EX-99.2 3 exhibit9921q20.htm EXHIBIT 99.2 Exhibit


Cincinnati Financial Corporation
Supplemental Financial Data
for the period ending March 31, 2020

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+
A1
A+
             The Cincinnati Insurance Company
A+
A+
A1
A+
             The Cincinnati Indemnity Company
A+
A+
A1
A+
             The Cincinnati Casualty Company
A+
A+
A1
A+
      Surplus Lines Subsidiary:
 
 
 
 
             The Cincinnati Specialty Underwriters Insurance Company
A+
 
 
 
 
 
The Cincinnati Life Insurance Company
A+
A+
A+

Ratings are as of April 24, 2020, under continuous review and subject to change and/or affirmation. For the current ratings, select Financial Strength 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 2020 Supplemental Financial Data
1



 
Cincinnati Financial Corporation
 
Supplemental Financial Data
 
for the period ending March 31, 2020
 
 
 
 
 
Page
 
Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures
 
 
 
Consolidated
 
 
CFC and Subsidiaries Consolidation – Three Months Ended March 31, 2020
 
 
 
 
 
 
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, 2020
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 2020 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 2020 Supplemental Financial Data
3




Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended March 31, 2020
 
 
 
 
 
 
 
(Dollars in millions)
CFC
CONSOL P&C
CLIC
CFC-I
ELIM
Total
Revenues
 
 
 
 
 
 
  Premiums earned:
 
 
 
 
 
 
    Property casualty
$

$
1,437

$

$

$

$
1,437

    Life


85



85

    Premiums ceded

(48
)
(18
)


(66
)
      Total earned premium

1,389

67



1,456

  Investment income, net of expenses
19

107

39



165

  Investment gains and losses, net
(621
)
(1,072
)
(32
)


(1,725
)
  Fee revenues

3




3

  Other revenues
4

1


1

(4
)
2

Total revenues
$
(598
)
$
428

$
74

$
1

$
(4
)
$
(99
)
 
 
 
 
 
 
 
Benefits & expenses
 
 
 
 
 
 
  Losses & contract holders' benefits
$

$
934

$
85

$



$
1,019

  Reinsurance recoveries

(4
)
(12
)


(16
)
  Underwriting, acquisition and insurance expenses

438

18



456

  Interest expense
13





13

  Other operating expenses
8



1

(4
)
5

Total expenses
$
21

$
1,368

$
91

$
1

$
(4
)
$
1,477

 
 
 
 
 
 
 
Income (loss) before income taxes
$
(619
)
$
(940
)
$
(17
)
$

$

$
(1,576
)
 
 
 
 
 
 
 
Provision (benefit) for income taxes
 
 
 
 
 
 
  Current operating income
$
129

$
228

$
8

$

$

$
365

  Capital gains/losses
(130
)
(225
)
(7
)


(362
)
  Deferred
(130
)
(218
)
(5
)


(353
)
Total benefit for income taxes
$
(131
)
$
(215
)
$
(4
)
$

$

$
(350
)
 
 
 
 
 
 
 
Net income (loss) - current year
$
(488
)
$
(725
)
$
(13
)
$

$

$
(1,226
)
 
 
 
 
 
 
 
Net income - prior year
$
211

$
473

$
10

$
1

$

$
695

*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, which was acquired on February 28, 2019.


CINF First-Quarter 2020 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
 
12/31/20
9/30/20
6/30/20
3/31/20
12/31/19
9/30/19
6/30/19
3/31/19
6/30/20
6/30/19
9/30/20
9/30/19
12/31/20
12/31/19
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



