Exhibit



	Cincinnati Financial Corporation
	Supplemental Financial Data
	for the period ending September 30, 2017

		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, 2017	5
	CFC and Subsidiaries Consolidation – Three Months Ended September 30, 2017	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, 2017	15
	Loss and Loss Expense Analysis – Three Months Ended September 30, 2017	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



Cincinnati Financial Corporation
Quick Reference						—	Third Quarter 2017
(all data shown is for the three months ended or as of September 30, 2017)

(Dollars in millions except per share data)	9/30/2017			Year over year change %				9/30/2017			Year over year change %
Revenues:							Benefits and expenses:

Commercial lines net written premiums	$	778		0			Commercial lines loss and loss expenses	$	501		10
Personal lines net written premiums	355			8			Personal lines loss and loss expenses	233			7
Excess & surplus lines net written premiums	51			6			Excess & surplus lines loss and loss expenses	24			60
Cincinnati Re net written premiums	24			14			Cincinnati Re loss and loss expenses	57			nm
Property casualty net written premiums	$	1,208		3			Life and health contract holders' benefits incurred	59			(6	)
Life and accident and health net written premiums	$	63		11			Underwriting, acquisition and insurance expenses	393			3
Annuity net written premiums	6			(38	)		Interest expenses	13			0
Life, annuity and accident and health net written premiums	$	69		3			Other operating expenses	3			0
Commercial lines net earned premiums	$	792		2			Total benefits & expenses	$	1,283		12
Personal lines net earned premiums	314			7			Income before income taxes	129			(49	)
Excess & surplus lines net earned premiums	53			10			Total income tax	27			(63	)
Cincinnati Re net earned premiums	32			146
Property casualty net earned premiums	$	1,191		5			Balance Sheet:
Life and accident and health net earned premiums	56			(3	)
Investment income	153			3			Fixed maturity investments	$	10,540
Realized investment gains and losses, net	7			nm			Equity securities	6,025
Fee revenue	3			(40	)		Other investments	99
Other revenue	2			0			Total invested assets	$	16,664
Total revenues	1,412			1
							Loss and loss expense reserves	$	5,350
							Life policy and investment contract reserves	2,716
							Long-term debt and capital lease obligations	826
Income:							Shareholders' equity	7,523
Net income	$	102		(43	)
Realized investment gains and losses, net	7			(88	)		Key ratios:
Income tax on realized investment gains	(2		)	89
Realized investment gains and losses, after tax	5			(86	)		Commercial lines GAAP combined ratio	95.2		%
Operating income	97			(32	)		Personal lines GAAP combined ratio	103.1
							Excess & surplus lines GAAP combined ratio	74.8
							Cincinnati Re GAAP combined ratio	207.4
Per share (diluted):							Property casualty GAAP combined ratio	99.3

Net income	$	0.61		(44	)		Commercial lines STAT combined ratio	95.8		%
Realized investment gains and losses, net	0.04			(88	)		Personal lines STAT combined ratio	100.9
Income tax on realized investment gains	(0.01		)	92			Excess & surplus lines STAT combined ratio	77.4
Realized investment gains and losses, after tax	0.03			(86	)		Cincinnati Re STAT combined ratio	208.0
Operating income	0.58			(33	)		Property casualty STAT combined ratio	99.1
Book value	45.86			6
Weighted average shares outstanding	165.9			(1	)		Value creation ratio	3.1		%



Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Nine Months Ended September 30, 2017

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		ELIM			Total
Revenues
Premiums earned:
Property casualty	$	—		$	3,646		$	—		$	—	$	—		$	3,646
Life	—			—			223			—		—			223
Premiums ceded	—			(123		)	(50		)	—		—			(173		)
Total earned premium	—			3,523			173			—		—			3,696
Investment income, net of expenses	43			293			117			—		—			453
Realized investment gains, net	51			100			4			—		1			156
Fee revenues	—			8			4			—		—			12
Other revenues	11			1			—			3		(11		)	4
Total revenues	$	105		$	3,925		$	298		$	3	$	(10	)	$	4,321

