Profile: Loews Corp (L.N)
6 Dec 2016
Loews Corporation, incorporated on November 12, 1969, is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas, and operation of a chain of hotels. The Company's subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling, Inc. (Diamond Offshore); Boardwalk Pipeline Partners, LP (Boardwalk Pipeline), and Loews Hotels Holding Corporation (Loews Hotels).
CNA Financial Corporation
CNA's insurance products include commercial property and casualty coverages, including surety. CNA's services include risk management, information services, warranty and claims administration. CNA's property and casualty field structure consists of approximately 50 underwriting locations across the United States. In addition, there are approximately five centralized processing operations, which handle policy processing, billing and collection activities, and also act as call centers to optimize service. CNA's products and services are marketed through independent agents, brokers and managing general underwriters to a range of customers, including small, medium and large businesses, insurance companies, associations, professionals and other groups.
CNA's core business, commercial property and casualty insurance operations, include Specialty, Commercial and International. Other Non-Core business includes Life & Group Non-Core and Other. CNA's Specialty business includes the business groups, such as Management & Professional Liability, Surety and Warranty and Alternative Risks. The Management & Professional Liability business group provides management and professional liability insurance and risk management services, and other specialized property and casualty coverages. Surety business group offers small, medium and large contract and commercial surety bonds. Warranty and Alternative Risks business group provides extended service contracts and related products that provide protection from the financial burden associated with mechanical breakdown and other related losses, primarily for vehicles, and portable electronic communication devices. CNA's Commercial business has property products, including standard and excess property, marine and boiler and machinery coverages. CNA's Commercial business has Casualty products, including standard casualty insurance products, such as worker's compensation, general and product liability, commercial auto and umbrella coverages. These property and casualty products are offered as part of CNA's Middle Market, Small Business and Other Commercial insurance groups. Other Commercial business also includes total risk management services relating to claim and information services to the large commercial insurance marketplace, through a subsidiary, CNA ClaimPlus, Inc. CNA also has a presence in Canada, Europe and Singapore consisting of approximately 15 branch operations and access to business placed at Lloyd's of London through Hardy Underwriting Bermuda Limited. CNA's Life & Group Non-Core business includes the results of CNA's long-term care businesses that are in run-off.
Diamond Offshore Drilling, Inc.
Diamond Offshore is engaged, through its subsidiaries, in the business of operating drilling rigs that are chartered on a contract basis for fixed terms by companies engaged in the exploration and production of hydrocarbons. Diamond Offshore owns over 30 offshore drilling rigs, which include approximately four jack-up rigs. Diamond Offshore's fleet consists of over 20 semisubmersible rigs, including the Ocean GreatWhite, which is under construction; approximately five jack-ups and approximately four dynamically positioned drillships, including the last of Diamond Offshore's approximately four newbuild drillships and the Ocean BlackLion. Diamond Offshore offers a range of services in both the floater market (ultra-deepwater, deepwater and mid-water) and the non-floater, or jack-up market. The markets for Diamond Offshore's contract drilling services include South America, principally offshore Brazil, and Trinidad and Tobago; Australia and Southeast Asia, including Malaysia, Indonesia and Vietnam; the Middle East; Europe, principally in the United Kingdom and Norway; East and West Africa; the Mediterranean, and the Gulf of Mexico, including the United States and Mexico.
Boardwalk Pipeline Partners, LP
Boardwalk Pipeline is engaged in integrated natural gas and natural gas liquids (NGLs) transportation and storage, and natural gas gathering and processing. Boardwalk Pipeline owns and operates approximately 14,090 miles of interconnected natural gas pipelines directly serving customers in approximately 13 states and indirectly serves customers throughout the northeastern and southeastern United States through numerous interconnections with unaffiliated pipelines. Boardwalk Pipeline also owns approximately 435 miles of NGL pipelines in Louisiana and Texas. Boardwalk Pipeline also owns three salt dome caverns and a brine pond for use in providing brine supply services and to support the NGL storage operations.
The pipeline and storage systems of Boardwalk Pipeline consist of the Gulf South pipeline system, which runs approximately 7,400 miles along the Gulf Coast in the states of Texas, Louisiana, Mississippi, Alabama and Florida; the Texas Gas pipeline system, which originates in Louisiana, East Texas and Arkansas and runs for approximately 6,020 miles north and east through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky, Indiana, and into Ohio, with diameter lines extending into Illinois; the Gulf Crossing pipeline system, which originates in Texas and proceeds into Louisiana and operates approximately 375 miles of natural gas pipeline and Louisiana Midstream. Boardwalk Petrochemical owns and operates the Evangeline Pipeline, which is an approximately 180 mile interstate pipeline. Boardwalk Field Services operates natural gas gathering, compression, treating and processing infrastructure primarily in south Texas with approximately 290 miles of pipeline.
Loews Hotels Holding Corporation
The subsidiaries of Loews Hotels Holding Corporation, the Company's subsidiary, operate a chain of over 20 hotels. Of these hotels Loews Hotels owns over 10 hotels.
667 MADISON AVE
NEW YORK NY 10065-8087