Loews (L) 10-Q 5 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 26, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000060086
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2019
Entity Registrant Name	LOEWS CORP
Entity Filer Category	Large Accelerated Filer
Trading Symbol	L
Entity Emerging Growth Company	false
Entity Small Business	false
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2646102
Entity File Number	1-6541
Entity Address, Address Line One	667 Madison Avenue
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10065-8087
City Area Code	212
Local Phone Number	521-2000
Title of 12(b) Security	Common stock
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Address, City or Town	NY
Entity Common Stock, Shares Outstanding		302,380,038

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Assets:
Fixed maturities, amortized cost of $38,045 and $38,234	$ 41,663	$ 39,699
Equity securities, cost of $1,385 and $1,479	1,367	1,293
Limited partnership investments	2,036	2,424
Other invested assets, primarily mortgage loans	985	901
Short term investments	4,689	3,869
Total investments	50,740	48,186
Cash	440	405
Receivables	8,144	7,960
Property, plant and equipment	15,513	15,511
Goodwill	768	665
Deferred non-insurance warranty acquisition expenses	2,678	2,513
Deferred acquisition costs of insurance subsidiaries	681	633
Other assets	3,313	2,443
Total assets	82,277	78,316
Liabilities and Equity:
Claim and claim adjustment expense	21,729	21,984
Future policy benefits	11,537	10,597
Unearned premiums	4,648	4,183
Total insurance reserves	37,914	36,764
Payable to brokers	576	42
Short term debt	87	17
Long term debt	11,456	11,359
Deferred income taxes	1,227	841
Deferred non-insurance warranty revenue	3,595	3,402
Other liabilities	5,028	4,505
Total liabilities	59,883	56,930
Commitments and contingent liabilities
Preferred stock, $0.10 par value:
Common stock, $0.01 par value:	3	3
Additional paid-in capital	3,612	3,627
Retained earnings	16,374	15,773
Accumulated other comprehensive income (loss)	3	(880)
Shareholders' equity before treasury stock, total	19,992	18,523
Less treasury stock, at cost (9,930,431 and 100,000 shares)	(478)	(5)
Total shareholders' equity	19,514	18,518
Noncontrolling interests	2,880	2,868
Total equity	22,394	21,386
Total liabilities and equity	$ 82,277	$ 78,316

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Fixed maturities, amortized cost	$ 38,045	$ 38,234
Equity securities, cost	$ 1,385	$ 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	312,528,502	312,169,189
Treasury stock, shares	9,930,431	100,000

Consolidated Condensed Statemen

Consolidated Condensed Statements of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Insurance premiums	$ 1,824	$ 1,815	$ 3,627	$ 3,600
Net investment income	551	551	1,208	1,057
Investment gains (losses):
Other-than-temporary impairment losses	(6)		(20)	(6)
Other net investment gains (losses)	8	(3)	53	12
Total investment gains (losses)	2	(3)	33	6
Non-insurance warranty revenue	285	248	566	486
Operating revenues and other	961	979	1,946	2,022
Total	3,623	3,590	7,380	7,171
Expenses:
Insurance claims and policyholders' benefits	1,352	1,327	2,709	2,666
Amortization of deferred acquisition costs	338	359	680	655
Non-insurance warranty expense	263	225	523	441
Operating expenses and other	1,231	1,229	2,380	2,413
Interest	164	143	305	284
Total	3,348	3,283	6,597	6,459
Income before income tax	275	307	783	712
Income tax expense	(50)	(59)	(162)	(84)
Net income	225	248	621	628
Amounts attributable to noncontrolling interests	24	(18)	22	(105)
Net income attributable to Loews Corporation	$ 249	$ 230	$ 643	$ 523
Basic net income per share	$ 0.82	$ 0.72	$ 2.10	$ 1.62
Diluted net income per share	$ 0.82	$ 0.72	$ 2.09	$ 1.61
Weighted average shares outstanding:
Shares of common stock	303,840	318,870	306,820	323,300
Dilutive potential shares of common stock	700	910	620	930
Total weighted average shares outstanding assuming dilution	304,540	319,780	307,440	324,230

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 225	$ 248	$ 621	$ 628
Other comprehensive income (loss), after tax Changes in:
Net unrealized gains (losses) on investments with other-than-temporary impairments		(1)	4	(10)
Net other unrealized gains (losses) on investments	436	(159)	962	(588)
Total unrealized gains (losses) on investments	436	(160)	966	(598)
Unrealized gains (losses) on cash flow hedges	(6)	4	(12)	14
Pension liability	7	9	15	19
Foreign currency translation	3	(52)	20	(41)
Other comprehensive income (loss)	440	(199)	989	(606)
Comprehensive income	665	49	1,610	22
Amounts attributable to noncontrolling interests	(23)	2	(84)	(41)
Total comprehensive income (loss) attributable to Loews Corporation	$ 642	$ 51	$ 1,526	$ (19)

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	628			523			105
Other comprehensive income	(606)				(542)		(64)
Dividends paid	(140)			(40)			(100)
Purchase of Boardwalk Pipeline common units	(1,715)		661		(29)		(2,347)
Purchases of Loews treasury stock	(788)					(788)
Stock-based compensation	8		1				7
Other	(4)		(4)	(4)			4
Ending Balance at Jun. 30, 2018	21,858	3	3,809	16,532	(625)	(808)	2,947
Beginning Balance at Mar. 31, 2018	23,848	3	3,142	16,321	(417)	(517)	5,316
Net income	248			230			18
Other comprehensive income	(199)				(179)		(20)
Dividends paid	(42)			(20)			(22)
Purchase of Boardwalk Pipeline common units	(1,715)		661		(29)		(2,347)
Purchases of Loews treasury stock	(291)					(291)
Stock-based compensation	8		8
Other	1		(2)	1			2
Ending Balance at Jun. 30, 2018	21,858	3	3,809	16,532	(625)	(808)	2,947
Beginning Balance at Dec. 31, 2018	21,386	3	3,627	15,773	(880)	(5)	2,868
Net income	621			643			(22)
Other comprehensive income	989				883		106
Dividends paid	(116)			(38)			(78)
Purchases of Loews treasury stock	(473)					(473)
Purchases of subsidiary stock from noncontrolling interests	(16)						(16)
Stock-based compensation	8		(13)				21
Other	(5)		(2)	(4)			1
Ending Balance at Jun. 30, 2019	22,394	3	3,612	16,374	3	(478)	2,880
Beginning Balance at Mar. 31, 2019	21,902	3	3,607	16,144	(390)	(327)	2,865
Net income	225			249			(24)
Other comprehensive income	440				393		47
Dividends paid	(29)			(19)			(10)
Purchases of Loews treasury stock	(151)					(151)
Purchases of subsidiary stock from noncontrolling interests	(2)						(2)
Stock-based compensation	7		6				1
Other	2		(1)				3
Ending Balance at Jun. 30, 2019	$ 22,394	$ 3	$ 3,612	$ 16,374	$ 3	$ (478)	$ 2,880

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating Activities:
Net income	$ 621	$ 628
Adjustments to reconcile net income to net cash provided (used) by operating activities, net	604	494
Changes in operating assets and liabilities, net:
Receivables	(79)	(507)
Deferred acquisition costs	(47)	(43)
Insurance reserves	203	563
Other assets	(296)	(151)
Other liabilities	73	(115)
Trading securities	(605)	1,282
Net cash flow provided by operating activities	474	2,151
Investing Activities:
Purchases of fixed maturities	(4,896)	(5,608)
Proceeds from sales of fixed maturities	3,858	4,781
Proceeds from maturities of fixed maturities	1,374	1,306
Purchases of limited partnership investments	(139)	(73)
Proceeds from sales of limited partnership investments	559	94
Purchases of property, plant and equipment	(505)	(480)
Acquisitions	(256)	(10)
Dispositions	136	2
Change in short term investments	6	(1,104)
Other, net	(93)	(145)
Net cash flow provided by investing activities	44	(1,237)
Financing Activities:
Dividends paid	(38)	(40)
Dividends paid to noncontrolling interests	(78)	(100)
Purchases of Loews treasury stock	(478)	(799)
Purchases of subsidiary stock from noncontrolling interests	(16)
Principal payments on debt	(1,394)	(605)
Issuance of debt	1,534	533
Other, net	(15)	83
Net cash flow used by financing activities	(485)	(928)
Effect of foreign exchange rate on cash	2	(5)
Net change in cash	35	(19)
Cash, beginning of period	405	472
Cash, end of period	$ 440	$ 453

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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 Pipelines”), 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 June 30, 2019 and December 31, 2018 and results of operations, comprehensive income and changes in shareholders’ equity for the three and six months ended June , and and cash flows for the six months ended June , and . Net income for the second quarter and first half 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 for the year ended December , . 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 and six months ended June 30, 2019 and 2018 because the effect would have been antidilutive. Accounting changes For leases where we are a lessee we have elected to account for lease and non-lease components as a single lease component, except subsea equipment leases. For leases where we are a lessor we have elected to combine the lease and non-lease components of our offshore drilling contracts, if certain conditions are met, and account for the combined component in accordance with the accounting treatment for the predominant component of the contract. 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 , the FASB issued ASU 2016- 13, 326) : Measurement of Credit Losses on Financial Instruments.” The updated accounting guidance requires changes to the recognition of credit losses on financial instruments not accounted for at fair value through net income. The guidance is effective for interim and annual periods beginning after December 15 , 2019 . The guidance will be applied using the modified retrospective method with a cumulative effect adjustment to beginning retained earnings. A prospective transition method is required for debt securities that have recognized an other-than-temporary mortgage loan portfolio, reinsurance and insurance receivables and other financing receivables and the use of the allowance method rather than the write-down method for credit losses within the available-for-sale fixed maturities portfolio. The expected credit loss model will require a financial asset to be presented at the ultimate net amount expected to be collected over the term of the asset. Under the allowance method for available-for-sale debt securities, the Company will record reversals of credit losses if the estimate of credit losses declines. The Company is currently evaluating the effect the guidance will have on its consolidated financial statements. In August of 2018, the FASB issued ASU 2018-12, “Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts.” The updated accounting guidance requires changes to the measurement and disclosure of long-duration contracts. The guidance requires entities to update annually cash flow assumptions, including morbidity and persistency, and update quarterly discount rate assumptions using an upper-medium grade fixed-income instrument yield. The effect of changes in cash flow assumptions will be recorded in Net income and the effect of changes in discount rate assumptions will be recorded in Other comprehensive income (“OCI”). This guidance is effective for interim and annual periods beginning after December 15, 2020; however, the FASB has proposed a one year deferral of the effective date. The guidance requires restatement of the prior periods presented and 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 3 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.

