Exhibit



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

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

Consolidated
	Quick Reference	4
	CFC and Subsidiaries Consolidation – Nine Months Ended September 30, 2016	5
	CFC and Subsidiaries Consolidation – Three Months Ended September 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 – Nine Months Ended September 30, 2016	15
	Loss and Loss Expense Analysis – Three Months Ended September 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						—	Third Quarter 2016
(all data shown is for the three months ended or as of September 30, 2016)

(Dollars in millions except per share data)	9/30/2016			Year over year change %				9/30/2016			Year over year change %
Revenues:							Benefits and expenses:

Commercial lines net written premiums	$	777		5			Commercial lines loss and loss expenses	$	456		15
Personal lines net written premiums	329			5			Personal lines loss and loss expenses	217			10
Excess & surplus lines net written premiums	48			12			Excess & surplus lines loss and loss expenses	15			(12	)
Cincinnati Re net written premiums	21			nm			Cincinnati Re loss and loss expenses	2			nm
Property casualty net written premiums	$	1,175		7			Life and health contract holders' benefits incurred	63			11
Life and accident and health net written premiums	$	57		6			Underwriting, acquisition and insurance expenses	380			9
Annuity net written premiums	10			19			Interest expenses	13			(7	)
Life, annuity and accident and health net written premiums	$	67		8			Other operating expenses	3			0
Commercial lines net earned premiums	$	779		3			Total benefits & expenses	$	1,149		11
Personal lines net earned premiums	293			6			Income before income taxes	253			4
Excess & surplus lines net earned premiums	48			14			Total income tax	73			6
Cincinnati Re net earned premiums	13			nm
Property casualty net earned premiums	$	1,133		5			Balance Sheet:
Life and accident and health net earned premiums	58			14
Investment income	148			3			Fixed maturity investments	$	10,257
Realized investment gains and losses, net	56			nm			Equity securities	5,304
Fee revenue	5			25			Other investments	81
Other revenue	2			100			Total invested assets	$	15,642
Total revenues	1,402			10
							Loss and loss expense reserves	$	4,991
							Life policy and investment contract reserves	2,641
							Long-term debt and capital lease obligations	827
Income:							Shareholders' equity	7,121
Net income	$	180		3
Realized investment gains, net	56			nm			Key ratios:
Income tax on unrealized investment gains	(19		)	nm
Realized investment gains, after tax	37			nm			Commercial lines GAAP combined ratio	90.8		%
Operating income	143			(17	)		Personal lines GAAP combined ratio	103.4
							Excess & surplus lines GAAP combined ratio	61.3
							Cincinnati Re GAAP combined ratio	53.3
Per share (diluted):							Property casualty GAAP combined ratio	92.4

Net income	$	1.08		3			Commercial lines STAT combined ratio	91.1		%
Realized investment gains, net	0.34			nm			Personal lines STAT combined ratio	101.3
Income tax on unrealized investment gains	(0.12		)	nm			Excess & surplus lines STAT combined ratio	62.7
Realized investment gains, after tax	0.22			nm			Cincinnati Re STAT combined ratio	49.4
Operating income	0.86			(17	)		Property casualty STAT combined ratio	91.9
Book value	43.24			12
Weighted average shares outstanding	166.8			1			Value creation ratio	3.2		%



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

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		ELIM			Total
Revenues
Premiums earned:
Property casualty	$	—		$	3,462		$	—		$	—	$	—		$	3,462
Life	—			—			220			—		—			220
Premiums ceded	—			(119		)	(45		)	—		—			(164		)
Total earned premium	—			3,343			175			—		—			3,518
Investment income, net of expenses	38			287			117			—		—			442
Realized investment gains, net	42			115			4			—		—			161
Fee revenues	—			7			4			—		—			11
Other revenues	11			1			—			4		(11		)	5
Total revenues	$	91		$	3,753		$	300		$	4	$	(11	)	$	4,137

Benefits & expenses
Losses & contract holders' benefits	$	—		$	2,161		$	228		$	—	$	(1	)	$	2,388
Reinsurance recoveries	—			(51		)	(40		)	—		1			(90		)
Underwriting, acquisition and insurance expenses	—			1,044			62			—		—			1,106
Interest expense	39			—			—			—		—			39
Other operating expenses	21			—			—			1		(12		)	10
Total expenses	$	60		$	3,154		$	250		$	1	$	(12	)	$	3,453

Income before income taxes	$	31		$	599		$	50		$	3	$	1		$	684

Provision (benefit) for income taxes
Current operating income	$	(18	)	$	139		$	(5	)	$	1	$	—		$	117
Capital gains/losses	14			41			1			—		—			56
Deferred	6			(8		)	22			—		—			20
Total provision for income taxes	$	2		$	172		$	18		$	1	$	—		$	193

Net income - current year	$	29		$	427		$	32		$	2	$	1		$	491

Net income - prior year	$	7		$	435		$	31		$	1	$	4		$	478
*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 September 30, 2016

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		ELIM			Total
Revenues
Premiums earned:
Property casualty	$	—		$	1,175		$	—		$	—	$	—		$	1,175
Life	—			—			74			—		—			74
Premiums ceded	—			(42		)	(16		)	—		—			(58		)
Total earned premium	—			1,133			58			—		—			1,191
Investment income, net of expenses	12			96			40			—		—			148
Realized investment gains, net	23			30			3			—		—			56
Fee revenues	—			3			2			—		—			5
Other revenues	3			—			—			2		(3		)	2
Total revenues	$	38		$	1,262		$	103		$	2	$	(3	)	$	1,402

Benefits & expenses
Losses & contract holders' benefits	$	—		$	700		$	72		$	—	$	(1	)	$	771
Reinsurance recoveries	—			(10		)	(9		)	—		1			(18		)
Underwriting, acquisition and insurance expenses	—			356			24			—		—			380
Interest expense	13			—			—			—		—			13
Other operating expenses	7			—			—			—		(4		)	3
Total expenses	$	20		$	1,046		$	87		$	—	$	(4	)	$	1,149

Income before income taxes	$	18		$	216		$	16		$	2	$	1		$	253

Provision (benefit) for income taxes
Current operating income	$	(11	)	$	52		$	(1	)	$	1	$	—		$	41
Capital gains/losses	7			11			1			—		—			19
Deferred	7			—			6			—		—			13
Total provision for income taxes	$	3		$	63		$	6		$	1	$	—		$	73

Net income - current year	$	15		$	153		$	10		$	1	$	1		$	180

Net income - prior year	$	1		$	161		$	11		$	—	$	1		$	174
*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)		$	6,843	$	6,758	$	6,607	$	6,435	$	6,472	$	6,435	$	6,325
Equities (fair value)		3,474		3,443		3,222		3,101		2,961		3,108		3,108
Fixed maturities - pretax net unrealized gain		384		414		301		234		283		280		387
Equities - pretax net unrealized gain		1,438		1,395		1,302		1,203		1,063		1,297		1,397
Loss and loss expense reserves - STAT		4,639		4,611		4,480		4,382		4,366		4,357		4,302
Equity - GAAP		5,926		5,848		5,655		5,444		5,397		5,485		5,593
Surplus - STAT		4,679		4,600		4,534		4,413		4,324		4,419		4,436

The Cincinnati Life Insurance Company
Fixed maturities (fair value)		$	3,354	$	3,320	$	3,215	$	3,154	$	3,221	$	3,176	$	3,199
Equities (fair value)		9		9		9		9		9		8		9
Fixed maturities - pretax net unrealized gain		196		186		124		76		133		151		220
Equities - pretax net unrealized gain		4		4		4		4		4		3		4
Equity - GAAP		979		962		911		872		897		896		927
Surplus - STAT		202		205		207		208		215		217		219