$

$
14

$
(1
)
$
14

$


$
14


$
13


$
27

Current accident year losses $1 million - $5 million



50

77

76

53

37


90


166


243

Large loss prior accident year reserve development



26

(4
)
33

5

16


21


54


50

   Total large losses incurred



$
76

$
87

$
108

$
72

$
53


$
125


$
233


$
320

Losses incurred but not reported



79

41

(24
)
(14
)
47


33


9


50

Other losses excluding catastrophe losses



496

512

566

547

493


1,039


1,606


2,118

Catastrophe losses



123

42

70

128

69


198


268


309

   Total losses incurred



$
774

$
682

$
720

$
733

$
662


$
1,395


$
2,116


$
2,797

Commercial Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



$

$
14

$
(1
)
$
14

$


$
14


$
13


$
27

Current accident year losses $1 million - $5 million



36

62

56

41

26


68


124


185

Large loss prior accident year reserve development



22

1

32

3

13


16


48


49

   Total large losses incurred



$
58

$
77

$
87

$
58

$
39


$
98


$
185


$
261

Losses incurred but not reported



58

12

(22
)
(7
)
43


36


14


26

Other losses excluding catastrophe losses



298

302

314

320

286


605


919


1,222

Catastrophe losses



82

(9
)
32

94

25


119


151


142

   Total losses incurred



$
496

$
382

$
411

$
465

$
393


$
858


$
1,269


$
1,651

Personal Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



$

$

$

$

$


$


$


$

Current accident year losses $1 million - $5 million



12

11

20

10

10


19


39


51

Large loss prior accident year reserve development



5

(3
)
(1
)
1

2


3


2


(1
)
   Total large losses incurred



$
17

$
8

$
19

$
11

$
12


$
22


$
41


$
50

Losses incurred but not reported



24

17


(4
)
4




(1
)

17

Other losses excluding catastrophe losses



127

160

172

167

163


330


504


662

Catastrophe losses



38

33

23

34

45


79


101


135

   Total losses incurred



$
206

$
218

$
214

$
208

$
224


$
431


$
645


$
864

Excess & Surplus Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



$

$

$

$

$


$


$


$

Current accident year losses $1 million - $5 million



2

4


2

1


3


3


7

Large loss prior accident year reserve development



(1
)
(2
)
2

1

1


2


4


2

   Total large losses incurred



$
1

$
2

$
2

$
3

$
2


$
5


$
7


$
9

Losses incurred but not reported



(3
)
12

(2
)
(3
)


(3
)

(4
)

7

Other losses excluding catastrophe losses



29

14

25

18

19


36


61


76

Catastrophe losses



1

1

1




1


1


2

   Total losses incurred



$
28

$
29

$
26

$
18

$
21


$
39


$
65


$
94

*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, which was acquired on February 28, 2019.

CINF First-Quarter 2020 Supplemental Financial Data
5



Consolidated Property Casualty
Loss Ratio Detail
 
Three months ended
Six months ended
Nine months ended
Twelve months ended
 
12/31/20
9/30/20
6/30/20
3/31/20
12/31/19
9/30/19
6/30/19
3/31/19
6/30/20
6/30/19
9/30/20
9/30/19
12/31/20
12/31/19
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



