Cincinnati Finl Corp Stock Price, News & Analysis

Cincinnati Financial Corporation (CINF) has scheduled a live internet broadcast of its conference call to discuss third-quarter 2020 results on October 27, 2020, at 11 a.m. ET. The results will be released on October 26, after market close. Interested parties can access the call through www.cinfin.com/investors, where a replay will also be available approximately two hours post-call. The company primarily offers various insurance products through its subsidiaries.

Cincinnati Financial Corporation (Nasdaq: CINF) announced the retirement of Martin J. Mullen, chief claims officer, at the end of the year. Mullen has been with the company since 1977 and led the claims teams since 2008, ensuring high-quality claims service. Marc J. Schambow will take over his responsibilities, bringing over 30 years of claims experience. The transition is expected to be smooth as Mullen and Schambow will work together before Mullen's departure.

Cincinnati Financial Corporation (CINF) will participate in the virtual 2020 KBW Insurance Conference on September 9, from 2:10 to 2:50 p.m. ET. The company's chairman and CEO, Steven J. Johnston, will represent Cincinnati Financial. The event will be streamed live and available for replay on the company’s investor website starting September 10 for 30 days. Cincinnati Financial specializes in business, home, and auto insurance, along with additional financial services through its subsidiaries. For more details, visit cinfin.com/investors.

Cincinnati Financial Corporation (Nasdaq: CINF) announced a quarterly cash dividend of 60 cents per share, payable on October 15, 2020, to shareholders of record as of September 16, 2020. This dividend marks the company's 60th consecutive year of increasing annual cash dividends, a feat achieved by only seven other U.S. public companies. The CEO emphasized the company's strong financial position and positive business trends that support ongoing shareholder rewards.

Cincinnati Financial Corporation (Nasdaq: CINF) announced key officer changes within its subsidiary, CFC Investment Company, on August 14, 2020. Steven J. Johnston, previously Chairman and CEO, has been appointed president. Michael J. Sewell, the Chief Financial Officer, assumes the role of Chief Operating Officer. Martin F. Hollenbeck remains a director. Johnston noted the changes follow the retirement of two senior leaders this year, allowing for a better alignment of CFC-I's reporting structure.

Cincinnati Financial Corporation (Nasdaq: CINF) appointed Nancy C. Benacci and Charles O. Schiff to its board of directors, expanding the board to 15 members. Benacci, with extensive financial expertise, was previously head of equity research at KeyBanc Capital Markets. Schiff has 18 years of insurance industry experience and serves as an executive vice president at an independent insurance agency. Both will also join the boards of the company's property casualty insurance subsidiaries. The board plans to reduce its size to 14 members at the next annual meeting, with Thomas R. Schiff not seeking reelection.

Cincinnati Financial Corporation (CINF) reported a significant net income increase for Q2 2020, reaching $909 million or $5.63 per share, compared to $428 million or $2.59 per share in Q2 2019. This surge was driven by an $825 million rise in fair value of equity securities. However, non-GAAP operating income decreased by 49% to $71 million or 44 cents per share. Despite a 7% increase in earned premiums, total revenues fell by 36% year-over-year. The book value per share declined by 5% to $57.56.

Cincinnati Financial Corporation (CINF) announced preliminary second-quarter results indicating pretax catastrophe losses of approximately $231 million, raising the combined ratio by 16.5 percentage points. Losses from multi-state storms reached about $50 million each, with additional losses from civil unrest totaling $29 million. The company also reported pandemic-related losses of $65 million. Estimated combined ratio for the quarter is projected to be between 102% and 104%, with net written premium growth between 5% and 6%.

Cincinnati Financial Corporation (Nasdaq: CINF) has scheduled a live conference call to discuss its second-quarter 2020 results on July 28, 2020, at 11 a.m. ET. Investors can access the live call via the company’s website after the Q2 earnings release on July 27. A replay will be available approximately two hours post-call. The discussion will include insights on financial metrics, and relevant GAAP reconciliations will also be provided online.