Exhibit



	Cincinnati Financial Corporation
	Supplemental Financial Data
	for the period ending June 30, 2016

		Page
	Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures	3

Consolidated
	Quick Reference	4
	CFC and Subsidiaries Consolidation – Six Months Ended June 30, 2016	5
	CFC and Subsidiaries Consolidation – Three Months Ended June 30, 2016	6
	CFC Insurance Subsidiaries – Selected Balance Sheet Data	7


Consolidated Property Casualty Insurance Operations
	Statutory Statements of Income	8
	Consolidated Cincinnati Insurance Companies – Losses Incurred Detail	9
	Consolidated Cincinnati Insurance Companies – Loss Ratio Detail	10
	Consolidated Cincinnati Insurance Companies – Loss Claim Count Detail	11
	Direct Written Premiums by Risk State by Line of Business	12
	Quarterly Property Casualty Data – Commercial Lines	13
	Quarterly Property Casualty Data – Personal Lines and Excess & Surplus Lines	14
	Loss and Loss Expense Analysis – Six Months Ended June 30, 2016	15
	Loss and Loss Expense Analysis – Three Months Ended June 30, 2016	16

Reconciliation Data
	Quarterly Property Casualty Data – Consolidated	17
	Quarterly Property Casualty Data – Commercial Lines	18
	Quarterly Property Casualty Data – Personal Lines	19
	Quarterly Property Casualty Data – Excess & Surplus Lines	20

Life Insurance Operations
	Statutory Statements of Income	21

Management uses certain non-GAAP and non-statutory financial measures to evaluate its primary business areas – property casualty insurance, life insurance and investments. Management uses these measures when analyzing both GAAP and non-GAAP measures to improve its understanding of trends in the underlying business and to help avoid incorrect or misleading assumptions and conclusions about the success or failure of company strategies. Management adjustments to GAAP measures generally: apply to non-recurring events that are unrelated to business performance and distort short-term results; involve values that fluctuate based on events outside of management’s control; supplement reporting segment disclosures with disclosures for a subsidiary company or for a combination of subsidiaries or reporting segments; or relate to accounting refinements that affect comparability between periods, creating a need to analyze data on the same basis.



Cincinnati Financial Corporation
Quick Reference					—	Second Quarter 2016
(all data shown is for the three months ended or as of June 30, 2016)

(Dollars in millions except per share data)	6/30/2016		Year over year change %				6/30/2016			Year over year change %
Revenues:						Benefits and expenses:

Commercial lines net written premiums	$	797	1			Commercial lines loss and loss expenses	$	500		20
Personal lines net written premiums	330		7			Personal lines loss and loss expenses	224			4
Excess & surplus lines net written premiums	51		11			Excess & surplus lines loss and loss expenses	27			29
Cincinnati Re net written premiums	16		nm			Cincinnati Re loss and loss expenses	8			nm
Property casualty net written premiums	$	1,194	5			Life and health contract holders' benefits incurred	62			7
Life and accident and health net written premiums	$	59	5			Underwriting, acquisition and insurance expenses	366			8
Annuity net written premiums	14		56			Interest expenses	13			0
Life, annuity and accident and health net written premiums	$	73	12			Other operating expenses	5			67
Commercial lines net earned premiums	$	771	3			Total benefits & expenses	$	1,205		13
Personal lines net earned premiums	288		6			Income before income taxes	166			(33	)
Excess & surplus lines net earned premiums	45		7			Total income tax	43			(40	)
Cincinnati Re net earned premiums	10		nm
Property casualty net earned premiums	$	1,114	5			Balance Sheet:
Life and accident and health net earned premiums	59		13
Investment income	149		6			Fixed maturity investments	$	10,138
Realized investment gains and losses, net	44		(27	)		Equity securities	5,242
Fee revenue	3		0			Other investments	79
Other revenue	2		0			Total invested assets	$	15,459
Total revenues	1,371		4
						Loss and loss expense reserves	$	4,970
						Life policy and investment contract reserves	2,624
						Long-term debt and capital lease obligations	825
Income:						Shareholders' equity	6,971

Operating income	$	95	(31	)		Key ratios:
Realized investment gains and losses, net	28		(26	)
Net income	123		(30	)		Commercial lines GAAP combined ratio	96.8		%
						Personal lines GAAP combined ratio	107.5
						Excess & surplus lines GAAP combined ratio	87.4
						Cincinnati Re GAAP combined ratio	109.0
						Property casualty GAAP combined ratio	99.3
Per share (diluted):
						Commercial lines STAT combined ratio	95.8		%
Operating income	$	0.57	(31	)		Personal lines STAT combined ratio	105.2
Realized investment gains and losses, net	0.17		(26	)		Excess & surplus lines STAT combined ratio	87.9
Net income	0.74		(30	)		Cincinnati Re STAT combined ratio	107.5
						Property casualty STAT combined ratio	97.9
Book value	42.37		7
Weighted average shares outstanding	166.5		1			Value creation ratio	4.6		%



Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Six Months Ended June 30, 2016

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		ELIM			Total
Revenues
Premiums earned:
Property casualty	$	—		$	2,287		$	—		$	—	$	—		$	2,287
Life	—			—			146			—		—			146
Premiums ceded	—			(77		)	(29		)	—		—			(106		)
Total earned premium	—			2,210			117			—		—			2,327
Investment income, net of expenses	26			191			77			—		—			294
Realized investment gains, net	19			85			1			—		—			105
Fee revenues	—			4			2			—		—			6
Other revenues	8			1			—			2		(8		)	3
Total revenues	$	53		$	2,491		$	197		$	2	$	(8	)	$	2,735

Benefits & expenses
Losses & contract holders' benefits	$	—		$	1,461		$	156		$	—	$	—		$	1,617
Reinsurance recoveries	—			(41		)	(31		)	—		—			(72		)
Underwriting, acquisition and insurance expenses	—			688			38			—		—			726
Interest expense	26			—			—			—		—			26
Other operating expenses	14			—			—			1		(8		)	7
Total expenses	$	40		$	2,108		$	163		$	1	$	(8	)	$	2,304

Income before income taxes	$	13		$	383		$	34		$	1	$	—		$	431

Provision (benefit) for income taxes
Current operating income	$	(7	)	$	87		$	(4	)	$	—	$	—		$	76
Capital gains/losses	7			30			—			—					37
Deferred	(1		)	(8		)	16			—		—			7
Total provision for income taxes	$	(1	)	$	109		$	12		$	—	$	—		$	120

Operating income	$	2		$	219		$	21		$	1	$	—		$	243

Net income - current year	$	14		$	274		$	22		$	1	$	—		$	311

Net income - prior year	$	6		$	274		$	20		$	1	$	3		$	304
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.



Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended June 30, 2016

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		ELIM			Total
Revenues
Premiums earned:
Property casualty	$	—		$	1,153		$	—		$	—	$	—		$	1,153
Life	—			—			75			—		—			75
Premiums ceded	—			(39		)	(16		)	—		—			(55		)
Total earned premium	—			1,114			59			—		—			1,173
Investment income, net of expenses	13			97			39			—		—			149
Realized investment gains, net	3			41			—			—		—			44
Fee revenues	—			2			1			—		—			3
Other revenues	4			1			—			1		(4		)	2
Total revenues	$	20		$	1,255		$	99		$	1	$	(4	)	$	1,371

Benefits & expenses
Losses & contract holders' benefits	$	—		$	803		$	80		$	—	$	—		$	883
Reinsurance recoveries	—			(44		)	(18		)	—		—			(62		)
Underwriting, acquisition and insurance expenses	—			347			19			—		—			366
Interest expense	13			—			—			—		—			13
Other operating expenses	8			—			—			1		(4		)	5
Total expenses	$	21		$	1,106		$	81		$	1	$	(4	)	$	1,205

Income before income taxes	$	(1	)	$	149		$	18		$	—	$	—		$	166

Provision (benefit) for income taxes
Current operating income	$	(4	)	$	36		$	—		$	—	$	—		$	32
Capital gains/losses	1			15			—			—		—			16
Deferred	—			(11		)	6			—		—			(5		)
Total provision for income taxes	$	(3	)	$	40		$	6		$	—	$	—		$	43

Operating income	$	—		$	83		$	12		$	—	$	—		$	95

Net income - current year	$	2		$	109		$	12		$	—	$	—		$	123

Net income - prior year	$	6		$	159		$	11		$	—	$	—		$	176
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.