 %
1.1
 %
(0.1
)%
1.1
 %
%

0.5
 %

0.3
 %
 
0.5
 %
Current accident year losses $1 million - $5 million



3.6

5.6

5.5

4.0

2.9


3.5


4.2

 
4.6

Large loss prior accident year reserve development



1.9

(0.4
)
2.4

0.4

1.2


0.8


1.4

 
0.9

   Total large loss ratio



5.5
 %
6.3
 %
7.8
 %
5.5
 %
4.1
%

4.8
 %

5.9
 %
 
6.0
 %
Losses incurred but not reported



5.7

3.0

(1.8
)
(1.1
)
3.7


1.3


0.2

 
0.9

Other losses excluding catastrophe losses



35.6

37.3

41.2

41.6

38.9


40.2


40.5

 
39.7

Catastrophe losses



8.9

3.0

5.1

9.7

5.5


7.7


6.8

 
5.8

   Total loss ratio



55.7
 %
49.6
 %
52.3
 %
55.7
 %
52.2
%

54.0
 %

53.4
 %
 
52.4
 %
Commercial Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



 %
1.7
 %
(0.1
)%
1.7
 %
%

0.9
 %

0.5
 %
 
0.8
 %
Current accident year losses $1 million - $5 million



4.1

7.0

6.8

5.0

3.3


4.1


5.1

 
5.6

Large loss prior accident year reserve development



2.6

0.2

3.8

0.4

1.6


1.0


1.9

 
1.5

   Total large loss ratio



6.7
 %
8.9
 %
10.5
 %
7.1
 %
4.9
%

6.0
 %

7.5
 %
 
7.9
 %
Losses incurred but not reported



6.8

1.5

(2.6
)
(0.9
)
5.4


2.2


0.6

 
0.8

Other losses excluding catastrophe losses



34.5

35.4

37.6

38.9

35.1


37.0


37.2

 
36.7

Catastrophe losses



9.5

(1.0
)
3.8

11.4

3.1


7.3


6.1

 
4.3

   Total loss ratio



57.5
 %
44.8
 %
49.3
 %
56.5
 %
48.5
%

52.5
 %

51.4
 %
 
49.7
 %
Personal Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



 %
 %
 %
 %
%

 %

 %
 
 %
Current accident year losses $1 million - $5 million



3.5

3.5

5.4

2.8

2.8


2.8


3.7

 
3.6

Large loss prior accident year reserve development



1.3

(1.0
)
(0.2
)
0.3

0.6


0.4


0.2

 
(0.1
)
   Total large loss ratio



4.8
 %
2.5
 %
5.2
 %
3.1
 %
3.4
%

3.2
 %

3.9
 %
 
3.5
 %
Losses incurred but not reported



6.6

5.1

(0.1
)
(1.1
)
1.0


(0.1
)

(0.1
)
 
1.2

Other losses excluding catastrophe losses



35.3

44.2

48.9

48.0

47.4


47.8


48.1

 
47.2

Catastrophe losses



10.5

9.4

6.4

9.7

13.1


11.4


9.7

 
9.6

   Total loss ratio



57.2
 %
61.2
 %
60.4
 %
59.7
 %
64.9
%

62.3
 %

61.6
 %
 
61.5
 %
Excess & Surplus Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year losses greater than $5 million



 %
 %
 %
 %
%

 %

 %
 
 %
Current accident year losses $1 million - $5 million



2.6

5.4


3.0

1.6


2.4


1.5

 
2.5

Large loss prior accident year reserve development



(1.5
)
(2.7
)
2.7

1.5

1.2


1.3


1.8

 
0.6

   Total large loss ratio



1.1
 %
2.7
 %
2.7
 %
4.5
 %
2.8
%

3.7
 %

3.3
 %
 
3.1
 %
Losses incurred but not reported



(4.4
)
14.4

(2.6
)
(4.5
)
0.8


(1.9
)

(2.2
)
 
2.4

Other losses excluding catastrophe losses



37.8

20.5

34.5

26.7

29.1


27.9


30.3

 
27.7

Catastrophe losses



0.9

0.4

1.0

0.5

0.2


0.3


0.6

 
0.5

   Total loss ratio



35.4
 %
38.0
 %
35.6
 %
27.2
 %
32.9
%

30.0
 %

32.0
 %
 
33.7
 %
*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, which was acquired on February 28, 2019.


CINF First-Quarter 2020 Supplemental Financial Data
6



Consolidated Property Casualty
Loss Claim Count Detail
 
Three months ended
Six months ended
Nine months ended
Twelve months ended
 
12/31/20
9/30/20
6/30/20
3/31/20
12/31/19
9/30/19
6/30/19
3/31/19
6/30/20
6/30/19
9/30/20
9/30/19
12/31/20
12/31/19
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year reported losses greater
   than $5 million




2

1

2



2


2

 
4

Current accident year reported losses
   $1 million - $5 million



27

39

35

31

19


50


88

 
137

Prior accident year reported losses on
   large losses



20

9

18

13

10


24


44

 
55

   Non-Catastrophe reported losses on
      large losses total



47

50

54

46

29


76


134

 
196

Commercial Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year reported losses greater
   than $5 million




2

1

2



2


2

 
4

Current accident year reported losses
   $1 million - $5 million



17

27

27

23

12


35


64

 
100

Prior accident year reported losses on
   large losses



17

8

18

10

7


19


38

 
49

   Non-Catastrophe reported losses on
      large losses total



34

37

46

35

19


56


104

 
153

Personal Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year reported losses greater
   than $5 million