Consolidated Cincinnati Insurance Companies
Statutory Statements of Income

	For the Three Months Ended September 30,									For the Nine Months Ended September 30,
(Dollars in millions)	2016		2015		Change			% Change		2016		2015		Change			% Change
Underwriting income
Net premiums written	$	1,175	$	1,098	$	77		7		$	3,516	$	3,306	$	210		6
Unearned premiums increase	42		22		20			91		173		130		43			33
Earned premiums	$	1,133	$	1,076	$	57		5		$	3,343	$	3,176	$	167		5

Losses incurred	$	571	$	504	$	67		13		$	1,777	$	1,629	$	148		9
Defense and cost containment expenses incurred	54		53		1			2		138		152		(14		)	(9	)
Adjusting and other expenses incurred	65		56		9			16		195		175		20			11
Other underwriting expenses incurred	359		332		27			8		1,051		975		76			8
Workers compensation dividend incurred	5		4		1			25		12		11		1			9

Total underwriting deductions	$	1,054	$	949	$	105		11		$	3,173	$	2,942	$	231		8
Net underwriting profit	$	79	$	127	$	(48	)	(38	)	$	170	$	234	$	(64	)	(27	)

Investment income
Gross investment income earned	$	98	$	95	$	3		3		$	292	$	282	$	10		4
Net investment income earned	96		93		3			3		287		277		10			4
Net realized capital gains	22		3		19			633		81		63		18			29
Net investment gains (net of tax)	$	118	$	96	$	22		23		$	368	$	340	$	28		8

