Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability and other coverage products; surety and fidelity bonds; professional liability coverages and risk management services to various professional firms, including architects, real estate agents, and accounting and law firms; standard and excess property, marine and boiler, machinery coverages, workers' compensation, general and product liability, commercial auto, umbrella, excess and surplus coverages, specialized loss-sensitive insurance programs, total risk management services relating to claim and information services; directors and officers, errors and omissions, employment practices, fiduciary, fidelity, and cyber coverages, as well as for small and mid-size firms, public and privately held firms, and not-for-profit organizations; and insurance products to serve the health care industry, including professional and general liability, as well as associated casualty coverage to aging services, allied medical facilities, dentists, physicians, nurses, and other medical practitioners. It also provides warranty and alternative risk, and run-off long-term care insurance products; ethane supply and transportation services for petrochemical customers, as well as transports and stores natural gas and natural gas liquids; operates a chain of hotels; develops, manufactures, and markets a range of extrusion blow-molded and injection molded plastic containers; and manufactures commodities and differentiated plastic resins. The company markets its insurance products and services through a network of retail and wholesale brokers, independent agents, brokers, and managing general underwriters. Loews Corporation was incorporated in 1969 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $18.2B | - | $1.7B | $2.7B | 8.9% | 5.4% | 17.9% |
| 2024 | $17.2B | - | $1.4B | $2.4B | 8.3% | 10.0% | -1.4% |
| 2023 | $15.7B | - | $1.4B | $3.2B | 9.1% | 11.6% | 74.5% |
| 2022 | $14.1B | - | $822M | $2.7B | 5.7% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 14,050 | 15,678 | 17,239 | 18,176 |
| Operating Revenue | - | 14,050 | 15,678 | 17,239 | 18,176 |
| Total Expenses | - | 12,936 | 13,682 | 15,365 | 15,893 |
| EBIT | - | 1,492 | 2,372 | 2,315 | 2,720 |
| Interest Expense | - | 378 | 376 | 441 | 437 |
| Net Interest Income | - | -378 | -376 | -441 | -437 |
| Other Income Expense | - | 3,774 | 4,079 | 4,600 | 4,856 |
| Interest Expense Non Operating | - | 378 | 376 | 441 | 437 |
| Net Non Operating Interest Income Expense | - | -378 | -376 | -441 | -437 |
| Pretax Income | - | 1,114 | 1,996 | 1,874 | 2,283 |
| Tax Provision | - | 223 | 451 | 380 | 511 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 10.40 | 0 | 0 |
| Net Income Continuous Operations | - | 891 | 1,545 | 1,494 | 1,772 |
| Net Income From Continuing And Discontinued Operation | - | 822 | 1,434 | 1,414 | 1,667 |
| Net Income From Continuing Operation Net Minority Interest | - | 822 | 1,434 | 1,414 | 1,667 |
| Net Income | - | 822 | 1,434 | 1,414 | 1,667 |
| Net Income Common Stockholders | - | 822 | 1,434 | 1,414 | 1,667 |
| Net Income Including Noncontrolling Interests | - | 891 | 1,545 | 1,494 | 1,772 |
| Normalized Income | - | 822 | 1,398.40 | 1,414 | 1,667 |
| Diluted NI Availto Com Stockholders | - | 822 | 1,434 | 1,414 | 1,667 |
| Basic Average Shares | - | 242.83 | 227.48 | 220.53 | 208.96 |
| Diluted Average Shares | - | 243.28 | 227.81 | 220.53 | 209.10 |
| Reconciled Depreciation | - | 509 | 538 | 583 | 610 |
| Total Unusual Items | 555 | - | 46 | - | - |
| Total Unusual Items Excluding Goodwill | 555 | - | 46 | - | - |
| Minority Interests | - | -69 | -111 | -80 | -105 |
| Special Income Charges | 555 | - | 46 | - | - |
| Other Special Charges | -555 | - | - | - | - |
| Restructuring And Mergern Acquisition | - | - | -46 | - | - |
| Other Operating Expenses | - | 4,548 | 4,937 | 5,717 | 5,616 |
| Loss Adjustment Expense | - | 6,653 | 7,068 | 7,738 | 8,294 |
| Net Policyholder Benefits And Claims | - | 6,653 | 7,068 | 7,738 | 8,294 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Loews Corporationthis co. | L | $21.6B | 12.96 | 1.16 | 8.9% | - |
| W. R. Berkley Corporation | WRB | $24.7B | 13.87 | 2.54 | 18.3% | - |
| Willis Towers Watson Public Limited Company | WTW | $24.4B | 15.22 | 3.06 | 20.1% | 10.72 |
| Regions Financial Corporation | RF | $24.3B | 11.25 | 1.37 | 12.2% | - |
| Synchrony Financial | SYF | $23.8B | 6.86 |
| - |
| - |
| - |
| - |
| 1.42 |
| 20.7% |
| - |
| KeyCorp | KEY | $23.5B | 12.85 | 1.31 | 10.2% | - |
| T. Rowe Price Group, Inc. | TROW | $22.9B | 11.25 | 2.11 | 18.8% | 6.48 |
| Principal Financial Group, Inc. | PFG | $22.4B | 18.87 | 1.88 | 10.0% | - |
| Brown & Brown, Inc. | BRO | $19.4B | 18.65 | 1.55 | 8.3% | 12.86 |
| Peer Median | - | 13.36 | 1.72 | 15.3% | 10.72 | |