Income StatementBalance SheetCash FlowSegments
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Loews Business Segments

Business, geographic, and product segment breakdowns

Loews generates $18.5B in annual revenue across 4 key segments: Boardwalk Pipeline Partners, LP ($2.3B), CNA Financial ($15.0B), Corporate ($189.0M), and Loews Hotels Holding Corporation ($954.0M). Based on the Q1 2026 filing.

Boardwalk Pipeline Partners, LP (TTM)$2.3BCNA Financial (TTM)$15.0BCorporate (TTM)$189.0MLoews Hotels Holding Corporation (TTM)$954.0M
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$22.2B
P/E Ratio13.60
ROE9.1%

Products & Services

Cumulative amounts ceded under loss portfolio transfer

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
A&EP Reserves$3.7B$3.7B$3.7B$3.7B$3.9B$3.9B

Fair value of collateral trust account

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
A&EP Reserves$2.3B$2.3B$2.2B$2.3B$2.4B$2.6B

Retroactive reinsurance benefit recognized

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
A&EP Reserves—$17.0M$8.0M$14.0M—$22.0M

Unrecognized deferred retroactive reinsurance benefit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
A&EP Reserves$425.0M$408.0M$400.0M$386.0M$470.0M$448.0M

Total pretax unfavorable development

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General liability$28.0M—$62.0M—$52.0M$55.0M
Other professional liability and management liability$21.0M$0.0$18.0M$25.0M$26.0M$45.0M
Other insurance operations$22.0M$22.0M$112.0M$0.0$0.0$0.0

Total revenues from contracts with customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Transportation and storage of natural gas and NGLs and ethane supply and transportation services – Boardwalk Pipelines$556.0M$609.0M$523.0M$530.0M$601.0M$612.0M
Non-insurance warranty – CNA Financial$397.0M$397.0M$398.0M$393.0M$389.0M$374.0M
Lodging and related services – Loews Hotels & Co$233.0M$237.0M$246.0M$202.0M$226.0M$246.0M

Total pretax (favorable) unfavorable development

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property and casualty operations$131.0M$61.0M-$4.0M-$1.0M—$100.0M

Loss from catastrophes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total property & casualty operations$45.0M$97.0M$62.0M$41.0M$40.0M$88.0M

Business Segments

Amount of debt redeemed

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP—————$550.0M

Benefits, Losses and Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$3.7B$3.3B$3.3B$3.3B$3.5B$3.4B
Boardwalk Pipeline Partners, LP$432.0M$420.0M$420.0M$422.0M$478.0M$420.0M
Loews Hotels Holding Corporation$208.0M$241.0M$215.0M$214.0M$223.0M$217.0M
Corporate$50.0M$41.0M$44.0M$42.0M$42.0M$45.0M

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP$108.0M$106.0M$120.0M$107.0M$110.0M$111.0M
Loews Hotels Holding Corporation$24.0M$24.0M$24.0M$27.0M$25.0M$26.0M
Corporate—$1.0M—$1.0M—$1.0M

Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$21.0M$349.0M$380.0M$513.0M$378.0M$267.0M
Boardwalk Pipeline Partners, LP14500000000.0%20200000000.0%11700000000.0%12400000000.0%14100000000.0%21100000000.0%
Corporate—-$41.0M$3.0M$55.0M$10.0M-$52.0M
Loews Hotels Holding Corporation3200000000.0%400000000.0%3900000000.0%-300000000.0%1200000000.0%3700000000.0%

Income Tax Expense (Benefit)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$0.0$75.0M$81.0M$110.0M$76.0M$56.0M
Boardwalk Pipeline Partners, LP$0.0$50.0M$29.0M$30.0M$31.0M$52.0M
Loews Hotels Holding Corporation$5.0M$4.0M$11.0M$0.0$6.0M$11.0M
Corporate—-$7.0M$2.0M$13.0M$0.0-$10.0M

Interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP$46.0M$39.0M$40.0M$40.0M$42.0M$43.0M
CNA Financial$32.0M$32.0M$31.0M$36.0M$36.0M$33.0M
Corporate$18.0M$18.0M$18.0M$18.0M$18.0M$22.0M
Loews Hotels Holding Corporation$14.0M$16.0M$18.0M$18.0M$17.0M$15.0M

Interest rate (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP7.3%———7.3%6.0%