Other income	$	2	$	2	$	—		—		$	5	$	5	$	—		—

Net income before federal income taxes	$	199	$	225	$	(26	)	(12	)	$	543	$	579	$	(36	)	(6	)
Federal and foreign income taxes incurred	$	52	$	67	$	(15	)	(22	)	$	140	$	151	$	(11	)	(7	)
Net income (statutory)	$	147	$	158	$	(11	)	(7	)	$	403	$	428	$	(25	)	(6	)
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		$	10		$	23		$	—		$	4		$	8		$	5		$	12	$	23		$	17	$	33		$	25		$	29
Current accident year losses $1,000,000-$5,000,000		46			34			42			57			43			24			37		76			61		122			104			161
Large loss prior accident year reserve development		1			3			—			(3		)	19			(4		)	15		3			11		4			30			27
Total large losses incurred		$	57		$	60		$	42		$	58		$	70		$	25		$	64	$	102		$	89	$	159		$	159		$	217
Losses incurred but not reported		(7		)	34			73			20			(31		)	38			43		107			81		100			50			70
Other losses excluding catastrophe losses		467			399			402			406			441			417			418		801			835		1,269			1,276			1,682
Catastrophe losses		53			163			33			12			24			78			42		196			120		249			144			156
Total losses incurred		$	570		$	656		$	550		$	496		$	504		$	558		$	567	$	1,206		$	1,125	$	1,777		$	1,629		$	2,125
Commercial Lines
Current accident year losses greater than $5,000,000		$	10		$	23		$	—		$	4		$	8		$	5		$	12	$	23		$	17	$	33		$	25		$	29
Current accident year losses $1,000,000-$5,000,000		34			33			36			48			26			14			24		69			38		103			64			112
Large loss prior accident year reserve development		5			4			(1		)	(3		)	17			(4		)	15		3			11		8			28			25
Total large losses incurred		$	49		$	60		$	35		$	49		$	51		$	15		$	51	$	95		$	66	$	144		$	117		$	166
Losses incurred but not reported		4			2			64			20			(17		)	17			31		66			48		70			31			51
Other losses excluding catastrophe losses		287			244			255			253			277			274			272		499			546		786			823			1,076
Catastrophe losses		28			126			25			7			9			43			29		151			72		179			81			88
Total losses incurred		$	368		$	432		$	379		$	329		$	320		$	349		$	383	$	811		$	732	$	1,179		$	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		10			—			6			8			15			10			12		6			22		16			37			45
Large loss prior accident year reserve development		(3		)	(2		)	1			—			—			—			—		(1		)	—		(4		)	—			—
Total large losses incurred		$	7		$	(2	)	$	7		$	8		$	15		$	10		$	12	$	5		$	22	$	12		$	37		$	45
Losses incurred but not reported		(9		)	23			11			9			(12		)	14			7		34			21		25			9			18
Other losses excluding catastrophe losses		168			141			133			141			155			136			134		274			270		442			425			566
Catastrophe losses		25			35			8			4			15			34			13		43			47		68			62			66
Total losses incurred		$	191		$	197		$	159		$	162		$	173		$	194		$	166	$	356		$	360	$	547		$	533		$	695
Excess & Surplus Lines
Current accident year losses greater than $5,000,000		$	—		$	—		$	—		$	—		$	—		$	—		$	—	$	—		$	—	$	—		$	—		$	—
Current accident year losses $1,000,000-$5,000,000		2			1			—			1			2			—			1		1			1		3			3			4
Large loss prior accident year reserve development		(1		)	1			—			1			2			—			—		1			—		—			2			3
Total large losses incurred		$	1		$	2		$	—		$	2		$	4		$	—		$	1	$	2		$	1	$	3		$	5		$	7
Losses incurred but not reported		(2		)	9			(2		)	(8		)	(2		)	7			5		7			12		5			10			2
Other losses excluding catastrophe losses		11			5			9			7			9			7			12		14			19		25			28			35
Catastrophe losses		—			2			—			—			—			1			—		2			1		2			1			1
Total losses incurred		$	10		$	18		$	7		$	1		$	11		$	15		$	18	$	25		$	33	$	35		$	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		0.9	%	2.0	%	—	%	0.5	%	0.7	%	0.5	%	1.0	%	1.0	%	0.8	%	1.0	%	0.8	%		0.7	%
Current accident year losses $1,000,000-$5,000,000		4.1		3.1		3.8		5.2		4.1		2.1		3.6		3.5		2.9		3.6		3.3			3.8
Large loss prior accident year reserve development		0.2		0.3		—		(0.2	)	1.7		(0.3	)	1.4		0.1		0.5		0.1		0.9			0.6
Total large loss ratio		5.2	%	5.4	%	3.8	%	5.5	%	6.5	%	2.3	%	6.0	%	4.6	%	4.2	%	4.7	%	5.0	%		5.1	%
Losses incurred but not reported		(0.7	)	3.1		6.6		1.9		(2.9	)	3.6		4.2		4.8		3.9		3.0		1.6			1.6
Other losses excluding catastrophe losses		41.3		35.7		36.8		36.9		40.9		39.6		40.1		36.2		39.8		38.1		40.2			39.5
Catastrophe losses		4.7		14.6		3.0		1.0		2.3		7.3		4.1		8.9		5.7		7.4		4.5			3.6
Total loss ratio		50.5	%	58.8	%	50.2	%	45.3	%	46.8	%	52.8	%	54.4	%	54.5	%	53.6	%	53.2	%	51.3	%		49.8	%
Commercial Lines
Current accident year losses greater than $5,000,000		1.3	%	2.9	%	—	%	0.7	%	1.0	%	0.7	%	1.6	%	1.5	%	1.2	%	1.4	%	1.1	%		1.0	%
Current accident year losses $1,000,000-$5,000,000		4.4		4.2		4.8		6.2		3.7		1.7		3.3		4.5		2.6		4.4		2.9			3.7
Large loss prior accident year reserve development		0.8		0.6		(0.2	)	(0.4	)	2.3		(0.5	)	2.0		0.2		0.7		0.4		1.3			0.8
Total large loss ratio		6.5	%	7.7	%	4.6	%	6.5	%	7.0	%	1.9	%	6.9	%	6.2	%	4.5	%	6.2	%	5.3	%		5.5	%
Losses incurred but not reported		0.4		0.3		8.4		2.8		(2.4	)	2.2		4.3		4.3		3.2		3.0		1.3			1.7
Other losses excluding catastrophe losses		36.7		31.6		33.6		33.1		36.3		37.0		37.1		32.6		37.0		34.1		36.8			35.9
Catastrophe losses		3.7		16.4		3.3		0.9		1.3		5.8		4.0		9.9		4.9		7.8		3.7			3.0
Total loss ratio		47.3	%	56.0	%	49.9	%	43.3	%	42.2	%	46.9	%	52.3	%	53.0	%	49.6	%	51.1	%	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		3.5		—		1.9		3.1		5.2		3.5		4.5		1.0		4.1		1.8		4.5			4.1
Large loss prior accident year reserve development		(1.1	)	(0.7	)	0.5		—		(0.2	)	0.1		—		(0.1	)	—		(0.4	)	—			—
Total large loss ratio		2.4	%	(0.7	)%	2.4	%	3.1	%	5.0	%	3.6	%	4.5	%	0.9	%	4.1	%	1.4	%	4.5	%		4.1	%
Losses incurred but not reported		(3.2	)	8.1		3.8		3.1		(4.2	)	5.1		2.7		6.0		3.9		2.9		1.1			1.6
Other losses excluding catastrophe losses		57.7		48.9		47.1		49.9		56.3		50.0		49.9		47.9		49.8		51.2		52.0			51.6
Catastrophe losses		8.2		12.2		2.9		1.6		5.4		12.5		4.9		7.6		8.7		7.8		7.6			6.0
Total loss ratio		65.1	%	68.5	%	56.2	%	57.7	%	62.5	%	71.2	%	62.0	%	62.4	%	66.5	%	63.3	%	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		4.4		2.2		—		2.3		4.8		—		2.5		1.1		1.2		2.3		2.5			2.4
Large loss prior accident year reserve development		(2.0	)	1.7		(0.4	)	1.5		5.0		—		—		0.7		—		(0.3	)	1.7			1.7
Total large loss ratio		2.4	%	3.9	%	(0.4	)%	3.8	%	9.8	%	—	%	2.5	%	1.8	%	1.2	%	2.0	%	4.2	%		4.1	%
Losses incurred but not reported		(2.9	)	20.3		(5.4	)	(19.5	)	(4.4	)	18.3		11.8		7.8		15.1		4.1		8.4			1.0
Other losses excluding catastrophe losses		21.8		12.7		20.8		16.8		21.2		17.5		29.9		16.6		23.5		18.4		22.7			21.2
Catastrophe losses		0.1		3.1		0.1		—		0.3		0.4		0.8		1.7		0.6		1.1		0.5			0.4
Total loss ratio		21.4	%	40.0	%	15.1	%	1.1	%	26.9	%	36.2	%	45.0	%	27.9	%	40.4	%	25.6	%	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		1	3	—	1	1	1	2	3	3	4	4		5
