UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2022. ☐ 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 c ...

Financial Ratios and Capital Strength - The debt-to-total-capital ratio was 6.0% at year-end 2021, with long-term debt totaling $789 million, up $1 million from 2020[39] - The risk-based capital (RBC) ratio for property casualty insurance was 0.9-to-1 at year-end 2021, compared to the industry average of 0.7-to-1[41] - Statutory capital and surplus for the standard market property casualty insurance subsidiary was $7,247 million at year-end 2021, up from $5,838 million in 2020[41] - The life statutory adjusted risk-based surplus to liabilities ratio was 7.4% at year-end 2021, indicating strong capital strength for the life insurance subsidiary[41] - Cincinnati Financial's commercial lines premium trends are significantly influenced by the construction industry, with an estimated 39% of general liability premiums coming from this sector[87] Revenue and Premiums - In 2021, Cincinnati Financial Corporation reported total revenues of $6.825 billion, an increase from $6.192 billion in 2020, representing a growth of 10.2%[69] - The commercial lines insurance segment generated net earned premiums of $3.674 billion, accounting for 38.2% of consolidated total revenues, with a profit before income taxes of $598 million[73] - Personal lines insurance contributed net earned premiums of $1.594 billion, representing 16.0% of total revenues, with a profit before income taxes of $97 million[88] - The commercial lines insurance segment saw a 6% increase in net earned premiums in 2021, following a 5% increase in 2020[73] - The personal lines insurance segment's net earned premiums rose by 5% in 2021, following a 4% increase in 2020[88] Agency and Market Presence - The company employed 5,166 associates at the end of 2021, with a voluntary turnover rate increasing to approximately 10%[59] - The top 10 states accounted for 52.1% of consolidated property casualty earned premium volume in 2021, with Ohio being the largest at $889 million[46] - At year-end 2021, Cincinnati Financial marketed personal lines insurance products through approximately 73% of its agency reporting locations[90] - Approximately 80% of the 1,921 property casualty agency relationships offered Cincinnati Life products to their clients by the end of 2021[112] Investment Portfolio - The fair value of the investment portfolio increased to $24.337 billion at year-end 2021, up from $21.194 billion in 2020, reflecting unrealized gains primarily due to rising equity markets[118] - Total investment portfolio at year-end 2021 was $24.337 billion, with fixed-maturity investments comprising 51.0% and equity investments 22.6%[119] - Tax-exempt fixed-maturity securities totaled $4.164 billion, representing 17.1% of the total portfolio, with an average rating of Aa2/AA[128] - Net unrealized investment gains in the equity portfolio at year-end 2021 amounted to $7.194 billion, indicating significant appreciation[131] - The weighted average yield-to-amortized cost for fixed-maturity securities was 4.02% at year-end 2021, slightly down from 4.12% in 2020[126] Regulatory and Risk Management - Cincinnati Financial Corporation's domestic insurance subsidiaries must provide a 10-day advance notice to the insurance commissioner before paying any dividends, with a maximum payout of the greater of 10% of statutory capital and surplus or 100% of statutory net income for the prior year[141] - The company is subject to risk-based capital (RBC) requirements, which serve as an early warning tool for identifying undercapitalized insurers, emphasizing the importance of maintaining adequate capital levels[143] - The company operates under the regulatory oversight of the Ohio Department of Insurance, which imposes restrictions on dividend payments to ensure solvency and liquidity[215] - Cincinnati Financial Corporation's risk management framework includes a committee responsible for overseeing risk activities and providing quarterly reports on risk metrics to senior management[150] Challenges and Emerging Risks - The company faces challenges in hiring and retaining qualified associates due to low unemployment rates and labor shortages in many markets[219] - Changes in industry practices and regulations could adversely affect the company's ability to obtain adequate rates for covered risks and may lead to increased claims[220] - Future changes in tax laws could materially impact the company's investment income and overall financial condition[222] - The company continues to study emerging risks, including climate change, which could impact the credit quality of its investment portfolios and lead to increased losses without corresponding premium increases[153] Technology and Cybersecurity - Technology enhancements have improved service access for agencies and policyholders, reducing costs and increasing efficiency[50] - The company relies heavily on technology for critical business functions, and any system failures could significantly impair operations and customer relationships[226] - Cybersecurity threats pose a risk to the company's data security, potentially leading to operational disruptions and increased compliance costs[230] - A breach of security could result in unauthorized access to data, leading to litigation, fines, and reputational damage[231]

Cincinnati Financial Corporation (NASDAQ:CINF) Q4 2021 Earnings Conference Call February 16, 2022 11:00 AM ET Company Participants Dennis McDaniel - IRO Steve Johnston - Chairman, President & CEO Mike Sewell - CFO, Senior VP & Treasurer Steve Spray - Chief Insurance Officer Martin Hollenbeck - Chief Investment Officer & Senior VP Conference Call Participants Mike Zaremski - Wolfe Research Paul Newsome - Piper Sandler Meyer Shields - KBW Scott Heleniak - RBC Capital Markets Disclaimer*: This transcript is de ...

Cincinnati Financial Corporation (NASDAQ:CINF) Q3 2021 Results Conference Call October 28, 2021 11:00 AM ET Company Participants Dennis McDaniel - IRO Steve Johnston - Chairman, President & CEO Mike Sewell - CFO Steve Spray - Chief Insurance Officer Conference Call Participants Paul Newsome - Piper Sandler Charlie Lederer - Wolfe Research Mark Dwelle - RBC Capital Markets James Bach - KBW Operator Good day, and thank you for standing by. Welcome to Third Quarter 2021 Earnings Conference Call. [Operator Inst ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (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, 2021. ☐ 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 i ...

Cincinnati Financial Corporation (NASDAQ:CINF) Q2 2021 Earnings Conference Call July 29, 2021 11:00 AM ET Company Participants Dennis McDaniel – Investor Relations Steve Johnston – Chairman, President, and Chief Executive Officer Mike Sewell – Chief Financial Officer Steve Spray – Chief Insurance Officer Conference Call Participants Derek Han – KBW Mark Dwelle – RBC Capital Markets Operator Good day, and thank you for standing by, and welcome to the Second Quarter 2021 Earnings Conference Call. [Operator In ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2021. ☐ 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 ch ...

Cincinnati Financial Corporation (NASDAQ:CINF) Q1 2021 Results Earnings Conference Call April 29, 2021 11:00 AM ET Company Participants Dennis McDaniel - Investor Relations Officer Steven Johnston - President and Chief Executive Officer Michael Sewell - Chief Financial Officer, Senior Vice President and Treasurer Conference Call Participants Mark Dwelle - RBC Capital Markets LLC Operator Good day, and thank you for standing by. Welcome to the First Quarter 2021 Earnings Conference Call. At this time, all pa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2021. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------|------------------------ ...

United States Securities and Exchange Commission Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2020. ☐ 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 000-04604 Cincinnati Financial Corporation (Exact name of registrant as specified in its charter) Ohio ...