Loews (L) 10-Q 29 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 19, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	LOEWS CORP
Entity Central Index Key	0000060086
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	L
Entity Common Stock, Shares Outstanding		304,887,983
Entity Emerging Growth Company	false
Entity Small Business	false

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets:
Fixed maturities, amortized cost of $37,985 and $38,234	$ 40,602	$ 39,699
Equity securities, cost of $1,376 and $1,479	1,326	1,293
Limited partnership investments	2,120	2,424
Other invested assets, primarily mortgage loans	933	901
Short term investments	4,487	3,869
Total investments	49,468	48,186
Cash	339	405
Receivables	8,012	7,960
Property, plant and equipment	15,407	15,511
Goodwill	682	665
Deferred non-insurance warranty acquisition expenses	2,576	2,513
Deferred acquisition costs of insurance subsidiaries	664	633
Other assets	3,301	2,443
Total assets	80,449	78,316
Liabilities and Equity:
Claim and claim adjustment expense	21,836	21,984
Future policy benefits	11,078	10,597
Unearned premiums	4,422	4,183
Total insurance reserves	37,336	36,764
Payable to brokers	307	42
Short term debt	132	17
Long term debt	11,229	11,359
Deferred income taxes	1,084	841
Deferred non-insurance warranty revenue	3,472	3,402
Other liabilities	4,987	4,505
Total liabilities	58,547	56,930
Commitments and contingent liabilities
Preferred stock, $0.10 par value:
Common stock, $0.01 par value:	3	3
Additional paid-in capital	3,607	3,627
Retained earnings	16,144	15,773
Accumulated other comprehensive loss	(390)	(880)
Shareholders' equity before treasury stock, total	19,364	18,523
Less treasury stock, at cost (6,929,267 and 100,000 shares)	(327)	(5)
Total shareholders' equity	19,037	18,518
Noncontrolling interests	2,865	2,868
Total equity	21,902	21,386
Total liabilities and equity	$ 80,449	$ 78,316

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Fixed maturities, amortized cost	$ 37,985	$ 38,234
Equity securities, cost	$ 1,376	$ 1,479
Preferred stock, par value	$ 0.10	$ 0.10
Preferred stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,800,000,000	1,800,000,000
Common stock, shares issued	312,435,202	312,169,189
Treasury stock, shares	6,929,267	100,000

Consolidated Condensed Statemen

Consolidated Condensed Statements of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Insurance premiums	$ 1,803	$ 1,785
Net investment income	657	506
Investment gains (losses):
Other-than-temporary impairment losses	(14)	(6)
Other net investment gains	45	15
Total investment gains	31	9
Non-insurance warranty revenue	281	238
Operating revenues and other	985	1,043
Total	3,757	3,581
Expenses:
Insurance claims and policyholders' benefits	1,357	1,339
Amortization of deferred acquisition costs	342	296
Non-insurance warranty expense	260	216
Operating expenses and other	1,149	1,184
Interest	141	141
Total	3,249	3,176
Income before income tax	508	405
Income tax expense	(112)	(25)
Net income	396	380
Amounts attributable to noncontrolling interests	(2)	(87)
Net income attributable to Loews Corporation	$ 394	$ 293
Basic and diluted net income per share	$ 1.27	$ 0.89
Weighted average shares outstanding:
Shares of common stock	309,830	327,780
Dilutive potential shares of common stock	530	940
Total weighted average shares outstanding assuming dilution	310,360	328,720

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 396	$ 380
Other comprehensive income (loss), after tax Changes in:
Net unrealized gains (losses) on investments with other-than-temporary impairments	4	(9)
Net other unrealized gains (losses) on investments	526	(429)
Total unrealized gains (losses) on investments	530	(438)
Unrealized gains (losses) on cash flow hedges	(6)	10
Pension liability	8	10
Foreign currency translation	17	11
Other comprehensive income (loss)	549	(407)
Comprehensive income (loss)	945	(27)
Amounts attributable to noncontrolling interests	(61)	(43)
Total comprehensive income (loss) attributable to Loews Corporation	$ 884	$ (70)

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Common Stock Held in Treasury [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2017	$ 24,566	$ 3	$ 3,151	$ 16,096	$ (26)	$ (20)	$ 5,362
Cumulative effect adjustments from changes in accounting standards at Dec. 31, 2017	(91)			(43)	(28)		(20)
Balance, as adjusted at Dec. 31, 2017	24,475	3	3,151	16,053	(54)	(20)	5,342
Net income	380			293			87
Other comprehensive income	(407)				(363)		(44)
Dividends paid ($0.0625 per share)	(98)			(20)
Dividends paid							(78)
Purchases of Loews treasury stock	(497)					(497)
Stock-based compensation			(7)				7
Other	(5)		(2)	(5)			2
Ending Balance at Mar. 31, 2018	23,848	3	3,142	16,321	(417)	(517)	5,316
Beginning Balance at Dec. 31, 2018	21,386	3	3,627	15,773	(880)	(5)	2,868
Net income	396			394			2
Other comprehensive income	549				490		59
Dividends paid ($0.0625 per share)	(87)			(19)
Dividends paid							(68)
Purchases of Loews treasury stock	(322)					(322)
Purchases of subsidiary stock from non- controlling interests	(14)						(14)
Stock-based compensation	1		(19)				20
Other	(7)		(1)	(4)			(2)
Ending Balance at Mar. 31, 2019	$ 21,902	$ 3	$ 3,607	$ 16,144	$ (390)	$ (327)	$ 2,865

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Activities:
Net income	$ 396	$ 380
Adjustments to reconcile net income to net cash provided (used) by operating activities, net	369	185
Changes in operating assets and liabilities, net:
Receivables	15	(147)
Deferred acquisition costs	(29)	(29)
Insurance reserves	57	311
Other assets	(143)	(56)
Other liabilities	(104)	(215)
Trading securities	(480)	84
Net cash flow provided by operating activities	81	513
Investing Activities:
Purchases of fixed maturities	(2,447)	(2,690)
Proceeds from sales of fixed maturities	2,259	2,576
Proceeds from maturities of fixed maturities	576	531
Purchases of limited partnership investments	(114)	(63)
Proceeds from sales of limited partnership investments	337	69
Purchases of property, plant and equipment	(223)	(230)
Change in short term investments	(27)	(25)
Other, net	(61)	(112)
Net cash flow provided by investing activities	300	56
Financing Activities:
Dividends paid	(19)	(20)
Dividends paid to noncontrolling interests	(68)	(78)
Purchases of Loews treasury stock	(317)	(497)
Purchases of subsidiary stock from noncontrolling interests	(14)
Principal payments on debt	(210)	(303)
Issuance of debt	192	233
Other, net	(13)	74
Net cash flow used by financing activities	(449)	(591)
Effect of foreign exchange rate on cash	2	1
Net change in cash	(66)	(21)
Cash, beginning of period	405	472
Cash, end of period	$ 339	$ 451

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation Loews Corporation is a holding company. Its subsidiaries are engaged in the following lines of business: commercial property and casualty insurance (CNA Financial Corporation (“CNA”), an 89% owned subsidiary); the operation of offshore oil and gas drilling rigs (Diamond Offshore Drilling, Inc. (“Diamond Offshore”), a 53% owned subsidiary); transportation and storage of natural gas and natural gas liquids (Boardwalk Pipeline Partners, LP (“Boardwalk Pipeline”), a wholly owned subsidiary); the operation of a chain of hotels (Loews Hotels Holding Corporation (“Loews Hotels & Co”), a wholly owned subsidiary); and the manufacture of rigid plastic packaging solutions (Consolidated Container Company LLC (“Consolidated Container”), a 99% owned subsidiary). Unless the context otherwise requires, the terms “Company,” “Loews” and “Registrant” as used herein mean Loews Corporation excluding its subsidiaries and the term “Net income attributable to Loews Corporation” as used herein means Net income attributable to Loews Corporation shareholders. In the opinion of management, the accompanying unaudited Consolidated Condensed Financial Statements reflect all adjustments (consisting of normal recurring accruals) necessary to present fairly the Company’s financial position as of March 31, 2019 and December 31, 2018 and results of operations, comprehensive income and changes in shareholders’ equity and cash flows for the three months ended March 31, 2019 and 2018. Net income for the first quarter of each of the years is not necessarily indicative of net income for that entire year. These Consolidated Condensed Financial Statements should be read in conjunction with the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K The Company presents basic and diluted net income per share on the Consolidated Condensed Statements of Income. Basic net income per share excludes dilution and is computed by dividing net income attributable to common stock by the weighted average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. There were no shares attributable to employee stock-based compensation awards excluded from the diluted weighted average shares outstanding amounts for the three months ended March 31, 2019 and 2018 because the effect would have been antidilutive. Accounting changes 2016-02, 2016-02”). For leases where the Company is a lessee we have elected to account for lease and non-lease non-lease At adoption, the cumulative effect adjustment increased Other assets and Other liabilities by $642 million reflecting operating lease right of use assets, lease liabilities and the derecognition of deferred rent related primarily to lease agreements for office space and machinery and equipment. Subsequent to the adoption of ASU 2016-02, Recently issued ASUs 2016-13, available-for-sale available-for-sale In August of 2018, the FASB issued ASU 2018-12, This guidance is effective for interim and annual periods beginning after December 15, 2020, and requires restatement of the prior periods presented. Early adoption is permitted. The Company is currently evaluating the method and timing of adoption and the effect the updated guidance will have on its consolidated financial statements. The annual updating of cash flow assumptions is expected to increase income statement volatility. The quarterly change in the discount rate is expected to increase volatility in the Company’s Shareholders’ equity, but that will be somewhat mitigated because Shadow Adjustments are eliminated under the new guidance. See Note 2 for further information on Shadow Adjustments. While the requirements of the new guidance represent a material change from existing accounting guidance, the underlying economics of CNA’s business and related cash flows will be unchanged.

