Welcome to our dedicated page for Cincinnati Financial news (Ticker: CINF), a resource for investors and traders seeking the latest updates and insights on Cincinnati Financial stock.
Cincinnati Financial Corporation (Nasdaq: CINF) is a leading property and casualty insurance provider operating through its flagship subsidiary, The Cincinnati Insurance Company. Since its establishment in 1950, Cincinnati Financial has grown to be one of the top 25 property casualty insurer groups in the United States based on net written premiums.
The company offers a comprehensive range of insurance products, including business, home, and auto insurance, marketed through a select group of independent insurance agencies across 39 states. Additionally, its subsidiary, The Cincinnati Life Insurance Company, provides life and disability income insurance as well as annuities in every state except New York.
Cincinnati Financial operates through multiple segments, including Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The majority of revenue is generated through its commercial lines, followed by personal lines.
One of the company's core strengths is its empowered field representatives who live in the communities they serve. These representatives provide local services such as marketing support, claims service, loss control advice, and boiler inspections. Associates at the Fairfield, Ohio headquarters support field representatives with managerial, administrative, underwriting, and technical expertise.
Financially, Cincinnati Financial has shown resilience and growth. For example, in the third quarter of 2023, the company reported a significant rise in non-GAAP operating income driven by higher underwriting profits and a 17% increase in pretax investment income. The company continues to focus on disciplined growth through all market cycles, combining personal service with data-driven analytics to ensure profitability.
Recent financial highlights include:
- Underwriting profit of $112 million for the third quarter of 2023
- Combined ratio of 94.4% for the same period
- Book value per share increased to $67.72 as of September 30, 2023
- First-quarter 2024 net written premiums grew by 11%, with record new business of $346 million
Cincinnati Financial remains committed to creating long-term shareholder value through strategic investments, strong agency relationships, and exceptional customer service. The company's latest financial statements and investor communications can be accessed through their website at cinfin.com/investors.
Cincinnati Financial (CINF) declared a 69-cent per-share quarterly cash dividend, payable on October 14, 2022. Shareholders on record as of September 16, 2022 will receive this dividend. This marks the company's 62nd consecutive year of increasing annual cash dividends, reflecting its robust financial strength. CEO Steven J. Johnston emphasized the company's commitment to shareholder returns through dividends as a sustainable practice.
Cincinnati Financial Corporation (CINF) reported a net loss of $808 million for Q2 2022, translating to $5.06 per share, a stark contrast to a net income of $703 million or $4.31 per share in Q2 2021. This decline is primarily attributed to a $928 million after-tax reduction in the fair value of equity securities. Furthermore, non-GAAP operating income decreased by 64% to $104 million, while the company’s book value per share fell to $66.30, a $15.42 decline year-to-date.
Cincinnati Financial Corporation (CINF) will discuss its second-quarter 2022 results in a live internet conference call on July 28, 2022, at 11 a.m. ET. The earnings report will be released on July 27, after Nasdaq trading closes. Interested parties can join the call via www.cinfin.com/investors. A replay will be available two hours post-call on the same website. For further inquiries, contact Stephanie Johnson at 513-870-2768.
Cincinnati Financial Corporation (CINF) announced on June 20, 2022, that Martin F. Hollenbeck, Chief Investment Officer, will retire on September 30, 2022. Hollenbeck, who joined in 1987, led the investment operations since 2008, significantly growing the firm's investment portfolio to over $23 billion. Steven A. Soloria, with nearly 30 years at the company, will take over the investment operations post-retirement. The transition aims to uphold the company’s long-term investment philosophy.
Cincinnati Financial Corporation (Nasdaq: CINF) declared a 69-cents per share quarterly cash dividend on May 7, 2022. This dividend, payable on July 15, 2022, recognizes shareholders on record as of June 17, 2022. CEO Steven J. Johnston emphasized a long-term capital management focus, supporting profitable growth and consistent dividend returns. He noted favorable long-term outlooks and stressed ongoing diversification in insurance operations, showcasing the company's strong financial position to reward shareholders.
Cincinnati Financial Corporation (Nasdaq: CINF) announced the results of its annual meeting held on May 7, 2022, where shareholders elected all directors for one-year terms, approved executive compensation, and ratified Deloitte & Touche LLP as the independent public accounting firm for 2022. Stephen M. Spray was elected president, while Steven J. Johnston remains chairman and CEO. The board consists of diverse members with extensive experience aimed at guiding long-term strategic plans and enhancing shareholder value.
Cincinnati Financial reported a significant net loss of $273 million, or $1.70 per share, for Q1 2022, compared to a net income of $620 million, or $3.82 per share, in Q1 2021. This decline was primarily driven by a $540 million after-tax reduction in the fair value of equity securities. However, non-GAAP operating income increased by 14% to $253 million, or $1.58 per share. The company's book value per share stood at $75.43, down from $81.72 at year-end, reflecting a 6.9% negative value creation ratio for Q1 2022.
Cincinnati Financial Corporation (Nasdaq: CINF) has scheduled a conference call on April 29, 2022, at 11 a.m. ET to discuss its first-quarter 2022 results. The earnings announcement will occur on April 28, after market close. Investors can access the live call through the company’s investor website. A replay will be available two hours post-call. Cincinnati Financial provides various insurance products through its subsidiary, The Cincinnati Insurance Company. Further details and reconciliations of non-GAAP measures will be accessible during the call.
Cincinnati Financial Corporation (NASDAQ:CINF) announced the availability of materials for its 2022 Annual Meeting of Shareholders, including the 2021 Annual Report on Form 10-K and the 2022 Notice and Proxy Statement. The meeting is scheduled for May 7, 2022, at 9:30 a.m. ET at the Cincinnati Art Museum, with a live webcast available for those unable to attend. Shareholders are set to receive voting instructions by mail or email starting March 9, 2022, encouraging online reading to reduce costs and environmental impact.
Cincinnati Financial reported a strong fourth-quarter 2021 net income of $1.470 billion ($9.04 per share), marking a 40% increase from $1.049 billion in Q4 2020. The full-year net income surged to $2.946 billion ($18.10 per share), up 142% year-over-year. Fourth-quarter non-GAAP operating income rose 22% to $320 million ($1.97 per share), while full-year figures increased 96% to $1.043 billion ($6.41 per share). Book value per share reached $81.72, up 21.9% from 2020. The company declared a cash dividend of $0.63 per share, a 5% increase.
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