April 25 (Reuters) - Cincinnati Financial ( CINF )
posted a rise in first-quarter profit on Thursday, helped by a
jump in premiums and higher income from investments.
Earned premiums were up 8% at $2.07 billion for the quarter
ended March 31. The company posted an adjusted operating income
of $272 million, or $1.72 per share in the first-quarter, up
from $141 million, or 89 cents, in the year-ago period.
Growing expectations of a soft landing for the U.S. economy
fueled a rally in equities and other asset classes at the start
of the year, helping insurers rake in more income from
investments.
Cincinnati Financial's ( CINF ) investment income, net of expenses,
rose 17% to $245 million in the January to March quarter from a
year ago.
Insurance bellwether Travelers Companies ( TRV ) also posted
a 28% jump in net investment income in the first quarter.
Cincinnati Financial ( CINF ) offers a range of insurance products,
including property and casualty insurance for individuals,
businesses, and organizations.