Loews Corporation's stock plummeted 5.04% during intraday trading on Monday, following the release of its first-quarter financial results.

The diversified conglomerate reported a decline in quarterly profit, primarily attributed to weaker performance at its insurance subsidiary, CNA Financial. Loews' net income fell to $337 million, or $1.63 per share, down from $370 million, or $1.74 per share, a year earlier.

The earnings decline was driven by higher insurance claims and policyholders' benefits at CNA Financial, along with weaker underwriting results. CNA's core income decreased by 20%, and the unit reported a higher combined ratio in its property and casualty business, indicating less profitable underwriting compared to the prior year.