Description

Cincinnati Financial’s 90.5% E&S Combined Ratio Signals A Powerful Growth Pocket!

Cincinnati Financial Corporation reported second-quarter 2026 net income of nearly $1.3 billion, supported by an $882 million after-tax increase in the fair value of equity securities. Non-GAAP operating income was $224 million, down from $311 million a year earlier. The property casualty combined ratio increased to 100.8%, partly because catastrophe losses rose by 2.3 points. Excluding catastrophes, the current accident year combined ratio remained stable at 87.8%. Net written premiums increased 3% year-over-year as Cincinnati Financial maintained pricing and underwriting discipline amid a softer property casualty market. Renewal pricing moderated from the first quarter but remained positive. Commercial and excess and surplus lines recorded low single-digit increases, while personal lines pricing rose at a high single-digit rate. Commercial lines premiums increased 3%, while the combined ratio rose to 104.1% due to higher catastrophe losses. Personal lines premiums grew 1%, with the combined ratio improving to 99.9%.