Current accident year reported losses $1,000,000 - $5,000,000		29	15	27	37	28	14	27	46	42	76	74		112
Prior accident year reported losses on large losses		2	17	10	8	6	9	15	27	27	26	35		46
Non-Catastrophe reported losses on large losses total		32	35	37	46	35	24	44	76	72	106	113		163
Commercial Lines
Current accident year reported losses greater than $5,000,000		1	3	—	1	1	1	2	3	3	4	4		5
Current accident year reported losses $1,000,000 - $5,000,000		21	14	23	29	17	9	18	41	26	62	46		77
Prior accident year reported losses on large losses		1	15	8	6	5	9	14	23	26	23	32		41
Non-Catastrophe reported losses on large losses total		23	32	31	36	23	19	34	67	55	89	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		6	—	4	7	9	5	8	4	15	11	25		31
Prior accident year reported losses on large losses		—	1	2	1	—	—	1	3	1	2	1		2
Non-Catastrophe reported losses on large losses total		6	1	6	8	9	5	9	7	16	13	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		2	1	—	1	2	—	1	1	1	3	3		4
Prior accident year reported losses on large losses		1	1	—	1	1	—	—	1	—	1	2		3
Non-Catastrophe reported losses on large losses total		3	2	—	2	3	—	1	2	1	4	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 Nine Months Ended September 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	$	121.3	$	107.6	$	64.5	$	—	$	27.9	$	102.1	$	84.5	$	26.7	$	11.5	$	546.1	$	526.8	6.4		(0.4	)	7.8		3.7
IL	50.6		43.9		23.9		40.2		10.2		23.6		23.6		6.2		9.8		232.0		230.2		2.1		(3.6	)	3.5		0.8
IN	43.5		41.8		25.2		24.6		9.5		26.2		27.9		6.1		8.1		212.9		212.0		1.9		(2.2	)	(5.0	)	0.4
GA	32.6		32.6		23.5		11.3		9.7		36.0		34.5		8.6		9.6		198.4		182.4		8.3		7.7		26.6		8.8
PA	49.5		36.8		30.5		35.2		8.4		10.7		8.5		3.2		7.0		189.8		187.2		0.6		3.4		14.2		1.4
MI	36.3		30.0		20.0		14.2		8.0		41.9		27.3		4.4		5.6		187.7		175.6		2.8		14.1		1.5		6.9
NC	36.7		41.7		18.1		13.8		9.6		28.1		23.7		6.5		6.3		184.5		175.1		3.2		8.8		17.3		5.3
TN	32.1		32.9		17.9		8.6		8.1		15.4		18.5		4.5		4.1		142.1		134.0		6.5		3.9		17.5		6.1
KY	21.4		27.6		15.7		2.8		4.9		22.5		21.7		5.0		4.3		125.9		121.1		3.9		3.9		3.8		3.9
AL	20.0		25.2		9.5		0.6		5.3		18.0		26.3		5.5		6.1		116.5		115.8		(2.1	)	3.8		4.7		0.6
VA	27.4		24.0		16.6		13.7		8.2		10.4		8.4		2.8		3.6		115.1		111.3		2.9		8.2		(10.5	)	3.4
MN	24.5		19.8		8.9		9.7		3.9		15.2		15.3		4.0		5.1		106.4		104.4		(0.1	)	2.9		26.9		1.9
WI	24.6		21.3		11.4		22.4		5.1		7.4		7.5		2.9		3.1		105.7		102.3		2.5		3.4		28.6		3.3
TX	40.1		22.7		23.5		1.2		4.4		—		—		—		13.7		105.6		98.0		8.2		(59.4	)	4.9		7.7
MO	24.3		26.5		12.9		11.4		4.5		5.9		8.2		1.7		6.0		101.4		95.6		4.0		13.1		18.4		6.1
NY	26.6		14.0		9.5		3.2		3.1		5.8		5.8		2.1		1.9		72.0		59.6		9.1		nm		(8.2	)	21.0
MD	18.1		10.2		12.9		9.2		2.8		8.0		6.5		1.8		1.9		71.4		65.2		4.1		32.5		2.3		9.4
AR	9.2		16.3		10.0		1.6		3.5		8.1		8.7		2.1		2.3		61.8		55.9		12.5		7.4		6.2		10.7
IA	13.1		14.7		5.9		11.7		4.5		3.9		4.4		1.3		1.6		61.1		65.5		(7.7	)	0.2		(10.6	)	(6.6	)
FL	21.4		12.0		7.3		0.7		2.2		3.4		1.3		0.5		6.0		54.8		52.4		2.0		8.6		22.4		4.5
AZ	14.3		8.3		10.2		4.9		2.2		4.8		3.7		1.4		2.3		52.1		46.8		11.1		13.1		5.3		11.2
SC	10.4		9.9		7.2		2.7		2.7		8.6		6.3		1.4		2.5		51.7		47.5		4.8		17.8		12.1		9.0
UT	15.6		7.6		9.8		0.4		2.6		6.7		3.7		0.9		2.6		49.9		47.4		4.5		6.2		12.9		5.3
KS	8.8		11.4		5.1		4.8		2.6		3.6		5.4		1.0		1.4		44.1		44.5		(0.8	)	(4.7	)	30.4		(0.9	)
CO	14.4		7.6		9.2		0.5		1.7		0.1		0.3		—		5.4		39.2		37.0		4.5		17.4		14.5		5.9
MT	14.9		8.8		8.1		0.1		1.3		2.2		2.3		0.5		0.8		39.0		36.1		9.7		(2.3	)	13.5		8.1
OR	11.1		6.2		7.4		—		1.6		3.2		1.5		0.5		4.1		35.6		28.2		23.8		58.4		10.6		26.1
NE	7.8		9.2		4.4		7.4		1.8		0.6		0.9		0.2		1.5		33.8		33.7		(0.3	)	3.2		7.1		0.2
ID	10.9		7.0		6.0		0.3		1.5		2.9		1.9		0.6		1.3		32.4		30.8		4.5		6.6		8.9		5.0
WV	7.0		7.0		5.4		0.8		1.0		—		0.4		0.1		2.4		24.1		26.5		(9.7	)	(1.3	)	(2.8	)	(9.0	)
VT	3.8		4.4		2.3		4.2		1.4		1.2		1.3		0.4		0.8		19.8		19.1		2.2		8.0		13.7		3.4
CT	3.4		3.5		1.8		1.8		0.6		3.0		2.8		1.0		1.1		19.0		12.9		10.1		nm		62.7		47.1
WA	6.2		4.0		4.5		—		1.1		—		—		—		1.7		17.5		16.1		8.5		nm		10.0		8.6
NM	6.5		3.9		4.4		0.7		1.3		—		—		—		0.7		17.5		15.9		10.4		9.3		4.0		10.1
ND	5.8		3.9		3.0		—		1.0		0.6		0.7		0.2		0.3		15.5		17.1		(10.5	)	1.1		17.1		(9.1	)
NH	3.2		2.7		1.3		2.1		0.8		1.4		1.4		0.4		0.6		13.9		14.0		(3.0	)	3.3		(1.1	)	(1.5	)
DE	4.6		2.6		2.2		2.2		0.8		—		—		—		0.4		12.8		12.7		0.1		(71.2	)	27.2		0.9
SD	2.3		2.8		1.6		1.9		0.9		—		—		—		0.6		10.1		10.0		0.2		nm		25.9		1.3
WY	2.0		1.9		1.0		—		0.3		—		—		—		0.5		5.7		5.6		2.8		(8.5	)	1.7		2.7
NJ	0.7		0.3		0.2		1.5		0.2		0.2		0.4		0.2		0.2		3.9		2.6		10.1		nm		nm		42.8
All Other	3.0		1.6		2.2		3.8		1.8		0.1		0.3		0.1		1.7		14.6		13.4		(2.3	)	nm		76.6		6.8
Total	$	830.0	$	716.2	$	465.0	$	276.2	$	173.0	$	431.8	$	395.9	$	104.8	$	150.5	$	3,543.4	$	3,388.3	3.7		5.9		10.0		4.6
Other Direct	—		1.8		2.9		5.1		—		8.0		0.1		—		—		17.9		18.2		(4.6	)	(0.6	)	nm		(2.8	)
Total Direct	$	830.0	$	718.0	$	467.9	$	281.3	$	173.0	$	439.8	$	396.0	$	104.8	$	150.5	$	3,561.3	$	3,406.5	3.7		5.9		10.0		4.5
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		$	259		$	278		$	285		$	238		$	247		$	274		$	266		$	563		$	540		$	822		$	787			$	1,025
Earned premiums		265			263			257			257			257			252			244			520			496			785			753				1,010
Current accident year before catastrophe losses		57.4		%	58.7		%	60.2		%	61.5		%	53.6		%	59.6		%	59.2		%	59.5		%	59.4		%	58.8		%	57.4		%		58.5		%
Current accident year catastrophe losses		—			—			—			—			—			—			—			—			—			—			—				—
Prior accident years before catastrophe losses		(2.6		)	(7.5		)	(1.2		)	(10.6		)	(6.2		)	(9.1		)	1.1			(4.4		)	(4.1		)	(3.8		)	(4.8		)		(6.3		)
Prior accident years catastrophe losses		—			—			—			—			—			—			—			—			—			—			—
Total loss and loss expense ratio		54.8		%	51.2		%	59.0		%	50.9		%	47.4		%	50.5		%	60.3		%	55.1		%	55.3		%	55.0		%	52.6		%		52.2		%
Commercial property:
Written premiums		$	224		$	223		$	225		$	203		$	218		$	218		$	206		$	448		$	424		$	672		$	642			$	845
Earned premiums		217			215			214			211			205			201			196			429			399			646			604				815
Current accident year before catastrophe losses		47.7		%	36.3		%	51.4		%	44.1		%	47.0		%	42.1		%	53.6		%	43.8		%	47.8		%	45.2		%	47.5		%		46.6		%
Current accident year catastrophe losses		11.5			57.6			13.6			5.0			5.2			19.6			16.7			35.7			18.2			27.5			13.8				11.5
Prior accident years before catastrophe losses		(2.7		)	(5.4		)	(1.7		)	3.0			(0.2		)	(2.0		)	(1.9		)	(3.6		)	(2.0		)	(3.3		)	(1.4		)		(0.3		)
