Feb. 7 at 9:45 a.m.
Filed under:
Earnings,
Insurance,
Updated
By Reuters
Loews Corp. reported its best quarter of the year as strong investment income from its biggest holding, CNA Financial, helped the conglomerate post a better-than-expected 16 percent increase in quarterly profit.
New York-based Loews, run by the billionaire Tisch family, said net investment income rose 20 percent to $711 million for the fourth quarter. Get the full story »
Feb. 4 at 8:02 a.m.
Filed under:
Insurance,
M&A
By Ameet Sachdev
CNA Surety Corp. said Friday that it has rejected a $375 million buyout offer by its majority owner, CNA Financial Corp. A special committee of CNA Surety’s board said the $22-per-share bid by CNA Financial Corp. “substantially undervalues” the company, but the committee said it was open to more discussions with CNA Financial. Get the full story »
Nov. 1, 2010 at 10:07 a.m.
Filed under:
Insurance,
Stock activity
By Ameet Sachdev
CNA Financial Corp. has offered to purchase the stock of CNA Surety Corp. that it doesn’t own.
CNA Surety, which provides surety and fidelity bonds, said its board of directors has formed a special committee to consider the proposal. CNA Financial is offering $22 for each share. Get the full story »
Nov. 1, 2010 at 8:05 a.m.
Filed under:
Earnings,
Insurance
By Ameet Sachdev
CNA Financial Corp. reported a $140 million loss, or 59 cents a share, in the third quarter, as the company recorded a loss from its previously announced agreement to transfer its legacy asbestos liabilities to Berkshire Hathaway Inc. Get the full story »
Aug. 2, 2010 at 9:27 a.m.
Filed under:
Earnings,
Insurance,
Updated
By Reuters
Loews Corp posted a better-than-expected 8 percent rise in quarterly net profit, as the hotels and energy conglomerate recorded a gain on investments compared to significant investment losses a year earlier.
Loews, run by the billionaire Tisch family, posted investment gains of $1 million in the second quarter. A year earlier, Loews lost $178 million on investments. Get the full story »
July 15, 2010 at 7:54 a.m.
Filed under:
Insurance
By Dow Jones Newswires
Commercial insurance writer CNA Financial Corp. said it has in place an agreement to transfer about $1.6 billion of net asbestos and pollution liabilities to Berkshire Hathaway Inc.’s National Indemnity Co. unit. Get the full story »
July 14, 2010 at 1:32 p.m.
Filed under:
Chicago executives,
Economy
By Reuters
The Obama administration is making businesses feel “unloved” and reluctant to put money to work, hampering the U.S. economic recovery, the chief executive of U.S. conglomerate Loews Corp., which owns CNA Financial among other companies, said Wednesday.
Companies are hunkering down amid uncertainty about the future cost of doing business and are further unnerved by the Obama administration’s response to the BP Plc oil spill, CEO James Tisch told Reuters in an interview. Get the full story »