Investments

Investments	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	2. Investments Net investment income is as follows: Three Months Ended March 31 2019 2018 (In millions) Fixed maturity securities $ 455 $ 446 Limited partnership investments 81 48 Short term investments 15 9 Equity securities 30 10 Income (loss) from trading portfolio (a) 81 (3 ) Other 14 11 Total investment income 676 521 Investment expenses (19 ) (15 ) Net investment income $ 657 $ 506 (a) Net unrealized gains (losses) related to changes in fair value on securities still held were $44 and $(25) for the three months ended March 31, 2019 and 2018. Investment gains (losses) are as follows: Three Months Ended March 31 2019 2018 (In millions) Fixed maturity securities $ (6 ) $ 18 Equity securities 42 (15 ) Derivative instruments (5 ) 5 Short term investments and other 1 Investment gains (a) $ 31 $ 9 (a) Gross investment gains on available-for-sale available-for-sale non-redeemable The components of other-than-temporary impairment (“OTTI”) losses recognized in earnings by asset type are as follows: Three Months Ended March 31 2019 2018 (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 6 $ 5 Asset-backed 8 1 Net OTTI losses recognized in earnings $ 14 $ 6 The amortized cost and fair values of fixed maturity securities are as follows: March 31, 2019 Cost or Gross Gross Estimated Unrealized (In millions) Fixed maturity securities: Corporate and other bonds $ 19,296 $ 1,269 $ 99 $ 20,466 States, municipalities and political subdivisions 9,279 1,299 10,578 Asset-backed: Residential mortgage-backed 4,760 92 20 4,832 $ (22 ) Commercial mortgage-backed 2,026 53 7 2,072 Other asset-backed 1,877 25 12 1,890 (3 ) Total asset-backed 8,663 170 39 8,794 (25 ) U.S. Treasury and obligations of government- sponsored enterprises 162 3 1 164 Foreign government 502 12 1 513 Redeemable preferred stock 10 10 Fixed maturities available-for-sale 37,912 2,753 140 40,525 (25 ) Fixed maturities trading 73 4 77 Total fixed maturity securities $ 37,985 $ 2,757 $ 140 $ 40,602 $ (25 ) December 31, 2018 Fixed maturity securities: Corporate and other bonds $ 18,764 $ 791 $ 395 $ 19,160 States, municipalities and political subdivisions 9,681 1,076 9 10,748 Asset-backed: Residential mortgage-backed 4,815 68 57 4,826 $ (20 ) Commercial mortgage-backed 2,200 28 32 2,196 Other asset-backed 1,975 11 24 1,962 Total asset-backed 8,990 107 113 8,984 (20 ) U.S. Treasury and obligations of government-sponsored enterprises 156 3 159 Foreign government 480 5 4 481 Redeemable preferred stock 10 10 Fixed maturities available-for-sale 38,081 1,982 521 39,542 (20 ) Fixed maturities trading 153 4 157 Total fixed maturities $ 38,234 $ 1,986 $ 521 $ 39,699 $ (20 ) The net unrealized gains on available-for-sale The available-for-sale Less than 12 Months 12 Months or Longer Total March 31, 2019 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities: Corporate and other bonds $ 1,656 $ 39 $ 1,743 $ 60 $ 3,399 $ 99 States, municipalities and political subdivisions 14 3 17 Asset-backed: Residential mortgage-backed 94 1,494 20 1,588 20 Commercial mortgage-backed 184 2 236 5 420 7 Other asset-backed 450 10 95 2 545 12 Total asset-backed 728 12 1,825 27 2,553 39 U.S. Treasury and obligations of government-sponsored enterprises 48 1 14 62 1 Foreign government 32 1 27 59 1 Total fixed maturity securities $ 2,478 $ 53 $ 3,612 $ 87 $ 6,090 $ 140 December 31, 2018 Fixed maturity securities: Corporate and other bonds $ 8,543 $ 340 $ 825 $ 55 $ 9,368 $ 395 States, municipalities and political subdivisions 517 8 5 1 522 9 Asset-backed: Residential mortgage-backed 1,932 23 1,119 34 3,051 57 Commercial mortgage-backed 728 10 397 22 1,125 32 Other asset-backed 834 21 125 3 959 24 Total asset-backed 3,494 54 1,641 59 5,135 113 U.S. Treasury and obligations of government-sponsored enterprises 21 19 40 Foreign government 114 2 124 2 238 4 Total fixed maturity securities $ 12,689 $ 404 $ 2,614 $ 117 $ 15,303 $ 521 Based on current facts and circumstances, the Company believes the unrealized losses presented in the March 31, 2019 securities in a gross unrealized loss position table above are not indicative of the ultimate collectibility of the current amortized cost of the securities, but rather are attributable to changes in interest rates, credit spreads and other factors. The Company has no current intent to sell securities with unrealized losses, nor is it more likely than not that it will be required to sell prior to recovery of amortized cost; accordingly, the Company has determined that there are no additional OTTI losses to be recorded as of March 31, 2019. The following table presents the activity related to the pretax credit loss component reflected in Retained earnings on fixed maturity securities still held as of March 31, 2019 and 2018 for which a portion of an OTTI loss was recognized in OCI. Three Months Ended March 31 2019 (In millions) Beginning balance of credit losses on fixed maturity securities $ 18 $ 27 Reductions for securities sold during the period (1 ) (2 ) Ending balance of credit losses on fixed maturity securities $ 17 $ 25 Contractual Maturity The following table presents available-for-sale March 31, 2019 December 31, 2018 Cost or Estimated Cost or Estimated Amortized Fair Amortized Fair Cost Value Cost Value (In millions) Due in one year or less $ 1,144 $ 1,155 $ 1,350 $ 1,359 Due after one year through five years 7,718 7,992 7,979 8,139 Due after five years through ten years 16,874 17,374 16,859 16,870 Due after ten years 12,176 14,004 11,893 13,174 Total $ 37,912 $ 40,525 $ 38,081 $ 39,542 Actual maturities may differ from contractual maturities because certain securities may be called or prepaid. Securities not due at a single date are allocated based on weighted average life. Derivative Financial Instruments A summary of the aggregate contractual or notional amounts and gross estimated fair values related to derivative financial instruments follows. The contractual or notional amounts for derivatives are used to calculate the exchange of contractual payments under the agreements and may not be representative of the potential for gain or loss on these instruments. Gross estimated fair values of derivative positions are currently presented in Equity securities, Receivables and Payable to brokers on the Consolidated Condensed Balance Sheets. March 31, 2019 December 31, 2018 Contractual/ Contractual/ Notional Estimated Fair Value Notional Estimated Fair Value Amount Asset (Liability) Amount Asset (Liability) (In millions) With hedge designation: Interest rate swaps $ 540 $ 3 $ (1 ) $ 500 $ 11 Without hedge designation: Equity markets: Options – purchased 353 7 213 18 127 (6 ) 239 $ (17 ) Futures – short 50 Commodity futures – long 12 32 Embedded derivative on funds withheld liability 174 (2 ) 172 4

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value	3. Fair Value Fair value is the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following fair value hierarchy is used in selecting inputs, with the highest priority given to Level 1, as these are the most transparent or reliable: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. • Level 3 – Valuations derived from valuation techniques in which one or more significant inputs are not observable. Prices may fall within Level 1, 2 or 3 depending upon the methodology and inputs used to estimate fair value for each specific security. In general, the Company seeks to price securities using third party pricing services. Securities not priced by pricing services are submitted to independent brokers for valuation and, if those are not available, internally developed pricing models are used to value assets using a methodology and inputs the Company believes market participants would use to value the assets. Prices obtained from third-party pricing services or brokers are not adjusted by the Company. The Company performs control procedures over information obtained from pricing services and brokers to ensure prices received represent a reasonable estimate of fair value and to confirm representations regarding whether inputs are observable or unobservable. Procedures may include: (i) the review of pricing service methodologies or broker pricing qualifications, (ii) back-testing, where past fair value estimates are compared to actual transactions executed in the market on similar dates, (iii) exception reporting, where period-over-period changes in price are reviewed and challenged with the pricing service or broker based on exception criteria, (iv) detailed analysis, where the Company performs an independent analysis of the inputs and assumptions used to price individual securities and (v) pricing validation, where prices received are compared to prices independently estimated by the Company. Assets and liabilities measured at fair value on a recurring basis are summarized in the following tables. Corporate bonds and other includes obligations of the U.S. Treasury, government-sponsored enterprises, foreign governments and redeemable preferred stock. March 31, 2019 Level 1 Level 2 Level 3 Total (In millions) Fixed maturity securities: Corporate bonds and other $ 203 $ 20,697 $ 253 $ 21,153 States, municipalities and political subdivisions 10,578 10,578 Asset-backed 8,610 184 8,794 Fixed maturities available-for-sale 203 39,885 437 40,525 Fixed maturities trading 72 5 77 Total fixed maturities $ 203 $ 39,957 $ 442 $ 40,602 Equity securities $ 697 $ 608 $ 21 $ 1,326 Short term and other 3,199 1,204 4,403 Receivables 3 3 Payable to brokers (14 ) (14 ) December 31, 2018 Fixed maturity securities: Corporate bonds and other $ 196 $ 19,392 $ 222 $ 19,810 States, municipalities and political subdivisions 10,748 10,748 Asset-backed 8,787 197 8,984 Fixed maturities available-for-sale 196 38,927 419 39,542 Fixed maturities trading 151 6 157 Total fixed maturities $ 196 $ 39,078 $ 425 $ 39,699 Equity securities $ 704 $ 570 $ 19 $ 1,293 Short term and other 2,647 1,111 3,758 Receivables 11 11 Payable to brokers (23 ) (23 ) The following tables present reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018: Unrealized Gains Unrealized (Losses) Gains Recognized in (Losses) Other Recognized in Comprehensive Net Realized Investment Net Income Income (Loss) Gains (Losses) and Net (Loss) on Level on Level 3 Change in Unrealized 3 Assets and Assets and Investment Gains (Losses) Transfers Transfers Liabilities Liabilities Balance, Included in Included in into out of Balance, Held at Held at 2019 January 1 Net Income OCI Purchases Sales Settlements Level 3 Level 3 March 31 March 31 March 31 (In millions) Fixed maturity securities: Corporate bonds and other $ 222 $ 8 $ 56 $ (2 ) $ (31 ) $ 253 $ 7 Asset-backed 197 3 20 (4 ) $ 5 (37 ) 184 3 Fixed maturities available-for-sale 419 $ - 11 76 $ - (6 ) 5 (68 ) 437 $ - 10 Fixed maturities trading 6 (1 ) 5 (1 ) Total fixed maturities $ 425 $ (1 ) $ 11 $ 76 $ - $ (6 ) $ 5 $ (68 ) $ 442 $ (1 ) $ 10 Equity securities $ 19 $ 2 $ 21 $ 2 Unrealized Gains (Losses) Recognized in Net Realized Investment Net Income Gains (Losses) and Net (Loss) on Level Change in Unrealized 3 Assets and Investment Gains (Losses) Transfers Transfers Liabilities Balance, Included in Included in into out of Balance, Held at 2018 January 1 Net Income OCI Purchases Sales Settlements Level 3 Level 3 March 31 March 31 (In millions) Fixed maturity securities: Corporate bonds and other $ 98 $ (1 ) $ (2 ) $ 5 $ 100 States, municipalities and political subdivisions 1 1 Asset-backed 335 7 $ (5 ) $ 30 $ (72 ) (6 ) $ (10 ) 279 Fixed maturities available-for-sale 434 6 (5 ) 30 (72 ) (8 ) 5 (10 ) 380 $ - Fixed maturities trading 4 3 7 3 Total fixed maturities $ 438 $ 9 $ (5 ) $ 30 $ (72 ) $ (8 ) $ 5 $ (10 ) $ 387 $ 3 Equity securities $ 22 $ (2 ) $ 20 $ (2 ) Net investment gains and losses are reported in Net income as follows: Major Category of Assets and Liabilities Consolidated Condensed Statements of Income Line Items Fixed maturity securities available-for-sale Investment gains (losses) Fixed maturity securities trading Net investment income Equity securities Investment gains (losses) and Net investment income Other invested assets Investment gains (losses) and Net investment income Derivative financial instruments held in a trading portfolio Net investment income Derivative financial instruments, other Investment gains (losses) and Operating revenues and other Life settlement contracts Operating revenues and other Securities may be transferred in or out of levels within the fair value hierarchy based on the availability of observable market information and quoted prices used to determine the fair value of the security. The availability of observable market information and quoted prices varies based on market conditions and trading volume. Valuation Methodologies and Inputs The following section describes the valuation methodologies and relevant inputs used to measure different financial instruments at fair value, including an indication of the level in the fair value hierarchy in which the instruments are generally classified. Fixed Maturity Securities Level 1 securities include highly liquid and exchange traded bonds and redeemable preferred stock, valued using quoted market prices. Level 2 securities include most other fixed maturity securities as the significant inputs are observable in the marketplace. All classes of Level 2 fixed maturity securities are valued using a methodology based on information generated by market transactions involving identical or comparable assets, a discounted cash flow methodology or a combination of both when necessary. Common inputs for all classes of fixed maturity securities include prices from recently executed transactions of similar securities, marketplace quotes, benchmark yields, spreads off benchmark yields, interest rates and U.S. Treasury or swap curves. Specifically for asset-backed securities, key inputs include prepayment and default projections based on past performance of the underlying collateral and current market data. Fixed maturity securities are primarily assigned to Level 3 in cases where broker/dealer quotes are significant inputs to the valuation, and there is a lack of transparency as to whether these quotes are based on information that is observable in the marketplace. Level 3 securities also include private placement debt securities whose fair value is determined using internal models with inputs that are not market observable. Equity Securities Level 1 securities include publicly traded securities valued using quoted market prices. Level 2 securities are primarily valued using pricing for similar securities, recently executed transactions and other pricing models utilizing market observable inputs. Level 3 securities are primarily priced using broker/dealer quotes and internal models with inputs that are not market observable. Derivative Financial Instruments Exchange traded derivatives are valued using quoted market prices and are classified within Level 1 of the fair value hierarchy. Level 2 derivatives primarily include currency forwards valued using observable market forward rates. Over-the-counter Short Term and Other Invested Assets Securities that are actively traded or have quoted prices are classified as Level 1. These securities include money market funds, treasury bills and exchange traded open-end Significant Unobservable Inputs The following tables present quantitative information about the significant unobservable inputs utilized by the Company in the fair value measurement of Level 3 assets. Valuations for assets and liabilities not presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of unobservable inputs from these broker quotes is neither provided nor reasonably available to the Company. The weighted average rate is calculated based on fair value. Range Estimated Valuation Unobservable (Weighted March 31, 2019 Fair Value Techniques Inputs Average) (In millions) Discounted Fixed maturity securities $ 293 cash flow Credit spread 1% – 5% (3%) December 31, 2018 Discounted Fixed maturity securities $ 228 cash flow Credit spread 1% – 12% (3%) For fixed maturity securities, an increase to the credit spread assumptions would result in a lower fair value measurement. Financial Assets and Liabilities Not Measured at Fair Value The carrying amount, estimated fair value and the level of the fair value hierarchy of the Company’s financial assets and liabilities which are not measured at fair value on the Consolidated Condensed Balance Sheets are presented in the following tables. The carrying amounts and estimated fair values of short term debt and long term debt exclude capital lease obligations. The carrying amounts reported on the Consolidated Condensed Balance Sheets for cash and short term investments not carried at fair value and certain other assets and liabilities approximate fair value due to the short term nature of these items. Carrying Estimated Fair Value March 31, 2019 Amount Level 1 Level 2 Level 3 Total (In millions) Assets: Other invested assets, primarily mortgage loans $ 863 $ 868 $ 868 Liabilities: Short term debt 131 $ 54 75 129 Long term debt 11,216 10,469 531 11,000 December 31, 2018 Assets: Other invested assets, primarily mortgage loans $ 839 $ 827 $ 827 Liabilities: Short term debt 15 $ 14 14 Long term debt 11,345 10,111 653 10,764 The fair values of mortgage loans, included in Other invested assets, were based on the present value of the expected future cash flows discounted at the current interest rate for similar financial instruments, adjusted for specific loan risk.

