Feb 10 (Reuters) - Loews Corp ( L ) on Monday reported a

fall in fourth-quarter profit as higher catastrophe losses and a

one-time pension settlement charge hurt its insurance business,

CNA Financial ( CNA ).

Extreme weather events such as hurricanes, wildfires, and

other natural disasters swept the United States last year,

eroding underwriting margins for insurers.

Loews ( L ) earns most of its revenue from CNA, in which it holds

a nearly 92% stake, per LSEG data.

Net income attributable to Loews ( L ) from the insurance unit

dipped to $19 million for the three months ended Dec. 31,

compared with $336 million last year. That included a

pension-settlement charge of $265 million for CNA.

The losses were partially offset by a rise in the New

York-based parent company's investment income to $696 million in

the quarter, from $643 million a year earlier.

U.S. equity markets have rallied as the Federal Reserve

started cutting interest rates last year and on hopes of a soft

landing for the economy, helping companies such as Loews ( L ) reap

higher investment returns.

Net income attributable to Loews ( L ) was $187 million, or 86

cents per share, compared with $446 million, or $1.99 a share, a

year earlier.

Shares of the company had gained nearly 22% in 2024.