Seeking Alpha

Cincinnati Financial Corporation (CINF)

  • Wed, Jul. 1, 3:47 PM
    • "The management teams of virtually every large property-casualty company will be having a conversation today about whether they should be more active acquirers,” says Sandler O'Neill's Paul Newsome.
    • Before sellers get too excited, they should note the price Ace is paying for Chubb is just 1.7x book value - a discount to what high-quality insurance businesses typically sell for. "“I probably need to reassess what I’m holding out for because I’m never going to get that big price-to-book multiple now," says Newsome. "If a much-vaunted, well-regarded shop gets 1.7x book value, what should the mid-cap company that lacks scale and is kind of struggling get?”
    • Possible buyers would include AIG, Allstate, and Travelers. With each having less than a $15B market cap, maybe on the block: W.R. Berkley (WRB +5.2%), Arch Capital (ACGL +2.7%), XL Group (XL +2%), and Cincinnati Financial (CINF +4.5%). Sporting just an $18B market cap and thus also maybe a target is Hartford Financial (HIG +6%).
    • "There is now literally no deal that cannot be contemplated in P&C," says Citi's Todd Bault.
    • Source: Bloomberg
    • Previously: Ace builds more scale with Chubb purchase (July 1)
    • Previously: P&C stocks on the move after Chubb sale (July 1)
    • Previously: ACE buying Chubb in cash and stock deal for $28.3B (July 1)
    | Wed, Jul. 1, 3:47 PM | Comment!
  • Sep. 29, 2011, 9:45 AM
    Shares of property and casualty insurance peers surge on the Harleysville (HGIC +85.2%) buyout offer: TRV +2.9%, CINF +3%, THG +2.6%, TWGP +3.5%. Life insurers too: MET +5.8%, PRU +5.9%, LNC +6.6%, GNW +5.5%.
    | Sep. 29, 2011, 9:45 AM | Comment!
CINF vs. ETF Alternatives
Company Description
Cincinnati Financial Corp is aproperty casualty insurance company. The Company's business segment areCommercial lines insurance,Personal lines insurance,Excess and surplus lines insurance,Life insurance andInvestments.