Acquisitions and Divestiture

Acquisitions and Divestiture	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions and Divestiture	2. Acquisitions and Divestiture Consolidated Container During the first six months of 2019, Consolidated Container paid approximately $ 260 pproximately $ 102 million of goodwill and approximately $ 89 million with approximately $ 250 million of debt Loews Hotels & Co Loews Hotels & Co sold an owned hotel for approximately $127 million in May of 2019.

Investments

Investments	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	3. Investments Net investment income is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 (In millions) Fixed maturity securities $ 455 $ 444 $ 910 $ 890 Limited partnership investments 43 60 124 108 Short term investments 14 11 29 20 Equity securities 16 12 46 22 Income from trading portfolio (a) 29 23 110 20 Other 12 17 26 28 Total investment income 569 567 1,245 1,088 Investment expenses (18 ) (16 ) (37 ) (31 ) Net investment income $ 551 $ 551 $ 1,208 $ 1,057 (a) Net unrealized gains (losses) related to changes in fair value on securities still held were $ 8 48 (25 Investment gains (losses) are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 (In millions) Fixed maturity securities $ (3 ) $ 4 $ (9 ) $ 22 Equity securities 11 (10 ) 53 (25 ) Derivative instruments (6 ) 4 (11 ) 9 Short term investments and other (1 ) Investment gains (losses) (a) $ 2 $ (3 ) $ 33 $ 6 (a) Gross investment gains on available-for-sale 28 37 64 106 available-for-sale 31 33 73 84 or the six months ended June 30, 2019 and 2018. $ 11 and $ 53 of Net investment gains were recognized due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2019. During the three and six months ended June 30, 2018, 10 25 of Net investment losses were recognized due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2018. The components of other-than-temporary impairment (“OTTI”) losses recognized in earnings by asset type are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 6 $ 12 $ 5 Asset-backed 8 1 Net OTTI losses recognized in earnings $ 6 $ - $ 20 $ 6 The amortized cost and fair values of fixed maturity securities are as follows: June 30, 2019 Cost or Gross Gross Estimated Unrealized (In millions) Fixed maturity securities: Corporate and other bonds $ 19,654 $ 1,880 $ 44 $ 21,490 States, municipalities and political subdivisions 9,196 1,507 10,703 Asset-backed: Residential mortgage-backed 4,668 131 2 4,797 $ (24 ) Commercial mortgage-backed 2,032 93 4 2,121 Other asset-backed 1,865 40 7 1,898 (2 ) Total asset-backed 8,565 264 13 8,816 (26 ) U.S. Treasury and obligations of government-sponsored enterprises 118 5 123 Foreign government 480 17 497 Redeemable preferred stock 10 10 Fixed maturities available-for-sale 38,023 3,673 57 41,639 (26 ) Fixed maturities trading 22 2 24 Total fixed maturity securities $ 38,045 $ 3,675 $ 57 $ 41,663 $ (26 ) December 31, 2018 Cost or Gross Gross Estimated Value Unrealized 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- 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 1.6 The available-for-sale Less than 12 Months 12 Months or Longer Total June 30, 2019 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities: Corporate and other bonds $ 776 $ 22 $ 498 $ 22 $ 1,274 $ 44 States, municipalities and political subdivisions 19 2 21 Asset-backed: Residential mortgage-backed 163 134 2 297 2 Commercial mortgage-backed 58 2 69 2 127 4 Other asset-backed 386 5 77 2 463 7 Total asset-backed 607 7 280 6 887 13 U.S. Treasury and obligations of government-sponsored 4 4 Foreign government 3 11 14 Total fixed maturity securities $ 1,405 $ 29 $ 795 $ 28 $ 2,200 $ 57 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 June 30, 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 June 30, 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 June 30, 2019 and 2018 for which a portion of an OTTI loss was recognized in OCI. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In millions) Beginning balance of credit losses on fixed maturity securities $ 17 $ 25 $ 18 $ 27 Reductions for securities sold during the period (1 ) (4 ) (2 ) (6 ) Ending balance of credit losses on fixed maturity securities $ 16 $ 21 $ 16 $ 21 Contractual Maturity The following table presents available-for-sale June 30, 2019 December 31, 2018 Cost or Estimated Cost or Estimated (In millions) Due in one year or less $ 1,018 $ 1,032 $ 1,350 $ 1,359 Due after one year through five years 8,097 8,476 7,979 8,139 Due after five years through ten years 16,403 17,297 16,859 16,870 Due after ten years 12,505 14,834 11,893 13,174 Total $ 38,023 $ 41,639 $ 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. June 30, 2019 December 31, 2018 Contractual/ Estimated Fair Value Contractual/ Estimated Fair Value Amount Asset (Liability) Amount Asset (Liability) (In millions) With hedge designation: Interest rate swaps $ 540 $ (9 ) $ 500 $ 11 Without hedge designation: Equity markets: Options – purchased 303 $ 5 213 18 – written 95 (3 ) 239 $ (17 ) Futures – short Commodity futures – long 11 32 Embedded derivative on funds withheld liability 172 (8 ) 172 4

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value	4. 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. June 30, 2019 Level 1 Level 2 Level 3 Total (In millions) Fixed maturity securities: Corporate bonds and other $ 152 $ 21,630 $ 338 $ 22,120 States, municipalities and political subdivisions 10,703 10,703 Asset-backed 8,623 193 8,816 Fixed maturities available-for-sale 152 40,956 531 41,639 Fixed maturities trading 20 4 24 Total fixed maturities $ 152 $ 40,976 $ 535 $ 41,663 Equity securities $ 715 $ 629 $ 23 $ 1,367 Short term and other 3,469 1,123 4,592 Payable to brokers (114 ) (9 ) (123 ) 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 and six months ended June 30, 2019 and 2018: Unrealized Gains (Losses) Unrealized Recognized in Net Realized Gains Other Investment Gains (Losses) Comprehensive (Losses) and Net Change Recognized in Income (Loss) in Unrealized Investment Net Income on Level 3 Gains (Losses) (Loss) on Level 3 Assets and Included in Transfers Transfers Assets and Liabilities Balance, Net Income Included in into out of Balance, Liabilities Held Held at 2019 April 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 at June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 253 $ 12 $ 76 $ (2 ) $ (1 ) $ 338 $ 10 Asset-backed 184 4 (4 ) $ 40 (31 ) 193 5 Fixed maturities available-for-sale 437 $ - 16 76 $ - (6 ) 40 (32 ) 531 $ - 15 Fixed maturities trading 5 (1 ) 4 (1 ) Total fixed maturities $ 442 $ (1 ) $ 16 $ 76 $ - $ (6 ) $ 40 $ (32 ) $ 535 $ (1 ) $ 15 Equity securities $ 21 $ 2 $ 23 Unrealized Gains Net Realized (Losses) Investment Gains Recognized in (Losses) and Net Change Net Income in Unrealized Investment (Loss) on Level Gains (Losses) 3 Assets and Included in Transfers Transfers Liabilities Balance, Net Income Included in into out of Balance, Held at 2018 April 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 100 $ (1 ) $ 2 $ (5 ) $ (2 ) $ 94 States, municipalities and political subdivisions 1 1 Asset-backed 279 (1 ) 41 (6 ) $ 13 $ (53 ) 273 Fixed maturities available-for-sale 380 $ - (2 ) 43 (5 ) (8 ) 13 (53 ) 368 $ - Fixed maturities trading 7 7 Total fixed maturities $ 387 $ - $ (2 ) $ 43 $ (5 ) $ (8 ) $ 13 $ (53 ) $ 375 $ - Equity securities $ 20 $ (1 ) $ (1 ) $ 18 $ (1 ) Unrealized Gains (Losses) Unrealized Recognized in Net Realized Gains (Losses) Other Investment Gains Recognized in Comprehensive (Losses) and Net Change Net Income Income (Loss) in Unrealized Investment (Loss) on Level on Level 3 Gains (Losses) 3 Assets and Assets and Included in Transfers Transfers Liabilities Liabilities Balance, Net Income Included in into out of Balance, Held at Held at 2019 January 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 222 $ 20 $ 132 $ (4 ) $ (32 ) $ 338 $ 17 Asset-backed 197 7 20 (8 ) $ 45 (68 ) 193 8 Fixed maturities available-for-sale 419 $ - 27 152 $ - (12 ) 45 (100 ) 531 $ - 25 Fixed maturities trading 6 (2 ) 4 (2 ) Total fixed maturities $ 425 $ (2 ) $ 27 $ 152 $ - $ (12 ) $ 45 $ (100 ) $ 535 $ (2 ) $ 25 Equity securities $ 19 $ 2 $ 2 $ 23 $ 3 Unrealized Gains Net Realized (Losses) Investment Gains Recognized in (Losses) and Net Change Net Income in Unrealized Investment (Loss) on Level Gains (Losses) 3 Assets and Included in Transfers Transfers Liabilities Balance, Net Income Included in into out of Balance, Held at 2018 January 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 98 $ (1 ) $ (1 ) $ 2 $ (5 ) $ (4 ) $ 5 $ 94 States, municipalities and political 1 1 Asset-backed 335 7 (6 ) 71 (72 ) (12 ) 13 $ (63 ) 273 Fixed maturities available-for-sale 434 6 (7 ) 73 (77 ) (16 ) 18 (63 ) 368 $ - Fixed maturities trading 4 3 7 3 Total fixed maturities $ 438 $ 9 $ (7 ) $ 73 $ (77 ) $ (16 ) $ 18 $ (63 ) $ 375 $ 3 Equity securities $ 22 $ (3 ) $ (1 ) $ 18 $ (3 ) 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, 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. June 30, 2019 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (In millions) Fixed maturity securities $ 381 Discounted cash flow Credit spread 1% – 5% (2% ) December 31, 2018 Fixed maturity securities $ 228 Discounted 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 June 30, 2019 Amount Level 1 Level 2 Level 3 Total (In millions) Assets: Other invested assets, primarily mortgage loans $ 916 $ 936 $ 936 Liabilities: Short term debt 85 $ 8 76 84 Long term debt 11,443 10,909 555 11,464 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	6 Months Ended
	Jun. 30, 2019
Insurance [Abstract]
Claim and Claim Adjustment Expense Reserves	5. Claim and Claim Adjustment Expense Reserves 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 38 96 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. Six Months Ended June 30 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 2,615 2,552 Increase (decrease) in provision for insured events of prior years (36 ) (112 ) Amortization of discount 98 92 Total net incurred (a) 2,677 2,532 Net payments attributable to: Current year events (315 ) (312 ) Prior year events (2,519 ) (2,387 ) Total net payments (2,834 ) (2,699 ) Foreign currency translation adjustment and other 55 (70 ) Net reserves, end of period 17,863 17,833 Ceded reserves, end of period 3,866 4,157 Gross reserves, end of period $ 21,729 $ 21,990 (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 $31 million and $59 million was recorded for CNA’s commercial property and casualty operations (“Property & Casualty Operations”) for the three months ended June 30, 2019 and 2018 and $45 million and $98 million for the six months ended June 30, 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 Six Months Ended 2019 2018 2019 2018 (In millions) Medical professional liability $ 15 $ 3 $ 30 $ 23 Other professional liability and management liability (7 ) (34 ) (19 ) (68 ) Surety (15 ) (15 ) (40 ) (30 ) Commercial auto (3 ) (8 ) (1 ) General liability 13 26 (7 ) 18 Workers’ compensation (7 ) (6 ) (5 ) (12 ) Other (27 ) (33 ) 4 (28 ) Total pretax (favorable) unfavorable development $ (31 ) $ (59 ) $ (45 ) $ (98 ) Three Months 2019 Unfavorable development in medical professional liability was primarily due to unfavorable outcomes on individual claims and higher than expected severity emergence in accident year 2017 in CNA’s dentists business. Favorable development in surety was due to lower than expected frequency for accident years 2015 and 2016. Unfavorable development in general liability was primarily due to higher than expected large loss experience in CNA’s excess and umbrella business in accident year 2017. Favorable development in other was primarily due to continued lower than expected claim severity in property from catastrophes in accident year 2017. 2018 Favorable development in other professional liability and management liability was primarily in professional liability errors and omissions (“E&O”) reflecting lower than expected claim frequency in accident years 2014 through 2016 and favorable severity for accident years 2012 and prior. Favorable development in surety was driven by continued lower than expected loss emergence on accident years 2015 and prior. Unfavorable development in general liability was driven by higher than expected claim severity in umbrella in accident years 2013 through 2015. Favorable development in other was driven by lower than expected claim severity in property from catastrophes in accident year 2017. Six Months 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, unfavorable outcomes on individual claims and higher than expected severity emergence in accident year 2017 in CNA’s dentists 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. 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 across multiple accident years. This was partially offset by unfavorable development due to higher than expected large loss experience in CNA’s excess and umbrella business in accident year 2017. 2018 Unfavorable development for 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 for accident years 2013 through 2017 related to financial institutions. Additional favorable development was in professional liability E&O reflecting lower than expected claims frequency in accident years 2014 through 2016 and favorable severity for accident years 2012 and prior. Favorable development for surety was due to continued lower than expected loss emergence for accident years 2015 and prior. Unfavorable development in general liability was driven by higher than expected claim severity in umbrella in accident years 2013 through 2015. Favorable development in other was driven by lower than expected claim severity in property from catastrophes in accident year 2017. 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 Six Months Ended 2019 2018 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 (14 ) (15 ) (36 ) (72 ) Pretax impact of deferred retroactive reinsurance $ (14 ) $ (15 ) $ (36 ) $ 25 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 six months ended June 30, 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 June 30, 2019 and December 31, 2018, the cumulative amounts ceded under the LPT were $ 3.1 338 NICO established a collateral trust account as security for its obligations to CNA. The fair value of the collateral trust account was $ 3.1

