Loews Corporation Overview

Loews Sustainability Q&A (Download PDF)

Loews Corporation is a diversified company, headquartered in New York City, with businesses in the insurance, energy, hospitality and packaging industries. Creating value for shareholders over the long term is the central imperative that drives the company’s decision-making process. Loews, the holding company, has a small employee base of about 120 people in the New York area. However, our consolidated subsidiaries – CNA Financial, Boardwalk Pipelines and Loews Hotels & Co– have a combined workforce of about 10,200 employees, primarily across the United States, and separately, unconsolidated entities employ approximately 4,200 employees at properties managed by Loews Hotels & Co and approximately 3,500 employees at Altium Packaging.

Loews is traded on the New York Stock Exchange under the symbol L.



    CNA Financial
    NYSE Symbol: CNA -- Owned: 89.6%

    Industry: Commercial Property & Casualty Insurance

    CNA is one of the largest U.S. commercial property and casualty insurance companies. CNA provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada and Europe, with more than 120 years of experience.




    Boardwalk Pipelines
    Owned: 100%

    Industry: Natural Gas & Liquids Pipelines & Storage

    Boardwalk Pipelines primarily transports and stores natural gas and natural gas liquids for its customers. Boardwalk owns and operates approximately 14,095 miles of natural gas and liquids pipelines. Additionally, Boardwalk owns and operates natural gas and liquids underground storage facilities.



    Loews Hotels & Co
    Owned: 100%

    Industry: Luxury Lodging

    Loews Hotels & Co owns and/or operates 26 hotels and resorts across the U.S. and Canada. Located in major city centers and resort destinations from coast to coast, the Loews Hotels portfolio features properties grounded in family heritage and dedicated to delivering unique, local experiences.


    Altium Packaging
    Owned: 53%

    Industry: Rigid Plastic Packaging

    Altium Packaging is a leading customer-centric packaging solutions provider and manufacturer in North America. Altium specializes in customized mid- and short-run packaging solutions, serving a diverse customer base in the pharmaceutical, dairy, household chemicals, food/nutraceuticals, industrial/specialty chemicals, water, and beverage/juice segments. Altium also operates a leading post-consumer recycled resin business, Envision Plastics. The company has 66 packaging manufacturing facilities in the U.S. and Canada, two recycled resin manufacturing facilities, and 3,500 employees. 

Our Core Values and Our Commitment to Sustainability

While Loews’s subsidiaries operate in vastly different businesses, we expect each subsidiary to demonstrate certain shared philosophies and values. Most notable are the following five tenets, which extend across all of Loews:

Loews’s Values

  1. Our view is long, and we rarely measure the significance of an event based on its short-term impact.
  2. We strive to conduct our business and treat our stakeholders with honesty, integrity and respect.
  3. We seek to manage our businesses and resources conservatively, focusing on the downside. This includes maintaining a strong liquidity position, both to protect our interests and to take advantage of opportunities.
  4. We focus on continually evolving because circumstances and markets are always changing.
  5. We encourage collaborative and collegial work environments that value diverse opinions and backgrounds, as this enhances decision-making and makes the workplace more satisfying and fun.

Both at the parent company and at each subsidiary, these values influence our position on sustainability. Our steadfast focus on the long term and on the importance of honest and respectful relationships informs our emphasis on ethics, integrity and community. Our preference for conservative resource management translates into how we think about the environment and how we can best adapt to the shifting global marketplace. In every aspect of our operations, we aim to work responsibly, with veracity and dependability.

Just as Loews sets the tone at the top regarding our enterprise-wide philosophy and values as well as the importance of prudent financial and risk management, Loews regularly communicates to its subsidiaries the importance of being good corporate citizens and acting in an ethically, socially and environmentally responsible manner. With this direction, we leave it up to the subsidiaries to develop and implement the specific policies and programs most relevant to and impactful for their business, their industry and their people.

Future Sustainability Priorities:

Our commitment to sustainability is ongoing and, in the near term, we intend to continue to focus, in particular, on the impact of:

  • Environmental and climate risk to CNA Financial;
  • Efficient use of natural resources for Loews Hotels; and
  • Environmental conservation and employee safety at Boardwalk Pipelines and Altium Packaging.

Going forward, we intend to continue to expand our understanding of sustainability best practices, openly engage with and receive input from stakeholders and other third parties on important sustainability issues, and report on these issues through this report and other engagement tools.

