EX-99.2 3 exhibit9923q25.htm EX-99.2

Cincinnati Financial Corporation

Supplemental Financial Data

for the period ending September 30, 2025

6200 South Gilmore Road

Fairfield, Ohio 45014-5141

cinfin.com

Investor Contact:			Media Contact:			Shareholder Contact:
Dennis E. McDaniel			Betsy E. Ertel			Brandon McIntosh
513-870-2768			513-603-5323			513-870-2696

A.M. Best Company

Fitch Ratings

Moody's Investor Service

S&P Global Ratings

Cincinnati Financial Corporation

Corporate Debt

a

A

A3

BBB+

The Cincinnati Insurance Companies

Insurer Financial Strength

Property Casualty Group

Standard Market Subsidiaries:

A+

AA-

A1

A+

The Cincinnati Insurance Company

A+

AA-

A1

A+

The Cincinnati Indemnity Company

A+

AA-

A1

A+

The Cincinnati Casualty Company

A+

AA-

A1

A+

Surplus Lines Subsidiary:

The Cincinnati Specialty Underwriters Insurance Company

A+

—

—

—

The Cincinnati Life Insurance Company

A+

AA-

—

A+

Ratings are as of October 24, 2025, under continuous review and subject to change and/or affirmation. For the current ratings, select Financial Strength under About 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 Third-Quarter 2025 Supplemental Financial Data

1

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			Cincinnati Financial Corporation
			Supplemental Financial Data
			for the period ending September 30, 2025
						Page
			Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures			3
Consolidated
			CFC and Subsidiaries Consolidation – Nine Months Ended September 30, 2025			4
			CFC and Subsidiaries Consolidation – Three Months Ended September 30, 2025			5
Consolidated Property Casualty Insurance Operations
			Losses Incurred Detail			6
			Loss Ratio Detail			7
			Loss Claim Count Detail			8
			Quarterly Property Casualty Data – Commercial Lines			9
			Quarterly Property Casualty Data – Personal Lines and Excess & Surplus Lines			10
			Loss and Loss Expense Analysis – Nine Months Ended September 30, 2025			11
			Loss and Loss Expense Analysis – Three Months Ended September 30, 2025			12
Reconciliation Data
			Quarterly Property Casualty Data – Consolidated			13
			Quarterly Property Casualty Data – Commercial Lines			14
			Quarterly Property Casualty Data – Personal Lines			15
			Quarterly Property Casualty Data – Excess & Surplus Lines			16
Statutory Statements of Income
			Consolidated Cincinnati Insurance Companies Statutory Statements of Income			17
			The Cincinnati Life Insurance Company Statutory Statements of Income			18
Other
			Quarterly Data – Other			19

CINF Third-Quarter 2025 Supplemental Financial Data

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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 Third-Quarter 2025 Supplemental Financial Data

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Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Nine Months Ended September 30, 2025
(Dollars in millions)			CFC			CONSOL P&C			CLIC			CFC-I			ELIM			Total
Revenues
Premiums earned:
Property casualty			$	—		$	7,534		$	—		$	—		$	—		$	7,534
Life			—			—			307			—			—			307
Premiums ceded			—			(389)			(61)			—			—			(450)
Total earned premium			—			7,145			246			—			—			7,391
Investment income, net of expenses			84			627			151			—			(2)			860
Investment gains and losses, net			420			845			(6)			—			—			1,259
Fee revenues			—			11			4			—			—			15
Other revenues			12			10			—			8			(15)			15
Total revenues			$	516		$	8,638		$	395		$	8		$	(17)		$	9,540
Benefits & expenses
Losses & contract holders' benefits			$	—		$	5,470		$	289		$	—		$	1		$	5,760
Reinsurance recoveries			—			(532)			(59)			—			(1)			(592)
Underwriting, acquisition and insurance expenses			—			2,095			70			—			—			2,165
Interest expense			39			—			—			3			(2)			40
Other operating expenses			33			5			—			4			(15)			27
Total expenses			$	72		$	7,038		$	300		$	7		$	(17)		$	7,400
Income before income taxes			$	444		$	1,600		$	95		$	1		$	—		$	2,140
Provision (benefit) for income taxes
Current operating income (loss)			$	(74)		$	(53)		$	28		$	—		$	—		$	(99)
Capital gains/losses			89			178			(1)			—			—			266
Deferred			77			186			(7)			—			—			256
Total provision for income taxes			$	92		$	311		$	20		$	—		$	—		$	423
Net income - current year			$	352		$	1,289		$	75		$	1		$	—		$	1,717
Net income - prior year			$	502		$	1,321		$	63		$	1		$	—		$	1,887
*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 Third-Quarter 2025 Supplemental Financial Data

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Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended September 30, 2025
(Dollars in millions)			CFC			CONSOL P&C			CLIC			CFC-I			ELIM			Total
Revenues
Premiums earned:
Property casualty			$	—		$	2,602		$	—		$	—		$	—		$	2,602
Life			—			—			104			—			—			104
Premiums ceded			—			(118)			(21)			—			—			(139)
Total earned premium			—			2,484			83			—			—			2,567
Investment income, net of expenses			26			217			52			—			—			295
Investment gains and losses, net			322			532			(1)			—			—			853
Fee revenues			—			4			1			—			—			5
Other revenues			4			5			—			3			(6)			6
Total revenues			$	352		$	3,242		$	135		$	3		$	(6)		$	3,726
Benefits & expenses
Losses & contract holders' benefits			$	—		$	1,486		$	91		$	—		$	—		$	1,577
Reinsurance recoveries			—			(22)			(15)			—			—			(37)
Underwriting, acquisition and insurance expenses			—			731			23			—			—			754
Interest expense			13			—			—			1			(1)			13
Other operating expenses			7			2			—			2			(5)			6
Total expenses			$	20		$	2,197		$	99		$	3		$	(6)		$	2,313
Income before income taxes			$	332		$	1,045		$	36		$	—		$	—		$	1,413
Provision (benefit) for income taxes
Current operating income (loss)			$	(54)		$	(9)		$	10		$	—		$	—		$	(53)
Capital gains/losses			68			113			—			—			—			181
Deferred			55			110			(2)			—			—			163
Total provision for income taxes			$	69		$	214		$	8		$	—		$	—		$	291
Net income - current year			$	263		$	831		$	28		$	—		$	—		$	1,122
Net income - prior year			$	279		$	520		$	20		$	1		$	—		$	820
*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 Third-Quarter 2025 Supplemental Financial Data

