Loews is a diversified holding company whose subsidiaries operate in commercial insurance, natural gas pipeline infrastructure, and hotels. CNA Financial, Loews' dominant subsidiary at roughly 81% of consolidated revenue, sells commercial P&C insurance to businesses of all sizes, covering lines like management and professional liability (D&O, E&O, cyber), workers' compensation, commercial auto, marine, surety bonds, and specialty healthcare liability. CNA distributes through independent agents and brokers rather than a direct sales force, and profits when premiums plus investment income on its float exceed claims and expenses. Boardwalk Pipeline Partners, contributing roughly 13% of revenue, owns and operates approximately 14,275 miles of natural gas and NGL pipelines and underground storage in the Gulf Coast, Midwest, and Southeast U.S. Boardwalk earns primarily through long-term firm transportation and storage contracts with utilities, power generators, and industrial customers, providing a stable fee-based revenue stream regulated by FERC. Boardwalk is in an active expansion phase, with roughly $3.3B in contracted growth projects adding 4.2 Bcf/d of capacity through 2030, driven by LNG export and power generation demand. Loews Hotels operates 27 hotels across the U.S., including a notable cluster of resort properties at Universal Orlando. The corporate segment also holds a ~53% equity stake in Altium Packaging, a rigid plastic container manufacturer, accounted for on the equity method.