Benefits & expenses
Losses & contract holders' benefits	$	—		$	2,415		$	236		$	—	$	—		$	2,651
Reinsurance recoveries	—			(18		)	(52		)	—		—			(70		)
Underwriting, acquisition and insurance expenses	—			1,094			63			—		—			1,157
Interest expense	39			—			—			—		—			39
Other operating expenses	21			—			—			1		(11		)	11
Total expenses	$	60		$	3,491		$	247		$	1	$	(11	)	$	3,788

Income before income taxes	$	45		$	434		$	51		$	2	$	1		$	533

Provision (benefit) for income taxes
Current operating income	$	(15	)	$	57		$	—		$	1	$	—		$	43
Capital gains/losses	18			35			2			—		—			55
Deferred	3			13			16			—		—			32
Total provision for income taxes	$	6		$	105		$	18		$	1	$	—		$	130

Net income - current year	$	39		$	329		$	33		$	1	$	1		$	403

Net income - prior year	$	29		$	427		$	32		$	2	$	1		$	491
*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, 2017

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		ELIM			Total
Revenues
Premiums earned:
Property casualty	$	—		$	1,234		$	—		$	—	$	—		$	1,234
Life	—			—			72			—		—			72
Premiums ceded	—			(43		)	(16		)	—		—			(59		)
Total earned premium	—			1,191			56			—		—			1,247
Investment income, net of expenses	14			100			39			—		—			153
Realized investment gains, net	4			2			1			—		—			7
Fee revenues	—			2			1			—		—			3
Other revenues	4			—			—			1		(3		)	2
Total revenues	$	22		$	1,295		$	97		$	1	$	(3	)	$	1,412

Benefits & expenses
Losses & contract holders' benefits	$	—		$	822		$	73		$	—	$	—		$	895
Reinsurance recoveries	—			(7		)	(14		)	—		—			(21		)
Underwriting, acquisition and insurance expenses	—			367			26			—		—			393
Interest expense	13			—			—			—		—			13
Other operating expenses	6			—			—			—		(3		)	3
Total expenses	$	19		$	1,182		$	85		$	—	$	(3	)	$	1,283

Income before income taxes	$	3		$	113		$	12		$	1	$	—		$	129

Provision (benefit) for income taxes
Current operating income	$	(7	)	$	30		$	—		$	1	$	—		$	24
Capital gains/losses	2			—			1			—		—			3
Deferred	3			(6		)	3			—		—			—
Total provision (benefit) for income taxes	$	(2	)	$	24		$	4		$	1	$	—		$	27

Net income - current year	$	5		$	89		$	8		$	—	$	—		$	102

Net income - prior year	$	15		$	153		$	10		$	1	$	1		$	180
*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)
	12/31/2017	9/30/2017		6/30/2017		3/31/2017		12/31/2016		9/30/2016		6/30/2016		3/31/2016
Cincinnati Insurance Consolidated
Fixed maturities (fair value)		$	7,082	$	7,041	$	6,866	$	6,715	$	6,843	$	6,758	$	6,607
Equities (fair value)		3,792		3,658		3,592		3,474		3,474		3,443		3,222
Fixed maturities - pretax net unrealized gain		255		247		188		163		384		414		301
Equities - pretax net unrealized gain		1,805		1,713		1,615		1,577		1,438		1,395		1,302
Loss and loss expense reserves - Statutory		5,025		4,935		4,836		4,742		4,639		4,611		4,480
Shareholders' equity - GAAP		6,041		5,979		5,870		5,746		5,926		5,848		5,655
Policyholders' surplus - Statutory		4,846		4,790		4,763		4,686		4,679		4,600		4,534

The Cincinnati Life Insurance Company
Fixed maturities (fair value)		$	3,413	$	3,409	$	3,381	$	3,316	$	3,354	$	3,320	$	3,215
Equities (fair value)		9		9		9		9		9		9		9
Fixed maturities - pretax net unrealized gain		148		145		127		107		196		186		124
Equities - pretax net unrealized gain		4		4		4		4		4		4		4
Shareholders' equity - GAAP		991		981		958		939		979		962		911
Policyholders' surplus - Statutory		210		202		199		200		202		205		207



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)	2017		2016		Change			% Change		2017		2016		Change			% Change
Underwriting income
Net premiums written	$	1,208	$	1,175	$	33		3		$	3,710	$	3,516	$	194		6
Unearned premiums increase	17		42		(25		)	(60	)	187		173		14			8
Earned premiums	$	1,191	$	1,133	$	58		5		$	3,523	$	3,343	$	180		5