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Consolidated Property Casualty
Losses Incurred Detail
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Consolidated
Current accident year losses greater than $5 million						$	48		$	15		$	26		$	19		$	18		$	31		$	—		$	41		$	31		$	89		$	49					$	68
Current accident year losses $2 million - $5 million						35			40			20			37			51			28			22			60			50			95			101						138
Large loss prior accident year reserve development						49			27			56			19			19			15			22			83			37			132			56						75
Total large losses incurred						$	132		$	82		$	102		$	75		$	88		$	74		$	44		$	184		$	118		$	316		$	206					$	281
Losses incurred but not reported						158			213			279			182			185			165			251			492			416			650			601						783
Other losses excluding catastrophe losses						831			741			688			653			711			741			677			1,429			1,418			2,260			2,129						2,782
Catastrophe losses						83			280			558			83			282			228			111			838			339			921			621						704
Total losses incurred						$	1,204		$	1,316		$	1,627		$	993		$	1,266		$	1,208		$	1,083		$	2,943		$	2,291		$	4,147		$	3,557					$	4,550
Commercial Lines
Current accident year losses greater than $5 million						$	48		$	5		$	7		$	9		$	11		$	31		$	—		$	12		$	31		$	60		$	42					$	51
Current accident year losses $2 million - $5 million						12			22			15			12			36			11			11			37			22			49			58						70
Large loss prior accident year reserve development						47			14			44			19			20			22			12			58			34			105			54						73
Total large losses incurred						$	107		$	41		$	66		$	40		$	67		$	64		$	23		$	107		$	87		$	214		$	154					$	194
Losses incurred but not reported						67			106			163			105			117			92			156			269			248			336			365						470
Other losses excluding catastrophe losses						405			383			318			328			337			384			368			701			752			1,106			1,089						1,417
Catastrophe losses						29			83			40			8			58			101			64			123			165			152			223						231
Total losses incurred						$	608		$	613		$	587		$	481		$	579		$	641		$	611		$	1,200		$	1,252		$	1,808		$	1,831					$	2,312
Personal Lines
Current accident year losses greater than $5 million						$	—		$	10		$	19		$	10		$	7		$	—		$	—		$	29		$	—		$	29		$	7					$	17
Current accident year losses $2 million - $5 million						23			18			5			25			13			15			11			23			26			46			39						64
Large loss prior accident year reserve development						2			13			12			—			(1)			(7)			10			25			3			27			2						2
Total large losses incurred						$	25		$	41		$	36		$	35		$	19		$	8		$	21		$	77		$	29		$	102		$	48					$	83
Losses incurred but not reported						32			37			74			22			33			31			22			111			53			143			86						108
Other losses excluding catastrophe losses						316			257			254			245			256			256			231			511			487			827			743						988
Catastrophe losses						54			186			405			(4)			178			129			50			591			179			645			357						353
Total losses incurred						$	427		$	521		$	769		$	298		$	486		$	424		$	324		$	1,290		$	748		$	1,717		$	1,234					$	1,532
Excess & Surplus Lines
Current accident year losses greater than $5 million						$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—					$	—
Current accident year losses $2 million - $5 million						—			—			—			—			2			2			—			—			2			—			4						4
Large loss prior accident year reserve development						—			—			—			—			—			—			—			—			—			—			—						—
Total large losses incurred						$	—		$	—		$	—		$	—		$	2		$	2		$	—		$	—		$	2		$	—		$	4					$	4
Losses incurred but not reported						16			31			46			28			12			17			30			77			47			93			59						87
Other losses excluding catastrophe losses						59			42			24			46			55			51			37			66			88			125			143						189
Catastrophe losses						—			3			—			2			2			3			1			3			4			3			6						8
Total losses incurred						$	75		$	76		$	70		$	76		$	71		$	73		$	68		$	146		$	141		$	221		$	212					$	288
*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.

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Consolidated Property Casualty
Loss Ratio Detail
			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Consolidated
Current accident year losses greater than $5 million						1.9		%	0.6		%	1.2		%	0.8		%	0.9		%	1.5		%	—		%	0.9		%	0.8		%	1.3		%	0.8		%				0.8		%
Current accident year losses $2 million - $5 million						1.4			1.7			0.9			1.5			2.3			1.4			1.1			1.3			1.2			1.3			1.6						1.6
Large loss prior accident year reserve development						2.0			1.1			2.4			0.9			0.8			0.7			1.1			1.8			0.9			1.8			0.9						0.9
Total large loss ratio						5.3		%	3.4		%	4.5		%	3.2		%	4.0		%	3.6		%	2.2		%	4.0		%	2.9		%	4.4		%	3.3		%				3.3		%
Losses incurred but not reported						6.4			8.9			12.3			8.0			8.4			8.0			12.6			10.5			10.2			9.1			9.6						9.1
Other losses excluding catastrophe losses						33.4			30.9			30.4			28.7			32.0			35.6			34.0			30.6			34.9			31.6			33.8						32.5
Catastrophe losses						3.4			11.7			24.6			3.6			12.7			11.0			5.6			18.0			8.3			12.9			9.9						8.2
Total loss ratio						48.5		%	54.9		%	71.8		%	43.5		%	57.1		%	58.2		%	54.4		%	63.1		%	56.3		%	58.0		%	56.6		%				53.1		%
Commercial Lines
Current accident year losses greater than $5 million						3.9		%	0.5		%	0.6		%	0.8		%	1.0		%	2.8		%	—		%	0.5		%	1.4		%	1.7		%	1.3		%				1.1		%
Current accident year losses $2 million - $5 million						1.0			1.8			1.2			1.0			3.2			1.0			1.0			1.5			1.0			1.3			1.7						1.5
Large loss prior accident year reserve development						3.8			1.2			3.8			1.6			1.7			2.0			1.1			2.5			1.6			2.9			1.6						1.7
Total large loss ratio						8.7		%	3.5		%	5.6		%	3.4		%	5.9		%	5.8		%	2.1		%	4.5		%	4.0		%	5.9		%	4.6		%				4.3		%
Losses incurred but not reported						5.4			8.7			13.9			9.1			10.3			8.3			14.4			11.3			11.3			9.3			11.0						10.5
Other losses excluding catastrophe losses						33.0			31.6			26.8			28.2			29.7			34.6			34.0			29.3			34.3			30.5			32.8						31.5
Catastrophe losses						2.4			6.8			3.4			0.7			5.1			9.1			6.0			5.1			7.6			4.2			6.7						5.2
Total loss ratio						49.5		%	50.6		%	49.7		%	41.4		%	51.0		%	57.8		%	56.5		%	50.2		%	57.2		%	49.9		%	55.1		%				51.5		%
Personal Lines
Current accident year losses greater than $5 million						—		%	1.3		%	2.8		%	1.4		%	1.1		%	—		%	—		%	2.0		%	—		%	1.3		%	0.4		%				0.7		%
Current accident year losses $2 million - $5 million						2.9			2.2			0.7			3.4			2.0			2.4			1.8			1.5			2.1			2.0			2.1						2.4
Large loss prior accident year reserve development						0.2			1.5			1.8			—			(0.2)			(1.1)			1.8			1.6			0.3			1.1			0.1						0.1
Total large loss ratio						3.1		%	5.0		%	5.3		%	4.8		%	2.9		%	1.3		%	3.6		%	5.1		%	2.4		%	4.4		%	2.6		%				3.2		%
Losses incurred but not reported						3.8			4.7			10.5			3.0			5.0			4.8			3.8			7.4			4.3			6.1			4.6						4.1
Other losses excluding catastrophe losses						37.5			32.0			36.4			33.7			37.6			40.5			39.4			34.1			39.9			35.4			39.0						37.6
Catastrophe losses						6.5			23.1			57.9			(0.4)			26.2			20.5			8.4			39.3			14.7			27.5			18.8						13.5
Total loss ratio						50.9		%	64.8		%	110.1		%	41.1		%	71.7		%	67.1		%	55.2		%	85.9		%	61.3		%	73.4		%	65.0		%				58.4		%
Excess & Surplus Lines
Current accident year losses greater than $5 million						—		%	—		%	—		%	—		%	—		%	—		%	—		%	—		%	—		%	—		%	—		%				—		%
Current accident year losses $2 million - $5 million						—			—			—			—			1.3			1.3			—			—			0.7			—			0.9						0.7
Large loss prior accident year reserve development						—			—			—			—			—			—			—			—			—			—			—						—
Total large loss ratio						—		%	—		%	—		%	—		%	1.3		%	1.3		%	—		%	—		%	0.7		%	—		%	0.9		%				0.7		%
Losses incurred but not reported						9.2			18.1			28.1			16.9			7.1			11.6			21.6			23.0			16.4			18.3			13.2						14.2
Other losses excluding catastrophe losses						33.6			24.4			14.8			27.2			35.4			33.8			26.8			19.7			30.4			24.4			32.1						30.8
Catastrophe losses						—			1.3			0.2			1.0			1.5			1.9			0.5			0.8			1.2			0.5			1.3						1.2
Total loss ratio						42.8		%	43.8		%	43.1		%	45.1		%	45.3		%	48.6		%	48.9		%	43.5		%	48.7		%	43.2		%	47.5		%				46.9		%
*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 Third-Quarter 2025 Supplemental Financial Data

