May 6 (Reuters) - Loews Corp ( L ) on Monday reported a

near 22% jump in first-quarter profit compared with the previous

year, helped by higher premiums and strong returns on its

investments.

The company earns most of its revenue from its insurance

unit CNA in which it holds an about 90% stake.

WHY IT'S IMPORTANT

U.S. government bonds have rallied on rising hopes of the

U.S. Federal Reserve successfully executing a soft landing as

inflation cools down and that has induced confidence among

market participants.

KEY QUOTE

"CNA continues to experience strong profitable growth,

reporting its highest ever first-quarter core income," said

James S. Tisch, President and CEO, Loews Corporation ( L ).

BY THE NUMBERS

Investment income for the New York-based company rose to

$669 million in the quarter ended March 31, from $569 million a

year earlier.

The income attributable to Loews ( L ) in the reported quarter was

$457 million, or $2.05 per share, up from $375 million, or $1.61

per share, a year earlier.

MARKET REACTION

Shares in the company were flat in premarket trading.