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Cincinnati improves CR despite higher cat losses

February 11, 2021

Primary insurer Cincinnati Financial improved its property casualty combined ratio to 87.3% in the fourth quarter of 2020, despite incurring higher than average catastrophe losses.

The combined ratio improved by 4.3 points from 91.6% in Q4 2019, while underwriting profit grew by 57% to $187 million over the same period.

This was despite a Q4 catastrophe loss impact that was 2.1 percentage points higher than the 10-year average.

The underwriting growth helped Cincinnati to achieve net income of $1.05 billion in the quarter, representing a 68% increase on the $626 million reported in Q4 2019.

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