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KBW Maintains CNA Financial(CNA.US) With Hold Rating, Raises Target Price to $55
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The insurance company Loews Corp (L.US) increased its third quarter profit by nearly 60%.
Insurance company Loews Corp (L.US) announced on Monday that third-quarter profit increased by 58% year-on-year to $0.401 billion, or $1.82 per share, benefiting from higher investment income and strong performance in the insurance segment. Most of the revenue for the quarter came from its insurance business CNA Financial, of which the company holds over 90% of the shares. Quarterly premiums increased to $2.59 billion year-on-year. At the same time, investment income rose from $0.592 billion in the same period last year to $0.776 billion.