Losses incurred	$	679	$	571	$	108		19		$	1,994	$	1,777	$	217		12
Defense and cost containment expenses incurred	62		54		8			15		198		138		60			43
Adjusting and other expenses incurred	74		65		9			14		205		195		10			5
Other underwriting expenses incurred	368		359		9			3		1,112		1,051		61			6
Workers compensation dividend incurred	3		5		(2		)	(40	)	10		12		(2		)	(17	)
Total underwriting deductions	$	1,186	$	1,054	$	132		13		$	3,519	$	3,173	$	346		11

Net underwriting profit	$	5	$	79	$	(74	)	(94	)	$	4	$	170	$	(166	)	(98	)

Investment income
Gross investment income earned	$	101	$	98	$	3		3		$	299	$	292	$	7		2
Net investment income earned	100		96		4			4		295		287		8			3
Net realized capital gains and losses, net	—		22		(22		)	nm		79		81		(2		)	(2	)
Net investment gains (net of tax)	$	100	$	118	$	(18	)	(15	)	$	374	$	368	$	6		2

Other income	$	2	$	2	$	—		—		$	7	$	5	$	2		40

Net income before federal income taxes	$	107	$	199	$	(92	)	(46	)	$	385	$	543	$	(158	)	(29	)
Federal and foreign income taxes incurred	$	28	$	52	$	(24	)	(46	)	$	71	$	140	$	(69	)	(49	)
Net income (statutory)	$	79	$	147	$	(68	)	(46	)	$	314	$	403	$	(89	)	(22	)
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
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Consolidated
Current accident year losses greater than $5 million		$	6		$	—		$	28		$	(7	)	$	10		$	23		$	—		$	28		$	23		$	34		$	33			$	26
Current accident year losses $1 million - $5 million		75			48			29			63			46			34			42			77			76			152			122				185
Large loss prior accident year reserve development		4			21			17			(10		)	1			3			—			38			3			42			4				(6		)
Total large losses incurred		$	85		$	69		$	74		$	46		$	57		$	60		$	42		$	143		$	102		$	228		$	159			$	205
Losses incurred but not reported		(9		)	(1		)	4			64			(7		)	34			73			3			107			(6		)	100				164
Other losses excluding catastrophe losses		499			487			467			430			467			399			402			954			801			1,453			1,269				1,699
Catastrophe losses		104			112			103			78			53			163			33			215			196			319			249				327
Total losses incurred		$	679		$	667		$	648		$	618		$	570		$	656		$	550		$	1,315		$	1,206		$	1,994		$	1,777			$	2,395
Commercial Lines
Current accident year losses greater than $5 million		$	6		$	—		$	28		$	(7	)	$	10		$	23		$	—		$	28		$	23		$	34		$	33			$	26
Current accident year losses $1 million - $5 million		56			33			26			59			34			33			36			59			69			115			103				162
Large loss prior accident year reserve development		1			19			17			(6		)	5			4			(1		)	36			3			37			8				2
Total large losses incurred		$	63		$	52		$	71		$	46		$	49		$	60		$	35		$	123		$	95		$	186		$	144			$	190
Losses incurred but not reported		1			21			(5		)	55			4			2			64			16			66			17			70				125
Other losses excluding catastrophe losses		313			292			306			269			287			244			255			598			499			911			786				1,055
Catastrophe losses		27			64			58			35			28			126			25			122			151			149			179				214
Total losses incurred		$	404		$	429		$	430		$	405		$	368		$	432		$	379		$	859		$	811		$	1,263		$	1,179			$	1,584
Personal Lines
Current accident year losses greater than $5 million		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—			$	—
Current accident year losses $1 million - $5 million		19			15			3			3			10			—			6			18			6			37			16				19
Large loss prior accident year reserve development		3			1			—			(3		)	(3		)	(2		)	1			1			(1		)	4			(4		)		(7		)
Total large losses incurred		$	22		$	16		$	3		$	—		$	7		$	(2	)	$	7		$	19		$	5		$	41		$	12			$	12
Losses incurred but not reported		(17		)	(12		)	10			10			(9		)	23			11			(2		)	34			(19		)	25				35
Other losses excluding catastrophe losses		164			164			144			150			168			141			133			308			274			472			442				592
Catastrophe losses		34			47			46			39			25			35			8			93			43			127			68				107
Total losses incurred		$	203		$	215		$	203		$	199		$	191		$	197		$	159		$	418		$	356		$	621		$	547			$	746
Excess & Surplus Lines
Current accident year losses greater than $5 million		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—			$	—
Current accident year losses $1 million - $5 million		—			—			—			—			2			1			—			—			1			—			3				3
Large loss prior accident year reserve development		—			1			—			—			(1		)	1			—			1			1			1			—				—
Total large losses incurred		$	—		$	1		$	—		$	—		$	1		$	2		$	—		$	1		$	2		$	1		$	3			$	3
Losses incurred but not reported		7			(10		)	(1		)	—			(2		)	9			(2		)	(11		)	7			(4		)	5				5
Other losses excluding catastrophe losses		8			19			8			6			11			5			9			27			14			35			25				31
Catastrophe losses		1			1			—			1			—			2			—			1			2			2			2				3
Total losses incurred		$	16		$	11		$	7		$	7		$	10		$	18		$	7		$	18		$	25		$	34		$	35			$	42

