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Cincinnati Financial estimates Q3 storm losses

  • Cincinnati Financial (CINF -0.1%) expects to include pretax catastrophe losses of ~$266M for Q3 – representing an impact on Q3 2020 combined ratio of ~18.3 bps, based on estimated property casualty earned premiums.
  • August 2020 losses: Midwest derecho caused ~$103M, Hurricane Laura caused ~$46M in losses, including $30M for Cincinnati Global Underwriting and $12M for Cincinnati Re.
  • Estimated losses and expenses from catastrophe-related claims are expected to bring the company's Q3 2020 property casualty combined ratio to ~102.6% to 104.6%.
  • Net written premium growth is estimated to be ~3% for the quarter.
  • "Our solid financial position ensures our ability to help the families and businesses in our agents' communities on the road to recovery after a covered loss." said Steven J. Johnston, Chairman, President and CEO.

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Cincinnati Financial Corporation