Loews Q3 Profit Rises On Higher Insurance Premiums

(RTTNews) - Loews Corporation on Monday reported higher profit for the third quarter, mainly supported by growth in insurance premiums.

Net income increased to $504 million, or $2.43 per share, from $401 million, or $1.82 per share a year ago.

Income before income tax rose to $689 million from $550 million a year earlier.

Revenue grew 4.6% to $4.671 billion, driven by higher insurance premiums of $2.783 billion, up from $2.593 billion a year ago.

Net investment income, however, slightly declined to $743 million from $776 million last year.

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