Cincinnati Financial Corporation Insurance Subsidiaries
Selected Balance Sheet Data

(Dollars in millions)
	12/31/2016	9/30/2016	6/30/2016		3/31/2016		12/31/2015		9/30/2015		6/30/2015		3/31/2015
Cincinnati Insurance Consolidated
Fixed maturities (fair value)			$	6,758	$	6,607	$	6,435	$	6,472	$	6,435	$	6,325
Equities (fair value)			3,443		3,222		3,101		2,961		3,108		3,108
Fixed maturities - pretax net unrealized gain			414		301		234		283		280		387
Equities - pretax net unrealized gain			1,395		1,302		1,203		1,063		1,297		1,397
Loss and loss expense reserves - STAT			4,611		4,480		4,382		4,366		4,357		4,302
Equity - GAAP			5,848		5,655		5,444		5,397		5,485		5,593
Surplus - STAT			4,600		4,534		4,413		4,324		4,419		4,436

The Cincinnati Life Insurance Company
Fixed maturities (fair value)			$	3,320	$	3,215	$	3,154	$	3,221	$	3,176	$	3,199
Equities (fair value)			9		9		9		9		8		9
Fixed maturities - pretax net unrealized gain			186		124		76		133		151		220
Equities - pretax net unrealized gain			4		4		4		4		3		4
Equity - GAAP			962		911		872		897		896		927
Surplus - STAT			205		207		208		215		217		219



Consolidated Cincinnati Insurance Companies
Statutory Statements of Income

	For the Three Months Ended June 30,										For the Six Months Ended June 30,
(Dollars in millions)	2016			2015		Change			% Change		2016		2015		Change			% Change
Underwriting income
Net premiums written	$	1,194		$	1,142	$	52		5		$	2,341	$	2,208	$	133		6
Unearned premiums increase	80			83		(3		)	(4	)	131		108		23			21
Earned premiums	$	1,114		$	1,059	$	55		5		$	2,210	$	2,100	$	110		5

Losses incurred	$	655		$	558	$	97		17		$	1,206	$	1,125	$	81		7
Defense and cost containment expenses incurred	36			39		(3		)	(8	)	84		99		(15		)	(15	)
Adjusting and other expenses incurred	68			57		11			19		130		119		11			9
Other underwriting expenses incurred	353			327		26			8		692		643		49			8
Workers compensation dividend incurred	3			3		—			—		7		7		—			—

Total underwriting deductions	$	1,115		$	984	$	131		13		$	2,119	$	1,993	$	126		6
Net underwriting profit (loss)	$	(1	)	$	75	$	(76	)	nm		$	91	$	107	$	(16	)	(15	)

Investment income
Gross investment income earned	$	96		$	94	$	2		2		$	194	$	186	$	8		4
Net investment income earned	94			92		2			2		191		183		8			4
Net realized capital gains	28			34		(6		)	(18	)	59		60		(1		)	(2	)
Net investment gains (net of tax)	$	122		$	126	$	(4	)	(3	)	$	250	$	243	$	7		3

Other income	$	2		$	2	$	—		—		$	3	$	4	$	(1	)	(25	)

Net income before federal income taxes	$	123		$	203	$	(80	)	(39	)	$	344	$	354	$	(10	)	(3	)
Federal and foreign income taxes incurred	$	34		$	53	$	(19	)	(36	)	$	88	$	84	$	4		5
Net income (statutory)	$	89		$	150	$	(61	)	(41	)	$	256	$	270	$	(14	)	(5	)
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.



Consolidated Cincinnati Insurance Companies
Losses Incurred Detail
(Dollars in millions)	Three months ended																			Six months ended					Nine months ended			Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15		6/30/16			6/30/15		9/30/16	9/30/15		12/31/16	12/31/15
Consolidated
Current accident year losses greater than $5,000,000			$	23		$	—		$	4		$	8		$	5		$	12	$	23		$	17		$	25		$	29
Current accident year losses $1,000,000-$5,000,000			34			42			57			43			24			37		76			61			104			161
Large loss prior accident year reserve development			3			—			(3		)	19			(4		)	15		3			11			30			27
Total large losses incurred			$	60		$	42		$	58		$	70		$	25		$	64	$	102		$	89		$	159		$	217
Losses incurred but not reported			34			73			20			(31		)	38			43		107			81			50			70
Other losses excluding catastrophe losses			399			402			406			441			417			418		801			835			1,276			1,682
Catastrophe losses			163			33			12			24			78			42		196			120			144			156
Total losses incurred			$	656		$	550		$	496		$	504		$	558		$	567	$	1,206		$	1,125		$	1,629		$	2,125
Commercial Lines
Current accident year losses greater than $5,000,000			$	23		$	—		$	4		$	8		$	5		$	12	$	23		$	17		$	25		$	29
Current accident year losses $1,000,000-$5,000,000			33			36			48			26			14			24		69			38			64			112
Large loss prior accident year reserve development			4			(1		)	(3		)	17			(4		)	15		3			11			28			25
Total large losses incurred			$	60		$	35		$	49		$	51		$	15		$	51	$	95		$	66		$	117		$	166
Losses incurred but not reported			2			64			20			(17		)	17			31		66			48			31			51
Other losses excluding catastrophe losses			244			255			253			277			274			272		499			546			823			1,076
Catastrophe losses			126			25			7			9			43			29		151			72			81			88
Total losses incurred			$	432		$	379		$	329		$	320		$	349		$	383	$	811		$	732		$	1,052		$	1,381
Personal Lines
Current accident year losses greater than $5,000,000			$	—		$	—		$	—		$	—		$	—		$	—	$	—		$	—		$	—		$	—
Current accident year losses $1,000,000-$5,000,000			—			6			8			15			10			12		6			22			37			45
Large loss prior accident year reserve development			(2		)	1			—			—			—			—		(1		)	—			—			—
Total large losses incurred			$	(2	)	$	7		$	8		$	15		$	10		$	12	$	5		$	22		$	37		$	45
Losses incurred but not reported			23			11			9			(12		)	14			7		34			21			9			18
Other losses excluding catastrophe losses			141			133			141			155			136			134		274			270			425			566
Catastrophe losses			35			8			4			15			34			13		43			47			62			66
Total losses incurred			$	197		$	159		$	162		$	173		$	194		$	166	$	356		$	360		$	533		$	695
Excess & Surplus Lines
Current accident year losses greater than $5,000,000			$	—		$	—		$	—		$	—		$	—		$	—	$	—		$	—		$	—		$	—
Current accident year losses $1,000,000-$5,000,000			1			—			1			2			—			1		1			1			3			4
Large loss prior accident year reserve development			1			—			1			2			—			—		1			—			2			3
Total large losses incurred			$	2		$	—		$	2		$	4		$	—		$	1	$	2		$	1		$	5		$	7
Losses incurred but not reported			9			(2		)	(8		)	(2		)	7			5		7			12			10			2
Other losses excluding catastrophe losses			5			9			7			9			7			12		14			19			28			35
Catastrophe losses			2			—			—			—			1			—		2			1			1			1
Total losses incurred			$	18		$	7		$	1		$	11		$	15		$	18	$	25		$	33		$	44		$	45

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. The sum of quarterly amounts may not equal the full year as each is computed independently.



