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Published: 2023-02-06 16:07:11 ET
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EX-99.2 3 exhibit992q422.htm EX-99.2 Document

Cincinnati Financial Corporation
Supplemental Financial Data
for the Period Ending December 31, 2022

6200 South Gilmore Road
Fairfield, Ohio 45014-5141
cinfin.com
Investor Contact:Media Contact:Shareholder Contact:
Dennis E. McDanielBetsy E. ErtelBrandon McIntosh
513-870-2768513-603-5323513-870-2696
A.M. Best CompanyFitch RatingsMoody's Investors ServiceS&P Global Ratings
Cincinnati Financial Corporation
Corporate DebtaA-A3BBB+
The Cincinnati Insurance Companies
Insurer Financial Strength
Property Casualty Group
      Standard Market Subsidiaries:A+—A1A+
             The Cincinnati Insurance CompanyA+A+A1A+
             The Cincinnati Indemnity CompanyA+A+A1A+
             The Cincinnati Casualty CompanyA+A+A1A+
      Surplus Lines Subsidiary:
             The Cincinnati Specialty Underwriters Insurance CompanyA+———
The Cincinnati Life Insurance CompanyA+A+—A+

Ratings are as of February 3, 2023, 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 Fourth-Quarter 2022 Supplemental Financial Data
1

Cincinnati Financial Corporation
Supplemental Financial Data
Fourth Quarter 2022
Page
Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures
Consolidated
CFC and Subsidiaries Consolidation – Twelve Months Ended December 31, 2022
CFC and Subsidiaries Consolidation – Three Months Ended December 31, 2022
Five-Year Net Income Reconciliation and Key Metrics
Consolidated Property Casualty Insurance Operations
Losses Incurred Detail
Loss Ratio Detail
Loss Claim Count Detail
Direct Written Premiums by Risk State by Line of Business
Quarterly Property Casualty Data – Commercial Lines
Quarterly Property Casualty Data – Personal Lines and Excess & Surplus Lines
Loss and Loss Expense Analysis – Twelve Months Ended December 31, 2022
Loss and Loss Expense Analysis – Three Months Ended December 31, 2022
Reconciliation Data
Quarterly Property Casualty Data – Consolidated
Quarterly Property Casualty Data – Commercial Lines
Quarterly Property Casualty Data – Personal Lines
Quarterly Property Casualty Data – Excess & Surplus Lines
Statutory Statements of Income
Consolidated Cincinnati Insurance Companies Statutory Statements of Income
The Cincinnati Life Insurance Company Statutory Statements of Income
Other
Quarterly Data – Other

CINF Fourth-Quarter 2022 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 Fourth-Quarter 2022 Supplemental Financial Data
3

Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Twelve Months Ended December 31, 2022
(Dollars in millions)CFCCONSOL P&CCLICCFC-IELIMTotal
Revenues
  Premiums earned:
    Property casualty$— $7,238 $— $— $— $7,238 
    Life— — 373 — — 373 
    Premiums ceded— (314)(78)— — (392)
      Total earned premium— 6,924 295 — — 7,219 
  Investment income, net of expenses101 509 171 — — 781 
  Investment gains and losses, net(790)(675)(2)— — (1,467)
  Fee revenues— 10 4 — — 14 
  Other revenues15 4 — 7 (16)10 
Total revenues$(674)$6,772 $468 $7 $(16)$6,557 
Benefits & expenses
  Losses & contract holders' benefits$— $4,891 $386 $— $— $5,277 
  Reinsurance recoveries— (175)(90)— — (265)
  Underwriting, acquisition and insurance expenses— 2,078 84 — — 2,162 
  Interest expense53 — — — — 53 
  Other operating expenses33 3 — 3 (16)23 
Total expenses$86 $6,797 $380 $3 $(16)$7,250 
Income (loss) before income taxes$(760)$(25)$88 $4 $— $(693)
Provision (benefit) for income taxes
  Current operating income $188 $242 $25 $— $— $455 
  Capital gains/losses(166)(141)— — — (307)
  Deferred(183)(169)(3)— — (355)
Total provision (benefit) for income taxes$(161)$(68)$22 $— $— $(207)
Net income (loss) - current year$(599)$43 $66 $4 $— $(486)
Net income - prior year$862 $2,037 $44 $3 $— $2,946 
*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.

CINF Fourth-Quarter 2022 Supplemental Financial Data
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Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended December 31, 2022
(Dollars in millions)CFCCONSOL P&CCLICCFC-IELIMTotal
Revenues
  Premiums earned:
    Property casualty$— $1,887 $— $— $— $1,887 
    Life— — 95 — — 95 
    Premiums ceded— (87)(21)— — (108)
      Total earned premium— 1,800 74 — — 1,874 
  Investment income, net of expenses29 135 44 — — 208 
  Investment gains and losses, net342 686 (1)— — 1,027 
  Fee revenues— 2 — — — 2 
  Other revenues3 1 — 2 (3)3 
Total revenues$374 $2,624 $117 $2 $(3)$3,114 
Benefits & expenses
  Losses & contract holders' benefits$— $1,271 $88 $— $— $1,359 
  Reinsurance recoveries— (99)(14)— — (113)
  Underwriting, acquisition and insurance expenses— 537 21 — — 558 
  Interest expense13 — — — — 13 
  Other operating expenses9 3 — 1 (3)10 
Total expenses$22 $1,712 $95 $1 $(3)$1,827 
Income before income taxes$352 $912 $22 $1 $— $1,287 
Provision (benefit) for income taxes
  Current operating income$(70)$(96)$8 $— $— $(158)
  Capital gains/losses71 145 — — — 216 
  Deferred76 140 — — — 216 
Total provision for income taxes$77 $189 $8 $— $— $274 
Net income - current year$275 $723 $14 $1 $— $1,013 
Net income - prior year$569 $892 $9 $— $— $1,470 
 *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.

CINF Fourth-Quarter 2022 Supplemental Financial Data
5

Cincinnati Financial Corporation
Five-Year Net Income Reconciliation and Key Metrics
(Dollars in millions except per share data)Years ended December 31,
20222021202020192018
Net income (loss)$(486)$2,946 $1,216 $1,997 $287 
Less:
Investment gains and losses, net(1,467)2,409 865 1,650 (402)
Income tax on investment gains and losses308 (506)(182)(347)84 
Investment gains and losses, after-tax(1,159)1,903 683 1,303 (318)
     Other non-recurring items— — — — 56 
Non-GAAP operating income$673 $1,043 $533 $694 $549 
Non-GAAP operating income: Five-year compound annual growth rate8.1 %15.3 %(2.0)%9.5 %3.5 %
Diluted per share data:
Net income (loss)$(3.06)$18.10 $7.49 $12.10 $1.75 
Less:
Investment gains and losses, net(9.24)14.80 5.33 10.00 (2.44)
Income tax on investment gains and losses1.94 (3.11)(1.12)(2.10)0.50 
Investment gains and losses, after-tax(7.30)11.69 4.21 7.90 (1.94)
     Other non-recurring items— — — — 0.34 
Non-GAAP operating income$4.24 $6.41 $3.28 $4.20 $3.35 
Value creation ratio
Book value per share growth(18.0)%21.9 %10.7 %25.9 %(4.3)%
Shareholder dividend declared as a percentage of beginning book value3.4 3.8 4.0 4.6 4.2 
Value creation ratio(14.6)%25.7 %14.7 %30.5 %(0.1)%
Value creation ratio: Five-year average11.2 %18.7 %16.5 %14.2 %10.7 %
Investment income, net of expenses$781 $714 $670 $646 $619 
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
*Includes results from our Cincinnati Re operations and Cincinnati Global, which was acquired on February 28, 2019.

