Loews Corp: Q3 earnings down 26%

(CercleFinance.com) - Insurance, hospitality and energy conglomerate Loews Corp has reported Q3 2022 net income of 130 million dollars, or $0.
54 per share, compared with EPS of $0.85 a year ago.

Loews Hotels continues to perform exceptionally well, and its insurance company CNA Financial produced an excellent underlying combined ratio of 91.1%, the group commented.

Book value per share declined to 58.14 dollars at the end of September, from 71.84 dollars at the end of 2021, reflecting the impact of higher risk-free interest rates and wider credit spreads on CNA's fixed income portfolio.



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