Claim and Claim Adjustment Expe

Claim and Claim Adjustment Expense Reserves	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Claim and Claim Adjustment Expense Reserves	4. Claim and Claim Adjustment Expense Reserve s CNA’s property and casualty insurance claim and claim adjustment expense reserves represent the estimated amounts necessary to resolve all outstanding claims, including incurred but not reported (“IBNR”) claims as of the reporting date. CNA’s reserve projections are based primarily on detailed analysis of the facts in each case, CNA’s experience with similar cases and various historical development patterns. Consideration is given to historical patterns such as claim reserving trends and settlement practices, loss payments, pending levels of unpaid claims and product mix, as well as court decisions and economic conditions, including inflation and public attitudes. All of these factors can affect the estimation of claim and claim adjustment expense reserves. Establishing claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves for catastrophic events that have occurred, is an estimation process. Many factors can ultimately affect the final settlement of a claim and, therefore, the necessary reserve. Changes in the law, results of litigation, medical costs, the cost of repair materials and labor rates can affect ultimate claim costs. In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of the claim, the more variable the ultimate settlement amount can be. Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably estimable than long-tail claims, such as workers’ compensation, general liability and professional liability claims. Adjustments to prior year reserve estimates, if necessary, are reflected in the results of operations in the period that the need for such adjustments is determined. There can be no assurance that CNA’s ultimate cost for insurance losses will not exceed current estimates. Catastrophes are an inherent risk of the property and casualty insurance business and have contributed to material period-to-period Liability for Unpaid Claim and Claim Adjustment Expenses The following table presents a reconciliation between beginning and ending claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves of Other Insurance Operations. Three Months Ended March 31 2019 2018 (In millions) Reserves, beginning of year: Gross $ 21,984 $ 22,004 Ceded 4,019 3,934 Net reserves, beginning of year 17,965 18,070 Net incurred claim and claim adjustment expenses: Provision for insured events of current year 1,309 1,246 Increase (decrease) in provision for insured events of prior years 8 (34 ) Amortization of discount 50 47 Total net incurred (a) 1,367 1,259 Net payments attributable to: Current year events (100 ) (91 ) Prior year events (1,309 ) (1,219 ) Total net payments (1,409 ) (1,310 ) Foreign currency translation adjustment and other 13 (9 ) Net reserves, end of period 17,936 18,010 Ceded reserves, end of period 3,900 4,057 Gross reserves, end of period $ 21,836 $ 22,067 (a) Total net incurred above does not agree to Insurance claims and policyholders’ benefits as reflected on the Consolidated Condensed Statements of Income due to amounts related to retroactive reinsurance deferred gain accounting, uncollectible reinsurance and loss deductible receivables and benefit expenses related to future policy benefits, which are not reflected in the table above. Net Prior Year Development Changes in estimates of claim and claim adjustment expense reserves net of reinsurance, for prior years are defined as net prior year loss reserve development. These changes can be favorable or unfavorable. Favorable net prior year development of $14 million and $39 million was recorded for CNA’s commercial property and casualty operations (“Property & Casualty Operations”) for the three months ended March 31, 2019 and 2018. The following table and discussion present details of the net prior year claim and claim adjustment expense reserve development in CNA’s Property & Casualty Operations: Three Months Ended March 31 2019 2018 (In millions) Medical professional liability $ 15 $ 20 Other professional liability and management liability (12 ) (34 ) Surety (25 ) (15 ) Commercial auto (5 ) (1 ) General liability (20 ) (8 ) Workers’ compensation 2 (6 ) Property and other 31 5 Total pretax (favorable) unfavorable development $ (14 ) $ (39 ) 2019 Unfavorable development in medical professional liability was primarily due to higher than expected severity in accident year 2013 in CNA’s allied healthcare business. Favorable development in other professional liability and management liability was primarily due to lower than expected claim frequency and favorable outcomes on individual claims in accident years 2017 and prior related to financial institutions. This was partially offset by unfavorable development in management liability in accident year 2014 due to large claim activity. Favorable development in surety was due to lower than expected frequency for accident years 2016 and prior. Favorable development in general liability was primarily due to lower than expected frequency on latent construction defect claims in multiple accident years. Unfavorable development for property and other coverages was primarily due to higher than expected frequency and large loss activity in accident year 2018 in CNA’s marine business and higher than expected claims in Hardy on 2018 accident year catastrophes in property. 2018 Unfavorable development in medical professional liability was primarily due to higher than expected severity in accident years 2014 and 2017 in CNA’s hospitals business. Favorable development in other professional liability and management liability was primarily due to lower than expected claim frequency in accident years 2013 through 2015 related to financial institutions. Favorable development in surety was due to lower than expected loss emergence for accident years 2015 and prior. Favorable development in general liability was primarily due to lower than expected frequency and severity in accident years 2015 and prior for the middle market construction business. Asbestos and Environmental Pollution (“A&EP”) Reserves In 2010, Continental Casualty Company (“CCC”) together with several of CNA’s insurance subsidiaries completed a transaction with National Indemnity Company (“NICO”), a subsidiary of Berkshire Hathaway Inc., under which substantially all of CNA’s legacy A&EP liabilities were ceded to NICO through a loss portfolio transfer (“loss portfolio transfer” or “LPT”). At the effective date of the transaction, CNA ceded approximately $1.6 billion of net A&EP claim and allocated claim adjustment expense reserves to NICO under a retroactive reinsurance agreement with an aggregate limit of $4.0 billion. The $1.6 billion of claim and allocated claim adjustment expense reserves ceded to NICO was net of $1.2 billion of ceded claim and allocated claim adjustment expense reserves under existing third party reinsurance contracts. The NICO LPT aggregate reinsurance limit also covers credit risk on the existing third party reinsurance related to these liabilities. CNA paid NICO a reinsurance premium of $2.0 billion and transferred to NICO billed third party reinsurance receivables related to A&EP claims with a net book value of $215 million, resulting in total consideration of $2.2 billion. In years subsequent to the effective date of the LPT, CNA recognized adverse prior year development on its A&EP reserves resulting in additional amounts ceded under the LPT. As a result, the cumulative amounts ceded under the LPT have exceeded the $2.2 billion consideration paid, resulting in the NICO LPT moving into a gain position, requiring retroactive reinsurance accounting. Under retroactive reinsurance accounting, this gain is deferred and only recognized in earnings in proportion to actual paid recoveries under the LPT. Over the life of the contract, there is no economic impact as long as any additional losses incurred are within the limit of the LPT. In a period in which CNA recognizes a change in the estimate of A&EP reserves that increases or decreases the amounts ceded under the LPT, the proportion of actual paid recoveries to total ceded losses is affected and the change in the deferred gain is recognized in earnings as if the revised estimate of ceded losses was available at the effective date of the LPT. The effect of the deferred retroactive reinsurance benefit is recorded in Insurance claims and policyholders’ benefits on the Consolidated Condensed Statements of Income. The following table presents the impact of the loss portfolio transfer on the Consolidated Condensed Statements of Income. Three Months Ended March 31 2019 2018 (In millions) Additional amounts ceded under LPT: Net A&EP adverse development before consideration of LPT $ 113 Provision for uncollectible third-party reinsurance on A&EP (16 ) Total additional amounts ceded under LPT $ - 97 Retroactive reinsurance benefit recognized (22 ) (57 ) Pretax impact of deferred retroactive reinsurance $ (22 ) $ 40 CNA intends to complete its annual A&EP reserve review in the fourth quarter of 2019 and maintain this timing for all future annual A&EP reserve reviews. CNA completed A&EP reserve reviews in both the first and fourth quarters of 2018. Based upon CNA’s 2018 first quarter A&EP reserve review, net unfavorable prior year development of $113 million was recognized before consideration of cessions to the LPT for the three months ended March 31, 2018. The 2018 unfavorable development was driven by higher than anticipated defense costs on direct asbestos and environmental accounts and paid losses on assumed reinsurance exposures. Additionally, in 2018, CNA released a portion of its provision for uncollectible third party reinsurance. As of March 31, 2019 and December 31, 2018, the cumulative amounts ceded under the LPT were $3.1 billion. The unrecognized deferred retroactive reinsurance benefit was $352 million and $374 million as of March 31, 2019 and December 31, 2018 and is included within Other liabilities on the Consolidated Condensed Balance Sheets. NICO established a collateral trust account as security for its obligations to CNA. The fair value of the collateral trust account was $3.0 billion and $2.7 billion as of March 31, 2019 and December 31, 2018. In addition, Berkshire Hathaway Inc. guaranteed the payment obligations of NICO up to the aggregate reinsurance limit as well as certain of NICO’s performance obligations under the trust agreement. NICO is responsible for claims handling and billing and collection from third-party reinsurers related to the majority of CNA’s A&EP claims.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	5. Leases The Company’s lease agreements primarily cover office facilities and machinery and equipment and expire at various dates. The Company’s leases are predominantly operating leases, which are included in Other assets and Other liabilities on the Consolidated Condensed Balance Sheet. The Company’s lease agreements do not contain significant residual value guarantees, restrictions or covenants. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payments is the interest rate implicit in the lease, or when that is not readily determinable, the Company utilizes its incremental borrowing rate. The Company’s operating lease right of use asset was $629 million and the Company’s operating lease liability was $705 million at March 31, 2019. Operating lease cost was $30 million, variable lease cost was $4 million and short term lease cost was $2 million for the three months ended March 31, 2019. Cash paid for amounts included in operating lease liabilities was $29 million for the three months ended March 31, 2019. The table below presents the future minimum lease payments to be made under non-cancelable Year Ended December 31 (In millions) 2019 $ 75 2020 79 2021 79 2022 68 2023 57 Thereafter 344 Total $ 702 The table below presents the maturities of lease liabilities: Operating As of March 31, 2019 Leases (In millions) 2019 (a) $ 82 2020 108 2021 105 2022 95 2023 83 Thereafter 406 Total 879 Less: discount 174 Total lease liabilities $ 705 (a) For the nine-month period beginning April 1, 2019 The table below presents the weighted average remaining lease term for operating leases and weighted average discount rate used in calculating the operating lease asset and liability. As of March 31, 2019 Weighted average remaining lease term 8.4 Years Weighted average discount rate 4.9 %