In the pages that follow, we provide overviews of Loews approaches to the sustainability issues that we consider to be most relevant to Loews and our subsidiaries, taken as a whole. Separately each of our subsidiaries has created a Sustainability Scorecard that reports against specific SASB metrics and other metrics, considered most relevant on an entity-by-entity basis.  


Click here for important disclaimers regarding the statements made by Loews and its subsidiaries regarding ESG matters.

Loews Sustainability Q&A

At the holding company level, we offer a framework for how Loews interacts with its subsidiaries on various key issues and how we set the tone for these issues.  Our philosophy on these key issues is summarized in the Loews ESG Q&A.

All data in the Q&A is presented at the holding company level unless otherwise specified. 


    • Loews Corporation operates in a complex, multi-industry risk environment. Our proactive enterprise risk management (ERM) framework draws upon industry and functional area expertise at the subsidiary and holding company levels, with assistance from third parties as needed, to help us identify, manage and mitigate risks across five key categories: strategic, compliance & regulatory, financial, operational and emerging risks. This proactive approach to ERM underlies our ability to create value for our shareholders over the long term.

      An effective corporate governance framework is foundational to Loews’s goal of building long-term value for our shareholders, and to establishing the structures and processes necessary to manage all aspects of our businesses. We are committed to high standards in corporate governance, including a strong and independent Board of Directors, a robust ethics and compliance program, and a compensation framework that incentivizes prudent risk management and long-term financial success. Additional information can be found at ir.loews.com and in our annual Proxy Statement. 

      At Loews, we also recognize the importance of understanding, evaluating and managing our risks on an enterprise-wide basis. We have an established Risk Council that acts as a cross-disciplinary forum within the parent company to discuss Loews’s stand-alone and enterprise-wide risk profile. The Risk Council also reviews Loews’s corporate risk management framework, which outlines the strategies, policies, procedures and systems established to identify, assess and manage material risks.


      As part of Loews’s Enterprise Risk Management Framework, spanning the holding company and its subsidiaries, the Loews management team regularly discusses risks and opportunities with the Loews Board of Directors. Annually, the Loews Board undertakes an Enterprise Risk Management Review that addresses individual entity and enterprise-wide risks as well as emerging risks.

      Our subsidiaries also have robust enterprise risk management processes that are tailored to their individual businesses. Across the enterprise, our subsidiaries implement policies and practices that aim to ensure business resilience and compliance with statutory and regulatory requirements in the industries in which they operate. Compliance with these policies is monitored closely by management, including through the Loews Risk Council and our internal and external audit processes.

      Loews’s cyber risk strategy is constantly evolving to prevent, detect, anticipate and respond to cyberthreats. Loews’s data privacy and security program consists of policies, controls, and training designed to safeguard company and employee data. Our Cyber Risk Committee provides oversight of the program. Loews works collaboratively with our subsidiaries on cybersecurity information sharing, regular testing and to ensure continual improvement of our cyber risk profiles. Loews and our subsidiaries follow the National Institute of Standards and Technology (NIST) Cybersecurity Framework, which provides guidance for how private-sector organizations can assess and improve their ability to prevent, detect, and respond to cyber-attacks.


    • Loews recognizes the importance of protecting and maintaining the quality of the environment, is committed to environmental responsibility and encourages this behavior in its subsidiaries. Our subsidiaries have corporate policies for conserving energy and promoting recycling and reuse programs to conserve natural resources. We seek to reduce our environmental impact and to make meaningful contributions to environmental causes.

      Our commitments to environmental sustainability as stewards of the earth include: 

      1. Recognizing and responding to the reality of climate change across our businesses;
      2. Working to identify, measure and ultimately reduce the environmental footprint of our operations; and
      3. Complying with applicable environmental laws, regulations, and other obligations.


    • Our investment philosophy reflects our long-term approach to sustainable value creation.  Our investment process includes the consideration of ESG factors to the degree appropriate, as we understand the significance of responsible investment. Our investment process considers ESG factors relating to the sustainability of the entities in which we invest. We have traditionally limited our exposure to public equity securities and other riskier asset classes. Since we invest overwhelmingly in fixed income securities, our analysis of ESG factors focuses primarily on credit risk.

      When investing in fixed income we consider the expected returns and risks, including interest rate, credit and prepayment risks. Our investment approach considers financial data, management information, relevant ESG considerations, third-party research and many other inputs. In addition, our asset allocation process considers the expected returns for bearing various risks, including credit risk and ESG risks.

