What was Cincinnati Financial’s book value per share and value creation ratio?

Book value per share was $101.60 at March 31, 2026 , down $0.75 from year-end. The value creation ratio for the first three months of 2026 was 0.2% , combining book value change and dividends relative to beginning book value.

Cincinnati Financial (CINF) swings to Q1 2026 profit with better underwriting

Q: How did Cincinnati Financial (CINF) perform financially in Q1 2026?

Cincinnati Financial reported Q1 2026 net income of $274 million , or $1.75 per diluted share, versus a net loss of $90 million a year earlier. Non-GAAP operating income was $330 million , or $2.10 per share, showing a strong earnings rebound.

Q: What happened to Cincinnati Financial’s revenues in the first quarter of 2026?

Total revenues for Cincinnati Financial in Q1 2026 were $2.863 billion , up 12% from Q1 2025. Earned premiums grew 11% to $2.604 billion , and investment income increased 14% to $318 million , supporting the overall revenue rise.

Q: What were Cincinnati Financial’s key insurance segment results in Q1 2026?

In Q1 2026, personal lines achieved a combined ratio of 96.8% versus 151.3% a year earlier, commercial lines reported a 98.6% combined ratio, and excess and surplus lines posted a combined ratio of 89.3% . Net written premiums grew across property casualty operations.

Q: How did investments affect Cincinnati Financial in Q1 2026?

Pretax investment income rose 14% to $318 million , but total pretax investment losses were $290 million , including equity and fixed-maturity valuation changes. These losses contributed to a modest $0.75 decline in book value per share despite strong operating earnings.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Cincinnati Financial Corporation reported a sharp turnaround for the first quarter of 2026. Total revenues rose to $2.863 billion, up 12% from a year ago, as earned premiums grew 11% and investment income increased 14%.

Net income reached $274 million, or $1.75 per diluted share, compared with a net loss of $90 million, or $0.57 per share, in the first quarter of 2025. Non-GAAP operating income was $330 million, or $2.10 per share, versus a $37 million operating loss a year earlier, helped by a $233 million after-tax reduction in catastrophe losses.

The consolidated property casualty combined ratio improved to 95.6% from 113.3%, driven mainly by much lower catastrophe losses and better underlying loss trends, especially in personal lines. Book value per share was $101.60 at March 31, 2026, down $0.75 since year-end, reflecting investment portfolio losses despite stronger underwriting and operating results.

Positive

Sharp earnings turnaround: Q1 2026 net income of $274 million and non-GAAP operating income of $330 million compare with prior-year losses, reflecting stronger underwriting and higher investment income.
Underwriting improvement: The consolidated property casualty combined ratio improved to 95.6% from 113.3%, with lower catastrophe losses and a better current accident year combined ratio before catastrophes of 87.5%.

Negative

Book value pressure from investments: Book value per share declined $0.75 in the quarter to $101.60, as investment portfolio losses and other items more than offset net income and were only partly cushioned by operating strength.

Insights

CINF delivered a strong earnings rebound driven by underwriting and investment income.

Cincinnati Financial moved from a prior-year loss to Q1 2026 net income of $274 million and non-GAAP operating income of $330 million. Total revenues rose 12% to $2.863 billion, supported by 11% earned premium growth and a 14% increase in investment income.

Property casualty performance improved markedly. The combined ratio fell to 95.6% from 113.3%, with catastrophe losses dropping and the current accident year combined ratio before catastrophes improving to 87.5%. Personal lines, previously a drag, produced a 96.8% combined ratio versus 151.3% a year earlier.

Balance sheet metrics were generally stable. Book value per share was $101.60 at March 31, 2026, down $0.75 since year-end, as net income was offset by equity and fixed-income valuation losses and dividends. The value creation ratio was 0.2% for the first three months of 2026, highlighting modest net capital formation after market impacts.

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

Total revenues: $2.863 billion Net income: $274 million Non-GAAP operating income: $330 million +4 more

7 metrics

Total revenues $2.863 billion Three months ended March 31, 2026; up 12% year over year

Net income $274 million Q1 2026 vs. $90 million net loss in Q1 2025

Non-GAAP operating income $330 million Q1 2026 vs. $37 million operating loss in Q1 2025

Property casualty combined ratio 95.6% First quarter 2026 vs. 113.3% in first quarter 2025

Book value per share $101.60 As of March 31, 2026; down $0.75 since year-end 2025

Pretax investment income $318 million Three months ended March 31, 2026; 14% increase year over year

Value creation ratio 0.2% First three months of 2026

Key Terms

non-GAAP operating income, combined ratio, catastrophe losses, book value per share, +2 more

6 terms

non-GAAP operating income financial

"First-quarter 2026 non-GAAP operating income* of $330 million, or $2.10 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

"95.6% first-quarter 2026 property casualty combined ratio, improved from 113.3% for the first quarter of 2025."

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.

catastrophe losses financial

"The increase of $367 million included a favorable effect of $233 million from a decrease in after-tax catastrophe losses."

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.

value creation ratio financial

"0.2% value creation ratio for the first three months of 2026, compared with negative 0.5% for the same period of 2025."

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.

statutory accounting rules regulatory

"Statutory data is prepared in accordance with statutory accounting rules for insurance company regulation"

Earnings Snapshot

Total revenues: $2.863 billion

Q1 2026

Total revenues $2.863 billion +12% YoY

Net income $274 million vs. $90 million net loss prior-year quarter

Non-GAAP operating income $330 million vs. $37 million operating loss prior-year quarter

Property casualty combined ratio 95.6% from 113.3% in Q1 2025

Understanding 8-K Material Events →

04/27/2026 - 04:08 PM

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: April 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 April 27, 2026, Cincinnati Financial Corporation issued the attached news release titled “Cincinnati Financial Reports First-Quarter 2026 Results,” furnished as Exhibit 99.1 hereto and incorporated herein by reference. On April 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 April 27, 2026, titled "Cincinnati Financial Reports First-Quarter 2026 Results"

Exhibit 99.2 — Supplemental Financial Data for the period ending March 31, 2026 distributed April 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: April 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: Dennis E. McDaniel, 513-870-2768

CINF-IR@cinfin.com

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

Media_Inquiries@cinfin.com

Cincinnati Financial Reports First-Quarter 2026 Results

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

•First-quarter 2026 net income of $274 million, or $1.75 per share, compared with a net loss of $90 million, or $0.57 per share, in the first quarter of 2025, after recognizing an $82 million first-quarter 2026 after-tax decrease in the fair value of equity securities still held.

•First-quarter 2026 non-GAAP operating income* of $330 million, or $2.10 per share, compared with an operating loss of $37 million, or $0.24 per share, in the first quarter of last year. The increase of $367 million included a favorable effect of $233 million from a decrease in after-tax catastrophe losses.

•$364 million increase in first-quarter 2026 net income, compared with first-quarter 2025, primarily due to after-tax net increases of $326 million from property casualty underwriting profit and $31 million from investment income.

•$101.60 book value per share at March 31, 2026, down $0.75 since year-end.

•0.2% value creation ratio for the first three months of 2026, compared with negative 0.5% for the same period of 2025.

Financial Highlights


(Dollars in millions, except per share data)	Three months ended March 31,
		2026		2025		% Change
Revenue Data
Earned premiums		$	2,604	$	2,344	11
Investment income, net of expenses		318		280		14
Total revenues		2,863		2,566		12
Income Statement Data
Net income (loss)		$	274	$	(90)	nm
Investment gains and losses, after-tax		(56)		(53)		(6)

Non-GAAP operating income (loss)*		$	330	$	(37)	nm
Per Share Data (diluted)
Net income (loss)		$	1.75	$	(0.57)	nm
Investment gains and losses, after-tax		(0.35)		(0.33)		(6)

Non-GAAP operating income (loss)*		$	2.10	$	(0.24)	nm

Book value		$	101.60	$	87.78	16
Cash dividend declared		$	0.94	$	0.87	8
Diluted weighted average shares outstanding		157.0		156.4		0

* 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 1Q26 Release 1

Insurance Operations Highlights

•95.6% first-quarter 2026 property casualty combined ratio, improved from 113.3% for the first quarter of 2025.

•7% growth in first-quarter net written premiums, including price increases, premium growth initiatives, a higher level of insured exposures and with 2% of the growth due to first-quarter 2025 net reinstatement premiums.

•$339 million first-quarter 2026 property casualty new business written premiums, down 11%. Agencies appointed since the beginning of 2025 contributed $23 million or 7% of total new business written premiums.

•$26 million first-quarter 2026 life insurance subsidiary net income, up $5 million compared with the first quarter of 2025, and 7% growth in first-quarter 2026 term life insurance earned premiums.

