Headquarters: Fairfield, OH, United States
Founded: Cincinnati, Ohio, U.S 1950
CEO: Mr. Steven Justus Johnston C.F.A., CERA, CFA, FCAS, MAAA
USD as of April 1, 2022
Cincinnati Financial Corporation is an insurance company primarily involved in property and casualty insurance. Founded in 1950, the Cincinnati Financial Corporation operates through its specialized subsidiaries in insurance, indemnity, casualty, life insurance, and underwriting. It is also involved in investments and financial support to other subsidiaries through the CFC Investment Company and asset management services with the CinFin Capital Management Company.
Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation. It also provides director and officer liability insurance, contract and commercial surety bonds, and fidelity bonds; and machinery and equipment coverage. The Personal Lines Insurance segment offers personal auto insurance; homeowner insurance; and dwelling fire, inland marine, personal umbrella liability, and watercraft coverages to individuals. The Excess and Surplus Lines Insurance segment offers commercial casualty insurance that covers businesses for third-party liability from accidents occurring on their premises or arising out of their operations, such as injuries sustained from products; and commercial property insurance, which insures buildings, inventory, equipment, and business income from loss or damage due to various causes, such as fire, wind, hail, water, theft, and vandalism. The Life Insurance segment provides term life insurance products; universal life insurance products; worksite products, such as term life; and whole life insurance products. The Investments segment invests in fixed-maturity investments, including taxable and tax-exempt bonds, and redeemable preferred stocks; and equity investments comprising common and nonredeemable preferred stocks. The company also offers commercial leasing and financing services; and insurance brokerage services. Cincinnati Financial Corporation was founded in 1950 and is headquartered in Fairfield, Ohio.
Cincinnati Financial Corporation offers property and casualty insurance, its main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The company has 1.01% of the domestic property and casualty insurance premiums, which ranks it as the 20th largest insurance company by market share in the U.S. The Cincinnati Insurance Company was founded in 1950 by four agents, including brothers John Jack Schiff and Robert Cleveland Schiff. The Cincinnati Life Insurance Company markets life and disability income insurance and annuities. CFC Investment Company supports the insurance subsidiaries and their independent agent representatives through commercial leasing and financing activities. CinFin Capital Management Company provides asset management services to institutions, corporations and individuals. In 2001, SFAS 133 adjustments were included with realized capital gains or losses rather than investment income. The impact on nine-month 2001 earnings was an after-tax gain of $1.3 million. Prior period 2001 results were restated on this basis. In 2008, Cincinnati began writing excess and surplus lines insurance under a new subsidiary called the Cincinnati Specialty Underwriters Insurance Company. MSP Underwriting, a global specialty underwriter, was acquired in February 2019, and was rebranded Cincinnati Global Underwriting Ltd. on May 1, 2019. Based in London, Cincinnati Global Underwriting Ltd. operates through Cincinnati Global Underwriting Agency Ltd., which is the Lloyd's managing agent for Cincinnati Global Syndicate 318. Collectively, the group is known as Cincinnati Global.
Source: Wikipedia, retrieved on March 31, 2022, 8:44 p.m.
Property & Casualty Insurance; Life Insurance; Asset management
Founder(s): John J. Schiff Sr. Robert C. Schiff Sr.
Steven J. Johnston (CEO)
Revenue: US$7.536 Billion (Fiscal Year Ended 31 December 2020)
Operating income: US$1.499 Billion (Fiscal Year Ended 31 December 2020)
Net income: US$1.216 Billion (Fiscal Year Ended 31 December 2020)
Total assets: US$27.542 Billion (Fiscal Year Ended 31 December 2020)
Total equity: US$10.789 Billion (Fiscal Year Ended 31 December 2020)