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Schedule V - Supplemental Information Concerning Property and Casualty Insurance Operations
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract]  
Schedule V - Supplemental Information Concerning Property and Casualty Insurance Operations SCHEDULE V
LOEWS CORPORATION AND SUBSIDIARIES

Supplemental Information Concerning Property and Casualty Insurance Operations

Consolidated Property and Casualty Operations  
   
December 3120242023
(In millions)  
   
Deferred acquisition costs$959 $896 
Reserves for unpaid claim and claim adjustment expenses24,97623,304
Discount deducted from claim and claim adjustment expense reserves above (based on interest rates ranging from 3.5% to 6.6%)
615647
Unearned premiums7,3466,933

Year Ended December 31
202420232022
(In millions)   
    
Net written premiums$10,605 $9,892 $9,128 
Net earned premiums10,211 9,480 8,667 
Net investment income2,396 2,163 1,751 
Incurred claim and claim adjustment expenses related to current year6,330 5,667 5,181 
Incurred claim and claim adjustment expenses related to prior years42 48 (32)
Amortization of deferred acquisition costs1,798 1,644 1,490 
Paid claim and claim adjustment expenses5,189 4,601 4,302 
Schedule I - Condensed Financial Information of Registrant
SCHEDULE I

Condensed Financial Information of Registrant

LOEWS CORPORATION
BALANCE SHEETS

ASSETS

December 3120242023
(In millions)  
   
Current assets, principally investment in short-term instruments$2,222 $2,149 
Investments in securities1,170 568 
Investments in capital stocks of subsidiaries, at equity15,623 14,889 
Other assets95 76 
Total assets$19,110 $17,682 
   
   
LIABILITIES AND SHAREHOLDERS’ EQUITY
   
   
Current liabilities$143 $102 
Long-term debt1,785 1,782 
Deferred income tax and other116 94 
Total liabilities2,044 1,978 
Shareholders’ equity17,066 15,704 
Total liabilities and shareholders’ equity$19,110 $17,682 

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

Year Ended December 31
202420232022
(In millions)   
    
Revenues:   
Equity in income of subsidiaries (a)
$1,328 $1,501 $963 
Net investment income, interest and other261 131 1 
Investment loss
Total1,589 1,632 964 
Expenses:
Administrative76 119 84 
Interest75 80 89 
Total151 199 173 
Income before income tax1,438 1,433 791 
Income tax (expense) benefit(24)1 31 
Net income1,414 1,434 822 
Equity in other comprehensive income (loss) of subsidiaries630 884 (2,000)
Total comprehensive income (loss)$2,044 $2,318 $(1,178)
SCHEDULE I
(Continued)

Condensed Financial Information of Registrant

LOEWS CORPORATION
STATEMENTS OF CASH FLOWS

Year Ended December 31
202420232022
(In millions)   
    
Operating Activities:   
Net income$1,414 $1,434 $822 
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Equity method investees(67)(512)(3)
Provision (benefit) for deferred income taxes4 (4)(49)
Changes in operating assets and liabilities, net:
Receivables(6)10 (11)
Accounts payable and accrued liabilities(12)(9)(47)
Trading securities(695)576 153 
Other, net2 109 39 
 640 1,604 904 
 
Investing Activities:
Investments in and advances to subsidiaries2 (217)(137)
Change in investments, primarily short-term27 29 30 
Other(11)(9)
29 (199)(116)
 
Financing Activities:
Dividends paid(55)(57)(61)
Purchases of treasury shares(608)(849)(729)
Payment of debt(500)
Other(4)(5)(7)
 (667)(1,411)(797)
 
Net change in cash2 (6)(9)
Cash, beginning of year4 10 19 
Cash, end of year$6 $4 $10 
(a)
Cash dividends paid to the Company by affiliates amounted to approximately $1.3 billion, $1.0 billion and $1.0 billion for the years ended December 31, 2024, 2023 and 2022.
Supplemental Information Concerning Property and Casualty Insurance Operations

Consolidated Property and Casualty Operations  
   
December 3120242023
(In millions)  
   
Deferred acquisition costs$959 $896 
Reserves for unpaid claim and claim adjustment expenses24,97623,304
Discount deducted from claim and claim adjustment expense reserves above (based on interest rates ranging from 3.5% to 6.6%)
615647
Unearned premiums7,3466,933

Year Ended December 31
202420232022
(In millions)   
    
Net written premiums$10,605 $9,892 $9,128 
Net earned premiums10,211 9,480 8,667 
Net investment income2,396 2,163 1,751 
Incurred claim and claim adjustment expenses related to current year6,330 5,667 5,181 
Incurred claim and claim adjustment expenses related to prior years42 48 (32)
Amortization of deferred acquisition costs1,798 1,644 1,490 
Paid claim and claim adjustment expenses5,189 4,601 4,302