Consolidated Cincinnati Insurance Companies
Loss Ratio Detail
	Three months ended														Six months ended				Nine months ended			Twelve months ended
	12/31/16	9/30/16	6/30/16		3/31/16		12/31/15		9/30/15		6/30/15		3/31/15		6/30/16		6/30/15		9/30/16	9/30/15		12/31/16	12/31/15
Consolidated
Current accident year losses greater than $5,000,000			2.0	%	—	%	0.5	%	0.7	%	0.5	%	1.0	%	1.0	%	0.8	%		0.8	%		0.7	%
Current accident year losses $1,000,000-$5,000,000			3.1		3.8		5.2		4.1		2.1		3.6		3.5		2.9			3.3			3.8
Large loss prior accident year reserve development			0.3		—		(0.2	)	1.7		(0.3	)	1.4		0.1		0.5			0.9			0.6
Total large loss ratio			5.4	%	3.8	%	5.5	%	6.5	%	2.3	%	6.0	%	4.6	%	4.2	%		5.0	%		5.1	%
Losses incurred but not reported			3.1		6.6		1.9		(2.9	)	3.6		4.2		4.8		3.9			1.6			1.6
Other losses excluding catastrophe losses			35.7		36.8		36.9		40.9		39.6		40.1		36.2		39.8			40.2			39.5
Catastrophe losses			14.6		3.0		1.0		2.3		7.3		4.1		8.9		5.7			4.5			3.6
Total loss ratio			58.8	%	50.2	%	45.3	%	46.8	%	52.8	%	54.4	%	54.5	%	53.6	%		51.3	%		49.8	%
Commercial Lines
Current accident year losses greater than $5,000,000			2.9	%	—	%	0.7	%	1.0	%	0.7	%	1.6	%	1.5	%	1.2	%		1.1	%		1.0	%
Current accident year losses $1,000,000-$5,000,000			4.2		4.8		6.2		3.7		1.7		3.3		4.5		2.6			2.9			3.7
Large loss prior accident year reserve development			0.6		(0.2	)	(0.4	)	2.3		(0.5	)	2.0		0.2		0.7			1.3			0.8
Total large loss ratio			7.7	%	4.6	%	6.5	%	7.0	%	1.9	%	6.9	%	6.2	%	4.5	%		5.3	%		5.5	%
Losses incurred but not reported			0.3		8.4		2.8		(2.4	)	2.2		4.3		4.3		3.2			1.3			1.7
Other losses excluding catastrophe losses			31.6		33.6		33.1		36.3		37.0		37.1		32.6		37.0			36.8			35.9
Catastrophe losses			16.4		3.3		0.9		1.3		5.8		4.0		9.9		4.9			3.7			3.0
Total loss ratio			56.0	%	49.9	%	43.3	%	42.2	%	46.9	%	52.3	%	53.0	%	49.6	%		47.1	%		46.1	%
Personal Lines
Current accident year losses greater than $5,000,000			—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%		—	%		—	%
Current accident year losses $1,000,000-$5,000,000			—		1.9		3.1		5.2		3.5		4.5		1.0		4.1			4.5			4.1
Large loss prior accident year reserve development			(0.7	)	0.5		—		(0.2	)	0.1		—		(0.1	)	—			—			—
Total large loss ratio			(0.7	)%	2.4	%	3.1	%	5.0	%	3.6	%	4.5	%	0.9	%	4.1	%		4.5	%		4.1	%
Losses incurred but not reported			8.1		3.8		3.1		(4.2	)	5.1		2.7		6.0		3.9			1.1			1.6
Other losses excluding catastrophe losses			48.9		47.1		49.9		56.3		50.0		49.9		47.9		49.8			52.0			51.6
Catastrophe losses			12.2		2.9		1.6		5.4		12.5		4.9		7.6		8.7			7.6			6.0
Total loss ratio			68.5	%	56.2	%	57.7	%	62.5	%	71.2	%	62.0	%	62.4	%	66.5	%		65.2	%		63.3	%
Excess & Surplus Lines
Current accident year losses greater than $5,000,000			—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%		—	%		—	%
Current accident year losses $1,000,000-$5,000,000			2.2		—		2.3		4.8		—		2.5		1.1		1.2			2.5			2.4
Large loss prior accident year reserve development			1.7		(0.4	)	1.5		5.0		—		—		0.7		—			1.7			1.7
Total large loss ratio			3.9	%	(0.4	)%	3.8	%	9.8	%	—	%	2.5	%	1.8	%	1.2	%		4.2	%		4.1	%
Losses incurred but not reported			20.3		(5.4	)	(19.5	)	(4.4	)	18.3		11.8		7.8		15.1			8.4			1.0
Other losses excluding catastrophe losses			12.7		20.8		16.8		21.2		17.5		29.9		16.6		23.5			22.7			21.2
Catastrophe losses			3.1		0.1		—		0.3		0.4		0.8		1.7		0.6			0.5			0.4
Total loss ratio			40.0	%	15.1	%	1.1	%	26.9	%	36.2	%	45.0	%	27.9	%	40.4	%		35.8	%		26.7	%
*Certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.



Consolidated Cincinnati Insurance Companies
Loss Claim Count Detail
	Three months ended								Six months ended		Nine months ended		Twelve months ended
	12/31/16	9/30/16	6/30/16	3/31/16	12/31/15	9/30/15	6/30/15	3/31/15	6/30/16	6/30/15	9/30/16	9/30/15	12/31/16	12/31/15
Consolidated
Current accident year reported losses greater than $5,000,000			3	—	1	1	1	2	3	3		4		5
Current accident year reported losses $1,000,000 - $5,000,000			15	27	37	28	14	27	46	42		74		112
Prior accident year reported losses on large losses			17	10	8	6	9	15	27	27		35		46
Non-Catastrophe reported losses on large losses total			35	37	46	35	24	44	76	72		113		163
Commercial Lines
Current accident year reported losses greater than $5,000,000			3	—	1	1	1	2	3	3		4		5
Current accident year reported losses $1,000,000 - $5,000,000			14	23	29	17	9	18	41	26		46		77
Prior accident year reported losses on large losses			15	8	6	5	9	14	23	26		32		41
Non-Catastrophe reported losses on large losses total			32	31	36	23	19	34	67	55		82		123
Personal Lines
Current accident year reported losses greater than $5,000,000			—	—	—	—	—	—	—	—		—		—
Current accident year reported losses $1,000,000 - $5,000,000			—	4	7	9	5	8	4	15		25		31
Prior accident year reported losses on large losses			1	2	1	—	—	1	3	1		1		2
Non-Catastrophe reported losses on large losses total			1	6	8	9	5	9	7	16		26		33
Excess & Surplus Lines
Current accident year reported losses greater than $5,000,000			—	—	—	—	—	—	—	—		—		—
Current accident year reported losses $1,000,000 - $5,000,000			1	—	1	2	—	1	1	1		3		4
Prior accident year reported losses on large losses			1	—	1	1	—	—	1	—		2		3
Non-Catastrophe reported losses on large losses total			2	—	2	3	—	1	2	1		5		7
*The sum of quarterly amounts may not equal the full year as each is computed independently.



Consolidated Cincinnati Insurance Companies
Direct Written Premiums by Risk State by Line of Business for the Six Months Ended June 30, 2016
	Commercial Lines										Personal Lines						E & S		Consolidated				Comm'l Change %		Personal Change %		E & S Change %		Consol Change %
Risk State	Comm Casualty		Comm Property		Comm Auto		Workers' Comp		Other Comm		Personal Auto		Home Owner		Other Personal		All Lines		2016		2015
																			Total		Total