7

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Consolidated Property Casualty
Loss Claim Count Detail
			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Consolidated
Current accident year reported losses greater    than $5 million						6			2			3			1			3			5			—			5			5			12			8						10
Current accident year reported losses    $2 million - $5 million						17			14			7			14			18			11			8			21			19			32			37						49
Prior accident year reported losses on    large losses						11			13			15			11			6			9			7			28			16			39			22						33
Non-Catastrophe reported losses on       large losses total						34			29			25			26			27			25			15			54			40			83			67						92
Commercial Lines
Current accident year reported losses greater    than $5 million						6			1			1			—			2			5			—			2			5			9			7						8
Current accident year reported losses    $2 million - $5 million						9			7			5			7			12			4			4			12			8			16			20						26
Prior accident year reported losses on    large losses						11			10			11			11			6			9			4			21			13			32			19						30
Non-Catastrophe reported losses on       large losses total						26			18			17			18			20			18			8			35			26			57			46						64
Personal Lines
Current accident year reported losses greater    than $5 million						—			1			2			1			1			—			—			3			—			3			1						2
Current accident year reported losses    $2 million - $5 million						8			7			2			7			5			6			4			9			10			16			15						21
Prior accident year reported losses on    large losses						—			3			4			—			—			—			3			7			3			7			3						3
Non-Catastrophe reported losses on       large losses total						8			11			8			8			6			6			7			19			13			26			19						26
Excess & Surplus Lines
Current accident year reported losses greater    than $5 million						—			—			—			—			—			—			—			—			—			—			—						—
Current accident year reported losses    $2 million - $5 million						—			—			—			—			1			1			—			—			1			—			2						2
Prior accident year reported losses on    large losses						—			—			—			—			—			—			—			—			—			—			—						—
Non-Catastrophe reported losses on       large losses total						—			—			—			—			1			1			—			—			1			—			2						2
*The sum of quarterly amounts may not equal the full year as each is computed independently.

CINF Third-Quarter 2025 Supplemental Financial Data

8

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Quarterly Property Casualty Data - Commercial Lines
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Commercial casualty:
Net written premiums						$	372		$	428		$	443		$	385		$	364		$	391		$	417		$	871		$	808		$	1,244		$	1,172					$	1,557
Year over year change %- written premium						2		%	9		%	6		%	7		%	10		%	3		%	3		%	8		%	3		%	6		%	5		%				6		%
Earned premiums						$	403		$	402		$	387		$	390		$	381		$	372		$	365		$	789		$	737		$	1,192		$	1,118					$	1,508
Current accident year before catastrophe losses						74.8		%	72.3		%	72.8		%	72.9		%	74.1		%	69.6		%	73.6		%	72.6		%	71.6		%	73.3		%	72.5		%				72.6		%
Current accident year catastrophe losses						—			—			—			—			—			—			—			—			—			—			—						—
Prior accident years before catastrophe losses						6.0			(0.4)			(0.3)			(0.3)			(0.4)			7.6			0.1			(0.4)			3.9			1.8			2.4						1.7
Prior accident years catastrophe losses						—			—			—			—			—			—			—			—			—			—			—						—
Total loss and loss expense ratio						80.8		%	71.9		%	72.5		%	72.6		%	73.7		%	77.2		%	73.7		%	72.2		%	75.5		%	75.1		%	74.9		%				74.3		%
Commercial property:
Net written premiums						$	422		$	428		$	411		$	383		$	389		$	392		$	362		$	839		$	754		$	1,260		$	1,143					$	1,526
Year over year change %- written premium						8		%	9		%	14		%	13		%	13		%	17		%	15		%	11		%	16		%	10		%	15		%				15		%
Earned premiums						$	405		$	399		$	389		$	373		$	361		$	348		$	336		$	787		$	684		$	1,192		$	1,045					$	1,418
Current accident year before catastrophe losses						37.2		%	40.2		%	43.5		%	22.3		%	40.9		%	45.7		%	48.5		%	41.8		%	47.0		%	40.2		%	44.9		%				39.0		%
Current accident year catastrophe losses						8.6			21.5			13.3			7.7			16.7			28.9			21.3			17.5			25.2			14.5			22.3						18.4
Prior accident years before catastrophe losses						(8.2)			(9.5)			(5.3)			3.2			(7.8)			(3.9)			(4.2)			(7.4)			(4.0)			(7.7)			(5.4)						(3.1)
Prior accident years catastrophe losses						(1.2)			(0.6)			(3.6)			(2.6)			(1.3)			(2.1)			(2.5)			(2.1)			(2.3)			(1.8)			(1.9)						(2.1)
Total loss and loss expense ratio						36.4		%	51.6		%	47.9		%	30.6		%	48.5		%	68.6		%	63.1		%	49.8		%	65.9		%	45.2		%	59.9		%				52.2		%
Commercial auto:
Net written premiums						$	243		$	271		$	283		$	223		$	223		$	248		$	259		$	555		$	506		$	797		$	730					$	953
Year over year change %- written premium						9		%	9		%	9		%	8		%	12		%	6		%	8		%	10		%	7		%	9		%	9		%				9		%
Earned premiums						$	253		$	247		$	241		$	237		$	231		$	228		$	220		$	489		$	448		$	742		$	679					$	916
Current accident year before catastrophe losses						64.7		%	65.0		%	68.6		%	65.5		%	66.7		%	67.9		%	70.0		%	66.8		%	68.9		%	66.1		%	68.2		%				67.5		%
Current accident year catastrophe losses						0.8			0.8			1.8			(3.3)			2.2			4.4			1.6			1.3			3.0			1.1			2.7						1.2
Prior accident years before catastrophe losses						4.1			7.2			2.9			2.4			0.2			(3.8)			(0.8)			5.1			(2.4)			4.8			(1.5)						(0.5)
Prior accident years catastrophe losses						—			(0.1)			(0.1)			(0.2)			—			—			(0.1)			(0.1)			—			(0.1)			—						(0.1)
Total loss and loss expense ratio						69.6		%	72.9		%	73.2		%	64.4		%	69.1		%	68.5		%	70.7		%	73.1		%	69.5		%	71.9		%	69.4		%				68.1		%
Workers' compensation:
Net written premiums						$	56		$	57		$	79		$	54		$	56		$	55		$	79		$	135		$	134		$	191		$	190					$	244
Year over year change %- written premium						—		%	4		%	—		%	(5)		%	(2)		%	(15)		%	(4)		%	1		%	(9)		%	1		%	(6)		%				(6)		%
Earned premiums						$	61		$	60		$	61		$	60		$	61		$	59		$	61		$	121		$	120		$	181		$	182					$	242
Current accident year before catastrophe losses						94.6		%	97.0		%	95.5		%	87.9		%	88.2		%	86.5		%	91.5		%	96.2		%	89.0		%	95.7		%	88.8		%				88.5		%
Current accident year catastrophe losses						—			—			—			—			—			—			—			—			—			—			—						—
Prior accident years before catastrophe losses						(28.3)			(27.8)			(18.6)			(44.4)			(26.7)			(46.9)			(19.3)			(23.1)			(32.9)			(24.9)			(30.8)						(34.2)
Prior accident years catastrophe losses						—			—			—			—			—			—			—			—			—			—			—						—
Total loss and loss expense ratio						66.3		%	69.2		%	76.9		%	43.5		%	61.5		%	39.6		%	72.2		%	73.1		%	56.1		%	70.8		%	58.0		%				54.3		%
Other commercial:
Net written premiums						$	105		$	106		$	109		$	98		$	106		$	100		$	106		$	215		$	207		$	321		$	312					$	410
Year over year change %- written premium						(1)		%	6		%	3		%	1		%	8		%	5		%	6		%	4		%	6		%	3		%	6		%				5		%
Earned premiums						$	107		$	104		$	101		$	100		$	103		$	100		$	100		$	205		$	200		$	313		$	302					$	402
Current accident year before catastrophe losses						51.1		%	50.5		%	45.8		%	47.9		%	50.5		%	40.7		%	40.5		%	48.2		%	40.6		%	49.2		%	43.9		%				44.9		%
Current accident year catastrophe losses						—			0.1			0.1			0.1			0.1			—			0.1			0.1			0.1			—			0.1						0.1
Prior accident years before catastrophe losses						2.9			(1.5)			(2.2)			—			0.4			0.2			(2.8)			(1.8)			(1.3)			(0.2)			(0.6)						(0.5)
Prior accident years catastrophe losses						—			0.1			—			—			(0.1)			0.1			0.1			—			0.1			—			—						—
Total loss and loss expense ratio						54.0		%	49.2		%	43.7		%	48.0		%	50.9		%	41.0		%	37.9		%	46.5		%	39.5		%	49.0		%	43.4		%				44.5		%
*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 Third-Quarter 2025 Supplemental Financial Data

