Cincinnati Financial Corp (CINF) 10-K Annual Report February 2016



		The Cincinnati Insurance Company n The Cincinnati Indemnity Company The Cincinnati Casualty Company n The Cincinnati Specialty Underwriters Insurance Company The Cincinnati Life Insurance Company n CFC Investment Company n CSU Producer Resources Inc.

Investor Contact: Dennis E. McDaniel, 513-870-2768

CINF-IR@cinfin.com

Media Contact: Betsy E. Ertel, 513-603-5323

Media_Inquiries@cinfin.com

Cincinnati Financial Reports Fourth-Quarter and Full-Year 2015 Results

Cincinnati, February 3, 2016 – Cincinnati Financial Corporation (Nasdaq: CINF)

today reported:


•	Fourth-quarter 2015 net income of $156 million, or 94 cents per share, compared with $167 million, or $1.02 per share, in the fourth quarter of 2014.


•	Full-year 2015 net income of $634 million, or $3.83 per share, up 21 percent from $525 million, or $3.18, in 2014. Operating income of $589 million, or $3.56 per share, up 34 percent from $440 million, or $2.66 per share.


•	$11 million decrease in fourth-quarter 2015 net income reflected the after-tax net effect of two primary items: $45 million reduction in net realized investment gains that offset $28 million of improvement in the contribution from property casualty underwriting. The underwriting improvement effect was partially offset by a $14 million unfavorable impact from natural catastrophe losses.


•	$39.20 book value per share at December 31, 2015, down 94 cents or 2 percent since December 31, 2014.


•	3.4 percent value creation ratio for full-year 2015, compared with 12.6 percent for 2014.

Financial Highlights



(Dollars in millions except per share data)	Three months ended December 31,							Twelve months ended December 31,
(Dollars in millions except per share data)		2015			2014		% Change		2015		2014		% Change
Revenue Data
Earned premiums		$	1,148		$	1,086	6		$	4,480	$	4,243	6
Investment income, net of expenses		150			140		7		572		549		4
Total revenues		1,263			1,262		0		5,142		4,945		4
Income Statement Data
Net income		$	156		$	167	(7)		$	634	$	525	21
Realized investment gains and losses, net		(26		)	19		nm		45		85		(47)
Operating income*		$	182		$	148	23		$	589	$	440	34
Per Share Data (diluted)
Net income		$	0.94		$	1.02	(8)		$	3.83	$	3.18	20
Realized investment gains and losses, net		(0.16		)	0.13		nm		0.27		0.52		(48)
Operating income*		$	1.10		$	0.89	24		$	3.56	$	2.66	34

Book value									$	39.20	$	40.14	(2)
Cash dividend declared		$	0.92		$	0.44	109		$	2.30	$	1.76	31
Diluted weighted average shares outstanding		165.7			165.3		0		165.6		165.1		0


*	The Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures defines and reconciles measures presented in this release that are not based on U. S. Generally Accepted Accounting Principles.


**	Forward-looking statements and related assumptions are subject to the risks outlined in the company’s safe harbor statement.

CINF 4Q15 Release 1

The following information was filed by Cincinnati Financial Corp (CINF) on Wednesday, February 3, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Cincinnati Financial Corp provided additional information to their SEC Filing as exhibits

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.A: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.B: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: CINF
CIK: 20286
Form Type: 10-K Annual Report
Accession Number: 0000020286-16-000055
Submitted to the SEC: Fri Feb 26 2016 11:07:26 AM EST
Accepted by the SEC: Fri Feb 26 2016
Period: Thursday, December 31, 2015
Industry: Fire Marine And Casualty Insurance

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Cincinnati Financial Corp (CINF) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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