OH	$	87.5	$	74.5	$	45.3	$	—	$	17.9	$	65.0	$	53.4	$	17.3	$	8.0	$	368.9	$	358.0	4.9		—		6.9		3.1
IL	35.7		29.6		17.0		28.1		6.8		15.3		15.1		4.0		6.8		158.4		155.9		2.8		(2.7	)	5.6		1.6
IN	29.9		27.9		16.8		17.2		6.1		16.7		17.8		3.9		5.7		142.0		141.5		0.6		(0.9	)	6.4		0.4
PA	33.5		25.1		21.0		26.5		5.7		7.1		5.5		2.1		4.5		131.0		129.6		0.6		3.1		8.1		1.1
GA	22.1		19.8		15.8		8.4		6.1		23.2		22.3		5.6		7.1		130.4		121.0		6.0		7.7		30.0		7.7
MI	23.8		19.6		13.6		10.1		5.2		27.2		17.4		2.9		3.8		123.6		115.9		3.3		13.6		(6.1	)	6.7
NC	24.1		27.7		12.2		9.0		5.9		17.9		15.2		4.3		3.9		120.2		112.0		5.9		9.8		11.2		7.2
TN	21.6		21.4		11.7		5.0		5.5		10.2		12.1		3.0		2.6		93.1		87.0		6.8		6.4		22.2		7.0
KY	15.1		18.3		11.0		2.1		3.2		14.4		13.5		3.1		2.8		83.5		78.9		7.3		3.7		5.1		5.9
AL	14.2		16.6		6.7		0.3		3.5		11.6		16.8		3.5		4.0		77.2		78.3		(5.1	)	3.6		(0.5	)	(1.5	)
VA	18.9		16.0		11.5		9.1		5.0		6.6		5.3		1.8		2.4		76.6		75.6		0.3		8.6		(9.0	)	1.3
WI	17.6		13.8		8.2		16.9		3.3		4.6		4.7		1.9		2.1		73.1		70.6		3.0		2.4		37.8		3.7
MN	17.7		13.4		6.1		6.7		2.5		9.7		9.7		2.0		3.2		71.0		71.2		(2.4	)	1.5		24.2		(0.3	)
TX	25.7		15.1		15.6		0.9		2.8		—		—		—		8.5		68.6		63.9		8.1		132.7		1.7		7.3
MO	16.6		18.0		8.5		7.8		3.0		3.7		5.3		1.1		4.1		68.1		62.6		7.4		13.3		14.9		8.7
NY	17.4		9.1		6.3		1.9		2.0		3.7		3.8		1.4		1.0		46.6		40.8		2.9		141.5		(25.7	)	14.3
MD	11.4		6.8		8.2		5.8		1.7		5.1		4.1		1.1		1.4		45.6		42.9		0.8		31.3		(7.2	)	6.1
IA	9.3		9.1		4.1		7.6		2.6		2.4		2.7		0.9		1.1		39.8		42.8		(8.2	)	(0.4	)	(6.1	)	(7.0	)
AR	6.3		10.7		4.0		1.1		2.1		5.4		6.0		1.4		1.8		38.8		36.5		4.3		8.0		21.1		6.2
FL	14.6		7.9		4.6		0.5		1.4		2.3		0.9		0.4		3.9		36.5		35.6		(0.2	)	9.2		19.7		2.5
AZ	9.2		5.7		6.4		3.3		1.3		3.3		2.5		0.9		1.9		34.5		31.6		8.7		13.8		3.6		9.4
SC	6.7		6.5		5.0		1.7		1.7		5.6		4.0		1.0		1.8		34.0		30.5		8.4		19.2		7.1		11.5
UT	9.9		5.2		6.8		0.3		1.8		4.5		2.4		0.6		1.7		33.2		30.9		6.8		7.4		17.4		7.4
KS	6.3		7.8		3.6		3.4		1.6		2.4		3.5		0.7		1.1		30.4		30.2		0.6		(3.3	)	42.5		0.8
CO	10.1		5.4		6.3		0.3		1.1		—		0.2		—		3.8		27.2		25.2		6.3		35.1		15.0		7.6
MT	10.2		5.5		5.6		—		0.7		1.4		1.4		0.3		0.3		25.4		23.6		9.8		(4.0	)	1.2		7.8
OR	7.1		4.0		5.0		0.1		1.0		2.0		1.0		0.3		2.8		23.3		18.7		21.6		60.2		12.5		24.7
NE	5.3		6.0		2.7		5.0		1.1		0.4		0.6		0.2		0.9		22.2		21.7		2.2		5.0		(3.2	)	2.1
ID	7.3		4.2		4.2		0.1		1.0		1.8		1.2		0.3		0.8		20.9		20.6		0.2		6.1		9.7		1.5
WV	4.9		4.6		3.8		0.6		0.7		—		0.2		0.1		1.7		16.6		17.4		(6.5	)	0.7		13.2		(4.7	)
VT	2.4		2.6		1.3		2.8		0.8		0.8		0.8		0.2		0.5		12.2		12.4		(4.9	)	11.1		31.3		(1.7	)
WA	4.3		2.8		3.1		—		0.9		—		—		—		1.0		12.1		10.5		16.3		(100.0	)	8.5		15.7
CT	2.3		2.3		1.1		1.2		0.4		1.8		1.7		0.6		0.7		12.1		8.1		11.3		253.9		110.3		49.5
NM	4.3		2.7		3.1		0.4		0.8		—		—		—		0.4		11.7		10.8		9.4		61.1		—		9.0
ND	4.5		2.8		2.2		—		0.6		0.5		0.4		0.1		0.1		11.2		12.1		(9.1	)	5.3		(5.4	)	(8.0	)
NH	2.1		1.8		1.0		1.6		0.5		0.9		0.9		0.3		0.4		9.5		9.4		(1.1	)	4.6		9.7		0.5
DE	2.9		2.0		1.4		1.2		0.6		—		—		—		0.4		8.5		7.6		10.9		nm		35.7		11.8
SD	1.6		1.9		1.1		1.5		0.6		—		—		—		0.4		7.1		6.6		6.8		0.3		20.6		7.3
WY	1.5		1.2		0.7		—		0.2		—		—		—		0.4		4.0		3.8		4.5		20.4		25.2		6.2
NJ	0.6		0.2		0.2		1.2		0.1		0.1		0.2		0.1		0.1		2.8		1.8		31.1		nm		551.0		57.9
All Other	2.1		1.0		1.3		2.9		0.8		—		—		—		0.7		8.8		9.0		(2.4	)	50.9		6.8		(1.6	)
Total	$	568.6	$	476.6	$	314.1	$	192.6	$	110.6	$	277.6	$	252.6	$	67.4	$	100.6	$	2,360.7	$	2,263.1	3.3		6.2		9.5		4.3
Other Direct	—		1.2		3.8		1.3		—		5.2		—		—		—		11.5		12.5		(8.4	)	(7.3	)	nm		(7.9	)
Total Direct	$	568.6	$	477.8	$	317.9	$	193.9	$	110.6	$	282.8	$	252.6	$	67.4	$	100.6	$	2,372.2	$	2,275.6	3.3		6.1		9.5		4.2
Dollar amounts shown are rounded to the nearest hundred thousand; certain amounts may not add due to rounding. Percentage changes are calculated based on whole dollar amounts. nm - Not meaningful



Quarterly Property Casualty Data - Commercial Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15			6/30/16			6/30/15			9/30/16	9/30/15			12/31/16	12/31/15
Commercial casualty:
Written premiums			$	278		$	285		$	238		$	247		$	274		$	266		$	563		$	540			$	787			$	1,025
Earned premiums			263			257			257			257			252			244			520			496				753				1,010
Current accident year before catastrophe losses			58.7		%	60.2		%	61.5		%	53.6		%	59.6		%	59.2		%	59.5		%	59.4		%		57.4		%		58.5		%
Current accident year catastrophe losses			—			—			—			—			—			—			—			—				—				—
Prior accident years before catastrophe losses			(7.5		)	(1.2		)	(10.6		)	(6.2		)	(9.1		)	1.1			(4.4		)	(4.1		)		(4.8		)		(6.3		)
Prior accident years catastrophe losses			—			—			—			—			—			—			—			—				—
Total loss and loss expense ratio			51.2		%	59.0		%	50.9		%	47.4		%	50.5		%	60.3		%	55.1		%	55.3		%		52.6		%		52.2		%
Commercial property:
Written premiums			$	223		$	225		$	203		$	218		$	218		$	206		$	448		$	424			$	642			$	845
Earned premiums			215			214			211			205			201			196			429			399				604				815
Current accident year before catastrophe losses			36.3		%	51.4		%	44.1		%	47.0		%	42.1		%	53.6		%	43.8		%	47.8		%		47.5		%		46.6		%
Current accident year catastrophe losses			57.6			13.6			5.0			5.2			19.6			16.7			35.7			18.2				13.8				11.5
Prior accident years before catastrophe losses			(5.4		)	(1.7		)	3.0			(0.2		)	(2.0		)	(1.9		)	(3.6		)	(2.0		)		(1.4		)		(0.3		)
Prior accident years catastrophe losses			(1.0		)	(2.2		)	(1.3		)	0.3			0.1			(3.8		)	(1.6		)	(1.8		)		(1.1		)		(1.1		)
Total loss and loss expense ratio			87.5		%	61.1		%	50.8		%	52.3		%	59.8		%	64.6		%	74.3		%	62.2		%		58.8		%		56.7		%
Commercial auto:
Written premiums			$	156		$	158		$	140		$	137		$	149		$	149		$	314		$	298			$	435			$	575
Earned premiums			147			144			145			141			139			136			291			275				416				561
Current accident year before catastrophe losses			76.3		%	77.5		%	71.2		%	71.4		%	75.8		%	72.3		%	76.9		%	74.1		%		73.1		%		72.6		%
Current accident year catastrophe losses			2.2			0.6			0.1			—			1.3			—			1.4			0.7				0.5				0.4
Prior accident years before catastrophe losses			9.1			5.7			3.0			3.2			8.3			8.6			7.4			8.4				6.6				5.7
Prior accident years catastrophe losses			—			(0.1		)	—			(0.1		)	(0.2		)	(0.1		)	(0.1		)	(0.2		)		(0.1		)		(0.1		)
Total loss and loss expense ratio			87.6		%	83.7		%	74.3		%	74.5		%	85.2		%	80.8		%	85.6		%	83.0		%		80.1		%		78.6		%
Workers' compensation:
Written premiums			$	86		$	105		$	81		$	83		$	89		$	104		$	191		$	193			$	276			$	357
Earned premiums			89			89			91			93			90			93			178			183				276				367
Current accident year before catastrophe losses			70.9		%	73.3		%	73.2		%	71.1		%	77.6		%	71.5		%	72.2		%	74.5		%		73.4		%		73.3		%
Current accident year catastrophe losses			—			—			—			—			—			—			—			—				—				—
Prior accident years before catastrophe losses			(25.5		)	(14.5		)	(14.0		)	(26.4		)	(44.8		)	(16.1		)	(20.1		)	(30.3		)		(29.0		)		(25.3		)
Prior accident years catastrophe losses			—			—			—			—			—			—			—			—				—				—
Total loss and loss expense ratio			45.4		%	58.8		%	59.2		%	44.7		%	32.8		%	55.4		%	52.1		%	44.2		%		44.4		%		48.0		%
Other commercial:
Written premiums			$	54		$	54		$	50		$	60		$	55		$	58		$	108		$	113			$	173			$	223
Earned premiums			57			56			57			61			61			64			113			125				186				243
Current accident year before catastrophe losses			37.8		%	46.3		%	37.3		%	45.9		%	42.7		%	54.4		%	42.1		%	48.6		%		47.7		%		45.3		%
Current accident year catastrophe losses			3.8			0.6			0.4			1.2			3.4			9.7			2.2			6.6				4.9				3.8
Prior accident years before catastrophe losses			(28.2		)	(22.9		)	(2.9		)	(9.8		)	(13.6		)	(0.2		)	(25.5		)	(6.7		)		(7.7		)		(6.6		)
Prior accident years catastrophe losses			1.3			0.2			(0.7		)	(2.1		)	1.2			(2.6		)	0.7			(0.7		)		(1.2		)		(1.1		)
Total loss and loss expense ratio			14.7		%	24.2		%	34.1		%	35.2		%	33.7		%	61.3		%	19.5		%	47.8		%		43.7		%		41.4		%
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.



