Loews' quarterly profit falls on weak performance in insurance business

May 4 (Reuters) - Loews Corp L.N reported a fall in first-quarter profit on Monday, hurt by weaker underwriting in its insurance subsidiary.

The New York-based company operates in insurance, energy, hospitality and packaging via units that include CNA Financial CNA.N, Boardwalk Pipelines, Loews Hotels and Altium Packaging.

Here are some more details:

• Quarterly core income at Loews' insurance unit decreased 20% to $225 million from a year ago.

• The unit reported an underlying combined ratio of 94.5% in its property and casualty business, compared with 92.1% a year earlier.

• A ratio below 100% means an insurer earned more in premiums than it paid out in claims.

• Net income attributable to Loews fell to $337 million, or $1.63 per share, in the three months ended March 31, compared with $370 million, or $1.74 per share, a year earlier.