Investment and Balance Sheet Highlights

•14% or $38 million increase in first-quarter 2026 pretax investment income, including a 12% increase in bond interest income and a 13% increase in stock portfolio dividends.

•Three-month increase of 1% in fair value of total investments at March 31, 2026, including a 2% increase for the bond portfolio and a 1% decrease for the stock portfolio.

•$5.550 billion parent company cash and marketable securities at March 31, 2026, down less than 1% from year-end 2025.

Solid Start to the Year

Stephen M. Spray, president and CEO, commented: “We recorded $330 million of non-GAAP operating income in the first quarter compared to a loss of $37 million a year ago.

“The first-quarter results for our insurance operations laid a nice foundation for us to build on for the rest of the year. Our 95.6% combined ratio improved almost 18 points from last year’s 113.3%. While lower catastrophe losses drove much of the improvement, we also saw a decline in our current accident year combined ratio before catastrophe losses – giving us confidence in the health of our overall book of business. As we continue to refine pricing segmentation and risk selection, we’ve lowered that ratio by 3 points compared with last year’s first quarter to 87.5%.

“Robust results from our investment operations also contributed. Pretax investment income rose $38 million in the first quarter as dividends from our equity portfolio increased 13% and bond interest income grew 12%.”

Focus on Underwriting Discipline

“Since 2018, we’ve doubled the size of our insurance portfolio, growing from around $5 billion in net written premiums to more than $10 billion at the end of 2025. We intend to continue growing through all market cycles, and we understand that growth can’t come at the cost of underwriting profitability.

“Consolidated net written premiums grew 7% compared with first-quarter 2025. While average renewal pricing increases moderated slightly, we continued to price on a policy-by-policy basis. The pricing sophistication we’ve built into our underwriting process allows our underwriters to charge what we believe is an appropriate rate for the risk we are assuming based on each account’s unique characteristics. That rate might be higher or lower than the average.

“For the remainder of the year, we’ll lean into our strategy of appointing more agencies and offering new products as a means to continue delivering profitable growth. In just the first three months of 2026, we’ve appointed 108 agencies across the U.S. We also continued to add new products, especially in excess and surplus lines.

“E&S isn’t the market of last resort anymore. While it remains flexible in terms and rates, our approach to this business has been more strategic. We often find that if we can write one portion of the account through our E&S operations, we have a better chance of placing other risks for that account in our standard business.”

Confidence in the Future

“At March 31, parent company cash and marketable securities remained strong at more than $5 billion, and our equity portfolio holds more than $8 billion in appreciated value before taxes. In January, the board of directors expressed its confidence in our financial strength by again raising the cash dividend.

“Our associates are determined to do things just a little better every day, strengthening our ability to compete by enhancing the advantages of our local independent agencies. That has been and continues to be our plan for creating shareholder value far into the future.”

CINF 1Q26 Release 2

Insurance Operations Highlights

Consolidated Property Casualty Insurance Results


(Dollars in millions)	Three months ended March 31,
		2026			2025			% Change
Earned premiums		$	2,519		$	2,264		11
Fee revenues		4			4			0
Total revenues		2,523			2,268			11

Loss and loss expenses		1,667			1,887			(12)
Underwriting expenses		741			679			9
Underwriting profit (loss)		$	115		$	(298)		nm

Ratios as a percent of earned premiums:								Pt. Change
Loss and loss expenses		66.2		%	83.3		%	(17.1)
Underwriting expenses		29.4			30.0			(0.6)
Combined ratio		95.6		%	113.3		%	(17.7)

								% Change
Agency renewal written premiums		$	2,045		$	1,912		7
Agency new business written premiums		339			383			(11)


Other written premiums		284			200			42
Net written premiums		$	2,668		$	2,495		7

Ratios as a percent of earned premiums:								Pt. Change
Current accident year before catastrophe losses		58.1		%	60.5		%	(2.4)
Current accident year catastrophe losses		11.3			26.8			(15.5)
Prior accident years before catastrophe losses		(2.7)			(2.2)			(0.5)
Prior accident years catastrophe losses		(0.5)			(1.8)			1.3
Loss and loss expense ratio		66.2		%	83.3		%	(17.1)

Current accident year combined ratio before catastrophe losses		87.5		%	90.5		%	(3.0)

•$173 million or 7% growth of first-quarter 2026 property casualty net written premiums, reflecting premium growth initiatives, price increases and a higher level of insured exposures. The growth included the effect of $52 million of net reinstatement premiums in first-quarter 2025 related to the January 2025 wildfires in southern California. The contribution to first-quarter growth from Cincinnati Re® and Cincinnati Global Underwriting Ltd.SM in total was 0.9 percentage points.

•$44 million decrease in first-quarter 2026 new business premiums written by agencies, due to our personal lines insurance segment. The $44 million decrease included a $19 million increase in production from agencies appointed since the beginning of 2025.

•108 new agency appointments in the first three months of 2026, including 19 that market only our personal lines products.

•17.7 percentage-point first-quarter 2026 combined ratio improvement, including a decrease of 14.2 points for losses from catastrophes.

•3.2 percentage-point first-quarter 2026 benefit from favorable prior accident year reserve development of $81 million, compared with 4.0 points or $91 million for first-quarter 2025.

•2.4 percentage-point improvement in the three-month 2026 ratio for current accident year loss and loss expenses before catastrophes, including a favorable 1.4 points due to the effect of net reinstatement premiums in first-quarter 2025.

•0.6 percentage-point decrease in the underwriting expense ratio for the first three months of 2026, compared with the same period of 2025. The 2025 ratio included an unfavorable 0.7 points from the effect of net reinstatement premiums in first-quarter 2025.

CINF 1Q26 Release 3

Commercial Lines Insurance Results


(Dollars in millions)	Three months ended March 31,
		2026			2025			% Change
Earned premiums		$	1,241		$	1,179		5
Fee revenues		1			2			(50)
Total revenues		1,242			1,181			5

Loss and loss expenses		847			735			15
Underwriting expenses		377			349			8
Underwriting profit		$	18		$	97		(81)

Ratios as a percent of earned premiums:								Pt. Change
Loss and loss expenses		68.2		%	62.3		%	5.9
Underwriting expenses		30.4			29.6			0.8
Combined ratio		98.6		%	91.9		%	6.7

								% Change
Agency renewal written premiums		$	1,184		$	1,152		3
Agency new business written premiums		205			203			1
Other written premiums		(30)			(30)			0
Net written premiums		$	1,359		$	1,325		3

Ratios as a percent of earned premiums:								Pt. Change
Current accident year before catastrophe losses		62.8		%	61.1		%	1.7
Current accident year catastrophe losses		9.7			4.8			4.9
Prior accident years before catastrophe losses		(4.2)			(2.4)			(1.8)
Prior accident years catastrophe losses		(0.1)			(1.2)			1.1
Loss and loss expense ratio		68.2		%	62.3		%	5.9

Current accident year combined ratio before catastrophe losses		93.2		%	90.7		%	2.5

•$34 million or 3% growth in first-quarter 2026 commercial lines net written premiums, primarily due to higher agency renewal premiums.

•$32 million or 3% increase in first-quarter renewal written premiums, with commercial lines average renewal pricing increases near the high end of the low-single-digit percent range.

•$2 million or 1% increase in first-quarter 2026 new business premiums written by agencies, as we continue to carefully underwrite each policy in a highly competitive market.

•6.7 percentage-point first-quarter 2026 combined ratio increase, including an increase of 6.0 points for losses from catastrophes.

•4.3 percentage-point first-quarter 2026 benefit from favorable prior accident year reserve development of $53 million, compared with 3.6 points or $43 million for first-quarter 2025.

CINF 1Q26 Release 4

Personal Lines Insurance Results


(Dollars in millions)	Three months ended March 31,
		2026			2025			% Change
Earned premiums		$	873		$	698		25
Fee revenues		2			1			100
Total revenues		875			699			25

Loss and loss expenses		607			846			(28)
Underwriting expenses		238			210			13
Underwriting profit (loss)		$	30		$	(357)		nm

Ratios as a percent of earned premiums:								Pt. Change
Loss and loss expenses		69.5		%	121.2		%	(51.7)
Underwriting expenses		27.3			30.1			(2.8)
Combined ratio		96.8		%	151.3		%	(54.5)

								% Change
Agency renewal written premiums		$	726		$	634		15
Agency new business written premiums		76			127			(40)
Other written premiums		(27)			(89)			70
Net written premiums		$	775		$	672		15

Ratios as a percent of earned premiums:								Pt. Change
Current accident year before catastrophe losses		53.2		%	63.3		%	(10.1)
Current accident year catastrophe losses		17.1			60.6			(43.5)
Prior accident years before catastrophe losses		(0.5)			(0.8)			0.3
Prior accident years catastrophe losses		(0.3)			(1.9)			1.6
Loss and loss expense ratio		69.5		%	121.2		%	(51.7)

Current accident year combined ratio before catastrophe losses		80.5		%	93.4		%	(12.9)

•$103 million or 15% growth in first-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. The growth included the effect of $64 million or 10% from other written premiums due to reinstatement premiums in first-quarter 2025.

