The company said its 1Q24 EPS was $4.78, compared with $1.42 in 1Q23. Non-GAAP operating income rose 93% to $272 million, and it said $2.54 of the $3.36 EPS improvement came from the change in fair value of equity securities still held.

8-KRegulation FD DisclosureFiled May 28, 2024Period of report May 28, 2024Summary published (UTC) Oct 30, 2026

Key points

AI summary

The company said its 1Q24 EPS was $4.78, compared with $1.42 in 1Q23. Non-GAAP operating income rose 93% to $272 million, and it said $2.54 of the $3.36 EPS improvement came from the change in fair value of equity securities still held.
Cincinnati Financial said P&C net written premiums rose 11% and its combined ratio was 93.6%, 7.1 percentage points lower than in 1Q23. The company said the 1Q24 improvement included 6.9 points from catastrophe losses.
The company said investment income rose 17%, with interest income up 21% and dividend income up 9%. It said operating cash flow was $353 million, up 41%.
Cincinnati Financial said it is targeting an average Value Creation Ratio of 10% to 13% over the next 5 years. It said the VCR averaged 15.2% for 2019 through 2023, and that the actual VCR on an annualized basis was 5.9% for 1Q24.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Q1 2024 EPS of $4.78, Non-GAAP Operating Income of $272 million

The company said its 1Q24 EPS was $4.78, compared with $1.42 in 1Q23. Non-GAAP operating income rose 93% to $272 million, and it said $2.54 of the $3.36 EPS improvement came from the change in fair value of equity securities still held.

Source · Based on the filing body and exhibits

Q1 P&C Net Written Premiums Up 11%, Combined Ratio at 93.6%

Cincinnati Financial said P&C net written premiums rose 11% and its combined ratio was 93.6%, 7.1 percentage points lower than in 1Q23. The company said the 1Q24 improvement included 6.9 points from catastrophe losses.

Source · Based on the filing body and exhibits

Q1 Investment Income Up 17%, Operating Cash Flow of $353 million

The company said investment income rose 17%, with interest income up 21% and dividend income up 9%. It said operating cash flow was $353 million, up 41%.

Source · Based on the filing body and exhibits

Long-Term VCR Target Averaging 10% to 13% Annually

Cincinnati Financial said it is targeting an average Value Creation Ratio of 10% to 13% over the next 5 years. It said the VCR averaged 15.2% for 2019 through 2023, and that the actual VCR on an annualized basis was 5.9% for 1Q24.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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