CINF Fourth-Quarter 2022 Supplemental Financial Data
6

Consolidated Property Casualty
Losses Incurred Detail
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Consolidated
Current accident year losses greater than $5,000,000$44 $38 $38 $23 $55 $14 $38 $5 $61 $43 $99 $57 $143 $112 
Current accident year losses $1,000,000-$5,000,00071 95 77 82 103 72 51 31 159 82 254 154 325 257 
Large loss prior accident year reserve development(1)13 38 25 28 30 13 24 63 37 76 67 75 95 
   Total large losses incurred$114 $146 $153 $130 $186 $116 $102 $60 $283 $162 $429 $278 $543 $464 
Losses incurred but not reported136 131 74 36 (71)(13)(37)102 110 65 241 52 377 (19)
Other losses excluding catastrophe losses613 649 648 592 520 514 577 451 1,240 1,028 1,889 1,542 2,502 2,062 
Catastrophe losses134 246 208 24 51 215 56 150 232 206 478 421 612 472 
   Total losses incurred$997 $1,172 $1,083 $782 $686 $832 $698 $763 $1,865 $1,461 $3,037 $2,293 $4,034 $2,979 
Commercial Lines
Current accident year losses greater than $5,000,000$34 $30 $15 $16 $50 $4 $38 $5 $31 $43 $61 $47 $95 $97 
Current accident year losses $1,000,000-$5,000,00045 72 53 67 70 60 29 26 120 55 192 115 237 185 
Large loss prior accident year reserve development(6)12 36 21 27 29 14 26 57 40 69 69 63 96 
   Total large losses incurred$73 $114 $104 $104 $147 $93 $81 $57 $208 $138 $322 $231 $395 $378 
Losses incurred but not reported108 97 61 38 (53)(35)(34)39 99 5 196 (30)304 (83)
Other losses excluding catastrophe losses338 345 363 318 274 270 326 261 681 587 1,026 857 1,364 1,131 
Catastrophe losses96 44 124 11 24 30 27 35 135 62 179 92 275 116 
   Total losses incurred$615 $600 $652 $471 $392 $358 $400 $392 $1,123 $792 $1,723 $1,150 $2,338 $1,542 
Personal Lines
Current accident year losses greater than $5,000,000$10 $8 $23 $7 $5 $10 $— $— $30 $— $38 $10 $48 $15 
Current accident year losses $1,000,000-$5,000,00021 17 15 11 25 12 15 4 26 19 43 31 64 56 
Large loss prior accident year reserve development4 (1)1 4 — (1)(2)(1)5 (3)4 (4)8 (4)
   Total large losses incurred$35 $24 $39 $22 $30 $21 $13 $3 $61 $16 $85 $37 $120 $67 
Losses incurred but not reported(2)9 12 (14)(26)— (4)41 (2)37 7 37 5 11 
Other losses excluding catastrophe losses176 183 176 165 146 154 158 130 341 288 524 442 700 588 
Catastrophe losses36 66 78 6 16 69 39 74 84 113 150 182 186 198 
   Total losses incurred$245 $282 $305 $179 $166 $244 $206 $248 $484 $454 $766 $698 $1,011 $864 
Excess & Surplus Lines
Current accident year losses greater than $5,000,000$— $— $— $— $— $— $— $— $— $— $— $— $— $— 
Current accident year losses $1,000,000-$5,000,0005 6 9 4 8 — 7 1 13 8 19 8 24 16 
Large loss prior accident year reserve development1 2 1 — 1 2 1 (1)1 — 3 2 4 3 
   Total large losses incurred$6 $8 $10 $4 $9 $2 $8 $— $14 $8 $22 $10 $28 $19 
Losses incurred but not reported30 25 1 12 8 22 1 22 13 23 38 45 68 53 
Other losses excluding catastrophe losses25 32 38 32 25 23 34 15 70 49 102 72 127 97 
Catastrophe losses2 (1)2 1 — 1 — 1 3 1 2 2 4 2 
   Total losses incurred$63 $64 $51 $49 $42 $48 $43 $38 $100 $81 $164 $129 $227 $171 
*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.

CINF Fourth-Quarter 2022 Supplemental Financial Data
7

Consolidated Property Casualty
Loss Ratio Detail
Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Consolidated
Current accident year losses greater than $5,000,0002.4 %2.1 %2.2 %1.4 %3.4 %0.9 %2.5 %0.3 %1.8 %1.4 %1.9 %1.2 %2.1 %1.8 %
Current accident year losses $1,000,000-$5,000,0004.0 5.3 4.6 5.1 6.4 4.5 3.4 2.2 4.8 2.8 5.0 3.4 4.6 4.2 
Large loss prior accident year reserve development(0.1)0.7 2.2 1.5 1.8 1.9 0.9 1.6 1.9 1.2 1.5 1.5 1.1 1.5 
   Total large loss ratio6.3 %8.1 %9.0 %8.0 %11.6 %7.3 %6.8 %4.1 %8.5 %5.4 %8.4 %6.1 %7.8 %7.5 %
Losses incurred but not reported7.6 7.2 4.4 2.2 (4.4)(0.8)(2.4)6.9 3.3 2.2 4.7 1.1 5.5 (0.3)
Other losses excluding catastrophe losses34.1 35.9 38.1 36.6 32.5 32.2 38.0 30.5 37.4 34.4 36.9 33.6 36.2 33.4 
Catastrophe losses7.4 13.6 12.3 1.5 3.2 13.4 3.7 10.2 7.0 6.9 9.3 9.2 8.8 7.6 
   Total loss ratio55.4 %64.8 %63.8 %48.3 %42.9 %52.1 %46.1 %51.7 %56.2 %48.9 %59.3 %50.0 %58.3 %48.2 %
Commercial Lines
Current accident year losses greater than $5,000,0003.3 %3.0 %1.4 %1.7 %5.3 %0.5 %4.2 %0.6 %1.6 %2.4 %2.0 %1.7 %2.4 %2.6 %
Current accident year losses $1,000,000-$5,000,0004.2 7.1 5.3 6.9 7.3 6.5 3.2 2.9 6.1 3.1 6.5 4.2 5.8 5.0 
Large loss prior accident year reserve development(0.5)1.1 3.7 2.1 2.8 3.1 1.4 3.0 2.9 2.2 2.3 2.6 1.6 2.7 
   Total large loss ratio7.0 %11.2 %10.4 %10.7 %15.4 %10.1 %8.8 %6.5 %10.6 %7.7 %10.8 %8.5 %9.8 %10.3 %
Losses incurred but not reported10.4 9.4 6.1 4.0 (5.7)(3.7)(3.6)4.3 5.1 0.3 6.6 (1.1)7.6 (2.3)
Other losses excluding catastrophe losses32.5 33.6 36.6 33.0 29.1 29.0 35.7 29.4 34.8 32.6 34.3 31.4 33.9 30.8 
Catastrophe losses9.3 4.2 12.5 1.2 2.6 3.1 3.0 4.0 6.9 3.5 6.0 3.4 6.8 3.2 
   Total loss ratio59.2 %58.4 %65.6 %48.9 %41.4 %38.5 %43.9 %44.2 %57.4 %44.1 %57.7 %42.2 %58.1 %42.0 %
Personal Lines
Current accident year losses greater than $5,000,0002.1 %1.9 %5.7 %1.7 %1.3 %2.6 %— %— %3.7 %— %3.1 %0.9 %2.8 %1.0 %
Current accident year losses $1,000,000-$5,000,0005.0 3.7 3.6 2.7 6.4 2.9 4.0 1.2 3.2 2.5 3.4 2.7 3.8 3.6 
Large loss prior accident year reserve development0.8 — 0.1 1.1 — (0.2)(0.5)(0.3)0.6 (0.3)0.3 (0.4)0.5 (0.2)
   Total large loss ratio7.9 %5.6 %9.4 %5.5 %7.7 %5.3 %3.5 %0.9 %7.5 %2.2 %6.8 %3.2 %7.1 %4.4 %
Losses incurred but not reported(0.3)2.0 3.1 (3.6)(6.5)(0.1)(1.1)11.0 (0.2)4.9 0.6 3.2 0.3 0.7 
Other losses excluding catastrophe losses39.6 42.5 42.4 41.2 36.7 39.7 41.4 34.4 41.8 37.9 42.1 38.6 41.5 38.1 
Catastrophe losses8.1 15.5 18.8 1.4 4.1 17.7 10.3 19.6 10.2 14.9 12.0 15.9 11.0 12.8 
   Total loss ratio55.3 %65.6 %73.7 %44.5 %42.0 %62.6 %54.1 %65.9 %59.3 %59.9 %61.5 %60.9 %59.9 %56.0 %
Excess & Surplus Lines
Current accident year losses greater than $5,000,000— %— %— %— %— %— %— %— %— %— %— %— %— %— %
Current accident year losses $1,000,000-$5,000,0004.4 4.0 7.8 3.6 7.5 (0.1)7.5 1.2 5.8 4.5 5.2 2.8 5.0 4.1 
Large loss prior accident year reserve development0.6 2.1 0.4 0.3 0.8 1.9 1.3 (1.7)0.3 (0.2)0.9 0.6 0.8 0.6 
   Total large loss ratio5.0 %6.1 %8.2 %3.9 %8.3 %1.8 %8.8 %(0.5)%6.1 %4.3 %6.1 %3.4 %5.8 %4.7 %
Losses incurred but not reported24.4 20.0 0.7 10.6 7.9 21.2 0.8 24.8 5.4 12.3 10.5 15.5 14.0 13.4 
Other losses excluding catastrophe losses19.7 26.3 31.5 27.4 22.3 21.9 35.0 17.8 29.6 26.8 28.4 25.0 26.2 24.3 
Catastrophe losses1.3 (0.5)1.1 1.1 0.8 0.2 0.4 1.0 1.1 0.7 0.6 0.5 0.8 0.6 
   Total loss ratio50.4 %51.9 %41.5 %43.0 %39.3 %45.1 %45.0 %43.1 %42.2 %44.1 %45.6 %44.4 %46.8 %43.0 %
*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.

