Loews Corporation
Industry: Insurance (Prop. & Casualty)

Lowes Corporation is a holding company whose subsidiaries are engaged in various lines of business. These include property, casualty and life insurance through CAN Financial Corporation, a 90%-owned subsidiary; the production and sale of cigarettes through Lorillard, Inc., a wholly owned subsidiary; the operation of hotels through Loews Hotels Holding Corporation, a wholly owned subsidiary; the operation of offshore oil and gas drilling rigs through Diamond Offshore Drilling, Inc., a 54%-owned subsidiary, and the distribution and sale of watches and clocks through Bulova Corporation, a 97%-owned subsidiary.

Business Summary
Loews Corporation is a holding company. Its subsidiaries are engaged in business of commercial property and casualty insurance (CNA Financial Corporation, a 91% owned subsidiary); the production and sale of cigarettes (Lorillard, Inc., a wholly owned subsidiary); the operation of hotels (Loews Hotels Holding Corporation, a wholly owned subsidiary); the operation of offshore oil and gas drilling rigs (Diamond Offshore Drilling, Inc., a 55%-owned subsidiary); the operation of interstate natural gas transmission pipeline systems (Boardwalk Pipelines, LLC (formerly TGT Pipeline, LLC), a wholly owned subsidiary), and the distribution and sale of watches and clocks (Bulova Corporation, a wholly owned subsidiary). In December 2004, the Company's subsidiary, TGT Pipeline, LLC acquired Gulf South Pipeline, LP from Entergy-Koch, LP.

Financial Summary
LTR is a holding company whose subsidiaries are engaged in property, casualty and life insurance, the production and sale of cigarettes, and the operation of hotels and oil and gas drilling rigs. For the six months ended 6/30/05, revenues rose 5% to $7.77B. Net income rose 76% to $671.3M. Results reflect growth at Boardwalk Pipelines and Diamond Offshore and the absence of a $618.6M impairment loss on the sale of CNA's IL insurance business.