Loews' quarterly profit rises on investment income, strong insurance unit

Aug 4 (Reuters) - Loews Corp L.N reported a rise in second-quarter profit on Monday, helped by higher investment income and strong performance in its insurance unit.

U.S. stocks staged a rebound following weeks of tariff-driven turbulence, as signs of easing trade tensions and hopes for renewed trade negotiations between Washington and key trading partners helped calm investor nerves, easing fears of a prolonged economic fallout.

The New York-based company's investment income rose to $714 million in the quarter compared with $639 million a year earlier.

The company rakes in the bulk of its revenue from CNA Financial CNA.N, the insurance giant in which it owns a dominant 90% stake, according to LSEG data.

Loews' insurance unit's property and casualty catastrophe losses were $62 million, compared with $82 million a year earlier, while net written premiums increased by 6%.

Spending on insurance products by individuals and corporations has remained resilient despite economic uncertainty.

Net income attributable to Loews rose to $391 million, or $1.87 per share, in the three months ended June 30, compared with $369 million, or $1.67 per share, a year earlier.

Loews, which also operates in energy, hospitality and packaging through subsidiaries including Boardwalk Pipelines, Loews Hotels and Altium Packaging, reported total revenue of $4.56 billion, up from $4.27 billion last year.

The company's stock rose nearly 6.6% so far this year, compared with the 6.1% rise in the benchmark S&P 500 index .SPX.