CINF Fourth-Quarter 2022 Supplemental Financial Data
8

Consolidated Property Casualty
Loss Claim Count Detail
Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Consolidated
Current accident year reported losses greater
 than $5,000,000		7 6 6 3 7 3 6 1 9 7 15 9 22 17 
Current accident year reported losses
 $1,000,000 - $5,000,000		60 59 47 51 76 44 35 24 97 59 155 106 205 170 
Prior accident year reported losses on
   large losses		14 18 28 28 16 22 12 20 56 32 73 55 87 71 
   Non-Catastrophe reported losses on
      large losses total		81 83 81 82 99 69 53 45 162 98 243 170 314 258 
Commercial Lines
Current accident year reported losses greater
 than $5,000,000		5 5 2 2 7 2 6 1 4 7 9 8 14 15 
Current accident year reported losses
 $1,000,000 - $5,000,000		38 48 31 39 50 37 19 20 69 39 116 78 151 120 
Prior accident year reported losses on
   large losses		10 15 25 24 14 19 8 18 49 26 64 46 74 60 
   Non-Catastrophe reported losses on
      large losses total		53 68 58 65 71 58 33 39 122 72 189 132 239 195 
Personal Lines
Current accident year reported losses greater
 than $5,000,000		2 1 4 1 — 1 — — 5 — 6 1 8 2 
Current accident year reported losses
 $1,000,000 - $5,000,000		16 6 9 8 17 6 11 3 17 14 23 20 37 34 
Prior accident year reported losses on
   large losses		2 — 2 3 1 1 1 2 5 3 4 4 6 5 
   Non-Catastrophe reported losses on
      large losses total		20 7 15 12 18 8 12 5 27 17 33 25 51 41 
Excess & Surplus Lines
Current accident year reported losses greater
 than $5,000,000		— — — — — — — — — — — — — — 
Current accident year reported losses
 $1,000,000 - $5,000,000		6 5 7 4 9 1 5 1 11 6 16 8 17 16 
Prior accident year reported losses on
   large losses		2 3 1 1 1 2 3 — 2 3 5 5 7 6 
   Non-Catastrophe reported losses on
      large losses total		8 8 8 5 10 3 8 1 13 9 21 13 24 22 
*The sum of quarterly amounts may not equal the full year as each is computed independently.

CINF Fourth-Quarter 2022 Supplemental Financial Data
9

  Consolidated Cincinnati Insurance Companies
Direct Written Premiums by Risk State by Line of Business for the Twelve Months Ended December 31, 2022
(Dollars in millions)Commercial Lines Personal LinesE & SConsolidatedComm'l
Change
%		Personal
Change
% 		E & S
Change
% 		Consol
Change
%
Risk
State 		Comm
Casualty 		Comm
Property 		Comm
Auto 		Workers'
Comp		Other CommPersonal
Auto 		Home OwnerOther
Personal 		All
Lines 		20222021
TotalTotal
OH$187.9 $185.0 $117.1 $— $53.7 $128.8 $136.8 $41.8 $28.3 $879.1 $828.2 6.6 4.9 11.2 6.1 
IL76.0 69.4 38.9 34.7 19.9 39.7 47.3 14.4 31.2 371.4 337.8 5.5 18.0 22.2 9.9 
NY80.5 41.1 22.0 11.8 15.6 35.0 84.9 25.0 30.4 346.2 287.7 17.7 24.6 15.8 20.3 
NC66.2 87.6 34.2 12.1 20.7 32.6 38.8 10.5 22.5 325.1 297.4 10.7 5.4 10.3 9.3 
GA50.9 57.5 33.4 9.5 22.4 52.9 56.8 15.2 25.5 324.2 303.9 8.1 4.3 8.9 6.7 
PA83.2 64.5 41.4 28.7 16.8 16.2 19.4 6.5 25.3 302.1 281.4 5.4 7.7 29.1 7.4 
IN64.0 62.4 37.2 20.4 18.2 28.1 37.6 8.4 19.5 295.7 273.1 7.7 6.7 21.8 8.3 
TX65.0 29.2 40.2 3.7 14.7 21.1 35.5 9.6 43.6 262.5 224.7 13.2 24.7 18.9 16.8 
TN50.5 56.3 32.3 7.7 15.8 17.7 28.0 7.1 13.0 228.4 211.6 7.5 7.7 15.1 7.9 
MI48.2 49.3 28.8 11.4 17.8 23.2 24.3 6.3 17.9 227.3 213.0 7.4 (0.3)25.3 6.7 
MO48.7 47.4 30.9 16.0 8.6 18.2 25.2 5.1 18.1 217.9 189.0 11.6 27.6 18.4 15.3 
VA50.0 42.1 33.1 14.1 17.2 15.2 18.1 5.8 10.4 206.1 189.2 8.3 9.8 14.9 8.9 
AL34.8 43.2 22.4 2.4 13.8 23.1 37.6 7.5 18.4 203.3 188.5 6.9 5.5 25.3 7.9 
FL47.2 14.9 36.0 2.9 11.1 12.1 25.5 11.8 34.3 195.9 158.7 13.6 56.9 20.3 23.4 
KY37.2 44.7 29.6 4.2 13.5 22.9 26.7 6.1 9.9 194.9 180.5 10.8 3.5 (1.6)8.0 
CA2.4 0.9 2.4 3.4 0.6 19.3 125.5 20.8 1.4 176.7 108.9 10.2 67.9 (5.6)62.3 
WI34.7 34.1 15.5 20.3 10.1 10.7 13.1 5.1 12.8 156.4 148.3 6.4 5.9 (3.0)5.5 
MN32.2 35.4 10.8 7.2 9.0 12.1 17.8 4.8 14.1 143.4 140.0 4.6 (4.7)7.2 2.4 
MD22.4 17.7 16.3 8.1 8.4 15.6 16.6 5.7 7.7 118.5 111.6 3.4 8.8 23.4 6.2 
AZ27.8 21.0 17.4 4.8 6.4 9.0 10.9 4.1 13.2 114.6 104.8 4.8 18.6 24.1 9.4 
OR36.1 19.1 22.8 0.3 5.9 4.8 3.6 1.0 11.0 104.4 91.5 11.9 10.6 39.4 14.1 
UT24.3 17.4 14.6 1.8 6.1 9.0 8.3 1.8 14.7 97.9 85.0 15.5 11.5 18.9 15.2 
AR16.8 24.0 19.2 2.3 4.5 6.9 10.1 2.9 6.8 93.5 82.6 14.2 9.4 15.7 13.3 
CT12.6 8.8 4.6 4.1 1.9 20.2 25.4 8.3 4.7 90.6 81.8 4.2 15.8 4.1 10.8 
WA24.6 15.2 16.5 — 5.3 9.2 8.7 3.2 7.7 90.4 65.7 30.3 52.7 66.1 37.6 
SC16.3 19.9 11.0 3.5 5.1 9.3 11.4 2.2 8.8 87.5 78.4 14.0 8.4 5.5 11.6 
MT29.4 22.7 16.1 — 4.8 3.2 4.8 1.0 5.1 86.9 75.4 13.8 20.4 31.8 15.3 
CO22.2 11.2 15.4 2.2 4.4 4.0 9.6 1.4 15.7 86.1 73.7 12.0 36.4 18.6 16.8 
IA21.1 23.2 8.5 8.3 7.5 4.3 5.9 1.4 4.9 84.9 79.1 6.7 4.8 26.5 7.4 
KS20.0 19.9 13.8 5.3 4.8 5.4 9.1 1.6 4.4 84.2 70.0 18.7 29.8 10.0 20.2 
ID23.5 17.1 13.1 1.1 3.9 2.6 3.4 0.8 5.2 70.6 64.3 9.8 3.1 19.8 9.8 
MA13.2 7.0 5.3 3.3 1.9 8.5 20.4 5.6 4.7 69.9 45.0 64.9 47.3 128.7 55.3 
NJ11.3 6.9 3.8 2.6 3.6 7.0 10.8 5.4 5.6 57.0 45.5 24.9 28.8 12.8 25.1 
NE12.4 14.2 8.3 5.0 3.4 0.5 1.2 0.2 4.9 50.3 46.6 5.4 (0.6)42.9 7.9 
WV9.5 12.3 8.4 1.2 1.8 0.1 0.4 0.1 5.3 39.0 35.6 7.1 33.2 24.3 9.5 
NM10.6 7.8 7.6 1.3 2.9 0.2 0.5 0.1 4.9 35.9 33.3 1.9 nm33.1 7.6 
VT7.7 8.3 3.8 4.4 2.9 1.9 3.2 0.6 2.8 35.8 32.2 7.9 11.6 56.5 11.2 
NH5.3 5.0 2.9 2.0 1.7 2.3 3.2 1.0 1.9 25.2 23.5 2.7 16.2 24.3 7.3 
DE7.7 5.7 4.2 2.0 1.6 0.7 1.0 0.3 2.0 25.1 23.5 4.3 39.1 13.0 7.1 
SD5.1 7.0 2.5 1.3 2.0 — — — 1.1 18.9 16.2 19.0 (100.0)(9.5)16.9 
ND4.7 5.8 2.8 — 1.7 0.9 1.1 0.4 1.3 18.8 17.3 6.8 6.4 35.7 8.4 
WY5.3 5.3 3.6 — 1.0 0.1 0.6 0.1 1.8 17.8 14.5 22.3 93.1 8.3 22.8 
DC3.3 2.1 0.2 1.0 1.7 0.8 1.0 0.4 2.7 13.2 8.8 39.7 31.2 86.1 49.9 
NV0.9 0.7 1.0 0.3 0.5 0.9 1.3 0.6 1.0 7.1 4.6 29.5 112.6 38.1 54.7 
RI0.3 0.3 0.4 0.3 — 0.7 2.7 1.0 0.3 5.9 2.6 117.6 138.0 (37.5)129.8 
OK0.8 0.3 0.6 0.8 0.4 — — — 0.4 3.3 3.1 17.2 — 58.0 6.7 
All Other States2.2 1.1 1.2 1.7 1.4 0.3 2.7 0.2 1.2 12.1 9.8 6.0 289.0 (28.0)24.0 
 Total$1,456.7 $1,291.9 $852.2 $279.7 $396.6 $657.1 $976.8 $263.1 $528.2 $6,702.0 $5,987.9 9.5 15.9 18.3 12.4 
*Dollar amounts shown are rounded to the nearest hundred thousand; certain amounts may not add due to rounding. Percentage changes are calculated based on whole dollar amounts. *nm - Not meaningful
*Total excludes Cincinnati Re, Cincinnati Global and other direct, such as assigned risk pools.