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Quarterly Property Casualty Data - Personal Lines
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Personal auto:
Net written premiums						$	328		$	333		$	266		$	270		$	296		$	283		$	216		$	599		$	499		$	927		$	795					$	1,065
Year over year change %- written premium						11		%	18		%	23		%	30		%	30		%	33		%	33		%	20		%	33		%	17		%	32		%				32		%
Earned premiums						$	295		$	285		$	271		$	258		$	242		$	224		$	208		$	556		$	432		$	851		$	674					$	932
Current accident year before catastrophe losses						67.8		%	67.8		%	71.2		%	70.0		%	68.7		%	73.3		%	73.8		%	69.5		%	73.5		%	68.9		%	71.8		%				71.3		%
Current accident year catastrophe losses						1.1			3.2			3.0			(3.6)			6.6			3.6			3.4			3.1			3.5			2.4			4.6						2.3
Prior accident years before catastrophe losses						1.9			—			(0.8)			4.0			1.5			5.3			(1.9)			(0.4)			1.9			0.4			1.7						2.4
Prior accident years catastrophe losses						—			—			(0.3)			—			—			(0.1)			(0.7)			(0.2)			(0.4)			(0.1)			(0.2)						(0.2)
Total loss and loss expense ratio						70.8		%	71.0		%	73.1		%	70.4		%	76.8		%	82.1		%	74.6		%	72.0		%	78.5		%	71.6		%	77.9		%				75.8		%
Homeowner:
Net written premiums						$	518		$	532		$	320		$	394		$	442		$	433		$	303		$	852		$	736		$	1,370		$	1,178					$	1,572
Year over year change %- written premium						17		%	23		%	6		%	32		%	30		%	31		%	36		%	16		%	33		%	16		%	32		%				32		%
Earned premiums						$	444		$	425		$	338		$	379		$	352		$	326		$	303		$	763		$	629		$	1,208		$	981					$	1,360
Current accident year before catastrophe losses						37.6		%	38.8		%	53.4		%	34.2		%	40.9		%	42.2		%	46.9		%	45.2		%	44.4		%	42.4		%	43.1		%				40.7		%
Current accident year catastrophe losses						12.9			44.3			122.5			2.6			47.4			38.5			21.0			79.0			30.1			54.7			36.3						26.9
Prior accident years before catastrophe losses						0.9			(3.0)			(2.0)			(1.3)			(1.4)			1.2			(2.0)			(2.6)			(0.3)			(1.3)			(0.7)						(0.9)
Prior accident years catastrophe losses						(1.6)			(3.0)			(3.5)			(3.1)			(1.7)			(1.7)			(6.3)			(3.2)			(4.0)			(2.6)			(3.1)						(3.1)
Total loss and loss expense ratio						49.8		%	77.1		%	170.4		%	32.4		%	85.2		%	80.2		%	59.6		%	118.4		%	70.2		%	93.2		%	75.6		%				63.6		%
Other personal:
Net written premiums						$	105		$	115		$	86		$	89		$	94		$	103		$	76		$	201		$	179		$	306		$	273					$	362
Year over year change %- written premium						12		%	12		%	13		%	20		%	18		%	18		%	21		%	12		%	19		%	12		%	18		%				19		%
Earned premiums						$	99		$	94		$	89		$	89		$	84		$	81		$	77		$	183		$	158		$	281		$	242					$	331
Current accident year before catastrophe losses						58.8		%	58.3		%	76.2		%	57.0		%	66.5		%	54.6		%	57.4		%	67.0		%	56.0		%	64.2		%	59.7		%				59.0		%
Current accident year catastrophe losses						6.9			6.8			1.1			14.0			4.1			5.3			2.3			4.0			3.8			5.0			3.9						6.6
Prior accident years before catastrophe losses						12.5			7.4			3.7			7.3			8.7			(5.8)			(2.6)			5.6			(4.3)			8.0			0.2						2.1
Prior accident years catastrophe losses						(0.8)			(0.1)			(0.4)			—			—			0.2			(0.3)			(0.2)			—			(0.5)			—						—
Total loss and loss expense ratio						77.4		%	72.4		%	80.6		%	78.3		%	79.3		%	54.3		%	56.8		%	76.4		%	55.5		%	76.7		%	63.8		%				67.7		%
Quarterly Property Casualty Data - Excess & Surplus Lines
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Excess & Surplus:
Net written premiums						$	175		$	202		$	168		$	171		$	157		$	180		$	146		$	370		$	326		$	545		$	483					$	654
Year over year change %- written premium						11		%	12		%	15		%	14		%	23		%	15		%	7		%	13		%	12		%	13		%	15		%				15		%
Earned premiums						$	174		$	174		$	162		$	168		$	157		$	151		$	139		$	336		$	290		$	510		$	447					$	615
Current accident year before catastrophe losses						64.1		%	64.9		%	65.6		%	63.1		%	64.2		%	64.0		%	65.7		%	65.2		%	64.8		%	64.8		%	64.6		%				64.2		%
Current accident year catastrophe losses						0.2			1.6			0.8			1.0			1.7			1.4			0.9			1.2			1.2			0.9			1.4						1.3
Prior accident years before catastrophe losses						(2.1)			(2.7)			(5.0)			2.3			2.9			1.6			(1.7)			(3.8)			—			(3.2)			1.0						1.4
Prior accident years catastrophe losses						(0.1)			(0.3)			(0.5)			0.1			(0.2)			0.5			(0.4)			(0.3)			—			(0.3)			—						—
Total loss and loss expense ratio						62.1		%	63.5		%	60.9		%	66.5		%	68.6		%	67.5		%	64.5		%	62.3		%	66.0		%	62.2		%	67.0		%				66.9		%
*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.

