- Loews Corp on Monday reported a near 22% jump in first-quarter profit compared with the previous year, helped by higher premiums and strong returns on its investments.
The company earns most of its revenue from its insurance unit CNA in which it holds an about 90% stake.U.S. government bonds have rallied on rising hopes of the U.S. Federal Reserve successfully executing a soft landing as inflation cools down and that has induced confidence among market participants."CNA continues to experience strong profitable growth, reporting its highest ever first-quarter core income," said James S.
The income attributable to Loews in the reported quarter was $457 million, or $2.05 per share, up from $375 million, or $1.61 per share, a year earlier.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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