Cincinnati Financial (Nasdaq: CINF) Q2 net income jumps to $1.26B

Q: How did Cincinnati Financial (CINF) perform financially in Q2 2026?

Cincinnati Financial reported Q2 2026 net income of $1.255 billion , or $8.05 per diluted share, up from $685 million, or $4.34, a year earlier. Total revenues increased 32% to $4.274 billion , driven largely by higher investment gains and investment income.

Q: What was Cincinnati Financial’s (CINF) non-GAAP operating income in Q2 2026?

Non-GAAP operating income was $224 million , or $1.43 per share, in Q2 2026, down from $311 million, or $1.97, in Q2 2025. The $87 million decrease included an unfavorable $61 million after-tax impact from higher catastrophe losses.

Q: How did catastrophe losses affect Cincinnati Financial (CINF) in Q2 2026?

Catastrophe losses pushed the property-casualty combined ratio to 100.8% in Q2 2026, up from 94.9%. The combined ratio increase of 5.9 points included a 2.3‑point rise from catastrophe losses, with Ohio particularly impacted by severe weather.

Q: What was Cincinnati Financial’s (CINF) book value per share and value creation ratio?

Book value per share was $108.64 at June 30, 2026, up from $91.46 a year earlier. The first-half 2026 value creation ratio was 8.0% , compared with 4.6% for the same period of 2025, reflecting book value growth and dividends.

Q: How did Cincinnati Financial’s (CINF) investment portfolio perform in Q2 2026?

Pretax investment income rose 12% to $319 million , while pretax investment gains and losses, net, were $1.308 billion in Q2 2026. Total pretax investment gains, including changes in unrealized fixed‑maturity gains and losses, reached $1.382 billion for the quarter.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Cincinnati Financial Corporation reported second-quarter 2026 net income of $1.255 billion, or $8.05 per diluted share, up from $685 million, or $4.34, in the prior-year quarter, mainly after an $882 million after-tax increase in the fair value of equity securities still held. Total revenues rose 32% to $4.274 billion. Non-GAAP operating income declined to $224 million, or $1.43 per share, from $311 million, or $1.97, including a $61 million after-tax drag from higher catastrophe losses.

Property-casualty underwriting moved from profit to a small loss, with the combined ratio worsening to 100.8% from 94.9%, as catastrophe loss ratio rose and commercial lines’ combined ratio reached 104.1%. Personal lines improved to a 99.9% combined ratio and excess and surplus lines maintained a 90.5% combined ratio. After-tax investment income increased 12% to $264 million and pretax investment gains and losses, net, grew to $1.308 billion. Book value per share reached $108.64 at June 30, 2026, up from $91.46 a year earlier, and the first-half 2026 value creation ratio was 8.0%, compared with 4.6% for the same period of 2025.

Positive

$1.255 billion Q2 2026 net income, up 83% year over year, with total revenues rising 32% to $4.274 billion and investment gains and losses, net, increasing to $1.308 billion.
8.0% value creation ratio for the first six months of 2026 versus 4.6% a year earlier, as book value per share increased to $108.64 and dividends continued to be paid.

Negative

Property-casualty combined ratio deteriorated to 100.8% in Q2 2026 from 94.9%, including a 2.3‑point increase from catastrophe losses and a $115 million year-over-year decline in underwriting profit.
Q2 2026 non-GAAP operating income fell 28% to $224 million ($1.43 per share) from $311 million ($1.97), with commercial lines’ combined ratio worsening to 104.1%.

Insights

Analyzing...

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income Q2 2026: $1,255 million Non-GAAP operating income Q2 2026: $224 million Total revenues Q2 2026: $4,274 million +4 more

7 metrics

Net income Q2 2026 $1,255 million Three months ended June 30, 2026; up 83% from $685 million in Q2 2025

Non-GAAP operating income Q2 2026 $224 million Three months ended June 30, 2026; down 28% from $311 million in Q2 2025

Total revenues Q2 2026 $4,274 million Three months ended June 30, 2026; 32% increase from $3,248 million a year earlier

Property-casualty combined ratio Q2 2026 100.8% Consolidated property-casualty combined ratio versus 94.9% in Q2 2025

Book value per share $108.64 At June 30, 2026; up from $91.46 at June 30, 2025

Value creation ratio H1 2026 8.0% First six months of 2026 versus 4.6% for the same period of 2025

Investment gains and losses, net Q2 2026 $1,308 million Three months ended June 30, 2026; up 177% from $473 million in Q2 2025

Key Terms

non-GAAP operating income, combined ratio, value creation ratio, catastrophe losses, +1 more

5 terms

non-GAAP operating income financial

"Second-quarter 2026 non-GAAP operating income of $224 million, or $1.43 per share"

Non-GAAP operating income is a measure of a company's profit from its core business activities, calculated by excluding certain expenses or income that are not part of regular operations. It provides a clearer picture of how well the business is performing by focusing on ongoing operations, helping investors compare companies more consistently and make better-informed decisions.

combined ratio financial

"100.8% second-quarter 2026 property casualty combined ratio, increased from 94.9%"

The combined ratio is a way insurance companies measure how well they are doing by adding up all their costs and claims and comparing them to the money they earn from premiums. If the ratio is below 100%, it means the company is making a profit; if it's above 100%, they are losing money. It helps see if an insurance company is financially healthy or not.

value creation ratio financial

"8.0% value creation ratio for the first six months of 2026, compared with 4.6%"

A value creation ratio is a simple measure that compares the economic benefit a business generates to the resources or capital used to create it, showing how efficiently management turns inputs into returns for shareholders. Investors use it like a fuel-efficiency gauge for a car: higher values mean the company generates more profit or market value per dollar invested, signaling stronger potential for sustainable returns and better allocation of capital.

catastrophe losses financial

"increase of 2.3 points for losses from catastrophes"

Catastrophe losses are large, unexpected insurance payouts that follow major disasters such as hurricanes, earthquakes, wildfires or pandemics. They matter to investors because they can sharply reduce an insurer’s profits, drain reserves and force special financing or rate increases — much like a sudden flood overwhelming a city’s budget — and can also ripple through markets by affecting reinsurers, bondholders and stock prices.

excess and surplus lines financial

"Excess and Surplus Lines Insurance Results"

Excess and surplus lines refer to insurance coverage provided by specialized insurers for risks that standard insurers consider too unusual, high-risk, or hard to cover. These policies are important for investors because they help protect against rare or unexpected events that could impact financial stability or asset values, filling gaps where regular insurance options are unavailable.

Earnings Snapshot

Net income: $1,255 million; $8.05 diluted EPS

Quarter ended June 30, 2026

Net income $1,255 million; $8.05 diluted EPS Up 83% from $685 million; EPS up from $4.34 in Q2 2025

Non-GAAP operating income $224 million; $1.43 diluted EPS Down 28% from $311 million; EPS down from $1.97 in Q2 2025

Total revenues $4,274 million Increased 32% from $3,248 million in Q2 2025

Property-casualty combined ratio 100.8% Up 5.9 percentage points from 94.9% in Q2 2025

Book value per share $108.64 at June 30, 2026 19% higher than $91.46 at June 30, 2025

Value creation ratio (first six months) 8.0% Up from 4.6% for the first six months of 2025

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Understanding 8-K Material Events →

Available on EDGAR 07/27/2026 - 04:08 PM Accepted by SEC EDGAR 07/27/2026 - 04:07 PM

FAQ

How did Cincinnati Financial (CINF) perform financially in Q2 2026?

Cincinnati Financial reported Q2 2026 net income of $1.255 billion, or $8.05 per diluted share, up from $685 million, or $4.34, a year earlier. Total revenues increased 32% to $4.274 billion, driven largely by higher investment gains and investment income.

What was Cincinnati Financial’s (CINF) non-GAAP operating income in Q2 2026?

Non-GAAP operating income was $224 million, or $1.43 per share, in Q2 2026, down from $311 million, or $1.97, in Q2 2025. The $87 million decrease included an unfavorable $61 million after-tax impact from higher catastrophe losses.

How did catastrophe losses affect Cincinnati Financial (CINF) in Q2 2026?

Catastrophe losses pushed the property-casualty combined ratio to 100.8% in Q2 2026, up from 94.9%. The combined ratio increase of 5.9 points included a 2.3‑point rise from catastrophe losses, with Ohio particularly impacted by severe weather.

How did Cincinnati Financial’s (CINF) investment portfolio perform in Q2 2026?

Pretax investment income rose 12% to $319 million, while pretax investment gains and losses, net, were $1.308 billion in Q2 2026. Total pretax investment gains, including changes in unrealized fixed‑maturity gains and losses, reached $1.382 billion for the quarter.

How did Cincinnati Financial’s (CINF) insurance segments perform in Q2 2026?

In Q2 2026, consolidated property-casualty net written premiums grew 3% to $2.825 billion. Commercial lines’ combined ratio increased to 104.1%, personal lines improved to 99.9%, and excess and surplus lines achieved a 90.5% combined ratio, reflecting profitable underwriting.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report: July 27, 2026

(Date of earliest event reported)

CINCINNATI FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)


Ohio	0-4604		31-0746871
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)

6200 S. Gilmore Road	Fairfield,	Ohio	45014‑5141
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (513) 870-2000

N/A

(Former name or former address, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	CINF	Nasdaq Global Select Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§203.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02 Results of Operations and Financial Condition.

On July 27, 2026, Cincinnati Financial Corporation issued the attached news release titled “Cincinnati Financial Reports Second-Quarter 2026 Results,” furnished as Exhibit 99.1 hereto and incorporated herein by reference. On July 27, 2026, the company also distributed the attached information titled “Supplemental Financial Data,” furnished as Exhibit 99.2 hereto and incorporated herein by reference.

This report should not be deemed an admission as to the materiality of any information contained in the news releases or supplemental financial data.

In accordance with general instruction B.2 of Form 8-K, the information furnished in this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 — News release dated July 27, 2026, titled "Cincinnati Financial Reports Second-Quarter 2026 Results"

Exhibit 99.2 — Supplemental Financial Data for the period ending June 30, 2026 distributed July 27, 2026

Exhibit 104 – The cover page from this Current Report on Form 8-K, formatted as Inline XBRL

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			CINCINNATI FINANCIAL CORPORATION



Date: July 27, 2026			/S/ Michael J. Sewell
			Michael J. Sewell, CPA
			Chief Financial Officer, Executive Vice President and Treasurer
			(Principal Accounting Officer)


						The Cincinnati Insurance Company n The Cincinnati Indemnity Company The Cincinnati Casualty Company n The Cincinnati Specialty Underwriters Insurance Company The Cincinnati Life Insurance Company n CFC Investment Company n CSU Producer Resources Inc. Cincinnati Global Underwriting Ltd. n Cincinnati Global Underwriting Agency Ltd.

Investor Contact: Andrew F. Gossard, 513-870-2768

CINF-IR@cinfin.com

Media Contact: Betsy E. Ertel, 513-603-5323

Media_Inquiries@cinfin.com

Cincinnati Financial Reports Second-Quarter 2026 Results

Cincinnati, July 27, 2026 – Cincinnati Financial Corporation (Nasdaq: CINF) today reported:

•Second-quarter 2026 net income of $1.255 billion, or $8.05 per share, compared with $685 million, or $4.34 per share, in the second quarter of 2025, after recognizing an $882 million second-quarter 2026 after-tax increase in the fair value of equity securities still held.

•Second-quarter 2026 non-GAAP operating income* of $224 million, or $1.43 per share, compared with $311 million, or $1.97 per share, in the second quarter of last year. The decrease of $87 million included an unfavorable effect of $61 million from an increase in after-tax catastrophe losses.

•$570 million increase in second-quarter 2026 net income, compared with second-quarter 2025, including the effects of after-tax net increases of $657 million from net investment gains and $28 million from investment income, partially offset by a decrease of $115 million from property casualty underwriting profit.

•$108.64 book value per share at June 30, 2026, up $6.29 since year-end.

•8.0% value creation ratio for the first six months of 2026, compared with 4.6% for the same period of 2025.

Financial Highlights


(Dollars in millions, except per share data)	Three months ended June 30,						Six months ended June 30,
		2026		2025		% Change		2026		2025		% Change
Revenue Data
Earned premiums		$	2,635	$	2,480	6		$	5,239	$	4,824	9
Investment income, net of expenses		319		285		12		637		565		13
Total revenues		4,274		3,248		32		7,137		5,814		23
Income Statement Data
Net income		$	1,255	$	685	83		$	1,529	$	595	157
Investment gains and losses, after-tax		1,031		374		176		975		321		204

Non-GAAP operating income*		$	224	$	311	(28)		$	554	$	274	102
Per Share Data (diluted)
Net income		$	8.05	$	4.34	85		$	9.78	$	3.77	159
Investment gains and losses, after-tax		6.62		2.37		179		6.24		2.03		207

Non-GAAP operating income*		$	1.43	$	1.97	(27)		$	3.54	$	1.74	103

Book value								$	108.64	$	91.46	19
Cash dividend declared		$	0.94	$	0.87	8		$	1.88	$	1.74	8
Diluted weighted average shares outstanding		155.7		157.8		(1)		156.3		157.8		(1)

* The Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures section defines and reconciles measures presented in this release that are not based on U.S. Generally Accepted Accounting Principles.

Forward-looking statements and related assumptions are subject to the risks outlined in the company’s safe harbor statement.

CINF 2Q26 Release 1

Insurance Operations Highlights

•100.8% second-quarter 2026 property casualty combined ratio, increased from 94.9% for the second quarter of 2025.

•3% growth in second-quarter net written premiums, including price increases, premium growth initiatives and a higher level of insured exposures.

•$353 million second-quarter 2026 property casualty new business written premiums, down 13%. Agencies appointed since the beginning of 2025 contributed $31 million or 9% of total new business written premiums.

•$30 million second-quarter 2026 life insurance subsidiary net income, up $4 million compared with the second quarter of 2025, and 5% growth in second-quarter 2026 term life insurance earned premiums.