*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 property casualty data includes results from our Cincinnati Re operations.



Consolidated Cincinnati Insurance Companies
Loss Ratio Detail
	Three months ended															Six months ended				Nine months ended				Twelve months ended
	12/31/17	9/30/17		6/30/17		3/31/17		12/31/16		9/30/16		6/30/16		3/31/16		6/30/17		6/30/16		9/30/17		9/30/16		12/31/17	12/31/16
Consolidated
Current accident year losses greater than $5 million		0.5	%	—	%	2.4	%	(0.6	)%	0.9	%	2.0	%	—	%	1.2	%	1.0	%	1.0	%	1.0	%		0.6	%
Current accident year losses $1 million - $5 million		6.4		4.1		2.5		5.6		4.1		3.1		3.8		3.3		3.5		4.3		3.6			4.1
Large loss prior accident year reserve development		0.3		1.8		1.5		(0.9	)	0.2		0.3		—		1.6		0.1		1.2		0.1			(0.1	)
Total large loss ratio		7.2	%	5.9	%	6.4	%	4.1	%	5.2	%	5.4	%	3.8	%	6.1	%	4.6	%	6.5	%	4.7	%		4.6	%
Losses incurred but not reported		(0.7	)	(0.1	)	0.4		5.7		(0.7	)	3.1		6.6		0.1		4.8		(0.2	)	3.0			3.7
Other losses excluding catastrophe losses		41.7		41.3		40.5		37.5		41.3		35.7		36.8		40.9		36.2		41.2		38.1			37.8
Catastrophe losses		8.8		9.4		9.0		6.9		4.7		14.6		3.0		9.3		8.9		9.1		7.4			7.3
Total loss ratio		57.0	%	56.5	%	56.3	%	54.2	%	50.5	%	58.8	%	50.2	%	56.4	%	54.5	%	56.6	%	53.2	%		53.4	%
Commercial Lines
Current accident year losses greater than $5 million		0.8	%	—	%	3.6	%	(0.9	)%	1.3	%	2.9	%	—	%	1.8	%	1.5	%	1.5	%	1.4	%		0.8	%
Current accident year losses $1 million - $5 million		7.2		4.2		3.3		7.7		4.4		4.2		4.8		3.7		4.5		4.8		4.4			5.3
Large loss prior accident year reserve development		0.1		2.3		2.2		(0.8	)	0.8		0.6		(0.2	)	2.3		0.2		1.6		0.4			0.1
Total large loss ratio		8.1	%	6.5	%	9.1	%	6.0	%	6.5	%	7.7	%	4.6	%	7.8	%	6.2	%	7.9	%	6.2	%		6.2	%
Losses incurred but not reported		—		2.7		(0.6	)	7.1		0.4		0.3		8.4		1.0		4.3		0.7		3.0			4.0
Other losses excluding catastrophe losses		39.6		36.5		39.2		34.4		36.7		31.6		33.6		37.9		32.6		38.4		34.1			34.2
Catastrophe losses		3.4		8.1		7.4		4.4		3.7		16.4		3.3		7.7		9.9		6.3		7.8			6.9
Total loss ratio		51.1	%	53.8	%	55.1	%	51.9	%	47.3	%	56.0	%	49.9	%	54.4	%	53.0	%	53.3	%	51.1	%		51.3	%
Personal Lines
Current accident year losses greater than $5 million		—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%		—	%
Current accident year losses $1 million - $5 million		6.0		4.8		1.0		1.2		3.5		—		1.9		2.9		1.0		4.0		1.8			1.7
Large loss prior accident year reserve development		1.0		0.6		(0.2	)	(1.2	)	(1.1	)	(0.7	)	0.5		0.2		(0.1	)	0.4		(0.4	)		(0.6	)
Total large loss ratio		7.0	%	5.4	%	0.8	%	—	%	2.4	%	(0.7	)%	2.4	%	3.1	%	0.9	%	4.4	%	1.4	%		1.1	%
Losses incurred but not reported		(5.3	)	(4.0	)	3.3		3.5		(3.2	)	8.1		3.8		(0.4	)	6.0		(2.1	)	2.9			3.0
Other losses excluding catastrophe losses		52.1		53.7		47.9		50.2		57.7		48.9		47.1		50.9		47.9		51.3		51.2			51.0
Catastrophe losses		10.8		15.2		15.5		13.3		8.2		12.2		2.9		15.3		7.6		13.8		7.8			9.2
Total loss ratio		64.6	%	70.3	%	67.5	%	67.0	%	65.1	%	68.5	%	56.2	%	68.9	%	62.4	%	67.4	%	63.3	%		64.3	%
Excess & Surplus Lines
Current accident year losses greater than $5 million		—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%		—	%
Current accident year losses $1 million - $5 million		—		—		—		(0.1	)	4.4		2.2		—		—		1.1		—		2.3			1.7
Large loss prior accident year reserve development		(0.3	)	2.3		(0.3	)	(0.1	)	(2.0	)	1.7		(0.4	)	1.1		0.7		0.6		(0.3	)		(0.3	)
Total large loss ratio		(0.3	)%	2.3	%	(0.3	)%	(0.2	)%	2.4	%	3.9	%	(0.4	)%	1.1	%	1.8	%	0.6	%	2.0	%		1.4	%
Losses incurred but not reported		13.8		(20.2	)	(1.6	)	(0.6	)	(2.9	)	20.3		(5.4	)	(11.3	)	7.8		(2.4	)	4.1			2.9
Other losses excluding catastrophe losses		15.3		37.0		17.0		12.6		21.8		12.7		20.8		27.4		16.6		23.1		18.4			16.8
Catastrophe losses		1.3		1.2		0.8		2.4		0.1		3.1		0.1		1.0		1.7		1.1		1.1			1.5
Total loss ratio		30.1	%	20.3	%	15.9	%	14.2	%	21.4	%	40.0	%	15.1	%	18.2	%	27.9	%	22.4	%	25.6	%		22.6	%
*Certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
Consolidated property casualty data includes results from our Cincinnati Re operations.



