Valued at a market cap of $22.2 billion, Loews Corporation (L) provides commercial property and casualty insurance. The New York-based company also provides midstream energy services, including natural gas and natural gas liquids (NGL) interstate pipeline transportation, underground storage infrastructure, and gathering services.
Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and L fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the insurance - property & casualty industry. The company's defining specialty is its decentralized, multi-industry holding company structure powered by an "insurance float" strategy.