Insurance company Loews Corp (L.US) announced on Monday that third-quarter profit increased by 58% year-on-year to $0.401 billion, or $1.82 per share, benefiting from increased investment income and strong performance in the insurance business.

Most of the quarterly revenue came from its insurance business CNA Financial, in which the company holds over 90% of the shares. Quarterly premiums increased year-on-year to $2.59 billion, while investment income rose from $0.592 billion in the same period last year to $0.776 billion.