EX-99.23exhibit9921q26.htmEX-99.2 Document
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
a
A
A3
BBB+
The Cincinnati Insurance Companies
Insurer Financial Strength
Property Casualty Group
Standard Market Subsidiaries:
A+
AA-
A1
A+
The Cincinnati Insurance Company
A+
AA-
A1
A+
The Cincinnati Indemnity Company
A+
AA-
A1
A+
The Cincinnati Casualty Company
A+
AA-
A1
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
1
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
2
Definitions of Non-GAAP Information and
Reconciliation to Comparable GAAP Measures
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.
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.
•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
3
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
4
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
5
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
6
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
7
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
8
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
9
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
10
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
11
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
12
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
13
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
14
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
15
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
16
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
17
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | 0 | 0 |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 0 | — | 0 |
| Recession recession, downturn, contraction, slowdown | 0 | 0 | 0 |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | 0 | 0 |
| Buybacks share repurchase, buyback program | 0 | — | 0 |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Not placed in the text
These quotes are stored with a score, but no passage here matches them closely enough to highlight. Rather than point at the wrong passage, they are listed as stored.
Theme · Catastrophe loss volatility
“Contribution from catastrophe losses: 10.8% for Q1 2026 vs 25.0% for Q1 2025.”
Theme · Premium growth
“Net written premiums: $2,668 million for Q1 2026, up 7% from $2,495 million.”
Theme · Underwriting profitability
“Net underwriting profit (loss): $71 million for Q1 2026 vs ($332) million for Q1 2025.”
Theme · Investment performance
“Investment income, net of expenses: $318 million for Q1 2026.”
Theme · Reserve development
“Large loss prior accident year reserve development: $50 million for Q1 2026.”
Source: SEC EDGAR · public domain · Highlights by Palanor