportation and storage for those commodities. It also provides ethane supply and transportation services for industrial customers in Louisiana and Texas. Boardwalk Pipelines owns approximately 14,315 miles of natural gas and NGL pipelines and underground storage caverns. Boardwalk Pipelines’ natural gas pipeline systems are located in the Gulf Coast region, Oklahoma, Arkansas, Tennessee, Kentucky, Illinois, Indiana and Ohio, and its NGL pipelines and storage facilities are located in Louisiana and Texas.

Loews Hotels & Co operates a chain of 25 hotels, 24 of which are in the United States and one of which is in Canada. Eleven of these hotels are owned by Loews Hotels & Co, twelve are owned by joint ventures in which Loews Hotels & Co has noncontrolling equity interests and two are managed for unaffiliated owners.

The Corporate segment consists of investment income from the Parent Company’s cash and investments, Parent Company interest expense and other unallocated Parent Company expenses. Corporate also includes the equity method of accounting for Altium Packaging. Purchase accounting adjustments have been pushed down to the appropriate subsidiary.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies in Note 1.

In the following tables certain financial measures are presented to provide information used by management to monitor the Company’s operating performance. The Company’s CODM is the Chief Executive Officer. The CODM uses the trend of net income attributable to Loews Corporation from the most recent years to evaluate the performance of the segments and to make decisions regarding the allocation of capital. The following schedules present the reportable segments of the Company and their contribution to the consolidated financial statements. Amounts presented will not necessarily be the same as those in the individual financial statements of the Company’s subsidiaries due to adjustments for purchase accounting, income taxes and noncontrolling interests.
Statements of Operations and Total assets by segment are presented in the following tables.

Year Ended December 31, 2024
CNA Financial
Boardwalk Pipelines
Loews
Hotels & Co
Corporate
Total
(In millions)     
      
Revenues:     
      
Insurance premiums$10,211 $10,211 
Net investment income2,497 $32 $9 $242 2,780 
Investment losses(81) (81)
Non-insurance warranty revenue1,609 1,609 
Operating revenues and other34 2,033 924  2,991 
Total14,270 2,065 933 242 17,510 
 
Expenses:
 
Insurance claims and policyholders’ benefits (a)7,738 7,738 
Amortization of deferred acquisition costs1,798 1,798 
Non-insurance warranty expense1,547 1,547 
Operating expenses and other (b)1,843 1,377 873 77 4,170 
Equity method (income) loss  (86)28 (58)
Interest133 183 51 74 441 
Total13,059 1,560 838 179 15,636 
Income before income tax1,211 505 95 63 1,874 
Income tax expense(252)(92)(25)(11)(380)
Net income959 413 70 52 1,494 
Amounts attributable to noncontrolling interests(80)(80)
Net income attributable to Loews Corporation$879 $413 $70 $52 $1,414 
December 31, 2024
 
Total assets$66,434 $9,853 $2,498 $3,158 $81,943 

(a)
Significant segment expenses within Insurance claims and policyholders' benefits include catastrophe losses of $358 million and unfavorable development of $48 million. Development does not include the effects of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.
(b)Significant segment expenses included in Operating expenses and other:
Year Ended December 31, 2024
      
Insurance related administrative expenses$1,275 $1,275 
Operating expenses$633 $580 1,213 
Depreciation and amortization429 93 $2 524 
Other (c)568 315 200 75 1,158 
Operating expenses and other$1,843 $1,377 $873 $77 $4,170 

(c)Other expenses for each reportable segment include:
CNA Financial: reflects expenses not directly related to insurance operations, which includes certain expenses related to non-insurance warranty business and claims services offerings, as well as foreign currency transaction gains and losses. For 2024, this also includes a pension settlement charge of $367 million; see Note 16 for more information.
Boardwalk Pipelines: general and administrative expenses
Loews Hotels & Co: general and administrative, reimbursable and asset impairment expenses
Corporate: general and administrative expenses
Year Ended December 31, 2023
CNA
Financial		Boardwalk Pipelines Loews Hotels & Co CorporateTotal
(In millions)     
      
Revenues:     
      