Consolidated Cincinnati Insurance Companies
Loss Claim Count Detail
	Three months ended								Six months ended		Nine months ended		Twelve months ended
	12/31/17	9/30/17	6/30/17	3/31/17	12/31/16	9/30/16	6/30/16	3/31/16	6/30/17	6/30/16	9/30/17	9/30/16	12/31/17	12/31/16
Consolidated
Current accident year reported losses greater than $5 million		1	—	5	—	1	3	—	5	3	6	4		3
Current accident year reported losses $1 million - $5 million		43	31	22	38	29	15	27	55	46	100	76		113
Prior accident year reported losses on large losses		12	15	14	8	2	17	10	30	27	42	26		36
Non-Catastrophe reported losses on large losses total		56	46	41	46	32	35	37	90	76	148	106		152
Commercial Lines
Current accident year reported losses greater than $5 million		1	—	5	—	1	3	—	5	3	6	4		3
Current accident year reported losses $1 million - $5 million		34	20	20	36	21	14	23	42	41	77	62		97
Prior accident year reported losses on large losses		10	12	13	8	1	15	8	26	23	35	23		33
Non-Catastrophe reported losses on large losses total		45	32	38	44	23	32	31	73	67	118	89		133
Personal Lines
Current accident year reported losses greater than $5 million		—	—	—	—	—	—	—	—	—	—	—		—
Current accident year reported losses $1 million - $5 million		9	11	2	2	6	—	4	13	4	23	11		13
Prior accident year reported losses on large losses		2	2	—	—	—	1	2	2	3	5	2		2
Non-Catastrophe reported losses on large losses total		11	13	2	2	6	1	6	15	7	28	13		15
Excess & Surplus Lines
Current accident year reported losses greater than $5 million		—	—	—	—	—	—	—	—	—	—	—		—
Current accident year reported losses $1 million - $5 million		—	—	—	—	2	1	—	—	1	—	3		3
Prior accident year reported losses on large losses		—	1	1	—	1	1	—	2	1	2	1		1
Non-Catastrophe reported losses on large losses total		—	1	1	—	3	2	—	2	2	2	4		4
*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, 2017
	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		2017		2016
																			Total		Total