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Shareholders' Equity	6. Shareholders’ Equity Accumulated other comprehensive income (loss) The tables below present the changes in AOCI by component for the three months ended March 31, 2018 and 2019: Total Accumulated OTTI Unrealized Foreign Other Gains Gains (Losses) Cash Flow Pension Currency Comprehensive (Losses) on Investments Hedges Liability Translation Income (Loss) (In millions) Balance, January 1, 2018, as reported $ 22 $ 673 $ - $ (633 ) $ (88 ) $ (26 ) Cumulative effect adjustments from changes in accounting standards, after tax of $0, $8, $0, $0 and $0 4 98 (130 ) (28 ) Balance, January 1, 2018, as adjusted 26 771 - (763 ) (88 ) (54 ) Other comprehensive income (loss) before reclassifications, after tax of $2, $105, $(2), $0 and $0 (10 ) (414 ) 8 11 (405 ) Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $4, $0, $(3) and $0 1 (15 ) 2 10 (2 ) Other comprehensive income (loss) (9 ) (429 ) 10 10 11 (407 ) Amounts attributable to noncontrolling interests 1 44 (1 ) 44 Balance, March 31, 2018 $ 18 $ 386 $ 10 $ (753 ) $ (78 ) $ (417 ) Balance, January 1, 2019 $ 14 $ 57 $ 5 $ (793 ) $ (163 ) $ (880 ) Other comprehensive income (loss) before reclassifications, after tax of $(1), $(140), $2, $0 and $0 4 521 (6 ) (1 ) 17 535 Reclassification of losses from accumulated other comprehensive income, after tax of $0, $(1), $0, $(2) and $0 5 9 14 Other comprehensive income (loss) 4 526 (6 ) 8 17 549 Amounts attributable to noncontrolling interests (56 ) (1 ) (2 ) (59 ) Balance, March 31, 2019 $ 18 $ 527 $ (1 ) $ (786 ) $ (148 ) $ (390 ) Amounts reclassified from AOCI shown above are reported in Net income as follows: Major Category of AOCI Affected Line Item OTTI gains (losses) Investment gains (losses) Unrealized gains (losses) on investments Investment gains (losses) Cash flow hedges Operating revenues and other and Operating expenses and other Pension liability Operating expenses and other Treasury Stock The Company repurchased 6.8 million and 9.9 million shares of Loews common stock at an aggregate cost of $322 and $497 million during the three months ended March 31, 2019 and 2018.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	7. Revenue from Contracts with Customers Disaggregation of revenues Non-insurance Three Months Ended March 31 2019 2018 (In millions) Non-insurance $ 281 $ 238 Contract drilling - Diamond Offshore 234 296 Transportation and storage of natural gas and NGLs and other services - Boardwalk Pipeline 339 331 Lodging and related services - Loews Hotels & Co 180 183 Rigid plastic packaging and recycled resin – Corporate 214 213 Total revenues from contracts with customers 967 1,023 Other revenues 18 20 Operating revenues and other $ 985 $ 1,043 Receivables from contracts with customers Deferred revenue non-insurance Performance obligations non-insurance

Benefit Plans

Benefit Plans	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Benefit Plans	8. Benefit Plans The Company and its subsidiaries have several non-contributory defined benefit plans and postretirement benefit plans covering eligible employees and retirees. The following table presents the components of net periodic (benefit) cost for the plans: Pension Benefits Other Three Months Ended March 31 2019 2018 2019 2018 (In millions) Service cost $ 2 $ 2 Interest cost 29 27 $ 1 $ 1 Expected return on plan assets (40 ) (45 ) (1) (1 ) Amortization of unrecognized net loss 11 11 Amortization of unrecognized prior service benefit (1 ) Settlement charge 4 Net periodic (benefit) cost $ 2 $ (1 ) $ - $ (1 )

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	9. Legal Proceedings Boardwalk Pipeline On May 25, 2018, plaintiffs Tsemach Mishal and Paul Berger (on behalf of themselves and the purported class, “Plaintiffs”) initiated a purported class action in the Court of Chancery of the State of Delaware (the “Court”) against the following defendants: Boardwalk Pipeline, Boardwalk GP, LP (“General Partner”), Boardwalk GP, LLC and Boardwalk Pipelines Holding Corp. (“BPHC”) (together, “Defendants”), regarding the potential exercise by the General Partner of its right to purchase all of the issued and outstanding common units representing limited partnership interests in Boardwalk Pipeline not already owned by the General Partner or its affiliates. On June 25, 2018, Plaintiffs and Defendants entered into a Stipulation and Agreement of Compromise and Settlement, subject to the approval of the Court (the “Proposed Settlement”). Under the terms of the Proposed Settlement, the lawsuit would be dismissed, and related claims against the Defendants would be released by the Plaintiffs, if BPHC, the sole member of the General Partner, elected to cause the General Partner to exercise its right to purchase the issued and outstanding common units of Boardwalk Pipeline as determined by Boardwalk Pipeline’s Third Amended and Restated Agreement of Limited Partnership, as amended (“Limited Partnership Agreement”), within a period specified by the Proposed Settlement. On June 29, 2018, the General Partner elected to exercise its right to purchase all of the issued and outstanding common units representing limited partnership interests in Boardwalk Pipeline not already owned by the General Partner or its affiliates pursuant to the Limited Partnership Agreement within the period specified by the Proposed Settlement. The transaction was completed on July 18, 2018. On September 28, 2018, the Court denied approval of the Proposed Settlement. On February 11, 2019, a substitute verified class action complaint was filed in this proceeding, among other things, naming the Company as a defendant. The Court has established a briefing schedule for a motion to dismiss and a hearing has been scheduled in July of 2019. Other Litigation The Company and its subsidiaries are from time to time parties to other litigation arising in the ordinary course of business. While it is difficult to predict the outcome or effect of any such litigation, management does not believe that the outcome of any such pending litigation will materially affect the Company’s results of operations or equity.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies CNA Guarantees In the course of selling business entities and assets to third parties, CNA agreed to guarantee the performance of certain obligations of previously owned subsidiaries and to indemnify purchasers for losses arising out of breaches of representations and warranties with respect to the business entities or assets sold, including, in certain cases, losses arising from undisclosed liabilities or certain named litigation. Such guarantee and indemnification agreements in effect for sales of business entities, assets and third party loans may include provisions that survive indefinitely. As of March 31, 2019, the aggregate amount related to quantifiable guarantees was $375 million and the aggregate amount related to quantifiable indemnification agreements was $252 million. In certain cases, should CNA be required to make payments under any such guarantee, it would have the right to seek reimbursement from an affiliate of a previously owned subsidiary. In addition, CNA has agreed to provide indemnification to third party purchasers for certain losses associated with sold business entities or assets that are not limited by a contractual monetary amount. As of March 31, 2019, CNA had outstanding unlimited indemnifications in connection with the sales of certain of its business entities or assets that included tax liabilities arising prior to a purchaser’s ownership of an entity or asset, defects in title at the time of sale, employee claims arising prior to closing and in some cases losses arising from certain litigation and undisclosed liabilities. Certain provisions of the indemnification agreements survive indefinitely while others survive until the applicable statutes of limitation expire, or until the agreed upon contract terms expire. CNA also provided guarantees, if the primary obligor fails to perform, to holders of structured settlement annuities provided by a previously owned subsidiary. As of March 31, 2019, the potential amount of future payments CNA could be required to pay under these guarantees was approximately $1.7 billion, which will be paid over the lifetime of the annuitants. CNA does not believe any payment is likely under these guarantees, as CNA is the beneficiary of a trust that must be maintained at a level that approximates the discounted reserves for these annuities.

Segments

Segments	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segments	11. Segments The Company has five reportable segments comprised of four individual operating subsidiaries, CNA, Diamond Offshore, Boardwalk Pipeline and Loews Hotels & Co; and the Corporate segment, which includes operations of Consolidated Container. Each of the operating subsidiaries is headed by a chief executive officer who is responsible for the operation of its business and has the duties and authority commensurate with that position. For additional disclosures regarding the composition of the Company’s segments, see Note 20 of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K The following tables present the reportable segments of the Company and their contribution to the Consolidated Condensed Statements of Income. Amounts presented will not necessarily be the same as those in the individual financial statements of the Company’s subsidiaries due to adjustments for purchase accounting, income taxes and noncontrolling interests. Statements of Income by segment are presented in the following tables. CNA Diamond Boardwalk Loews Three Months Ended March 31, 2019 Financial Offshore Pipeline Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 1,803 $ 1,803 Net investment income 571 $ 2 $ 84 657 Investment gains 31 31 Non-insurance 281 281 Operating revenues and other 9 234 $ 346 $ 180 216 985 Total 2,695 236 346 180 300 3,757 Expenses: Insurance claims and policyholders’ benefits 1,357 1,357 Amortization of deferred acquisition costs 342 342 Non-insurance 260 260 Operating expenses and other 284 283 195 156 231 1,149 Interest 34 30 45 5 27 141 Total 2,277 313 240 161 258 3,249 Income (loss) before income tax 418 (77 ) 106 19 42 508 Income tax (expense) benefit (77 ) 6 (27 ) (6 ) (8 ) (112 ) Net income (loss) 341 (71 ) 79 13 34 396 Amounts attributable to noncontrolling interests (36 ) 34 (2 ) Net income (loss) attributable to Loews Corporation $ 305 $ (37 ) $ 79 $ 13 $ 34 $ 394 CNA Diamond Boardwalk Loews Three Months Ended March 31, 2018 Financial Offshore Pipeline Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 1,785 $ 1,785 Net investment income 490 $ 2 $ 14 506 Investment gains 9 9 Non-insurance 238 238 Operating revenues and other 13 297 $ 337 $ 183 213 1,043 Total 2,535 299 337 183 227 3,581 Expenses: Insurance claims and policyholders’ benefits 1,339 1,339 Amortization of deferred acquisition costs 296 296 Non-insurance 216 216 Operating expenses and other 302 296 198 156 232 1,184 Interest 35 28 44 7 27 141 Total 2,188 324 242 163 259 3,176 Income (loss) before income tax 347 (25 ) 95 20 (32 ) 405 Income tax (expense) benefit (55 ) 44 (12 ) (7 ) 5 (25 ) Net income (loss) 292 19 83 13 (27 ) 380 Amounts attributable to noncontrolling interests (31 ) (9 ) (47 ) (87 ) Net income (loss) attributable to Loews Corporation $ 261 $ 10 $ 36 $ 13 $ (27 ) $ 293

