Tobacco.org

Loews Q1 Profit Falls On Lower Revenues From CNA Financial, Lorillard - Update [LTR] 

Loews Corp. (LTR), a commercial property and casualty insurance provider, reported a decline in its first-quarter profit, reflecting lower results from CNA Financial and Lorillard, and net investment losses compared to prior year's gains. The company also said that Carolina Group's (CG) first-quarter net income declined on higher expenses related to the proposed spin-off of Lorillard, and lower investment income.

The company's first-quarter consolidated net income, including both the Loews Group and Carolina Group, was $662 million, lower than $768 million in the previous year.

Jump to full article »