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Cincinnati Financial quarterly profit rises on higher premiums, investment income
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Cincinnati Financial quarterly profit rises on higher premiums, investment income
Apr 25, 2024 2:35 PM

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.

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