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Loews reported net income of $457 million for the first quarter of 2024, representing a 22% increase over the same period last year. Key highlights include improvements in CNA Financial 's net income, Boardwalk Pipelines' results, and parent company investment returns. Book value per share increased to $83.68 as of March 31, 2024. The company also repurchased 0.9 million shares of its common stock for $67 million since December 31, 2023.
CNA Financial announced first quarter 2024 net income of $338 million, or $1.24 per share, a 14% increase from the prior year. Core income was $355 million, or $1.30 per share, reflecting the best first quarter core income on record. The P&C core income was $372 million, up 9% from the prior year, driven by higher investment income and favorable net prior year development. Net investment income increased 16% to $609 million pretax. The P&C combined ratio was 94.6%. Book value per share was $35.62, a 2% increase from year-end 2023. The Board of Directors declared a quarterly cash dividend of $0.44 per share.