Quarterly Property Casualty Data - Personal Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15			6/30/16			6/30/15			9/30/16	9/30/15			12/31/16	12/31/15
Personal auto:
Written premiums			$	154		$	123		$	124		$	144		$	142		$	114		$	277		$	256			$	400			$	524
Earned premiums			135			131			130			128			125			123			266			248				376				506
Current accident year before catastrophe losses			79.5		%	79.1		%	76.6		%	74.5		%	79.7		%	81.6		%	79.3		%	80.8		%		78.6		%		78.1		%
Current accident year catastrophe losses			1.9			1.0			0.7			0.6			2.3			0.2			1.4			1.2				1.0				0.9
Prior accident years before catastrophe losses			10.6			(6.3		)	2.3			1.2			5.8			3.0			2.3			4.4				3.3				3.0
Prior accident years catastrophe losses			(0.1		)	(0.3		)	(0.1		)	(0.1		)	(0.1		)	(0.2		)	(0.2		)	(0.3		)		(0.2		)		(0.1		)
Total loss and loss expense ratio			91.9		%	73.5		%	79.5		%	76.2		%	87.7		%	84.6		%	82.8		%	86.1		%		82.7		%		81.9		%
Homeowner:
Written premiums			$	140		$	103		$	112		$	132		$	132		$	98		$	243		$	230			$	362			$	474
Earned premiums			121			119			118			117			114			114			240			228				345				463
Current accident year before catastrophe losses			49.1		%	51.5		%	50.2		%	52.8		%	52.9		%	55.5		%	50.3		%	54.1		%		53.7		%		52.8		%
Current accident year catastrophe losses			25.4			6.4			3.9			12.6			25.6			12.3			16.0			19.0				16.8				13.5
Prior accident years before catastrophe losses			(0.8		)	(5.2		)	—			(1.0		)	(2.4		)	(5.1		)	(3.0		)	(3.7		)		(2.8		)		(2.1		)
Prior accident years catastrophe losses			0.8			(1.6		)	(0.5		)	(0.1		)	(0.3		)	(1.2		)	(0.4		)	(0.7		)		(0.5		)		(0.5		)
Total loss and loss expense ratio			74.5		%	51.1		%	53.6		%	64.3		%	75.8		%	61.5		%	62.9		%	68.7		%		67.2		%		63.7		%
Other personal:
Written premiums			$	36		$	30		$	30		$	36		$	35		$	29		$	66		$	64			$	100			$	130
Earned premiums			32			33			32			32			33			31			65			64				96				128
Current accident year before catastrophe losses			42.0		%	44.2		%	49.9		%	70.1		%	58.2		%	49.6		%	43.1		%	53.9		%		59.4		%		57.0		%
Current accident year catastrophe losses			4.7			5.8			0.3			1.2			8.4			2.8			5.2			5.6				4.1				3.2
Prior accident years before catastrophe losses			(13.5		)	(4.6		)	4.1			7.6			(4.9		)	1.1			(9.0		)	(1.9		)		1.3				2.0
Prior accident years catastrophe losses			0.0			0.3			(0.1		)	(0.1		)	—			(0.8		)	0.1			(0.4		)		(0.3		)		(0.3		)
Total loss and loss expense ratio			33.2		%	45.7		%	54.2		%	78.8		%	61.7		%	52.7		%	39.4		%	57.2		%		64.5		%		61.9		%

Quarterly Property Casualty Data - Excess & Surplus Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15			6/30/16			6/30/15			9/30/16	9/30/15			12/31/16	12/31/15
Excess & Surplus:
Written premiums			$	51		$	45		$	44		$	43		$	46		$	42		$	96		$	88			$	131			$	175
Earned premiums			45			43			44			42			42			40			88			82				124				168
Current accident year before catastrophe losses			56.7		%	63.1		%	51.3		%	56.9		%	69.3		%	72.1		%	59.8		%	70.7		%		65.9		%		62.1		%
Current accident year catastrophe losses			3.2			0.3			0.2			0.3			0.6			1.2			1.9			0.9				0.7				0.5
Prior accident years before catastrophe losses			(1.9		)	(31.5		)	(32.5		)	(15.4		)	(20.2		)	(13.6		)	(16.4		)	(17.0		)		(16.4		)		(20.6		)
Prior accident years catastrophe losses			—			(0.2		)	(0.1		)	0.1			(0.1		)	(0.3		)	(0.1		)	(0.2		)		(0.1		)		(0.1		)
Total loss and loss expense ratio			58.0		%	31.7		%	18.9		%	41.9		%	49.6		%	59.4		%	45.2		%	54.4		%		50.1		%		41.9		%
*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.