Prior accident years catastrophe losses		1.6			(1.0		)	(2.2		)	(1.3		)	0.3			0.1			(3.8		)	(1.6		)	(1.8		)	(0.5		)	(1.1		)		(1.1		)
Total loss and loss expense ratio		58.1		%	87.5		%	61.1		%	50.8		%	52.3		%	59.8		%	64.6		%	74.3		%	62.2		%	68.9		%	58.8		%		56.7		%
Commercial auto:
Written premiums		$	151		$	156		$	158		$	140		$	137		$	149		$	149		$	314		$	298		$	465		$	435			$	575
Earned premiums		151			147			144			145			141			139			136			291			275			442			416				561
Current accident year before catastrophe losses		76.9		%	76.3		%	77.5		%	71.2		%	71.4		%	75.8		%	72.3		%	76.9		%	74.1		%	76.9		%	73.1		%		72.6		%
Current accident year catastrophe losses		0.8			2.2			0.6			0.1			—			1.3			—			1.4			0.7			1.2			0.5				0.4
Prior accident years before catastrophe losses		2.8			9.1			5.7			3.0			3.2			8.3			8.6			7.4			8.4			5.9			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		)		(0.1		)
Total loss and loss expense ratio		80.5		%	87.6		%	83.7		%	74.3		%	74.5		%	85.2		%	80.8		%	85.6		%	83.0		%	83.9		%	80.1		%		78.6		%
Workers' compensation:
Written premiums		$	83		$	86		$	105		$	81		$	83		$	89		$	104		$	191		$	193		$	274		$	276			$	357
Earned premiums		90			89			89			91			93			90			93			178			183			268			276				367
Current accident year before catastrophe losses		72.5		%	70.9		%	73.3		%	73.2		%	71.1		%	77.6		%	71.5		%	72.2		%	74.5		%	72.2		%	73.4		%		73.3		%
Current accident year catastrophe losses		—			—			—			—			—			—			—			—			—			—			—				—
Prior accident years before catastrophe losses		(18.1		)	(25.5		)	(14.5		)	(14.0		)	(26.4		)	(44.8		)	(16.1		)	(20.1		)	(30.3		)	(19.4		)	(29.0		)		(25.3		)
Prior accident years catastrophe losses		—			—			—			—			—			—			—			—			—			—			—				—
Total loss and loss expense ratio		54.4		%	45.4		%	58.8		%	59.2		%	44.7		%	32.8		%	55.4		%	52.1		%	44.2		%	52.8		%	44.4		%		48.0		%
Other commercial:
Written premiums		$	60		$	54		$	54		$	50		$	60		$	55		$	58		$	108		$	113		$	168		$	173			$	223
Earned premiums		56			57			56			57			61			61			64			113			125			169			186				243
Current accident year before catastrophe losses		41.5		%	37.8		%	46.3		%	37.3		%	45.9		%	42.7		%	54.4		%	42.1		%	48.6		%	41.9		%	47.7		%		45.3		%
Current accident year catastrophe losses		1.6			3.8			0.6			0.4			1.2			3.4			9.7			2.2			6.6			2.0			4.9				3.8
Prior accident years before catastrophe losses		(19.1		)	(28.2		)	(22.9		)	(2.9		)	(9.8		)	(13.6		)	(0.2		)	(25.5		)	(6.7		)	(23.4		)	(7.7		)		(6.6		)
Prior accident years catastrophe losses		0.2			1.3			0.2			(0.7		)	(2.1		)	1.2			(2.6		)	0.7			(0.7		)	0.5			(1.2		)		(1.1		)
Total loss and loss expense ratio		24.2		%	14.7		%	24.2		%	34.1		%	35.2		%	33.7		%	61.3		%	19.5		%	47.8		%	21.0		%	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		$	154		$	123		$	124		$	144		$	142		$	114		$	277		$	256		$	431		$	400			$	524
Earned premiums		137			135			131			130			128			125			123			266			248			403			376				506
Current accident year before catastrophe losses		79.6		%	79.5		%	79.1		%	76.6		%	74.5		%	79.7		%	81.6		%	79.3		%	80.8		%	79.4		%	78.6		%		78.1		%
Current accident year catastrophe losses		1.1			1.9			1.0			0.7			0.6			2.3			0.2			1.4			1.2			1.3			1.0				0.9
Prior accident years before catastrophe losses		6.8			10.6			(6.3		)	2.3			1.2			5.8			3.0			2.3			4.4			3.8			3.3				3.0
Prior accident years catastrophe losses		(0.2		)	(0.1		)	(0.3		)	(0.1		)	(0.1		)	(0.1		)	(0.2		)	(0.2		)	(0.3		)	(0.2		)	(0.2		)		(0.1		)
Total loss and loss expense ratio		87.3		%	91.9		%	73.5		%	79.5		%	76.2		%	87.7		%	84.6		%	82.8		%	86.1		%	84.3		%	82.7		%		81.9		%
Homeowner:
Written premiums		$	138		$	140		$	103		$	112		$	132		$	132		$	98		$	243		$	230		$	381		$	362			$	474
Earned premiums		122			121			119			118			117			114			114			240			228			362			345				463
Current accident year before catastrophe losses		46.8		%	49.1		%	51.5		%	50.2		%	52.8		%	52.9		%	55.5		%	50.3		%	54.1		%	49.1		%	53.7		%		52.8		%
Current accident year catastrophe losses		19.5			25.4			6.4			3.9			12.6			25.6			12.3			16.0			19.0			17.1			16.8				13.5
Prior accident years before catastrophe losses		0.5			(0.8		)	(5.2		)	—			(1.0		)	(2.4		)	(5.1		)	(3.0		)	(3.7		)	(1.8		)	(2.8		)		(2.1		)
Prior accident years catastrophe losses		(0.9		)	0.8			(1.6		)	(0.5		)	(0.1		)	(0.3		)	(1.2		)	(0.4		)	(0.7		)	(0.5		)	(0.5		)		(0.5		)
Total loss and loss expense ratio		65.9		%	74.5		%	51.1		%	53.6		%	64.3		%	75.8		%	61.5		%	62.9		%	68.7		%	63.9		%	67.2		%		63.7		%
Other personal:
Written premiums		$	37		$	36		$	30		$	30		$	36		$	35		$	29		$	66		$	64		$	103		$	100			$	130
Earned premiums		34			32			33			32			32			33			31			65			64			99			96				128
Current accident year before catastrophe losses		60.2		%	42.0		%	44.2		%	49.9		%	70.1		%	58.2		%	49.6		%	43.1		%	53.9		%	48.9		%	59.4		%		57.0		%
Current accident year catastrophe losses		2.6			4.7			5.8			0.3			1.2			8.4			2.8			5.2			5.6			4.4			4.1				3.2
Prior accident years before catastrophe losses		(11.5		)	(13.5		)	(4.6		)	4.1			7.6			(4.9		)	1.1			(9.0		)	(1.9		)	(9.9		)	1.3				2.0
Prior accident years catastrophe losses		(0.4		)	0.0			0.3			(0.1		)	(0.1		)	—			(0.8		)	0.1			(0.4		)	(0.1		)	(0.3		)		(0.3		)
Total loss and loss expense ratio		50.9		%	33.2		%	45.7		%	54.2		%	78.8		%	61.7		%	52.7		%	39.4		%	57.2		%	43.3		%	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		$	48		$	51		$	45		$	44		$	43		$	46		$	42		$	96		$	88		$	144		$	131			$	175
Earned premiums		48			45			43			44			42			42			40			88			82			136			124				168
Current accident year before catastrophe losses		57.2		%	56.7		%	63.1		%	51.3		%	56.9		%	69.3		%	72.1		%	59.8		%	70.7		%	58.9		%	65.9		%		62.1		%
Current accident year catastrophe losses		0.2			3.2			0.3			0.2			0.3			0.6			1.2			1.9			0.9			1.3			0.7				0.5
Prior accident years before catastrophe losses		(25.5		)	(1.9		)	(31.5		)	(32.5		)	(15.4		)	(20.2		)	(13.6		)	(16.4		)	(17.0		)	(19.6		)	(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		)		(0.1		)
Total loss and loss expense ratio		31.9		%	58.0		%	31.7		%	18.9		%	41.9		%	49.6		%	59.4		%	45.2		%	54.4		%	40.5		%	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 nine months ended September 30, 2016
Commercial casualty	$	237	$	120	$	357	$	21		$	53		$	5		$	79		$	258		$	53		$	125		$	436
Commercial property	367		29		396		88			(25		)	13			76			455			(25		)	42			472
Commercial auto	260		46		306		26			29			9			64			286			29			55			370
Workers' compensation	124		27		151		(8		)	11			1			4			116			11			28			155
Other commercial	52		14		66		(19		)	(1		)	(16		)	(36		)	33			(1		)	(2		)	30
Total commercial lines	1,040		236		1,276		108			67			12			187			1,148			67			248			1,463

