CINCINNATI, Jan. 26, 2024 /PRNewswire/ -- Cincinnati Financial Corporation (Nasdaq: CINF) announced that at today's regular meeting, the board of directors declared an 81-cents-per-share regular quarterly cash dividend, increasing by 8% from the previous 75-cents-per-share dividend paid on January 16, 2024. The dividend is payable April 15, 2024, to shareholders of record as of March 19, 2024. Steven J. Johnston, chairman and chief executive officer, commented, "Our long-term view for managing the company b ...

Cincinnati Financial Corporation (NASDAQ:CINF) Q3 2023 Earnings Conference Call October 27, 2023 11:00 AM ET Company Participants Dennis McDaniel - VP & IR Officer Steven Johnston - Chairman & CEO Michael Sewell - CFO, Principal Accounting Officer, EVP & Treasurer Stephen Spray - President & Director Conference Call Participants Charles Peters - Raymond James & Associates Michael Zaremski - BMO Capital Markets Grace Carter - Bank of America Merrill Lynch Meyer Shields - KBW Operator Good morning, and welcom ...

SECURITIES AND EXCHANGE COMMISSION (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2023. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _____________________ to _____________________. Commission file number 0-4604 CINCINNATI FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Ohio 31-0746871 (State or other jur ...

Cincinnati Financial Corporation (NASDAQ:CINF) Q2 2023 Earnings Conference Call July 28, 2023 11:00 AM ET Company Participants Dennis McDaniel - Investor Relations Officer Steve Johnston - Chairman & Chief Executive Officer Mike Sewell - Executive Vice President & Chief Financial Officer Steve Spray - President Conference Call Participants Paul Newsome - Piper Sandler Greg Peters - Raymond James Mike Zaremski - BMO Meyer Shields - KBW Grace Carter - Bank of America Operator Good morning, ladies and gentleme ...

In the first quarter of 2023, we adopted ASU 2018-12 which resulted in changes to the life policy and investment contract reserves and the expansion of required disclosures. The below disclosures represent application of the updated guidance. See Note 1, Accounting Policies, for further discussion. | --- | --- | --- | |----------------------------------------------------------------|-----------------|---------------------| | (Dollars in millions) | June 30, 2023 | December 31, 2022 | | Life policy reserves: ...

Cincinnati Financial Corporation (NASDAQ:CINF) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET Company Participants Dennis McDaniel – Investor Relations Officer Steve Johnston – Chairman and Chief Executive Officer Mike Sewell – Executive Vice President and Chief Financial Officer Steve Spray – President Conference Call Participants Greg Peters – Raymond James Mike Zaremski – BMO Paul Newsome – Piper Sandler Meyer Shields – KBW Mark Dwelle – RBC Grace Carter – Bank of America Operator Good day, ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------|-------|----------------|-------|---------|-------------------|-------|--------------------|-------|------------------|-------|-------| | The table below shows the life deferred policy acquisition \n(Dollars in millions) \nThree months ended March 31, 2023 | costs | asset \nTerm | by | ...

