CINF - Cincinnati Financial expects pretax catastrophe losses of ~$235M in Q1

2023-04-17 09:40:34 ET

• Cincinnati Financial ( NASDAQ: CINF ) said Monday it expects pretax catastrophe losses of ~$235M in first quarter of 2023.
• The catastrophe loss estimate includes $171M in aggregate for three March storms that produced tornadoes in several states, in addition to less severe storms.
• Estimated losses and expenses from catastrophe-related claims are expected to bring the company's first-quarter 2023 property casualty combined ratio to around 99% to 103%.
• Net written premium growth is estimated to be ~6% for the quarter.

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