Investment and Balance Sheet Highlights

•12% or $34 million increase in second-quarter 2026 pretax investment income, including a 14% increase in bond interest income and a 3% increase in stock portfolio dividends.

•Three-month increase of 4% in fair value of total investments at June 30, 2026, including a 2% increase for the bond portfolio and a 5% increase for the stock portfolio.

•$5.689 billion parent company cash and marketable securities at June 30, 2026, up 2% from year-end 2025.

Investment Income Leads Second-Quarter Profits

Stephen M. Spray, president and chief executive officer, commented: “Investment income increased nicely, producing our main source of profits in the second quarter and bringing our total non-GAAP operating income to $554 million for the first half of the year.

“Turning to our insurance business, elevated catastrophe losses played a large part in an uptick in our combined ratio, coming in just shy of breakeven at 100.8% for the quarter. While not the result of any single storm, our field and headquarters claims associates have been busy, bringing compassion and expertise to our agents and policyholders across the country and close to home. Ohio was particularly impacted by bad weather this Spring with catastrophe losses reaching nearly four times higher than our 5-year second-quarter average for the state.

“On a six-month basis, we recorded a profitable 98.2% combined ratio. We are optimistic that further maturing of our plans to increase both product and geographic diversification will continue to help mute the impacts of catastrophe losses in any one quarter.”

Focused on Outstanding Service and Pricing Discipline

“Consolidated net written premiums for the quarter and the first half of the year increased 3% and 5%, respectively. When market competition increases, our hallmark of personal service combines with data-driven analytics to support the ability of our agents to successfully retain their best clients.

“The power of segmentation in this market isn’t simply about knowing when to walk away from an account that is underpriced in our view. It’s also important that we work with our agents to offer advanced renewal quotes on accounts we believe are adequately priced.

“To help keep our pipeline of opportunities full, we continue to appoint new agencies in geographies where we see the best prospects for profitable growth. So far this year, we’ve appointed more than 200 agencies. With total agency relationships still under 3,000, we have a lot of runway to fuel growth without dampening the exclusivity of a Cincinnati contract that our current agents enjoy.”

Book Value Reaches New Record

“At June 30, our book value again reached a record high, increasing 6% since December 31, 2025, to $108.64. Consolidated cash and total investments also reached a new high, nearly eclipsing $35 billion.

“Our ample capital allows us to execute on our long-term strategies and, at the same time, pay dividends to shareholders. Our value creation ratio, which considers the dividends we pay as well as growth in book value, was 8.0% for the first half of 2026.”

CINF 2Q26 Release 2

Insurance Operations Highlights

Consolidated Property Casualty Insurance Results


(Dollars in millions)	Three months ended June 30,								Six months ended June 30,
		2026			2025			% Change		2026			2025			% Change
Earned premiums		$	2,548		$	2,397		6		$	5,067		$	4,661		9
Fee revenues		3			3			0		7			7			0
Total revenues		2,551			2,400			6		5,074			4,668			9

Loss and loss expenses		1,808			1,587			14		3,475			3,474			0
Underwriting expenses		761			685			11		1,502			1,364			10
Underwriting profit (loss)		$	(18)		$	128		nm		$	97		$	(170)		nm

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Loss and loss expenses		71.0		%	66.3		%	4.7		68.6		%	74.5		%	(5.9)
Underwriting expenses		29.8			28.6			1.2		29.6			29.3			0.3
Combined ratio		100.8		%	94.9		%	5.9		98.2		%	103.8		%	(5.6)

								% Change								% Change
Agency renewal written premiums		$	2,254		$	2,135		6		$	4,299		$	4,047		6
Agency new business written premiums		353			404			(13)		692			787			(12)


Other written premiums		218			194			12		502			394			27
Net written premiums		$	2,825		$	2,733		3		$	5,493		$	5,228		5

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Current accident year before catastrophe losses		58.3		%	56.5		%	1.8		58.2		%	58.4		%	(0.2)
Current accident year catastrophe losses		14.4			12.4			2.0		12.8			19.4			(6.6)
Prior accident years before catastrophe losses		(1.8)			(2.4)			0.6		(2.2)			(2.3)			0.1
Prior accident years catastrophe losses		0.1			(0.2)			0.3		(0.2)			(1.0)			0.8
Loss and loss expense ratio		71.0		%	66.3		%	4.7		68.6		%	74.5		%	(5.9)

Current accident year combined ratio before catastrophe losses		88.1		%	85.1		%	3.0		87.8		%	87.7		%	0.1

•$92 million or 3 percent growth of second-quarter 2026 property casualty net written premiums, reflecting premium growth initiatives, price increases and a higher level of insured exposures. The contribution to second-quarter growth from Cincinnati Re® and Cincinnati Global Underwriting Ltd.SM in total was approximately 1 percentage point.

•$51 million decrease in second-quarter 2026 new business premiums written by agencies, due to our personal lines insurance segment. The $51 million decrease included a $18 million increase in production from agencies appointed since the beginning of 2025.

•220 new agency appointments in the first six months of 2026, including 36 that market only our personal lines products.

•5.9 percentage-point second-quarter 2026 combined ratio increase, including an increase of 2.3 points for losses from catastrophes.

•5.6 percentage-point six-month 2026 combined ratio improvement, including a decrease of 5.8 points from lower catastrophe losses.

•1.7 percentage-point second-quarter 2026 benefit from favorable prior accident year reserve development of $42 million, compared with 2.6 points or $63 million for second-quarter 2025.

•2.4 percentage-point six-month 2026 benefit from favorable prior accident year reserve development, compared with 3.3 points for the first six months of 2025.

•0.2 percentage-point improvement in the six-month 2026 ratio for current accident year loss and loss expenses before catastrophes.

•0.3 percentage-point increase in the underwriting expense ratio for the first six months of 2026, compared with the same period of 2025.

CINF 2Q26 Release 3

Commercial Lines Insurance Results


(Dollars in millions)	Three months ended June 30,								Six months ended June 30,
		2026			2025			% Change		2026			2025			% Change
Earned premiums		$	1,251		$	1,212		3		$	2,492		$	2,391		4
Fee revenues		1			—			nm		2			2			0
Total revenues		1,252			1,212			3		2,494			2,393			4

Loss and loss expenses		910			767			19		1,757			1,502			17
Underwriting expenses		391			358			9		768			707			9
Underwriting profit (loss)		$	(49)		$	87		nm		$	(31)		$	184		nm

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Loss and loss expenses		72.8		%	63.3		%	9.5		70.5		%	62.8		%	7.7
Underwriting expenses		31.3			29.6			1.7		30.8			29.6			1.2
Combined ratio		104.1		%	92.9		%	11.2		101.3		%	92.4		%	8.9

								% Change								% Change
Agency renewal written premiums		$	1,146		$	1,116		3		$	2,330		$	2,268		3
Agency new business written premiums		208			200			4		413			403			2
Other written premiums		(27)			(26)			(4)		(57)			(56)			(2)
Net written premiums		$	1,327		$	1,290		3		$	2,686		$	2,615		3

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Current accident year before catastrophe losses		62.2		%	59.6		%	2.6		62.5		%	60.3		%	2.2
Current accident year catastrophe losses		12.0			7.2			4.8		10.8			6.1			4.7
Prior accident years before catastrophe losses		(1.3)			(3.3)			2.0		(2.7)			(2.9)			0.2
Prior accident years catastrophe losses		(0.1)			(0.2)			0.1		(0.1)			(0.7)			0.6
Loss and loss expense ratio		72.8		%	63.3		%	9.5		70.5		%	62.8		%	7.7

Current accident year combined ratio before catastrophe losses		93.5		%	89.2		%	4.3		93.3		%	89.9		%	3.4

•$37 million or 3% growth in second-quarter 2026 commercial lines net written premiums, primarily due to higher agency renewal premiums. Three percent growth in six-month net written premiums.

•$30 million or 3% increase in second-quarter renewal written premiums, with commercial lines average renewal pricing increases near the high end of the low-single-digit percent range.

•$8 million or 4% increase in second-quarter 2026 new business premiums written by agencies, as we continue to carefully underwrite each policy in a highly competitive market.

•11.2 percentage-point second-quarter 2026 combined ratio increase, including an increase of 4.9 points for losses from catastrophes.

•8.9 percentage-point six-month 2026 combined ratio increase, including an increase of 5.3 points from higher catastrophe losses.

•1.4 percentage-point second-quarter 2026 benefit from favorable prior accident year reserve development of $17 million, compared with 3.5 points or $42 million for second-quarter 2025.

•2.8 percentage-point six-month 2026 benefit from favorable prior accident year reserve development, compared with 3.6 points for the first six months of 2025.

CINF 2Q26 Release 4

Personal Lines Insurance Results


(Dollars in millions)	Three months ended June 30,								Six months ended June 30,
		2026			2025			% Change		2026			2025			% Change
Earned premiums		$	880		$	804		9		$	1,753		$	1,502		17
Fee revenues		1			2			(50)		3			3			0
Total revenues		881			806			9		1,756			1,505			17

Loss and loss expenses		638			598			7		1,245			1,444			(14)
Underwriting expenses		242			222			9		480			432			11
Underwriting profit (loss)		$	1		$	(14)		nm		$	31		$	(371)		nm

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Loss and loss expenses		72.4		%	74.4		%	(2.0)		71.0		%	96.1		%	(25.1)
Underwriting expenses		27.5			27.6			(0.1)		27.4			28.8			(1.4)
Combined ratio		99.9		%	102.0		%	(2.1)		98.4		%	124.9		%	(26.5)

								% Change								% Change
Agency renewal written premiums		$	943		$	866		9		$	1,669		$	1,500		11
Agency new business written premiums		78			141			(45)		154			268			(43)
Other written premiums		(31)			(27)			(15)		(58)			(116)			50
Net written premiums		$	990		$	980		1		$	1,765		$	1,652		7

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Current accident year before catastrophe losses		52.3		%	51.3		%	1.0		52.8		%	56.9		%	(4.1)
Current accident year catastrophe losses		21.4			25.4			(4.0)		19.2			41.7			(22.5)
Prior accident years before catastrophe losses		(2.1)			(0.7)			(1.4)		(1.3)			(0.8)			(0.5)
Prior accident years catastrophe losses		0.8			(1.6)			2.4		0.3			(1.7)			2.0
Loss and loss expense ratio		72.4		%	74.4		%	(2.0)		71.0		%	96.1		%	(25.1)

Current accident year combined ratio before catastrophe losses		79.8		%	78.9		%	0.9		80.2		%	85.7		%	(5.5)

•$10 million or 1% growth in second-quarter 2026 personal lines net written premiums, including higher agency renewal written premiums that benefited from rate increases in the high-single-digit percent range, partially offset by lower new business premiums and policy retention in the upper-80% range that reflect pricing discipline. Seven percent growth in six-month net written premiums.

•$63 million or 45% decrease in second-quarter 2026 new business premiums written by agencies, as we continue to carefully underwrite each policy in a highly competitive market.

•2.1 percentage-point second-quarter 2026 combined ratio improvement, including a decrease of 1.6 points for losses from catastrophes.

•26.5 percentage-point six-month 2026 combined ratio improvement, including a decrease of 20.5 points from lower catastrophe losses.

•1.3 percentage-point second-quarter 2026 favorable prior accident year reserve development of $11 million, compared with 2.3 points or $19 million for second-quarter 2025.

•1.0 percentage-point six-month 2026 benefit from favorable prior accident year reserve development, compared with 2.5 points for the first six months of 2025.

CINF 2Q26 Release 5

Excess and Surplus Lines Insurance Results


(Dollars in millions)	Three months ended June 30,								Six months ended June 30,
		2026			2025			% Change		2026			2025			% Change
Earned premiums		$	189		$	174		9		$	369		$	336		10
Fee revenues		1			1			0		2			2			0
Total revenues		190			175			9		371			338			10

Loss and loss expenses		118			110			7		228			209			9
Underwriting expenses		53			49			8		103			93			11
Underwriting profit		$	19		$	16		19		$	40		$	36		11

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Loss and loss expenses		62.5		%	63.5		%	(1.0)		61.8		%	62.3		%	(0.5)
Underwriting expenses		28.0			27.6			0.4		28.1			27.5			0.6
Combined ratio		90.5		%	91.1		%	(0.6)		89.9		%	89.8		%	0.1

								% Change								% Change
Agency renewal written premiums		$	165		$	153		8		$	300		$	279		8
Agency new business written premiums		67			63			6		125			116			8
Other written premiums		(13)			(14)			7		(24)			(25)			4
Net written premiums		$	219		$	202		8		$	401		$	370		8

Ratios as a percent of earned premiums:								Pt. Change								Pt. Change
Current accident year before catastrophe losses		64.6		%	64.9		%	(0.3)		64.6		%	65.2		%	(0.6)
Current accident year catastrophe losses		0.9			1.6			(0.7)		1.0			1.2			(0.2)
Prior accident years before catastrophe losses		(2.9)			(2.7)			(0.2)		(3.5)			(3.8)			0.3
Prior accident years catastrophe losses		(0.1)			(0.3)			0.2		(0.3)			(0.3)			0.0
Loss and loss expense ratio		62.5		%	63.5		%	(1.0)		61.8		%	62.3		%	(0.5)

Current accident year combined ratio before catastrophe losses		92.6		%	92.5		%	0.1		92.7		%	92.7		%	0.0

•$17 million or 8% growth in second-quarter 2026 excess and surplus lines net written premiums, including higher agency renewal written premiums that benefited from price increases averaging in the low-single-digit percent range. Eight percent growth in six-month net written premiums.

•$4 million or 6% increase in second-quarter 2026 new business premiums written by agencies, as we continue to carefully underwrite each policy in a highly competitive market.