•$51 million or 40% decrease in first-quarter 2026 new business premiums written by agencies, as we continue to carefully underwrite each policy in a highly competitive market.

•54.5 percentage-point first-quarter 2026 combined ratio improvement, including a decrease of 41.9 points for losses from catastrophes.

•0.8 percentage-point first-quarter 2026 favorable prior accident year reserve development of $7 million, compared with 2.7 points or $19 million for first-quarter 2025.

•10.1 percentage-point improvement in the three-month 2026 ratio for current accident year loss and loss expenses before catastrophes, including 5.3 points for the effect of 2025 reinstatement premiums.

•2.8 percentage-point decrease in the underwriting expense ratio for the first three months of 2026, compared with the same period of 2025, reflecting a favorable 2.5 points for the effect of first-quarter 2025 reinstatement premiums.

CINF 1Q26 Release 5

Excess and Surplus Lines Insurance Results


(Dollars in millions)	Three months ended March 31,
		2026			2025			% Change
Earned premiums		$	180		$	162		11
Fee revenues		1			1			0
Total revenues		181			163			11

Loss and loss expenses		110			99			11
Underwriting expenses		50			44			14
Underwriting profit		$	21		$	20		5

Ratios as a percent of earned premiums:								Pt. Change
Loss and loss expenses		61.2		%	60.9		%	0.3
Underwriting expenses		28.1			27.4			0.7
Combined ratio		89.3		%	88.3		%	1.0

								% Change
Agency renewal written premiums		$	135		$	126		7
Agency new business written premiums		58			53			9
Other written premiums		(11)			(11)			0
Net written premiums		$	182		$	168		8

Ratios as a percent of earned premiums:								Pt. Change
Current accident year before catastrophe losses		64.6		%	65.6		%	(1.0)
Current accident year catastrophe losses		1.1			0.8			0.3
Prior accident years before catastrophe losses		(4.1)			(5.0)			0.9
Prior accident years catastrophe losses		(0.4)			(0.5)			0.1
Loss and loss expense ratio		61.2		%	60.9		%	0.3

Current accident year combined ratio before catastrophe losses		92.7		%	93.0		%	(0.3)

•$14 million or 8% growth in first-quarter 2026 excess and surplus lines net written premiums, including higher agency renewal written premiums that benefited from price increases averaging in the mid-single-digit percent range.

•$5 million or 9% increase in first-quarter 2026 new business premiums written by agencies, as we continue to carefully underwrite each policy in a highly competitive market.

•1.0 percentage-point first-quarter 2026 combined ratio increase, driven by 1.0 points of less favorable reserve development on prior accident year loss and loss expenses.

•4.5 percentage-point first-quarter 2026 benefit from favorable prior accident year reserve development of $8 million, compared with 5.5 points or $9 million for first-quarter 2025.

CINF 1Q26 Release 6

Life Insurance Subsidiary Results


(Dollars in millions)	Three months ended March 31,
		2026		2025		% Change
Term life insurance		$	61	$	57	7
Whole life insurance		14		13		8
Universal life and other		10		10		0
Earned premiums		85		80		6
Investment income, net of expenses		54		50		8
Investment gains and losses, net		—		(1)		100
Fee revenues		1		1		0
Total revenues		140		130		8
Contract holders’ benefits incurred		84		81		4
Underwriting expenses incurred		23		23		0
Total benefits and expenses		107		104		3
Net income before income tax		33		26		27
Income tax provision		7		5		40
Net income of the life insurance subsidiary		$	26	$	21	24

•$5 million increase in first-quarter 2026 earned premiums, including a 7% increase for term life insurance, our largest life insurance product line.

•$5 million increase in three-month 2026 life insurance subsidiary net income, primarily due to increased investment income, increased earned premiums and decreased investment losses from fixed-maturity securities.

•$8 million or 1% three-month 2026 decrease, to $1.459 billion, in GAAP shareholders’ equity for the life insurance subsidiary, primarily from an increase in unrealized investment losses on fixed-maturity securities, largely offset by net income.

CINF 1Q26 Release 7

Investment and Balance Sheet Highlights

Investments Results


(Dollars in millions)	Three months ended March 31,
		2026			2025			% Change
Investment income, net of expenses		$	318		$	280		14
Investment interest credited to contract holders		(32)			(32)			0
Investment gains and losses, net		(70)			(67)			(4)
Investments profit		$	216		$	181		19

Investment income:
Interest		$	235		$	210		12
Dividends		76			67			13
Other		12			7			71
Less investment expenses		5			4			25
Investment income, pretax		318			280			14
Less income taxes		55			48			15
Total investment income, after-tax		$	263		$	232		13

Investment returns:
Average invested assets plus cash and cash equivalents		$	33,504		$	29,946
Average yield pretax		3.80		%	3.74		%
Average yield after-tax		3.14			3.10
Effective tax rate		17.2			17.2
Fixed-maturity returns:
Average amortized cost		$	18,724		$	17,071
Average yield pretax		5.02		%	4.92		%
Average yield after-tax		4.10			4.02
Effective tax rate		18.4			18.3

•$38 million or 14% rise in first-quarter 2026 pretax investment income, including a 12% increase in interest income from fixed-maturity securities and a 13% increase in equity portfolio dividends.

•$290 million in first-quarter 2026 pretax total investment losses, 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 March 31,
		2026		2025
Investment gains and losses on equity securities sold, net		$	33	$	(1)
Unrealized gains and losses on equity securities still held, net		(104)		(71)
Investment gains and losses on fixed-maturity securities, net		—		(2)
Other		1		7
Subtotal - investment gains and losses reported in net income		(70)		(67)

Change in unrealized investment gains and losses - fixed maturities		(220)		67
Total		$	(290)	$	—

CINF 1Q26 Release 8

Balance Sheet Highlights


(Dollars in millions, except share data)	At March 31,				At December 31,
		2026				2025
Total investments		$	32,001			$	31,783
Total assets		41,211				41,002
Short-term debt		25				25
Long-term debt		791				790
Shareholders’ equity		15,714				15,911
Book value per share		101.60				102.35
Debt-to-total-capital ratio		4.9		%		4.9		%

•$33.211 billion in consolidated cash and total investments at March 31, 2026, a decrease of less than 1% from $33.214 billion at year-end 2025.

•$18.545 billion bond portfolio at March 31, 2026, with an average rating of A2/A. Fair value increased $422 million during the first quarter of 2026, including $624 million in net purchases of fixed-maturity securities.

•$12.569 billion equity portfolio was 39.3% of total investments, including $8.143 billion in appreciated value before taxes at March 31, 2026. First-quarter 2026 decrease in fair value of $125 million, including $54 million in net sales of equity securities.

•$0.75 first-quarter 2026 decrease in book value per share, including an addition of $2.14 of net income before investment gains that were partially offset by $1.48 from investment portfolio net investment losses or changes in unrealized gains for fixed-maturity securities, $0.47 for other items and $0.94 from dividends declared to shareholders.

•Value creation ratio of 0.2% for the first three months of 2026, including 2.1% from net income before investment gains, which includes underwriting and investment income, partially offset by 1.1% from changes in unrealized gains for fixed-maturity securities, 0.4% from investment losses for equity securities and 0.4% 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 1Q26 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 1Q26 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 1Q26 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 1Q26 Release 12

Cincinnati Financial Corporation

Condensed Consolidated Balance Sheets and Statements of Income (unaudited)


(Dollars in millions)		March 31,		December 31,
		2026		2025
Assets
Investments		$	32,001	$	31,783
Cash and cash equivalents		1,210		1,431

Premiums receivable		3,321		3,142
Reinsurance recoverable		627		655
Deferred policy acquisition costs		1,384		1,344
Other assets		2,668		2,647
Total assets		$	41,211	$	41,002

Liabilities
Insurance reserves		$	14,924	$	14,499
Unearned premiums		5,424		5,254
Deferred income tax		1,710		1,833
Long-term debt and lease obligations		859		861
Other liabilities		2,580		2,644
Total liabilities		25,497		25,091

Shareholders’ Equity
Common stock and paid-in capital		1,958		1,958
Retained earnings		16,848		16,719
Accumulated other comprehensive loss		(185)		(34)
Treasury stock		(2,907)		(2,732)
Total shareholders' equity		15,714		15,911
Total liabilities and shareholders' equity		$	41,211	$	41,002