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	6. 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 $ 623 702 Operating lease cost was $ 29 59 4 8 2 4 30 59 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 June 30, 2019 Leases (In millions) 2019 (a) $ 53 2020 111 2021 108 2022 97 2023 86 Thereafter 421 Total 876 Less: discount 174 Total lease liabilities $ 702 (a) For the six-month 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 June 30, 2019 Weighted average remaining lease term 9.6 Years Weighted average discount rate 4.7 %

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	7. Debt CNA Financial In May of 2019, CNA completed a public offering of $500 million aggregate principal amount of its 3.9% senior notes due May 1, 2029 August 15, 2020 Boardwalk Pipelines In May of 2019, Boardwalk Pipelines completed a public offering of $500 million aggregate principal amount of its 4.8% senior notes due May 3, 2029 2019 Consolidated Container In June of 2019, Consolidated Container entered into a credit agreement providing for a $250 million term loan in conjunction with the acquisitions discussed in Note 2. London Interbank Offered Rate (“LIBOR”) plus an applicable margin of 3.5 June 14, 2026

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Shareholders' Equity	8. Shareholders’ Equity Accumulated other comprehensive income (loss) The tables below present the changes in AOCI by component for the three and six months ended June 30, 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, April 1, 2018 $ 18 $ 386 $ 10 $ (753 ) $ (78 ) $ (417 ) Other comprehensive income (loss) before reclassifications, after tax of $1, $45, $0, $0 and $0 (1 ) (156 ) 4 (52 ) (205 ) Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $1, $0, $(2) and $0 (3 ) 9 6 Other comprehensive income (loss) (1 ) (159 ) 4 9 (52 ) (199 ) Amounts attributable to noncontrolling interests 17 (2 ) 5 20 Purchase of Boardwalk Pipelines common units (1 ) (28 ) (29 ) Balance, June 30, 2018 $ 17 $ 244 $ 13 $ (774 ) $ (125 ) $ (625 ) Balance, April 1, 2019 $ 18 $ 527 $ (1 ) $ (786 ) $ (148 ) $ (390 ) Other comprehensive income (loss) before reclassifications, after tax of (1) 114) 2 0 0 (1 ) 434 (6 ) 3 430 Reclassification of losses from accumulated other comprehensive income, after tax of $ 0 0 0 3) 0 1 2 7 10 Other comprehensive income (loss) — 436 (6 ) 7 3 440 Amounts attributable to noncontrolling interests (46 ) (1 ) (47 ) Balance, June 30, 2019 $ 18 $ 917 $ (7 ) $ (780 ) $ (145 ) $ 3 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 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 adjustment 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 $3, $150, $(2), $0 and $0 (11 ) (570 ) 12 (41 ) (610 ) Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $5, $0, $(5) and $0 1 (18 ) 2 19 4 Other comprehensive income (loss) (10 ) (588 ) 14 19 (41 ) (606 ) Amounts attributable to noncontrolling interests 1 61 (2 ) 4 64 Purchase of Boardwalk Pipelines common units (1 ) (28 ) (29 ) Balance, June 30, 2018 $ 17 $ 244 $ 13 $ (774 ) $ (125 ) $ (625 ) Balance, January 1, 2019 $ 14 $ 57 $ 5 $ (793 ) $ (163 ) $ (880 ) Other comprehensive income (loss) before reclassifications, after tax of $(2), $( 254) 4 0 0 3 955 (12 ) (1 ) 20 965 Re classification comprehensive incom 0 (1) 0 (5) 0 1 7 16 24 Other comprehensive income (loss) 4 962 (12 ) 15 20 989 Amounts attributable to noncontrolling interests (102 ) (2 ) (2 ) (106 ) Balance, June 30, 2019 $ 18 $ 917 $ (7 ) $ (780 ) $ (145 ) $ 3 Treasury Stock The Company repurchased 9.8 15.6 473 788

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	9. Revenue from Contracts with Customers Disaggregation of revenues Non-insurance Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In millions) Non-insurance $ 285 $ 248 $ 566 $ 486 Contract drilling – Diamond Offshore 216 268 450 564 Transportation and storage of natural gas and NGLs and other services – Boardwalk 321 281 660 612 Lodging and related services – Loews Hotels & Co 185 200 365 383 Rigid plastic packaging and recycled resin – Corporate 223 216 437 429 Total revenues from contracts with customers 945 965 1,912 1,988 Other revenues 16 14 34 34 Operating revenues and other $ 961 $ 979 $ 1,946 $ 2,022 Receivables from contracts with customers 400 434 Deferred revenue 3.7 3.5 non-insurance 533 473 Performance obligations non-insurance

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
Benefit Plans	10. Benefit Plans The Company and its subsidiaries have several non-contributory The following table presents the components of net periodic (benefit) cost for the plans: Pension Benefits Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In millions) Service cost $ 1 $ 2 $ 3 $ 4 Interest cost 30 28 59 55 Expected return on plan assets (40 ) (45 ) (80 ) (90 ) Amortization of unrecognized net loss 12 10 23 21 Settlement charge 2 3 2 7 Net periodic (benefit) cost $ 5 $ (2 ) $ 7 $ (3 ) Other Postretirement Benefits Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In millions) Interest cost $ 1 $ 1 Expected return on plan assets $ (1 ) $ (1 ) (2 ) (2 ) Amortization of unrecognized prior service benefit (1 ) Net periodic benefit $ (1 ) $ (1 ) $ (1 ) $ (2 )

