Summary
Cincinnati Financial Corporation (CINF) reported a net income of $27 million for the second quarter of 2010, a significant improvement from a net loss of $19 million in the same period of 2009. For the first six months of 2010, net income reached $95 million, up from $17 million in the prior year. This turnaround was primarily driven by improved property casualty underwriting results and a notable increase in investment income. Total revenues remained relatively flat year-over-year for both the quarter and the six-month period. However, the company's balance sheet showed modest growth, with total assets increasing to $14.6 billion from $14.4 billion at year-end 2009. Shareholders' equity saw a slight decrease to $4.737 billion from $4.760 billion, resulting in a marginal decline in book value per share. The company continued to return value to shareholders through dividends, with cash dividends declared increasing slightly in the first half of 2010.
Financial Highlights
30 data points| Revenue | $878.00M |
| Interest Expense | $13.00M |
| Net Income | $27.00M |
| EPS (Basic) | $0.17 |
| EPS (Diluted) | $0.17 |
Key Highlights
- 1Net income of $27 million for Q2 2010, a substantial turnaround from a $19 million loss in Q2 2009.
- 2Year-to-date net income of $95 million, a significant increase from $17 million in the first six months of 2009, driven by improved underwriting and investment income.
- 3Earned premiums remained stable year-over-year, with a slight decrease of 1% for the quarter and 2% for the six-month period.
- 4Investment income, net of expenses, increased by 9% for the quarter and 7% for the six-month period.
- 5Total assets grew to $14.6 billion as of June 30, 2010, from $14.4 billion at December 31, 2009.
- 6Shareholders' equity slightly decreased to $4.737 billion from $4.760 billion at year-end 2009, with book value per share declining marginally.
- 7The company declared cash dividends totaling $0.79 per share for the first six months of 2010, a 1% increase year-over-year.