Loews (NYSE:L) capped a strong fiscal 2025 with a significant jump in annual net income, driven by robust performance at its insurance subsidiary CNA Financial and a strategic multi-billion dollar share repurchase program.
The New York-based holding company, led by CEO Ben Tisch, reported full-year net income of $1.67 billion, or $7.97 per share—a substantial increase from its 2024 performance.
For the fourth quarter alone, net income rose to $402 million ($1.94 per share) compared to $187 million in the prior-year period.
The sharp year-over-year climb was partially attributed to the non-recurrence of a massive $265 million after-tax pension settlement charge that had weighed on CNA's 2024 results.
The company’s intrinsic value continued to climb, with book value per share reaching $90.71 as of Dec. 31, 2025, up from $79.49 a year earlier.
Excluding accumulated other comprehensive income (AOCI), book value stood at $95.89.
Loews also remained one of the most aggressive buyers of its own stock in the diversified financials sector, repurchasing 8.9 million shares throughout the year for a total of $782 million.
On the legal front, the company continues to navigate the long-running "Boardwalk" litigation.