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	11. Legal Proceedings 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 Pipelines, 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 Pipelines 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 Pipelines pursuant to Boardwalk 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 Pipelines 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. In July of 2019, the Court held a hearing on the motion to dismiss and has taken the issue under advisement. 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	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies CNA Guarantees In the course of selling business entities and assets to third parties, CNA indemnified purchasers for certain losses, some of which are not limited by a contractual monetary amount. As of June 30, 2019, CNA had outstanding unlimited indemnifications 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 June 30, 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	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segments	13. Segments The Company has five four 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. Three Months Ended June 30, 2019 CNA Diamond Boardwalk Loews Corporate Total (In millions) Revenues: Insurance premiums $ 1,824 $ 1,824 Net investment income 515 $ 2 $ 1 $ 33 551 Investment gains 2 2 Non-insurance warranty revenue 285 285 Operating revenues and other 4 222 $ 327 185 223 961 Total 2,630 224 327 186 256 3,623 Expenses: Insurance claims and policyholders’ benefits 1,352 1,352 Amortization of deferred acquisition costs 338 338 Non-insurance warranty expense 263 263 Operating expenses and other 279 335 209 163 245 1,231 Interest 55 31 46 5 27 164 Total 2,287 366 255 168 272 3,348 Income (loss) before income tax 343 (142 ) 72 18 (16 ) 275 Income tax (expense) benefit (64 ) 36 (19 ) (6 ) 3 (50 ) Net income (loss) 279 (106 ) 53 12 (13 ) 225 Amounts attributable to noncontrolling interests (30 ) 54 24 Net income (loss) attributable to Loews Corporation $ 249 $ (52 ) $ 53 $ 12 $ (13 ) $ 249 Three Months Ended June 30, 2018 CNA Financial Diamond Offshore Boardwalk Pipelines Loews Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 1,815 $ 1,815 Net investment income 506 $ 2 $ 1 $ 42 551 Investment losses (3 ) (3 ) Non-insurance 248 248 Operating revenues and other 8 269 $ 285 200 217 979 Total 2,574 271 285 201 259 3,590 Expenses: Insurance claims and policyholders’ benefits 1,327 1,327 Amortization of deferred acquisition costs 359 359 Non-insurance 225 225 Operating expenses and other 299 320 203 169 238 1,229 Interest 35 30 43 8 27 143 Total 2,245 350 246 177 265 3,283 Income (loss) before income tax 329 (79 ) 39 24 (6 ) 307 Income tax (expense) benefit (60 ) 10 (2 ) (7 ) (59 ) Net income (loss) 269 (69 ) 37 17 (6 ) 248 Amounts attributable to noncontrolling interests (29 ) 32 (21 ) (18 ) Net income (loss) attributable to Loews Corporation $ 240 $ (37 ) $ 16 $ 17 $ (6 ) $ 230 Six Months Ended June 30, 2019 CNA Diamond Boardwalk Loews Corporate Total (In millions) Revenues: Insurance premiums $ 3,627 $ 3,627 Net investment income 1,086 $ 4 $ 1 $ 117 1,208 Investment gains 33 33 Non-insurance warranty revenue 566 566 Operating revenues and other 13 456 $ 673 365 439 1,946 Total 5,325 460 673 366 556 7,380 Expenses: Insurance claims and policyholders’ benefits 2,709 2,709 Amortization of deferred acquisition costs 680 680 Non-insurance warranty expense 523 523 Operating expenses and other 563 618 404 319 476 2,380 Interest 89 61 91 10 54 305 Total 4,564 679 495 329 530 6,597 Income (loss) before income tax 761 (219 ) 178 37 26 783 Income tax (expense) benefit (141 ) 42 (46 ) (12 ) (5 ) (162 ) Net income (loss) 620 (177 ) 132 25 21 621 Amounts attributable to noncontrolling interests (66 ) 88 22 Net income (loss) attributable to Loews Corporation $ 554 $ (89 ) $ 132 $ 25 $ 21 $ 643 Six Months Ended June 30, 2018 CNA Financial Diamond Offshore Boardwalk Pipelines Loews Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 3,600 $ 3,600 Net investment income 996 $ 4 $ 1 $ 56 1,057 Investment gains 6 6 Non-insurance 486 486 Operating revenues and other 21 566 $ 622 383 430 2,022 Total 5,109 570 622 384 486 7,171 Expenses: Insurance claims and policyholders’ benefits 2,666 2,666 Amortization of deferred acquisition costs 655 655 Non-insurance 441 441 Operating expenses and other 601 616 401 325 470 2,413 Interest 70 58 87 15 54 284 Total 4,433 674 488 340 524 6,459 Income (loss) before income tax 676 (104 ) 134 44 (38 ) 712 Income tax (expense) benefit (115 ) 54 (14 ) (14 ) 5 (84 ) Net income (loss) 561 (50 ) 120 30 (33 ) 628 Amounts attributable to noncontrolling interests (60 ) 23 (68 ) (105 ) Net income (loss) attributable to Loews Corporation $ 501 $ (27 ) $ 52 $ 30 $ (33 ) $ 523

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Net Investment Income	Net investment income is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 (In millions) Fixed maturity securities $ 455 $ 444 $ 910 $ 890 Limited partnership investments 43 60 124 108 Short term investments 14 11 29 20 Equity securities 16 12 46 22 Income from trading portfolio (a) 29 23 110 20 Other 12 17 26 28 Total investment income 569 567 1,245 1,088 Investment expenses (18 ) (16 ) (37 ) (31 ) Net investment income $ 551 $ 551 $ 1,208 $ 1,057 (a) Net unrealized gains (losses) related to changes in fair value on securities still held were $ 8 48 (25
Summary of Investment Gains (Losses)	Investment gains (losses) are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 (In millions) Fixed maturity securities $ (3 ) $ 4 $ (9 ) $ 22 Equity securities 11 (10 ) 53 (25 ) Derivative instruments (6 ) 4 (11 ) 9 Short term investments and other (1 ) Investment gains (losses) (a) $ 2 $ (3 ) $ 33 $ 6 (a) Gross investment gains on available-for-sale 28 37 64 106 available-for-sale 31 33 73 84 or the six months ended June 30, 2019 and 2018. $ 11 and $ 53 of Net investment gains were recognized due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2019. During the three and six months ended June 30, 2018, 10 25 of Net investment losses were recognized due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2018.
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 Six Months Ended 2019 2018 2019 2018 (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 6 $ 12 $ 5 Asset-backed 8 1 Net OTTI losses recognized in earnings $ 6 $ - $ 20 $ 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: June 30, 2019 Cost or Gross Gross Estimated Unrealized (In millions) Fixed maturity securities: Corporate and other bonds $ 19,654 $ 1,880 $ 44 $ 21,490 States, municipalities and political subdivisions 9,196 1,507 10,703 Asset-backed: Residential mortgage-backed 4,668 131 2 4,797 $ (24 ) Commercial mortgage-backed 2,032 93 4 2,121 Other asset-backed 1,865 40 7 1,898 (2 ) Total asset-backed 8,565 264 13 8,816 (26 ) U.S. Treasury and obligations of government-sponsored enterprises 118 5 123 Foreign government 480 17 497 Redeemable preferred stock 10 10 Fixed maturities available-for-sale 38,023 3,673 57 41,639 (26 ) Fixed maturities trading 22 2 24 Total fixed maturity securities $ 38,045 $ 3,675 $ 57 $ 41,663 $ (26 ) December 31, 2018 Cost or Gross Gross Estimated Value Unrealized 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- 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 June 30, 2019 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities: Corporate and other bonds $ 776 $ 22 $ 498 $ 22 $ 1,274 $ 44 States, municipalities and political subdivisions 19 2 21 Asset-backed: Residential mortgage-backed 163 134 2 297 2 Commercial mortgage-backed 58 2 69 2 127 4 Other asset-backed 386 5 77 2 463 7 Total asset-backed 607 7 280 6 887 13 U.S. Treasury and obligations of government-sponsored 4 4 Foreign government 3 11 14 Total fixed maturity securities $ 1,405 $ 29 $ 795 $ 28 $ 2,200 $ 57 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 June 30, 2019 and 2018 for which a portion of an OTTI loss was recognized in OCI. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In millions) Beginning balance of credit losses on fixed maturity securities $ 17 $ 25 $ 18 $ 27 Reductions for securities sold during the period (1 ) (4 ) (2 ) (6 ) Ending balance of credit losses on fixed maturity securities $ 16 $ 21 $ 16 $ 21
Available-for-Sale Fixed Maturity Securities by Contractual Maturity	The following table presents available-for-sale June 30, 2019 December 31, 2018 Cost or Estimated Cost or Estimated (In millions) Due in one year or less $ 1,018 $ 1,032 $ 1,350 $ 1,359 Due after one year through five years 8,097 8,476 7,979 8,139 Due after five years through ten years 16,403 17,297 16,859 16,870 Due after ten years 12,505 14,834 11,893 13,174 Total $ 38,023 $ 41,639 $ 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. June 30, 2019 December 31, 2018 Contractual/ Estimated Fair Value Contractual/ Estimated Fair Value Amount Asset (Liability) Amount Asset (Liability) (In millions) With hedge designation: Interest rate swaps $ 540 $ (9 ) $ 500 $ 11 Without hedge designation: Equity markets: Options – purchased 303 $ 5 213 18 – written 95 (3 ) 239 $ (17 ) Futures – short Commodity futures – long 11 32 Embedded derivative on funds withheld liability 172 (8 ) 172 4

