- 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 .
For further details see:
Cincinnati Financial Q3 results top estimates on premium growth, investment income