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Net Investment Income	Net investment income is as follows: Three Months Ended March 31 2019 2018 (In millions) Fixed maturity securities $ 455 $ 446 Limited partnership investments 81 48 Short term investments 15 9 Equity securities 30 10 Income (loss) from trading portfolio (a) 81 (3 ) Other 14 11 Total investment income 676 521 Investment expenses (19 ) (15 ) Net investment income $ 657 $ 506
Summary of Investment Gains (Losses)	Investment gains (losses) are as follows: Three Months Ended March 31 2019 2018 (In millions) Fixed maturity securities $ (6 ) $ 18 Equity securities 42 (15 ) Derivative instruments (5 ) 5 Short term investments and other 1 Investment gains (a) $ 31 $ 9
Components of OTTI Losses Recognized in Earnings by Asset Type	The components of other-than-temporary impairment (“OTTI”) losses recognized in earnings by asset type are as follows: Three Months Ended March 31 2019 2018 (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 6 $ 5 Asset-backed 8 1 Net OTTI losses recognized in earnings $ 14 $ 6
Amortized Cost and Fair Values of Fixed Maturity and Equity Securities	The amortized cost and fair values of fixed maturity securities are as follows: March 31, 2019 Cost or Gross Gross Estimated Unrealized (In millions) Fixed maturity securities: Corporate and other bonds $ 19,296 $ 1,269 $ 99 $ 20,466 States, municipalities and political subdivisions 9,279 1,299 10,578 Asset-backed: Residential mortgage-backed 4,760 92 20 4,832 $ (22 ) Commercial mortgage-backed 2,026 53 7 2,072 Other asset-backed 1,877 25 12 1,890 (3 ) Total asset-backed 8,663 170 39 8,794 (25 ) U.S. Treasury and obligations of government- sponsored enterprises 162 3 1 164 Foreign government 502 12 1 513 Redeemable preferred stock 10 10 Fixed maturities available-for-sale 37,912 2,753 140 40,525 (25 ) Fixed maturities trading 73 4 77 Total fixed maturity securities $ 37,985 $ 2,757 $ 140 $ 40,602 $ (25 ) December 31, 2018 Fixed maturity securities: Corporate and other bonds $ 18,764 $ 791 $ 395 $ 19,160 States, municipalities and political subdivisions 9,681 1,076 9 10,748 Asset-backed: Residential mortgage-backed 4,815 68 57 4,826 $ (20 ) Commercial mortgage-backed 2,200 28 32 2,196 Other asset-backed 1,975 11 24 1,962 Total asset-backed 8,990 107 113 8,984 (20 ) U.S. Treasury and obligations of government-sponsored enterprises 156 3 159 Foreign government 480 5 4 481 Redeemable preferred stock 10 10 Fixed maturities available-for-sale 38,081 1,982 521 39,542 (20 ) Fixed maturities trading 153 4 157 Total fixed maturities $ 38,234 $ 1,986 $ 521 $ 39,699 $ (20 )
Securities Available-for-Sale in Gross Unrealized Loss Position	The available-for-sale Less than 12 Months 12 Months or Longer Total March 31, 2019 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities: Corporate and other bonds $ 1,656 $ 39 $ 1,743 $ 60 $ 3,399 $ 99 States, municipalities and political subdivisions 14 3 17 Asset-backed: Residential mortgage-backed 94 1,494 20 1,588 20 Commercial mortgage-backed 184 2 236 5 420 7 Other asset-backed 450 10 95 2 545 12 Total asset-backed 728 12 1,825 27 2,553 39 U.S. Treasury and obligations of government-sponsored enterprises 48 1 14 62 1 Foreign government 32 1 27 59 1 Total fixed maturity securities $ 2,478 $ 53 $ 3,612 $ 87 $ 6,090 $ 140 December 31, 2018 Fixed maturity securities: Corporate and other bonds $ 8,543 $ 340 $ 825 $ 55 $ 9,368 $ 395 States, municipalities and political subdivisions 517 8 5 1 522 9 Asset-backed: Residential mortgage-backed 1,932 23 1,119 34 3,051 57 Commercial mortgage-backed 728 10 397 22 1,125 32 Other asset-backed 834 21 125 3 959 24 Total asset-backed 3,494 54 1,641 59 5,135 113 U.S. Treasury and obligations of government-sponsored enterprises 21 19 40 Foreign government 114 2 124 2 238 4 Total fixed maturity securities $ 12,689 $ 404 $ 2,614 $ 117 $ 15,303 $ 521
Pretax Credit Loss Component Reflected in Retained Earnings on Fixed Maturity Securities	The following table presents the activity related to the pretax credit loss component reflected in Retained earnings on fixed maturity securities still held as of March 31, 2019 and 2018 for which a portion of an OTTI loss was recognized in OCI. Three Months Ended March 31 2019 (In millions) Beginning balance of credit losses on fixed maturity securities $ 18 $ 27 Reductions for securities sold during the period (1 ) (2 ) Ending balance of credit losses on fixed maturity securities $ 17 $ 25
Available-for-Sale Fixed Maturity Securities by Contractual Maturity	The following table presents available-for-sale March 31, 2019 December 31, 2018 Cost or Estimated Cost or Estimated Amortized Fair Amortized Fair Cost Value Cost Value (In millions) Due in one year or less $ 1,144 $ 1,155 $ 1,350 $ 1,359 Due after one year through five years 7,718 7,992 7,979 8,139 Due after five years through ten years 16,874 17,374 16,859 16,870 Due after ten years 12,176 14,004 11,893 13,174 Total $ 37,912 $ 40,525 $ 38,081 $ 39,542
Summary of Aggregate Contractual or Notional Amount and Estimated Fair Value Related to Derivative Financial Instruments	Gross estimated fair values of derivative positions are currently presented in Equity securities, Receivables and Payable to brokers on the Consolidated Condensed Balance Sheets. March 31, 2019 December 31, 2018 Contractual/ Contractual/ Notional Estimated Fair Value Notional Estimated Fair Value Amount Asset (Liability) Amount Asset (Liability) (In millions) With hedge designation: Interest rate swaps $ 540 $ 3 $ (1 ) $ 500 $ 11 Without hedge designation: Equity markets: Options – purchased 353 7 213 18 127 (6 ) 239 $ (17 ) Futures – short 50 Commodity futures – long 12 32 Embedded derivative on funds withheld liability 174 (2 ) 172 4

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized in the following tables. Corporate bonds and other includes obligations of the U.S. Treasury, government-sponsored enterprises, foreign governments and redeemable preferred stock. March 31, 2019 Level 1 Level 2 Level 3 Total (In millions) Fixed maturity securities: Corporate bonds and other $ 203 $ 20,697 $ 253 $ 21,153 States, municipalities and political subdivisions 10,578 10,578 Asset-backed 8,610 184 8,794 Fixed maturities available-for-sale 203 39,885 437 40,525 Fixed maturities trading 72 5 77 Total fixed maturities $ 203 $ 39,957 $ 442 $ 40,602 Equity securities $ 697 $ 608 $ 21 $ 1,326 Short term and other 3,199 1,204 4,403 Receivables 3 3 Payable to brokers (14 ) (14 ) December 31, 2018 Fixed maturity securities: Corporate bonds and other $ 196 $ 19,392 $ 222 $ 19,810 States, municipalities and political subdivisions 10,748 10,748 Asset-backed 8,787 197 8,984 Fixed maturities available-for-sale 196 38,927 419 39,542 Fixed maturities trading 151 6 157 Total fixed maturities $ 196 $ 39,078 $ 425 $ 39,699 Equity securities $ 704 $ 570 $ 19 $ 1,293 Short term and other 2,647 1,111 3,758 Receivables 11 11 Payable to brokers (23 ) (23 )
Reconciliations of Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs	The following tables present reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018: Unrealized Gains Unrealized (Losses) Gains Recognized in (Losses) Other Recognized in Comprehensive Net Realized Investment Net Income Income (Loss) Gains (Losses) and Net (Loss) on Level on Level 3 Change in Unrealized 3 Assets and Assets and Investment Gains (Losses) Transfers Transfers Liabilities Liabilities Balance, Included in Included in into out of Balance, Held at Held at 2019 January 1 Net Income OCI Purchases Sales Settlements Level 3 Level 3 March 31 March 31 March 31 (In millions) Fixed maturity securities: Corporate bonds and other $ 222 $ 8 $ 56 $ (2 ) $ (31 ) $ 253 $ 7 Asset-backed 197 3 20 (4 ) $ 5 (37 ) 184 3 Fixed maturities available-for-sale 419 $ - 11 76 $ - (6 ) 5 (68 ) 437 $ - 10 Fixed maturities trading 6 (1 ) 5 (1 ) Total fixed maturities $ 425 $ (1 ) $ 11 $ 76 $ - $ (6 ) $ 5 $ (68 ) $ 442 $ (1 ) $ 10 Equity securities $ 19 $ 2 $ 21 $ 2 Unrealized Gains (Losses) Recognized in Net Realized Investment Net Income Gains (Losses) and Net (Loss) on Level Change in Unrealized 3 Assets and Investment Gains (Losses) Transfers Transfers Liabilities Balance, Included in Included in into out of Balance, Held at 2018 January 1 Net Income OCI Purchases Sales Settlements Level 3 Level 3 March 31 March 31 (In millions) Fixed maturity securities: Corporate bonds and other $ 98 $ (1 ) $ (2 ) $ 5 $ 100 States, municipalities and political subdivisions 1 1 Asset-backed 335 7 $ (5 ) $ 30 $ (72 ) (6 ) $ (10 ) 279 Fixed maturities available-for-sale 434 6 (5 ) 30 (72 ) (8 ) 5 (10 ) 380 $ - Fixed maturities trading 4 3 7 3 Total fixed maturities $ 438 $ 9 $ (5 ) $ 30 $ (72 ) $ (8 ) $ 5 $ (10 ) $ 387 $ 3 Equity securities $ 22 $ (2 ) $ 20 $ (2 ) Net investment gains and losses are reported in Net income as follows: Major Category of Assets and Liabilities Consolidated Condensed Statements of Income Line Items Fixed maturity securities available-for-sale Investment gains (losses) Fixed maturity securities trading Net investment income Equity securities Investment gains (losses) and Net investment income Other invested assets Investment gains (losses) and Net investment income Derivative financial instruments held in a trading portfolio Net investment income Derivative financial instruments, other Investment gains (losses) and Operating revenues and other Life settlement contracts Operating revenues and other
Quantitative Information about Significant Unobservable Inputs Utilized by Company in Fair Value Measurements of Level 3 Assets	The following tables present quantitative information about the significant unobservable inputs utilized by the Company in the fair value measurement of Level 3 assets. Valuations for assets and liabilities not presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of unobservable inputs from these broker quotes is neither provided nor reasonably available to the Company. The weighted average rate is calculated based on fair value. Range Estimated Valuation Unobservable (Weighted March 31, 2019 Fair Value Techniques Inputs Average) (In millions) Discounted Fixed maturity securities $ 293 cash flow Credit spread 1% – 5% (3%) December 31, 2018 Discounted Fixed maturity securities $ 228 cash flow Credit spread 1% – 12% (3%)
Carrying Amount, Estimated Fair Value and Level of Fair Value Hierarchy of Company's Financial Assets and Liabilities	The carrying amounts reported on the Consolidated Condensed Balance Sheets for cash and short term investments not carried at fair value and certain other assets and liabilities approximate fair value due to the short term nature of these items. Carrying Estimated Fair Value March 31, 2019 Amount Level 1 Level 2 Level 3 Total (In millions) Assets: Other invested assets, primarily mortgage loans $ 863 $ 868 $ 868 Liabilities: Short term debt 131 $ 54 75 129 Long term debt 11,216 10,469 531 11,000 December 31, 2018 Assets: Other invested assets, primarily mortgage loans $ 839 $ 827 $ 827 Liabilities: Short term debt 15 $ 14 14 Long term debt 11,345 10,111 653 10,764