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 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. June 30, 2019 Level 1 Level 2 Level 3 Total (In millions) Fixed maturity securities: Corporate bonds and other $ 152 $ 21,630 $ 338 $ 22,120 States, municipalities and political subdivisions 10,703 10,703 Asset-backed 8,623 193 8,816 Fixed maturities available-for-sale 152 40,956 531 41,639 Fixed maturities trading 20 4 24 Total fixed maturities $ 152 $ 40,976 $ 535 $ 41,663 Equity securities $ 715 $ 629 $ 23 $ 1,367 Short term and other 3,469 1,123 4,592 Payable to brokers (114 ) (9 ) (123 ) 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 and six months ended June 30, 2019 and 2018: Unrealized Gains (Losses) Unrealized Recognized in Net Realized Gains Other Investment Gains (Losses) Comprehensive (Losses) and Net Change Recognized in Income (Loss) in Unrealized Investment Net Income on Level 3 Gains (Losses) (Loss) on Level 3 Assets and Included in Transfers Transfers Assets and Liabilities Balance, Net Income Included in into out of Balance, Liabilities Held Held at 2019 April 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 at June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 253 $ 12 $ 76 $ (2 ) $ (1 ) $ 338 $ 10 Asset-backed 184 4 (4 ) $ 40 (31 ) 193 5 Fixed maturities available-for-sale 437 $ - 16 76 $ - (6 ) 40 (32 ) 531 $ - 15 Fixed maturities trading 5 (1 ) 4 (1 ) Total fixed maturities $ 442 $ (1 ) $ 16 $ 76 $ - $ (6 ) $ 40 $ (32 ) $ 535 $ (1 ) $ 15 Equity securities $ 21 $ 2 $ 23 Unrealized Gains Net Realized (Losses) Investment Gains Recognized in (Losses) and Net Change Net Income in Unrealized Investment (Loss) on Level Gains (Losses) 3 Assets and Included in Transfers Transfers Liabilities Balance, Net Income Included in into out of Balance, Held at 2018 April 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 100 $ (1 ) $ 2 $ (5 ) $ (2 ) $ 94 States, municipalities and political subdivisions 1 1 Asset-backed 279 (1 ) 41 (6 ) $ 13 $ (53 ) 273 Fixed maturities available-for-sale 380 $ - (2 ) 43 (5 ) (8 ) 13 (53 ) 368 $ - Fixed maturities trading 7 7 Total fixed maturities $ 387 $ - $ (2 ) $ 43 $ (5 ) $ (8 ) $ 13 $ (53 ) $ 375 $ - Equity securities $ 20 $ (1 ) $ (1 ) $ 18 $ (1 ) Unrealized Gains (Losses) Unrealized Recognized in Net Realized Gains (Losses) Other Investment Gains Recognized in Comprehensive (Losses) and Net Change Net Income Income (Loss) in Unrealized Investment (Loss) on Level on Level 3 Gains (Losses) 3 Assets and Assets and Included in Transfers Transfers Liabilities Liabilities Balance, Net Income Included in into out of Balance, Held at Held at 2019 January 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 222 $ 20 $ 132 $ (4 ) $ (32 ) $ 338 $ 17 Asset-backed 197 7 20 (8 ) $ 45 (68 ) 193 8 Fixed maturities available-for-sale 419 $ - 27 152 $ - (12 ) 45 (100 ) 531 $ - 25 Fixed maturities trading 6 (2 ) 4 (2 ) Total fixed maturities $ 425 $ (2 ) $ 27 $ 152 $ - $ (12 ) $ 45 $ (100 ) $ 535 $ (2 ) $ 25 Equity securities $ 19 $ 2 $ 2 $ 23 $ 3 Unrealized Gains Net Realized (Losses) Investment Gains Recognized in (Losses) and Net Change Net Income in Unrealized Investment (Loss) on Level Gains (Losses) 3 Assets and Included in Transfers Transfers Liabilities Balance, Net Income Included in into out of Balance, Held at 2018 January 1 (Loss) OCI Purchases Sales Settlements Level 3 Level 3 June 30 June 30 (In millions) Fixed maturity securities: Corporate bonds and other $ 98 $ (1 ) $ (1 ) $ 2 $ (5 ) $ (4 ) $ 5 $ 94 States, municipalities and political 1 1 Asset-backed 335 7 (6 ) 71 (72 ) (12 ) 13 $ (63 ) 273 Fixed maturities available-for-sale 434 6 (7 ) 73 (77 ) (16 ) 18 (63 ) 368 $ - Fixed maturities trading 4 3 7 3 Total fixed maturities $ 438 $ 9 $ (7 ) $ 73 $ (77 ) $ (16 ) $ 18 $ (63 ) $ 375 $ 3 Equity securities $ 22 $ (3 ) $ (1 ) $ 18 $ (3 ) 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. June 30, 2019 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (In millions) Fixed maturity securities $ 381 Discounted cash flow Credit spread 1% – 5% (2% ) December 31, 2018 Fixed maturity securities $ 228 Discounted 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 June 30, 2019 Amount Level 1 Level 2 Level 3 Total (In millions) Assets: Other invested assets, primarily mortgage loans $ 916 $ 936 $ 936 Liabilities: Short term debt 85 $ 8 76 84 Long term debt 11,443 10,909 555 11,464 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)	6 Months Ended
	Jun. 30, 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. Six Months Ended June 30 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 2,615 2,552 Increase (decrease) in provision for insured events of prior years (36 ) (112 ) Amortization of discount 98 92 Total net incurred (a) 2,677 2,532 Net payments attributable to: Current year events (315 ) (312 ) Prior year events (2,519 ) (2,387 ) Total net payments (2,834 ) (2,699 ) Foreign currency translation adjustment and other 55 (70 ) Net reserves, end of period 17,863 17,833 Ceded reserves, end of period 3,866 4,157 Gross reserves, end of period $ 21,729 $ 21,990 (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 Six Months Ended 2019 2018 2019 2018 (In millions) Medical professional liability $ 15 $ 3 $ 30 $ 23 Other professional liability and management liability (7 ) (34 ) (19 ) (68 ) Surety (15 ) (15 ) (40 ) (30 ) Commercial auto (3 ) (8 ) (1 ) General liability 13 26 (7 ) 18 Workers’ compensation (7 ) (6 ) (5 ) (12 ) Other (27 ) (33 ) 4 (28 ) Total pretax (favorable) unfavorable development $ (31 ) $ (59 ) $ (45 ) $ (98 )
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 Six Months Ended 2019 2018 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 (14 ) (15 ) (36 ) (72 ) Pretax impact of deferred retroactive reinsurance $ (14 ) $ (15 ) $ (36 ) $ 25

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 Leases (In millions) 2019 (a) $ 53 2020 111 2021 108 2022 97 2023 86 Thereafter 421 Total 876 Less: discount 174 Total lease liabilities $ 702 (a) For the six-month
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 June 30, 2019 Weighted average remaining lease term 9.6 Years Weighted average discount rate 4.7 %

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	The tables below present the changes in AOCI by component for the three and six months ended June 30, 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, April 1, 2018 $ 18 $ 386 $ 10 $ (753 ) $ (78 ) $ (417 ) Other comprehensive income (loss) before reclassifications, after tax of $1, $45, $0, $0 and $0 (1 ) (156 ) 4 (52 ) (205 ) Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $1, $0, $(2) and $0 (3 ) 9 6 Other comprehensive income (loss) (1 ) (159 ) 4 9 (52 ) (199 ) Amounts attributable to noncontrolling interests 17 (2 ) 5 20 Purchase of Boardwalk Pipelines common units (1 ) (28 ) (29 ) Balance, June 30, 2018 $ 17 $ 244 $ 13 $ (774 ) $ (125 ) $ (625 ) Balance, April 1, 2019 $ 18 $ 527 $ (1 ) $ (786 ) $ (148 ) $ (390 ) Other comprehensive income (loss) before reclassifications, after tax of (1) 114) 2 0 0 (1 ) 434 (6 ) 3 430 Reclassification of losses from accumulated other comprehensive income, after tax of $ 0 0 0 3) 0 1 2 7 10 Other comprehensive income (loss) — 436 (6 ) 7 3 440 Amounts attributable to noncontrolling interests (46 ) (1 ) (47 ) Balance, June 30, 2019 $ 18 $ 917 $ (7 ) $ (780 ) $ (145 ) $ 3 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 adjustment 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 $3, $150, $(2), $0 and $0 (11 ) (570 ) 12 (41 ) (610 ) Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $5, $0, $(5) and $0 1 (18 ) 2 19 4 Other comprehensive income (loss) (10 ) (588 ) 14 19 (41 ) (606 ) Amounts attributable to noncontrolling interests 1 61 (2 ) 4 64 Purchase of Boardwalk Pipelines common units (1 ) (28 ) (29 ) Balance, June 30, 2018 $ 17 $ 244 $ 13 $ (774 ) $ (125 ) $ (625 ) Balance, January 1, 2019 $ 14 $ 57 $ 5 $ (793 ) $ (163 ) $ (880 ) Other comprehensive income (loss) before reclassifications, after tax of $(2), $( 254) 4 0 0 3 955 (12 ) (1 ) 20 965 Re classification comprehensive incom 0 (1) 0 (5) 0 1 7 16 24 Other comprehensive income (loss) 4 962 (12 ) 15 20 989 Amounts attributable to noncontrolling interests (102 ) (2 ) (2 ) (106 ) Balance, June 30, 2019 $ 18 $ 917 $ (7 ) $ (780 ) $ (145 ) $ 3

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 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 13: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In millions) Non-insurance $ 285 $ 248 $ 566 $ 486 Contract drilling – Diamond Offshore 216 268 450 564 Transportation and storage of natural gas and NGLs and other services – Boardwalk 321 281 660 612 Lodging and related services – Loews Hotels & Co 185 200 365 383 Rigid plastic packaging and recycled resin – Corporate 223 216 437 429 Total revenues from contracts with customers 945 965 1,912 1,988 Other revenues 16 14 34 34 Operating revenues and other $ 961 $ 979 $ 1,946 $ 2,022

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 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 Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In millions) Service cost $ 1 $ 2 $ 3 $ 4 Interest cost 30 28 59 55 Expected return on plan assets (40 ) (45 ) (80 ) (90 ) Amortization of unrecognized net loss 12 10 23 21 Settlement charge 2 3 2 7 Net periodic (benefit) cost $ 5 $ (2 ) $ 7 $ (3 ) Other Postretirement Benefits Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In millions) Interest cost $ 1 $ 1 Expected return on plan assets $ (1 ) $ (1 ) (2 ) (2 ) Amortization of unrecognized prior service benefit (1 ) Net periodic benefit $ (1 ) $ (1 ) $ (1 ) $ (2 )

