Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Investment income exceeded the whole group's pretax profit
As underwriting margins thinned, the money CNA holds before paying claims carried the quarter; a year earlier they were nearly level.
For investorsWhat has to hold for CNA's underwriting margin to recover?
For foundersSelling capacity before building it: the pipeline playbook
The filing ties it to a long-term care reserve review, heavier storm losses and a rising loss trend, all at once.
Capital spending has risen quarter after quarter as Boardwalk builds capacity customers signed for, with the revenue arriving only years later.
Boardwalk earns reservation charges under firm contracts, so most of its revenue follows contracts signed in earlier years, not gas volumes.
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Business Lens describes Loews Corporation from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