CINF Third-Quarter 2025 Supplemental Financial Data

10

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Consolidated Property Casualty Loss and Loss Expense Analysis
(Dollars in millions)																								Change in						Change in						Change in						Total																		Loss
						Paid						Paid loss						Total						case						IBNR						loss expense						change in						Case						IBNR						expense						Total
						losses						expense						paid						reserves						reserves						reserves						reserves						incurred						incurred						incurred						incurred
Gross loss and loss expense incurred for the nine months ended September 30, 2025
Commercial casualty						$	442					$	162					$	604					$	85					$	184					$	45					$	314					$	527					$	184					$	207					$	918
Commercial property						465						54						519						(27)						36						14						23						438						36						68						542
Commercial auto						352						67						419						10						86						19						115						362						86						86						534
Workers' compensation						93						22						115						(11)						15						12						16						82						15						34						131
Other commercial						77						17						94						9						26						31						66						86						26						48						160
Total commercial lines						1,429						322						1,751						66						347						121						534						1,495						347						443						2,285
Personal auto						430						85						515						22						48						25						95						452						48						110						610
Homeowners						1,186						86						1,272						109						129						29						267						1,295						129						115						1,539
Other personal						148						8						156						6						70						1						77						154						70						9						233
Total personal lines						1,764						179						1,943						137						247						55						439						1,901						247						234						2,382
Excess & surplus lines						127						54						181						6						95						43						144						133						95						97						325
Other						320						17						337						28						112						1						141						348						112						18						478
Total property casualty						$	3,640					$	572					$	4,212					$	237					$	801					$	220					$	1,258					$	3,877					$	801					$	792					$	5,470
Ceded loss and loss expense incurred for the nine months ended September 30, 2025
Commercial casualty						$	1					$	—					$	1					$	24					$	(2)					$	—					$	22					$	25					$	(2)					$	—					$	23
Commercial property						19						1						20						(20)						4						—						(16)						(1)						4						1						4
Commercial auto						—						—						—						—						—						—						—						—						—						—						—
Workers' compensation						5						—						5						(2)						(1)						—						(3)						3						(1)						—						2
Other commercial						11						—						11						(4)						—						—						(4)						7						—						—						7
Total commercial lines						36						1						37						(2)						1						—						(1)						34						1						1						36
Personal auto						1						—						1						—						—						—						—						1						—						—						1
Homeowners						275						—						275						61						77						—						138						336						77						—						413
Other personal						9						—						9						6						2						—						8						15						2						—						17
Total personal lines						285						—						285						67						79						—						146						352						79						—						431
Excess & surplus lines						6						1						7						(1)						2						—						1						5						2						1						8
Other						21						—						21						(3)						39						—						36						18						39						—						57
Total property casualty						$	348					$	2					$	350					$	61					$	121					$	—					$	182					$	409					$	121					$	2					$	532
Net loss and loss expense incurred for the nine months ended September 30, 2025
Commercial casualty						$	441					$	162					$	603					$	61					$	186					$	45					$	292					$	502					$	186					$	207					$	895
Commercial property						446						53						499						(7)						32						14						39						439						32						67						538
Commercial auto						352						67						419						10						86						19						115						362						86						86						534
Workers' compensation						88						22						110						(9)						16						12						19						79						16						34						129
Other commercial						66						17						83						13						26						31						70						79						26						48						153
Total commercial lines						1,393						321						1,714						68						346						121						535						1,461						346						442						2,249
Personal auto						429						85						514						22						48						25						95						451						48						110						609
Homeowners						911						86						997						48						52						29						129						959						52						115						1,126
Other personal						139						8						147						—						68						1						69						139						68						9						216
Total personal lines						1,479						179						1,658						70						168						55						293						1,549						168						234						1,951
Excess & surplus lines						121						53						174						7						93						43						143						128						93						96						317
Other						299						17						316						31						73						1						105						330						73						18						421
Total property casualty						$	3,292					$	570					$	3,862					$	176					$	680					$	220					$	1,076					$	3,468					$	680					$	790					$	4,938
*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 Third-Quarter 2025 Supplemental Financial Data

11

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Consolidated Property Casualty Loss and Loss Expense Analysis
(Dollars in millions)																								Change in						Change in						Change in						Total																		Loss
						Paid						Paid loss						Total						case						IBNR						loss expense						change in						Case						IBNR						expense						Total
						losses						expense						paid						reserves						reserves						reserves						reserves						incurred						incurred						incurred						incurred
Gross loss and loss expense incurred for the three months ended September 30, 2025
Commercial casualty						$	173					$	54					$	227					$	49					$	55					$	13					$	117					$	222					$	55					$	67					$	344
Commercial property						160						16						176						—						(33)						7						(26)						160						(33)						23						150
Commercial auto						118						20						138						9						22						8						39						127						22						28						177
Workers' compensation						32						6						38						4						(3)						1						2						36						(3)						7						40
Other commercial						28						6						34						8						10						8						26						36						10						14						60
Total commercial lines						511						102						613						70						51						37						158						581						51						139						771
Personal auto						151						24						175						14						8						13						35						165						8						37						210
Homeowners						273						26						299						(31)						(58)						14						(75)						242						(58)						40						224
Other personal						48						2						50						(8)						31						1						24						40						31						3						74
Total personal lines						472						52						524						(25)						(19)						28						(16)						447						(19)						80						508
Excess & surplus lines						43						19						62						17						16						14						47						60						16						33						109
Other						86						6						92						(15)						20						1						6						71						20						7						98
Total property casualty						$	1,112					$	179					$	1,291					$	47					$	68					$	80					$	195					$	1,159					$	68					$	259					$	1,486
Ceded loss and loss expense incurred for the three months ended September 30, 2025
Commercial casualty						$	1					$	—					$	1					$	16					$	—					$	—					$	16					$	17					$	—					$	—					$	17
Commercial property						8						—						8						(3)						(2)						—						(5)						5						(2)						—						3
Commercial auto						—						—						—						1						—						—						1						1						—						—						1
Workers' compensation						2						—						2						—						(1)						—						(1)						2						(1)						—						1
Other commercial						3						—						3						(1)						—						—						(1)						2						—						—						2
Total commercial lines						14						—						14						13						(3)						—						10						27						(3)						—						24
Personal auto						—						—						—						—						—						—						—						—						—						—						—
Homeowners						46						—						46						(18)						(24)						—						(42)						28						(24)						—						4
Other personal						2						—						2						(4)						(1)						—						(5)						(2)						(1)						—						(3)
Total personal lines						48						—						48						(22)						(25)						—						(47)						26						(25)						—						1
Excess & surplus lines						1						—						1						—						—						—						—						1						—						—						1
Other						10						1						11						(2)						(13)						—						(15)						8						(13)						1						(4)
Total property casualty						$	73					$	1					$	74					$	(11)					$	(41)					$	—					$	(52)					$	62					$	(41)					$	1					$	22
Net loss and loss expense incurred for the three months ended September 30, 2025
Commercial casualty						$	172					$	54					$	226					$	33					$	55					$	13					$	101					$	205					$	55					$	67					$	327
Commercial property						152						16						168						3						(31)						7						(21)						155						(31)						23						147
Commercial auto						118						20						138						8						22						8						38						126						22						28						176
Workers' compensation						30						6						36						4						(2)						1						3						34						(2)						7						39
Other commercial						25						6						31						9						10						8						27						34						10						14						58
Total commercial lines						497						102						599						57						54						37						148						554						54						139						747
Personal auto						151						24						175						14						8						13						35						165						8						37						210
Homeowners						227						26						253						(13)						(34)						14						(33)						214						(34)						40						220
Other personal						46						2						48						(4)						32						1						29						42						32						3						77
Total personal lines						424						52						476						(3)						6						28						31						421						6						80						507
Excess & surplus lines						42						19						61						17						16						14						47						59						16						33						108
Other						76						5						81						(13)						33						1						21						63						33						6						102
Total property casualty						$	1,039					$	178					$	1,217					$	58					$	109					$	80					$	247					$	1,097					$	109					$	258					$	1,464
*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 Third-Quarter 2025 Supplemental Financial Data