 

Current accident year reported losses
   $1 million - $5 million



8

8

8

6

6


12


21

 
30

Prior accident year reported losses on
   large losses



3

1


1

2


3


3

 
4

   Non-Catastrophe reported losses on
      large losses total



11

9

8

7

8


15


24

 
34

Excess & Surplus Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current accident year reported losses greater
   than $5 million












 

Current accident year reported losses
   $1 million - $5 million



2

4


2

1


3


3

 
7

Prior accident year reported losses on
   large losses






2

1


2


3

 
2

   Non-Catastrophe reported losses on
      large losses total



2

4


4

2


5


6

 
9

*The sum of quarterly amounts may not equal the full year as each is computed independently.
 
 
 
 
 
 
 
 
 


CINF First-Quarter 2020 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
 
12/31/20
9/30/20
6/30/20
3/31/20
12/31/19
9/30/19
6/30/19
3/31/19
6/30/20
6/30/19
9/30/20
9/30/19
12/31/20
12/31/19
Commercial casualty:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Written premiums



$
341

$
269

$
263

$
296

$
303


$
599


$
862


$
1,131

Year over year change %- written premium



13
 %
7
 %
5
 %
2
 %
6
 %

4
 %

4
 %

5
 %
Earned premiums



$
289

$
280

$
277

$
277

$
268


$
545


$
822


$
1,102

Current accident year before catastrophe losses



65.8
 %
67.5
 %
66.1
 %
67.4
 %
66.7
 %

67.0
 %

66.7
 %

66.9
 %
Current accident year catastrophe losses














Prior accident years before catastrophe losses



(1.6
)
(4.8
)
(2.9
)
(9.3
)
(11.5
)

(10.3
)

(7.8
)

(7.1
)
Prior accident years catastrophe losses














   Total loss and loss expense ratio



64.2
 %
62.7
 %
63.2
 %
58.1
 %
55.2
 %

56.7
 %

58.9
 %

59.8
 %
Commercial property:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Written premiums



$
261

$
246

$
245

$
247

$
247


$
494


$
739


$
985

Year over year change %- written premium



6
 %
10
 %
6
 %
3
 %
4
 %

3
 %

4
 %

6
 %
Earned premiums



$
249

$
249

$
241

$
234

$
234


$
468


$
709


$
958

Current accident year before catastrophe losses



47.8
 %
50.3
 %
49.4
 %
49.0
 %
51.5
 %

50.3
 %

50.0
 %

50.1
 %
Current accident year catastrophe losses



34.2

0.2

15.0

43.5

13.8


28.6


24.0


17.8

Prior accident years before catastrophe losses



0.7

(1.3
)
(1.1
)
0.8

1.9


1.3


0.5


0.1

Prior accident years catastrophe losses



(1.1
)
(2.6
)
(1.9
)
(3.6
)
(2.6
)

(3.0
)

(2.7
)

(2.7
)
   Total loss and loss expense ratio



81.6
 %
46.6
 %
61.4
 %
89.7
 %
64.6
 %

77.2
 %

71.8
 %

65.3
 %
Commercial auto:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Written premiums



$
208

$
175

$
176

$
196

$
188


$
384


$
560


$
735

Year over year change %- written premium



11
 %
7
 %
10
 %
8
 %
6
 %

7
 %

8
 %

8
 %
Earned premiums



$
185

$
183

$
179

$
175

$
170


$
345


$
524


$
707

Current accident year before catastrophe losses



70.9
 %
68.1
 %
67.8
 %
70.5
 %
74.5
 %

72.5
 %

70.9
 %

70.2
 %
Current accident year catastrophe losses



1.2

(0.3
)
1.5

1.4

0.3


0.9


1.1


0.7

Prior accident years before catastrophe losses



3.3

0.7

1.7

1.0

(6.7
)

(2.9
)

(1.3
)

(0.8
)
Prior accident years catastrophe losses



(0.2
)

(0.1
)





(0.1
)


   Total loss and loss expense ratio



75.2
 %
68.5
 %
70.9
 %
72.9
 %
68.1
 %

70.5
 %

70.6
 %

70.1
 %
Workers' compensation:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Written premiums



