The company said net income attributable to Loews Corporation was $1.4 billion ($6.29 diluted per share) in 2023, up from $822 million ($3.38 diluted per share) in 2022. The company cited higher net investment income at CNA and improved underwriting income as factors.

10-KAnnual reportFiled Feb 6, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said net income attributable to Loews Corporation was $1.4 billion ($6.29 diluted per share) in 2023, up from $822 million ($3.38 diluted per share) in 2022. The company cited higher net investment income at CNA and improved underwriting income as factors.
The company said CNA's net investment income rose $459 million in 2023 compared with 2022, citing favorable limited partnership returns and higher income from fixed income securities amid a rising interest rate environment. Investment losses fell $100 million.
The company said Parent Company cash and investments, net of receivables and payables, fell to $2.6 billion on December 31, 2023 from $3.2 billion on December 31, 2022. It received $1.0 billion in cash dividends from subsidiaries in 2023 and paid $849 million to buy back common stock.
Boardwalk Pipelines said net income attributable to Loews Corporation rose $36 million in 2023 compared with 2022, and total revenues increased $190 million. The company cited re-contracting at higher rates and recently completed growth projects as drivers of higher transportation revenues.

Key figures

Fiscal year ended December 31, 2023

Revenue: $2.4B
Net income: $1.4B
EPS: $6.29
Operating cash flow: $3.9B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Loews net income attributable to Loews Corporation for 2023 $1.4 billion

The company said net income attributable to Loews Corporation was $1.4 billion ($6.29 diluted per share) in 2023, up from $822 million ($3.38 diluted per share) in 2022. The company cited higher net investment income at CNA and improved underwriting income as factors.

Source · Based on the MD&A text of the filing

CNA net investment income up $459 million

The company said CNA's net investment income rose $459 million in 2023 compared with 2022, citing favorable limited partnership returns and higher income from fixed income securities amid a rising interest rate environment. Investment losses fell $100 million.

Source · Based on the MD&A text of the filing

Parent Company cash and investments, net $2.6 billion

The company said Parent Company cash and investments, net of receivables and payables, fell to $2.6 billion on December 31, 2023 from $3.2 billion on December 31, 2022. It received $1.0 billion in cash dividends from subsidiaries in 2023 and paid $849 million to buy back common stock.

Source · Based on the MD&A text of the filing

Boardwalk Pipelines net income up $36 million

Boardwalk Pipelines said net income attributable to Loews Corporation rose $36 million in 2023 compared with 2022, and total revenues increased $190 million. The company cited re-contracting at higher rates and recently completed growth projects as drivers of higher transportation revenues.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.