Loews Corp. (L) Reports Q4 EPS of $1.45
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Loews Corp. (NYSE: L) reported Q4 EPS of $1.45, versus $0.73 reported last year.
Loews Hotels & Co posted a net loss for the fourth quarter of 2020 due to the revenue impact of the COVID-19 pandemic. The fourth quarter of 2019 included a net loss from Diamond Offshore Drilling, Inc., which was not a consolidated subsidiary in the fourth quarter of 2020.
"CNA delivered excellent property and casualty underwriting results in 2020, even while faced with a once-in-a-century pandemic, record catastrophe losses, and historically low interest rates. CNA's strong performance underscores the company's continued focus on disciplined and profitable underwriting. Rates increased 11% for the full year and new business flow was solid, resulting in strong premium growth. The underlying combined ratio of 93.1% for the full year represents an improvement of more than one full point over 2019," said James Tisch, CEO of Loews.
For earnings history and earnings-related data on Loews Corp. (L) click here.
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