Loews Reports Higher Profit and Book Value Despite Underwriting Challenges
Loews Corporation (NYSE:L) reported a rise in second-quarter net income to $444 million, or $2.16 per share, compared to $391 million, or $1.87 per share, in the same period last year. Book value per share also increased from $90.71 at the end of 2025 to $93.52 as of June 30, 2026. Three out of four business segments—CNA Financial (NYSE:CNA), Boardwalk Pipelines, and Loews Hotels—posted higher profits than a year ago due to factors such as improved investment income, stronger gas transportation rates, and increased hotel occupancy. However, CNA's core underwriting performance declined slightly amid rising claims costs and lower-than-expected pricing in certain lines. Despite the strong overall earnings from its subsidiaries, Loews' insurance unit showed signs of weakening profitability over two consecutive quarters, with a widening combined ratio indicating growing pressure on margins.