(Dollars in millions, except per share data)	Three months ended March 31,
		2026		2025
Revenues
Earned premiums		$	2,604	$	2,344
Investment income, net of expenses		318		280
Investment gains and losses, net		(70)		(67)
Other revenues		11		9
Total revenues		2,863		2,566

Benefits and Expenses
Insurance losses and contract holders' benefits		1,751		1,968
Underwriting, acquisition and insurance expenses		764		702
Interest expense		13		13
Other operating expenses		9		11
Total benefits and expenses		2,537		2,694

Income (Loss) Before Income Taxes		326		(128)

Provision (Benefit) for Income Taxes		52		(38)

Net Income (Loss)		$	274	$	(90)

Per Common Share:
Net income (loss)—basic		$	1.77	$	(0.57)
Net income (loss)—diluted		1.75		(0.57)

CINF 1Q26 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 1Q26 Release 14

Cincinnati Financial Corporation


Net Income (Loss) Reconciliation

(Dollars in millions, except per share data)	Three months ended March 31,
		2026		2025
Net income (loss)		$	274	$	(90)
Less:
Investment gains and losses, net		(70)		(67)
Income tax on investment gains and losses		14		14
Investment gains and losses, after-tax		(56)		(53)

Non-GAAP operating income (loss)		$	330	$	(37)

Diluted per share data:
Net income (loss)		$	1.75	$	(0.57)
Less:
Investment gains and losses, net		(0.44)		(0.42)
Income tax on investment gains and losses		0.09		0.09
Investment gains and losses, after-tax		(0.35)		(0.33)

Non-GAAP operating income (loss)		$	2.10	$	(0.24)


Life Insurance Reconciliation

(Dollars in millions)	Three months ended March 31,
		2026		2025
Net income of the life insurance subsidiary		$	26	$	21
Investment gains and losses, net		—		(1)
Income tax on investment gains and losses		—		—
Non-GAAP operating income		26		22

Investment income, net of expenses		(54)		(50)
Investment income credited to contract holders		32		32
Income tax excluding tax on investment gains and losses, net		7		5
Life insurance segment profit		$	11	$	9

CINF 1Q26 Release 15


Property Casualty Insurance Reconciliation









(Dollars in millions)	Three months ended March 31, 2026
	Consolidated			Commercial			Personal			E&S				Other*
Premiums:
Net written premiums		$	2,668		$	1,359		$	775		$	182		$	352
Unearned premiums change		(149)			(118)			98			(2)			(127)
Earned premiums		$	2,519		$	1,241		$	873		$	180		$	225

Underwriting profit		$	115		$	18		$	30		$	21		$	46










(Dollars in millions)	Three months ended March 31, 2025
	Consolidated			Commercial			Personal			E&S			Other*
Premiums:
Net written premiums		$	2,495		$	1,325		$	672		$	168		$	330
Unearned premiums change		(231)			(146)			26			(6)			(105)
Earned premiums		$	2,264		$	1,179		$	698		$	162		$	225

Underwriting profit (loss)		$	(298)		$	97		$	(357)		$	20		$	(58)

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 1Q26 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 March 31,
		2026			2025





Value creation ratio:
End of period book value*		$	101.60		$	87.78
Less beginning of period book value		102.35			89.11
Change in book value		(0.75)			(1.33)
Dividend declared to shareholders		0.94			0.87
Total value creation		$	0.19		$	(0.46)

Value creation ratio from change in book value**		(0.7)		%	(1.5)		%
Value creation ratio from dividends declared to shareholders***		0.9			1.0
Value creation ratio		0.2		%	(0.5)		%

* 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 1Q26 Release 17

Cincinnati Financial Corporation

Supplemental Financial Data

for the period ending March 31, 2026

6200 South Gilmore Road

Fairfield, Ohio 45014-5141

cinfin.com


Investor Contact:	Media Contact:	Shareholder Contact:
Dennis E. McDaniel	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 April 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 First-Quarter 2026 Supplemental Financial Data


	Cincinnati Financial Corporation
	Supplemental Financial Data
	for the period ending March 31, 2026

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

Consolidated


	CFC and Subsidiaries Consolidation – Three Months Ended March 31, 2026	4


Consolidated Property Casualty Insurance Operations
	Losses Incurred Detail	5
	Loss Ratio Detail	6
	Loss Claim Count Detail	7

	Quarterly Property Casualty Data – Commercial Lines	8
	Quarterly Property Casualty Data – Personal Lines and Excess & Surplus Lines	9

	Loss and Loss Expense Analysis – Three Months Ended March 31, 2026	10

Reconciliation Data
	Quarterly Property Casualty Data – Consolidated	11
	Quarterly Property Casualty Data – Commercial Lines	12
	Quarterly Property Casualty Data – Personal Lines	13
	Quarterly Property Casualty Data – Excess & Surplus Lines	14

Statutory Statements of Income
	Consolidated Cincinnati Insurance Companies Statutory Statements of Income	15
	The Cincinnati Life Insurance Company Statutory Statements of Income	16

Other
	Quarterly Data – Other	17

CINF First-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 First-Quarter 2026 Supplemental Financial Data


Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended March 31, 2026

(Dollars in millions)	CFC		CONSOL P&C		CLIC		CFC-I		ELIM		Total
Revenues
Premiums earned:
Property casualty	$	—	$	2,615	$	—	$	—	$	—	$	2,615
Life	—		—		105		—		—		105
Premiums ceded	—		(96)		(20)		—		—		(116)
Total earned premium	—		2,519		85		—		—		2,604
Investment income, net of expenses	37		228		54		—		(1)		318
Investment gains and losses, net	(127)		58		—		—		(1)		(70)
Fee revenues	—		4		1		—		—		5
Other revenues	4		4		—		3		(5)		6
Total revenues	$	(86)	$	2,813	$	140	$	3	$	(7)	$	2,863

Benefits & expenses
Losses & contract holders' benefits	$	—	$	1,676	$	99	$	—	$	—	$	1,775
Reinsurance recoveries	—		(9)		(15)		—		—		(24)
Underwriting, acquisition and insurance expenses	—		741		23		—		—		764
Interest expense	13		—		—		1		(1)		13
Other operating expenses	12		2		—		1		(6)		9
Total expenses	$	25	$	2,410	$	107	$	2	$	(7)	$	2,537

Income (Loss) before income taxes	$	(111)	$	403	$	33	$	1	$	—	$	326

Provision (benefit) for income taxes
Current operating income	$	53	$	86	$	8	$	—	$	—	$	147
Capital gains/losses	(26)		13		—		—		—		(13)
Deferred	(54)		(27)		(1)		—		—		(82)
Total provision (benefit) for income taxes	$	(27)	$	72	$	7	$	—	$	—	$	52