12

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Quarterly Property Casualty Data - Consolidated
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Premiums
Agency renewal written premiums						$	2,037		$	2,135		$	1,912		$	1,759		$	1,795		$	1,843		$	1,683		$	4,047		$	3,526		$	6,084		$	5,321					$	7,080
Agency new business written premiums						356			404			383			382			406			407			346			787			753			1,143			1,159						1,541
Other written premiums						100			194			200			102			92			209			219			394			428			494			520						622
Net written premiums						$	2,493		$	2,733		$	2,495		$	2,243		$	2,293		$	2,459		$	2,248		$	5,228		$	4,707		$	7,721		$	7,000					$	9,243
Unearned premium change						(9)			(336)			(231)			41			(76)			(384)			(256)			(567)			(640)			(576)			(716)						(675)
Earned premiums						$	2,484		$	2,397		$	2,264		$	2,284		$	2,217		$	2,075		$	1,992		$	4,661		$	4,067		$	7,145		$	6,284					$	8,568
Year over year change %
Agency renewal written premiums						13		%	16		%	14		%	15		%	16		%	12		%	10		%	15		%	11		%	14		%	13		%				13		%
Agency new business written premiums						(12)			(1)			11			23			30			34			38			5			36			(1)			34						31
Other written premiums						9			(7)			(9)			34			(3)			2			(6)			(8)			(2)			(5)			(2)						2
Net written premiums						9			11			11			17			17			14			11			11			13			10			14						15
Paid losses and loss expenses
Losses paid						$	1,039		$	1,049		$	1,203		$	978		$	946		$	893		$	861		$	2,253		$	1,755		$	3,292		$	2,701					$	3,680
Loss expenses paid						178			197			196			185			168			174			176			392			349			570			517						701
Loss and loss expenses paid						$	1,217		$	1,246		$	1,399		$	1,163		$	1,114		$	1,067		$	1,037		$	2,645		$	2,104		$	3,862		$	3,218					$	4,381
Incurred losses and loss expenses
Loss and loss expense incurred						$	1,464		$	1,587		$	1,887		$	1,255		$	1,499		$	1,412		$	1,270		$	3,474		$	2,682		$	4,938		$	4,181					$	5,436
Loss and loss expenses paid as a % of incurred						83.1		%	78.5		%	74.1		%	92.7		%	74.3		%	75.6		%	81.7		%	76.1		%	78.4		%	78.2		%	77.0		%				80.6		%
Statutory combined ratio
Loss ratio						49.5		%	55.4		%	72.4		%	43.2		%	58.3		%	59.1		%	55.2		%	63.6		%	57.2		%	58.7		%	57.6		%				53.8		%
Loss adjustment expense ratio						10.9			11.6			11.7			11.8			11.0			10.1			9.6			11.7			9.8			11.4			10.2						10.6
Net underwriting expense ratio						28.3			26.4			28.2			30.2			28.5			27.7			27.5			27.3			27.6			27.6			27.9						28.5
US Statutory combined ratio						88.7		%	93.4		%	112.3		%	85.2		%	97.8		%	96.9		%	92.3		%	102.6		%	94.6		%	97.7		%	95.7		%				92.9		%
Contribution from catastrophe losses						4.0			11.9			25.2			2.8			13.4			11.6			6.1			18.4			8.9			13.4			10.5						8.4
Statutory combined ratio excl. catastrophe losses						84.7		%	81.5		%	87.1		%	82.4		%	84.4		%	85.3		%	86.2		%	84.2		%	85.7		%	84.3		%	85.2		%				84.5		%
GAAP combined ratio
GAAP combined ratio						88.2		%	94.9		%	113.3		%	84.7		%	97.4		%	98.5		%	93.6		%	103.8		%	96.1		%	98.4		%	96.5		%				93.4		%
Contribution from catastrophe losses						3.7			12.2			25.0			4.0			13.0			11.2			5.9			18.4			8.6			13.3			10.1						8.5
GAAP combined ratio excl. catastrophe losses						84.5		%	82.7		%	88.3		%	80.7		%	84.4		%	87.3		%	87.7		%	85.4		%	87.5		%	85.1		%	86.4		%				84.9		%
*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. Statutory ratios exclude the results of Cincinnati Global. Consolidated property casualty data includes the results of Cincinnati Re and Cincinnati Global.

CINF Third-Quarter 2025 Supplemental Financial Data

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Quarterly Property Casualty Data - Commercial Lines
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Premiums
Agency renewal written premiums						$	1,043		$	1,116		$	1,152		$	1,001		$	987		$	1,023		$	1,076		$	2,268		$	2,099		$	3,311		$	3,086					$	4,087
Agency new business written premiums						185			200			203			179			187			193			182			403			375			588			562						741
Other written premiums						(30)			(26)			(30)			(37)			(36)			(30)			(35)			(56)			(65)			(86)			(101)						(138)
Net written premiums						$	1,198		$	1,290		$	1,325		$	1,143		$	1,138		$	1,186		$	1,223		$	2,615		$	2,409		$	3,813		$	3,547					$	4,690
Unearned premium change						31			(78)			(146)			17			(1)			(79)			(141)			(224)			(220)			(193)			(221)						(204)
Earned premiums						$	1,229		$	1,212		$	1,179		$	1,160		$	1,137		$	1,107		$	1,082		$	2,391		$	2,189		$	3,620		$	3,326					$	4,486
Year over year change %
Agency renewal written premiums						6		%	9		%	7		%	7		%	8		%	4		%	3		%	8		%	4		%	7		%	5		%				5		%
Agency new business written premiums						(1)			4			12			17			26			30			36			7			33			5			30						27
Other written premiums						17			13			14			(28)			(9)			(7)			(3)			14			(5)			15			(6)						(11)
Net written premiums						5			9			8			8			11			7			7			9			7			7			8						8
Paid losses and loss expenses
Losses paid						$	497		$	493		$	403		$	481		$	500		$	460		$	479		$	897		$	941		$	1,393		$	1,440					$	1,922
Loss expenses paid						102			110			109			104			102			103			106			218			207			321			311						413
Loss and loss expenses paid						$	599		$	603		$	512		$	585		$	602		$	563		$	585		$	1,115		$	1,148		$	1,714		$	1,751					$	2,335
Incurred losses and loss expenses
Loss and loss expense incurred						$	747		$	767		$	735		$	624		$	706		$	746		$	719		$	1,502		$	1,465		$	2,249		$	2,171					$	2,795
Loss and loss expenses paid as a % of incurred						80.2		%	78.6		%	69.7		%	93.8		%	85.3		%	75.5		%	81.4		%	74.2		%	78.4		%	76.2		%	80.7		%				83.5		%
Statutory combined ratio
Loss ratio						49.5		%	50.7		%	49.7		%	41.4		%	51.0		%	57.8		%	56.5		%	50.2		%	57.2		%	50.0		%	55.1		%				51.5		%
Loss adjustment expense ratio						11.3			12.7			12.6			12.4			11.1			9.6			9.9			12.6			9.7			12.2			10.2						10.8
Net underwriting expense ratio						30.9			28.3			26.9			31.4			31.2			29.9			27.4			27.6			28.7			28.6			29.4						29.9
Statutory combined ratio						91.7		%	91.7		%	89.2		%	85.2		%	93.3		%	97.3		%	93.8		%	90.4		%	95.6		%	90.8		%	94.7		%				92.2		%
Contribution from catastrophe losses						2.6			7.0			3.6			0.9			5.4			9.3			6.2			5.4			7.8			4.4			6.9						5.4
Statutory combined ratio excl. catastrophe losses						89.1		%	84.7		%	85.6		%	84.3		%	87.9		%	88.0		%	87.6		%	85.0		%	87.8		%	86.4		%	87.8		%				86.8		%
GAAP combined ratio
GAAP combined ratio						91.1		%	92.9		%	91.9		%	84.5		%	93.0		%	99.1		%	96.5		%	92.4		%	97.9		%	92.0		%	96.2		%				93.2		%
Contribution from catastrophe losses						2.6			7.0			3.6			0.9			5.4			9.3			6.2			5.4			7.8			4.4			6.9						5.4
GAAP combined ratio excl. catastrophe losses						88.5		%	85.9		%	88.3		%	83.6		%	87.6		%	89.8		%	90.3		%	87.0		%	90.1		%	87.6		%	89.3		%				87.8		%
*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. *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 Third-Quarter 2025 Supplemental Financial Data