Claim and Claim Adjustment Ex_2

Claim and Claim Adjustment Expense Reserves (Tables)	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Reconciliation of Claim and Claim Adjustment Expense Reserves	The following table presents a reconciliation between beginning and ending claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves of Other Insurance Operations. Three Months Ended March 31 2019 2018 (In millions) Reserves, beginning of year: Gross $ 21,984 $ 22,004 Ceded 4,019 3,934 Net reserves, beginning of year 17,965 18,070 Net incurred claim and claim adjustment expenses: Provision for insured events of current year 1,309 1,246 Increase (decrease) in provision for insured events of prior years 8 (34 ) Amortization of discount 50 47 Total net incurred (a) 1,367 1,259 Net payments attributable to: Current year events (100 ) (91 ) Prior year events (1,309 ) (1,219 ) Total net payments (1,409 ) (1,310 ) Foreign currency translation adjustment and other 13 (9 ) Net reserves, end of period 17,936 18,010 Ceded reserves, end of period 3,900 4,057 Gross reserves, end of period $ 21,836 $ 22,067 (a) Total net incurred above does not agree to Insurance claims and policyholders’ benefits as reflected on the Consolidated Condensed Statements of Income due to amounts related to retroactive reinsurance deferred gain accounting, uncollectible reinsurance and loss deductible receivables and benefit expenses related to future policy benefits, which are not reflected in the table above.
Details of the Net Prior Year Development in CNA's Property and Casualty Operations	The following table and discussion present details of the net prior year claim and claim adjustment expense reserve development in CNA’s Property & Casualty Operations: Three Months Ended March 31 2019 2018 (In millions) Medical professional liability $ 15 $ 20 Other professional liability and management liability (12 ) (34 ) Surety (25 ) (15 ) Commercial auto (5 ) (1 ) General liability (20 ) (8 ) Workers’ compensation 2 (6 ) Property and other 31 5 Total pretax (favorable) unfavorable development $ (14 ) $ (39 )
Schedule of Impact of Loss Portfolio Transfer on the Consolidated Statement of Operations	The following table presents the impact of the loss portfolio transfer on the Consolidated Condensed Statements of Income. Three Months Ended March 31 2019 2018 (In millions) Additional amounts ceded under LPT: Net A&EP adverse development before consideration of LPT $ 113 Provision for uncollectible third-party reinsurance on A&EP (16 ) Total additional amounts ceded under LPT $ - 97 Retroactive reinsurance benefit recognized (22 ) (57 ) Pretax impact of deferred retroactive reinsurance $ (22 ) $ 40

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Future Minimum Lease Payments to be Made Under Non-Cancelable Operating Leases Along with Lease and Sublease Minimum Receipts to be Received on Owned and Leased Properties	The table below presents the future minimum lease payments to be made under non-cancelable Year Ended December 31 (In millions) 2019 $ 75 2020 79 2021 79 2022 68 2023 57 Thereafter 344 Total $ 702
Lessee Lease Liability Maturity [Table Text Block]	The table below presents the maturities of lease liabilities: Operating As of March 31, 2019 Leases (In millions) 2019 (a) $ 82 2020 108 2021 105 2022 95 2023 83 Thereafter 406 Total 879 Less: discount 174 Total lease liabilities $ 705 (a) For the nine-month period beginning April 1, 2019
Schedule of other information related to leases [Table Text Block]	The table below presents the weighted average remaining lease term for operating leases and weighted average discount rate used in calculating the operating lease asset and liability. As of March 31, 2019 Weighted average remaining lease term 8.4 Years Weighted average discount rate 4.9 %

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	The tables below present the changes in AOCI by component for the three months ended March 31, 2018 and 2019: Total Accumulated OTTI Unrealized Foreign Other Gains Gains (Losses) Cash Flow Pension Currency Comprehensive (Losses) on Investments Hedges Liability Translation Income (Loss) (In millions) Balance, January 1, 2018, as reported $ 22 $ 673 $ - $ (633 ) $ (88 ) $ (26 ) Cumulative effect adjustments from changes in accounting standards, after tax of $0, $8, $0, $0 and $0 4 98 (130 ) (28 ) Balance, January 1, 2018, as adjusted 26 771 - (763 ) (88 ) (54 ) Other comprehensive income (loss) before reclassifications, after tax of $2, $105, $(2), $0 and $0 (10 ) (414 ) 8 11 (405 ) Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $4, $0, $(3) and $0 1 (15 ) 2 10 (2 ) Other comprehensive income (loss) (9 ) (429 ) 10 10 11 (407 ) Amounts attributable to noncontrolling interests 1 44 (1 ) 44 Balance, March 31, 2018 $ 18 $ 386 $ 10 $ (753 ) $ (78 ) $ (417 ) Balance, January 1, 2019 $ 14 $ 57 $ 5 $ (793 ) $ (163 ) $ (880 ) Other comprehensive income (loss) before reclassifications, after tax of $(1), $(140), $2, $0 and $0 4 521 (6 ) (1 ) 17 535 Reclassification of losses from accumulated other comprehensive income, after tax of $0, $(1), $0, $(2) and $0 5 9 14 Other comprehensive income (loss) 4 526 (6 ) 8 17 549 Amounts attributable to noncontrolling interests (56 ) (1 ) (2 ) (59 ) Balance, March 31, 2019 $ 18 $ 527 $ (1 ) $ (786 ) $ (148 ) $ (390 ) Amounts reclassified from AOCI shown above are reported in Net income as follows:

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenues	The following table presents revenues from contracts with customers disaggregated by revenue type along with the reportable segment and a reconciliation to Operating revenues and other as reported in Note 11: Three Months Ended March 31 2019 2018 (In millions) Non-insurance $ 281 $ 238 Contract drilling - Diamond Offshore 234 296 Transportation and storage of natural gas and NGLs and other services - Boardwalk Pipeline 339 331 Lodging and related services - Loews Hotels & Co 180 183 Rigid plastic packaging and recycled resin – Corporate 214 213 Total revenues from contracts with customers 967 1,023 Other revenues 18 20 Operating revenues and other $ 985 $ 1,043

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The following table presents the components of net periodic (benefit) cost for the plans: Pension Benefits Other Three Months Ended March 31 2019 2018 2019 2018 (In millions) Service cost $ 2 $ 2 Interest cost 29 27 $ 1 $ 1 Expected return on plan assets (40 ) (45 ) (1) (1 ) Amortization of unrecognized net loss 11 11 Amortization of unrecognized prior service benefit (1 ) Settlement charge 4 Net periodic (benefit) cost $ 2 $ (1 ) $ - $ (1 )

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Consolidating Statement of Income and Total Assets by Segment	Statements of Income by segment are presented in the following tables. CNA Diamond Boardwalk Loews Three Months Ended March 31, 2019 Financial Offshore Pipeline Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 1,803 $ 1,803 Net investment income 571 $ 2 $ 84 657 Investment gains 31 31 Non-insurance 281 281 Operating revenues and other 9 234 $ 346 $ 180 216 985 Total 2,695 236 346 180 300 3,757 Expenses: Insurance claims and policyholders’ benefits 1,357 1,357 Amortization of deferred acquisition costs 342 342 Non-insurance 260 260 Operating expenses and other 284 283 195 156 231 1,149 Interest 34 30 45 5 27 141 Total 2,277 313 240 161 258 3,249 Income (loss) before income tax 418 (77 ) 106 19 42 508 Income tax (expense) benefit (77 ) 6 (27 ) (6 ) (8 ) (112 ) Net income (loss) 341 (71 ) 79 13 34 396 Amounts attributable to noncontrolling interests (36 ) 34 (2 ) Net income (loss) attributable to Loews Corporation $ 305 $ (37 ) $ 79 $ 13 $ 34 $ 394 CNA Diamond Boardwalk Loews Three Months Ended March 31, 2018 Financial Offshore Pipeline Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 1,785 $ 1,785 Net investment income 490 $ 2 $ 14 506 Investment gains 9 9 Non-insurance 238 238 Operating revenues and other 13 297 $ 337 $ 183 213 1,043 Total 2,535 299 337 183 227 3,581 Expenses: Insurance claims and policyholders’ benefits 1,339 1,339 Amortization of deferred acquisition costs 296 296 Non-insurance 216 216 Operating expenses and other 302 296 198 156 232 1,184 Interest 35 28 44 7 27 141 Total 2,188 324 242 163 259 3,176 Income (loss) before income tax 347 (25 ) 95 20 (32 ) 405 Income tax (expense) benefit (55 ) 44 (12 ) (7 ) 5 (25 ) Net income (loss) 292 19 83 13 (27 ) 380 Amounts attributable to noncontrolling interests (31 ) (9 ) (47 ) (87 ) Net income (loss) attributable to Loews Corporation $ 261 $ 10 $ 36 $ 13 $ (27 ) $ 293

Basis of presentation - Additio

Basis of presentation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Other assets	$ 3,301		$ 2,443
Other liabilities	$ 4,987		4,505
cumulative effect adjustment on other assets and other liabilities		$ 642
CNA Financial [Member]
Summary Of Significant Accounting Policies [Line Items]
Subsidiary ownership percentage	89.00%
Diamond Offshore Drilling, Inc. [Member]
Summary Of Significant Accounting Policies [Line Items]
Subsidiary ownership percentage	53.00%
Consolidated Container [Member]
Summary Of Significant Accounting Policies [Line Items]
Subsidiary ownership percentage	99.00%
Subsequent to Adoption of Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Other assets		3,100	2,400
Other liabilities		$ 5,100	$ 4,500

Investments - Net Investment In

Investments - Net Investment Income and Investment Gains (Losses) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Investment Income [Line Items]
Total investment income	$ 676	$ 521
Investment expenses	(19)	(15)
Investment gains (losses)	31	9
Net investment income	657	506
Fixed Maturity Securities [Member]
Net Investment Income [Line Items]
Total investment income	455	446
Investment gains (losses)	(6)	18
Equity Securities [Member]
Net Investment Income [Line Items]
Total investment income	30	10
Investment gains (losses)	42	(15)
Derivative Instruments [Member]
Net Investment Income [Line Items]
Investment gains (losses)	(5)	5
Short Term and Other [Member]
Net Investment Income [Line Items]
Total investment income	15	9
Investment gains (losses)		1
Income (Loss) from Trading Portfolio [Member]
Net Investment Income [Line Items]
Total investment income	81
Total investment income		(3)
Limited Partnership Investments [Member]
Net Investment Income [Line Items]
Total investment income	81	48
Other [Member]
Net Investment Income [Line Items]
Total investment income	$ 14	$ 11

Investments - Net Investment _2

Investments - Net Investment Income and Investment Gains (Losses) (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Investment Income [Line Items]
Net unrealized gains (losses) on trading securities	$ 44	$ (25)
Nonredeemable Preferred Stock [Member]
Net Investment Income [Line Items]
Net realized gains (losses) on trading securities	42	(15)
Fixed Maturity Securities [Member]
Net Investment Income [Line Items]
Gross realized gains on available-for-sale securities	36	69
Gross realized losses on available-for-sale securities	$ 42	$ 51

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Shadow Adjustments	$ 1,300	$ 964
Additional other than temporary impairment losses	$ 0

Investments - Components of OTT

Investments - Components of OTTI Losses Recognized in Earnings by Asset Type (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Net OTTI losses recognized in earnings	$ 14	$ 6
Corporate Bonds and Other [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Net OTTI losses recognized in earnings	6	5
Total Asset-Backed [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Net OTTI losses recognized in earnings	$ 8	$ 1

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Values of Fixed Maturity and Equity Securities (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	$ 37,985	$ 38,234
Gross Unrealized Gains	2,757	1,986
Gross Unrealized Losses	140	521
Estimated Fair Value	40,602	39,699
Unrealized OTTI Losses (Gains)	(25)	(20)
Corporate Bonds and Other [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	19,296	18,764
Gross Unrealized Gains	1,269	791
Gross Unrealized Losses	99	395
Estimated Fair Value	20,466	19,160
States, Municipalities and Political Subdivisions [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	9,279	9,681
Gross Unrealized Gains	1,299	1,076
Gross Unrealized Losses		9
Estimated Fair Value	10,578	10,748
Residential Mortgage-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	4,760	4,815
Gross Unrealized Gains	92	68
Gross Unrealized Losses	20	57
Estimated Fair Value	4,832	4,826
Unrealized OTTI Losses (Gains)	(22)	(20)
Commercial Mortgage-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	2,026	2,200
Gross Unrealized Gains	53	28
Gross Unrealized Losses	7	32
Estimated Fair Value	2,072	2,196
Other Asset-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	1,877	1,975
Gross Unrealized Gains	25	11
Gross Unrealized Losses	12	24
Estimated Fair Value	1,890	1,962
Unrealized OTTI Losses (Gains)	(3)
Total Asset-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	8,663	8,990
Gross Unrealized Gains	170	107
Gross Unrealized Losses	39	113
Estimated Fair Value	8,794	8,984
Unrealized OTTI Losses (Gains)	(25)	(20)
U.S. Treasury and obligations of government-sponsored enterprises [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	162	156
Gross Unrealized Gains	3	3
Gross Unrealized Losses	1
Estimated Fair Value	164	159
Foreign Government [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	502	480
Gross Unrealized Gains	12	5
Gross Unrealized Losses	1	4
Estimated Fair Value	513	481
Redeemable Preferred Stock [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	10	10
Estimated Fair Value	10	10
Total Fixed Maturities Available-for-Sale [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	37,912	38,081
Gross Unrealized Gains	2,753	1,982
Gross Unrealized Losses	140	521
Estimated Fair Value	40,525	39,542
Unrealized OTTI Losses (Gains)	(25)	(20)
Fixed Maturities Trading [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	73	153
Gross Unrealized Gains	4	4
Estimated Fair Value	$ 77	$ 157