Net income (loss) - current year	$	(84)	$	331	$	26	$	1	$	—	$	274

Net income (loss) - prior year	$	(70)	$	(42)	$	21	$	1	$	—	$	(90)
*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 First-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				$	8	$	27	$	48	$	15	$	26		$	41		$	89		$	116
Current accident year losses $2 million - $5 million				20		61		35		40		20			60			95			156
Large loss prior accident year reserve development				50		40		49		27		56			83			132			172
Total large losses incurred				$	78	$	128	$	132	$	82	$	102		$	184		$	316		$	444
Losses incurred but not reported				219		164		158		213		279			492			650			814
Other losses excluding catastrophe losses				838		786		831		741		688			1,429			2,260			3,046
Catastrophe losses				266		18		83		280		558			838			921			939
Total losses incurred				$	1,401	$	1,096	$	1,204	$	1,316	$	1,627		$	2,943		$	4,147		$	5,243
Commercial Lines
Current accident year losses greater than $5 million				$	—	$	11	$	48	$	5	$	7		$	12		$	60		$	71
Current accident year losses $2 million - $5 million				5		34		12		22		15			37			49			83
Large loss prior accident year reserve development				35		37		47		14		44			58			105			142
Total large losses incurred				$	40	$	82	$	107	$	41	$	66		$	107		$	214		$	296
Losses incurred but not reported				94		44		67		106		163			269			336			380
Other losses excluding catastrophe losses				441		408		405		383		318			701			1,106			1,514
Catastrophe losses				117		5		29		83		40			123			152			157
Total losses incurred				$	692	$	539	$	608	$	613	$	587		$	1,200		$	1,808		$	2,347
Personal Lines
Current accident year losses greater than $5 million				$	8	$	16	$	—	$	10	$	19		$	29		$	29		$	45
Current accident year losses $2 million - $5 million				15		25		23		18		5			23			46			71
Large loss prior accident year reserve development				15		3		2		13		12			25			27			30
Total large losses incurred				$	38	$	44	$	25	$	41	$	36		$	77		$	102		$	146
Losses incurred but not reported				71		39		32		37		74			111			143			182
Other losses excluding catastrophe losses				282		298		316		257		254			511			827			1,125
Catastrophe losses				144		6		54		186		405			591			645			651
Total losses incurred				$	535	$	387	$	427	$	521	$	769		$	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				38		24		16		31		46			77			93			117
Other losses excluding catastrophe losses				40		48		59		42		24			66			125			173
Catastrophe losses				1		(1)		—		3		—			3			3			2
Total losses incurred				$	79	$	73	$	75	$	76	$	70		$	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 First-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				0.3	%	1.1	%	1.9	%	0.6	%	1.2	%		0.9	%		1.3	%		1.2	%
Current accident year losses $2 million - $5 million				0.8		2.4		1.4		1.7		0.9			1.3			1.3			1.6
Large loss prior accident year reserve development				2.0		1.6		2.0		1.1		2.4			1.8			1.8			1.8
Total large loss ratio				3.1	%	5.1	%	5.3	%	3.4	%	4.5	%		4.0	%		4.4	%		4.6	%
Losses incurred but not reported				8.7		6.5		6.4		8.9		12.3			10.5			9.1			8.4
Other losses excluding catastrophe losses				33.2		31.4		33.4		30.9		30.4			30.6			31.6			31.6
Catastrophe losses				10.6		0.7		3.4		11.7		24.6			18.0			12.9			9.7
Total loss ratio				55.6	%	43.7	%	48.5	%	54.9	%	71.8	%		63.1	%		58.0	%		54.3	%
Commercial Lines
Current accident year losses greater than $5 million				—	%	0.9	%	3.9	%	0.5	%	0.6	%		0.5	%		1.7	%		1.5	%
Current accident year losses $2 million - $5 million				0.4		2.7		1.0		1.8		1.2			1.5			1.3			1.7
Large loss prior accident year reserve development				2.8		3.0		3.8		1.2		3.8			2.5			2.9			2.9
Total large loss ratio				3.2	%	6.6	%	8.7	%	3.5	%	5.6	%		4.5	%		5.9	%		6.1	%
Losses incurred but not reported				7.6		3.6		5.4		8.7		13.9			11.3			9.3			7.8
Other losses excluding catastrophe losses				35.5		32.8		33.0		31.6		26.8			29.3			30.5			31.2
Catastrophe losses				9.5		0.4		2.4		6.8		3.4			5.1			4.2			3.2
Total loss ratio				55.8	%	43.4	%	49.5	%	50.6	%	49.7	%		50.2	%		49.9	%		48.3	%
Personal Lines
Current accident year losses greater than $5 million				0.9	%	1.8	%	—	%	1.3	%	2.8	%		2.0	%		1.3	%		1.4	%
Current accident year losses $2 million - $5 million				1.8		2.8		2.9		2.2		0.7			1.5			2.0			2.2
Large loss prior accident year reserve development				1.8		0.4		0.2		1.5		1.8			1.6			1.1			0.9
Total large loss ratio				4.5	%	5.0	%	3.1	%	5.0	%	5.3	%		5.1	%		4.4	%		4.5	%
Losses incurred but not reported				8.1		4.5		3.8		4.7		10.5			7.4			6.1			5.7
Other losses excluding catastrophe losses				32.3		34.8		37.5		32.0		36.4			34.1			35.4			35.2
Catastrophe losses				16.4		0.8		6.5		23.1		57.9			39.3			27.5			20.4
Total loss ratio				61.3	%	45.1	%	50.9	%	64.8	%	110.1	%		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				20.8		12.7		9.2		18.1		28.1			23.0			18.3			16.8
Other losses excluding catastrophe losses				22.1		26.0		33.6		24.4		14.8			19.7			24.4			24.8
Catastrophe losses				0.7		(0.6)		—		1.3		0.2			0.8			0.5			0.2
Total loss ratio				43.6	%	39.1	%	42.8	%	43.8	%	43.1	%		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 First-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				1	3	6	2	3		5		12		15
Current accident year reported losses $2 million - $5 million				7	21	17	14	7		21		32		53
Prior accident year reported losses on large losses				17	15	11	13	15		28		39		54
Non-Catastrophe reported losses on large losses total				25	39	34	29	25		54		83		122
Commercial Lines
Current accident year reported losses greater than $5 million				—	2	6	1	1		2		9		10
Current accident year reported losses $2 million - $5 million				2	11	9	7	5		12		16		28
Prior accident year reported losses on large losses				13	14	11	10	11		21		32		46
Non-Catastrophe reported losses on large losses total				15	27	26	18	17		35		57		84
Personal Lines
Current accident year reported losses greater than $5 million				1	1	—	1	2		3		3		5
Current accident year reported losses $2 million - $5 million				5	9	8	7	2		9		16		24
Prior accident year reported losses on large losses				4	1	—	3	4		7		7		8
Non-Catastrophe reported losses on large losses total				10	11	8	11	8		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 First-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				$	451		$	394		$	372		$	428		$	443			$	871			$	1,244			$	1,638
Year over year change %- written premium				2		%	2		%	2		%	9		%	6		%		8		%		6		%		5		%
Earned premiums				$	405		$	409		$	403		$	402		$	387			$	789			$	1,192			$	1,601
Current accident year before catastrophe losses				77.0		%	86.9		%	74.8		%	72.3		%	72.8		%		72.6		%		73.3		%		76.8		%
Current accident year catastrophe losses				—			—			—			—			—				—				—				—
Prior accident years before catastrophe losses				(0.7)			(0.2)			6.0			(0.4)			(0.3)				(0.4)				1.8				1.3
Prior accident years catastrophe losses				—			—			—			—			—				—				—				—
Total loss and loss expense ratio				76.3		%	86.7		%	80.8		%	71.9		%	72.5		%		72.2		%		75.1		%		78.1		%
Commercial property:
Net written premiums				$	427		$	395		$	422		$	428		$	411			$	839			$	1,260			$	1,655
Year over year change %- written premium				4		%	3		%	8		%	9		%	14		%		11		%		10		%		8		%
Earned premiums				$	415		$	410		$	405		$	399		$	389			$	787			$	1,192			$	1,602
Current accident year before catastrophe losses				43.8		%	23.9		%	37.2		%	40.2		%	43.5		%		41.8		%		40.2		%		36.0		%
Current accident year catastrophe losses				28.7			1.6			8.6			21.5			13.3				17.5				14.5				11.2
Prior accident years before catastrophe losses				(7.0)			(3.6)			(8.2)			(9.5)			(5.3)				(7.4)				(7.7)				(6.7)
Prior accident years catastrophe losses				(0.3)			0.3			(1.2)			(0.6)			(3.6)				(2.1)				(1.8)				(1.2)
Total loss and loss expense ratio				65.2		%	22.2		%	36.4		%	51.6		%	47.9		%		49.8		%		45.2		%		39.3		%
Commercial auto:
Net written premiums				$	299		$	240		$	243		$	271		$	283			$	555			$	797			$	1,037
Year over year change %- written premium				6		%	8		%	9		%	9		%	9		%		10		%		9		%		9		%
Earned premiums				$	259		$	258		$	253		$	247		$	241			$	489			$	742			$	1,000
Current accident year before catastrophe losses				67.7		%	66.5		%	64.7		%	65.0		%	68.6		%		66.8		%		66.1		%		66.2		%
Current accident year catastrophe losses				0.5			0.1			0.8			0.8			1.8				1.3				1.1				0.8
Prior accident years before catastrophe losses				0.7			2.5			4.1			7.2			2.9				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				68.9		%	69.0		%	69.6		%	72.9		%	73.2		%		73.1		%		71.9		%		71.1		%
Workers' compensation:
Net written premiums				$	71		$	53		$	56		$	57		$	79			$	135			$	191			$	244
Year over year change %- written premium				(10)		%	(2)		%	—		%	4		%	—		%		1		%		1		%		—		%
Earned premiums				$	57		$	61		$	61		$	60		$	61			$	121			$	181			$	242
Current accident year before catastrophe losses				98.0		%	96.4		%	94.6		%	97.0		%	95.5		%		96.2		%		95.7		%		95.9		%
Current accident year catastrophe losses				—			—			—			—			—				—				—				—
Prior accident years before catastrophe losses				(15.7)			(32.3)			(28.3)			(27.8)			(18.6)				(23.1)				(24.9)				(26.8)
Prior accident years catastrophe losses				—			—			—			—			—				—				—				—
Total loss and loss expense ratio				82.3		%	64.1		%	66.3		%	69.2		%	76.9		%		73.1		%		70.8		%		69.1		%
Other commercial:
Net written premiums				$	111		$	103		$	105		$	106		$	109			$	215			$	321			$	424
Year over year change %- written premium				2		%	5		%	(1)		%	6		%	3		%		4		%		3		%		3		%
Earned premiums				$	105		$	105		$	107		$	104		$	101			$	205			$	313			$	418
Current accident year before catastrophe losses				51.9		%	53.6		%	51.1		%	50.5		%	45.8		%		48.2		%		49.2		%		50.3		%
Current accident year catastrophe losses				0.1			0.2			—			0.1			0.1				0.1				—				0.1
Prior accident years before catastrophe losses				(12.2)			0.5			2.9			(1.5)			(2.2)				(1.8)				(0.2)				—
Prior accident years catastrophe losses				0.1			—			—			0.1			—				—				—				—
Total loss and loss expense ratio				39.9		%	54.3		%	54.0		%	49.2		%	43.7		%		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 First-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				$	275		$	285		$	328		$	333		$	266			$	599			$	927			$	1,212
Year over year change %- written premium				3		%	6		%	11		%	18		%	23		%		20		%		17		%		14		%
Earned premiums				$	303		$	300		$	295		$	285		$	271			$	556			$	851			$	1,151
Current accident year before catastrophe losses				69.2		%	68.3		%	67.8		%	67.8		%	71.2		%		69.5		%		68.9		%		68.8		%
Current accident year catastrophe losses				1.1			0.1			1.1			3.2			3.0				3.1				2.4				1.8
Prior accident years before catastrophe losses				3.2			1.9			1.9			—			(0.8)				(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				73.5		%	70.3		%	70.8		%	71.0		%	73.1		%		72.0		%		71.6		%		71.3		%
Homeowner:
Net written premiums				$	406		$	446		$	518		$	532		$	320			$	852			$	1,370			$	1,816
Year over year change %- written premium				27		%	13		%	17		%	23		%	6		%		16		%		16		%		16		%
Earned premiums				$	469		$	459		$	444		$	425		$	338			$	763			$	1,208			$	1,667
Current accident year before catastrophe losses				41.1		%	38.1		%	37.6		%	38.8		%	53.4		%		45.2		%		42.4		%		41.2		%
Current accident year catastrophe losses				30.2			1.8			12.9			44.3			122.5				79.0				54.7				40.1
Prior accident years before catastrophe losses				(2.8)			0.5			0.9			(3.0)			(2.0)				(2.6)				(1.3)				(0.8)
Prior accident years catastrophe losses				(0.3)			(0.8)			(1.6)			(3.0)			(3.5)				(3.2)				(2.6)				(2.1)
Total loss and loss expense ratio				68.2		%	39.6		%	49.8		%	77.1		%	170.4		%		118.4		%		93.2		%		78.4		%
Other personal:
Net written premiums				$	94		$	96		$	105		$	115		$	86			$	201			$	306			$	402
Year over year change %- written premium				9		%	8		%	12		%	12		%	13		%		12		%		12		%		11		%
Earned premiums				$	101		$	100		$	99		$	94		$	89			$	183			$	281			$	381
Current accident year before catastrophe losses				62.0		%	55.5		%	58.8		%	58.3		%	76.2		%		67.0		%		64.2		%		61.9		%
Current accident year catastrophe losses				4.0			6.3			6.9			6.8			1.1				4.0				5.0				5.3
Prior accident years before catastrophe losses				(1.0)			14.3			12.5			7.4			3.7				5.6				8.0				9.7
Prior accident years catastrophe losses				(1.0)			—			(0.8)			(0.1)			(0.4)				(0.2)				(0.5)				(0.3)
Total loss and loss expense ratio				64.0		%	76.1		%	77.4		%	72.4		%	80.6		%		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				$	182		$	184		$	175		$	202		$	168			$	370			$	545			$	729
Year over year change %- written premium				8		%	8		%	11		%	12		%	15		%		13		%		13		%		11		%
Earned premiums				$	180		$	188		$	174		$	174		$	162			$	336			$	510			$	698
Current accident year before catastrophe losses				64.6		%	58.4		%	64.1		%	64.9		%	65.6		%		65.2		%		64.8		%		63.1		%
Current accident year catastrophe losses				1.1			(0.4)			0.2			1.6			0.8				1.2				0.9				0.5
Prior accident years before catastrophe losses				(4.1)			(0.3)			(2.1)			(2.7)			(5.0)				(3.8)				(3.2)				(2.5)
Prior accident years catastrophe losses				(0.4)			(0.2)			(0.1)			(0.3)			(0.5)				(0.3)				(0.3)				(0.2)
Total loss and loss expense ratio				61.2		%	57.5		%	62.1		%	63.5		%	60.9		%		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 First-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 March 31, 2026
Commercial casualty	$	220	$	55	$	275	$	(37)	$	52	$	19	$	34	$	183	$	52	$	74	$	309
Commercial property	155		17		172		5		95		5		105		160		95		22		277
Commercial auto	125		22		147		(1)		28		5		32		124		28		27		179
Workers' compensation	28		7		35		3		(1)		8		10		31		(1)		15		45
Other commercial	27		5		32		4		(2)		8		10		31		(2)		13		42
Total commercial lines	555		106		661		(26)		172		45		191		529		172		151		852

