L - Loews Q4 net income hurt by lower investment gains morbidity

Loews (NYSE:L) stock drops 2.1% in premarket trading after Q4 net income slid from a year ago as its CNA (NYSE:CNA) insurance unit experienced lower net investment gains, lower results from its life and group businesses, and higher net catastrophe losses.  CNA's  (CNA) lower results were driven by unfavorable morbidity at its Life & Group business and higher net catastrophe losses, partly offset by higher P&C non-catastrophe underwriting results. CNA income before income tax fell to $330M from $477M a year ago. Loews Hotels improved from a year ago on the continuing rebound in leisure travel. The unit's income before income tax rose to $52M vs. a loss of $82M a year ago. Boardwalk Pipelines' earnings fell to $74M from $111M a year ago, which had included a bankruptcy settlement. Loews (L) parent company investment portfolio saw net investment income fall to $59M from $92M in Q4 2020. Q4 net income of $343M, or

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Loews Q4 net income hurt by lower investment gains, morbidity