      We consider environmental and public policy risk in our credit underwriting and closely assess climate change considerations, including those associated with legal and regulatory changes. Our investment team periodically conducts deep dives into ESG topics to examine the impacts of specific scenarios, such as the rapid pace of electrification of vehicles on the traditional automotive market or the physical and financial risks of severe weather events on public utility authorities.

    • At Loews we view ourselves as environmental stewards. We share in the responsibility of protecting our natural environment through conservation and sustainable practices. This goal is a focus at each of our subsidiaries and includes switching to LED light bulbs, putting in place a major water conservation effort at Loews Hotels, actively monitoring and reducing greenhouse gas emissions at Boardwalk and recycling ocean-bound plastic waste into environmentally safe packaging at Altium.

    • Loews recognizes that proper stewardship of the environment is critical, and that climate change poses a growing threat to the economy, environment and societies around the world. We take these risks seriously and seek to reduce our environmental and carbon footprint. Each of our subsidiaries monitors the impacts of climate change on its business. CNA and Boardwalk, in particular, are sensitive to the potential impacts of climate change.

      At the parent company level, we have a small footprint operating out of offices in New York. Nonetheless, we do our part by striving to promote sustainability through environmentally conscious waste management and sustainable procurement procedures. Loews is also proud of the initiatives it and its subsidiaries have taken to promote sustainability, to protect and preserve the environment and to reduce the impact of their respective businesses on the environment.

    • Loews has a small footprint. In 2021 total energy consumed at the holding company’s offices was 1 million KwH.


    • Loews and its subsidiaries are committed to protecting and preserving human rights, as defined in the United Nations Universal Declaration of Human Rights. This commitment to human rights is represented in our values of honesty, integrity, collegiality, and empowerment, which form the basis of our Code of Business Conduct and Ethics. Our respect for human rights is an important part of how we operate. Respect for human rights is reflected in our company policies against discrimination, harassment and retaliation, and through our commitment to diversity and inclusion.  It is also evident through our corporate responsibility programs in which our employees engage in the communities where we live and work.

      1. Our expectation is that customers, employees and team members will be treated with respect and dignity. We expect that our suppliers and business partners similarly will respect individual human rights and reject abuses of human rights.
      2. Loews takes the following actions to ensure we are honoring our commitment to human rights:
      1. Employees must read and affirm upon hire, and periodically thereafter, our Code of Business Conduct and Ethics.
      2. Employees are required to participate in Code of Business Conduct and Ethics training.
      3. We provide many avenues, including ones that are anonymous, through which employees can raise issues of concern or report potential violations of company policies without fear of retaliation.
      4. It is our priority that employees work in safe environments, and we expect suppliers to ensure the same for their employees.
      5. Our businesses and operations comply with applicable labor, safety, health, anti-discrimination and other workplace laws.
      6. We expect that our employees, team members and business partners reject human rights violations such as slavery, human trafficking and forced and child labor
    • Across the Loews enterprise, a cornerstone of our human capital strategy is our commitment to fostering a diverse, inclusive and engaging work environment, where all people are respected and encouraged to contribute their ideas. We believe that by employing individuals with different backgrounds and experiences, we can better meet the diverse needs of our stakeholders. Cultivating an engaging workplace and continuously improving the employee experience helps attract and retain key talent.

      We and our subsidiaries understand that seeking to hire the best people and cultivating an engaging workplace is critical to our businesses’ long-term strategic success. The specialist nature of our businesses also requires a commitment to maintaining that talent pool. Each of us has programs in place to help employees build their knowledge, skills and experience, as well as to guide their career development.


    • Loews’s cyber risk strategy seeks to continuously evolve to prevent, detect, anticipate and respond to cyberthreats. Loews’s data privacy and security program consists of policies, controls and training designed to safeguard company and employee data. Our Cyber Risk Committee helps provide oversight of the program. In addition, our Audit Committee oversees cybersecurity risk management on behalf of our Board.

      Loews works collaboratively with our subsidiaries on cybersecurity information sharing, regular testing and seeking to foster continual improvement of our cyber risk profiles. Loews and our subsidiaries follow the National Institute of Standards and Technology (NIST) Cybersecurity Framework, which provides guidance for how private-sector organizations can assess and improve their ability to prevent, detect, and respond to cyber-attacks.