•0.6 percentage-point second-quarter 2026 combined ratio improvement and an increase of 0.1 points in the six-month 2026 combined ratio, largely due to lower ratios for current accident year loss and loss expenses including catastrophe losses, partially offset by higher ratios for underwriting expenses.

•3.0 percentage-point second-quarter 2026 benefit from favorable prior accident year reserve development of $6 million, compared with 3.0 points or $5 million for second-quarter 2025.

•3.8 percentage-point six-month 2026 benefit from favorable prior accident year reserve development, compared with 4.1 points for the first six months of 2025.

CINF 2Q26 Release 6

Life Insurance Subsidiary Results


(Dollars in millions)	Three months ended June 30,						Six months ended June 30,
		2026		2025		% Change		2026		2025		% Change
Term life insurance		$	64	$	61	5		$	125	$	118	6
Whole life insurance		13		13		0		27		26		4
Universal life and other		10		9		11		20		19		5
Earned premiums		87		83		5		172		163		6
Investment income, net of expenses		54		49		10		108		99		9
Investment gains and losses, net		(1)		(4)		75		(1)		(5)		80
Fee revenues		2		2		0		3		3		0
Total revenues		142		130		9		282		260		8
Contract holders’ benefits incurred		79		73		8		163		154		6
Underwriting expenses incurred		25		24		4		48		47		2
Total benefits and expenses		104		97		7		211		201		5
Net income before income tax		38		33		15		71		59		20
Income tax provision		8		7		14		15		12		25
Net income of the life insurance subsidiary		$	30	$	26	15		$	56	$	47	19

•$4 million increase in second-quarter 2026 earned premiums, including a 5% increase for term life insurance, our largest life insurance product line.

•$9 million increase in six-month 2026 life insurance subsidiary net income, primarily due to more favorable mortality experience, increased investment income and increased earned premiums, partially offset by less favorable impacts from the unlocking of interest rate and other actuarial assumptions.

•$23 million or 2% six-month 2026 increase, to $1.490 billion, in GAAP shareholders’ equity for the life insurance subsidiary, primarily from net income that was partially offset by an increase in unrealized investment losses on fixed-maturity securities.

CINF 2Q26 Release 7

Investment and Balance Sheet Highlights

Investments Results


(Dollars in millions)	Three months ended June 30,							Six months ended June 30,
	2026			2025			% Change		2026			2025			% Change
Investment income, net of expenses	$	319		$	285		12		$	637		$	565		13
Investment interest credited to contract holders	(33)			(31)			(6)		(65)			(63)			(3)
Investment gains and losses, net	1,308			473			177		1,238			406			205
Investments profit	$	1,594		$	727		119		$	1,810		$	908		99

Investment income:
Interest	$	244		$	214		14		$	479		$	424		13
Dividends	72			70			3		148			137			8
Other	8			5			60		20			12			67
Less investment expenses	5			4			25		10			8			25
Investment income, pretax	319			285			12		637			565			13
Less income taxes	55			49			12		110			97			13
Total investment income, after-tax	$	264		$	236		12		$	527		$	468		13

Investment returns:
Average invested assets plus cash and cash equivalents	$	34,421		$	30,500				$	34,313		$	30,468
Average yield pretax	3.71		%	3.74		%			3.71		%	3.71		%
Average yield after-tax	3.07			3.10					3.07			3.07
Effective tax rate	17.4			17.2					17.3			17.2
Fixed-maturity returns:
Average amortized cost	$	19,209		$	17,372				$	18,938		$	17,334
Average yield pretax	5.08		%	4.93		%			5.06		%	4.89		%
Average yield after-tax	4.14			4.02					4.12			4.00
Effective tax rate	18.5			18.4					18.5			18.3

•$34 million or 12% rise in second-quarter 2026 pretax investment income, including a 14% increase in interest income from fixed-maturity securities and a 3% increase in equity portfolio dividends.

•$1.382 billion in second-quarter 2026 pretax total investment gains, summarized in the table below. Changes in unrealized gains or losses reported in other comprehensive income, in addition to investment gains and losses reported in net income, are useful for evaluating total investment performance over time and are major components of changes in book value and the value creation ratio.


(Dollars in millions)	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Investment gains and losses on equity securities sold, net	$	183	$	(1)	$	223	$	(3)
Unrealized gains and losses on equity securities still held, net	1,117		481		1,006		411
Investment gains and losses on fixed-maturity securities, net	5		(12)		5		(14)
Other	3		5		4		12
Subtotal - investment gains and losses reported in net income	1,308		473		1,238		406

Change in unrealized investment gains and losses - fixed maturities and short-term	74		28		(146)		95
Total	$	1,382	$	501	$	1,092	$	501

CINF 2Q26 Release 8

Balance Sheet Highlights


(Dollars in millions, except share data)	At June 30,				At December 31,
		2026				2025
Total investments		$	33,153			$	31,783
Total assets		43,231				41,002
Short-term debt		17				25
Long-term debt		791				790
Shareholders’ equity		16,671				15,911
Book value per share		108.64				102.35
Debt-to-total-capital ratio		4.6		%		4.9		%

•$34.903 billion in consolidated cash and total investments at June 30, 2026, an increase of 5% from $33.214 billion at year-end 2025.

•$18.954 billion bond portfolio at June 30, 2026, with an average rating of A2/A. Fair value increased $409 million during the second quarter of 2026, including $316 million in net purchases of fixed-maturity securities.

•$13.194 billion equity portfolio was 39.8% of total investments, including $8.907 billion in appreciated value before taxes at June 30, 2026. Second-quarter 2026 increase in fair value of $625 million, including $678 million in net sales of equity securities.

•$7.04 second-quarter 2026 increase in book value per share, including an addition of $1.46 of net income before investment gains, $7.09 from investment portfolio net investment gains or changes in unrealized gains for fixed-maturity securities, partially offset by $0.57 for other items and $0.94 from dividends declared to shareholders.

•Value creation ratio of 8.0% for the first six months of 2026, including 3.5% from net income before investment gains, which includes underwriting and investment income, and 6.2% from investment gains for equity securities, partially offset by 0.7% from changes in unrealized gains for fixed-maturity securities and 1.0% for other items.

For additional information or to register for our conference call webcast, please visit investors.cinfin.com.

About Cincinnati Financial

Cincinnati Financial Corporation offers primarily business, home and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of our other subsidiaries, including life insurance, fixed annuities and surplus lines property and casualty insurance. For additional information about the company, please visit cinfin.com.

Mailing Address: Street Address:

P.O. Box 145496 6200 South Gilmore Road

Cincinnati, Ohio 45250-5496 Fairfield, Ohio 45014-5141

CINF 2Q26 Release 9

Safe Harbor Statement

Our business is subject to certain risks and uncertainties that may cause actual results to differ materially from those suggested by forward-looking statements. Any forward-looking statements contained herein, are based upon our current estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words like “seek,” “expect,” “will,” “should,” “could,” “might,” “anticipate,” “believe,” “estimate,” “intend,” “likely,” “future,” or other similar expressions. Forward-looking statements speak only as of the date they were made; we assume no obligation to update such statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements include, but are not limited to:

Insurance-Related Risks

•Risks and uncertainties associated with our loss reserves or actual claim costs exceeding reserves

•Increased frequency and/or severity of claims or development of claims that are unforeseen at the time of policy issuance

•Unusually high levels of catastrophe losses due to risk concentrations or changes in weather patterns, environmental events, war or political unrest, terrorism incidents, cyberattacks, civil unrest or other causes; and our ability to manage catastrophe risk

•Risks associated with analytical models in key areas such as underwriting, pricing, capital management, reserving, investments, reinsurance, and catastrophe risk management

•Inadequate estimates or assumptions, or reliance on third-party data used for critical accounting estimates

•Events or conditions that could weaken or harm our relationships with our independent agencies and hamper opportunities to add new agencies, resulting in limitations on our opportunities for growth

•Mergers, acquisitions, and other consolidations of agencies that result in a concentration of a significant amount of premium in one agency or agency group and/or alter our competitive advantages

•Our inability to manage business opportunities, growth prospects, and expenses for our ongoing operations

•Changing consumer insurance-buying habits

•The inability to obtain adequate ceded reinsurance on acceptable terms, for acceptable amounts, and from financially strong reinsurers; and the potential for nonpayment or delay in payment by reinsurers

•Domestic and global events, such as the wars in Ukraine and in the Middle East, future pandemics, inflationary trends, changes in U.S. trade and tariff policy, and disruptions in the banking and financial services industry, resulting in insurance losses, capital market or credit market uncertainty, followed by prolonged periods of economic instability or recession, that lead to:

◦Securities market disruption or volatility and related effects such as decreased economic activity and continued supply chain disruptions that affect our investment portfolio and book value

◦Significant or prolonged decline in the fair value of securities and impairment of the assets

◦Significant decline in investment income due to reduced or eliminated dividend payouts from securities

◦Significant rise in losses from surety or director and officer policies written for financial institutions or other insured entities or in losses from policies written by Cincinnati Re or Cincinnati Global

◦An unusually high level of claims in our insurance or reinsurance operations that increase litigation-related expenses

◦Decreased premium revenue and cash flow from disruption to our distribution channel of independent agents, consumer self-isolation, travel limitations, business restrictions and decreased economic activity

◦The inability of our workforce, agencies, or vendors to perform necessary business functions

Financial, Economic, and Investment Risks

•Declines in overall stock market values negatively affecting our equity portfolio and book value

•Downgrades in our financial strength ratings

•Interest rate fluctuations or other factors that could significantly affect:

◦Our ability to generate growth in investment income

◦Values of our fixed-maturity investments and accounts in which we hold bank-owned life insurance contract assets

◦Our traditional life policy reserves

•Economic volatility and illiquidity associated with our alternative investments in private equity, private credit, real property, and limited partnerships

CINF 2Q26 Release 10

•Failure to comply with covenants and other requirements under our credit facilities, senior debt, and other debt obligations

•Recession, prolonged elevated inflation, or other economic conditions resulting in lower demand for insurance products or increased payment delinquencies

•The inability of our subsidiaries to pay dividends consistent with current or past levels impacting our ability to pay shareholder dividends or repurchase shares

General Business, Technology, and Operational Risks

•Ineffective information technology systems or failing to develop and implement improvements in technology

•Difficulties with technology or data security breaches, including cyberattacks, could negatively affect our, or our agents’, ability to conduct business; disrupt our relationships with agents, policyholders, and others; cause reputational damage, mitigation expenses, data loss, and expose us to liability

•Difficulties with our operations and technology that may negatively impact our ability to conduct business, including cloud-based data information storage, data security, remote working capabilities, and/or outsourcing relationships and third-party operations and data security

•Disruption of the insurance market caused by technology innovations such as driverless cars that could decrease consumer demand for insurance products

•Delays, inadequate data developed internally or from third parties, or performance inadequacies from ongoing development and implementation of underwriting and pricing models and methods, including usage-based insurance methods, automation, artificial intelligence, or technology projects and enhancements expected to increase our efficiency, pricing accuracy, underwriting profit, and competitiveness

•Intense competition, and the impact of innovation, emerging technologies, artificial intelligence and changing customer preferences on the insurance industry and the markets in which we operate, could harm our ability to maintain or increase our business volumes and profitability

•Inability to defer policy acquisition costs for any business segment if pricing and loss trends would lead management to conclude that the segment could not achieve sustainable profitability

•Unforeseen departure of certain executive officers or other key employees that could interrupt progress toward important strategic goals or diminish the effectiveness of certain longstanding relationships with insurance agents and others

•Our inability, or the inability of our independent agents, to attract and retain personnel

•Events, such as a pandemic, an epidemic, natural catastrophe, or terrorism, which could hamper our ability to assemble our workforce, work effectively in a remote environment, or other failures of business continuity or disaster recovery programs

Regulatory, Compliance, and Legal Risks

•Actions of insurance departments, state attorneys general or other regulatory agencies, including a change to a federal system of regulation from a state-based system, that:

◦Impose new obligations on us that increase our expenses or change the assumptions underlying our critical accounting estimates

◦Place the insurance industry under greater regulatory scrutiny or result in new statutes, rules, and regulations

◦Restrict our ability to exit or reduce writings of unprofitable coverages or lines of business

◦Increase assessments for guaranty funds, other insurance‑related assessments, or mandatory reinsurance arrangements; or that impair our ability to recover such assessments through future surcharges or other rate changes

◦Increase our provision for federal income taxes due to changes in tax laws, regulations, or interpretations

◦Increase other expenses

◦Limit our ability to set fair, adequate, and reasonable rates

◦Restrict our ability to cancel policies

◦Impose new underwriting standards

◦Place us at a disadvantage in the marketplace

◦Restrict our ability to execute our business model, including the way we compensate agents

CINF 2Q26 Release 11

•Adverse outcomes from litigation, environmental claims, mass torts or administrative proceedings, including effects of social inflation and third-party litigation funding on the size and frequency of litigation awards

•Events or actions, including unauthorized intentional circumvention of controls, which reduce our future ability to maintain effective internal control over financial reporting under the Sarbanes-Oxley Act of 2002

•Effects of changing social, global, economic, and regulatory environments

•Additional measures affecting corporate financial reporting and governance that can affect the market value of our common stock

Risks and uncertainties are further discussed in other filings with the Securities and Exchange Commission, including our 2025 Annual Report on Form 10-K, Item 1A, Risk Factors, Page 30.