Personal auto	152		27		179		7		29		7		43		159		29		34		222
Homeowners	199		28		227		19		63		7		89		218		63		35		316
Other personal	32		3		35		16		18		—		34		48		18		3		69
Total personal lines	383		58		441		42		110		14		166		425		110		72		607

Excess & surplus lines	36		20		56		5		38		12		55		41		38		32		111
Other	79		5		84		3		16		3		22		82		16		8		106
Total property casualty	$	1,053	$	189	$	1,242	$	24	$	336	$	74	$	434	$	1,077	$	336	$	263	$	1,676

Ceded loss and loss expense incurred for the three months ended March 31, 2026
Commercial casualty	$	17	$	1	$	18	$	(14)	$	(1)	$	(4)	$	(19)	$	3	$	(1)	$	(3)	$	(1)
Commercial property	1		—		1		2		4		—		6		3		4		—		7
Commercial auto	—		—		—		—		—		—		—		—		—		—		—
Workers' compensation	2		—		2		(3)		(1)		—		(4)		(1)		(1)		—		(2)
Other commercial	2		—		2		—		(1)		—		(1)		2		(1)		—		1
Total commercial lines	22		1		23		(15)		1		(4)		(18)		7		1		(3)		5

Personal auto	1		—		1		(1)		—		—		(1)		—		—		—		—
Homeowners	13		1		14		(9)		(8)		—		(17)		4		(8)		1		(3)
Other personal	1		—		1		2		—		—		2		3		—		—		3
Total personal lines	15		1		16		(8)		(8)		—		(16)		7		(8)		1		—

Excess & surplus lines	—		—		—		—		1		—		1		—		1		—		1
Other	2		—		2		—		1		—		1		2		1		—		3
Total property casualty	$	39	$	2	$	41	$	(23)	$	(5)	$	(4)	$	(32)	$	16	$	(5)	$	(2)	$	9

Net loss and loss expense incurred for the three months ended March 31, 2026
Commercial casualty	$	203	$	54	$	257	$	(23)	$	53	$	23	$	53	$	180	$	53	$	77	$	310
Commercial property	154		17		171		3		91		5		99		157		91		22		270
Commercial auto	125		22		147		(1)		28		5		32		124		28		27		179
Workers' compensation	26		7		33		6		—		8		14		32		—		15		47
Other commercial	25		5		30		4		(1)		8		11		29		(1)		13		41
Total commercial lines	533		105		638		(11)		171		49		209		522		171		154		847

Personal auto	151		27		178		8		29		7		44		159		29		34		222
Homeowners	186		27		213		28		71		7		106		214		71		34		319
Other personal	31		3		34		14		18		—		32		45		18		3		66
Total personal lines	368		57		425		50		118		14		182		418		118		71		607

Excess & surplus lines	36		20		56		5		37		12		54		41		37		32		110
Other	77		5		82		3		15		3		21		80		15		8		103
Total property casualty	$	1,014	$	187	$	1,201	$	47	$	341	$	78	$	466	$	1,061	$	341	$	265	$	1,667

*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 First-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				$	2,045		$	1,939		$	2,037		$	2,135		$	1,912			$	4,047			$	6,084			$	8,023
Agency new business written premiums				339			331			356			404			383				787				1,143				1,474

