Loews Corporation announced higher second-quarter earnings driven by stronger performance across its major operating divisions. The diversified holding company recorded net income of $444 million, or $2.16 per share, compared with $391 million, or $1.87 per share, in the corresponding quarter of the prior year. Quarterly revenue climbed to $4.73 billion from $4.56 billion a year earlier, reflecting across-the-board improvement in operating performance.
CNA Financial, Loews’ largest subsidiary, contributed net income attributable to Loews of $294 million, up from $274 million in the prior-year quarter. The gains were primarily attributable to stronger net investment income and reduced investment losses, though this was partially offset by weaker underwriting performance. Within CNA’s Property & Casualty division, the combined ratio rose to 96.5% from 94.1% in the prior year, with the underlying loss ratio increasing to 64.1% from 61.5%, reflecting elevated claims costs and lower-than-anticipated pricing in certain insurance lines.
Boardwalk Pipelines achieved net income of $100 million during the quarter, up from $88 million a year earlier, supported by improved contract pricing for natural gas transportation and higher product sales. Loews Hotels demonstrated particularly strong results, with net income rising 71% to $48 million from $28 million in the prior-year period. The hotel segment benefited from higher average daily room rates and improved occupancy levels across its properties, with notable contributions from Universal Orlando Resort locations and the renovated Miami Beach Hotel.
The company’s financial position remained robust, with book value per share reaching $93.52 as of June 30, 2026, compared with $90.71 at year-end 2025. During the quarter, Loews repurchased approximately 1.4 million shares for $146 million. As of the reporting period’s end, the parent company maintained $4.4 billion in cash and investments against total debt of $1.8 billion.
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