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Consolidating Statement of Income and Total Assets by Segment	Statements of Income by segment are presented in the following tables. Three Months Ended June 30, 2019 CNA Diamond Boardwalk Loews Corporate Total (In millions) Revenues: Insurance premiums $ 1,824 $ 1,824 Net investment income 515 $ 2 $ 1 $ 33 551 Investment gains 2 2 Non-insurance warranty revenue 285 285 Operating revenues and other 4 222 $ 327 185 223 961 Total 2,630 224 327 186 256 3,623 Expenses: Insurance claims and policyholders’ benefits 1,352 1,352 Amortization of deferred acquisition costs 338 338 Non-insurance warranty expense 263 263 Operating expenses and other 279 335 209 163 245 1,231 Interest 55 31 46 5 27 164 Total 2,287 366 255 168 272 3,348 Income (loss) before income tax 343 (142 ) 72 18 (16 ) 275 Income tax (expense) benefit (64 ) 36 (19 ) (6 ) 3 (50 ) Net income (loss) 279 (106 ) 53 12 (13 ) 225 Amounts attributable to noncontrolling interests (30 ) 54 24 Net income (loss) attributable to Loews Corporation $ 249 $ (52 ) $ 53 $ 12 $ (13 ) $ 249 Three Months Ended June 30, 2018 CNA Financial Diamond Offshore Boardwalk Pipelines Loews Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 1,815 $ 1,815 Net investment income 506 $ 2 $ 1 $ 42 551 Investment losses (3 ) (3 ) Non-insurance 248 248 Operating revenues and other 8 269 $ 285 200 217 979 Total 2,574 271 285 201 259 3,590 Expenses: Insurance claims and policyholders’ benefits 1,327 1,327 Amortization of deferred acquisition costs 359 359 Non-insurance 225 225 Operating expenses and other 299 320 203 169 238 1,229 Interest 35 30 43 8 27 143 Total 2,245 350 246 177 265 3,283 Income (loss) before income tax 329 (79 ) 39 24 (6 ) 307 Income tax (expense) benefit (60 ) 10 (2 ) (7 ) (59 ) Net income (loss) 269 (69 ) 37 17 (6 ) 248 Amounts attributable to noncontrolling interests (29 ) 32 (21 ) (18 ) Net income (loss) attributable to Loews Corporation $ 240 $ (37 ) $ 16 $ 17 $ (6 ) $ 230 Six Months Ended June 30, 2019 CNA Diamond Boardwalk Loews Corporate Total (In millions) Revenues: Insurance premiums $ 3,627 $ 3,627 Net investment income 1,086 $ 4 $ 1 $ 117 1,208 Investment gains 33 33 Non-insurance warranty revenue 566 566 Operating revenues and other 13 456 $ 673 365 439 1,946 Total 5,325 460 673 366 556 7,380 Expenses: Insurance claims and policyholders’ benefits 2,709 2,709 Amortization of deferred acquisition costs 680 680 Non-insurance warranty expense 523 523 Operating expenses and other 563 618 404 319 476 2,380 Interest 89 61 91 10 54 305 Total 4,564 679 495 329 530 6,597 Income (loss) before income tax 761 (219 ) 178 37 26 783 Income tax (expense) benefit (141 ) 42 (46 ) (12 ) (5 ) (162 ) Net income (loss) 620 (177 ) 132 25 21 621 Amounts attributable to noncontrolling interests (66 ) 88 22 Net income (loss) attributable to Loews Corporation $ 554 $ (89 ) $ 132 $ 25 $ 21 $ 643 Six Months Ended June 30, 2018 CNA Financial Diamond Offshore Boardwalk Pipelines Loews Hotels & Co Corporate Total (In millions) Revenues: Insurance premiums $ 3,600 $ 3,600 Net investment income 996 $ 4 $ 1 $ 56 1,057 Investment gains 6 6 Non-insurance 486 486 Operating revenues and other 21 566 $ 622 383 430 2,022 Total 5,109 570 622 384 486 7,171 Expenses: Insurance claims and policyholders’ benefits 2,666 2,666 Amortization of deferred acquisition costs 655 655 Non-insurance 441 441 Operating expenses and other 601 616 401 325 470 2,413 Interest 70 58 87 15 54 284 Total 4,433 674 488 340 524 6,459 Income (loss) before income tax 676 (104 ) 134 44 (38 ) 712 Income tax (expense) benefit (115 ) 54 (14 ) (14 ) 5 (84 ) Net income (loss) 561 (50 ) 120 30 (33 ) 628 Amounts attributable to noncontrolling interests (60 ) 23 (68 ) (105 ) Net income (loss) attributable to Loews Corporation $ 501 $ (27 ) $ 52 $ 30 $ (33 ) $ 523

Basis of presentation - Additio

Basis of presentation - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Other assets	$ 3,313		$ 2,443
Other liabilities	$ 5,028		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

Acquisitions and Divestiture -

Acquisitions and Divestiture - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	May 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Estimated goodwill recognized		$ 768	$ 665
Loews Hotels And Co [Member]
Proceeds from sale of hotels	$ 127
Plastic Packaging Manufacturers Business Acquisition [Member]
Payments for acquisition		260
Consolidated Container [Member]
Debt financing proceeds		250
Consolidated Container [Member] | Plastic Packaging Manufacturers Business Acquisition [Member]
Estimated goodwill recognized		102
Consolidated Container [Member] | Plastic Packaging Manufacturers Business Acquisition [Member] | Customer Relationships [Member]
Estimated intangible assets recognized		$ 89

Investments - Net Investment In

Investments - Net Investment Income and Investment Gains (Losses) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net Investment Income [Line Items]
Total investment income	$ 569	$ 567	$ 1,245	$ 1,088
Investment expenses	(18)	(16)	(37)	(31)
Investment gains (losses)	2	(3)	33	6
Net investment income	551	551	1,208	1,057
Fixed Maturity Securities [Member]
Net Investment Income [Line Items]
Total investment income	455	444	910	890
Investment gains (losses)	(3)	4	(9)	22
Limited Partnership Investments [Member]
Net Investment Income [Line Items]
Total investment income	43	60	124	108
Short Term and Other [Member]
Net Investment Income [Line Items]
Total investment income	14	11	29	20
Investment gains (losses)		(1)
Equity Securities [Member]
Net Investment Income [Line Items]
Total investment income	16	12	46	22
Investment gains (losses)	11	(10)	53	(25)
Income From Trading Portfolio [Member]
Net Investment Income [Line Items]
Total investment income	29	23	110	20
Other [Member]
Net Investment Income [Line Items]
Total investment income	12	17	26	28
Derivative Instruments [Member]
Net Investment Income [Line Items]
Investment gains (losses)	$ (6)	$ 4	$ (11)	$ 9

Investments - Net Investment _2

Investments - Net Investment Income and Investment Gains (Losses) (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net Investment Income [Line Items]
Net unrealized gains (losses) on trading securities	$ 8	$ (4)	$ 48	$ (25)
Fixed Maturity Securities [Member]
Net Investment Income [Line Items]
Gross realized gains on available-for-sale securities	28	37	64	106
Gross realized losses on available-for-sale securities	31	33	73	84
Fixed Maturity Securities [Member] | Nonredeemable Preferred Stock [Member]
Net Investment Income [Line Items]
Net realized gains (losses) on trading securities	$ 11	$ 10	$ 53	$ 25

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Shadow Adjustments	$ 1,600	$ 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	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Net OTTI losses recognized in earnings	$ 6	$ 20	$ 6
Corporate Bonds and Other [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Net OTTI losses recognized in earnings	$ 6	12	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	Jun. 30, 2019	Dec. 31, 2018
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	$ 38,045	$ 38,234
Gross Unrealized Gains	3,675	1,986
Gross Unrealized Losses	57	521
Estimated Fair Value	41,663	39,699
Unrealized OTTI Losses (Gains)	(26)	(20)
Corporate Bonds and Other [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	19,654	18,764
Gross Unrealized Gains	1,880	791
Gross Unrealized Losses	44	395
Estimated Fair Value	21,490	19,160
States, Municipalities and Political Subdivisions [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	9,196	9,681
Gross Unrealized Gains	1,507	1,076
Gross Unrealized Losses		9
Estimated Fair Value	10,703	10,748
Residential Mortgage-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	4,668	4,815
Gross Unrealized Gains	131	68
Gross Unrealized Losses	2	57
Estimated Fair Value	4,797	4,826
Unrealized OTTI Losses (Gains)	(24)	(20)
Commercial Mortgage-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	2,032	2,200
Gross Unrealized Gains	93	28
Gross Unrealized Losses	4	32
Estimated Fair Value	2,121	2,196
Other Asset-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	1,865	1,975
Gross Unrealized Gains	40	11
Gross Unrealized Losses	7	24
Estimated Fair Value	1,898	1,962
Unrealized OTTI Losses (Gains)	(2)
Total Asset-Backed [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	8,565	8,990
Gross Unrealized Gains	264	107
Gross Unrealized Losses	13	113
Estimated Fair Value	8,816	8,984
Unrealized OTTI Losses (Gains)	(26)	(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	118	156
Gross Unrealized Gains	5	3
Estimated Fair Value	123	159
Foreign Government [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	480	480
Gross Unrealized Gains	17	5
Gross Unrealized Losses		4
Estimated Fair Value	497	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	38,023	38,081
Gross Unrealized Gains	3,673	1,982
Gross Unrealized Losses	57	521
Estimated Fair Value	41,639	39,542
Unrealized OTTI Losses (Gains)	(26)	(20)
Fixed Maturities Trading [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cost or Amortized Cost	22	153
Gross Unrealized Gains	2	4
Estimated Fair Value	$ 24	$ 157

Investments - Securities Availa

Investments - Securities Available-for-Sale in Gross Unrealized Loss Position (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Corporate Bonds and Other [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	$ 776	$ 8,543
Gross Unrealized Losses, Less than 12 Months	22	340
Estimated Fair Value, 12 Months or Longer	498	825
Gross Unrealized Losses, 12 Months or Longer	22	55
Total Estimated Fair Value	1,274	9,368
Total Gross Unrealized Losses	44	395
States, Municipalities and Political Subdivisions [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	19	517
Gross Unrealized Losses, Less than 12 Months		8
Estimated Fair Value, 12 Months or Longer	2	5
Gross Unrealized Losses, 12 Months or Longer		1
Total Estimated Fair Value	21	522
Total Gross Unrealized Losses		9
Residential Mortgage-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	163	1,932
Gross Unrealized Losses, Less than 12 Months		23
Estimated Fair Value, 12 Months or Longer	134	1,119
Gross Unrealized Losses, 12 Months or Longer	2	34
Total Estimated Fair Value	297	3,051
Total Gross Unrealized Losses	2	57
Commercial Mortgage-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	58	728
Gross Unrealized Losses, Less than 12 Months	2	10
Estimated Fair Value, 12 Months or Longer	69	397
Gross Unrealized Losses, 12 Months or Longer	2	22
Total Estimated Fair Value	127	1,125
Total Gross Unrealized Losses	4	32
Other Asset-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	386	834
Gross Unrealized Losses, Less than 12 Months	5	21
Estimated Fair Value, 12 Months or Longer	77	125
Gross Unrealized Losses, 12 Months or Longer	2	3
Total Estimated Fair Value	463	959
Total Gross Unrealized Losses	7	24
Total Asset-Backed [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	607	3,494
Gross Unrealized Losses, Less than 12 Months	7	54
Estimated Fair Value, 12 Months or Longer	280	1,641
Gross Unrealized Losses, 12 Months or Longer	6	59
Total Estimated Fair Value	887	5,135
Total Gross Unrealized Losses	13	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		21
Estimated Fair Value, 12 Months or Longer	4	19
Total Estimated Fair Value	4	40
Foreign Government [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	3	114
Gross Unrealized Losses, Less than 12 Months		2
Estimated Fair Value, 12 Months or Longer	11	124
Gross Unrealized Losses, 12 Months or Longer		2
Total Estimated Fair Value	14	238
Total Gross Unrealized Losses		4
Fixed Maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 Months	1,405	12,689
Gross Unrealized Losses, Less than 12 Months	29	404
Estimated Fair Value, 12 Months or Longer	795	2,614
Gross Unrealized Losses, 12 Months or Longer	28	117
Total Estimated Fair Value	2,200	15,303
Total Gross Unrealized Losses	$ 57	$ 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Beginning balance of credit losses on fixed maturity securities	$ 17	$ 25	$ 18	$ 27
Reductions for securities sold during the period	(1)	(4)	(2)	(6)
Ending balance of credit losses on fixed maturity securities	$ 16	$ 21	$ 16	$ 21