CINF Fourth-Quarter 2022 Supplemental Financial Data
10

Quarterly Property Casualty Data - Commercial Lines
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Commercial casualty:
Written premiums$353 $326 $376 $389 $317 $297 $338 $363 $765 $701 $1,091 $998 $1,444 $1,315 
Year over year change %-written premium 11 %10 %11 %7 %10 %10 %10 %6 %9 %8 %9 %9 %10 %9 %
Earned premiums$370 $360 $350 $336 $332 $323 $312 $303 $686 $615 $1,046 $938 $1,416 $1,270 
Current accident year before catastrophe losses72.4 %73.7 %75.0 %65.6 %63.3 %61.9 %61.5 %64.5 %70.4 %63.0 %71.6 %62.6 %71.8 %62.8 %
Current accident year catastrophe losses— — — — — — — — — — — — — — 
Prior accident years before catastrophe losses(0.2)6.4 (0.7)1.4 (10.5)(16.1)(8.3)(2.2)0.3 (5.3)2.4 (9.0)1.7 (9.4)
Prior accident years catastrophe losses— — — — — — — — — — — — — — 
   Total loss and loss expense ratio72.2 %80.1 %74.3 %67.0 %52.8 %45.8 %53.2 %62.3 %70.7 %57.7 %74.0 %53.6 %73.5 %53.4 %
Commercial property:
Written premiums$297 $309 $308 $297 $270 $278 $275 $267 $606 $542 $915 $820 $1,212 $1,090 
Year over year change %-written premium10 %11 %12 %11 %10 %10 %6 %2 %12 %4 %12 %6 %11 %7 %
Earned premiums$290 $292 $280 $274 $267 $264 $259 $253 $554 $512 $846 $776 $1,136 $1,043 
Current accident year before catastrophe losses42.5 %47.4 %54.5 %52.4 %41.8 %41.6 %47.3 %53.8 %53.4 %50.5 %51.3 %47.5 %49.1 %46.0 %
Current accident year catastrophe losses38.3 14.7 44.4 5.1 13.9 12.4 14.0 20.0 24.9 16.9 21.4 15.4 25.7 15.0 
Prior accident years before catastrophe losses(0.5)(6.7)0.6 (2.4)(6.0)(11.1)(1.1)(2.0)(0.8)(1.5)(2.9)(4.8)(2.2)(5.1)
Prior accident years catastrophe losses(2.2)(1.4)(3.0)0.5 (4.8)(2.0)(3.8)(6.3)(1.3)(5.0)(1.3)(4.0)(1.6)(4.2)
   Total loss and loss expense ratio78.1 %54.0 %96.5 %55.6 %44.9 %40.9 %56.4 %65.5 %76.2 %60.9 %68.5 %54.1 %71.0 %51.7 %
Commercial auto:
Written premiums$201 $194 $226 $237 $194 $183 $216 $223 $463 $439 $657 $622 $858 $816 
Year over year change %-written premium4 %6 %5 %6 %8 %7 %5 %7 %5 %6 %6 %7 %5 %7 %
Earned premiums$215 $213 $210 $205 $203 $200 $198 $193 $415 $391 $627 $591 $842 $794 
Current accident year before catastrophe losses72.6 %78.8 %66.5 %67.0 %67.5 %63.7 %63.0 %63.1 %66.7 %63.0 %70.8 %63.3 %71.3 %64.4 %
Current accident year catastrophe losses(2.4)3.3 5.1 0.9 0.6 1.8 1.5 1.6 3.1 1.6 3.1 1.7 1.7 1.4 
Prior accident years before catastrophe losses3.6 7.5 2.8 (0.7)0.2 (3.6)(6.0)(12.4)1.1 (9.2)3.3 (7.3)3.3 (5.4)
Prior accident years catastrophe losses— — (0.5)(2.1)0.3 (0.1)(0.2)(0.3)(1.3)(0.2)(0.9)(0.2)(0.6)(0.1)
   Total loss and loss expense ratio73.8 %89.6 %73.9 %65.1 %68.6 %61.8 %58.3 %52.0 %69.6 %55.2 %76.3 %57.5 %75.7 %60.3 %
Workers' compensation:
Written premiums$64 $60 $69 $86 $59 $53 $69 $88 $154 $157 $214 $210 $278 $269 
Year over year change %-written premium8 %13 %— %(2)%2 %4 %6 %(4)%(2)%— %2 %1 %3 %1 %
Earned premiums$75 $73 $68 $67 $67 $66 $68 $67 $136 $135 $209 $201 $284 $268 
Current accident year before catastrophe losses76.0 %80.3 %83.5 %84.5 %79.8 %82.3 %87.6 %76.6 %84.0 %82.2 %82.7 %82.2 %80.9 %81.6 %
Current accident year catastrophe losses— — — — — — — — — — — — — — 
Prior accident years before catastrophe losses(27.0)(21.5)(25.9)(14.3)(10.5)(10.5)(39.2)(37.9)(20.2)(38.6)(20.6)(29.3)(22.3)(24.7)
Prior accident years catastrophe losses— — — — — — — — — — — — — — 
   Total loss and loss expense ratio49.0 %58.8 %57.6 %70.2 %69.3 %71.8 %48.4 %38.7 %63.8 %43.6 %62.1 %52.9 %58.6 %56.9 %
Other commercial:
Written premiums$92 $95 $93 $87 $80 $84 $79 $78 $180 $157 $275 $241 $367 $321 
Year over year change %-written premium15 %13 %18 %12 %14 %18 %13 %11 %15 %12 %14 %14 %14 %14 %
Earned premiums$90 $90 $86 $80 $78 $77 $74 $70 $165 $144 $256 $221 $346 $299 
Current accident year before catastrophe losses33.3 %37.7 %37.3 %38.2 %41.6 %39.4 %38.0 %38.2 %37.7 %38.1 %37.7 %38.6 %36.6 %39.4 %
Current accident year catastrophe losses— 0.1 0.1 — (0.2)0.4 0.1 — 0.1 — 0.1 0.1 0.1 — 
Prior accident years before catastrophe losses(4.7)(4.3)(7.4)(2.9)(8.9)(8.4)(11.2)(7.7)(5.3)(9.5)(4.9)(9.1)(4.9)(9.1)
Prior accident years catastrophe losses— — — — — — — — — — — — — — 
   Total loss and loss expense ratio28.6 %33.5 %30.0 %35.3 %32.5 %31.4 %26.9 %30.5 %32.5 %28.6 %32.9 %29.6 %31.8 %30.3 %
*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 Fourth-Quarter 2022 Supplemental Financial Data
11


