April 30 (Reuters) – Hotels, energy and financial services conglomerate Loews Corp posted quarterly results ahead of analysts' expectations, helped by an increase in its investment income and lower catastrophe losses at CNA Financial Corp , its biggest holding.
Catastrophe losses after tax at CNA Financial – in which Loews has a 90 percent stake – halved to $18 million for the first quarter from $36 million a year ago.
Net income attributable to Loews - run by the billionaire Tisch family – was $367 million, or 92 cents per share, for the quarter ended March 31, compared with $379 million, or 92 cents per share, from a year ago.
Analysts on average had expected the company to earn 90 cents per share, according to Thomson Reuters I/B/E/S.
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