Cincinnati Financial(CINF) - 2023 Q3 - Earnings Call Transcript

Next, Chief Financial Officer, Mike Sewell, will add his commentary about our financial performance. The third quarter pretax average yield of 4.44% for the fixed maturity portfolio rose 36 basis points compared with last year. The average pretax yield for the total of purchased taxable and tax-exempt bonds during the third quarter for 2023 was 6.4%. Valuation changes in aggregate for the third quarter of 2023 were unfavorable for both our equity and bond portfolios. Moving on to loss reserves. Our approach ...