* * *

CINF 2Q26 Release 12

Cincinnati Financial Corporation

Condensed Consolidated Balance Sheets and Statements of Income (unaudited)


(Dollars in millions)					June 30,		December 31,
					2026		2025
Assets
Investments					$	33,153	$	31,783
Cash and cash equivalents					1,750		1,431

Premiums receivable					3,546		3,142
Reinsurance recoverable					633		655
Deferred policy acquisition costs					1,442		1,344
Other assets					2,707		2,647
Total assets					$	43,231	$	41,002

Liabilities
Insurance reserves					$	15,465	$	14,499
Unearned premiums					5,724		5,254
Deferred income tax					1,861		1,833
Long-term debt and lease obligations					859		861
Other liabilities					2,651		2,644
Total liabilities					26,560		25,091

Shareholders’ Equity
Common stock and paid-in capital					1,979		1,958
Retained earnings					17,958		16,719
Accumulated other comprehensive loss					(135)		(34)
Treasury stock					(3,131)		(2,732)
Total shareholders' equity					16,671		15,911
Total liabilities and shareholders' equity					$	43,231	$	41,002

(Dollars in millions, except per share data)	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Revenues
Earned premiums	$	2,635	$	2,480	$	5,239	$	4,824
Investment income, net of expenses	319		285		637		565
Investment gains and losses, net	1,308		473		1,238		406
Other revenues	12		10		23		19
Total revenues	4,274		3,248		7,137		5,814

Benefits and Expenses
Insurance losses and contract holders' benefits	1,887		1,660		3,638		3,628
Underwriting, acquisition and insurance expenses	786		709		1,550		1,411
Interest expense	14		14		27		27
Other operating expenses	11		10		20		21
Total benefits and expenses	2,698		2,393		5,235		5,087

Income Before Income Taxes	1,576		855		1,902		727

Provision for Income Taxes	321		170		373		132

Net Income	$	1,255	$	685	$	1,529	$	595

Per Common Share:
Net income — basic	$	8.14	$	4.38	$	9.88	$	3.81
Net income — diluted	8.05		4.34		9.78		3.77

CINF 2Q26 Release 13

Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures

(See attached tables for reconciliations; additional prior-period reconciliations available at investors.cinfin.com.)

Cincinnati Financial Corporation prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). Statutory data is prepared in accordance with statutory accounting rules for insurance company regulation in the United States of America as defined by the National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual, and therefore is not reconciled to GAAP data.

Management uses certain non-GAAP financial measures to evaluate its primary business areas – property casualty insurance, life insurance and investments. Management uses these measures when analyzing both GAAP and non-GAAP results to improve its understanding of trends in the underlying business and to help avoid incorrect or misleading assumptions and conclusions about the success or failure of company strategies. Management adjustments to GAAP measures generally: apply to non-recurring events that are unrelated to business performance and distort short-term results; involve values that fluctuate based on events outside of management’s control; supplement reporting segment disclosures with disclosures for a subsidiary company or for a combination of subsidiaries or reporting segments; or relate to accounting refinements that affect comparability between periods, creating a need to analyze data on the same basis.

•Non-GAAP operating income: Non-GAAP operating income is calculated by excluding investment gains and losses (defined as investment gains and losses after applicable federal and state income taxes) and other significant non-recurring items from net income. Management evaluates non-GAAP operating income to measure the success of pricing, rate and underwriting strategies. While investment gains (or losses) are integral to the company’s insurance operations over the long term, the determination to realize investment gains or losses on fixed-maturity securities sold in any period may be subject to management’s discretion and is independent of the insurance underwriting process. Also, under applicable GAAP accounting requirements, gains and losses are recognized from certain changes in market values of securities without actual realization. Management believes that the level of investment gains or losses for any particular period, while it may be material, may not fully indicate the performance of ongoing underlying business operations in that period.

For these reasons, many investors and shareholders consider non-GAAP operating income to be one of the more meaningful measures for evaluating insurance company performance. Equity analysts who report on the insurance industry and the company generally focus on this metric in their analyses. The company presents non-GAAP operating income so that all investors have what management believes to be a useful supplement to GAAP information.

• Consolidated property casualty insurance results: To supplement reporting segment disclosures related to our property casualty insurance operations, we also evaluate results for those operations on a basis that includes results for our property casualty insurance and brokerage services subsidiaries. That is the total of our commercial lines, personal lines and our excess and surplus lines segments plus our reinsurance assumed operations known as Cincinnati Re and our London-based global specialty underwriter known as Cincinnati Global.

•Life insurance subsidiary results: To supplement life insurance reporting segment disclosures related to our life insurance operation, we also evaluate results for that operation on a basis that includes life insurance subsidiary investment income, or investment income plus investment gains and losses, that are also included in our investments reporting segment. We recognize that assets under management, capital appreciation and investment income are integral to evaluating the success of the life insurance segment because of the long duration of life products.

CINF 2Q26 Release 14

Cincinnati Financial Corporation


Net Income Reconciliation

(Dollars in millions, except per share data)	Three months ended June 30,					Six months ended June 30,
		2026		2025			2026		2025
Net income		$	1,255	$	685		$	1,529	$	595
Less:
Investment gains and losses, net		1,308		473			1,238		406
Income tax on investment gains and losses		(277)		(99)			(263)		(85)
Investment gains and losses, after-tax		1,031		374			975		321

Non-GAAP operating income		$	224	$	311		$	554	$	274

Diluted per share data:
Net income		$	8.05	$	4.34		$	9.78	$	3.77
Less:
Investment gains and losses, net		8.40		3.00			7.92		2.57
Income tax on investment gains and losses		(1.78)		(0.63)			(1.68)		(0.54)
Investment gains and losses, after-tax		6.62		2.37			6.24		2.03

Non-GAAP operating income		$	1.43	$	1.97		$	3.54	$	1.74


Life Insurance Reconciliation

(Dollars in millions)	Three months ended June 30,					Six months ended June 30,
		2026		2025			2026		2025
Net income of the life insurance subsidiary		$	30	$	26		$	56	$	47
Investment gains and losses, net		(1)		(4)			(1)		(5)
Income tax on investment gains and losses		—		(1)			—		(1)
Non-GAAP operating income		31		29			57		51

Investment income, net of expenses		(54)		(49)			(108)		(99)
Investment interest credited to contract holders		33		31			65		63
Income tax excluding tax on investment gains and losses, net		8		8			15		13
Life insurance segment profit		$	18	$	19		$	29	$	28

CINF 2Q26 Release 15


Property Casualty Insurance Reconciliation
(Dollars in millions)	Three months ended June 30, 2026
	Consolidated			Commercial			Personal			E&S				Other*
Premiums:
Net written premiums		$	2,825		$	1,327		$	990		$	219		$	289
Unearned premiums change		(277)			(76)			(110)			(30)			(61)
Earned premiums		$	2,548		$	1,251		$	880		$	189		$	228

Underwriting profit (loss)		$	(18)		$	(49)		$	1		$	19		$	11

(Dollars in millions)	Six months ended June 30, 2026
	Consolidated			Commercial			Personal			E&S				Other*
Premiums:
Net written premiums		$	5,493		$	2,686		$	1,765		$	401		$	641
Unearned premiums change		(426)			(194)			(12)			(32)			(188)
Earned premiums		$	5,067		$	2,492		$	1,753		$	369		$	453

Underwriting profit (loss)		$	97		$	(31)		$	31		$	40		$	57

(Dollars in millions)	Three months ended June 30, 2025
	Consolidated			Commercial			Personal			E&S			Other*
Premiums:
Net written premiums		$	2,733		$	1,290		$	980		$	202		$	261
Unearned premiums change		(336)			(78)			(176)			(28)			(54)
Earned premiums		$	2,397		$	1,212		$	804		$	174		$	207

Underwriting profit (loss)		$	128		$	87		$	(14)		$	16		$	39

(Dollars in millions)	Six months ended June 30, 2025
	Consolidated			Commercial			Personal			E&S			Other*
Premiums:
Net written premiums		$	5,228		$	2,615		$	1,652		$	370		$	591
Unearned premiums change		(567)			(224)			(150)			(34)			(159)
Earned premiums		$	4,661		$	2,391		$	1,502		$	336		$	432

Underwriting profit (loss)		$	(170)		$	184		$	(371)		$	36		$	(19)

Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. *Included in Other are the results of Cincinnati Re and Cincinnati Global.

CINF 2Q26 Release 16

Cincinnati Financial Corporation

Other Measures

•Value creation ratio: This is a measure of shareholder value creation that management believes captures the contribution of the company’s insurance operations, the success of its investment strategy and the importance placed on paying cash dividends to shareholders. The value creation ratio measure is made up of two primary components: (1) rate of growth in book value per share plus (2) the ratio of dividends declared per share to beginning book value per share. Management believes this measure is useful, providing a meaningful measure of long-term progress in creating shareholder value. It is intended to be all-inclusive regarding changes in book value per share, and uses originally reported book value per share in cases where book value per share has been adjusted, such as adoption of Accounting Standards Updates with a cumulative effect of a change in accounting.

• Written premium: Under statutory accounting rules in the U.S., property casualty written premium is the amount recorded for policies issued and recognized on an annualized basis at the effective date of the policy. Management analyzes trends in written premium to assess business efforts. The difference between written and earned premium is unearned premium.

Value Creation Ratio Calculations


(Dollars are per share)	Three months ended June 30,							Six months ended June 30,
		2026			2025				2026			2025





Value creation ratio:
End of period book value*		$	108.64		$	91.46			$	108.64		$	91.46
Less beginning of period book value		101.60			87.78				102.35			89.11
Change in book value		7.04			3.68				6.29			2.35
Dividend declared to shareholders		0.94			0.87				1.88			1.74
Total value creation		$	7.98		$	4.55			$	8.17		$	4.09

Value creation ratio from change in book value**		7.0		%	4.2		%		6.2		%	2.6		%
Value creation ratio from dividends declared to shareholders***		0.9			1.0				1.8			2.0
Value creation ratio		7.9		%	5.2		%		8.0		%	4.6		%

* Book value per share is calculated by dividing end of period total shareholders' equity by end of period shares outstanding
** Change in book value divided by the beginning of period book value
*** Dividend declared to shareholders divided by beginning of period book value

CINF 2Q26 Release 17

Cincinnati Financial Corporation

Supplemental Financial Data

for the period ending June 30, 2026

6200 South Gilmore Road

Fairfield, Ohio 45014-5141

cinfin.com


Investor Contact:	Media Contact:	Shareholder Contact:
Andrew F. Gossard	Betsy E. Ertel	Brandon McIntosh
513-870-2768	513-603-5323	513-870-2696

A.M. Best Company

Fitch Ratings

Moody's Investor Service

S&P Global Ratings

Cincinnati Financial Corporation

Corporate Debt

BBB+

The Cincinnati Insurance Companies

Insurer Financial Strength

Property Casualty Group

Standard Market Subsidiaries:

A+

AA-

A+

The Cincinnati Insurance Company

A+

AA-

A+

The Cincinnati Indemnity Company

A+

AA-

A+

The Cincinnati Casualty Company

A+

AA-

A+

Surplus Lines Subsidiary:

The Cincinnati Specialty Underwriters Insurance Company

A+

—

The Cincinnati Life Insurance Company

A+

AA-

—

A+

Ratings are as of July 24, 2026, under continuous review and subject to change and/or affirmation. For the current ratings, select Financial Strength under About on cinfin.com.

The consolidated financial statements and financial exhibits that follow are unaudited. These consolidated financial statements and exhibits should be read in conjunction with the consolidated financial statements and notes included with our periodic filings with the U.S. Securities and Exchange Commission. The results of operations for interim periods may not be indicative of results to be expected for the full year.

CINF Second-Quarter 2026 Supplemental Financial Data


	Cincinnati Financial Corporation
	Supplemental Financial Data
	for the period ending June 30, 2026

		Page
	Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures	3

Consolidated

	CFC and Subsidiaries Consolidation – Six Months Ended June 30, 2026	4
	CFC and Subsidiaries Consolidation – Three Months Ended June 30, 2026	5


Consolidated Property Casualty Insurance Operations
	Losses Incurred Detail	6
	Loss Ratio Detail	7
	Loss Claim Count Detail	8

	Quarterly Property Casualty Data – Commercial Lines	9
	Quarterly Property Casualty Data – Personal Lines and Excess & Surplus Lines	10
	Loss and Loss Expense Analysis – Six Months Ended June 30, 2026	11
	Loss and Loss Expense Analysis – Three Months Ended June 30, 2026	12

Reconciliation Data
	Quarterly Property Casualty Data – Consolidated	13
	Quarterly Property Casualty Data – Commercial Lines	14
	Quarterly Property Casualty Data – Personal Lines	15
	Quarterly Property Casualty Data – Excess & Surplus Lines	16

Statutory Statements of Income
	Consolidated Cincinnati Insurance Companies Statutory Statements of Income	17
	The Cincinnati Life Insurance Company Statutory Statements of Income	18

Other
	Quarterly Data – Other	19

CINF Second-Quarter 2026 Supplemental Financial Data

Definitions of Non-GAAP Information and

Reconciliation to Comparable GAAP Measures

•Consolidated property casualty insurance results: To supplement reporting segment disclosures related to our property casualty insurance operations, we also evaluate results for those operations on a basis that includes results for our property casualty insurance and brokerage services subsidiaries. That is the total of our commercial lines, personal lines and our excess and surplus lines segments plus our reinsurance assumed operations known as Cincinnati Re and our London-based global specialty underwriter known as Cincinnati Global.

Other Measures

•Statutory accounting rules: For public reporting, insurance companies prepare financial statements in accordance with GAAP. However, insurers also must calculate certain data according to statutory accounting rules for insurance company regulation in the United States of America as defined in the NAIC’s Accounting Practices and Procedures Manual, which may be, and has been, modified by various state insurance departments and differ from GAAP. Statutory data is publicly available, and various organizations use it to calculate aggregate industry data, study industry trends and compare insurance companies.

•Written premium: Under statutory accounting rules in the U.S., property casualty written premium is the amount recorded for policies issued and recognized on an annualized basis at the effective date of the policy. Management analyzes trends in written premium to assess business efforts. The difference between written and earned premium is unearned premium.