Quarterly Property Casualty Data - Personal Lines
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Personal auto:
Written premiums$158 $179 $177 $140 $141 $165 $166 $136 $316 $302 $496 $467 $654 $608 
Year over year change %-written premium12 %8 %7 %3 %1 %— %(2)%(1)%5 %(1)%6 %(1)%8 %(1)%
Earned premiums$161 $158 $155 $152 $152 $153 $152 $152 $307 $305 $465 $457 $626 $609 
Current accident year before catastrophe losses77.4 %74.3 %74.5 %69.4 %62.3 %65.8 %64.5 %66.1 %72.0 %65.3 %72.8 %65.5 %74.0 %64.7 %
Current accident year catastrophe losses(4.6)15.9 6.1 1.4 0.2 5.3 1.7 2.6 3.7 2.2 7.9 3.2 4.6 2.4 
Prior accident years before catastrophe losses0.7 3.4 1.4 0.9 (4.4)(0.4)(5.5)(9.3)1.2 (7.5)1.9 (5.1)1.6 (4.9)
Prior accident years catastrophe losses— (0.1)(0.6)(4.7)0.3 (0.1)(0.2)(0.5)(2.7)(0.3)(1.8)(0.3)(1.3)(0.1)
   Total loss and loss expense ratio73.5 %93.5 %81.4 %67.0 %58.4 %70.6 %60.5 %58.9 %74.2 %59.7 %80.8 %63.3 %78.9 %62.1 %
Homeowner:
Written premiums$226 $255 $260 $181 $188 $214 $211 $156 $441 $367 $695 $581 $921 $769 
Year over year change %-written premium20 %19 %23 %16 %13 %13 %7 %11 %20 %9 %20 %10 %20 %11 %
Earned premiums$220 $213 $202 $195 $190 $184 $178 $174 $397 $352 $609 $536 $829 $726 
Current accident year before catastrophe losses42.1 %47.3 %54.8 %45.9 %38.0 %42.3 %50.2 %51.6 %50.4 %50.9 %49.3 %47.9 %47.4 %45.4 %
Current accident year catastrophe losses22.4 20.9 38.6 13.0 10.9 36.8 20.7 41.1 26.1 30.8 24.3 32.9 23.8 27.1 
Prior accident years before catastrophe losses0.2 1.6 (2.5)(8.7)(4.4)(1.0)0.9 (0.5)(5.5)0.2 (3.0)(0.2)(2.2)(1.3)
Prior accident years catastrophe losses(1.5)(3.8)(5.2)(7.2)(1.4)— (0.5)(0.7)(6.2)(0.6)(5.4)(0.4)(4.3)(0.7)
   Total loss and loss expense ratio63.2 %66.0 %85.7 %43.0 %43.1 %78.1 %71.3 %91.5 %64.8 %81.3 %65.2 %80.2 %64.7 %70.5 %
Other personal:
Written premiums$61 $68 $73 $53 $53 $56 $62 $46 $127 $108 $195 $164 $256 $217 
Year over year change %-written premium15 %21 %18 %15 %10 %8 %9 %10 %18 %9 %19 %9 %18 %9 %
Earned premiums$62 $60 $56 $55 $54 $51 $52 $50 $111 $101 $172 $153 $234 $207 
Current accident year before catastrophe losses54.1 %63.8 %64.6 %47.2 %45.8 %53.8 %45.9 %50.0 %56.0 %48.0 %58.7 %49.9 %57.5 %48.9 %
Current accident year catastrophe losses(0.1)10.8 5.2 0.9 0.2 4.5 3.9 3.6 3.1 3.7 5.8 4.0 4.2 3.0 
Prior accident years before catastrophe losses(4.4)(15.7)1.4 4.6 5.0 (0.9)(8.6)(3.8)3.0 (6.2)(3.5)(4.4)(3.8)(1.9)
Prior accident years catastrophe losses(0.1)0.4 0.4 0.4 (1.4)(0.4)0.4 (1.5)0.3 (0.6)0.4 (0.5)0.3 (0.8)
   Total loss and loss expense ratio49.5 %59.3 %71.6 %53.1 %49.6 %57.0 %41.6 %48.3 %62.4 %44.9 %61.4 %49.0 %58.2 %49.2 %
Quarterly Property Casualty Data - Excess & Surplus Lines
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Excess & Surplus:
Written premiums$122 $121 $135 $124 $108 $104 $115 $99 $259 $214 $380 $318 $502 $426 
Year over year change %-written premium13 %16 %17 %25 %17 %30 %26 %16 %21 %22 %19 %24 %18 %22 %
Earned premiums$124 $125 $124 $112 $109 $105 $95 $89 $236 $184 $361 $289 $485 $398 
Current accident year before catastrophe losses66.4 %74.8 %59.5 %61.8 %56.0 %62.6 %62.0 %61.0 %60.6 %61.5 %65.4 %61.9 %65.7 %60.3 %
Current accident year catastrophe losses1.6 (0.4)1.2 1.5 0.6 0.4 0.4 1.3 1.3 0.8 0.8 0.7 1.0 0.6 
Prior accident years before catastrophe losses3.8 (5.9)(0.4)(4.6)1.2 3.3 (1.5)4.7 (2.4)1.5 (3.6)2.1 (1.7)1.9 
Prior accident years catastrophe losses(0.2)(0.1)(0.1)(0.4)0.3 (0.1)0.1 (0.3)(0.2)(0.1)(0.2)(0.1)(0.2)— 
   Total loss and loss expense ratio71.6 %68.4 %60.2 %58.3 %58.1 %66.2 %61.0 %66.7 %59.3 %63.7 %62.4 %64.6 %64.8 %62.8 %
*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 Fourth-Quarter 2022 Supplemental Financial Data
12

Consolidated Property Casualty Loss and Loss Expense Analysis
(Dollars in millions)Change inChange inChange inTotalLoss
PaidPaid lossTotalcaseIBNRloss expensechange inCaseIBNRexpenseTotal
lossesexpensepaidreservesreservesreservesreservesincurredincurredincurredincurred
Gross loss and loss expense incurred for the twelve months ended December 31, 2022
  Commercial casualty$541 $185 $726 $104 $204 $18 $326 $645 $204 $203 $1,052 
  Commercial property636 65 701 (56)174 8 126 580 174 73 827 
  Commercial auto479 85 564 30 39 6 75 509 39 91 639 
  Workers' compensation127 32 159 (9)17 1 9 118 17 33 168 
  Other commercial93 16 109 5 7 9 21 98 7 25 130 
    Total commercial lines1,876 383 2,259 74 441 42 557 1,950 441 425 2,816 
  Personal auto384 83 467 12 10 4 26 396 10 87 493 
  Homeowners431 55 486 20 37 6 63 451 37 61 549 
  Other personal117 7 124 15 (1)— 14 132 (1)7 138 
    Total personal lines932 145 1,077 47 46 10 103 979 46 155 1,180 
  Excess & surplus lines108 51 159 70 70 37 177 178 70 88 336 
Other274 15 289 54 214 2 270 328 214 17 559 
      Total property casualty$3,190 $594 $3,784 $245 $771 $91 $1,107 $3,435 $771 $685 $4,891 
Ceded loss and loss expense incurred for the twelve months ended December 31, 2022
  Commercial casualty$— $— $— $10 $1 $— $11 $10 $1 $— $11 
  Commercial property20 — 20 (33)33 1 1 (13)33 1 21 
  Commercial auto1 — 1 — — — — 1 — — 1 
  Workers' compensation10 1 11 (7)(2)— (9)3 (2)1 2 
  Other commercial16 — 16 2 2 — 4 18 2 — 20 
    Total commercial lines47 1 48 (28)34 1 7 19 34 2 55 
  Personal auto2 — 2 — (3)— (3)2 (3)— (1)
  Homeowners4 — 4 (5)14 — 9 (1)14 — 13 
  Other personal— — — — 2 — 2 — 2 — 2 
    Total personal lines6 — 6 (5)13 — 8 1 13 — 14 
  Excess & surplus lines13 1 14 6 1 — 7 19 1 1 21 
Other28 1 29 8 48 — 56 36 48 1 85 
      Total property casualty$94 $3 $97 $(19)$96 $1 $78 $75 $96 $4 $175 
Net loss and loss expense incurred for the twelve months ended December 31, 2022
  Commercial casualty$541 $185 $726 $94 $203 $18 $315 $635 $203 $203 $1,041 
  Commercial property616 65 681 (23)141 7 125 593 141 72 806 
  Commercial auto478 85 563 30 39 6 75 508 39 91 638 
  Workers' compensation117 31 148 (2)19 1 18 115 19 32 166 
  Other commercial77 16 93 3 5 9 17 80 5 25 110 
    Total commercial lines1,829 382 2,211 102 407 41 550 1,931 407 423 2,761 
  Personal auto382 83 465 12 13 4 29 394 13 87 494 
  Homeowners427 55 482 25 23 6 54 452 23 61 536 
  Other personal117 7 124 15 (3)— 12 132 (3)7 136 
    Total personal lines926 145 1,071 52 33 10 95 978 33 155 1,166 
  Excess & surplus lines95 50 145 64 69 37 170 159 69 87 315 
Other246 14 260 46 166 2 214 292 166 16 474 
      Total property casualty$3,096 $591 $3,687 $264 $675 $90 $1,029 $3,360 $675 $681 $4,716 
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
*Other data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Fourth-Quarter 2022 Supplemental Financial Data
13