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Quarterly Property Casualty Data - Personal Lines
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Premiums
Agency renewal written premiums						$	864		$	866		$	634		$	625		$	695		$	681		$	494		$	1,500		$	1,175		$	2,364		$	1,870					$	2,495
Agency new business written premiums						116			141			127			154			165			163			122			268			285			384			450						604
Other written premiums						(29)			(27)			(89)			(26)			(28)			(25)			(21)			(116)			(46)			(145)			(74)						(100)
Net written premiums						$	951		$	980		$	672		$	753		$	832		$	819		$	595		$	1,652		$	1,414		$	2,603		$	2,246					$	2,999
Unearned premium change						(113)			(176)			26			(27)			(154)			(188)			(7)			(150)			(195)			(263)			(349)						(376)
Earned premiums						$	838		$	804		$	698		$	726		$	678		$	631		$	588		$	1,502		$	1,219		$	2,340		$	1,897					$	2,623
Year over year change %
Agency renewal written premiums						24		%	27		%	28		%	29		%	28		%	26		%	27		%	28		%	26		%	26		%	27		%				27		%
Agency new business written premiums						(30)			(13)			4			41			35			54			54			(6)			54			(15)			47						45
Other written premiums						(4)			(8)			(324)			(63)			(56)			(39)			(11)			(152)			(24)			(96)			(35)						(41)
Net written premiums						14			20			13			30			29			30			33			17			31			16			30						30
Paid losses and loss expenses
Losses paid						$	424		$	446		$	609		$	388		$	355		$	335		$	282		$	1,055		$	618		$	1,479		$	973					$	1,361
Loss expenses paid						52			63			64			56			46			51			51			127			102			179			148						204
Loss and loss expenses paid						$	476		$	509		$	673		$	444		$	401		$	386		$	333		$	1,182		$	720		$	1,658		$	1,121					$	1,565
Incurred losses and loss expenses
Loss and loss expense incurred						$	507		$	598		$	846		$	374		$	553		$	489		$	379		$	1,444		$	868		$	1,951		$	1,421					$	1,795
Loss and loss expenses paid as a % of incurred						93.9		%	85.1		%	79.6		%	118.7		%	72.5		%	78.9		%	87.9		%	81.9		%	82.9		%	85.0		%	78.9		%				87.2		%
Statutory combined ratio
Loss ratio						50.9		%	64.8		%	110.1		%	41.1		%	71.7		%	67.1		%	55.2		%	85.9		%	61.3		%	73.4		%	65.0		%				58.4		%
Loss adjustment expense ratio						9.5			9.6			11.0			10.4			9.8			10.5			9.3			10.3			9.9			10.0			9.9						10.0
Net underwriting expense ratio						25.9			24.7			31.2			28.5			25.8			25.2			29.6			27.3			27.1			26.8			26.6						27.1
Statutory combined ratio						86.3		%	99.1		%	152.3		%	80.0		%	107.3		%	102.8		%	94.1		%	123.5		%	98.3		%	110.2		%	101.5		%				95.5		%
Contribution from catastrophe losses						7.1			23.8			58.7			0.2			26.6			20.9			8.8			40.0			15.0			28.3			19.2						13.9
Statutory combined ratio excl. catastrophe losses						79.2		%	75.3		%	93.6		%	79.8		%	80.7		%	81.9		%	85.3		%	83.5		%	83.3		%	81.9		%	82.3		%				81.6		%
GAAP combined ratio
GAAP combined ratio						88.2		%	102.0		%	151.3		%	80.2		%	110.3		%	106.9		%	93.9		%	124.9		%	100.6		%	111.8		%	104.1		%				97.5		%
Contribution from catastrophe losses						7.1			23.8			58.7			0.2			26.6			20.9			8.8			40.0			15.0			28.3			19.2						13.9
GAAP combined ratio excl. catastrophe losses						81.1		%	78.2		%	92.6		%	80.0		%	83.7		%	86.0		%	85.1		%	84.9		%	85.6		%	83.5		%	84.9		%				83.6		%
*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.

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Quarterly Property Casualty Data - Excess & Surplus Lines
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Premiums
Agency renewal written premiums						$	130		$	153		$	126		$	133		$	113		$	139		$	113		$	279		$	252		$	409		$	365					$	498
Agency new business written premiums						55			63			53			49			54			51			42			116			93			171			147						196
Other written premiums						(10)			(14)			(11)			(11)			(10)			(10)			(9)			(25)			(19)			(35)			(29)						(40)
Net written premiums						$	175		$	202		$	168		$	171		$	157		$	180		$	146		$	370		$	326		$	545		$	483					$	654
Unearned premium change						(1)			(28)			(6)			(3)			—			(29)			(7)			(34)			(36)			(35)			(36)						(39)
Earned premiums						$	174		$	174		$	162		$	168		$	157		$	151		$	139		$	336		$	290		$	510		$	447					$	615
Year over year change %
Agency renewal written premiums						15		%	10		%	12		%	19		%	22		%	19		%	7		%	11		%	13		%	12		%	16		%				16		%
Agency new business written premiums						2			24			26			2			26			6			11			25			8			16			14						11
Other written premiums						—			(40)			(22)			(10)			(25)			(11)			(13)			(32)			(12)			(21)			(16)						(14)
Net written premiums						11			12			15			14			23			15			7			13			12			13			15						15
Paid losses and loss expenses
Losses paid						$	42		$	38		$	40		$	39		$	34		$	41		$	46		$	78		$	86		$	121		$	121					$	160
Loss expenses paid						19			17			18			19			17			16			17			35			34			53			49						69
Loss and loss expenses paid						$	61		$	55		$	58		$	58		$	51		$	57		$	63		$	113		$	120		$	174		$	170					$	229
Incurred losses and loss expenses
Loss and loss expense incurred						$	108		$	110		$	99		$	112		$	107		$	102		$	90		$	209		$	192		$	317		$	299					$	411
Loss and loss expenses paid as a % of incurred						56.5		%	50.0		%	58.6		%	51.8		%	47.7		%	55.9		%	70.0		%	54.1		%	62.5		%	54.9		%	56.9		%				55.7		%
Statutory combined ratio
Loss ratio						42.8		%	43.8		%	43.1		%	45.1		%	45.2		%	48.6		%	48.9		%	43.4		%	48.7		%	43.2		%	47.5		%				46.8		%
Loss adjustment expense ratio						19.2			19.7			17.8			21.4			23.4			19.0			15.6			18.8			17.4			19.0			19.5						20.0
Net underwriting expense ratio						26.6			25.3			25.5			27.3			26.7			26.0			26.0			25.4			26.0			25.8			26.2						26.5
Statutory combined ratio						88.6		%	88.8		%	86.4		%	93.8		%	95.3		%	93.6		%	90.5		%	87.6		%	92.1		%	88.0		%	93.2		%				93.3		%
Contribution from catastrophe losses						0.1			1.3			0.3			1.1			1.5			1.9			0.5			0.9			1.2			0.6			1.4						1.3
Statutory combined ratio excl. catastrophe losses						88.5		%	87.5		%	86.1		%	92.7		%	93.8		%	91.7		%	90.0		%	86.7		%	90.9		%	87.4		%	91.8		%				92.0		%
GAAP combined ratio
GAAP combined ratio						89.8		%	91.1		%	88.3		%	93.1		%	95.3		%	95.4		%	91.9		%	89.8		%	93.7		%	89.8		%	94.3		%				94.0		%
Contribution from catastrophe losses						0.1			1.3			0.3			1.1			1.5			1.9			0.5			0.9			1.2			0.6			1.4						1.3
GAAP combined ratio excl. catastrophe losses						89.7		%	89.8		%	88.0		%	92.0		%	93.8		%	93.5		%	91.4		%	88.9		%	92.5		%	89.2		%	92.9		%				92.7		%
*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.