Net Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$21.0M$274.0M$299.0M$403.0M$302.0M$211.0M
Boardwalk Pipeline Partners, LP$145.0M$152.0M$88.0M$94.0M$110.0M$159.0M
Corporate$0.0-$34.0M$1.0M$42.0M$10.0M-$42.0M
Loews Hotels Holding Corporation$27.0M$0.0$28.0M-$3.0M$6.0M$26.0M

Net investment income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$644.0M$604.0M$662.0M$638.0M$653.0M$610.0M
Boardwalk Pipeline Partners, LP$10.0M$1.0M$3.0M$4.0M$6.0M$5.0M
Corporate$40.0M$0.0$47.0M$97.0M$52.0M-$5.0M
Loews Hotels Holding Corporation$2.0M$3.0M$2.0M$4.0M$3.0M$3.0M

Operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP$199.0M$192.0M$177.0M$190.0M$241.0M$176.0M
Loews Hotels Holding Corporation$149.0M$153.0M$147.0M$144.0M$145.0M$153.0M

Operating expenses and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP$386.0M$381.0M$380.0M$382.0M$436.0M$377.0M
CNA Financial$766.0M$363.0M$368.0M$376.0M$409.0M$370.0M
Loews Hotels Holding Corporation$221.0M$231.0M$226.0M$221.0M$248.0M$246.0M
Corporate$19.0M$16.0M$15.0M$21.0M$17.0M$16.0M

Operating revenues and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP$567.0M$621.0M$534.0M$542.0M$613.0M$626.0M
Loews Hotels Holding Corporation$238.0M$242.0M$252.0M$207.0M$232.0M$251.0M
CNA Financial$8.0M$9.0M$9.0M$10.0M$8.0M$10.0M

Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP$79.0M$83.0M$83.0M$85.0M$85.0M$90.0M
Loews Hotels Holding Corporation$48.0M$54.0M$55.0M$50.0M$78.0M$67.0M
CNA Financial$428.0M$42.0M$31.0M$52.0M$42.0M$38.0M
Corporate$19.0M$15.0M$15.0M$20.0M$17.0M$15.0M

Remaining performance obligations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Boardwalk Pipeline Partners, LP———$5.7B$9.9B$9.5B

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$3.7B$3.6B$3.7B$3.8B$3.8B$3.7B
Boardwalk Pipeline Partners, LP$577.0M$622.0M$537.0M$546.0M$619.0M$631.0M
Loews Hotels Holding Corporation$240.0M$245.0M$254.0M$211.0M$235.0M$254.0M
Corporate$40.0M$0.0$47.0M$97.0M$52.0M-$7.0M

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$66.4B$67.3B$68.9B$69.7B$69.4B$68.5B
Boardwalk Pipeline Partners, LP$9.9B$9.9B$10.0B$10.1B$10.6B$10.2B
Corporate$3.2B$3.4B$3.3B$3.6B$3.9B$4.4B
Loews Hotels Holding Corporation$2.5B$2.5B$2.5B$2.5B$2.5B$2.5B

Amortization of deferred acquisition costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$462.0M$471.0M$469.0M$483.0M$475.0M$476.0M

Gain (Loss) on Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial-$39.0M-$9.0M-$46.0M-$7.0M-$19.0M-$18.0M

Insurance claims and policyholders’ benefits (re-measurement loss of $19 and $8)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$2.0B$2.0B$2.1B$2.0B$2.2B$2.2B

Insurance premiums

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$2.7B$2.6B$2.7B$2.8B$2.8B$2.7B
Corporate—————-$2.0M

Insurance related administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$338.0M$321.0M$337.0M$324.0M$367.0M$332.0M

Net Income (Loss) Attributable to Noncontrolling Interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$2.0M$22.0M$25.0M$32.0M$26.0M$17.0M

Non-insurance Warranty Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$378.0M$385.0M$384.0M$377.0M$380.0M$356.0M

Non-Insurance Warranty Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CNA Financial$397.0M$397.0M$398.0M$393.0M$389.0M$374.0M

Income (Loss) from Equity Method Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Loews Hotels Holding Corporation$27.0M$6.0M$29.0M$25.0M$42.0M$44.0M
Corporate-$13.0M-$7.0M-$11.0M-$3.0M-$7.0M-$7.0M

Debt Instrument, Face Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Segment$500.0M———$500.0M$500.0M