Insurance Segments Performance - The personal lines insurance segment contributed net earned premiums of $1.689 billion in 2022, accounting for 25.8% of total revenues, with a profit before income taxes of $18 million[140]. - Personal lines net earned premiums increased by 10% in 2022 and 5% in 2021[140]. - The commercial lines insurance segment generated net earned premiums of $4,024 million, accounting for 61.4% of total revenues, with a 10% increase from the previous year[165]. - The personal lines insurance segment reported net written premiums of $1,831 million, representing a 14.9% increase from $1,594 million in 2021[162]. - The excess and surplus lines segment contributed net earned premiums of $485 million, which is 7.4% of total revenues, with a 22% increase in both 2022 and 2021[175]. - Life insurance segment revenues were primarily driven by term life insurance, which accounted for $226 million in premiums, a 3.7% increase from the previous year[180]. - Net written premiums for Cincinnati Re increased to $585 million in 2022, up from $461 million in 2021, with approximately 31% attributed to property exposures and 53% to casualty exposures[194]. - Net written premiums for Cincinnati Global totaled $230 million in 2022, up from $187 million in 2021, with 61% classified as direct and facultative[255]. Market Presence and Strategy - The company aims to attract high-quality independent insurance agencies, providing training and support to enhance agency-client relationships[157]. - Approximately 85% of agencies offer some or all of the standard market commercial insurance products, indicating a strong market presence[166]. - The company operates in 42 states for excess and surplus lines, enhancing its market reach and service capabilities[176]. - At year-end 2022, personal lines insurance products were marketed through 2,076 agency locations, covering 73% of total agency locations[172]. - The 10 highest volume personal lines states accounted for 64.5% of earned premiums in 2022, down from 64.8% in 2021, indicating progress towards geographic diversification[201]. - The 10 highest volume commercial lines states generated 56.2% of earned premiums in 2022, a slight decrease from 56.7% in 2021[195]. Financial Performance and Ratios - The company reported a debt-to-total-capital ratio of 7.4% at year-end 2022, with long-term debt totaling $789 million[147]. - The company maintains a risk-based capital to authorized control level risk-based capital ratio of 5.5 at year-end 2022[148]. - The total net written premiums reached $7,646 million in 2022, a 12% increase from $6,825 million in 2021[162]. - The company reported a net loss of $486 million in 2022, a decrease of $3.432 billion compared to net income in 2021, which included a $3.062 billion reduction in net investment gains after tax[59]. - The fair value of the investment portfolio decreased to $21.973 billion at year-end 2022 from $24.337 billion in 2021, primarily due to a decline in equity markets and an increase in interest rates[214]. Investment Strategy and Portfolio - The investment department adheres to risk guidelines set by the investment policy, ensuring a structured approach to asset allocation[186]. - The company’s investment strategy focuses on a buy-and-hold approach to manage interest rate and credit risks[216]. - At year-end 2022, the net unrealized investment gains in the equity portfolio amounted to $5.547 billion[220]. - The weighted average yield-to-amortized cost of the fixed-maturity portfolio was 4.22% at December 31, 2022, up from 4.02% in 2021[217]. - The taxable fixed-maturity portfolio included $234 million of commercial mortgage-backed securities with an average rating of Aa2/AA- at year-end 2022[218]. - At December 31, 2022, the investment-grade fixed-maturity securities represented 80.1% of the portfolio, while noninvestment-grade fixed-maturity securities accounted for 4.2%[249]. - The company has $3.833 billion of tax-exempt fixed-maturity securities with an average rating of Aa2/AA, well-diversified among approximately 1,700 municipal bond issuers[251]. Risk Management and Challenges - The company’s risk management framework includes an enterprise risk management committee overseeing risk activities[230]. - Increased competition in the insurance market could lead to fewer submissions, lower premium rates, and less favorable policy terms, adversely affecting underwriting margins[247]. - The company is exposed to risks from global climate change, which may lead to higher overall losses and increased reinsurance costs[244]. - The company continues to study emerging risks, including climate change risk, and its potential financial effects on operations and insured entities[263]. Claims and Legal Matters - The company emphasizes a claims philosophy focused on prompt payment and preventing false claims, enhancing financial strength for future obligations[155]. - Legal expenses for business interruption claims are influenced by various factors, including attorney fees and litigation trends[64]. - The company noted that future losses may be reduced due to factors such as decreased miles driven and reduced sales and payrolls for businesses[66]. - Incurred losses and expenses related to the pandemic for full-year 2020 totaled $85 million, including $30 million for legal expenses, $19 million for Cincinnati Re losses, and $12 million for Cincinnati Global losses[64]. - Cincinnati Re's estimated share of pandemic-related business interruption losses is approximately half of its total losses, with the remainder primarily from professional liability treaties[65].

Cincinnati Financial Corporation (NASDAQ:CINF) Q4 2022 Earnings Conference Call February 7, 2023 11:00 AM ET Company Participants Dennis McDaniel - IR Steve Johnston - Chairman & CEO Michael Sewell - EVP & CFO Steve Spray - President Steve Soloria - SVP, Investments Conference Call Participants Paul Newsome - Piper Sandler Mike Zaremski - BMO Mark Dwelle - RBC Capital Markets Grace Carter - Bank of America Meyer Shields - KBW Operator Good day, and welcome to the Cincinnati Financial Corporation Fourth Quar ...

Cincinnati Financial Corporation (NASDAQ:CINF) Q3 2022 Earnings Conference Call November 1, 2022 11:00 AM ET Company Participants Dennis McDaniel - IRO Steve Johnston - Chairman & CEO Mike Sewell - EVP & CFO Steve Spray - President Steve Soloria - SVP, Investments Marc Schambow - Chief Claims Officer, The Cincinnati Insurance Company Theresa Hoffer - SVP, Corporate Finance Conference Call Participants Paul Newsome - Piper Sandler Mike Zaremski - BMO Sid Parameswar - Raymond James Scott Heleniak - RBC Capita ...