Loews said today it will publish third quarter results on Monday, November 3, 2025, with management remarks posted to its site that day, and with commentary from CEO Ben Tisch and CFO Jane Wang, a cadence the company has adopted this year. Notably, Loews opts for posted remarks over a live call. See the issuer notice in Loews’ own release for the date and format.
Track Segment Drivers Into Q3
Start with the moving parts. In the second quarter of 2025, Loews reported net income of 391 million dollars and highlighted three operational levers into the back half: steady underwriting at majority owned CNA Financial, higher re contracting rates at Boardwalk Pipelines, and mixed hotel earnings as three new Universal Orlando properties ramped, all against a larger parent level buyback.
Parent book value per share rose to 84.42 dollars at June 30, and book value per share excluding AOCI rose to 91.66 dollars; Loews also repurchased 2.9 million shares for 251 million dollars and ended the quarter with 3.4 billion dollars of cash and investments and 1.8 billion dollars of parent debt. The Q3 setup therefore leans on insurance core profitability, tariffed midstream cash flows, and incremental hotel occupancy and ADR lift, though hotel equity income has been tempered by higher depreciation and interest from new openings.
CNA’s Q2 data offer the clearest read through. Property and casualty combined ratio was 94.1 percent, with an underlying combined ratio of 91.7 percent, net investment income increased 7 percent to 662 million dollars pretax, and gross written premiums excluding captives rose 5 percent while net written premiums rose 6 percent, a mix consistent with firm commercial pricing in casualty and stable rate in aggregate. For domestic investors used to TSX listed P and C carriers, the cadence of underwriting margin and investment yield is the through line. “Core income was 335 million in the quarter, up 9 million over last year,” said Douglas M. Worman, President and CEO of CNA Financial.
Watch Capital, Currency, And Catastrophes
Capital allocation is active. Loews’ Q2 buyback and balance sheet position give management room to keep shrinking share count and to fund subsidiaries selectively, which matters when insurance loss cost trends and hotel capex profiles diverge. For a Canada based account, remember all numbers are in U.S. dollars, so reported returns translate with CAD USD on settlement, and Bank of Canada path and FX basis can widen or narrow headline moves in loonie terms over the quarter. Hurricane season sits squarely in the Q3 window, so catastrophe experience will influence CNA’s all in combined ratio in the print.
Map Read Throughs To TSX Peers
From a portfolio perspective, CNA’s rate and retention backdrop is directionally relevant for North American commercial lines, including carriers operating in Canada, and the company explicitly reports business across the U.S., Canada, and Europe through CNA Canada. Boardwalk’s improvement from re contracting at higher rates and recent growth projects is a useful cross check against contracted, inflation linked toll structures used by Canadian midstream operators, where earnings gravity still comes from throughput, tariff escalators, and capital discipline. Finally, management timing is set: “Loews Corporation will report third quarter 2025 financial results on Monday, November 3, 2025,” the company stated, which anchors the near term catalyst calendar. Results day matters, even without a live Q and A.