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Consolidated Cincinnati Insurance Companies
Statutory Statements of Income
			For the Three Months Ended September 30,												For the Nine Months Ended September 30,
(Dollars in millions)			2025			2024			Change			% Change			2025			2024			Change			% Change
Underwriting income
Net premiums written			$	2,411		$	2,216		$	195		9			$	7,466		$	6,774		$	692		10
Unearned premium change			29			106			(77)			(73)			552			693			(141)			(20)
Earned premiums			$	2,382		$	2,110		$	272		13			$	6,914		$	6,081		$	833		14
Losses incurred			$	1,179		$	1,231		$	(52)		(4)			$	4,062		$	3,503		$	559		16
Defense and cost containment expenses incurred			126			115			11			10			391			287			104			36
Adjusting and other expenses incurred			133			117			16			14			396			333			63			19
Other underwriting expenses incurred			684			630			54			9			2,060			1,886			174			9
Workers compensation dividend incurred			—			1			(1)			(100)			3			4			(1)			(25)
Total underwriting deductions			$	2,122		$	2,094		$	28		1			$	6,912		$	6,013		$	899		15
Net underwriting profit			$	260		$	16		$	244		nm			$	2		$	68		$	(66)		(97)
Investment income
Gross investment income earned			$	208		$	170		$	38		22			$	587		$	484		$	103		21
Net investment income earned			204			168			36			21			577			478			99			21
Net realized capital gains and losses, net			32			285			(253)			(89)			26			333			(307)			(92)
Net investment gains (net of tax)			$	236		$	453		$	(217)		(48)			$	603		$	811		$	(208)		(26)
Other income			$	2		$	2		$	—		—			$	5		$	5		$	—		—
Net income before federal income taxes			$	498		$	471		$	27		6			$	610		$	884		$	(274)		(31)
Federal and foreign income taxes incurred			75			24			51			213			61			83			(22)			(27)
Net income (statutory)			$	423		$	447		$	(24)		(5)			$	549		$	801		$	(252)		(31)
Policyholders' surplus - statutory			$	9,513		$	8,258		$	1,255		15			$	9,513		$	8,258		$	1,255		15
Fixed maturities at amortized cost - statutory			$	13,311		$	11,714		$	1,597		14			$	13,311		$	11,714		$	1,597		14
*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.

    

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The Cincinnati Life Insurance Company
Statutory Statements of Income
			For the Three Months Ended September 30,												For the Nine Months Ended September 30,
(Dollars in millions)			2025			2024			Change			% Change			2025			2024			Change			% Change
Net premiums written			$	91		$	89		$	2		2			$	263		$	268		$	(5)		(2)
Net investment income			50			48			2			4			150			142			8			6
Commissions and expense allowances on reinsurance ceded			1			1			—			—			3			3			—			—
Income from fees associated with separate accounts			2			1			1			100			5			4			1			25
Total revenues			$	144		$	139		$	5		4			$	421		$	417		$	4		1
Death benefits and matured endowments			$	36		$	41		$	(5)		(12)			$	132		$	126		$	6		5
Annuity benefits			22			29			(7)			(24)			65			97			(32)			(33)
Disability benefits and benefits under accident and health contracts			1			1			—			—			2			2			—			—
Surrender benefits and group conversions			8			9			(1)			(11)			28			26			2			8
Interest and adjustments on deposit-type contract funds			1			2			(1)			(50)			5			4			1			25
Increase in aggregate reserves for life and accident and health contracts			2			(3)			5			nm			(5)			(20)			15			75
Total benefit expenses			$	70		$	79		$	(9)		(11)			$	227		$	235		$	(8)		(3)
Commissions			$	13		$	12		$	1		8			$	37		$	37		$	—		—
General insurance expenses and taxes			14			15			(1)			(7)			45			45			—			—
Increase in loading on deferred and uncollected premiums			2			2			—			—			4			2			2			100
Net transfers from separate accounts			(1)			—			(1)			nm			(9)			(3)			(6)			(200)
Total underwriting expenses			$	28		$	29		$	(1)		(3)			$	77		$	81		$	(4)		(5)
Federal and foreign income taxes incurred			11			7			4			57			28			24			4			17
Net gain from operations before capital gains and losses			$	35		$	24		$	11		46			$	89		$	77		$	12		16
Gains and losses net of capital gains tax, net			2			(1)			3			nm			(4)			(10)			6			60
Net income (statutory)			$	37		$	23		$	14		61			$	85		$	67		$	18		27
Policyholders' surplus - statutory			$	588		$	482		$	106		22			$	588		$	482		$	106		22
Fixed maturities at amortized cost - statutory			$	3,921		$	3,847		$	74		2			$	3,921		$	3,847		$	74		2
*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.

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Quarterly Data - Other
(Dollars in millions)			Three months ended																								Six months ended						Nine months ended						Twelve months ended
			12/31/25			9/30/25			6/30/25			3/31/25			12/31/24			9/30/24			6/30/24			3/31/24			6/30/25			6/30/24			9/30/25			9/30/24			12/31/25			12/31/24
Cincinnati Re:
Net written premiums						$	87		$	164		$	255		$	99		$	89		$	207		$	202		$	418		$	409		$	505		$	498					$	597
Year over year change %- written premium						(2)		%	(21)		%	26		%	50		%	5		%	17		%	(12)		%	2		%	—		%	1		%	1		%				7		%
Earned premiums						$	141		$	142		$	161		$	162		$	138		$	138		$	135		$	303		$	273		$	444		$	411					$	573
Current accident year before catastrophe losses						52.9		%	56.2		%	46.6		%	37.6		%	52.5		%	49.6		%	63.0		%	51.1		%	56.3		%	51.7		%	55.0		%				50.0		%
Current accident year catastrophe losses						3.6			(0.6)			66.3			29.1			30.2			2.4			—			34.9			1.2			25.0			11.0						16.1
Prior accident years before catastrophe losses						(0.9)			5.7			(4.5)			0.7			(10.1)			(0.8)			(10.4)			0.3			(5.6)			(0.1)			(7.1)						(4.9)
Prior accident years catastrophe losses						(2.1)			(1.2)			(2.4)			—			(2.5)			(4.7)			—			(1.8)			(2.4)			(1.9)			(2.4)						(1.7)
Total loss and loss expense ratio						53.5		%	60.1		%	106.0		%	67.4		%	70.1		%	46.5		%	52.6		%	84.5		%	49.5		%	74.7		%	56.5		%				59.5		%
Cincinnati Global:
Net written premiums						$	82		$	97		$	75		$	77		$	77		$	67		$	82		$	173		$	149		$	255		$	226					$	303
Year over year change %- written premium						6		%	45		%	(9)		%	18		%	12		%	(18)		%	28		%	16		%	2		%	13		%	5		%				8		%
Earned premiums						$	102		$	65		$	64		$	68		$	107		$	48		$	48		$	129		$	96		$	231		$	203					$	271
Current accident year before catastrophe losses						35.1		%	41.8		%	39.3		%	20.6		%	31.6		%	47.9		%	48.2		%	40.6		%	48.1		%	38.2		%	39.4		%				34.7		%
Current accident year catastrophe losses						0.5			3.7			31.4			47.1			9.6			—			—			17.4			—			9.9			5.0						15.6
Prior accident years before catastrophe losses						(10.1)			(22.4)			(0.2)			(10.4)			(3.8)			(21.2)			(19.7)			(11.4)			(20.4)			(10.8)			(11.7)						(11.4)
Prior accident years catastrophe losses						(0.1)			17.3			(13.9)			(3.4)			(3.6)			(4.4)			(5.9)			1.8			(5.2)			0.9			(4.3)						(4.1)
Total loss and loss expense ratio						25.4		%	40.4		%	56.6		%	53.9		%	33.8		%	22.3		%	22.6		%	48.4		%	22.5		%	38.2		%	28.4		%				34.8		%
Noninsurance operations:
Interest and fees on loans and leases						$	3		$	2		$	3		$	2		$	3		$	2		$	2		$	5		$	4		$	8		$	7					$	9
Other revenue						3			3			1			3			—			2			1			4			3			7			3						6
Interest expense						13			14			13			13			13			14			13			27			27			40			40						53
Operating expenses						6			10			11			13			6			9			4			21			13			27			19						32
Total noninsurance operations loss						$	(13)		$	(19)		$	(20)		$	(21)		$	(16)		$	(19)		$	(14)		$	(39)		$	(33)		$	(52)		$	(49)					$	(70)
*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.

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