$
92

$
63

$
62

$
75

$
94


$
169


$
231


$
294

Year over year change %- written premium



(2
)%
(6
)%
(6
)%
(10
)%
(1
)%

(5
)%

(5
)%

(5
)%
Earned premiums



$
75

$
76

$
73

$
74

$
77


$
151


$
224


$
300

Current accident year before catastrophe losses



81.1
 %
85.4
 %
81.1
 %
78.0
 %
78.8
 %

78.4
 %

79.3
 %

80.8
 %
Current accident year catastrophe losses














Prior accident years before catastrophe losses



(9.8
)
(20.1
)
(27.0
)
(35.9
)
(20.1
)

(27.9
)

(27.7
)

(25.7
)
Prior accident years catastrophe losses














   Total loss and loss expense ratio



71.3
 %
65.3
 %
54.1
 %
42.1
 %
58.7
 %

50.5
 %

51.6
 %

55.1
 %
Other commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Written premiums



$
70

$
66

$
70

$
65

$
64


$
129


$
199


$
265

Year over year change %- written premium



9
 %
16
 %
8
 %
10
 %
10
 %

10
 %

9
 %

10
 %
Earned premiums



$
65

$
64

$
64

$
63

$
61


$
124


$
188


$
252

Current accident year before catastrophe losses



39.1
 %
38.2
 %
34.3
 %
33.7
 %
38.0
 %

35.8
 %

35.4
 %

36.0
 %
Current accident year catastrophe losses



0.1

0.1

(0.2
)
0.3

0.4


0.3


0.1


0.1

Prior accident years before catastrophe losses



1.7

(3.3
)
(2.1
)
(1.9
)
(4.1
)

(3.0
)

(2.7
)

(2.8
)
Prior accident years catastrophe losses



0.2

(0.3
)
0.8


0.2


0.1


0.3


0.2

   Total loss and loss expense ratio



41.1
 %
34.7
 %
32.8
 %
32.1
 %
34.5
 %

33.2
 %

33.1
 %

33.5
 %
*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 2020 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
 
12/31/20
9/30/20
6/30/20
3/31/20
12/31/19
9/30/19
6/30/19
3/31/19
6/30/20
6/30/19
9/30/20
9/30/19
12/31/20
12/31/19
Personal auto:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Written premiums



$
137

$
141

$
166

$
173

$
140


$
313


$
479


$
620

Year over year change %- written premium



(2
)%
 %
(2
)%
 %
 %

 %

 %

 %
Earned premiums



$
154

$
155

$
156

$
155

$
155


$
310


$
466


$
621

Current accident year before catastrophe losses



69.4
 %
70.8
 %
70.2
 %
73.8
 %
76.2
 %

75.0
 %

73.4
 %

72.7
 %
Current accident year catastrophe losses



2.1

0.4

1.2

1.8

0.5


1.1


1.1


1.0

Prior accident years before catastrophe losses



(8.1
)
(1.7
)
(2.0
)
(9.4
)
(3.3
)

(6.3
)

(4.9
)

(4.1
)
Prior accident years catastrophe losses



(0.4
)

(0.1
)
(0.2
)


(0.1
)

(0.1
)

(0.1
)
   Total loss and loss expense ratio



63.0
 %
69.5
 %
69.3
 %
66.0
 %
73.4
 %

69.7
 %

69.5
 %

69.5
 %
Homeowner:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Written premiums



$
140

$
152

$
173

$
176

$
130


$
306


$
479


$
631

Year over year change %- written premium



8
 %
8
 %
7
 %
8
 %
7
 %

8
 %

7
 %

7
 %
Earned premiums



$
159

$
157

$
154

$
149

$
147


$
296


$
450


$
607

Current accident year before catastrophe losses



53.5
 %
55.7
 %
60.9
 %
53.1
 %
51.9
 %

52.5
 %

55.3
 %

55.5
 %
Current accident year catastrophe losses



23.8

21.7

14.0

22.6

23.2


22.9


19.9


20.3

Prior accident years before catastrophe losses