Personal auto	260		47		307		11			31			(7		)	35			271			31			40			342
Homeowners	190		20		210		14			5			3			22			204			5			23			232
Other personal	44		3		47		(2		)	(3		)	—			(5		)	42			(3		)	3			42
Total personal lines	494		70		564		23			33			(4		)	52			517			33			66			616

Excess & surplus lines	26		16		42		3			5			5			13			29			5			21			55
Cincinnati Re	1		1		2		4			21			—			25			5			21			1			27
Total property casualty	$	1,561	$	323	$	1,884	$	138		$	126		$	13		$	277		$	1,699		$	126		$	336		$	2,161

Ceded loss and loss expense incurred for the nine months ended September 30, 2016
Commercial casualty	$	1	$	1	$	2	$	3		$	(1	)	$	1		$	3		$	4		$	(1	)	$	2		$	5
Commercial property	12		—		12		15			—			—			15			27			—			—			27
Commercial auto	—		—		—		—			—			—			—			—			—			—			—
Workers' compensation	10		—		10		3			(2		)	—			1			13			(2		)	—			11
Other commercial	2		—		2		(8		)	—			1			(7		)	(6		)	—			1			(5		)
Total commercial lines	25		1		26		13			(3		)	2			12			38			(3		)	3			38

Personal auto	2		—		2		—			1			—			1			2			1			—			3
Homeowners	—		—		—		—			—			—			—			—			—			—			—
Other personal	—		—		—		—			(1		)	—			(1		)	—			(1		)	—			(1		)
Total personal lines	2		—		2		—			—			—			—			2			—			—			2

Excess & surplus lines	1		—		1		—			(1		)	—			(1		)	1			(1		)	—			—
Cincinnati Re	1		1		2		2			7			—			9			3			7			1			11
Total property casualty	$	29	$	2	$	31	$	15		$	3		$	2		$	20		$	44		$	3		$	4		$	51

Net loss and loss expense incurred for the nine months ended September 30, 2016
Commercial casualty	$	236	$	119	$	355	$	18		$	54		$	4		$	76		$	254		$	54		$	123		$	431
Commercial property	355		29		384		73			(25		)	13			61			428			(25		)	42			445
Commercial auto	260		46		306		26			29			9			64			286			29			55			370
Workers' compensation	114		27		141		(11		)	13			1			3			103			13			28			144
Other commercial	50		14		64		(11		)	(1		)	(17		)	(29		)	39			(1		)	(3		)	35
Total commercial lines	1,015		235		1,250		95			70			10			175			1,110			70			245			1,425

Personal auto	258		47		305		11			30			(7		)	34			269			30			40			339
Homeowners	190		20		210		14			5			3			22			204			5			23			232
Other personal	44		3		47		(2		)	(2		)	—			(4		)	42			(2		)	3			43
Total personal lines	492		70		562		23			33			(4		)	52			515			33			66			614

Excess & surplus lines	25		16		41		3			6			5			14			28			6			21			55
Cincinnati Re	—		—		—		2			14			—			16			2			14			—			16
Total property casualty	$	1,532	$	321	$	1,853	$	123		$	123		$	11		$	257		$	1,655		$	123		$	332		$	2,110



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 September 30, 2016
Commercial casualty	$	100		$	41	$	141		$	(16	)	$	15		$	7		$	6		$	84		$	15		$	48		$	147
Commercial property	139			11		150			(9		)	(17		)	2			(24		)	130			(17		)	13			126
Commercial auto	96			15		111			10			(3		)	2			9			106			(3		)	17			120
Workers' compensation	38			9		47			3			2			1			6			41			2			10			53
Other commercial	17			5		22			(2		)	(1		)	(5		)	(8		)	15			(1		)	—			14
Total commercial lines	390			81		471			(14		)	(4		)	7			(11		)	376			(4		)	88			460

Personal auto	89			15		104			12			3			1			16			101			3			16			120
Homeowners	71			7		78			10			(8		)	1			3			81			(8		)	8			81
Other personal	14			1		15			3			—			—			3			17			—			1			18
Total personal lines	174			23		197			25			(5		)	2			22			199			(5		)	25			219

Excess & surplus lines	7			6		13			1			(1		)	—			—			8			(1		)	6			13
Cincinnati Re	—			1		1			1			6			—			7			1			6			1			8
Total property casualty	$	571		$	111	$	682		$	13		$	(4	)	$	9		$	18		$	584		$	(4	)	$	120		$	700

Ceded loss and loss expense incurred for the three months ended September 30, 2016
Commercial casualty	$	1		$	1	$	2		$	(1	)	$	2		$	(1	)	$	—		$	—		$	2		$	—		$	2
Commercial property	12			—		12			(13		)	—			—			(13		)	(1		)	—			—			(1		)
Commercial auto	—			—		—			—			—			—			—			—			—			—			—
Workers' compensation	2			—		2			(1		)	1			—			—			1			1			—			2
Other commercial	1			—		1			(1		)	—			1			—			—			—			1			1
Total commercial lines	16			1		17			(16		)	3			—			(13		)	—			3			1			4

Personal auto	1			—		1			1			—			—			1			2			—			—			2
Homeowners	—			—		—			—			—			—			—			—			—			—			—
Other personal	—			—		—			—			—			—			—			—			—			—			—
Total personal lines	1			—		1			1			—			—			1			2			—			—			2

Excess & surplus lines	—			—		—			—			(2		)	—			(2		)	—			(2		)	—			(2		)
Cincinnati Re	1			1		2			1			3			—			4			2			3			1			6
Total property casualty	$	18		$	2	$	20		$	(14	)	$	4		$	—		$	(10	)	$	4		$	4		$	2		$	10

Net loss and loss expense incurred for the three months ended September 30, 2016
Commercial casualty	$	99		$	40	$	139		$	(15	)	$	13		$	8		$	6		$	84		$	13		$	48		$	145
Commercial property	127			11		138			4			(17		)	2			(11		)	131			(17		)	13			127
Commercial auto	96			15		111			10			(3		)	2			9			106			(3		)	17			120
Workers' compensation	36			9		45			4			1			1			6			40			1			10			51
Other commercial	16			5		21			(1		)	(1		)	(6		)	(8		)	15			(1		)	(1		)	13
Total commercial lines	374			80		454			2			(7		)	7			2			376			(7		)	87			456

Personal auto	88			15		103			11			3			1			15			99			3			16			118
Homeowners	71			7		78			10			(8		)	1			3			81			(8		)	8			81
Other personal	14			1		15			3			—			—			3			17			—			1			18
Total personal lines	173			23		196			24			(5		)	2			21			197			(5		)	25			217

Excess & surplus lines	7			6		13			1			1			—			2			8			1			6			15
Cincinnati Re	(1		)	—		(1		)	—			3			—			3			(1		)	3			—			2
Total property casualty	$	553		$	109	$	662		$	27		$	(8	)	$	9		$	28		$	580		$	(8	)	$	118		$	690