Investments - Securities Availa

Investments - Securities Available-for-Sale in Gross Unrealized Loss Position (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Corporate Bonds and Other [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	$ 1,656	$ 8,543
Gross Unrealized Losses, Less than 12 Months	39	340
Estimated Fair Value, 12 Months or Longer	1,743	825
Gross Unrealized Losses, 12 Months or Longer	60	55
Total Estimated Fair Value	3,399	9,368
Total Gross Unrealized Losses	99	395
States, Municipalities and Political Subdivisions [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	14	517
Gross Unrealized Losses, Less than 12 Months		8
Estimated Fair Value, 12 Months or Longer	3	5
Gross Unrealized Losses, 12 Months or Longer		1
Total Estimated Fair Value	17	522
Total Gross Unrealized Losses		9
Residential Mortgage-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	94	1,932
Gross Unrealized Losses, Less than 12 Months		23
Estimated Fair Value, 12 Months or Longer	1,494	1,119
Gross Unrealized Losses, 12 Months or Longer	20	34
Total Estimated Fair Value	1,588	3,051
Total Gross Unrealized Losses	20	57
Commercial Mortgage-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	184	728
Gross Unrealized Losses, Less than 12 Months	2	10
Estimated Fair Value, 12 Months or Longer	236	397
Gross Unrealized Losses, 12 Months or Longer	5	22
Total Estimated Fair Value	420	1,125
Total Gross Unrealized Losses	7	32
Other Asset-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	450	834
Gross Unrealized Losses, Less than 12 Months	10	21
Estimated Fair Value, 12 Months or Longer	95	125
Gross Unrealized Losses, 12 Months or Longer	2	3
Total Estimated Fair Value	545	959
Total Gross Unrealized Losses	12	24
Total Asset-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	728	3,494
Gross Unrealized Losses, Less than 12 Months	12	54
Estimated Fair Value, 12 Months or Longer	1,825	1,641
Gross Unrealized Losses, 12 Months or Longer	27	59
Total Estimated Fair Value	2,553	5,135
Total Gross Unrealized Losses	39	113
U.S. Treasury and obligations of government-sponsored enterprises [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	48	21
Gross Unrealized Losses, Less than 12 Months	1
Estimated Fair Value, 12 Months or Longer	14	19
Total Estimated Fair Value	62	40
Total Gross Unrealized Losses	1
Foreign Government [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	32	114
Gross Unrealized Losses, Less than 12 Months	1	2
Estimated Fair Value, 12 Months or Longer	27	124
Gross Unrealized Losses, 12 Months or Longer		2
Total Estimated Fair Value	59	238
Total Gross Unrealized Losses	1	4
Fixed Maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	2,478	12,689
Gross Unrealized Losses, Less than 12 Months	53	404
Estimated Fair Value, 12 Months or Longer	3,612	2,614
Gross Unrealized Losses, 12 Months or Longer	87	117
Total Estimated Fair Value	6,090	15,303
Total Gross Unrealized Losses	$ 140	$ 521

Investments - Pretax Credit Los

Investments - Pretax Credit Loss Component Reflected in Retained Earnings on Fixed Maturity Securities (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Beginning balance of credit losses on fixed maturity securities	$ 18	$ 27
Reductions for securities sold during the period	(1)	(2)
Ending balance of credit losses on fixed maturity securities	$ 17	$ 25

Investments - Available-for-Sal

Investments - Available-for-Sale Fixed Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Cost or Amortized Cost, Due in one year or less	$ 1,144	$ 1,350
Cost or Amortized Cost, Due after one year through five years	7,718	7,979
Cost or Amortized Cost, Due after five years through ten years	16,874	16,859
Cost or Amortized Cost, Due after ten years	12,176	11,893
Cost or Amortized Cost, Total	37,912	38,081
Estimated Fair Value, Due in one year or less	1,155	1,359
Estimated Fair Value, Due after one year through five years	7,992	8,139
Estimated Fair Value, Due after five years through ten years	17,374	16,870
Estimated Fair Value, Due after ten years	14,004	13,174
Estimated Fair Value, Total	$ 40,525	$ 39,542

Investments - Summary of Aggreg

Investments - Summary of Aggregate Contractual or Notional Amounts and Estimated Fair Values Related to Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Embedded Derivative on Funds Withheld Liability [Member]
Derivative [Line Items]
Contractual/Notional Amount	$ 174	$ 172
Estimated Fair Value, Asset		4
Estimated Fair Value, (Liability)	(2)
With Hedge Designation [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Contractual/Notional Amount	540	500
Estimated Fair Value, Asset	3	11
Estimated Fair Value, (Liability)	(1)
Without Hedge Designation [Member] | Equity Markets, Options - Purchased [Member]
Derivative [Line Items]
Contractual/Notional Amount	353	213
Estimated Fair Value, Asset	7	18
Without Hedge Designation [Member] | Equity Markets, Options - Written [Member]
Derivative [Line Items]
Contractual/Notional Amount	127	239
Estimated Fair Value, (Liability)	(6)	(17)
Without Hedge Designation [Member] | Equity Futures [Member] | Short [Member]
Derivative [Line Items]
Contractual/Notional Amount	50
Without Hedge Designation [Member] | Commodity Futures [Member] | Long [Member]
Derivative [Line Items]
Contractual/Notional Amount	$ 12	$ 32

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Corporate Bonds and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	$ 21,153	$ 19,810
States, Municipalities and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	10,578	10,748
Total Asset-Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	8,794	8,984
Total Fixed Maturities Available-for-Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	40,525	39,542
Fixed Maturities Trading [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	77	157
Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	40,602	39,699
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	1,326	1,293
Fair Value, Measurements, Recurring [Member] | Payable to Brokers [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities, measured on a recurring basis	(14)	(23)
Fair Value, Measurements, Recurring [Member] | Receivables [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	3	11
Short Term and Other [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	4,403	3,758
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Payable to Brokers [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities, measured on a recurring basis	(14)	(23)
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Bonds and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	203	196
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Total Fixed Maturities Available-for-Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	203	196
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	203	196
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	697	704
Level 1 [Member] | Short Term and Other [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	3,199	2,647
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Bonds and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	20,697	19,392
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | States, Municipalities and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	10,578	10,748
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Total Asset-Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	8,610	8,787
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Total Fixed Maturities Available-for-Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	39,885	38,927
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Fixed Maturities Trading [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	72	151
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	39,957	39,078
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	608	570
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Receivables [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	3	11
Level 2 [Member] | Short Term and Other [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	1,204	1,111
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Bonds and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	253	222
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Total Asset-Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	184	197
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Total Fixed Maturities Available-for-Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	437	419
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Fixed Maturities Trading [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	5	6
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	442	425
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis	$ 21	$ 19

Fair Value - Reconciliations of

Fair Value - Reconciliations of Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Corporate Bonds and Other [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 222	$ 98
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)		(1)
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in OCI	8
Purchases	56
Settlements	(2)	(2)
Transfers into Level 3		5
Transfers out of Level 3	(31)
Ending balance	253	100
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	7
States, Municipalities and Political Subdivisions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance		1
Ending balance		1
Total Asset-Backed [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	197	335
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)		7
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in OCI	3	(5)
Purchases	20	30
Sales		(72)
Settlements	(4)	(6)
Transfers into Level 3	5
Transfers out of Level 3	(37)	(10)
Ending balance	184	279
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	3
Total Fixed Maturities Available-for-Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	419	434
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)	0	6
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in OCI	11	(5)
Purchases	76	30
Sales	0	(72)
Settlements	(6)	(8)
Transfers into Level 3	5	5
Transfers out of Level 3	(68)	(10)
Ending balance	437	380
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	10
Fixed Maturities Trading [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	6	4
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)	(1)	3
Ending balance	5	7
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities	(1)	3
Fixed Maturity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	425	438
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)	(1)	9
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in OCI	11	(5)
Purchases	76	30
Sales	0	(72)
Settlements	(6)	(8)
Transfers into Level 3	5	5
Transfers out of Level 3	(68)	(10)
Ending balance	442	387
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities	(1)	3
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	10
Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	19	22
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)	2	(2)
Ending balance	21	20
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities	2	$ (2)
Equity Securities Available-for-Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities	$ 0

Fair Value - Quantitative Infor

Fair Value - Quantitative Information about Significant Unobservable Inputs Utilized by Company in Fair Value Measurements of Level 3 Assets (Detail) $ in Millions	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	$ 40,525	$ 39,542
Level 3 [Member] | Fixed Maturity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	$ 293	$ 228
Minimum [Member] | Level 3 [Member] | Credit Spread [Member] | Discounted Cash Flow [Member] | Fixed Maturity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.01	0.01
Maximum [Member] | Level 3 [Member] | Credit Spread [Member] | Discounted Cash Flow [Member] | Fixed Maturity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.05	0.12
Weighted Average [Member] | Level 3 [Member] | Credit Spread [Member] | Discounted Cash Flow [Member] | Fixed Maturity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.03	0.03

Fair Value - Carrying Amount, E

Fair Value - Carrying Amount, Estimated Fair Value and Level of Fair Value Hierarchy of Company's Financial Assets and Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Estimate Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets, primarily mortgage loans	$ 868	$ 827
Short term debt	129	14
Long term debt	11,000	10,764
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets, primarily mortgage loans	863	839
Short term debt	131	15
Long term debt	11,216	11,345
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short term debt	54	14
Long term debt	10,469	10,111
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets, primarily mortgage loans	868	827
Short term debt	75
Long term debt	$ 531	$ 653

Claim and Claim Adjustment Ex_3

Claim and Claim Adjustment Expense Reserves - Additional Information (Detail) - CNA Financial [Member] - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2010	Dec. 31, 2018
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Catastrophe losses, net of reinsurance	$ 58	$ 34
Net A&EP adverse development before consideration of LPT		113
Fair value of the collateral trust account	3,000			$ 2,700
Asbestos and Environmental Pollution Reserves [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Net A&EP claim and allocated claim adjustment expense reserves			$ 1,600
Aggregate limit under A&EP Loss Portfolio Transfer			4,000
Ceded A&EP claim and allocated claim adjustment expense reserves			1,200
Reinsurance premium paid to NICO under A&EP Loss Portfolio Transfer			2,000
Net reinsurance receivables transferred to NICO under A&EP Loss Portfolio Transfer			215
Total consideration			$ 2,200
Cumulative amounts ceded under the Loss Portfolio Transfer	3,100			3,100
Remaining unrecognized retroactive reinsurance benefit	352			$ 374
Property and Casualty Operations [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Favorable net prior year development	$ 14	$ 39