Insurance premiums$9,480 $9,480 
Net investment income2,264 $11 $6 $114 2,395 
Investment gains (losses)(99)46(53)
Non-insurance warranty revenue1,624 1,624 
Operating revenues and other30 1,625 800  2,455 
Total13,299 1,636 852 114 15,901 
 
Expenses:
 
Insurance claims and policyholders’ benefits (a)7,068 7,068 
Amortization of deferred acquisition costs1,644 1,644 
Non-insurance warranty expense1,544 1,544 
Operating expenses and other (b)1,398 1,108 767 120 3,393 
Equity method (income) loss  (129)9 (120)
Interest127 155 14 80 376 
Total11,781 1,263 652 209 13,905 
Income (loss) before income tax1,518 373 200 (95)1,996 
Income tax (expense) benefit(313)(90)(53)5 (451)
Net income (loss)1,205 283 147 (90)1,545 
Amounts attributable to noncontrolling interests(111)(111)
Net income (loss) attributable to Loews Corporation$1,094 $283 $147 $(90)$1,434 
December 31, 2023
 
Total assets$64,655 $9,785 $2,374 $2,383 $79,197 

(a)
Significant segment expenses within Insurance claims and policyholders' benefits include catastrophe losses of $236 million and unfavorable development of $48 million. Development does not include the effects of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.
(b)Significant segment expenses included in Operating expenses and other:
Year Ended December 31, 2023
      
Insurance related administrative expenses$1,251 $1,251 
Operating expenses$395 $485 880 
Depreciation and amortization412 69 $1 482 
Other (c)147 301 213 119 780 
Operating expenses and other$1,398 $1,108 $767 $120 $3,393 

(c)Other expenses for each reportable segment include:
CNA Financial: reflects expenses not directly related to insurance operations, which includes certain expenses related to non-insurance warranty business and claims services offerings, as well as foreign currency transaction gains and losses.
Boardwalk Pipelines: general and administrative expenses
Loews Hotels & Co: general and administrative, reimbursable and asset impairment expenses
Corporate: general and administrative expenses. For 2023, this also includes a pension settlement charge of $47 million; see Note 16 for additional information.
Year Ended December 31, 2022
CNA
Financial (a)		Boardwalk PipelinesLoews Hotels & CoCorporateTotal
(In millions)     
      
Revenues:     
      
Insurance premiums$8,667 $8,667 
Net investment income (loss)1,805 $3 $1 $(7)1,802 
Investment losses(199)(199)
Non-insurance warranty revenue1,574 1,574 
Operating revenues and other32 1,443 720 5 2,200 
Total11,879 1,446 721 (2)14,044 
 
Expenses:
 
Insurance claims and policyholders’ benefits (a)6,653 6,653 
Amortization of deferred acquisition costs1,490 1,490 
Non-insurance warranty expense1,471 1,471 
Operating expenses and other (b)1,339 950 697 91 3,077 
Equity method (income) loss(148)9 (139)
Interest112 166 11 89 378 
Total11,065 1,116 560 189 12,930 
Income (loss) before income tax814 330 161 (191)1,114 
Income tax (expense) benefit(133)(83)(44)37 (223)
Net income (loss)681 247 117 (154)891 
Amounts attributable to noncontrolling interests(69)(69)
Net income (loss) attributable to Loews Corporation$612 $247 $117 $(154)$822 

(a)
Significant segment expenses within Insurance claims and policyholders' benefits include catastrophe losses of $247 million and favorable development of $32 million. Development does not include the effects of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.
(b)Significant segment expenses included in Operating expenses and other:
Year Ended December 31, 2022
      
Insurance related administrative expenses$1,160 $1,160 
Operating expenses$274 $414 688 
Depreciation and amortization396 64 $2 462 
Other (c)179 280 219 89 767 
Operating expenses and other$1,339 $950 $697 $91 $3,077 

(c)Other expenses for each reportable segment include:
CNA Financial: reflects expenses not directly related to insurance operations, which includes certain expenses related to non-insurance warranty business and claims services offerings, as well as foreign currency transaction gains and losses.
Boardwalk Pipelines: general and administrative expenses
Loews Hotels & Co: general and administrative, reimbursable and asset impairment expenses
Corporate: general and administrative expenses