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		$	1,036		$	1,057		$	1,028		$	925		$	999		$	1,018		$	983		$	2,085		$	2,001		$	3,121		$	3,000			$	3,925
Agency new business written premiums		149			143			125			140			138			138			116			268			254			417			392				532
Cincinnati Re net written premiums		21			16			19			33			—			—			—			35			—			56			—				33
Other written premiums		(31		)	(22		)	(25		)	(43		)	(39		)	(14		)	(33		)	(47		)	(47		)	(78		)	(86		)		(129		)
Net written premiums – statutory*		$	1,175		$	1,194		$	1,147		$	1,055		$	1,098		$	1,142		$	1,066		$	2,341		$	2,208		$	3,516		$	3,306			$	4,361
Unearned premium change		(42		)	(80		)	(51		)	40			(22		)	(83		)	(25		)	(131		)	(108		)	(173		)	(130		)		(90		)
Earned premiums		$	1,133		$	1,114		$	1,096		$	1,095		$	1,076		$	1,059		$	1,041		$	2,210		$	2,100		$	3,343		$	3,176			$	4,271
Year over year change %
Agency renewal written premiums		4		%	4		%	5		%	2		%	4		%	5		%	3		%	4		%	4		%	4		%	4		%		3		%
Agency new business written premiums		8			4			8			15			10			4			(6		)	6			(1		)	6			3				6
Cincinnati Re net written premiums		nm			nm			—			—			—			—			—			nm			—			nm			—				—
Other written premiums		21			(57		)	24			(5		)	15			44			21			—			30			9			24				16
Net written premiums – statutory*		7			5			8			7			6			6			3			6			4			6			5				5
Paid losses and loss expenses
Losses paid		$	553		$	522		$	457		$	498		$	511		$	501		$	448		$	979		$	949		$	1,532		$	1,460			$	1,958
Loss expenses paid		109			107			105			103			93			97			98			212			195			321			288				391
Loss and loss expenses paid		$	662		$	629		$	562		$	601		$	604		$	598		$	546		$	1,191		$	1,144		$	1,853		$	1,748			$	2,349
Incurred losses and loss expenses
Loss and loss expense incurred		$	690		$	759		$	661		$	616		$	613		$	654		$	689		$	1,420		$	1,343		$	2,110		$	1,956			$	2,572
Loss and loss expenses paid as a % of incurred		95.9		%	82.9		%	85.0		%	97.6		%	98.5		%	91.4		%	79.2		%	83.9		%	85.2		%	87.8		%	89.4		%		91.3		%
Statutory combined ratio
Loss ratio		50.5		%	58.8		%	50.2		%	45.3		%	46.8		%	52.7		%	54.4		%	54.5		%	53.6		%	53.2		%	51.3		%		49.8		%
Loss adjustment expense ratio		10.5			9.4			10.1			11.0			10.1			9.1			11.7			9.7			10.3			9.9			10.2				10.4
Net underwriting expense ratio		30.9			29.7			29.9			32.3			30.6			28.9			30.0			29.9			29.4			30.3			29.8				30.4
Statutory combined ratio		91.9		%	97.9		%	90.2		%	88.6		%	87.5		%	90.7		%	96.1		%	94.1		%	93.3		%	93.4		%	91.3		%		90.6		%
Contribution from catastrophe losses		4.9			14.8			3.1			1.2			2.5			7.5			4.1			9.0			5.8			7.6			4.7				3.7
Statutory combined ratio excl. catastrophe losses		87.0		%	83.1		%	87.1		%	87.4		%	85.0		%	83.2		%	92.0		%	85.1		%	87.5		%	85.8		%	86.6		%		86.9		%
GAAP combined ratio
GAAP combined ratio		92.4		%	99.3		%	91.4		%	87.0		%	87.8		%	92.4		%	97.5		%	95.4		%	94.9		%	94.4		%	92.5		%		91.1		%
Contribution from catastrophe losses		4.9			14.8			3.1			1.2			2.5			7.5			4.1			9.0			5.8			7.6			4.7				3.7
GAAP combined ratio excl. catastrophe losses		87.5		%	84.5		%	88.3		%	85.8		%	85.3		%	84.9		%	93.4		%	86.4		%	89.1		%	86.8		%	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		$	698		$	718		$	758		$	649		$	678		$	699		$	730		$	1,476		$	1,429		$	2,174		$	2,107			$	2,756
Agency new business written premiums		101			93			87			97			96			93			79			180			172			281			268				365
Other written premiums		(22		)	(14		)	(18		)	(34		)	(31		)	(5		)	(26		)	(32		)	(31		)	(54		)	(62		)		(96		)
Net written premiums – statutory*		$	777		$	797		$	827		$	712		$	743		$	787		$	783		$	1,624		$	1,570		$	2,401		$	2,313			$	3,025
Unearned premium change		2			(26		)	(67		)	49			14			(42		)	(50		)	(93		)	(92		)	(91		)	(78		)		(29		)
Earned premiums		$	779		$	771		$	760		$	761		$	757		$	745		$	733		$	1,531		$	1,478		$	2,310		$	2,235			$	2,996
Year over year change %
Agency renewal written premiums		3		%	3		%	4		%	1		%	4		%	4		%	2		%	3		%	3		%	3		%	4		%		3		%
Agency new business written premiums		5			—			10			13			8			(2		)	(12		)	5			(7		)	5			(2		)		1
Other written premiums		29			(180		)	31			(6		)	14			69			19			(3		)	35			13			26				17
Net written premiums – statutory*		5			1			6			2			6			5			2			3			3			4			4				4
Paid losses and loss expenses
Losses paid		$	373		$	342		$	300		$	331		$	324		$	329		$	303		$	642		$	632		$	1,015		$	956			$	1,287
Loss expenses paid		80			78			76			76			68			71			73			154			144			234			212				288
Loss and loss expenses paid		$	453		$	420		$	376		$	407		$	392		$	400		$	376		$	796		$	776		$	1,249		$	1,168			$	1,575
Incurred losses and loss expenses
Loss and loss expense incurred		$	456		$	500		$	469		$	419		$	398		$	417		$	474		$	969		$	891		$	1,425		$	1,289			$	1,708
Loss and loss expenses paid as a % of incurred		99.3		%	84.0		%	80.2		%	97.1		%	98.5		%	95.9		%	79.3		%	82.1		%	87.1		%	87.6		%	90.6		%		92.2		%
Statutory combined ratio
Loss ratio		47.3		%	56.0		%	49.9		%	43.3		%	42.2		%	46.9		%	52.2		%	53.0		%	49.6		%	51.1		%	47.1		%		46.1		%
Loss adjustment expense ratio		11.2			8.9			11.8			11.8			10.2			9.1			12.5			10.3			10.7			10.6			10.5				10.9
Net underwriting expense ratio		32.6			30.9			29.7			33.5			32.2			29.9			29.9			30.3			29.9			31.0			30.6				31.3
Statutory combined ratio		91.1		%	95.8		%	91.4		%	88.6		%	84.6		%	85.9		%	94.6		%	93.6		%	90.2		%	92.7		%	88.2		%		88.3		%
Contribution from catastrophe losses		3.9			16.6			3.4			1.0			1.4			5.9			4.0			10.0			5.0			8.0			3.8				3.1
Statutory combined ratio excl. catastrophe losses		87.2		%	79.2		%	88.0		%	87.6		%	83.2		%	80.0		%	90.6		%	83.6		%	85.2		%	84.7		%	84.4		%		85.2		%
GAAP combined ratio
GAAP combined ratio		90.8		%	96.8		%	93.6		%	86.8		%	84.0		%	87.2		%	96.6		%	95.2		%	91.9		%	93.7		%	89.2		%		88.6		%
Contribution from catastrophe losses		3.9			16.6			3.4			1.0			1.4			5.9			4.0			10.0			5.0			8.0			3.8				3.1
GAAP combined ratio excl. catastrophe losses		86.9		%	80.2		%	90.2		%	85.8		%	82.6		%	81.3		%	92.6		%	85.2		%	86.9		%	85.7		%	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		$	303		$	302		$	236		$	245		$	288		$	285		$	223		$	538		$	508		$	841		$	796			$	1,041
Agency new business written premiums		32			34			25			27			30			30			24			59			54			91			84				111
Other written premiums		(6		)	(6		)	(5		)	(6		)	(6		)	(6		)	(6		)	(11		)	(12		)	(17		)	(18		)		(24		)
Net written premiums – statutory*		$	329		$	330		$	256		$	266		$	312		$	309		$	241		$	586		$	550		$	915		$	862			$	1,128
Unearned premium change		(36		)	(42		)	27			14			(35		)	(37		)	27			(15		)	(10		)	(51		)	(45		)		(31		)
Earned premiums		$	293		$	288		$	283		$	280		$	277		$	272		$	268		$	571		$	540		$	864		$	817			$	1,097
Year over year change %
Agency renewal written premiums		5		%	6		%	6		%	5		%	4		%	3		%	2		%	6		%	3		%	6		%	3		%		4		%
Agency new business written premiums		7			13			4			13			30			25			14			9			20			8			24				21
Other written premiums		—			—			17			25			14			—			25			8			14			6			14				17
Net written premiums – statutory*		5			7			6			7			6			5			4			7			5			6			5				6
Paid losses and loss expenses
Losses paid		$	173		$	168		$	151		$	160		$	180		$	165		$	139		$	319		$	304		$	492		$	484			$	644
Loss expenses paid		24			23			24			23			20			22			22			47			44			71			64				87
Loss and loss expenses paid		$	197		$	191		$	175		$	183		$	200		$	187		$	161		$	366		$	348		$	563		$	548			$	731
Incurred losses and loss expenses
Loss and loss expense incurred		$	217		$	224		$	173		$	184		$	198		$	216		$	191		$	397		$	407		$	614		$	605			$	789
Loss and loss expenses paid as a % of incurred		90.8		%	85.3		%	101.2		%	99.5		%	101.0		%	86.6		%	84.3		%	92.2		%	85.5		%	91.7		%	90.6		%		92.6		%
Statutory combined ratio
Loss ratio		65.1		%	68.5		%	56.2		%	57.7		%	62.5		%	71.1		%	61.9		%	62.4		%	66.6		%	63.3		%	65.2		%		63.3		%
Loss adjustment expense ratio		9.1			9.5			4.7			8.0			9.0			8.5			9.1			7.1			8.8			7.8			8.8				8.6
Net underwriting expense ratio		27.1			27.2			31.1			29.4			27.0			26.2			30.4			28.9			28.0			28.2			27.7				28.1
Statutory combined ratio		101.3		%	105.2		%	92.0		%	95.1		%	98.5		%	105.8		%	101.4		%	98.4		%	103.4		%	99.3		%	101.7		%		100.0		%
Contribution from catastrophe losses		8.4			12.4			3.0			1.8			5.6			12.6			4.9			7.7			8.8			8.0			7.7				6.2
Statutory combined ratio excl. catastrophe losses		92.9		%	92.8		%	89.0		%	93.3		%	92.9		%	93.2		%	96.5		%	90.7		%	94.6		%	91.3		%	94.0		%		93.8		%
GAAP combined ratio
GAAP combined ratio		103.4		%	107.5		%	90.1		%	94.0		%	100.9		%	109.2		%	101.4		%	98.9		%	105.3		%	100.4		%	103.8		%		101.3		%
Contribution from catastrophe losses		8.4			12.4			3.0			1.8			5.6			12.6			4.9			7.7			8.8			8.0			7.7				6.2
GAAP combined ratio excl. catastrophe losses		95.0		%	95.1		%	87.1		%	92.2		%	95.3		%	96.6		%	96.5		%	91.2		%	96.5		%	92.4		%	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		$	35		$	37		$	34		$	31		$	33		$	34		$	30		$	71		$	64		$	106		$	97			$	128
Agency new business written premiums		16			16			13			16			12			15			13			29			28			45			40				56
Other written premiums		(3		)	(2		)	(2		)	(3		)	(2		)	(3		)	(1		)	(4		)	(4		)	(7		)	(6		)		(9		)
Net written premiums – statutory*		$	48		$	51		$	45		$	44		$	43		$	46		$	42		$	96		$	88		$	144		$	131			$	175
Unearned premium change		—			(6		)	(2		)	—			(1		)	(4		)	(2		)	(8		)	(6		)	(8		)	(7		)		(7		)
Earned premiums		$	48		$	45		$	43		$	44		$	42		$	42		$	40		$	88		$	82		$	136		$	124			$	168
Year over year change %
Agency renewal written premiums		6		%	9		%	13		%	11		%	14		%	17		%	20		%	11		%	19		%	9		%	17		%		15		%
Agency new business written premiums		33			7			—			33			(8		)	7			8			4			8			13			3				10
Other written premiums		(50		)	33			(100		)	(200		)	33			—			50			0			20			(17		)	25				—
Net written premiums – statutory*		12			11			7			13			10			15			20			9			17			10			15				14
Paid losses and loss expenses
Losses paid		$	7		$	12		$	6		$	6		$	8		$	8		$	5		$	18		$	13		$	25		$	21			$	27
Loss expenses paid		6			5			5			5			4			3			4			10			7			16			11				16
Loss and loss expenses paid		$	13		$	17		$	11		$	11		$	12		$	11		$	9		$	28		$	20		$	41		$	32			$	43
Incurred losses and loss expenses
Loss and loss expense incurred		$	15		$	27		$	13		$	8		$	17		$	21		$	24		$	40		$	45		$	55		$	62			$	70
Loss and loss expenses paid as a % of incurred		86.7		%	63.0		%	84.6		%	137.5		%	70.6		%	52.4		%	37.5		%	70.0		%	44.4		%	74.5		%	51.6		%		61.4		%
Statutory combined ratio
Loss ratio		21.4		%	40.0		%	15.1		%	1.1		%	26.9		%	36.1		%	44.9		%	27.9		%	40.4		%	25.6		%	35.8		%		26.7		%
Loss adjustment expense ratio		10.5			18.0			16.6			17.8			15.0			13.5			14.5			17.3			14.0			14.9			14.3				15.2
Net underwriting expense ratio		30.8			29.9			30.3			31.8			29.4			29.1			29.9			30.1			29.5			30.4			29.5				30.0
Statutory combined ratio		62.7		%	87.9		%	62.0		%	50.7		%	71.3		%	78.7		%	89.3		%	75.3		%	83.9		%	70.9		%	79.6		%		71.9		%
Contribution from catastrophe losses		0.2			3.2			0.2			0.1			0.4			0.5			0.9			1.8			0.7			1.2			0.6				0.4
Statutory combined ratio excl. catastrophe losses		62.5		%	84.7		%	61.8		%	50.6		%	70.9		%	78.2		%	88.4		%	73.5		%	83.2		%	69.7		%	79.0		%		71.5		%
GAAP combined ratio
GAAP combined ratio		61.3		%	87.4		%	61.1		%	48.1		%	69.9		%	76.0		%	88.3		%	74.6		%	82.1		%	69.9		%	77.9		%		70.0		%
Contribution from catastrophe losses		0.2			3.2			0.2			0.1			0.4			0.5			0.9			1.8			0.7			1.2			0.6				0.4
GAAP combined ratio excl. catastrophe losses		61.1		%	84.2		%	60.9		%	48.0		%	69.5		%	75.5		%	87.4		%	72.8		%	81.4		%	68.7		%	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 September 30,											For the Nine Months Ended September 30,
(Dollars in millions)	2016			2015			Change			% Change		2016			2015			Change			% Change
Net premiums written	$	66		$	61		$	5		8		$	206		$	186		$	20		11
Net investment income	40			38			2			5		119			114			5			4
Amortization of interest maintenance reserve	2			1			1			100		4			3			1			33
Commissions and expense allowances on reinsurance ceded	1			1			—			—		4			4			—			—
Income from fees associated with separate accounts	1			2			(1		)	(50	)	4			4			—			—
Total revenues	$	110		$	103		$	7		7		$	337		$	311		$	26		8

