Loews Profit Falls on Lower Income from Subsidiaries

Otmane El Rhazi from Oil & Gas News.

Hotel, energy and financial services conglomerate Loews Corp reported a 26 percent drop in quarterly profit due to lower investment income and weaker earnings from its oil rig and insurance subsidiaries. Net income attributable to Loews fell to $208 million, or 55 cents per share, in the third quarter ended Sept.