Oct 24 (Reuters) - Cincinnati Financial's ( CINF )

profit fell 14% in the third quarter due to an increase in

catastrophe losses, the insurance firm said on Thursday.

The combined ratio in the third quarter for the Consolidated

Property Casualty Insurance segment was 97.4%, an increase from

94.4% in the same period last year driven by a peak in

catastrophes.

The losses refer to a significant financial hit that

insurers incur due to large-scale natural or man-made disasters.

The United States grappled with multiple major hurricanes in

2024, including Hurricane Debby Helene and Milton, which struck

Florida, and Francine - which made landfall in Louisiana in

September.

The company's earned premiums totaled $2.30 billion, 13%

higher than last year.

However, the insurer's investment income climbed 15% to $258

million due to a market rally on soft landing expectations after

a rate cut by the Federal Reserve helped the company's

investment income to climb.

Its adjusted operating profit came at $1.42 per share for the

three months ended Sept. 30,