OH	$	119.5	$	110.2	$	68.5	$	—	$	29.0	$	102.9	$	84.1	$	26.6	$	11.9	$	552.7	$	546.1	1.9		0.1		2.7		1.2
IL	51.3		44.2		25.1		36.3		10.1		22.4		22.0		6.0		11.6		229.0		232.0		(1.1	)	(5.5	)	18.6		(1.3	)
GA	34.4		36.6		25.0		11.5		9.7		40.3		37.5		9.1		12.1		216.2		198.4		6.8		9.8		25.0		8.9
IN	43.2		43.6		24.8		20.8		9.7		25.5		26.4		5.9		8.9		208.8		212.9		(1.8	)	(4.1	)	9.0		(2.0	)
NC	39.5		44.6		19.7		13.7		9.7		28.6		25.1		6.8		7.5		195.2		184.5		6.1		3.8		18.7		5.8
PA	50.2		37.3		31.3		32.5		8.4		10.8		8.9		3.4		8.0		190.8		189.8		(0.5	)	3.2		14.6		0.5
MI	35.6		31.7		19.5		11.7		8.6		45.1		27.2		4.5		5.3		189.2		187.7		(1.3	)	4.4		(7.1	)	0.8
TN	32.9		35.3		18.5		8.3		8.3		15.4		18.8		4.6		4.6		146.7		142.1		3.7		1.0		12.0		3.2
KY	21.4		28.8		16.9		2.8		5.1		23.8		22.1		5.1		4.5		130.5		125.9		3.7		3.7		7.4		3.8
AL	21.3		26.0		10.8		0.7		5.7		19.6		27.2		5.6		6.8		123.7		116.5		6.5		5.3		11.4		6.3
VA	26.6		24.1		18.5		13.5		7.5		10.5		8.9		3.0		3.9		116.5		115.1		0.4		4.0		8.0		1.3
TX	38.7		22.0		25.4		1.1		4.0		0.7		1.2		0.5		15.5		109.1		105.5		(0.8	)	nm		13.2		3.2
MO	25.6		27.9		13.7		11.1		4.3		7.7		9.6		2.1		6.7		108.7		101.4		3.9		22.8		11.7		7.3
MN	22.3		18.8		8.8		6.9		3.9		15.9		16.0		4.3		6.0		102.9		106.4		(9.2	)	4.8		19.3		(3.3	)
WI	23.4		20.7		11.5		20.6		4.6		7.5		7.5		2.9		3.5		102.2		105.7		(4.7	)	0.5		11.1		(3.4	)
NY	29.3		15.2		10.5		3.5		3.5		8.9		11.9		4.3		2.6		89.7		72.1		9.8		83.8		36.1		24.5
MD	16.5		10.6		13.2		8.5		3.1		10.4		8.1		2.2		2.1		74.7		71.4		(2.3	)	26.7		11.9		4.7
AR	9.3		17.8		10.4		1.8		3.0		8.8		9.2		2.3		3.0		65.6		61.8		4.0		7.6		29.2		6.0
FL	24.9		12.0		9.5		1.2		2.6		3.7		1.9		0.7		8.6		65.1		54.8		15.1		20.3		43.0		18.6
IA	13.4		15.9		6.5		11.6		4.7		4.0		4.4		1.2		1.5		63.2		61.1		4.7		(0.5	)	(4.6	)	3.6
AZ	15.7		9.0		11.6		4.6		2.3		5.8		4.6		1.8		2.5		57.9		52.1		8.3		23.0		5.3		11.0
SC	11.3		10.3		7.3		2.6		2.6		9.8		7.5		1.6		3.4		56.4		51.7		3.9		15.7		34.9		9.1
UT	15.7		8.0		10.1		0.7		2.4		7.1		3.9		1.0		3.0		51.9		49.9		2.6		5.4		16.3		4.0
CO	15.8		8.7		11.2		0.9		1.9		0.4		0.9		0.2		6.2		46.2		39.2		15.6		325.3		12.3		17.9