Consolidated Property Casualty Loss and Loss Expense Analysis
(Dollars in millions)Change inChange inChange inTotalLoss
PaidPaid lossTotalcaseIBNRloss expensechange inCaseIBNRexpenseTotal
lossesexpensepaidreservesreservesreservesreservesincurredincurredincurredincurred
Gross loss and loss expense incurred for the three months ended December 31, 2022
  Commercial casualty$132 $47 $179 $27 $75 $7 $109 $159 $75 $54 $288 
  Commercial property137 16 153 (25)139 (8)106 112 139 8 259 
  Commercial auto120 21 141 17 (3)4 18 137 (3)25 159 
  Workers' compensation29 9 38 (6)— 3 (3)23 — 12 35 
  Other commercial23 4 27 1 3 (2)2 24 3 2 29 
    Total commercial lines441 97 538 14 214 4 232 455 214 101 770 
  Personal auto120 22 142 5 (31)2 (24)125 (31)24 118 
  Homeowners102 15 117 — 33 2 35 102 33 17 152 
  Other personal27 2 29 10 (6)— 4 37 (6)2 33 
    Total personal lines249 39 288 15 (4)4 15 264 (4)43 303 
  Excess & surplus lines24 14 38 6 32 13 51 30 32 27 89 
Other109 4 113 41 (47)1 (5)150 (47)5 108 
      Total property casualty$823 $154 $977 $76 $195 $22 $293 $899 $195 $176 $1,270 
Ceded loss and loss expense incurred for the three months ended December 31, 2022
  Commercial casualty$(3)$— $(3)$23 $1 $— $24 $20 $1 $— $21 
  Commercial property7 — 7 (11)36 1 26 (4)36 1 33 
  Commercial auto— — — — — — — — — — — 
  Workers' compensation2 — 2 (2)(2)— (4)— (2)— (2)
  Other commercial3 — 3 (1)1 — — 2 1 — 3 
    Total commercial lines9 — 9 9 36 1 46 18 36 1 55 
  Personal auto1 — 1 — (2)— (2)1 (2)— (1)
  Homeowners1 — 1 (1)14 — 13 — 14 — 14 
  Other personal— — — — 2 — 2 — 2 — 2 
    Total personal lines2 — 2 (1)14 — 13 1 14 — 15 
  Excess & surplus lines2 — 2 (3)— 1 (2)(1)— 1 — 
Other7 — 7 3 19 — 22 10 19 — 29 
      Total property casualty$20 $— $20 $8 $69 $2 $79 $28 $69 $2 $99 
Net loss and loss expense incurred for the three months ended December 31, 2022
  Commercial casualty$135 $47 $182 $4 $74 $7 $85 $139 $74 $54 $267 
  Commercial property130 16 146 (14)103 (9)80 116 103 7 226 
  Commercial auto120 21 141 17 (3)4 18 137 (3)25 159 
  Workers' compensation27 9 36 (4)2 3 1 23 2 12 37 
  Other commercial20 4 24 2 2 (2)2 22 2 2 26 
    Total commercial lines432 97 529 5 178 3 186 437 178 100 715 
  Personal auto119 22 141 5 (29)2 (22)124 (29)24 119 
  Homeowners101 15 116 1 19 2 22 102 19 17 138 
  Other personal27 2 29 10 (8)— 2 37 (8)2 31 
    Total personal lines247 39 286 16 (18)4 2 263 (18)43 288 
  Excess & surplus lines22 14 36 9 32 12 53 31 32 26 89 
Other102 4 106 38 (66)2 (26)140 (66)6 80 
      Total property casualty$803 $154 $957 $68 $126 $21 $215 $871 $126 $175 $1,172 
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
*Other data includes results from our Cincinnati Re operations and Cincinnati Global.

CINF Fourth-Quarter 2022 Supplemental Financial Data
14

Quarterly Property Casualty Data - Consolidated
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Premiums
   Agency renewal written premiums$1,396 $1,390 $1,482 $1,397 $1,238 $1,244 $1,333 $1,276 $2,879 $2,609 $4,269 $3,853 $5,665 $5,091 
   Agency new business written premiums238 264 286 244 212 230 235 220 530 455 794 685 1,032 897 
   Other written premiums60 96 196 258 84 64 146 197 454 343 550 407 610 491 
   Net written premiums $1,694 $1,750 $1,964 $1,899 $1,534 $1,538 $1,714 $1,693 $3,863 $3,407 $5,613 $4,945 $7,307 $6,479 
   Unearned premium change106 59 (267)(281)65 58 (200)(218)(548)(418)(489)(360)(383)(295)
   Earned premiums$1,800 $1,809 $1,697 $1,618 $1,599 $1,596 $1,514 $1,475 $3,315 $2,989 $5,124 $4,585 $6,924 $6,184 
Year over year change %
   Agency renewal written premiums13 %12 %11 %9 %8 %8 %7 %7 %10 %7 %11 %7 %11 %7 %
   Agency new business written premiums12 15 22 11 15 22 12 2 16 7 16 12 15 12 
   Other written premiums(29)50 34 31 31 25 39 88 32 63 35 56 24 51 
   Net written premiums 10 14 15 12 10 10 10 12 13 11 14 11 13 10 
Paid losses and loss expenses
   Losses paid$803 $804 $755 $733 $718 $612 $649 $564 $1,489 $1,214 $2,293 $1,826 $3,096 $2,543 
   Loss expenses paid154 144 137 157 139 153 118 141 293 258 437 411 591 551 
   Loss and loss expenses paid$957 $948 $892 $890 $857 $765 $767 $705 $1,782 $1,472 $2,730 $2,237 $3,687 $3,094 
Incurred losses and loss expenses
   Loss and loss expense incurred$1,172 $1,348 $1,240 $956 $855 $988 $830 $923 $2,196 $1,753 $3,544 $2,741 $4,716 $3,596 
   Loss and loss expenses paid as a % of incurred81.7 %70.3 %71.9 %93.1 %100.2 %77.4 %92.4 %76.4 %81.1 %84.0 %77.0 %81.6 %78.2 %86.0 %
Statutory combined ratio
   Loss ratio56.3 %64.1 %64.8 %48.4 %42.6 %51.3 %47.0 %52.0 %56.7 %49.4 %59.3 %50.1 %58.5 %48.2 %
   Loss adjustment expense ratio9.9 10.0 9.5 10.9 10.9 10.1 8.9 11.0 10.2 10.0 10.1 10.0 10.1 10.2 
   Net underwriting expense ratio30.6 29.3 28.1 28.7 31.5 31.1 29.2 26.7 28.4 28.0 28.7 28.9 29.1 29.5 
   US Statutory combined ratio96.8 %103.4 %102.4 %88.0 %85.0 %92.5 %85.1 %89.7 %95.3 %87.4 %98.1 %89.0 %97.7 %87.9 %
   Contribution from catastrophe losses7.6 13.0 13.0 1.7 2.8 12.9 4.6 10.1 7.5 7.3 9.4 9.2 8.9 7.6 
   Statutory combined ratio excl. catastrophe losses89.2 %90.4 %89.4 %86.3 %82.2 %79.6 %80.5 %79.6 %87.8 %80.1 %88.7 %79.8 %88.8 %80.3 %
GAAP combined ratio
   GAAP combined ratio94.9 %103.9 %103.2 %89.9 %84.2 %92.6 %85.5 %91.2 %96.7 %88.3 %99.2 %89.8 %98.1 %88.3 %
   Contribution from catastrophe losses7.8 13.9 12.4 1.8 3.6 14.2 3.9 10.4 7.2 7.1 9.5 9.6 9.2 8.0 
   GAAP combined ratio excl. catastrophe losses87.1 %90.0 %90.8 %88.1 %80.6 %78.4 %81.6 %80.8 %89.5 %81.2 %89.7 %80.2 %88.9 %80.3 %
*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.
*nm - Not meaningful
*Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies. Statutory ratios exclude the results of Cincinnati Global.
*Consolidated property casualty data includes the results of Cincinnati Re and Cincinnati Global.


CINF Fourth-Quarter 2022 Supplemental Financial Data
15

Quarterly Property Casualty Data - Commercial Lines
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Premiums
   Agency renewal written premiums$908 $860 $934 $970 $809 $775 $852 $898 $1,904 $1,750 $2,764 $2,525 $3,672 $3,334 
   Agency new business written premiums130 149 165 156 135 145 146 145 321 291 470 436 600 571 
   Other written premiums(31)(25)(27)(30)(24)(25)(21)(24)(57)(45)(82)(70)(113)(94)
   Net written premiums$1,007 $984 $1,072 $1,096 $920 $895 $977 $1,019 $2,168 $1,996 $3,152 $2,891 $4,159 $3,811 
   Unearned premium change33 44 (78)(134)27 35 (66)(133)(212)(199)(168)(164)(135)(137)
   Earned premiums$1,040 $1,028 $994 $962 $947 $930 $911 $886 $1,956 $1,797 $2,984 $2,727 $4,024 $3,674 
Year over year change %
   Agency renewal written premiums12 %11 %10 %8 %7 %7 %7 %7 %9 %7 %9 %7 %10 %7 %
   Agency new business written premiums(4)3 13 8 19 27 9 (6)10 1 8 8 5 11 
   Other written premiums(29)— (29)(25)25 7 (5)— (27)(2)(17)1 (20)9 
   Net written premiums9 10 10 8 10 10 8 5 9 6 9 7 9 8 
Paid losses and loss expenses
   Losses paid$432 $491 $446 $458 $396 $328 $391 $330 $905 $720 $1,396 $1,049 $1,829 $1,445 
   Loss expenses paid97 93 91 100 89 98 78 96 191 174 285 272 382 361 
   Loss and loss expenses paid$529 $584 $537 $558 $485 $426 $469 $426 $1,096 $894 $1,681 $1,321 $2,211 $1,806 
Incurred losses and loss expenses
   Loss and loss expense incurred$715 $710 $750 $586 $506 $451 $480 $503 $1,336 $983 $2,046 $1,434 $2,761 $1,940 
   Loss and loss expenses paid as a % of incurred74.0 %82.3 %71.6 %95.2 %95.8 %94.5 %97.7 %84.7 %82.0 %90.9 %82.2 %92.1 %80.1 %93.1 %
Statutory combined ratio
   Loss ratio59.2 %58.4 %65.5 %48.9 %41.4 %38.5 %43.9 %44.3 %57.4 %44.1 %57.8 %42.2 %58.1 %42.0 %
   Loss adjustment expense ratio9.6 10.7 9.9 12.0 12.0 10.0 8.8 12.4 10.9 10.6 10.8 10.4 10.5 10.8 
   Net underwriting expense ratio31.3 31.2 29.1 28.3 32.7 33.2 29.9 26.2 28.7 28.0 29.5 29.6 29.9 30.4 
   Statutory combined ratio100.1 %100.3 %104.5 %89.2 %86.1 %81.7 %82.6 %82.9 %97.0 %82.7 %98.1 %82.2 %98.5 %83.2 %
   Contribution from catastrophe losses9.6 4.5 12.6 1.4 2.7 3.3 3.2 4.2 7.1 3.7 6.2 3.6 7.0 3.4 
   Statutory combined ratio excl. catastrophe losses90.5 %95.8 %91.9 %87.8 %83.4 %78.4 %79.4 %78.7 %89.9 %79.0 %91.9 %78.6 %91.5 %79.8 %
GAAP combined ratio
   GAAP combined ratio98.9 %99.0 %106.3 %92.3 %85.2 %80.6 %84.2 %85.4 %99.4 %84.8 %99.3 %83.4 %99.2 %83.8 %
   Contribution from catastrophe losses9.6 4.5 12.6 1.4 2.7 3.3 3.2 4.2 7.1 3.7 6.2 3.6 7.0 3.4 
   GAAP combined ratio excl. catastrophe losses89.3 %94.5 %93.7 %90.9 %82.5 %77.3 %81.0 %81.2 %92.3 %81.1 %93.1 %79.8 %92.2 %80.4 %
*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.
*nm - Not meaningful
*Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Fourth-Quarter 2022 Supplemental Financial Data
16