Claim and Claim Adjustment Ex_4

Claim and Claim Adjustment Expense Reserves - Reconciliation of Claim and Claim Adjustment Expense Reserves (Detail) - CNA Financial [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Liability for Claims and Claims Adjustment Expense [Line Items]
Gross reserves, beginning of year	$ 21,984	$ 22,004
Ceded reserves, beginning of year	4,019	3,934
Net reserves, beginning of year	17,965	18,070
Net incurred claim and claim adjustment expenses:
Provision for insured events of current year	1,309	1,246
Increase (decrease) in provision for insured events of prior years	8	(34)
Amortization of discount	50	47
Total net incurred	1,367	1,259
Net payments attributable to:
Current year events	(100)	(91)
Prior year events	(1,309)	(1,219)
Total net payments	(1,409)	(1,310)
Foreign currency translation adjustment and other	13	(9)
Net reserves, end of period	17,936	18,010
Ceded reserves, end of period	3,900	4,057
Gross reserves, end of period	$ 21,836	$ 22,067

Claim and Claim Adjustment Ex_5

Claim and Claim Adjustment Expense Reserves - Net Prior Year Development in CNA's Property and Casualty Operations (Detail) - CNA Financial [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Medical professional liability	$ 15	$ 20
Other professional liability and management liability	(12)	(34)
Surety	(25)	(15)
Commercial auto	(5)	(1)
General liability	(20)	(8)
Workers' compensation	2	(6)
Property and other	31	5
Total pretax (favorable) unfavorable development	$ (14)	$ (39)

Claim and Claim Adjustment Ex_6

Claim and Claim Adjustment Expense Reserves - Schedule of Impact of Loss Portfolio Transfer on the Consolidated Statement of Operations (Detail) - CNA Financial [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Additional amounts ceded under LPT:
Net A&EP adverse development before consideration of LPT		$ 113
Provision for uncollectible third-party reinsurance on A&EP		(16)
Total additional amounts ceded under LPT	$ 0	97
Retroactive reinsurance benefit recognized	(22)	(57)
Pretax impact of deferred retroactive reinsurance	$ (22)	$ 40

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease asset	$ 629
Operating lease liability	705
Operating lease cost	30
Variable lease cost	4
Short term lease cost	2
Lease liability cash payments	$ 29

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments to be Made Under Non-Cancelable Operating Leases Along with Lease and Sublease Minimum Receipts to be Received on Owned and Leased Properties (Detail) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
Operating leases, Future Minimum Lease Payments, 2019	$ 75
Operating leases, Future Minimum Lease Payments, 2020	79
Operating leases, Future Minimum Lease Payments, 2021	79
Operating leases, Future Minimum Lease Payments, 2022	68
Operating leases, Future Minimum Lease Payments, 2023	57
Operating leases, Future Minimum Lease Payments, Thereafter	344
Operating leases, Future Minimum Lease Payments, Total	$ 702

Leases - Presents the maturitie

Leases - Presents the maturities of lease liabilities (Detail) $ in Millions	Mar. 31, 2019USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, 2019	$ 82
Lessee, Operating Lease, Liability, Payments, 2020	108
Lessee, Operating Lease, Liability, Payments, 2021	105
Lessee, Operating Lease, Liability, Payments, 2022	95
Lessee, Operating Lease, Liability, Payments, 2023	83
Lessee, Operating Lease, Liability, Payments, Thereafter	406
Lessee, Operating Lease, Liability, Payments, Lessee, Operating Lease, Total	879
Discount on Operating Less: discount	174
Operating Lease, Total lease liabilities	$ 705

Leases - other information rela

Leases - other information related to leases (Detail)	Mar. 31, 2019
Weighted Average Remaining Lease Term [Abstract]
Operating leases	8 years 4 months 24 days
Weighted Average Discount Rate [Abstract]
Operating leases	4.90%

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 21,386	$ 24,566
Cumulative effect adjustments from changes in accounting standards		(91)
Balance, as adjusted		24,475
Other comprehensive income (loss)	549	(407)
Ending Balance	21,902	23,848
OTTI Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	14	22
Cumulative effect adjustments from changes in accounting standards		4
Balance, as adjusted		26
Other comprehensive income (loss) before reclassifications, after tax	4	(10)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax		1
Other comprehensive income (loss)	4	(9)
Amounts attributable to noncontrolling interests		1
Ending Balance	18	18
Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	57	673
Cumulative effect adjustments from changes in accounting standards		98
Balance, as adjusted		771
Other comprehensive income (loss) before reclassifications, after tax	521	(414)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax	5	(15)
Other comprehensive income (loss)	526	(429)
Amounts attributable to noncontrolling interests	(56)	44
Ending Balance	527	386
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	5	0
Balance, as adjusted		0
Other comprehensive income (loss) before reclassifications, after tax	(6)	8
Reclassification of (gains) losses from accumulated other comprehensive income, after tax		2
Other comprehensive income (loss)	(6)	10
Ending Balance	(1)	10
Pension Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(793)	(633)
Cumulative effect adjustments from changes in accounting standards		(130)
Balance, as adjusted		(763)
Other comprehensive income (loss) before reclassifications, after tax	(1)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax	9	10
Other comprehensive income (loss)	8	10
Amounts attributable to noncontrolling interests	(1)
Ending Balance	(786)	(753)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(163)	(88)
Balance, as adjusted		(88)
Other comprehensive income (loss) before reclassifications, after tax	17	11
Other comprehensive income (loss)	17	11
Amounts attributable to noncontrolling interests	(2)	(1)
Ending Balance	(148)	(78)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(880)	(26)
Cumulative effect adjustments from changes in accounting standards		(28)
Balance, as adjusted		(54)
Other comprehensive income (loss) before reclassifications, after tax	535	(405)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax	14	(2)
Other comprehensive income (loss)	549	(407)
Amounts attributable to noncontrolling interests	(59)	44
Ending Balance	$ (390)	$ (417)

Shareholders' Equity - Compon_2

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2018
OTTI Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	$ (1)	$ 2
Tax on reclassification from accumulated other comprehensive income	0	0
Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	(140)	105
Tax on reclassification from accumulated other comprehensive income	(1)	4
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	2	(2)
Tax on reclassification from accumulated other comprehensive income	0	0
Pension Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	0	0
Tax on reclassification from accumulated other comprehensive income	(2)	(3)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	0	0
Tax on reclassification from accumulated other comprehensive income	$ 0	$ 0
Accounting Standards Update 2016-01 [Member] | OTTI Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on cumulative effect adjustment for adoption of ASU 2016-01			$ 0
Accounting Standards Update 2016-01 [Member] | Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on cumulative effect adjustment for adoption of ASU 2016-01			8
Accounting Standards Update 2016-01 [Member] | Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on cumulative effect adjustment for adoption of ASU 2016-01			0
Accounting Standards Update 2016-01 [Member] | Pension Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on cumulative effect adjustment for adoption of ASU 2016-01			0
Accounting Standards Update 2016-01 [Member] | Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on cumulative effect adjustment for adoption of ASU 2016-01			$ 0

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Equity [Abstract]
Treasury stock repurchased, shares	6.8	9.9
Purchase of Loews treasury stock	$ 322	$ 497

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenues (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 967	$ 1,023
Other revenues	18	20
Operating revenues and other	985	1,043
CNA Financial [Member] | Non-insurance Warranty [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	281	238
Diamond Offshore [Member] | Drilling Contracts [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	234	296
Boardwalk Pipeline [Member] | Transportation and Storage of Natural Gas and NGLs and Other Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	339	331
Loews Hotels And Co [Member] | Lodging and Related Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	180	183
Corporate [Member] | Rigid Plastic Packaging and Recycled Resin [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 214	$ 213

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Receivables from contracts with customers, included within Receivables	$ 446		$ 434
Deferred revenue, included within Other liabilities	3,472		$ 3,402
Revenue recognized	285	$ 268
Performance obligations	13,200
2019 [Member]
Disaggregation of Revenue [Line Items]
Performance obligations	1,900
2020 [Member]
Disaggregation of Revenue [Line Items]
Performance obligations	$ 1,900

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2	$ 2
Interest cost	29	27
Expected return on plan assets	(40)	(45)
Amortization of unrecognized net (gain) loss	11	11
Amortization of unrecognized prior service benefit	0
Settlement charge	0	4
Net periodic (benefit) cost	2	(1)
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1	1
Expected return on plan assets	(1)	(1)
Amortization of unrecognized net (gain) loss	0
Amortization of unrecognized prior service benefit	0	(1)
Settlement charge	0
Net periodic (benefit) cost	$ 0	$ (1)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - CNA Financial [Member] $ in Millions	Mar. 31, 2019USD ($)
Commitments [Line Items]
Aggregate amount related to indemnification agreements	$ 252
Aggregate amount related to quantifiable guarantees	375
Potential amount of future payments under guarantees	$ 1,700

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019Segment
Segment Reporting [Abstract]
Number of reportable segments	5
Number of individual operating subsidiaries	4

Segments - Consolidating Statem

Segments - Consolidating Statement of Income and Total Assets by Segment (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Insurance premiums	$ 1,803	$ 1,785
Net investment income	657	506
Investment gains	31	9
Non-insurance warranty revenue	281	238
Operating revenues and other	985	1,043
Total	3,757	3,581
Expenses:
Insurance claims and policyholders' benefits	1,357	1,339
Amortization of deferred acquisition costs	342	296
Non-insurance warranty expense	260	216
Operating expenses and other	1,149	1,184
Interest	141	141
Total	3,249	3,176
Income (loss) before income tax	508	405
Income tax (expense) benefit	(112)	(25)
Net income (loss)	396	380
Amounts attributable to noncontrolling interests	(2)	(87)
Net income (loss) attributable to Loews Corporation	394	293
CNA Financial [Member] | Operating Segments [Member]
Revenues:
Insurance premiums	1,803	1,785
Net investment income	571	490
Investment gains	31	9
Non-insurance warranty revenue	281	238
Operating revenues and other	9	13
Total	2,695	2,535
Expenses:
Insurance claims and policyholders' benefits	1,357	1,339
Amortization of deferred acquisition costs	342	296
Non-insurance warranty expense	260	216
Operating expenses and other	284	302
Interest	34	35
Total	2,277	2,188
Income (loss) before income tax	418	347
Income tax (expense) benefit	(77)	(55)
Net income (loss)	341	292
Amounts attributable to noncontrolling interests	(36)	(31)
Net income (loss) attributable to Loews Corporation	305	261
Diamond Offshore [Member] | Operating Segments [Member]
Revenues:
Net investment income	2	2
Operating revenues and other	234	297
Total	236	299
Expenses:
Operating expenses and other	283	296
Interest	30	28
Total	313	324
Income (loss) before income tax	(77)	(25)
Income tax (expense) benefit	6	44
Net income (loss)	(71)	19
Amounts attributable to noncontrolling interests	34	(9)
Net income (loss) attributable to Loews Corporation	(37)	10
Boardwalk Pipeline [Member] | Operating Segments [Member]
Revenues:
Operating revenues and other	346	337
Total	346	337
Expenses:
Operating expenses and other	195	198
Interest	45	44
Total	240	242
Income (loss) before income tax	106	95
Income tax (expense) benefit	(27)	(12)
Net income (loss)	79	83
Amounts attributable to noncontrolling interests		(47)
Net income (loss) attributable to Loews Corporation	79	36
Loews Hotels And Co [Member] | Operating Segments [Member]
Revenues:
Operating revenues and other	180	183
Total	180	183
Expenses:
Operating expenses and other	156	156
Interest	5	7
Total	161	163
Income (loss) before income tax	19	20
Income tax (expense) benefit	(6)	(7)
Net income (loss)	13	13
Net income (loss) attributable to Loews Corporation	13	13
Corporate [Member]
Revenues:
Net investment income	84	14
Operating revenues and other	216	213
Total	300	227
Expenses:
Operating expenses and other	231	232
Interest	27	27
Total	258	259
Income (loss) before income tax	42	(32)
Income tax (expense) benefit	(8)	5
Net income (loss)	34	(27)
Net income (loss) attributable to Loews Corporation	$ 34	$ (27)