Investments - Available-for-Sal

Investments - Available-for-Sale Fixed Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Cost or Amortized Cost, Due in one year or less	$ 1,018	$ 1,350
Cost or Amortized Cost, Due after one year through five years	8,097	7,979
Cost or Amortized Cost, Due after five years through ten years	16,403	16,859
Cost or Amortized Cost, Due after ten years	12,505	11,893
Cost or Amortized Cost, Total	38,023	38,081
Estimated Fair Value, Due in one year or less	1,032	1,359
Estimated Fair Value, Due after one year through five years	8,476	8,139
Estimated Fair Value, Due after five years through ten years	17,297	16,870
Estimated Fair Value, Due after ten years	14,834	13,174
Estimated Fair Value, Total	$ 41,639	$ 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	Jun. 30, 2019	Dec. 31, 2018
Embedded Derivative on Funds Withheld Liability [Member]
Derivative [Line Items]
Contractual/Notional Amount		$ 172
Estimated Fair Value, Asset		4
With Hedge Designation [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Contractual/Notional Amount	$ 540	500
Estimated Fair Value, Asset		11
Estimated Fair Value, (Liability)	(9)
Without Hedge Designation [Member] | Equity Markets, Options - Purchased [Member]
Derivative [Line Items]
Contractual/Notional Amount	303	213
Estimated Fair Value, Asset	5	18
Without Hedge Designation [Member] | Equity Markets, Options - Written [Member]
Derivative [Line Items]
Contractual/Notional Amount	95	239
Estimated Fair Value, (Liability)	(3)	(17)
Without Hedge Designation [Member] | Commodity Futures [Member]
Derivative [Line Items]
Contractual/Notional Amount	11
Without Hedge Designation [Member] | Commodity Futures [Member] | Long [Member]
Derivative [Line Items]
Contractual/Notional Amount		$ 32
Without Hedge Designation [Member] | Embedded Derivative on Funds Withheld Liability [Member]
Derivative [Line Items]
Contractual/Notional Amount	172
Estimated Fair Value, (Liability)	$ (8)

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
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	$ (123)	$ (23)
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	22,120	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	10,703	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	8,816	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	41,639	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	24	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	41,663	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	1,367	1,293
Receivables [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets, measured on a recurring basis		11
Short Term 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	4,592	3,758
Level 1 [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	(114)	(23)
Level 1 [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	152	196
Level 1 [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	152	196
Level 1 [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	152	196
Level 1 [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	715	704
Level 1 [Member] | Short Term 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	3,469	2,647
Level 2 [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	(9)
Level 2 [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	21,630	19,392
Level 2 [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	10,703	10,748
Level 2 [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	8,623	8,787
Level 2 [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	40,956	38,927
Level 2 [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	20	151
Level 2 [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	40,976	39,078
Level 2 [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	629	570
Level 2 [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		11
Level 2 [Member] | Short Term 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	1,123	1,111
Level 3 [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	338	222
Level 3 [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	193	197
Level 3 [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	531	419
Level 3 [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	4	6
Level 3 [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	535	425
Level 3 [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	$ 23	$ 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Corporate Bonds and Other [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 253	$ 100	$ 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	12	(1)	20	(1)
Purchases	76	2	132	2
Sales		(5)		(5)
Settlements	(2)	(2)	(4)	(4)
Transfers into Level 3				5
Transfers out of Level 3	(1)		(32)
Ending balance	338	94	338	94
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	10		17
States, Municipalities and Political Subdivisions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance		1		1
Ending balance		1		1
Total Asset-Backed [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	184	279	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	4	(1)	7	(6)
Purchases		41	20	71
Sales				(72)
Settlements	(4)	(6)	(8)	(12)
Transfers into Level 3	40	13	45	13
Transfers out of Level 3	(31)	(53)	(68)	(63)
Ending balance	193	273	193	273
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	5		8
Total Fixed Maturities Available-for-Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	437	380	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	16	(2)	27	(7)
Purchases	76	43	152	73
Sales		(5)		(77)
Settlements	(6)	(8)	(12)	(16)
Transfers into Level 3	40	13	45	18
Transfers out of Level 3	(32)	(53)	(100)	(63)
Ending balance	531	368	531	368
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities		0		0
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	15		25
Fixed Maturities Trading [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	5	7	6	4
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)	(1)		(2)	3
Ending balance	4	7	4	7
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities	(1)		(2)	3
Fixed Maturity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	442	387	425	438
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)	(1)	0	(2)	9
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in OCI	16	(2)	27	(7)
Purchases	76	43	152	73
Sales		(5)		(77)
Settlements	(6)	(8)	(12)	(16)
Transfers into Level 3	40	13	45	18
Transfers out of Level 3	(32)	(53)	(100)	(63)
Ending balance	535	375	535	375
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities	(1)	0	(2)	3
Unrealized Gains (Losses) Recognized in other Comprehensive Income (Loss) on Level 3 Assets and Liabilities	15		25
Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	21	20	19	22
Net Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses), Included in Net Income (Loss)		(1)	2	(3)
Purchases	2		2
Sales		(1)		(1)
Ending balance	$ 23	18	23	18
Unrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and Liabilities		$ (1)	$ 3	$ (3)

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	Jun. 30, 2019USD ($)Segment	Dec. 31, 2018USD ($)Segment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value | $	$ 41,639	$ 39,542
Level 3 [Member] | Fixed Maturity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value | $	$ 381	$ 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	1	1
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	5	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	2	3

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	Jun. 30, 2019	Dec. 31, 2018
Estimate Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets, primarily mortgage loans	$ 936	$ 827
Short term debt	84	14
Long term debt	11,464	10,764
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets, primarily mortgage loans	916	839
Short term debt	85	15
Long term debt	11,443	11,345
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short term debt		14
Long term debt		10,111
Level 2 [Member] | Estimate Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short term debt	8
Long term debt	10,909
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets, primarily mortgage loans		827
Long term debt		$ 653
Level 3 [Member] | Estimate Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets, primarily mortgage loans	936
Short term debt	76
Long term debt	$ 555

Claim and Claim Adjustment Ex_3

Claim and Claim Adjustment Expense Reserves - Additional Information (Detail) - CNA Financial [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 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	$ 38	$ 26	$ 96	$ 60
Net A&EP adverse development before consideration of LPT				113
Fair value of the collateral trust account	3,100		3,100			$ 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			3,100
Remaining unrecognized retroactive reinsurance benefit	338		338			$ 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	$ 31	$ 59	$ 45	$ 98

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	6 Months Ended
	Jun. 30, 2019	Jun. 30, 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	2,615	2,552
Increase (decrease) in provision for insured events of prior years	(36)	(112)
Amortization of discount	98	92
Total net incurred	2,677	2,532
Net payments attributable to:
Current year events	(315)	(312)
Prior year events	(2,519)	(2,387)
Total net payments	(2,834)	(2,699)
Foreign currency translation adjustment and other	55	(70)
Net reserves, end of period	17,863	17,833
Ceded reserves, end of period	3,866	4,157
Gross reserves, end of period	$ 21,729	$ 21,990

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Medical professional liability	$ 15	$ 3	$ 30	$ 23
Other professional liability and management liability	(7)	(34)	(19)	(68)
Surety	(15)	(15)	(40)	(30)
Commercial auto	(3)		(8)	(1)
General liability	13	26	(7)	18
Workers' compensation	(7)	(6)	(5)	(12)
Other	(27)	(33)	4	(28)
Total pretax (favorable) unfavorable development	$ (31)	$ (59)	$ (45)	$ (98)

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 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	$ 0	$ 0	97
Retroactive reinsurance benefit recognized	(14)	(15)	(36)	(72)
Pretax impact of deferred retroactive reinsurance	$ (14)	$ (15)	$ (36)	$ 25

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating lease asset	$ 623	$ 623
Operating lease liability	702	702
Operating lease cost	29	59
Variable lease cost	4	8
Short term lease cost	2	4
Lease liability cash payments	$ 30	$ 59

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	Jun. 30, 2019USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, 2019	$ 53
Lessee, Operating Lease, Liability, Payments, 2020	111
Lessee, Operating Lease, Liability, Payments, 2021	108
Lessee, Operating Lease, Liability, Payments, 2022	97
Lessee, Operating Lease, Liability, Payments, 2023	86
Lessee, Operating Lease, Liability, Payments, Thereafter	421
Lessee, Operating Lease, Liability, Payments, Lessee, Operating Lease, Total	876
Discount on Operating Less: discount	174
Operating Lease, Total lease liabilities	$ 702

Leases - other information rela

Leases - other information related to leases (Detail)	Jun. 30, 2019
Weighted Average Remaining Lease Term [Abstract]
Operating leases	9 years 7 months 6 days
Weighted Average Discount Rate [Abstract]
Operating leases	4.70%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2019	Mar. 31, 2019	Jun. 30, 2019
CNA Financial [Member] | Three Point Nine Percentage Notes Due Two Thousand Twenty Nine [Member]
Aggregate principal amount	$ 500
Percentage of senior notes	3.90%
Senior notes due date	May 1, 2029
Debt Instrument, Maturity Date	May 1, 2029
CNA Financial [Member] | Five Point Nine Percentage Notes Due Two Zero Two Zero [Member]
Percentage of senior notes	5.90%
Senior notes due date	Aug. 15, 2020
Aggregate outstanding principal amount	$ 500
Gain (Loss) on Extinguishment of Debt		$ (21)
Extinguishment of Debt, Gain (Loss), Net of Tax		$ (15)
Debt Instrument, Maturity Date	Aug. 15, 2020
Boardwalk Pipeline [Member] | Five Point Eight Percentage Notes Due Two Zero One Nine [Member]
Percentage of senior notes	5.80%
Aggregate outstanding principal amount	$ 350
Senior notes due year	2019
Boardwalk Pipeline [Member] | Four Point Eight Percentage Due Two Thousand Twenty Nine [Member]
Aggregate principal amount	$ 500
Percentage of senior notes	4.80%
Senior notes due date	May 3, 2029
Debt Instrument, Maturity Date	May 3, 2029
Consolidated Container [Member] | Term Loan [Member]
Senior notes due date			Jun. 14, 2026
Credit agreement term loan			$ 250
Debt Instrument, Description of Variable Rate Basis			London Interbank Offered Rate (“LIBOR”) plus an applicable margin of 3.5%
Debt Instrument, Basis Spread on Variable Rate			3.50%
Debt Instrument, Maturity Date			Jun. 14, 2026