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

Other written premiums				42			(11)			9			(7)			(9)				(8)				(5)				(6)
Net written premiums				7			5			9			11			11				11				10				9
Paid losses and loss expenses
Losses paid				$	1,014		$	942		$	1,039		$	1,049		$	1,203			$	2,253			$	3,292			$	4,234
Loss expenses paid				187			187			178			197			196				392				570				757
Loss and loss expenses paid				$	1,201		$	1,129		$	1,217		$	1,246		$	1,399			$	2,645			$	3,862			$	4,991
Incurred losses and loss expenses
Loss and loss expense incurred				$	1,667		$	1,397		$	1,464		$	1,587		$	1,887			$	3,474			$	4,938			$	6,335
Loss and loss expenses paid as a % of incurred				72.0		%	80.8		%	83.1		%	78.5		%	74.1		%		76.1		%		78.2		%		78.8		%
Statutory combined ratio
Loss ratio				56.3		%	43.7		%	49.5		%	55.4		%	72.4		%		63.6		%		58.7		%		54.9		%
Loss adjustment expense ratio				10.8			12.4			10.9			11.6			11.7				11.7				11.4				11.6
Net underwriting expense ratio				28.5			30.2			28.3			26.4			28.2				27.3				27.6				28.2
US Statutory combined ratio				95.6		%	86.3		%	88.7		%	93.4		%	112.3		%		102.6		%		97.7		%		94.7		%
Contribution from catastrophe losses				11.0			0.7			4.0			11.9			25.2				18.4				13.4				10.1
Statutory combined ratio excl. catastrophe losses				84.6		%	85.6		%	84.7		%	81.5		%	87.1		%		84.2		%		84.3		%		84.6		%
GAAP combined ratio
GAAP combined ratio				95.6		%	85.2		%	88.2		%	94.9		%	113.3		%		103.8		%		98.4		%		94.9		%
Contribution from catastrophe losses				10.8			1.0			3.7			12.2			25.0				18.4				13.3				10.1
GAAP combined ratio excl. catastrophe losses				84.8		%	84.2		%	84.5		%	82.7		%	88.3		%		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 First-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				$	1,184		$	1,039		$	1,043		$	1,116		$	1,152			$	2,268			$	3,311			$	4,350
Agency new business written premiums				205			180			185			200			203				403				588				768
Other written premiums				(30)			(34)			(30)			(26)			(30)				(56)				(86)				(120)
Net written premiums				$	1,359		$	1,185		$	1,198		$	1,290		$	1,325			$	2,615			$	3,813			$	4,998
Unearned premium change				(118)			58			31			(78)			(146)				(224)				(193)				(135)
Earned premiums				$	1,241		$	1,243		$	1,229		$	1,212		$	1,179			$	2,391			$	3,620			$	4,863
Year over year change %
Agency renewal written premiums				3		%	4		%	6		%	9		%	7		%		8		%		7		%		6		%
Agency new business written premiums				1			1			(1)			4			12				7				5				4
Other written premiums				—			8			17			13			14				14				15				13
Net written premiums				3			4			5			9			8				9				7				7
Paid losses and loss expenses
Losses paid				$	533		$	481		$	497		$	493		$	403			$	897			$	1,393			$	1,876
Loss expenses paid				105			104			102			110			109				218				321				426
Loss and loss expenses paid				$	638		$	585		$	599		$	603		$	512			$	1,115			$	1,714			$	2,302
Incurred losses and loss expenses
Loss and loss expense incurred				$	847		$	721		$	747		$	767		$	735			$	1,502			$	2,249			$	2,970
Loss and loss expenses paid as a % of incurred				75.3		%	81.1		%	80.2		%	78.6		%	69.7		%		74.2		%		76.2		%		77.5		%
Statutory combined ratio
Loss ratio				55.8		%	43.4		%	49.5		%	50.7		%	49.7		%		50.2		%		50.0		%		48.2		%
Loss adjustment expense ratio				12.5			14.5			11.3			12.7			12.6				12.6				12.2				12.8
Net underwriting expense ratio				27.7			31.4			30.9			28.3			26.9				27.6				28.6				29.3
Statutory combined ratio				96.0		%	89.3		%	91.7		%	91.7		%	89.2		%		90.4		%		90.8		%		90.3		%
Contribution from catastrophe losses				9.6			0.6			2.6			7.0			3.6				5.4				4.4				3.5
Statutory combined ratio excl. catastrophe losses				86.4		%	88.7		%	89.1		%	84.7		%	85.6		%		85.0		%		86.4		%		86.8		%
GAAP combined ratio
GAAP combined ratio				98.6		%	88.4		%	91.1		%	92.9		%	91.9		%		92.4		%		92.0		%		91.1		%
Contribution from catastrophe losses				9.6			0.6			2.6			7.0			3.6				5.4				4.4				3.5
GAAP combined ratio excl. catastrophe losses				89.0		%	87.8		%	88.5		%	85.9		%	88.3		%		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 First-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				$	726		$	764		$	864		$	866		$	634			$	1,500			$	2,364			$	3,128
Agency new business written premiums				76			92			116			141			127				268				384				476
Other written premiums				(27)			(29)			(29)			(27)			(89)				(116)				(145)				(174)
Net written premiums				$	775		$	827		$	951		$	980		$	672			$	1,652			$	2,603			$	3,430
Unearned premium change				98			32			(113)			(176)			26				(150)				(263)				(231)
Earned premiums				$	873		$	859		$	838		$	804		$	698			$	1,502			$	2,340			$	3,199
Year over year change %
Agency renewal written premiums				15		%	22		%	24		%	27		%	28		%		28		%		26		%		25		%
Agency new business written premiums				(40)			(40)			(30)			(13)			4				(6)				(15)				(21)
Other written premiums				70			(12)			(4)			(8)			(324)				(152)				(96)				(74)
Net written premiums				15			10			14			20			13				17				16				14
Paid losses and loss expenses
Losses paid				$	368		$	346		$	424		$	446		$	609			$	1,055			$	1,479			$	1,824
Loss expenses paid				57			58			52			63			64				127				179				237
Loss and loss expenses paid				$	425		$	404		$	476		$	509		$	673			$	1,182			$	1,658			$	2,061
Incurred losses and loss expenses
Loss and loss expense incurred				$	607		$	468		$	507		$	598		$	846			$	1,444			$	1,951			$	2,419
Loss and loss expenses paid as a % of incurred				70.0		%	86.3		%	93.9		%	85.1		%	79.6		%		81.9		%		85.0		%		85.2		%
Statutory combined ratio
Loss ratio				61.3		%	45.1		%	50.9		%	64.8		%	110.1		%		85.9		%		73.4		%		65.8		%
Loss adjustment expense ratio				8.2			9.5			9.5			9.6			11.0				10.3				10.0				9.9
Net underwriting expense ratio				30.2			28.2			25.9			24.7			31.2				27.3				26.8				27.1
Statutory combined ratio				99.7		%	82.8		%	86.3		%	99.1		%	152.3		%		123.5		%		110.2		%		102.8		%
Contribution from catastrophe losses				16.8			1.3			7.1			23.8			58.7				40.0				28.3				21.0
Statutory combined ratio excl. catastrophe losses				82.9		%	81.5		%	79.2		%	75.3		%	93.6		%		83.5		%		81.9		%		81.8		%
GAAP combined ratio
GAAP combined ratio				96.8		%	81.5		%	88.2		%	102.0		%	151.3		%		124.9		%		111.8		%		103.6		%
Contribution from catastrophe losses				16.8			1.3			7.1			23.8			58.7				40.0				28.3				21.0
GAAP combined ratio excl. catastrophe losses				80.0		%	80.2		%	81.1		%	78.2		%	92.6		%		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 First-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				$	135		$	136		$	130		$	153		$	126			$	279			$	409			$	545
Agency new business written premiums				58			59			55			63			53				116				171				230
Other written premiums				(11)			(11)			(10)			(14)			(11)				(25)				(35)				(46)
Net written premiums				$	182		$	184		$	175		$	202		$	168			$	370			$	545			$	729
Unearned premium change				(2)			4			(1)			(28)			(6)				(34)				(35)				(31)
Earned premiums				$	180		$	188		$	174		$	174		$	162			$	336			$	510			$	698
Year over year change %
Agency renewal written premiums				7		%	2		%	15		%	10		%	12		%		11		%		12		%		9		%
Agency new business written premiums				9			20			2			24			26				25				16				17
Other written premiums				—			—			—			(40)			(22)				(32)				(21)				(15)
Net written premiums				8			8			11			12			15				13				13				11
Paid losses and loss expenses
Losses paid				$	36		$	43		$	42		$	38		$	40			$	78			$	121			$	163
Loss expenses paid				20			19			19			17			18				35				53				72
Loss and loss expenses paid				$	56		$	62		$	61		$	55		$	58			$	113			$	174			$	235
Incurred losses and loss expenses
Loss and loss expense incurred				$	110		$	108		$	108		$	110		$	99			$	209			$	317			$	425
Loss and loss expenses paid as a % of incurred				50.9		%	57.4		%	56.5		%	50.0		%	58.6		%		54.1		%		54.9		%		55.3		%
Statutory combined ratio
Loss ratio				43.6		%	39.1		%	42.8		%	43.8		%	43.1		%		43.4		%		43.2		%		42.1		%
Loss adjustment expense ratio				17.6			18.4			19.2			19.7			17.8				18.8				19.0				18.8
Net underwriting expense ratio				28.6			27.3			26.6			25.3			25.5				25.4				25.8				26.2
Statutory combined ratio				89.8		%	84.8		%	88.6		%	88.8		%	86.4		%		87.6		%		88.0		%		87.1		%
Contribution from catastrophe losses				0.7			(0.6)			0.1			1.3			0.3				0.9				0.6				0.3
Statutory combined ratio excl. catastrophe losses				89.1		%	85.4		%	88.5		%	87.5		%	86.1		%		86.7		%		87.4		%		86.8		%
GAAP combined ratio
GAAP combined ratio				89.3		%	84.7		%	89.8		%	91.1		%	88.3		%		89.8		%		89.8		%		88.4		%
Contribution from catastrophe losses				0.7			(0.6)			0.1			1.3			0.3				0.9				0.6				0.3
GAAP combined ratio excl. catastrophe losses				88.6		%	85.3		%	89.7		%	89.8		%	88.0		%		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 First-Quarter 2026 Supplemental Financial Data