Consolidated Cincinnati Insurance Companies
Loss and Loss Expense Analysis

(Dollars in millions)							Change in			Change in			Change in			Total									Loss
	Paid		Paid loss		Total		case			IBNR			loss expense			change in			Case			IBNR			expense			Total
	losses		expense		paid		reserves			reserves			reserves			reserves			incurred			incurred			incurred			incurred
Gross loss and loss expense incurred for the six months ended June 30, 2016
Commercial casualty	$	137	$	79	$	216	$	37		$	38		$	(2	)	$	73		$	174		$	38		$	77		$	289
Commercial property	228		18		246		97			(8		)	11			100			325			(8		)	29			346
Commercial auto	164		31		195		16			32			7			55			180			32			38			250
Workers' compensation	86		18		104		(11		)	9			—			(2		)	75			9			18			102
Other commercial	35		9		44		(17		)	—			(11		)	(28		)	18			—			(2		)	16
Total commercial lines	650		155		805		122			71			5			198			772			71			160			1,003

Personal auto	171		32		203		(1		)	28			(8		)	19			170			28			24			222
Homeowners	119		13		132		4			13			2			19			123			13			15			151
Other personal	30		2		32		(5		)	(3		)	—			(8		)	25			(3		)	2			24
Total personal lines	320		47		367		(2		)	38			(6		)	30			318			38			41			397

Excess & surplus lines	19		10		29		2			6			5			13			21			6			15			42
Cincinnati Re	1		—		1		3			15			—			18			4			15			—			19
Total property casualty	$	990	$	212	$	1,202	$	125		$	130		$	4		$	259		$	1,115		$	130		$	216		$	1,461

Ceded loss and loss expense incurred for the six months ended June 30, 2016
Commercial casualty	$	—	$	—	$	—	$	4		$	(3	)	$	2		$	3		$	4		$	(3	)	$	2		$	3
Commercial property	—		—		—		28			—			—			28			28			—			—			28
Commercial auto	—		—		—		—			—			—			—			—			—			—			—
Workers' compensation	8		—		8		4			(3		)	—			1			12			(3		)	—			9
Other commercial	1		—		1		(7		)	—			—			(7		)	(6		)	—			—			(6		)
Total commercial lines	9		—		9		29			(6		)	2			25			38			(6		)	2			34

Personal auto	1		—		1		(1		)	1			—			—			—			1			—			1
Homeowners	—		—		—		—			—			—			—			—			—			—			—
Other personal	—		—		—		—			(1		)	—			(1		)	—			(1		)	—			(1		)
Total personal lines	1		—		1		(1		)	—			—			(1		)	—			—			—			—

Excess & surplus lines	1		—		1		—			1			—			1			1			1			—			2
Cincinnati Re	—		—		—		1			4			—			5			1			4			—			5
Total property casualty	$	11	$	—	$	11	$	29		$	(1	)	$	2		$	30		$	40		$	(1	)	$	2		$	41

Net loss and loss expense incurred for the six months ended June 30, 2016
Commercial casualty	$	137	$	79	$	216	$	33		$	41		$	(4	)	$	70		$	170		$	41		$	75		$	286
Commercial property	228		18		246		69			(8		)	11			72			297			(8		)	29			318
Commercial auto	164		31		195		16			32			7			55			180			32			38			250
Workers' compensation	78		18		96		(15		)	12			—			(3		)	63			12			18			93
Other commercial	34		9		43		(10		)	—			(11		)	(21		)	24			—			(2		)	22
Total commercial lines	641		155		796		93			77			3			173			734			77			158			969

Personal auto	170		32		202		—			27			(8		)	19			170			27			24			221
Homeowners	119		13		132		4			13			2			19			123			13			15			151
Other personal	30		2		32		(5		)	(2		)	—			(7		)	25			(2		)	2			25
Total personal lines	319		47		366		(1		)	38			(6		)	31			318			38			41			397

Excess & surplus lines	18		10		28		2			5			5			12			20			5			15			40
Cincinnati Re	1		—		1		2			11			—			13			3			11			—			14
Total property casualty	$	979	$	212	$	1,191	$	96		$	131		$	2		$	229		$	1,075		$	131		$	214		$	1,420



Consolidated Cincinnati Insurance Companies
Loss and Loss Expense Analysis

(Dollars in millions)								Change in			Change in			Change in			Total									Loss
	Paid		Paid loss			Total		case			IBNR			loss expense			change in			Case			IBNR			expense			Total
	losses		expense			paid		reserves			reserves			reserves			reserves			incurred			incurred			incurred			incurred
Gross loss and loss expense incurred for the three months ended June 30, 2016
Commercial casualty	$	77	$	40		$	117	$	18		$	6		$	(2	)	$	22		$	95		$	6		$	38		$	139
Commercial property	130		9			139		103			(27		)	1			77			233			(27		)	10			216
Commercial auto	81		16			97		9			20			3			32			90			20			19			129
Workers' compensation	42		9			51		(1		)	1			(2		)	(2		)	41			1			7			49
Other commercial	16		4			20		(4		)	—			(9		)	(13		)	12			—			(5		)	7
Total commercial lines	346		78			424		125			—			(9		)	116			471			—			69			540

Personal auto	84		16			100		2			20			2			24			86			20			18			124
Homeowners	68		6			74		4			10			2			16			72			10			8			90
Other personal	16		1			17		(4		)	(4		)	1			(7		)	12			(4		)	2			10
Total personal lines	168		23			191		2			26			5			33			170			26			28			224

Excess & surplus lines	13		5			18		(1		)	8			3			10			12			8			8			28
Cincinnati Re	1		—			1		2			8			—			10			3			8			—			11
Total property casualty	$	528	$	106		$	634	$	128		$	42		$	(1	)	$	169		$	656		$	42		$	105		$	803

Ceded loss and loss expense incurred for the three months ended June 30, 2016
Commercial casualty	$	—	$	—		$	—	$	4		$	—		$	1		$	5		$	4		$	—		$	1		$	5
Commercial property	—		—			—		28			—			—			28			28			—			—			28
Commercial auto	—		—			—		—			—			—			—			—			—			—			—
Workers' compensation	5		(1		)	4		5			(1		)	—			4			10			(1		)	(1		)	8
Other commercial	—		—			—		(1		)	—			—			(1		)	(1		)	—			—			(1		)
Total commercial lines	5		(1		)	4		36			(1		)	1			36			41			(1		)	—			40

Personal auto	—		—			—		(1		)	1			—			—			(1		)	1			—			—
Homeowners	—		—			—		—			—			—			—			—			—			—			—
Other personal	—		—			—		—			—			—			—			—			—			—			—
Total personal lines	—		—			—		(1		)	1			—			—			(1		)	1			—			—

Excess & surplus lines	1		—			1		—			—			—			—			1			—			—			1
Cincinnati Re	—		—			—		1			2			—			3			1			2			—			3
Total property casualty	$	6	$	(1	)	$	5	$	36		$	2		$	1		$	39		$	42		$	2		$	—		$	44

Net loss and loss expense incurred for the three months ended June 30, 2016
Commercial casualty	$	77	$	40		$	117	$	14		$	6		$	(3	)	$	17		$	91		$	6		$	37		$	134
Commercial property	130		9			139		75			(27		)	1			49			205			(27		)	10			188
Commercial auto	81		16			97		9			20			3			32			90			20			19			129
Workers' compensation	37		10			47		(6		)	2			(2		)	(6		)	31			2			8			41
Other commercial	16		4			20		(3		)	—			(9		)	(12		)	13			—			(5		)	8
Total commercial lines	341		79			420		89			1			(10		)	80			430			1			69			500

Personal auto	84		16			100		3			19			2			24			87			19			18			124
Homeowners	68		6			74		4			10			2			16			72			10			8			90
Other personal	16		1			17		(4		)	(4		)	1			(7		)	12			(4		)	2			10
Total personal lines	168		23			191		3			25			5			33			171			25			28			224

Excess & surplus lines	12		5			17		(1		)	8			3			10			11			8			8			27
Cincinnati Re	1		—			1		1			6			—			7			2			6			—			8
Total property casualty	$	522	$	107		$	629	$	92		$	40		$	(2	)	$	130		$	614		$	40		$	105		$	759