CINF Second-Quarter 2026 Supplemental Financial Data


Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Six Months Ended June 30, 2026

(Dollars in millions)	CFC		CONSOL P&C		CLIC		CFC-I		ELIM		Total
Revenues
Premiums earned:
Property casualty	$	—	$	5,264	$	—	$	—	$	—	$	5,264
Life	—		—		212		—		—		212
Premiums ceded	—		(197)		(40)		—		—		(237)
Total earned premium	—		5,067		172		—		—		5,239
Investment income, net of expenses	66		465		108		—		(2)		637
Investment gains and losses, net	381		859		(1)		—		(1)		1,238
Fee revenues	—		7		3		—		—		10
Other revenues	7		10		—		6		(10)		13
Total revenues	$	454	$	6,408	$	282	$	6	$	(13)	$	7,137

Benefits & expenses
Losses & contract holders' benefits	$	—	$	3,519	$	195	$	—	$	—	$	3,714
Reinsurance recoveries	—		(44)		(32)		—		—		(76)
Underwriting, acquisition and insurance expenses	—		1,502		48		—		—		1,550
Interest expense	26		—		—		2		(1)		27
Other operating expenses	25		5		—		2		(12)		20
Total expenses	$	51	$	4,982	$	211	$	4	$	(13)	$	5,235

Income before income taxes	$	403	$	1,426	$	71	$	2	$	—	$	1,902

Provision (benefit) for income taxes
Current operating income (loss)	$	(9)	$	42	$	20	$	—	$	—	$	53
Capital gains/losses	81		182		—		—		—		263
Deferred	10		52		(5)		—		—		57
Total provision for income taxes	$	82	$	276	$	15	$	—	$	—	$	373

Net income - current year	$	321	$	1,150	$	56	$	2	$	—	$	1,529

Net income - prior year	$	89	$	458	$	47	$	1	$	—	$	595
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
Consolidated property casualty data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Second-Quarter 2026 Supplemental Financial Data


Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended June 30, 2026

(Dollars in millions)	CFC		CONSOL P&C		CLIC		CFC-I		ELIM		Total
Revenues
Premiums earned:
Property casualty	$	—	$	2,649	$	—	$	—	$	—	$	2,649
Life	—		—		107		—		—		107
Premiums ceded	—		(101)		(20)		—		—		(121)
Total earned premium	—		2,548		87		—		—		2,635
Investment income, net of expenses	29		237		54		—		(1)		319
Investment gains and losses, net	508		801		(1)		—		—		1,308
Fee revenues	—		3		2		—		—		5
Other revenues	3		6		—		3		(5)		7
Total revenues	$	540	$	3,595	$	142	$	3	$	(6)	$	4,274

Benefits & expenses
Losses & contract holders' benefits	$	—	$	1,843	$	96	$	—	$	—	$	1,939
Reinsurance recoveries	—		(35)		(17)		—		—		(52)
Underwriting, acquisition and insurance expenses	—		761		25		—		—		786
Interest expense	13		—		—		1		—		14
Other operating expenses	13		3		—		1		(6)		11
Total expenses	$	26	$	2,572	$	104	$	2	$	(6)	$	2,698

Income before income taxes	$	514	$	1,023	$	38	$	1	$	—	$	1,576

Provision (benefit) for income taxes
Current operating income (loss)	$	(62)	$	(44)	$	12	$	—	$	—	$	(94)
Capital gains/losses	107		169		—		—		—		276
Deferred	64		79		(4)		—		—		139
Total provision for income taxes	$	109	$	204	$	8	$	—	$	—	$	321

Net income - current year	$	405	$	819	$	30	$	1	$	—	$	1,255

Net income - prior year	$	159	$	500	$	26	$	—	$	—	$	685
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
Consolidated property casualty data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Second-Quarter 2026 Supplemental Financial Data


Consolidated Property Casualty
Losses Incurred Detail
(Dollars in millions)	Three months ended														Six months ended				Nine months ended			Twelve months ended
	12/31/26	9/30/26	6/30/26		3/31/26		12/31/25		9/30/25		6/30/25		3/31/25		6/30/26		6/30/25		9/30/26	9/30/25		12/31/26	12/31/25
Consolidated
Current accident year losses greater than $5 million			$	29	$	8	$	27	$	48	$	15	$	26	$	37	$	41		$	89		$	116
Current accident year losses $2 million - $5 million			55		20		61		35		40		20		75		60			95			156
Large loss prior accident year reserve development			51		50		40		49		27		56		101		83			132			172
Total large losses incurred			$	135	$	78	$	128	$	132	$	82	$	102	$	213	$	184		$	316		$	444
Losses incurred but not reported			288		219		164		158		213		279		507		492			650			814
Other losses excluding catastrophe losses			767		838		786		831		741		688		1,605		1,429			2,260			3,046
Catastrophe losses			359		266		18		83		280		558		625		838			921			939
Total losses incurred			$	1,549	$	1,401	$	1,096	$	1,204	$	1,316	$	1,627	$	2,950	$	2,943		$	4,147		$	5,243
Commercial Lines
Current accident year losses greater than $5 million			$	29	$	—	$	11	$	48	$	5	$	7	$	29	$	12		$	60		$	71
Current accident year losses $2 million - $5 million			33		5		34		12		22		15		38		37			49			83
Large loss prior accident year reserve development			53		35		37		47		14		44		88		58			105			142
Total large losses incurred			$	115	$	40	$	82	$	107	$	41	$	66	$	155	$	107		$	214		$	296
Losses incurred but not reported			104		94		44		67		106		163		198		269			336			380
Other losses excluding catastrophe losses			403		441		408		405		383		318		844		701			1,106			1,514
Catastrophe losses			147		117		5		29		83		40		264		123			152			157
Total losses incurred			$	769	$	692	$	539	$	608	$	613	$	587	$	1,461	$	1,200		$	1,808		$	2,347
Personal Lines
Current accident year losses greater than $5 million			$	—	$	8	$	16	$	—	$	10	$	19	$	8	$	29		$	29		$	45
Current accident year losses $2 million - $5 million			22		15		25		23		18		5		37		23			46			71
Large loss prior accident year reserve development			(2)		15		3		2		13		12		13		25			27			30
Total large losses incurred			$	20	$	38	$	44	$	25	$	41	$	36	$	58	$	77		$	102		$	146
Losses incurred but not reported			77		71		39		32		37		74		148		111			143			182
Other losses excluding catastrophe losses			271		282		298		316		257		254		553		511			827			1,125
Catastrophe losses			190		144		6		54		186		405		334		591			645			651
Total losses incurred			$	558	$	535	$	387	$	427	$	521	$	769	$	1,093	$	1,290		$	1,717		$	2,104
Excess & Surplus Lines
Current accident year losses greater than $5 million			$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—		$	—
Current accident year losses $2 million - $5 million			—		—		2		—		—		—		—		—			—			2
Large loss prior accident year reserve development			—		—		—		—		—		—		—		—			—			—
Total large losses incurred			$	—	$	—	$	2	$	—	$	—	$	—	$	—	$	—		$	—		$	2
Losses incurred but not reported			57		38		24		16		31		46		95		77			93			117
Other losses excluding catastrophe losses			24		40		48		59		42		24		64		66			125			173
Catastrophe losses			2		1		(1)		—		3		—		3		3			3			2
Total losses incurred			$	83	$	79	$	73	$	75	$	76	$	70	$	162	$	146		$	221		$	294
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. The sum of quarterly amounts may not equal the full year as each is computed independently.
Consolidated property casualty data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Second-Quarter 2026 Supplemental Financial Data


Consolidated Property Casualty
Loss Ratio Detail
	Three months ended														Six months ended				Nine months ended			Twelve months ended
	12/31/26	9/30/26	6/30/26		3/31/26		12/31/25		9/30/25		6/30/25		3/31/25		6/30/26		6/30/25		9/30/26	9/30/25		12/31/26	12/31/25
Consolidated
Current accident year losses greater than $5 million			1.2	%	0.3	%	1.1	%	1.9	%	0.6	%	1.2	%	0.7	%	0.9	%		1.3	%		1.2	%
Current accident year losses $2 million - $5 million			2.1		0.8		2.4		1.4		1.7		0.9		1.5		1.3			1.3			1.6
Large loss prior accident year reserve development			2.0		2.0		1.6		2.0		1.1		2.4		2.0		1.8			1.8			1.8
Total large loss ratio			5.3	%	3.1	%	5.1	%	5.3	%	3.4	%	4.5	%	4.2	%	4.0	%		4.4	%		4.6	%
Losses incurred but not reported			11.3		8.7		6.5		6.4		8.9		12.3		10.0		10.5			9.1			8.4
Other losses excluding catastrophe losses			30.1		33.2		31.4		33.4		30.9		30.4		31.7		30.6			31.6			31.6
Catastrophe losses			14.1		10.6		0.7		3.4		11.7		24.6		12.3		18.0			12.9			9.7
Total loss ratio			60.8	%	55.6	%	43.7	%	48.5	%	54.9	%	71.8	%	58.2	%	63.1	%		58.0	%		54.3	%
Commercial Lines
Current accident year losses greater than $5 million			2.4	%	—	%	0.9	%	3.9	%	0.5	%	0.6	%	1.2	%	0.5	%		1.7	%		1.5	%
Current accident year losses $2 million - $5 million			2.7		0.4		2.7		1.0		1.8		1.2		1.5		1.5			1.3			1.7
Large loss prior accident year reserve development			4.2		2.8		3.0		3.8		1.2		3.8		3.6		2.5			2.9			2.9
Total large loss ratio			9.3	%	3.2	%	6.6	%	8.7	%	3.5	%	5.6	%	6.3	%	4.5	%		5.9	%		6.1	%
Losses incurred but not reported			8.3		7.6		3.6		5.4		8.7		13.9		8.0		11.3			9.3			7.8
Other losses excluding catastrophe losses			32.1		35.5		32.8		33.0		31.6		26.8		33.7		29.3			30.5			31.2
Catastrophe losses			11.7		9.5		0.4		2.4		6.8		3.4		10.6		5.1			4.2			3.2
Total loss ratio			61.4	%	55.8	%	43.4	%	49.5	%	50.6	%	49.7	%	58.6	%	50.2	%		49.9	%		48.3	%
Personal Lines
Current accident year losses greater than $5 million			—	%	0.9	%	1.8	%	—	%	1.3	%	2.8	%	0.4	%	2.0	%		1.3	%		1.4	%
Current accident year losses $2 million - $5 million			2.3		1.8		2.8		2.9		2.2		0.7		2.1		1.5			2.0			2.2
Large loss prior accident year reserve development			(0.2)		1.8		0.4		0.2		1.5		1.8		0.8		1.6			1.1			0.9
Total large loss ratio			2.1	%	4.5	%	5.0	%	3.1	%	5.0	%	5.3	%	3.3	%	5.1	%		4.4	%		4.5	%
Losses incurred but not reported			8.7		8.1		4.5		3.8		4.7		10.5		8.4		7.4			6.1			5.7
Other losses excluding catastrophe losses			31.0		32.3		34.8		37.5		32.0		36.4		31.5		34.1			35.4			35.2
Catastrophe losses			21.6		16.4		0.8		6.5		23.1		57.9		19.1		39.3			27.5			20.4
Total loss ratio			63.4	%	61.3	%	45.1	%	50.9	%	64.8	%	110.1	%	62.3	%	85.9	%		73.4	%		65.8	%
Excess & Surplus Lines
Current accident year losses greater than $5 million			—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%		—	%		—	%
Current accident year losses $2 million - $5 million			—		—		1.1		—		—		—		—		—			—			0.3
Large loss prior accident year reserve development			—		—		(0.1)		—		—		—		—		—			—			—
Total large loss ratio			—	%	—	%	1.0	%	—	%	—	%	—	%	—	%	—	%		—	%		0.3	%
Losses incurred but not reported			30.7		20.8		12.7		9.2		18.1		28.1		25.8		23.0			18.3			16.8
Other losses excluding catastrophe losses			13.2		22.1		26.0		33.6		24.4		14.8		17.6		19.7			24.4			24.8
Catastrophe losses			0.8		0.7		(0.6)		—		1.3		0.2		0.7		0.8			0.5			0.2
Total loss ratio			44.7	%	43.6	%	39.1	%	42.8	%	43.8	%	43.1	%	44.1	%	43.5	%		43.2	%		42.1	%
*Certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
Consolidated property casualty data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Second-Quarter 2026 Supplemental Financial Data


Consolidated Property Casualty
Loss Claim Count Detail
	Three months ended								Six months ended		Nine months ended		Twelve months ended
	12/31/26	9/30/26	6/30/26	3/31/26	12/31/25	9/30/25	6/30/25	3/31/25	6/30/26	6/30/25	9/30/26	9/30/25	12/31/26	12/31/25
Consolidated
Current accident year reported losses greater than $5 million			3	1	3	6	2	3	4	5		12		15
Current accident year reported losses $2 million - $5 million			19	7	21	17	14	7	26	21		32		53
Prior accident year reported losses on large losses			10	17	15	11	13	15	27	28		39		54
Non-Catastrophe reported losses on large losses total			32	25	39	34	29	25	57	54		83		122
Commercial Lines
Current accident year reported losses greater than $5 million			3	—	2	6	1	1	3	2		9		10
Current accident year reported losses $2 million - $5 million			11	2	11	9	7	5	13	12		16		28
Prior accident year reported losses on large losses			9	13	14	11	10	11	22	21		32		46
Non-Catastrophe reported losses on large losses total			23	15	27	26	18	17	38	35		57		84
Personal Lines
Current accident year reported losses greater than $5 million			—	1	1	—	1	2	1	3		3		5
Current accident year reported losses $2 million - $5 million			8	5	9	8	7	2	13	9		16		24
Prior accident year reported losses on large losses			1	4	1	—	3	4	5	7		7		8
Non-Catastrophe reported losses on large losses total			9	10	11	8	11	8	19	19		26		37
Excess & Surplus Lines
Current accident year reported losses greater than $5 million			—	—	—	—	—	—	—	—		—		—
Current accident year reported losses $2 million - $5 million			—	—	1	—	—	—	—	—		—		1
Prior accident year reported losses on large losses			—	—	—	—	—	—	—	—		—		—
Non-Catastrophe reported losses on large losses total			—	—	1	—	—	—	—	—		—		1
*The sum of quarterly amounts may not equal the full year as each is computed independently.

