Loews Swings to Loss, Hurt by CNA Financial

Conglomerate Loews(L Quote) swung to a loss in the first quarter, hurt by investment losses at insurer CNA Financial(CNA Quote) and charges at its natural gas unit.

The company, owned by the Tisch family, saw a loss of $647 million, or $1.49 a share, compared with a profit of $409 million, or 77 cents a share, in the same period a year ago.

Investment losses and a decrease in written premiums hurt CNA, which posted a loss of $195 million, or 84 cents a share, compared with a profit of $187 million, or 69, a year ago. Loews owns a 90% stake in CNA. ...