Quarterly Property Casualty Data - Personal Lines
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Premiums
   Agency renewal written premiums$393 $437 $438 $333 $342 $393 $397 $302 $771 $699 $1,208 $1,092 $1,601 $1,434 
   Agency new business written premiums75 81 88 52 50 53 53 46 140 99 221 152 296 202 
   Other written premiums(23)(16)(16)(11)(10)(11)(11)(10)(27)(21)(43)(32)(66)(42)
   Net written premiums$445 $502 $510 $374 $382 $435 $439 $338 $884 $777 $1,386 $1,212 $1,831 $1,594 
   Unearned premium change(2)(71)(97)28 14 (47)(57)38 (69)(19)(140)(66)(142)(52)
   Earned premiums$443 $431 $413 $402 $396 $388 $382 $376 $815 $758 $1,246 $1,146 $1,689 $1,542 
Year over year change %
   Agency renewal written premiums15 %11 %10 %10 %8 %7 %3 %3 %10 %3 %11 %4 %12 %5 %
   Agency new business written premiums50 53 66 13 11 4 20 35 41 27 45 18 47 16 
   Other written premiums(130)(45)(45)(10)(25)(10)(38)(11)(29)(24)(34)(19)(57)(20)
   Net written premiums16 15 16 11 8 7 4 6 14 5 14 5 15 6 
Paid losses and loss expenses
   Losses paid$247 $246 $224 $208 $212 $208 $198 $162 $432 $360 $679 $568 $926 $780 
   Loss expenses paid39 35 32 40 34 40 29 32 71 60 106 100 145 134 
   Loss and loss expenses paid$286 $281 $256 $248 $246 $248 $227 $194 $503 $420 $785 $668 $1,071 $914 
Incurred losses and loss expenses
   Loss and loss expense incurred$288 $324 $339 $215 $197 $281 $241 $273 $554 $514 $878 $795 $1,166 $992 
   Loss and loss expenses paid as a % of incurred99.3 %86.7 %75.5 %115.3 %124.9 %88.3 %94.2 %71.1 %90.8 %81.7 %89.4 %84.0 %91.9 %92.1 %
Statutory combined ratio
   Loss ratio55.3 %65.6 %73.7 %44.5 %42.0 %62.6 %54.1 %65.9 %59.3 %60.0 %61.5 %60.9 %59.9 %56.0 %
   Loss adjustment expense ratio9.7 9.6 8.4 9.0 7.9 9.7 8.9 6.7 8.7 7.8 9.0 8.5 9.2 8.4 
   Net underwriting expense ratio30.6 26.7 26.4 32.2 30.9 28.2 27.2 30.7 28.8 28.7 28.0 28.5 28.6 29.1 
   Statutory combined ratio95.6 %101.9 %108.5 %85.7 %80.8 %100.5 %90.2 %103.3 %96.8 %96.5 %98.5 %97.9 %97.7 %93.5 %
   Contribution from catastrophe losses8.7 15.9 19.1 1.7 4.6 20.0 10.6 19.8 10.5 15.2 12.4 16.8 11.4 13.7 
   Statutory combined ratio excl. catastrophe losses86.9 %86.0 %89.4 %84.0 %76.2 %80.5 %79.6 %83.5 %86.3 %81.3 %86.1 %81.1 %86.3 %79.8 %
GAAP combined ratio
   GAAP combined ratio95.7 %104.5 %112.1 %83.9 %80.0 %102.7 %92.7 %101.1 %98.2 %96.8 %100.4 %98.8 %99.2 %94.0 %
   Contribution from catastrophe losses8.7 15.9 19.1 1.7 4.6 20.0 10.6 19.8 10.5 15.2 12.4 16.8 11.4 13.7 
   GAAP combined ratio excl. catastrophe losses87.0 %88.6 %93.0 %82.2 %75.4 %82.7 %82.1 %81.3 %87.7 %81.6 %88.0 %82.0 %87.8 %80.3 %
*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.
*nm - Not meaningful
*Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Fourth-Quarter 2022 Supplemental Financial Data
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Quarterly Property Casualty Data - Excess & Surplus Lines
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Premiums
   Agency renewal written premiums$95 $93 $110 $94 $87 $76 $84 $76 $204 $160 $297 $236 $392 $323 
   Agency new business written premiums33 34 33 36 27 32 36 29 69 65 103 97 136 124 
   Other written premiums(6)(6)(8)(6)(6)(4)(5)(6)(14)(11)(20)(15)(26)(21)
   Net written premiums$122 $121 $135 $124 $108 $104 $115 $99 $259 $214 $380 $318 $502 $426 
   Unearned premium change2 4 (11)(12)1 1 (20)(10)(23)(30)(19)(29)(17)(28)
   Earned premiums$124 $125 $124 $112 $109 $105 $95 $89 $236 $184 $361 $289 $485 $398 
Year over year change %
   Agency renewal written premiums9 %22 %31 %24 %26 %27 %33 %23 %28 %28 %26 %28 %21 %27 %
   Agency new business written premiums22 6 (8)24 — 33 13 7 6 10 6 17 10 13 
   Other written premiums— (50)(60)— (50)— (25)(50)(27)(38)(33)(25)(24)(31)
   Net written premiums13 16 17 25 17 30 26 16 21 22 19 24 18 22 
Paid losses and loss expenses
   Losses paid$22 $29 $27 $19 $17 $18 $19 $21 $46 $40 $74 $59 $95 $75 
   Loss expenses paid14 13 11 12 12 12 8 11 24 19 36 31 50 43 
   Loss and loss expenses paid$36 $42 $38 $31 $29 $30 $27 $32 $70 $59 $110 $90 $145 $118 
Incurred losses and loss expenses
   Loss and loss expense incurred$89 $86 $74 $66 $63 $70 $58 $59 $140 $117 $226 $187 $315 $250 
   Loss and loss expenses paid as a % of incurred40.4 %48.8 %51.4 %47.0 %46.0 %42.9 %46.6 %54.2 %50.0 %50.4 %48.7 %48.1 %46.0 %47.2 %
Statutory combined ratio
   Loss ratio50.5 %51.9 %41.5 %43.0 %39.3 %45.1 %45.0 %43.1 %42.2 %44.1 %45.6 %44.5 %46.8 %43.0 %
   Loss adjustment expense ratio21.1 16.5 18.7 15.2 18.8 21.0 16.0 23.6 17.1 19.6 16.9 20.1 18.0 19.8 
   Net underwriting expense ratio27.1 27.5 26.1 27.1 27.7 29.7 31.1 26.4 26.5 29.0 26.8 29.2 26.9 28.8 
   Statutory combined ratio98.7 %95.9 %86.3 %85.3 %85.8 %95.8 %92.1 %93.1 %85.8 %92.7 %89.3 %93.8 %91.7 %91.6 %
   Contribution from catastrophe losses1.4 (0.5)1.1 1.1 0.9 0.3 0.5 1.0 1.1 0.7 0.6 0.6 0.8 0.6 
   Statutory combined ratio excl. catastrophe losses97.3 %96.4 %85.2 %84.2 %84.9 %95.5 %91.6 %92.1 %84.7 %92.0 %88.7 %93.2 %90.9 %91.0 %
GAAP combined ratio
   GAAP combined ratio96.3 %93.9 %85.1 %85.9 %83.2 %94.1 %89.5 %92.0 %85.5 %90.7 %88.4 %91.9 %90.4 %89.5 %
   Contribution from catastrophe losses1.4 (0.5)1.1 1.1 0.9 0.3 0.5 1.0 1.1 0.7 0.6 0.6 0.8 0.6 
   GAAP combined ratio excl. catastrophe losses94.9 %94.4 %84.0 %84.8 %82.3 %93.8 %89.0 %91.0 %84.4 %90.0 %87.8 %91.3 %89.6 %88.9 %
*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.
*nm - Not meaningful
*Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