CINF Second-Quarter 2026 Supplemental Financial Data


Quarterly Property Casualty Data - Commercial Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Commercial casualty:
Net written premiums			$	439		$	451		$	394		$	372		$	428		$	443		$	890		$	871			$	1,244			$	1,638
Year over year change %- written premium			3		%	2		%	2		%	2		%	9		%	6		%	2		%	8		%		6		%		5		%
Earned premiums			$	405		$	405		$	409		$	403		$	402		$	387		$	810		$	789			$	1,192			$	1,601
Current accident year before catastrophe losses			76.5		%	77.0		%	86.9		%	74.8		%	72.3		%	72.8		%	76.7		%	72.6		%		73.3		%		76.8		%
Current accident year catastrophe losses			—			—			—			—			—			—			—			—				—				—
Prior accident years before catastrophe losses			3.5			(0.7)			(0.2)			6.0			(0.4)			(0.3)			1.4			(0.4)				1.8				1.3
Prior accident years catastrophe losses			—			—			—			—			—			—			—			—				—				—
Total loss and loss expense ratio			80.0		%	76.3		%	86.7		%	80.8		%	71.9		%	72.5		%	78.1		%	72.2		%		75.1		%		78.1		%
Commercial property:
Net written premiums			$	435		$	427		$	395		$	422		$	428		$	411		$	862		$	839			$	1,260			$	1,655
Year over year change %- written premium			2		%	4		%	3		%	8		%	9		%	14		%	3		%	11		%		10		%		8		%
Earned premiums			$	418		$	415		$	410		$	405		$	399		$	389		$	833		$	787			$	1,192			$	1,602
Current accident year before catastrophe losses			44.9		%	43.8		%	23.9		%	37.2		%	40.2		%	43.5		%	44.3		%	41.8		%		40.2		%		36.0		%
Current accident year catastrophe losses			33.7			28.7			1.6			8.6			21.5			13.3			31.2			17.5				14.5				11.2
Prior accident years before catastrophe losses			(4.5)			(7.0)			(3.6)			(8.2)			(9.5)			(5.3)			(5.7)			(7.4)				(7.7)				(6.7)
Prior accident years catastrophe losses			(0.2)			(0.3)			0.3			(1.2)			(0.6)			(3.6)			(0.2)			(2.1)				(1.8)				(1.2)
Total loss and loss expense ratio			73.9		%	65.2		%	22.2		%	36.4		%	51.6		%	47.9		%	69.6		%	49.8		%		45.2		%		39.3		%
Commercial auto:
Net written premiums			$	292		$	299		$	240		$	243		$	271		$	283		$	591		$	555			$	797			$	1,037
Year over year change %- written premium			8		%	6		%	8		%	9		%	9		%	9		%	6		%	10		%		9		%		9		%
Earned premiums			$	268		$	259		$	258		$	253		$	247		$	241		$	527		$	489			$	742			$	1,000
Current accident year before catastrophe losses			65.0		%	67.7		%	66.5		%	64.7		%	65.0		%	68.6		%	66.3		%	66.8		%		66.1		%		66.2		%
Current accident year catastrophe losses			3.3			0.5			0.1			0.8			0.8			1.8			1.9			1.3				1.1				0.8
Prior accident years before catastrophe losses			1.1			0.7			2.5			4.1			7.2			2.9			1.0			5.1				4.8				4.2
Prior accident years catastrophe losses			—			—			(0.1)			—			(0.1)			(0.1)			—			(0.1)				(0.1)				(0.1)
Total loss and loss expense ratio			69.4		%	68.9		%	69.0		%	69.6		%	72.9		%	73.2		%	69.2		%	73.1		%		71.9		%		71.1		%
Workers' compensation:
Net written premiums			$	54		$	71		$	53		$	56		$	57		$	79		$	125		$	135			$	191			$	244
Year over year change %- written premium			(5)		%	(10)		%	(2)		%	—		%	4		%	—		%	(7)		%	1		%		1		%		—		%
Earned premiums			$	54		$	57		$	61		$	61		$	60		$	61		$	111		$	121			$	181			$	242
Current accident year before catastrophe losses			91.0		%	98.0		%	96.4		%	94.6		%	97.0		%	95.5		%	94.6		%	96.2		%		95.7		%		95.9		%
Current accident year catastrophe losses			—			—			—			—			—			—			—			—				—				—
Prior accident years before catastrophe losses			(27.2)			(15.7)			(32.3)			(28.3)			(27.8)			(18.6)			(21.4)			(23.1)				(24.9)				(26.8)
Prior accident years catastrophe losses			—			—			—			—			—			—			—			—				—				—
Total loss and loss expense ratio			63.8		%	82.3		%	64.1		%	66.3		%	69.2		%	76.9		%	73.2		%	73.1		%		70.8		%		69.1		%
Other commercial:
Net written premiums			$	107		$	111		$	103		$	105		$	106		$	109		$	218		$	215			$	321			$	424
Year over year change %- written premium			1		%	2		%	5		%	(1)		%	6		%	3		%	1		%	4		%		3		%		3		%
Earned premiums			$	106		$	105		$	105		$	107		$	104		$	101		$	211		$	205			$	313			$	418
Current accident year before catastrophe losses			53.6		%	51.9		%	53.6		%	51.1		%	50.5		%	45.8		%	52.8		%	48.2		%		49.2		%		50.3		%
Current accident year catastrophe losses			—			0.1			0.2			—			0.1			0.1			0.1			0.1				—				0.1
Prior accident years before catastrophe losses			0.1			(12.2)			0.5			2.9			(1.5)			(2.2)			(6.0)			(1.8)				(0.2)				—
Prior accident years catastrophe losses			—			0.1			—			—			0.1			—			—			—				—				—
Total loss and loss expense ratio			53.7		%	39.9		%	54.3		%	54.0		%	49.2		%	43.7		%	46.9		%	46.5		%		49.0		%		50.4		%
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.

CINF Second-Quarter 2026 Supplemental Financial Data


Quarterly Property Casualty Data - Personal Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Personal auto:
Net written premiums			$	332		$	275		$	285		$	328		$	333		$	266		$	607		$	599			$	927			$	1,212
Year over year change %- written premium			—		%	3		%	6		%	11		%	18		%	23		%	1		%	20		%		17		%		14		%
Earned premiums			$	304		$	303		$	300		$	295		$	285		$	271		$	606		$	556			$	851			$	1,151
Current accident year before catastrophe losses			68.3		%	69.2		%	68.3		%	67.8		%	67.8		%	71.2		%	68.8		%	69.5		%		68.9		%		68.8		%
Current accident year catastrophe losses			4.5			1.1			0.1			1.1			3.2			3.0			2.8			3.1				2.4				1.8
Prior accident years before catastrophe losses			(1.1)			3.2			1.9			1.9			—			(0.8)			1.0			(0.4)				0.4				0.8
Prior accident years catastrophe losses			—			—			—			—			—			(0.3)			—			(0.2)				(0.1)				(0.1)
Total loss and loss expense ratio			71.7		%	73.5		%	70.3		%	70.8		%	71.0		%	73.1		%	72.6		%	72.0		%		71.6		%		71.3		%
Homeowner:
Net written premiums			$	537		$	406		$	446		$	518		$	532		$	320		$	943		$	852			$	1,370			$	1,816
Year over year change %- written premium			1		%	27		%	13		%	17		%	23		%	6		%	11		%	16		%		16		%		16		%
Earned premiums			$	473		$	469		$	459		$	444		$	425		$	338		$	942		$	763			$	1,208			$	1,667
Current accident year before catastrophe losses			40.6		%	41.1		%	38.1		%	37.6		%	38.8		%	53.4		%	40.8		%	45.2		%		42.4		%		41.2		%
Current accident year catastrophe losses			36.1			30.2			1.8			12.9			44.3			122.5			33.2			79.0				54.7				40.1
Prior accident years before catastrophe losses			(2.5)			(2.8)			0.5			0.9			(3.0)			(2.0)			(2.7)			(2.6)				(1.3)				(0.8)
Prior accident years catastrophe losses			1.5			(0.3)			(0.8)			(1.6)			(3.0)			(3.5)			0.6			(3.2)				(2.6)				(2.1)
Total loss and loss expense ratio			75.7		%	68.2		%	39.6		%	49.8		%	77.1		%	170.4		%	71.9		%	118.4		%		93.2		%		78.4		%
Other personal:
Net written premiums			$	121		$	94		$	96		$	105		$	115		$	86		$	215		$	201			$	306			$	402
Year over year change %- written premium			5		%	9		%	8		%	12		%	12		%	13		%	7		%	12		%		12		%		11		%
Earned premiums			$	103		$	101		$	100		$	99		$	94		$	89		$	205		$	183			$	281			$	381
Current accident year before catastrophe losses			59.2		%	62.0		%	55.5		%	58.8		%	58.3		%	76.2		%	60.6		%	67.0		%		64.2		%		61.9		%
Current accident year catastrophe losses			4.2			4.0			6.3			6.9			6.8			1.1			4.1			4.0				5.0				5.3
Prior accident years before catastrophe losses			(3.5)			(1.0)			14.3			12.5			7.4			3.7			(2.3)			5.6				8.0				9.7
Prior accident years catastrophe losses			(0.2)			(1.0)			—			(0.8)			(0.1)			(0.4)			(0.6)			(0.2)				(0.5)				(0.3)
Total loss and loss expense ratio			59.7		%	64.0		%	76.1		%	77.4		%	72.4		%	80.6		%	61.8		%	76.4		%		76.7		%		76.6		%

Quarterly Property Casualty Data - Excess & Surplus Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Excess & Surplus:
Net written premiums			$	219		$	182		$	184		$	175		$	202		$	168		$	401		$	370			$	545			$	729
Year over year change %- written premium			8		%	8		%	8		%	11		%	12		%	15		%	8		%	13		%		13		%		11		%
Earned premiums			$	189		$	180		$	188		$	174		$	174		$	162		$	369		$	336			$	510			$	698
Current accident year before catastrophe losses			64.6		%	64.6		%	58.4		%	64.1		%	64.9		%	65.6		%	64.6		%	65.2		%		64.8		%		63.1		%
Current accident year catastrophe losses			0.9			1.1			(0.4)			0.2			1.6			0.8			1.0			1.2				0.9				0.5
Prior accident years before catastrophe losses			(2.9)			(4.1)			(0.3)			(2.1)			(2.7)			(5.0)			(3.5)			(3.8)				(3.2)				(2.5)
Prior accident years catastrophe losses			(0.1)			(0.4)			(0.2)			(0.1)			(0.3)			(0.5)			(0.3)			(0.3)				(0.3)				(0.2)
Total loss and loss expense ratio			62.5		%	61.2		%	57.5		%	62.1		%	63.5		%	60.9		%	61.8		%	62.3		%		62.2		%		60.9		%
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.

CINF Second-Quarter 2026 Supplemental Financial Data



Consolidated Property Casualty Loss and Loss Expense Analysis

(Dollars in millions)							Change in		Change in		Change in		Total						Loss
	Paid		Paid loss		Total		case		IBNR		loss expense		change in		Case		IBNR		expense		Total
	losses		expense		paid		reserves		reserves		reserves		reserves		incurred		incurred		incurred		incurred
Gross loss and loss expense incurred for the six months ended June 30, 2026
Commercial casualty	$	374	$	102	$	476	$	13	$	94	$	45	$	152	$	387	$	94	$	147	$	628
Commercial property	353		36		389		59		133		10		202		412		133		46		591
Commercial auto	257		43		300		(11)		63		12		64		246		63		55		364
Workers' compensation	61		14		75		8		(10)		7		5		69		(10)		21		80
Other commercial	53		17		70		19		5		9		33		72		5		26		103
Total commercial lines	1,098		212		1,310		88		285		83		456		1,186		285		295		1,766

Personal auto	302		53		355		17		54		16		87		319		54		69		442
Homeowners	462		59		521		21		143		18		182		483		143		77		703
Other personal	74		5		79		11		39		1		51		85		39		6		130
Total personal lines	838		117		955		49		236		35		320		887		236		152		1,275

Excess & surplus lines	89		38		127		(18)		97		28		107		71		97		66		234
Other	161		10		171		(18)		90		1		73		143		90		11		244
Total property casualty	$	2,186	$	377	$	2,563	$	101	$	708	$	147	$	956	$	2,287	$	708	$	524	$	3,519

Ceded loss and loss expense incurred for the six months ended June 30, 2026
Commercial casualty	$	12	$	2	$	14	$	(12)	$	(2)	$	(4)	$	(18)	$	—	$	(2)	$	(2)	$	(4)
Commercial property	3		—		3		5		2		—		7		8		2		—		10
Commercial auto	—		—		—		—		—		—		—		—		—		—		—
Workers' compensation	3		—		3		(2)		(2)		—		(4)		1		(2)		—		(1)
Other commercial	5		1		6		(1)		(1)		—		(2)		4		(1)		1		4
Total commercial lines	23		3		26		(10)		(3)		(4)		(17)		13		(3)		(1)		9

Personal auto	1		—		1		1		—		—		1		2		—		—		2
Homeowners	29		—		29		(14)		9		—		(5)		15		9		—		24
Other personal	3		—		3		1		—		—		1		4		—		—		4
Total personal lines	33		—		33		(12)		9		—		(3)		21		9		—		30

Excess & surplus lines	6		—		6		(2)		2		—		—		4		2		—		6
Other	4		—		4		(11)		6		—		(5)		(7)		6		—		(1)
Total property casualty	$	66	$	3	$	69	$	(35)	$	14	$	(4)	$	(25)	$	31	$	14	$	(1)	$	44

