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L - Loews Q2 hit by bankruptcy catastrophe losses pandemic
Loews Corporation
Loews (NYSE:L) swings to a Q2 net loss per share of $2.96 compared with net income of 82 cents per share in the year-ago quarter, driven by a $957M writedown on the carrying value of its interest in Diamond Offshore Drilling (NYSE:DO) as a result of its bankruptcy filing, significant catastrophe losses at CNA Financial (NYSE:CNA), and operating losses at Loews Hotels.
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