Schedule V - Supplemental Information Concerning Property and Casualty Insurance Operations

12 Months Ended

Dec. 31, 2020

Schedule V - Supplemental Information Concerning Property and Casualty Insurance Operations [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 31	2020		2019
(In millions)
Deferred acquisition costs	$	708	$	662
Reserves for unpaid claim and claim adjustment expenses		22,706		21,720
Discount deducted from claim and claim adjustment expense reserves above (based on interest rates ranging from 3.5% to 6.5%)		1,209		1,321
Unearned premiums		5,119		4,583

Year Ended December 31	2020			2019			2018
(In millions)
Net written premiums	$	8,059		$	7,656		$	7,345
Net earned premiums		7,649			7,428			7,312
Net investment income		1,896			2,063			1,751
Incurred claim and claim adjustment expenses related to current year		5,793			5,356			5,358
Incurred claim and claim adjustment expenses related to prior years		(119	)		(127	)		(179	)
Amortization of deferred acquisition costs		1,410			1,383			1,335
Paid claim and claim adjustment expenses		5,164			5,576			5,331