Loews profit rises 59 pct after lower charge

Reuters

Oct 28 (Reuters) - Loews Corp posted a 59 percent jumpin third-quarter profit as the hotel, energy and financialservices conglomerate took a smaller impairment charge in itsHighMount Exploration & Production unit.

Net profit rose to $282 million, or 73 cents per share, from$177 million, or 45 cents per share, a year earlier.

Excluding the charges, adjusted net income fell to $324million from $343 million.

Loews is controlled by the billionaire Tisch family.

Insurer CNA Financial Corp, Loews' biggest holding,reported a 25 percent jump in its operating profit due to higher premium income and lower non-catastrophe losses.

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