Business Description

Loews Corporation was incorporated in 1969 and is a holding company. Our subsidiaries are engaged in the following lines of business: • commercial property and casualty insurance (CNA Financial Corporation, an approximately 92% owned subsidiary); • transportation and storage of natural gas and natural gas liquids, olefins and other hydrocarbons (Boardwalk Pipeline Partners, LP, a wholly owned subsidiary); and • operation of a chain of hotels (Loews Hotels Holding Corporation, a wholly owned subsidiary). We also own approximately 53% of Altium Packaging LLC, an unconsolidated subsidiary, which is engaged in the manufacture of rigid plastic packaging solutions. We have four