Consolidated Cincinnati Insurance Companies
Statutory Statements of Income

	For the Three Months Ended March 31,
(Dollars in millions)		2026		2025		Change		% Change
Underwriting income
Net premiums written		$	2,570	$	2,420	$	150	6
Unearned premium change		124		220		(96)		(44)
Earned premiums		$	2,446	$	2,200	$	246	11

Losses incurred		$	1,379	$	1,592	$	(213)	(13)
Defense and cost containment expenses incurred		133		126		7		6
Adjusting and other expenses incurred		131		132		(1)		(1)
Other underwriting expenses incurred		731		681		50		7
Workers compensation dividend incurred		1		1		—		—
Total underwriting deductions		$	2,375	$	2,532	$	(157)	(6)

Net underwriting profit (loss)		$	71	$	(332)	$	403	nm

Investment income
Gross investment income earned		$	212	$	184	$	28	15
Net investment income earned		209		181		28		15
Net realized capital gains and losses, net		167		—		167		nm
Net investment gains (net of tax)		$	376	$	181	$	195	108

Other income		$	2	$	2	$	—	—

Net income (loss) before federal income taxes		$	449	$	(149)	$	598	nm
Federal and foreign income taxes incurred		28		(62)		90		nm
Net income (loss) (statutory)		$	421	$	(87)	$	508	nm

Policyholders' surplus - statutory		$	9,860	$	8,553	$	1,307	15

Fixed maturities at amortized cost - statutory		$	14,359	$	12,508	$	1,851	15
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 First-Quarter 2026 Supplemental Financial Data


The Cincinnati Life Insurance Company
Statutory Statements of Income

	For the Three Months Ended March 31,
(Dollars in millions)		2026		2025		Change		% Change
Net premiums written		$	87	$	79	$	8	10
Net investment income		54		50		4		8

Commissions and expense allowances on reinsurance ceded		1		1		—		—
Income from fees associated with separate accounts		1		1		—		—
Total revenues		$	143	$	131	$	12	9

Death benefits and matured endowments		$	49	$	56	$	(7)	(13)
Annuity benefits		20		23		(3)		(13)

Surrender benefits and group conversions		12		10		2		20
Interest and adjustments on deposit-type contract funds		1		2		(1)		(50)
Increase in aggregate reserves for life and accident and health contracts		(2)		(9)		7		78
Total benefit expenses		$	80	$	82	$	(2)	(2)

Commissions		$	13	$	12	$	1	8
General insurance expenses and taxes		15		15		—		—
Increase in loading on deferred and uncollected premiums		1		3		(2)		(67)
Net transfers from separate accounts		(1)		(8)		7		88

Total underwriting expenses		$	28	$	22	$	6	27

Federal and foreign income taxes incurred		7		6		1		17

Net gain from operations before capital gains and losses		$	28	$	21	$	7	33

Gains and losses net of capital gains tax, net		(1)		(1)		—		—

Net income (statutory)		$	27	$	20	$	7	35

Policyholders' surplus - statutory		$	621	$	527	$	94	18

Fixed maturities at amortized cost - statutory		$	3,933	$	3,828	$	105	3
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 First-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				$	254		$	86		$	87		$	164		$	255			$	418			$	505			$	591
Year over year change %- written premium				—		%	(13)		%	(2)		%	(21)		%	26		%		2		%		1		%		(1)		%
Earned premiums				$	152		$	138		$	141		$	142		$	161			$	303			$	444			$	582
Current accident year before catastrophe losses				46.7		%	52.7		%	52.9		%	56.2		%	46.6		%		51.1		%		51.7		%		51.9		%
Current accident year catastrophe losses				8.1			(0.8)			3.6			(0.6)			66.3				34.9				25.0				18.9
Prior accident years before catastrophe losses				3.2			(5.3)			(0.9)			5.7			(4.5)				0.3				(0.1)				(1.3)
Prior accident years catastrophe losses				(6.5)			0.4			(2.1)			(1.2)			(2.4)				(1.8)				(1.9)				(1.4)
Total loss and loss expense ratio				51.5		%	47.0		%	53.5		%	60.1		%	106.0		%		84.5		%		74.7		%		68.1		%

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

Noninsurance operations:
Interest and fees on loans and leases				$	3		$	3		$	3		$	2		$	3			$	5			$	8			$	11
Other revenue				3			3			3			3			1				4				7				10
Interest expense				13			13			13			14			13				27				40				53
Operating expenses				9			7			6			10			11				21				27				34
Total noninsurance operations loss				$	(16)		$	(14)		$	(13)		$	(19)		$	(20)			$	(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 First-Quarter 2026 Supplemental Financial Data

Source: View Original Filing on SEC EDGAR

FAQ

How did Cincinnati Financial (CINF) perform financially in Q1 2026?

Cincinnati Financial reported Q1 2026 net income of $274 million, or $1.75 per diluted share, versus a net loss of $90 million a year earlier. Non-GAAP operating income was $330 million, or $2.10 per share, showing a strong earnings rebound.

What happened to Cincinnati Financial’s revenues in the first quarter of 2026?

Total revenues for Cincinnati Financial in Q1 2026 were $2.863 billion, up 12% from Q1 2025. Earned premiums grew 11% to $2.604 billion, and investment income increased 14% to $318 million, supporting the overall revenue rise.

How did Cincinnati Financial’s underwriting results change in Q1 2026?

Cincinnati Financial’s consolidated property casualty combined ratio improved to 95.6% in Q1 2026 from 113.3% a year earlier. The current accident year combined ratio before catastrophe losses improved to 87.5%, reflecting lower catastrophe losses and better underlying loss experience.

What were Cincinnati Financial’s key insurance segment results in Q1 2026?

In Q1 2026, personal lines achieved a combined ratio of 96.8% versus 151.3% a year earlier, commercial lines reported a 98.6% combined ratio, and excess and surplus lines posted a combined ratio of 89.3%. Net written premiums grew across property casualty operations.

How did investments affect Cincinnati Financial in Q1 2026?

Pretax investment income rose 14% to $318 million, but total pretax investment losses were $290 million, including equity and fixed-maturity valuation changes. These losses contributed to a modest $0.75 decline in book value per share despite strong operating earnings.

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Cincinnati Financial (CINF) swings to Q1 2026 profit with better underwriting

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FAQ

How did Cincinnati Financial (CINF) perform financially in Q1 2026?

What happened to Cincinnati Financial’s revenues in the first quarter of 2026?

How did Cincinnati Financial’s underwriting results change in Q1 2026?

What were Cincinnati Financial’s key insurance segment results in Q1 2026?

How did investments affect Cincinnati Financial in Q1 2026?

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Cincinnati Financial (CINF) swings to Q1 2026 profit with better underwriting

Rhea-AI Filing Summary

Positive

Negative

Insights

Equity analyst positive

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Cincinnati Financial (CINF) perform financially in Q1 2026?

What happened to Cincinnati Financial’s revenues in the first quarter of 2026?

How did Cincinnati Financial’s underwriting results change in Q1 2026?

What were Cincinnati Financial’s key insurance segment results in Q1 2026?

How did investments affect Cincinnati Financial in Q1 2026?

What was Cincinnati Financial’s book value per share and value creation ratio?

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