Loews' profit rises on strength across insurance, pipeline and hotel businesses

Net income attributable to Loews rose to $444 million, or $2.16 per share, in the three months ended June 30, compared with $391 million, or $1.87 per share, a year earlier.

• The company generates the bulk of its revenue from CNA Financial, the insurance giant in which it owns a more than 90% stake, according to data compiled by LSEG.
• Quarterly income at Loews' insurance unit rose 7.3% to $294 million, while core income decreased 3.3% to $324 million from a year ago, driven by lower underlying underwriting results partially offset by higher net investment income.
• Net investment income rose to $761 million from $714 million at Loews from a year ago, while combined ratio increased by 2.4 percentage points to 96.5% at the insurance unit.
• A ratio below 100% means an insurer earned more in premiums than it paid out in claims.
• Net income at Boardwalk Pipelines and Loews Hotels rose 13.6% and 71.4% to $100 million and $48 million respectively.

Aug. 3 (Reuters) - Loews Corp reported a rise in second-quarter profit on Monday, helped by strong performance across its businesses.

Loews operates in insurance, energy, hospitality and packaging via units including CNA Financial, Boardwalk Pipelines and Loews Hotels.