CINF Fourth-Quarter 2022 Supplemental Financial Data
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Consolidated Cincinnati Insurance Companies
Statutory Statements of Income
For the Three Months Ended December 31,For the Twelve Months Ended December 31,
(Dollars in millions)20222021Change% Change20222021Change% Change
Underwriting income
Net premiums written$1,641 $1,482 $159 11 $7,077 $6,292 $785 12 
Unearned premium change(103)(72)(31)43 359 286 73 26 
Earned premiums$1,744 $1,554 $190 12 $6,718 $6,006 $712 12 
Losses incurred$983 $661 $322 49 $3,931 $2,891 $1,040 36 
Defense and cost containment expenses incurred78 83 (5)(6)303 293 10 3 
Adjusting and other expenses incurred96 86 10 12 375 322 53 16 
Other underwriting expenses incurred500 465 35 8 2,054 1,852 202 11 
Workers compensation dividend incurred1 2 (1)(50)6 5 1 20 
Total underwriting deductions$1,658 $1,297 $361 28 $6,669 $5,363 $1,306 24 
Net underwriting profit $86 $257 $(171)(67)$49 $643 $(594)(92)
Investment income
Gross investment income earned$133 $150 $(17)(11)$511 $493 $18 4 
Net investment income earned130 147 (17)(12)500 484 16 3 
Realized capital gains and losses, net8 1 7 nm49 9 40 444 
Net investment gains $138 $148 $(10)(7)$549 $493 $56 11 
Other income$2 $1 $1 100 $7 $5 $2 40 
Net income before federal income taxes$226 $406 $(180)(44)$605 $1,141 $(536)(47)
Federal and foreign income taxes incurred38 71 (33)(46)59 206 (147)(71)
Net income (statutory)$188 $335 $(147)(44)$546 $935 $(389)(42)
Policyholders' surplus - statutory**$6,509 $7,247 $(738)(10)$6,509 $7,247 $(738)(10)
Fixed maturities at amortized cost - statutory$8,753 $8,204 $549 7 $8,753 $8,204 $549 7 
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
*nm - Not meaningful
*Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.
**Current year policyholders' surplus amount subject to change.

CINF Fourth-Quarter 2022 Supplemental Financial Data
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The Cincinnati Life Insurance Company
Statutory Statements of Income
For the Three Months Ended December 31,For the Twelve Months Ended December 31,
(Dollars in millions)20222021Change% Change20222021Change% Change
Net premiums written$85 $87 $(2)(2)$335 $342 $(7)(2)
Net investment income44 46 (2)(4)174 181 (7)(4)
Amortization of interest maintenance reserve— 1 (1)(100)— 3 (3)(100)
Commissions and expense allowances on reinsurance ceded2 2 — — 5 5 — — 
Income from fees associated with separate accounts— 1 (1)(100)4 3 1 33 
Total revenues$131 $137 $(6)(4)$518 $534 $(16)(3)
Death benefits and matured endowments$41 $53 $(12)(23)$172 $182 $(10)(5)
Annuity benefits31 20 11 55 80 66 14 21 
Disability benefits and benefits under accident and health contracts1 1 — — 2 2 — — 
Surrender benefits and group conversions5 6 (1)(17)24 26 (2)(8)
Interest and adjustments on deposit-type contract funds1 1 — — 6 6 — — 
Increase in aggregate reserves for life and accident and health contracts7 17 (10)(59)52 93 (41)(44)
Total benefit expenses$86 $98 $(12)(12)$336 $375 $(39)(10)
Commissions$12 $13 $(1)(8)$50 $50 $— — 
General insurance expenses and taxes14 13 1 8 55 53 2 4 
Increase in loading on deferred and uncollected premiums1 — 1 nm2 5 (3)(60)
Net transfers from Separate Accounts(5)(3)(2)(67)(15)(6)(9)(150)
Total underwriting expenses$22 $23 $(1)(4)$92 $102 $(10)(10)
Federal and foreign income tax provision 7 5 2 40 24 17 7 41 
Net gain from operations before capital gains or losses$16 $11 $5 45 $66 $40 $26 65 
Gains and losses net of capital gains tax, net(1)— (1)nm(2)1 (3)nm
Net income - statutory$15 $11 $4 36 $64 $41 $23 56 
Policyholders' surplus - statutory**$326 $270 $56 21 $326 $270 $56 21 
Fixed maturities at amortized cost - statutory$3,838 $3,733 $105 3 $3,838 $3,733 $105 3 
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.
*nm - Not meaningful
*Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.
**Current year policyholders' surplus amount subject to change.

    
CINF Fourth-Quarter 2022 Supplemental Financial Data
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Quarterly Data - Other
(Dollars in millions)Three months endedSix months endedNine months endedTwelve months ended
12/31/229/30/226/30/223/31/2212/31/219/30/216/30/213/31/216/30/226/30/219/30/229/30/2112/31/2212/31/21
Cincinnati Re:
Written premiums$67 $86 $178 $254 $72 $57 $136 $196 $432 $332 $518 $389 $585 $461 
Year over year change %- written premium(7)%51 %31 %30 %22 %6 %62 %87 %30 %76 %33 %61 %27 %53 %
Earned premiums$137 $151 $122 $110 $102 $104 $94 $92 $232 $186 $383 $290 $520 $392 
Current accident year before catastrophe losses44.4 %45.4 %49.6 %50.6 %61.7 %52.8 %48.5 %42.1 %50.0 %45.4 %48.3 %48.0 %47.2 %51.6 %
Current accident year catastrophe losses(5.2)75.0 6.5 — (1.7)78.6 (1.7)35.4 3.4 16.7 31.7 39.0 21.9 28.3 
Prior accident years before catastrophe losses6.9 (9.9)(4.8)10.9 2.4 (6.8)6.4 3.0 2.6 4.7 (2.4)0.6 0.1 1.1 
Prior accident years catastrophe losses0.7 (0.6)1.1 5.2 0.3 6.4 (0.1)— 3.1 (0.1)1.6 2.2 1.4 1.7 
Total loss and loss expense ratio46.8 %109.9 %52.4 %66.7 %62.7 %131.0 %53.1 %80.5 %59.1 %66.7 %79.2 %89.8 %70.6 %82.7 %
Cincinnati Global:
Written premiums$53 $57 $69 $51 $52 $47 $47 $41 $120 $88 $177 $135 $230 $187 
Year over year change %- written premium2 %21 %47 %24 %6 %24 %(11)%11 %36 %(2)%31 %5 %23 %6 %
Earned premiums$56 $74 $44 $32 $45 $69 $32 $32 $76 $64 $150 $133 $206 $178 
Current accident year before catastrophe losses28.6 %45.6 %53.2 %38.3 %39.4 %35.3 %54.4 %30.9 %47.0 %42.9 %46.3 %39.0 %41.4 %39.1 %
Current accident year catastrophe losses1.4 48.6 0.1 16.3 33.6 30.3 27.5 55.8 6.9 41.3 27.6 35.7 20.5 35.1 
Prior accident years before catastrophe losses(13.3)4.6 (15.4)4.1 (16.9)(4.7)(23.4)(12.0)(7.2)(17.8)(1.4)(11.1)(4.6)(12.5)
Prior accident years catastrophe losses11.6 (14.5)(9.7)(9.0)(2.0)12.2 (54.0)(31.0)(9.4)(42.7)(11.9)(14.4)(5.5)(11.2)
Total loss and loss expense ratio28.3 %84.3 %28.2 %49.7 %54.1 %73.1 %4.5 %43.7 %37.3 %23.7 %60.6 %49.2 %51.8 %50.5 %
Noninsurance operations:
Interest and fees on loans and leases$2 $2 $2 $1 $2 $2 $2 $1 $3 $3 $5 $5 $7 $7 
Other revenue1 — 1 1 — 1 1 1 2 2 2 3 3 3 
Interest expense13 14 13 13 14 13 13 13 26 26 40 39 53 53 
Operating expense10 4 5 4 6 5 5 4 9 9 13 14 23 20 
Total noninsurance operations loss$(20)$(16)$(15)$(15)$(18)$(15)$(15)$(15)$(30)$(30)$(46)$(45)$(66)$(63)
*Dollar amounts shown are in conformity with GAAP and 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.
*Noninsurance operations include the noninvestment operations of the parent company and a noninsurance subsidiary, CFC Investment Company.

CINF Fourth-Quarter 2022 Supplemental Financial Data
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