Loews Corp
DUS:LTR
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Loews Corp
DUS:LTR
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Loews Corp
Loews Corp is a holding company, not a single operating business. Its largest business is CNA Financial, which sells property and casualty insurance to businesses and other customers. It also owns Loews Hotels, which runs and manages hotels, and Boardwalk Pipelines, which moves natural gas and natural gas liquids through long-distance pipelines. The company makes money in different ways depending on the business. CNA earns premium income from insurance policies and also invests the money it holds before claims are paid. Loews Hotels earns money from room revenue, food and beverage sales, and hotel management fees. Boardwalk earns fees for transporting and storing energy products under long-term contracts. What makes Loews different is that it acts as a parent owner of a few unrelated, asset-heavy businesses rather than trying to sell one product. Its role is to own and support cash-generating subsidiaries, allocate capital between them, and collect the earnings they produce. That gives investors exposure to insurance, hospitality, and energy infrastructure through one company.
Loews Corp is a holding company, not a single operating business. Its largest business is CNA Financial, which sells property and casualty insurance to businesses and other customers. It also owns Loews Hotels, which runs and manages hotels, and Boardwalk Pipelines, which moves natural gas and natural gas liquids through long-distance pipelines.
The company makes money in different ways depending on the business. CNA earns premium income from insurance policies and also invests the money it holds before claims are paid. Loews Hotels earns money from room revenue, food and beverage sales, and hotel management fees. Boardwalk earns fees for transporting and storing energy products under long-term contracts.
What makes Loews different is that it acts as a parent owner of a few unrelated, asset-heavy businesses rather than trying to sell one product. Its role is to own and support cash-generating subsidiaries, allocate capital between them, and collect the earnings they produce. That gives investors exposure to insurance, hospitality, and energy infrastructure through one company.
Net Income Surge: Loews reported third quarter net income of $401 million ($1.82 per share), up from $253 million ($1.12 per share) in the prior year.
Strong Boardwalk Growth: Boardwalk's EBITDA grew by more than $100 million year-over-year to over $1 billion for the past twelve months, fueled by strong demand for natural gas.
CNA Performance: CNA contributed $259 million in net income, driven by higher net investment income despite increased catastrophe losses.
Book Value Growth: Book value per share rose from $70.69 at year-end 2023 to $79.28 at the end of Q3 2024.
Leadership Transition: CEO James Tisch announced he will step down as CEO in two months, transitioning to Chairman of the Board.
Boardwalk Legal Win: Loews prevailed in the Delaware Court of Chancery on Boardwalk shareholder litigation; a final appeal decision is expected in 2025.
Active Capital Return: Loews repurchased 830,000 shares for $64 million in Q3 and 4.6 million shares for $353 million year-to-date.
