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Loews Reports 1Q Loss Investment, Property Charges
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NEW YORK (AP) — Diversified holding company Loews Corp. said Monday it recorded a first-quarter loss because of mounting investment losses in its majority-owned insurance subsidiary and charges tied to gas and oil properties at another unit.
Loews lost $647 million, or $1.49 per share, during the first quarter, compared with earnings of $662 million, or $1.05 per share, during the same quarter last year.
The holding company was hurt by mounting realized investment losses at insurer CNA Financial. Loews owns a 90 percent stake in CNA Financial. ...
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