Cincinnati Financial
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NWP rose just under 15% at the commercial lines focused company as commercial lines rates rose in the mid-single digits. -
The sector was hit by a rough first half of 2022, with more to come in the second half of the year.
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Investments VP Steven Soloria will take on executive responsibility for CinFin’s investment operations, when Martin Hollenbeck retires.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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A surge in large losses in property book during first quarter may be partly due to inflation, not expected to linger.
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The underlying CoR, however, rose by 3.1 points to 89.3% in the first quarter.
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The company’s combined ratio improved to 84.2% for Q4 2021 from 87.3% for Q4 2020.
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Cincinnati Financial’s book value leaped 22% in 2021 on solid underwriting gains, strong investment results.
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The Ohio-based carrier announced the new board appointments as part of a senior management reshuffle, in which five executives were promoted to senior vice presidents.
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The Inside P&C research team looks forward to the big issues of the new year.
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Renewal pricing in Q3 continued to be ahead of the company’s estimate for prospective loss cost trends for each P&C segment, CinFin CEO Steve Johnston said.
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Strong underwriting profit in commercial lines and lower catastrophe losses drive Cincinnati Financial’s Q3 results.
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