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 21,902	$ 23,848	$ 21,386	$ 24,566
Cumulative effect adjustments from changes in accounting standards				(91)
Balance, as adjusted				24,475
Other comprehensive income (loss)	440	(199)	989	(606)
Purchase of Boardwalk Pipeline common units		(1,715)		(1,715)
Ending Balance	22,394	21,858	22,394	21,858
OTTI Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	18	18	14	22
Cumulative effect adjustments from changes in accounting standards				4
Balance, as adjusted				26
Other comprehensive income (loss) before reclassifications, after tax	(1)	(1)	3	(11)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax	1		1	1
Other comprehensive income (loss)		(1)	4	(10)
Amounts attributable to noncontrolling interests				1
Ending Balance	18	17	18	17
Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	527	386	57	673
Cumulative effect adjustments from changes in accounting standards				98
Balance, as adjusted				771
Other comprehensive income (loss) before reclassifications, after tax	434	(156)	955	(570)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax	2	(3)	7	(18)
Other comprehensive income (loss)	436	(159)	962	(588)
Amounts attributable to noncontrolling interests	(46)	17	(102)	61
Ending Balance	917	244	917	244
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1)	10	5
Other comprehensive income (loss) before reclassifications, after tax	(6)	4	(12)	12
Reclassification of (gains) losses from accumulated other comprehensive income, after tax				2
Other comprehensive income (loss)	(6)	4	(12)	14
Purchase of Boardwalk Pipeline common units		(1)		(1)
Ending Balance	(7)	13	(7)	13
Pension Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(786)	(753)	(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	7	9	16	19
Other comprehensive income (loss)	7	9	15	19
Amounts attributable to noncontrolling interests	(1)	(2)	(2)	(2)
Purchase of Boardwalk Pipeline common units		(28)		(28)
Ending Balance	(780)	(774)	(780)	(774)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(148)	(78)	(163)	(88)
Balance, as adjusted				(88)
Other comprehensive income (loss) before reclassifications, after tax	3	(52)	20	(41)
Other comprehensive income (loss)	3	(52)	20	(41)
Amounts attributable to noncontrolling interests		5	(2)	4
Ending Balance	(145)	(125)	(145)	(125)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(390)	(417)	(880)	(26)
Cumulative effect adjustments from changes in accounting standards				(28)
Balance, as adjusted				(54)
Other comprehensive income (loss) before reclassifications, after tax	430	(205)	965	(610)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax	10	6	24	4
Other comprehensive income (loss)	440	(199)	989	(606)
Amounts attributable to noncontrolling interests	(47)	20	(106)	64
Purchase of Boardwalk Pipeline common units		(29)		(29)
Ending Balance	$ 3	$ (625)	$ 3	$ (625)

Shareholders' Equity - Compon_2

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 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)	$ 1	$ (2)	$ 3
Tax on reclassification from accumulated other comprehensive income	0	0	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	(114)	45	(254)	150
Tax on reclassification from accumulated other comprehensive income	0	1	(1)	5
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	2	0	4	(2)
Tax on reclassification from accumulated other comprehensive income	0	0	0	0
Pension Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	0	0	0	0
Tax on reclassification from accumulated other comprehensive income	(3)	(2)	(5)	(5)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax on change in other comprehensive income (loss) before reclassifications	0	0	0	0
Tax on reclassification from accumulated other comprehensive income	$ 0	$ 0	$ 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Treasury stock repurchased, shares			9.8	15.6
Purchase of Loews treasury stock	$ 151	$ 291	$ 473	$ 788

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenues (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Operating revenues and other	$ 961	$ 979	$ 1,946	$ 2,022
Total revenues from contracts with customers	945	965	1,912	1,988
Other revenues	16	14	34	34
CNA Financial [Member] | Non-insurance Warranty [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	285	248	566	486
Diamond Offshore [Member] | Drilling Contracts [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	216	268	450	564
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	321	281	660	612
Loews Hotels And Co [Member] | Lodging and Related Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	185	200	365	383
Corporate [Member] | Rigid Plastic Packaging and Recycled Resin [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 223	$ 216	$ 437	$ 429

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Receivables from contracts with customers, included within Receivables	$ 400		$ 434
Deferred revenue, included within Other liabilities	3,595		3,402
Revenue recognized	533	$ 473
Performance obligations	13,100
Deferred NonInsurance Warranty Revenue and Other Liabilities [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue, included within Other liabilities	3,700		$ 3,500
2019 [Member]
Disaggregation of Revenue [Line Items]
Performance obligations	1,100
2020 [Member]
Disaggregation of Revenue [Line Items]
Performance obligations	$ 2,000

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 2	$ 3	$ 4
Interest cost	30	28	59	55
Expected return on plan assets	(40)	(45)	(80)	(90)
Amortization of unrecognized net loss	12	10	23	21
Settlement charge	2	3	2	7
Net periodic (benefit) cost	5	(2)	7	(3)
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost			1	1
Expected return on plan assets	(1)	(1)	(2)	(2)
Amortization of unrecognized prior service benefit				(1)
Net periodic (benefit) cost	$ (1)	$ (1)	$ (1)	$ (2)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Billions	Jun. 30, 2019USD ($)
CNA Financial [Member]
Commitments [Line Items]
Potential amount of future payments under guarantees	$ 1.7

Segments - Additional Informati

Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Insurance premiums	$ 1,824	$ 1,815	$ 3,627	$ 3,600
Net investment income	551	551	1,208	1,057
Investment gains (losses)	2	(3)	33	6
Non-insurance warranty revenue	285	248	566	486
Operating revenues and other	961	979	1,946	2,022
Total	3,623	3,590	7,380	7,171
Expenses:
Insurance claims and policyholders' benefits	1,352	1,327	2,709	2,666
Amortization of deferred acquisition costs	338	359	680	655
Non-insurance warranty expense	263	225	523	441
Operating expenses and other	1,231	1,229	2,380	2,413
Interest	164	143	305	284
Total	3,348	3,283	6,597	6,459
Income (loss) before income tax	275	307	783	712
Income tax (expense) benefit	(50)	(59)	(162)	(84)
Net income (loss)	225	248	621	628
Amounts attributable to noncontrolling interests	24	(18)	22	(105)
Net income (loss) attributable to Loews Corporation	249	230	643	523
CNA Financial [Member] | Operating Segments [Member]
Revenues:
Insurance premiums	1,824	1,815	3,627	3,600
Net investment income	515	506	1,086	996
Investment gains (losses)	2	(3)	33	6
Non-insurance warranty revenue	285	248	566	486
Operating revenues and other	4	8	13	21
Total	2,630	2,574	5,325	5,109
Expenses:
Insurance claims and policyholders' benefits	1,352	1,327	2,709	2,666
Amortization of deferred acquisition costs	338	359	680	655
Non-insurance warranty expense	263	225	523	441
Operating expenses and other	279	299	563	601
Interest	55	35	89	70
Total	2,287	2,245	4,564	4,433
Income (loss) before income tax	343	329	761	676
Income tax (expense) benefit	(64)	(60)	(141)	(115)
Net income (loss)	279	269	620	561
Amounts attributable to noncontrolling interests	(30)	(29)	(66)	(60)
Net income (loss) attributable to Loews Corporation	249	240	554	501
Diamond Offshore [Member] | Operating Segments [Member]
Revenues:
Net investment income	2	2	4	4
Operating revenues and other	222	269	456	566
Total	224	271	460	570
Expenses:
Operating expenses and other	335	320	618	616
Interest	31	30	61	58
Total	366	350	679	674
Income (loss) before income tax	(142)	(79)	(219)	(104)
Income tax (expense) benefit	36	10	42	54
Net income (loss)	(106)	(69)	(177)	(50)
Amounts attributable to noncontrolling interests	54	32	88	23
Net income (loss) attributable to Loews Corporation	(52)	(37)	(89)	(27)
Boardwalk Pipeline [Member] | Operating Segments [Member]
Revenues:
Operating revenues and other	327	285	673	622
Total	327	285	673	622
Expenses:
Operating expenses and other	209	203	404	401
Interest	46	43	91	87
Total	255	246	495	488
Income (loss) before income tax	72	39	178	134
Income tax (expense) benefit	(19)	(2)	(46)	(14)
Net income (loss)	53	37	132	120
Amounts attributable to noncontrolling interests		(21)		(68)
Net income (loss) attributable to Loews Corporation	53	16	132	52
Loews Hotels And Co [Member] | Operating Segments [Member]
Revenues:
Net investment income	1	1	1	1
Operating revenues and other	185	200	365	383
Total	186	201	366	384
Expenses:
Operating expenses and other	163	169	319	325
Interest	5	8	10	15
Total	168	177	329	340
Income (loss) before income tax	18	24	37	44
Income tax (expense) benefit	(6)	(7)	(12)	(14)
Net income (loss)	12	17	25	30
Net income (loss) attributable to Loews Corporation	12	17	25	30
Corporate [Member]
Revenues:
Net investment income	33	42	117	56
Operating revenues and other	223	217	439	430
Total	256	259	556	486
Expenses:
Operating expenses and other	245	238	476	470
Interest	27	27	54	54
Total	272	265	530	524
Income (loss) before income tax	(16)	(6)	26	(38)
Income tax (expense) benefit	3		(5)	5
Net income (loss)	(13)	(6)	21	(33)
Net income (loss) attributable to Loews Corporation	$ (13)	$ (6)	$ 21	$ (33)