Question 1

What is Loews's deferred policy acquisition costs?

Accepted Answer

Loews (L) reported deferred policy acquisition costs of $1.01B in Q1 2026.

Question 2

How has Loews's deferred policy acquisition costs changed year-over-year?

Accepted Answer

Loews's deferred policy acquisition costs increased by 0.9% year-over-year, from $999M to $1.01B.

Question 3

What is the long-term trend for Loews's deferred policy acquisition costs?

Accepted Answer

Over 5 years (2020 to 2025), Loews's deferred policy acquisition costs has grown at a 6.8% compound annual growth rate (CAGR), from $708M to $986M.

Question 4

What does deferred policy acquisition costs mean?

Accepted Answer

These are capitalized costs directly related to the successful acquisition of new or renewal insurance contracts, such as commissions and underwriting expenses. These costs are deferred on the balance sheet and amortized over the estimated life of the related insurance policies to match expenses with the recognition of premium revenue. This metric reflects the company's investment in business growth and customer acquisition efficiency.

Line item	March 31, 2026	December 31, 2025
Property, plant and equipment	10,775	10,695
Goodwill	348	349
Deferred non-insurance warranty acquisition expenses	3,098	3,220
Deferred acquisition costs of insurance subsidiaries	1,008	986
Other assets	4,303	4,244
Total assets	$85,652	$86,348
Liabilities and Equity:
Insurance reserves:

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