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Cincinnati Financial Corporation reports recurring developments for a property and casualty insurance group that offers business, home and auto coverage through The Cincinnati Insurance Company, related standard market carriers and local independent insurance agencies. Company updates also cover surplus lines property and casualty insurance, life insurance, fixed annuities and investment activity.
News about CINF commonly centers on quarterly and annual operating results, underwriting performance, catastrophe losses, investment income, fair-value changes in equity securities, book value and capital management. Other recurring announcements include regular cash dividends, shareholder meeting results, board and officer appointments, proxy voting matters and investor presentation materials.
Cincinnati Financial Corporation (CINF) announced the expansion of its RideWell program to Illinois, New Jersey, and West Virginia, aimed at improving driver safety across all ages. In collaboration with Cambridge Mobile Telematics, this smartphone-based app provides insights into driving behaviors and rewards safe driving with discounts of up to 18% upon annual renewal. The app tracks risky behaviors such as speeding and phone use, fostering safer driving practices.
Cincinnati Financial Corporation (CINF) declared a 63-cent per share quarterly cash dividend at its board meeting on May 8, 2021. This dividend will be paid on July 15, 2021, to shareholders on record by June 17, 2021. CEO Steven J. Johnston emphasized their commitment to profitable growth while consistently returning capital to shareholders. With a track record of 60 years of dividend increases, the company aims to enhance financial flexibility.
Cincinnati Financial Corporation (CINF) announced preliminary voting results from its annual meeting held on May 8, 2021. Shareholders elected all 14 directors for one-year terms and approved executive compensation. Deloitte & Touche LLP was ratified as the independent public accounting firm for 2021. CEO Steven J. Johnston expressed gratitude to shareholders for their support, highlighting the board's diverse expertise aimed at enhancing shareholder value. The board also confirmed committee assignments for the upcoming year, adhering to Nasdaq independence standards.
Cincinnati Financial Corporation (Nasdaq: CINF) reported a strong first-quarter 2021, with net income reaching $620 million or $3.82 per share, rebounding from a net loss of $1.226 billion in the same period of 2020. The increase in net income was driven by a $1.761 billion rise in net investment gains and an $86 million boost in property casualty underwriting income. Non-GAAP operating income surged 62% to $222 million, equivalent to $1.37 per share. Book value per share rose to $69.16, reflecting an increase of $2.12 since year-end.
Cincinnati Financial Corporation (Nasdaq: CINF) has announced a live internet broadcast for its first-quarter 2021 earnings conference call, scheduled for April 29, 2021, at 11 a.m. ET. The earnings report will be released on April 28, after market close. Investors can access the call through the company's investor website and are encouraged to test their systems in advance. A replay will be available approximately two hours after the call ends. More information about the company's operations and financial measures will also be provided on their website.
Cincinnati Financial Corporation (NASDAQ:CINF) announced the availability of materials for its 2021 Annual Meeting of Shareholders. Relevant documents include the 2020 Annual Report and the 2021 Proxy Statement. The meeting will occur virtually on May 8 at 9:30 a.m. ET, with registration available until May 5. Shareholders are encouraged to vote beforehand.
Cincinnati Financial Corporation (CINF) reported fourth-quarter 2020 net income of $1.049 billion ($6.47/share), a 68% increase from $626 million in Q4 2019. However, full-year 2020 net income dropped 39% to $1.216 billion ($7.49/share) from $1.997 billion in 2019. The non-GAAP operating income for Q4 increased by 29% to $262 million, but full-year non-GAAP operating income fell 23% to $533 million. The book value per share rose 10.7% to $67.04 by year-end 2020.
Cincinnati Financial Corporation (CINF) announced on February 1, 2021 the appointments and promotions of several directors, officers, and counsel across its subsidiaries.
Key promotions include Marc J. Schambow as Chief Claims Officer and multiple new Vice President positions in areas such as Field Claims and Commercial Lines. The updates reflect the company's commitment to strengthening leadership in its Property Casualty and Life Insurance divisions.
These changes aim to enhance operational effectiveness and improve service delivery.
Cincinnati Financial Corporation (CINF) declared a 63-cent quarterly cash dividend, up from 60-cent previously, payable on April 15, 2021. Shareholders on record by March 17, 2021 will benefit. CEO Steven J. Johnston emphasized the company's strong position to reward shareholders through financial strength and growth initiatives. This dividend marks the continuation of a 60-year trend of increasing dividends, setting the stage for a 61st consecutive year of payment.
Cincinnati Financial Corporation (CINF) will host a conference call on February 11, 2021, at 11 a.m. ET to discuss its fourth-quarter and full-year 2020 results. The financial results will be released on February 10, after the Nasdaq trading session. Interested participants can join the call via the internet at www.cinfin.com/investors. A replay will be available approximately two hours after the live call. For more information, contact Stephanie Johnson at 513-870-2768.