Reinsurance News
Cincinnati
Cincinnati Financial increases cat event retention at Jan renewals
8th February 2023
Steve Johnston, Chairman and CEO of Cincinnati Financial Corporation, has disclosed that the firm increased its cat event retention to $200m at the January reinsurance renewals. The news comes from the firm's Q4 earnings call, where Johnston noted that on January 1st, Cincinnati Financial again renewed each of its primary property/casualty ... Read the full article
Cincinnati Financial posts net loss of $486 million in full-year results
7th February 2023
Cincinnati Financial Corporation has reported a full-year net loss of $486 million, compared with a net income of $2.946 billion in 2021. For Q4 alone, the firm posted a net income of $1.013 billion, compared with a net income of $1.470 billion for the same quarter of 2021. This came after recognising ... Read the full article
Cincinnati Financial announces promotions and appointments
30th January 2023
Cincinnati Financial Corporation and its US subsidiaries have held their regular shareholder and board meetings, re-electing incumbent directors and corporate officers. In addition, Dirk J. Debbink, lead director, was appointed to the property casualty and life insurance subsidiary boards, joining the executive and investment committees. He was also appointed to the investment ... Read the full article
Cincinnati Financial estimates cat losses of $141m in Q4
30th January 2023
Cincinnati Financial Corporation has announced that its consolidated Q4 results are expected to include pretax catastrophe losses of approximately $141m. According to the announcement, these represent an impact on the Q4 2022 combined ratio of approximately 7.8 percentage points, based on estimated property casualty earned premiums. The catastrophe loss estimate includes $161m ... Read the full article
Cincinnati Financial reports Q2 $418mn net loss
1st November 2022
Cincinnati Financial Corporation has reported a net loss of $418 million for the third quarter of 2022, compared to a net income of $153 million from the third quarter of 2021. The loss was mainly due to the company recognising a $557 million third-quarter 2022 after-tax reduction in the fair value of equity ... Read the full article
Cincinnati Financial estimates cat losses of $252m in Q3
21st October 2022
Cincinnati Financial Corporation has announced that its consolidated Q3 results are expected to include pretax catastrophe losses of approximately $252m, representing an impact on the Q3 2022 combined ratio of approximately 13.9 percentage points, based on estimated property casualty earned premiums. The catastrophe loss estimate includes $220m from Hurricane Ian, excluding ... Read the full article
Cincinnati Financial reports Q2 $808mn net loss
28th July 2022
Cincinnati Financial Corporation has reported a net loss of $808mn for the second quarter of 2022, down from a net income of $703mn for the same period last year. The loss was mainly due to the recognition of a $928mn after-tax reduction in the fair value of equity securities still held, ... Read the full article
Cincinnati falls to Q1 loss on accounting shift
29th April 2022
Cincinnati Financial Corporation has reported a net loss of $273 million for the first quarter of 2022, down from a net income of $620 million for the same period last year. The loss was mainly due to the recognition of a $540 million after-tax reduction in the fair value of equity ... Read the full article
Cincinnati Financial’s P&C combined ratio strengthens in 2021
16th February 2022
Cincinnati Financial Corporation has reported a rise in net income for both the fourth quarter and full year 2021, as the firm's property and casualty (P&C) insurance operation produced an improved combined ratio for both periods. When compared with the previous year, net income increased by 40% to $1.47 billion for ... Read the full article
Cincinnati reports profitable underwriting for Q3
28th October 2021
Cincinnati Financial Corporation has reported an improved combined ratio of 92.6% compared to 103.6%. At 92.6%, this quarter reflects a profitable income. It was made up of loss expenses of 61.9% compared to 73.8% from the same prior year period. The underwriting expenses were reported at 30.7%, slightly higher than Q3 2020’s ... Read the full article
Cincinnati Financial posts $703mn net income for Q2
13th August 2021
Primary insurer Cincinnati Financial has reported a net income of $703 million for the second quarter of 2021, compared with $909 million for the same prior year period. The insurer reported a $206 million decline in income for the second quarter primarily due to the after-tax net effect of a $427 ... Read the full article
Cincinnati Financial reports $620m net income
29th April 2021
Primary insurer Cincinnati Financial improved its property casualty combined ratio to 91.2% in the first quarter of 2021 compared to 98.5% for the year prior. The insurer also reported an underwriting profit of $133 million compared to $24 million in 2020. Its net income improved from last year as it reported a ... Read the full article
Cincinnati Insurance adopts Zesty.ai’s wildfire risk analysis tool
19th March 2021
Climate risk analytics firm Zesty.ai has announced that The Cincinnati Insurance Company has integrated its predictive wildfire risk analytics solution, Z-FIRE, across the carrier's personal lines property portfolio. With Z-FIRE, Cincinnati hopes to be able to assess wildfire risk using an AI model that's been trained on ... Read the full article
Cincinnati improves CR despite higher cat losses
11th February 2021
Primary insurer Cincinnati Financial improved its property casualty combined ratio to 87.3% in the fourth quarter of 2020, despite incurring higher than average catastrophe losses. The combined ratio improved by 4.3 points from 91.6% in Q4 2019, while underwriting profit grew by 57% to $187 million over the same period. This was ... Read the full article
Investment gains help boost Cincinnati’s Q3 net income to $484mn
27th October 2020
Primary insurer Cincinnati Financial has reported a third quarter net income of $484 million, up from $248 million in the prior year period. This increase was primarily due to the after-tax net effect of a $352 million increase in net investment gains and partially offset by a $106 million decrease in ... Read the full article
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