More on Cincinnati Financial (CINF) Q1 earnings: Earnings higher by $68M Y/Y - $45M from improved property casualty underwriting (combined ratio fell to 91.2 from 99.1), and $17M from net realized investment gains. Book value/share of $35.41, up 6% from Dec. 31. Property casualty new business premiums up 25% Y/Y. Pretax investment income off 2% due to lower interest income and dividends pushed forward to Q4. Shares +0.4% AH. (PR)
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