Death benefits and matured endowments	$	28		$	23		$	5		22		$	81		$	69		$	12		17
Annuity benefits	15			14			1			7		49			44			5			11
Disability benefits and benefits under accident and health contracts	1			1			—			—		2			2			—			—
Surrender benefits and group conversions	5			5			—			0		14			13			1			8
Interest and adjustments on deposit-type contract funds	2			2			—			—		6			8			(2		)	(25	)
Increase in aggregate reserves for life and accident and health contracts	43			40			3			8		136			124			12			10
Total benefit expenses	$	94		$	85		$	9		11		$	288		$	260		$	28		11

Commissions	$	11		$	9		$	2		22		$	31		$	28		$	3		11
General insurance expenses and taxes	11			10			1			10		33			31			2			6
Increase in loading on deferred and uncollected premiums	(1		)	—			(1		)	nm		(4		)	(1		)	(3		)	nm
Net transfers from separate accounts	(2		)	—			(2		)	nm		(6		)	—			(6		)	nm
Total underwriting expenses	$	19		$	19		$	—		—		$	54		$	58		$	(4	)	(7	)

Federal and foreign income tax benefit	—			(1		)	1			100		(2		)	(4		)	2			50

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

Realized gains and losses net of capital gains tax, net	3			(2		)	5			250		5			(3		)	8			267

Net income (loss) (statutory)	$	—		$	(2	)	$	2		100		$	2		$	(6	)	$	8		133
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+