Net loss and loss expense incurred for the six months ended June 30, 2026
Commercial casualty	$	362	$	100	$	462	$	25	$	96	$	49	$	170	$	387	$	96	$	149	$	632
Commercial property	350		36		386		54		131		10		195		404		131		46		581
Commercial auto	257		43		300		(11)		63		12		64		246		63		55		364
Workers' compensation	58		14		72		10		(8)		7		9		68		(8)		21		81
Other commercial	48		16		64		20		6		9		35		68		6		25		99
Total commercial lines	1,075		209		1,284		98		288		87		473		1,173		288		296		1,757

Personal auto	301		53		354		16		54		16		86		317		54		69		440
Homeowners	433		59		492		35		134		18		187		468		134		77		679
Other personal	71		5		76		10		39		1		50		81		39		6		126
Total personal lines	805		117		922		61		227		35		323		866		227		152		1,245

Excess & surplus lines	83		38		121		(16)		95		28		107		67		95		66		228
Other	157		10		167		(7)		84		1		78		150		84		11		245
Total property casualty	$	2,120	$	374	$	2,494	$	136	$	694	$	151	$	981	$	2,256	$	694	$	525	$	3,475

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
Other data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Second-Quarter 2026 Supplemental Financial Data


Consolidated Property Casualty Loss and Loss Expense Analysis


(Dollars in millions)							Change in		Change in		Change in		Total						Loss
	Paid		Paid loss		Total		case		IBNR		loss expense		change in		Case		IBNR		expense		Total
	losses		expense		paid		reserves		reserves		reserves		reserves		incurred		incurred		incurred		incurred
Gross loss and loss expense incurred for the three months ended June 30, 2026
Commercial casualty	$	155	$	47	$	202	$	50	$	43	$	26	$	119	$	205	$	43	$	73	$	321
Commercial property	198		18		216		54		38		5		97		252		38		23		313
Commercial auto	132		21		153		(10)		36		7		33		122		36		28		186
Workers' compensation	32		7		39		6		(9)		(1)		(4)		38		(9)		6		35
Other commercial	27		12		39		15		7		—		22		42		7		12		61
Total commercial lines	544		105		649		115		115		37		267		659		115		142		916

Personal auto	150		26		176		9		25		10		44		159		25		36		220
Homeowners	263		31		294		1		79		10		90		264		79		41		384
Other personal	43		3		46		(5)		21		1		17		38		21		4		63
Total personal lines	456		60		516		5		125		21		151		461		125		81		667

Excess & surplus lines	52		18		70		(23)		58		16		51		29		58		34		121
Other	81		5		86		(20)		74		(1)		53		61		74		4		139
Total property casualty	$	1,133	$	188	$	1,321	$	77	$	372	$	73	$	522	$	1,210	$	372	$	261	$	1,843

Ceded loss and loss expense incurred for the three months ended June 30, 2026
Commercial casualty	$	(5)	$	—	$	(5)	$	2	$	—	$	—	$	2	$	(3)	$	—	$	—	$	(3)
Commercial property	2		—		2		5		(2)		—		3		7		(2)		—		5
Commercial auto	—		—		—		—		—		—		—		—		—		—		—
Workers' compensation	1		—		1		1		(1)		—		—		2		(1)		—		1
Other commercial	3		1		4		(1)		—		—		(1)		2		—		1		3
Total commercial lines	1		1		2		7		(3)		—		4		8		(3)		1		6

Personal auto	1		—		1		—		—		1		—		1		—		1		2
Homeowners	16		—		16		(6)		17		—		11		10		17		—		27
Other personal	2		—		2		(2)		—		—		(2)		—		—		—		—
Total personal lines	19		—		19		(8)		17		1		9		11		17		1		29

Excess & surplus lines	6		—		6		(3)		—		—		(3)		3		—		—		3
Other	1		—		1		(11)		7		—		(4)		(10)		7		—		(3)
Total property casualty	$	27	$	1	$	28	$	(15)	$	21	$	1	$	6	$	12	$	21	$	2	$	35

Net loss and loss expense incurred for the three months ended June 30, 2026
Commercial casualty	$	160	$	47	$	207	$	48	$	43	$	26	$	117	$	208	$	43	$	73	$	324
Commercial property	196		18		214		49		40		5		94		245		40		23		308
Commercial auto	132		21		153		(10)		36		7		33		122		36		28		186
Workers' compensation	31		7		38		5		(8)		(1)		(4)		36		(8)		6		34
Other commercial	24		11		35		16		7		—		23		40		7		11		58
Total commercial lines	543		104		647		108		118		37		263		651		118		141		910

Personal auto	149		26		175		9		25		9		43		158		25		35		218
Homeowners	247		31		278		7		62		10		79		254		62		41		357
Other personal	41		3		44		(3)		21		1		19		38		21		4		63
Total personal lines	437		60		497		13		108		20		141		450		108		80		638

Excess & surplus lines	46		18		64		(20)		58		16		54		26		58		34		118
Other	80		5		85		(9)		67		(1)		57		71		67		4		142
Total property casualty	$	1,106	$	187	$	1,293	$	92	$	351	$	72	$	515	$	1,198	$	351	$	259	$	1,808

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
Other data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Second-Quarter 2026 Supplemental Financial Data



Quarterly Property Casualty Data - Consolidated

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Premiums
Agency renewal written premiums			$	2,254		$	2,045		$	1,939		$	2,037		$	2,135		$	1,912		$	4,299		$	4,047			$	6,084			$	8,023
Agency new business written premiums			353			339			331			356			404			383			692			787				1,143				1,474

Other written premiums			218			284			91			100			194			200			502			394				494				585
Net written premiums			$	2,825		$	2,668		$	2,361		$	2,493		$	2,733		$	2,495		$	5,493		$	5,228			$	7,721			$	10,082
Unearned premium change			(277)			(149)			147			(9)			(336)			(231)			(426)			(567)				(576)				(429)
Earned premiums			$	2,548		$	2,519		$	2,508		$	2,484		$	2,397		$	2,264		$	5,067		$	4,661			$	7,145			$	9,653
Year over year change %
Agency renewal written premiums			6		%	7		%	10		%	13		%	16		%	14		%	6		%	15		%		14		%		13		%
Agency new business written premiums			(13)			(11)			(13)			(12)			(1)			11			(12)			5				(1)				(4)

Other written premiums			12			42			(11)			9			(7)			(9)			27			(8)				(5)				(6)
Net written premiums			3			7			5			9			11			11			5			11				10				9
Paid losses and loss expenses
Losses paid			$	1,106		$	1,014		$	942		$	1,039		$	1,049		$	1,203		$	2,120		$	2,253			$	3,292			$	4,234
Loss expenses paid			187			187			187			178			197			196			374			392				570				757
Loss and loss expenses paid			$	1,293		$	1,201		$	1,129		$	1,217		$	1,246		$	1,399		$	2,494		$	2,645			$	3,862			$	4,991
Incurred losses and loss expenses
Loss and loss expense incurred			$	1,808		$	1,667		$	1,397		$	1,464		$	1,587		$	1,887		$	3,475		$	3,474			$	4,938			$	6,335
Loss and loss expenses paid as a % of incurred			71.5		%	72.0		%	80.8		%	83.1		%	78.5		%	74.1		%	71.8		%	76.1		%		78.2		%		78.8		%
Statutory combined ratio
Loss ratio			60.6		%	56.3		%	43.7		%	49.5		%	55.4		%	72.4		%	58.5		%	63.6		%		58.7		%		54.9		%
Loss adjustment expense ratio			10.4			10.8			12.4			10.9			11.6			11.7			10.6			11.7				11.4				11.6
Net underwriting expense ratio			28.0			28.5			30.2			28.3			26.4			28.2			28.2			27.3				27.6				28.2
US Statutory combined ratio			99.0		%	95.6		%	86.3		%	88.7		%	93.4		%	112.3		%	97.3		%	102.6		%		97.7		%		94.7		%
Contribution from catastrophe losses			14.4			11.0			0.7			4.0			11.9			25.2			12.7			18.4				13.4				10.1
Statutory combined ratio excl. catastrophe losses			84.6		%	84.6		%	85.6		%	84.7		%	81.5		%	87.1		%	84.6		%	84.2		%		84.3		%		84.6		%
GAAP combined ratio
GAAP combined ratio			100.8		%	95.6		%	85.2		%	88.2		%	94.9		%	113.3		%	98.2		%	103.8		%		98.4		%		94.9		%
Contribution from catastrophe losses			14.5			10.8			1.0			3.7			12.2			25.0			12.6			18.4				13.3				10.1
GAAP combined ratio excl. catastrophe losses			86.3		%	84.8		%	84.2		%	84.5		%	82.7		%	88.3		%	85.6		%	85.4		%		85.1		%		84.8		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies. Statutory ratios exclude the results of Cincinnati Global. Consolidated property casualty data includes the results of Cincinnati Re and Cincinnati Global.

CINF Second-Quarter 2026 Supplemental Financial Data



Quarterly Property Casualty Data - Commercial Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Premiums
Agency renewal written premiums			$	1,146		$	1,184		$	1,039		$	1,043		$	1,116		$	1,152		$	2,330		$	2,268			$	3,311			$	4,350
Agency new business written premiums			208			205			180			185			200			203			413			403				588				768
Other written premiums			(27)			(30)			(34)			(30)			(26)			(30)			(57)			(56)				(86)				(120)
Net written premiums			$	1,327		$	1,359		$	1,185		$	1,198		$	1,290		$	1,325		$	2,686		$	2,615			$	3,813			$	4,998
Unearned premium change			(76)			(118)			58			31			(78)			(146)			(194)			(224)				(193)				(135)
Earned premiums			$	1,251		$	1,241		$	1,243		$	1,229		$	1,212		$	1,179		$	2,492		$	2,391			$	3,620			$	4,863
Year over year change %
Agency renewal written premiums			3		%	3		%	4		%	6		%	9		%	7		%	3		%	8		%		7		%		6		%
Agency new business written premiums			4			1			1			(1)			4			12			2			7				5				4
Other written premiums			(4)			—			8			17			13			14			(2)			14				15				13
Net written premiums			3			3			4			5			9			8			3			9				7				7
Paid losses and loss expenses
Losses paid			$	543		$	533		$	481		$	497		$	493		$	403		$	1,075		$	897			$	1,393			$	1,876
Loss expenses paid			104			105			104			102			110			109			209			218				321				426
Loss and loss expenses paid			$	647		$	638		$	585		$	599		$	603		$	512		$	1,284		$	1,115			$	1,714			$	2,302
Incurred losses and loss expenses
Loss and loss expense incurred			$	910		$	847		$	721		$	747		$	767		$	735		$	1,757		$	1,502			$	2,249			$	2,970
Loss and loss expenses paid as a % of incurred			71.1		%	75.3		%	81.1		%	80.2		%	78.6		%	69.7		%	73.1		%	74.2		%		76.2		%		77.5		%
Statutory combined ratio
Loss ratio			61.5		%	55.8		%	43.4		%	49.5		%	50.7		%	49.7		%	58.6		%	50.2		%		50.0		%		48.2		%
Loss adjustment expense ratio			11.3			12.5			14.5			11.3			12.7			12.6			11.9			12.6				12.2				12.8
Net underwriting expense ratio			29.2			27.7			31.4			30.9			28.3			26.9			28.5			27.6				28.6				29.3
Statutory combined ratio			102.0		%	96.0		%	89.3		%	91.7		%	91.7		%	89.2		%	99.0		%	90.4		%		90.8		%		90.3		%
Contribution from catastrophe losses			11.9			9.6			0.6			2.6			7.0			3.6			10.7			5.4				4.4				3.5
Statutory combined ratio excl. catastrophe losses			90.1		%	86.4		%	88.7		%	89.1		%	84.7		%	85.6		%	88.3		%	85.0		%		86.4		%		86.8		%
GAAP combined ratio
GAAP combined ratio			104.1		%	98.6		%	88.4		%	91.1		%	92.9		%	91.9		%	101.3		%	92.4		%		92.0		%		91.1		%
Contribution from catastrophe losses			11.9			9.6			0.6			2.6			7.0			3.6			10.7			5.4				4.4				3.5
GAAP combined ratio excl. catastrophe losses			92.2		%	89.0		%	87.8		%	88.5		%	85.9		%	88.3		%	90.6		%	87.0		%		87.6		%		87.6		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Second-Quarter 2026 Supplemental Financial Data



