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.
Copyright (c) 2022 CercleFinance.com. All rights reserved.