Consolidated Cincinnati Insurance Companies
Quarterly Property Casualty Data

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15			6/30/16			6/30/15			9/30/16	9/30/15			12/31/16	12/31/15
Premiums
Agency renewal written premiums			$	1,057		$	1,028		$	925		$	999		$	1,018		$	983		$	2,085		$	2,001			$	3,000			$	3,925
Agency new business written premiums			143			125			140			138			138			116			268			254				392				532
Cincinnati Re net written premiums			16			19			33			—			—			—			35			—				—				33
Other written premiums			(22		)	(25		)	(43		)	(39		)	(14		)	(33		)	(47		)	(47		)		(86		)		(129		)
Net written premiums – statutory*			$	1,194		$	1,147		$	1,055		$	1,098		$	1,142		$	1,066		$	2,341		$	2,208			$	3,306			$	4,361
Unearned premium change			(80		)	(51		)	40			(22		)	(83		)	(25		)	(131		)	(108		)		(130		)		(90		)
Earned premiums			$	1,114		$	1,096		$	1,095		$	1,076		$	1,059		$	1,041		$	2,210		$	2,100			$	3,176			$	4,271
Year over year change %
Agency renewal written premiums			4		%	5		%	2		%	4		%	5		%	3		%	4		%	4		%		4		%		3		%
Agency new business written premiums			4			8			15			10			4			(6		)	6			(1		)		3				6
Cincinnati Re net written premiums			nm			—			—			—			—			—			nm			—				—				—
Other written premiums			(57		)	24			(5		)	15			44			21			—			30				24				16
Net written premiums – statutory*			5			8			7			6			6			3			6			4				5				5
Paid losses and loss expenses
Losses paid			$	522		$	457		$	498		$	511		$	501		$	448		$	979		$	949			$	1,460			$	1,958
Loss expenses paid			107			105			103			93			97			98			212			195				288				391
Loss and loss expenses paid			$	629		$	562		$	601		$	604		$	598		$	546		$	1,191		$	1,144			$	1,748			$	2,349
Incurred losses and loss expenses
Loss and loss expense incurred			$	759		$	661		$	616		$	613		$	654		$	689		$	1,420		$	1,343			$	1,956			$	2,572
Loss and loss expenses paid as a % of incurred			82.9		%	85.0		%	97.6		%	98.5		%	91.4		%	79.2		%	83.9		%	85.2		%		89.4		%		91.3		%
Statutory combined ratio
Loss ratio			58.8		%	50.2		%	45.3		%	46.8		%	52.7		%	54.4		%	54.5		%	53.6		%		51.3		%		49.8		%
Loss adjustment expense ratio			9.4			10.1			11.0			10.1			9.1			11.7			9.7			10.3				10.2				10.4
Net underwriting expense ratio			29.7			29.9			32.3			30.6			28.9			30.0			29.9			29.4				29.8				30.4
Statutory combined ratio			97.9		%	90.2		%	88.6		%	87.5		%	90.7		%	96.1		%	94.1		%	93.3		%		91.3		%		90.6		%
Contribution from catastrophe losses			14.8			3.1			1.2			2.5			7.5			4.1			9.0			5.8				4.7				3.7
Statutory combined ratio excl. catastrophe losses			83.1		%	87.1		%	87.4		%	85.0		%	83.2		%	92.0		%	85.1		%	87.5		%		86.6		%		86.9		%
GAAP combined ratio
GAAP combined ratio			99.3		%	91.4		%	87.0		%	87.8		%	92.4		%	97.5		%	95.4		%	94.9		%		92.5		%		91.1		%
Contribution from catastrophe losses			14.8			3.1			1.2			2.5			7.5			4.1			9.0			5.8				4.7				3.7
GAAP combined ratio excl. catastrophe losses			84.5		%	88.3		%	85.8		%	85.3		%	84.9		%	93.4		%	86.4		%	89.1		%		87.8		%		87.4		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.



Cincinnati Insurance Companies
Quarterly Property Casualty Data - Commercial Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15			6/30/16			6/30/15			9/30/16	9/30/15			12/31/16	12/31/15
Premiums
Agency renewal written premiums			$	718		$	758		$	649		$	678		$	699		$	730		$	1,476		$	1,429			$	2,107			$	2,756
Agency new business written premiums			93			87			97			96			93			79			180			172				268				365
Other written premiums			(14		)	(18		)	(34		)	(31		)	(5		)	(26		)	(32		)	(31		)		(62		)		(96		)
Net written premiums – statutory*			$	797		$	827		$	712		$	743		$	787		$	783		$	1,624		$	1,570			$	2,313			$	3,025
Unearned premium change			(26		)	(67		)	49			14			(42		)	(50		)	(93		)	(92		)		(78		)		(29		)
Earned premiums			$	771		$	760		$	761		$	757		$	745		$	733		$	1,531		$	1,478			$	2,235			$	2,996
Year over year change %
Agency renewal written premiums			3		%	4		%	1		%	4		%	4		%	2		%	3		%	3		%		4		%		3		%
Agency new business written premiums			—			10			13			8			(2		)	(12		)	5			(7		)		(2		)		1
Other written premiums			(180		)	31			(6		)	14			69			19			(3		)	35				26				17
Net written premiums – statutory*			1			6			2			6			5			2			3			3				4				4
Paid losses and loss expenses
Losses paid			$	342		$	300		$	331		$	324		$	329		$	303		$	642		$	632			$	956			$	1,287
Loss expenses paid			78			76			76			68			71			73			154			144				212				288
Loss and loss expenses paid			$	420		$	376		$	407		$	392		$	400		$	376		$	796		$	776			$	1,168			$	1,575
Incurred losses and loss expenses
Loss and loss expense incurred			$	500		$	469		$	419		$	398		$	417		$	474		$	969		$	891			$	1,289			$	1,708
Loss and loss expenses paid as a % of incurred			84.0		%	80.2		%	97.1		%	98.5		%	95.9		%	79.3		%	82.1		%	87.1		%		90.6		%		92.2		%
Statutory combined ratio
Loss ratio			56.0		%	49.9		%	43.3		%	42.2		%	46.9		%	52.2		%	53.0		%	49.6		%		47.1		%		46.1		%
Loss adjustment expense ratio			8.9			11.8			11.8			10.2			9.1			12.5			10.3			10.7				10.5				10.9
Net underwriting expense ratio			30.9			29.7			33.5			32.2			29.9			29.9			30.3			29.9				30.6				31.3
Statutory combined ratio			95.8		%	91.4		%	88.6		%	84.6		%	85.9		%	94.6		%	93.6		%	90.2		%		88.2		%		88.3		%
Contribution from catastrophe losses			16.6			3.4			1.0			1.4			5.9			4.0			10.0			5.0				3.8				3.1
Statutory combined ratio excl. catastrophe losses			79.2		%	88.0		%	87.6		%	83.2		%	80.0		%	90.6		%	83.6		%	85.2		%		84.4		%		85.2		%
GAAP combined ratio
GAAP combined ratio			96.8		%	93.6		%	86.8		%	84.0		%	87.2		%	96.6		%	95.2		%	91.9		%		89.2		%		88.6		%
Contribution from catastrophe losses			16.6			3.4			1.0			1.4			5.9			4.0			10.0			5.0				3.8				3.1
GAAP combined ratio excl. catastrophe losses			80.2		%	90.2		%	85.8		%	82.6		%	81.3		%	92.6		%	85.2		%	86.9		%		85.4		%		85.5		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.



Cincinnati Insurance Companies
Quarterly Property Casualty Data - Personal Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15			6/30/16			6/30/15			9/30/16	9/30/15			12/31/16	12/31/15
Premiums
Agency renewal written premiums			$	302		$	236		$	245		$	288		$	285		$	223		$	538		$	508			$	796			$	1,041
Agency new business written premiums			34			25			27			30			30			24			59			54				84				111
Other written premiums			(6		)	(5		)	(6		)	(6		)	(6		)	(6		)	(11		)	(12		)		(18		)		(24		)
Net written premiums – statutory*			$	330		$	256		$	266		$	312		$	309		$	241		$	586		$	550			$	862			$	1,128
Unearned premium change			(42		)	27			14			(35		)	(37		)	27			(15		)	(10		)		(45		)		(31		)
Earned premiums			$	288		$	283		$	280		$	277		$	272		$	268		$	571		$	540			$	817			$	1,097
Year over year change %
Agency renewal written premiums			6		%	6		%	5		%	4		%	3		%	2		%	6		%	3		%		3		%		4		%
Agency new business written premiums			13			4			13			30			25			14			9			20				24				21
Other written premiums			—			17			25			14			—			25			8			14				14				17
Net written premiums – statutory*			7			6			7			6			5			4			7			5				5				6
Paid losses and loss expenses
Losses paid			$	168		$	151		$	160		$	180		$	165		$	139		$	319		$	304			$	484			$	644
Loss expenses paid			23			24			23			20			22			22			47			44				64				87
Loss and loss expenses paid			$	191		$	175		$	183		$	200		$	187		$	161		$	366		$	348			$	548			$	731
Incurred losses and loss expenses
Loss and loss expense incurred			$	224		$	173		$	184		$	198		$	216		$	191		$	397		$	407			$	605			$	789
Loss and loss expenses paid as a % of incurred			85.3		%	101.2		%	99.5		%	101.0		%	86.6		%	84.3		%	92.2		%	85.5		%		90.6		%		92.6		%
Statutory combined ratio
Loss ratio			68.5		%	56.2		%	57.7		%	62.5		%	71.1		%	61.9		%	62.4		%	66.6		%		65.2		%		63.3		%
Loss adjustment expense ratio			9.5			4.7			8.0			9.0			8.5			9.1			7.1			8.8				8.8				8.6
Net underwriting expense ratio			27.2			31.1			29.4			27.0			26.2			30.4			28.9			28.0				27.7				28.1
Statutory combined ratio			105.2		%	92.0		%	95.1		%	98.5		%	105.8		%	101.4		%	98.4		%	103.4		%		101.7		%		100.0		%
Contribution from catastrophe losses			12.4			3.0			1.8			5.6			12.6			4.9			7.7			8.8				7.7				6.2
Statutory combined ratio excl. catastrophe losses			92.8		%	89.0		%	93.3		%	92.9		%	93.2		%	96.5		%	90.7		%	94.6		%		94.0		%		93.8		%
GAAP combined ratio
GAAP combined ratio			107.5		%	90.1		%	94.0		%	100.9		%	109.2		%	101.4		%	98.9		%	105.3		%		103.8		%		101.3		%
Contribution from catastrophe losses			12.4			3.0			1.8			5.6			12.6			4.9			7.7			8.8				7.7				6.2
GAAP combined ratio excl. catastrophe losses			95.1		%	87.1		%	92.2		%	95.3		%	96.6		%	96.5		%	91.2		%	96.5		%		96.1		%		95.1		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.



