© Reuters. FILE PHOTO: James Tisch, President and Chief Executive of Loews Corporation, speaks during The Economist's Buttonwood Gathering in New York October 25, 2012. REUTERS/Carlo Allegri/File Photo) on Monday reported a profit in the third quarter compared to a loss a year earlier, boosted by higher investments and insurance unit CNA Financial's strong performance.
Investment income for the New York-based company jumped to $592 million in the third quarter ended Sept. 30 from $404 million a year earlier. The company reported an underlying combined ratio of 90.4% in its property and casualty business, compared with 91.1% a year earlier. A ratio below 100% means an insurer earned more in premiums than it paid out in claims.
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