CINF - Cincinnati Financial Q3 results top estimates on premium growth investment income

• Cincinnati Financial ( NASDAQ: CINF ) third-quarter results came in stronger than expected Monday as the property and casualty insurer saw solid growth in earned premiums and investment income from the year-ago quarter.
• Q3 adjusted operating income of $0.73 topped the average analyst estimate of $0.67 but slid from $1.28 at Sept. 30, 2021.
• Earned premiums of $1.88B also surpassed the $1.61B consensus and gained from $1.67B a year before.
• Net investment income  totaled $193M, up from $179M in Q3 of last year.
• Combined ratio came in at 103.9% compared with 92.6% in Q3 2021, driven partly by losses from Hurricane Ian during the quarter.
• Underwriting loss was $66M versus a profit of $121M a year earlier.
• Net written premiums were $1.75B, up from $1.54B in Q3 2021.
• Conference call on Tuesday at 11:00 a.m. ET.
• Earlier, Cincinnati Financial Non-GAAP EPS of $0.73 beats by $0.06, earned premiums of $1.88B beats by $270M .

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