Cincinnati Insurance Companies
Quarterly Property Casualty Data - Excess & Surplus Lines

(Dollars in millions)	Three months ended																				Six months ended						Nine months ended				Twelve months ended
	12/31/16	9/30/16	6/30/16			3/31/16			12/31/15			9/30/15			6/30/15			3/31/15			6/30/16			6/30/15			9/30/16	9/30/15			12/31/16	12/31/15
Premiums
Agency renewal written premiums			$	37		$	34		$	31		$	33		$	34		$	30		$	71		$	64			$	97			$	128
Agency new business written premiums			16			13			16			12			15			13			29			28				40				56
Other written premiums			(2		)	(2		)	(3		)	(2		)	(3		)	(1		)	(4		)	(4		)		(6		)		(9		)
Net written premiums – statutory*			$	51		$	45		$	44		$	43		$	46		$	42		$	96		$	88			$	131			$	175
Unearned premium change			(6		)	(2		)	—			(1		)	(4		)	(2		)	(8		)	(6		)		(7		)		(7		)
Earned premiums			$	45		$	43		$	44		$	42		$	42		$	40		$	88		$	82			$	124			$	168
Year over year change %
Agency renewal written premiums			9		%	13		%	11		%	14		%	17		%	20		%	11		%	19		%		17		%		15		%
Agency new business written premiums			7			—			33			(8		)	7			8			4			8				3				10
Other written premiums			33			(100		)	(200		)	33			—			50			0			20				25				—
Net written premiums – statutory*			11			7			13			10			15			20			9			17				15				14
Paid losses and loss expenses
Losses paid			$	12		$	6		$	6		$	8		$	8		$	5		$	18		$	13			$	21			$	27
Loss expenses paid			5			5			5			4			3			4			10			7				11				16
Loss and loss expenses paid			$	17		$	11		$	11		$	12		$	11		$	9		$	28		$	20			$	32			$	43
Incurred losses and loss expenses
Loss and loss expense incurred			$	27		$	13		$	8		$	17		$	21		$	24		$	40		$	45			$	62			$	70
Loss and loss expenses paid as a % of incurred			63.0		%	84.6		%	137.5		%	70.6		%	52.4		%	37.5		%	70.0		%	44.4		%		51.6		%		61.4		%
Statutory combined ratio
Loss ratio			40.0		%	15.1		%	1.1		%	26.9		%	36.1		%	44.9		%	27.9		%	40.4		%		35.8		%		26.7		%
Loss adjustment expense ratio			18.0			16.6			17.8			15.0			13.5			14.5			17.3			14.0				14.3				15.2
Net underwriting expense ratio			29.9			30.3			31.8			29.4			29.1			29.9			30.1			29.5				29.5				30.0
Statutory combined ratio			87.9		%	62.0		%	50.7		%	71.3		%	78.7		%	89.3		%	75.3		%	83.9		%		79.6		%		71.9		%
Contribution from catastrophe losses			3.2			0.2			0.1			0.4			0.5			0.9			1.8			0.7				0.6				0.4
Statutory combined ratio excl. catastrophe losses			84.7		%	61.8		%	50.6		%	70.9		%	78.2		%	88.4		%	73.5		%	83.2		%		79.0		%		71.5		%
GAAP combined ratio
GAAP combined ratio			87.4		%	61.1		%	48.1		%	69.9		%	76.0		%	88.3		%	74.6		%	82.1		%		77.9		%		70.0		%
Contribution from catastrophe losses			3.2			0.2			0.1			0.4			0.5			0.9			1.8			0.7				0.6				0.4
GAAP combined ratio excl. catastrophe losses			84.2		%	60.9		%	48.0		%	69.5		%	75.5		%	87.4		%	72.8		%	81.4		%		77.3		%		69.6		%
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.



The Cincinnati Life Insurance Company
Statutory Statements of Income

	For the Three Months Ended June 30,											For the Six Months Ended June 30,
(Dollars in millions)	2016			2015			Change			% Change		2016			2015			Change			% Change
Net premiums written	$	71		$	64		$	7		11		$	140		$	125		$	15		12
Net investment income	39			38			1			3		79			76			3			4
Amortization of interest maintenance reserve	1			1			—			—		2			2			—			—
Commissions and expense allowances on reinsurance ceded	2			2			—			—		3			3			—			—
Income from fees associated with separate accounts	2			1			1			100		3			2			1			50
Total revenues	$	115		$	106		$	9		8		$	227		$	208		$	19		9

Death benefits and matured endowments	$	24		$	21		$	3		14		$	53		$	46		$	7		15
Annuity benefits	16			15			1			7		34			30			4			13
Disability benefits and benefits under accident and health contracts	1			1			—			—		1			1			—			—
Surrender benefits and group conversions	4			4			—			0		9			8			1			13
Interest and adjustments on deposit-type contract funds	1			3			(2		)	(67	)	4			5			(1		)	(20	)
Increase in aggregate reserves for life and accident and health contracts	52			44			8			18		93			85			8			9
Total benefit expenses	$	98		$	88		$	10		11		$	194		$	175		$	19		11

Commissions	$	11		$	10		$	1		10		$	20		$	18		$	2		11
General insurance expenses and taxes	11			11			—			—		22			21			1			5
Increase in loading on deferred and uncollected premiums	(3		)	(2		)	(1		)	(50	)	(3		)	—			(3		)	nm
Net transfers from separate accounts	(2		)	—			(2		)	nm		(4		)	—			(4		)	nm
Total underwriting expenses	$	17		$	19		$	(2	)	(11	)	$	35		$	39		$	(4	)	(10	)

Federal and foreign income tax benefit	—			(1		)	1			100		(2		)	(3		)	1			33

Net loss from operations before realized capital gains	$	—		$	—		$	—		nm		$	—		$	(3	)	$	3		100

Realized gains and losses net of capital gains tax, net	—			(1		)	1			100		2			(1		)	3			nm

Net income (loss) (statutory)	$	—		$	(1	)	$	1		100		$	2		$	(4	)	$	6		nm
Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. nm - Not meaningful *Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.



Investor Contact:	Media Contact:	Shareholder Contact:
Dennis E. McDaniel	Betsy E. Ertel	Brandon McIntosh
513-870-2768	513-603-5323	513-870-2696



	A.M. Best	Fitch	Moody's	S&P
Cincinnati Financial Corporation
Corporate Debt	a-	A-	A3	BBB+

The Cincinnati Insurance Companies
Insurer Financial Strength

Property Casualty Group
Standard Market Subsidiaries:	A+	—	A1	A+
The Cincinnati Insurance Company	A+	A+	A1	A+
The Cincinnati Indemnity Company	A+	A+	A1	A+
The Cincinnati Casualty Company	A+	A+	A1	A+
Surplus Lines Subsidiary:
The Cincinnati Specialty Underwriters Insurance Company	A+	—	—	—

The Cincinnati Life Insurance Company	A	A+	—	A+