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.

Revenue increased by 2 percent to $3.74 billion from the previous year. Net investment income at Loews increased to $726 million from $661 million, a year ago.

Net realized investment gains at CNA Financial tripled to $24 million from $8 million a year ago.

Net operating profit at the seventh largest commercial insurer in the U.S. rose to $226 million, or 84 cents per share, from $213 million, or 79 cents per share, a year ago.

Analysts expected CNA Financial to earn 69 cents per share.

Rate trends were favorable and CNA Financial recorded a growth in premium at both its property and casualty segments, Chief Executive Thomas Motamed said in a statement on Monday.

CNA Financial's larger rival Travelers' Cos Inc also posted quarterly profit that blew past estimates earlier this month, helped by rising insurance rates after years of weakness.

Profit from Diamond Offshore Drilling Inc – in which Loews has a 50.4 percent stake – fell to $796 million from $809 million a year ago. However, the company said it was optimistic about winning more rig contracts as the market strengthens.

Diamond Offshore, which has a market value of $9.20 billion, said it will pay a special dividend of 75 cents per share and a regular quarterly cash dividend of 12.5 cents per share.

Shares of New York-based Loews closed at $41.01 on Friday on the New York Stock Exchange. Shares of Chicago-based CNA Financial closed at $30.15.

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