Quarterly Property Casualty Data - Personal Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Premiums
Agency renewal written premiums			$	943		$	726		$	764		$	864		$	866		$	634		$	1,669		$	1,500			$	2,364			$	3,128
Agency new business written premiums			78			76			92			116			141			127			154			268				384				476
Other written premiums			(31)			(27)			(29)			(29)			(27)			(89)			(58)			(116)				(145)				(174)
Net written premiums			$	990		$	775		$	827		$	951		$	980		$	672		$	1,765		$	1,652			$	2,603			$	3,430
Unearned premium change			(110)			98			32			(113)			(176)			26			(12)			(150)				(263)				(231)
Earned premiums			$	880		$	873		$	859		$	838		$	804		$	698		$	1,753		$	1,502			$	2,340			$	3,199
Year over year change %
Agency renewal written premiums			9		%	15		%	22		%	24		%	27		%	28		%	11		%	28		%		26		%		25		%
Agency new business written premiums			(45)			(40)			(40)			(30)			(13)			4			(43)			(6)				(15)				(21)
Other written premiums			(15)			70			(12)			(4)			(8)			(324)			50			(152)				(96)				(74)
Net written premiums			1			15			10			14			20			13			7			17				16				14
Paid losses and loss expenses
Losses paid			$	437		$	368		$	346		$	424		$	446		$	609		$	805		$	1,055			$	1,479			$	1,824
Loss expenses paid			60			57			58			52			63			64			117			127				179				237
Loss and loss expenses paid			$	497		$	425		$	404		$	476		$	509		$	673		$	922		$	1,182			$	1,658			$	2,061
Incurred losses and loss expenses
Loss and loss expense incurred			$	638		$	607		$	468		$	507		$	598		$	846		$	1,245		$	1,444			$	1,951			$	2,419
Loss and loss expenses paid as a % of incurred			77.9		%	70.0		%	86.3		%	93.9		%	85.1		%	79.6		%	74.1		%	81.9		%		85.0		%		85.2		%
Statutory combined ratio
Loss ratio			63.4		%	61.3		%	45.1		%	50.9		%	64.8		%	110.1		%	62.3		%	85.9		%		73.4		%		65.8		%
Loss adjustment expense ratio			9.0			8.2			9.5			9.5			9.6			11.0			8.7			10.3				10.0				9.9
Net underwriting expense ratio			26.5			30.2			28.2			25.9			24.7			31.2			28.1			27.3				26.8				27.1
Statutory combined ratio			98.9		%	99.7		%	82.8		%	86.3		%	99.1		%	152.3		%	99.1		%	123.5		%		110.2		%		102.8		%
Contribution from catastrophe losses			22.2			16.8			1.3			7.1			23.8			58.7			19.5			40.0				28.3				21.0
Statutory combined ratio excl. catastrophe losses			76.7		%	82.9		%	81.5		%	79.2		%	75.3		%	93.6		%	79.6		%	83.5		%		81.9		%		81.8		%
GAAP combined ratio
GAAP combined ratio			99.9		%	96.8		%	81.5		%	88.2		%	102.0		%	151.3		%	98.4		%	124.9		%		111.8		%		103.6		%
Contribution from catastrophe losses			22.2			16.8			1.3			7.1			23.8			58.7			19.5			40.0				28.3				21.0
GAAP combined ratio excl. catastrophe losses			77.7		%	80.0		%	80.2		%	81.1		%	78.2		%	92.6		%	78.9		%	84.9		%		83.5		%		82.6		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Second-Quarter 2026 Supplemental Financial Data



Quarterly Property Casualty Data - Excess & Surplus Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Premiums
Agency renewal written premiums			$	165		$	135		$	136		$	130		$	153		$	126		$	300		$	279			$	409			$	545
Agency new business written premiums			67			58			59			55			63			53			125			116				171				230
Other written premiums			(13)			(11)			(11)			(10)			(14)			(11)			(24)			(25)				(35)				(46)
Net written premiums			$	219		$	182		$	184		$	175		$	202		$	168		$	401		$	370			$	545			$	729
Unearned premium change			(30)			(2)			4			(1)			(28)			(6)			(32)			(34)				(35)				(31)
Earned premiums			$	189		$	180		$	188		$	174		$	174		$	162		$	369		$	336			$	510			$	698
Year over year change %
Agency renewal written premiums			8		%	7		%	2		%	15		%	10		%	12		%	8		%	11		%		12		%		9		%
Agency new business written premiums			6			9			20			2			24			26			8			25				16				17
Other written premiums			7			—			—			—			(40)			(22)			4			(32)				(21)				(15)
Net written premiums			8			8			8			11			12			15			8			13				13				11
Paid losses and loss expenses
Losses paid			$	46		$	36		$	43		$	42		$	38		$	40		$	83		$	78			$	121			$	163
Loss expenses paid			18			20			19			19			17			18			38			35				53				72
Loss and loss expenses paid			$	64		$	56		$	62		$	61		$	55		$	58		$	121		$	113			$	174			$	235
Incurred losses and loss expenses
Loss and loss expense incurred			$	118		$	110		$	108		$	108		$	110		$	99		$	228		$	209			$	317			$	425
Loss and loss expenses paid as a % of incurred			54.2		%	50.9		%	57.4		%	56.5		%	50.0		%	58.6		%	53.1		%	54.1		%		54.9		%		55.3		%
Statutory combined ratio
Loss ratio			44.7		%	43.6		%	39.1		%	42.8		%	43.8		%	43.1		%	44.1		%	43.4		%		43.2		%		42.1		%
Loss adjustment expense ratio			17.7			17.6			18.4			19.2			19.7			17.8			17.7			18.8				19.0				18.8
Net underwriting expense ratio			26.3			28.6			27.3			26.6			25.3			25.5			27.4			25.4				25.8				26.2
Statutory combined ratio			88.7		%	89.8		%	84.8		%	88.6		%	88.8		%	86.4		%	89.2		%	87.6		%		88.0		%		87.1		%
Contribution from catastrophe losses			0.8			0.7			(0.6)			0.1			1.3			0.3			0.7			0.9				0.6				0.3
Statutory combined ratio excl. catastrophe losses			87.9		%	89.1		%	85.4		%	88.5		%	87.5		%	86.1		%	88.5		%	86.7		%		87.4		%		86.8		%
GAAP combined ratio
GAAP combined ratio			90.5		%	89.3		%	84.7		%	89.8		%	91.1		%	88.3		%	89.9		%	89.8		%		89.8		%		88.4		%
Contribution from catastrophe losses			0.8			0.7			(0.6)			0.1			1.3			0.3			0.7			0.9				0.6				0.3
GAAP combined ratio excl. catastrophe losses			89.7		%	88.6		%	85.3		%	89.7		%	89.8		%	88.0		%	89.2		%	88.9		%		89.2		%		88.1		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Second-Quarter 2026 Supplemental Financial Data


Consolidated Cincinnati Insurance Companies
Statutory Statements of Income

	For the Three Months Ended June 30,							For the Six Months Ended June 30,
(Dollars in millions)	2026		2025		Change		% Change	2026		2025		Change		% Change
Underwriting income
Net premiums written	$	2,727	$	2,636	$	91	3	$	5,297	$	5,055	$	242	5
Unearned premium change	254		304		(50)		(16)	378		523		(145)		(28)
Earned premiums	$	2,473	$	2,332	$	141	6	$	4,919	$	4,532	$	387	9

Losses incurred	$	1,497	$	1,291	$	206	16	$	2,876	$	2,883	$	(7)	—
Defense and cost containment expenses incurred	126		139		(13)		(9)	259		265		(6)		(2)
Adjusting and other expenses incurred	132		131		1		1	263		263		—		—
Other underwriting expenses incurred	764		696		68		10	1,495		1,377		118		9
Workers compensation dividend incurred	—		1		(1)		(100)	1		2		(1)		(50)
Total underwriting deductions	$	2,519	$	2,258	$	261	12	$	4,894	$	4,790	$	104	2

Net underwriting profit (loss)	$	(46)	$	74	$	(120)	nm	$	25	$	(258)	$	283	nm

Investment income
Gross investment income earned	$	217	$	195	$	22	11	$	429	$	379	$	50	13
Net investment income earned	213		193		20		10	422		374		48		13
Net realized capital gains and losses, net	269		(7)		276		nm	436		(7)		443		nm
Net investment gains (net of tax)	$	482	$	186	$	296	159	$	858	$	367	$	491	134

Other income	$	1	$	1	$	—	—	$	3	$	3	$	—	—

Net income before federal income taxes	$	437	$	261	$	176	67	$	886	$	112	$	774	691
Federal and foreign income taxes incurred	28		49		(21)		(43)	56		(13)		69		nm
Net income (statutory)	$	409	$	212	$	197	93	$	830	$	125	$	705	564

Policyholders' surplus - statutory	$	10,474	$	8,850	$	1,624	18	$	10,474	$	8,850	$	1,624	18

Fixed maturities at amortized cost - statutory	$	14,763	$	13,037	$	1,726	13	$	14,763	$	13,037	$	1,726	13
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Second-Quarter 2026 Supplemental Financial Data


The Cincinnati Life Insurance Company
Statutory Statements of Income

	For the Three Months Ended June 30,							For the Six Months Ended June 30,
(Dollars in millions)	2026		2025		Change		% Change	2026		2025		Change		% Change
Net premiums written	$	96	$	93	$	3	3	$	183	$	172	$	11	6
Net investment income	55		50		5		10	109		100		9		9

Commissions and expense allowances on reinsurance ceded	1		1		—		—	2		2		—		—
Income from fees associated with separate accounts	2		2		—		—	3		3		—		—
Total revenues	$	154	$	146	$	8	5	$	297	$	277	$	20	7

Death benefits and matured endowments	$	47	$	40	$	7	18	$	96	$	96	$	—	—
Annuity benefits	18		20		(2)		(10)	38		43		(5)		(12)
Disability benefits and benefits under accident and health contracts	1		1		—		—	1		1		—		—
Surrender benefits and group conversions	12		10		2		20	24		20		4		20
Interest and adjustments on deposit-type contract funds	(1)		2		(3)		nm	—		4		(4)		(100)
Increase in aggregate reserves for life and accident and health contracts	5		2		3		150	3		(7)		10		nm
Total benefit expenses	$	82	$	75	$	7	9	$	162	$	157	$	5	3

Commissions	$	13	$	12	$	1	8	$	26	$	24	$	2	8
General insurance expenses and taxes	16		16		—		—	31		31		—		—
Increase in loading on deferred and uncollected premiums	(2)		(1)		(1)		(100)	(1)		2		(3)		nm
Net transfers from separate accounts	(6)		—		(6)		nm	(7)		(8)		1		13

Total underwriting expenses	$	21	$	27	$	(6)	(22)	$	49	$	49	$	—	—

Federal and foreign income taxes incurred	12		11		1		9	19		17		2		12

Net gain from operations before capital gains and losses	$	39	$	33	$	6	18	$	67	$	54	$	13	24

Gains and losses net of capital gains tax, net	(1)		(5)		4		80	(2)		(6)		4		67

Net income (statutory)	$	38	$	28	$	10	36	$	65	$	48	$	17	35

Policyholders' surplus - statutory	$	658	$	556	$	102	18	$	658	$	556	$	102	18

Fixed maturities at amortized cost - statutory	$	3,922	$	3,854	$	68	2	$	3,922	$	3,854	$	68	2
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Second-Quarter 2026 Supplemental Financial Data



Quarterly Data - Other

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/26	9/30/26	6/30/26			3/31/26			12/31/25			9/30/25			6/30/25			3/31/25			6/30/26			6/30/25			9/30/26	9/30/25			12/31/26	12/31/25
Cincinnati Re:
Net written premiums			$	191		$	254		$	86		$	87		$	164		$	255		$	445		$	418			$	505			$	591
Year over year change %- written premium			16		%	—		%	(13)		%	(2)		%	(21)		%	26		%	6		%	2		%		1		%		(1)		%
Earned premiums			$	153		$	152		$	138		$	141		$	142		$	161		$	305		$	303			$	444			$	582
Current accident year before catastrophe losses			47.8		%	46.7		%	52.7		%	52.9		%	56.2		%	46.6		%	47.3		%	51.1		%		51.7		%		51.9		%
Current accident year catastrophe losses			6.1			8.1			(0.8)			3.6			(0.6)			66.3			7.1			34.9				25.0				18.9
Prior accident years before catastrophe losses			3.6			3.2			(5.3)			(0.9)			5.7			(4.5)			3.4			0.3				(0.1)				(1.3)
Prior accident years catastrophe losses			1.3			(6.5)			0.4			(2.1)			(1.2)			(2.4)			(2.6)			(1.8)				(1.9)				(1.4)
Total loss and loss expense ratio			58.8		%	51.5		%	47.0		%	53.5		%	60.1		%	106.0		%	55.2		%	84.5		%		74.7		%		68.1		%

Cincinnati Global:
Net written premiums			$	98		$	98		$	79		$	82		$	97		$	75		$	196		$	173			$	255			$	334
Year over year change %- written premium			1		%	31		%	3		%	6		%	45		%	(9)		%	13		%	16		%		13		%		10		%
Earned premiums			$	75		$	73		$	80		$	102		$	65		$	64		$	148		$	129			$	231			$	311
Current accident year before catastrophe losses			69.1		%	42.5		%	35.6		%	35.1		%	41.8		%	39.3		%	56.1		%	40.6		%		38.2		%		37.5		%
Current accident year catastrophe losses			20.6			2.4			14.3			0.5			3.7			31.4			11.6			17.4				9.9				11.0
Prior accident years before catastrophe losses			(13.0)			(12.0)			(1.7)			(10.1)			(22.4)			(0.2)			(12.5)			(11.4)				(10.8)				(8.5)
Prior accident years catastrophe losses			(6.8)			0.4			(4.0)			(0.1)			17.3			(13.9)			(3.3)			1.8				0.9				(0.3)
Total loss and loss expense ratio			69.9		%	33.3		%	44.2		%	25.4		%	40.4		%	56.6		%	51.9		%	48.4		%		38.2		%		39.7		%

Noninsurance operations:
Interest and fees on loans and leases			$	3		$	3		$	3		$	3		$	2		$	3		$	6		$	5			$	8			$	11
Other revenue			4			3			3			3			3			1			7			4				7				10
Interest expense			14			13			13			13			14			13			27			27				40				53
Operating expenses			11			9			7			6			10			11			20			21				27				34
Total noninsurance operations loss			$	(18)		$	(16)		$	(14)		$	(13)		$	(19)		$	(20)		$	(34)		$	(39)			$	(52)			$	(66)

*Dollar amounts shown are in conformity with GAAP and rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.
*Noninsurance operations include the noninvestment operations of the parent company and a noninsurance subsidiary, CFC Investment Company.

CINF Second-Quarter 2026 Supplemental Financial Data

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Cincinnati Financial (Nasdaq: CINF) Q2 net income jumps to $1.26B

Rhea-AI Filing Summary

Positive

Negative

Insights

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Cincinnati Financial (CINF) perform financially in Q2 2026?

What was Cincinnati Financial’s (CINF) non-GAAP operating income in Q2 2026?

How did catastrophe losses affect Cincinnati Financial (CINF) in Q2 2026?

How did Cincinnati Financial’s (CINF) investment portfolio perform in Q2 2026?

How did Cincinnati Financial’s (CINF) insurance segments perform in Q2 2026?

Filing Exhibits & Attachments

Press Releases

Other Documents