KS	9.5		12.5		5.7		4.5		2.3		3.5		5.4		1.0		1.5		45.9		44.1		5.8		(0.4	)	3.3		4.3
OR	12.2		7.2		9.0		0.1		1.8		4.4		1.9		0.6		4.4		41.6		35.6		14.4		32.7		9.6		16.6
MT	14.8		9.8		8.4		0.1		1.6		2.2		2.3		0.5		1.2		40.9		39.0		4.6		2.0		53.3		5.2
ID	10.6		7.4		6.3		0.4		1.5		3.0		2.0		0.6		1.4		33.2		32.4		2.4		3.9		10.4		3.0
NE	7.8		9.0		5.0		6.1		1.9		0.7		0.9		0.2		1.8		33.4		33.8		(2.8	)	4.8		17.5		(1.5	)
CT	3.9		3.6		2.0		1.9		0.6		6.8		5.8		2.1		1.2		27.9		19.0		8.2		115.3		10.6		46.9
WV	6.9		7.3		5.9		0.9		1.0		—		0.3		0.1		2.3		24.7		24.1		3.4		(13.8	)	(1.0	)	2.6
WA	7.9		4.5		5.5		—		1.2		—		—		—		1.8		20.9		17.5		19.8		nm		13.9		20.0
VT	3.8		4.7		2.6		4.3		1.4		1.3		1.4		0.4		1.1		21.0		19.8		4.8		7.6		30.2		6.3
NM	7.1		4.3		5.5		0.5		1.2		—		—		—		1.2		19.8		17.5		10.9		(34.1	)	75.6		13.5
CA	0.6		0.3		0.7		1.2		0.2		2.6		7.4		1.9		0.5		15.4		3.9		(7.7	)	nm		232.2		296.7
ND	5.3		3.6		3.0		—		0.7		0.6		0.7		0.2		0.6		14.7		15.5		(8.4	)	0.9		134.6		(5.3	)
NH	3.3		2.8		1.6		2.0		0.7		1.4		1.5		0.4		0.8		14.5		13.9		2.7		(0.2	)	54.1		4.0
DE	4.0		2.4		2.4		1.6		0.8		—		—		—		0.5		11.7		12.8		(9.4	)	2.4		3.4		(8.9	)
SD	2.4		3.0		1.8		1.7		0.9		—		—		—		0.6		10.4		10.1		2.4		2.6		12.2		2.9
WY	2.0		1.9		1.1		—		0.3		—		—		—		0.6		5.9		5.7		5.2		3.4		4.5		5.1
NJ	0.6		0.3		0.4		1.4		0.3		0.7		1.2		0.6		0.2		5.7		3.9		0.4		232.2		9.7		44.3
All Other	2.6		1.9		2.2		2.4		1.5		0.1		0.2		—		1.9		12.8		10.7		15.2		139.5		25.6		17.7
Total	$	843.1	$	745.8	$	497.4	$	256.0	$	174.6	$	462.9	$	425.9	$	114.3	$	173.3	$	3,693.3	$	3,543.4	3.3		7.4		18.7		5.0
Other Direct	—		2.0		2.8		5.0		—		8.1		0.1		0.3		—		18.3		17.9		0.1		63.2		—		2.3
Total Direct	$	843.1	$	747.8	$	500.2	$	261.0	$	174.6	$	471.0	$	426.0	$	114.6	$	173.3	$	3,711.6	$	3,561.3	2.3		7.5		15.1		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
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Commercial casualty:
Written premiums		$	257		$	280		$	297		$	239		$	259		$	278		$	285		$	577		$	563		$	834		$	822			$	1,061
Year over year change %- written premium		(1		)%	1		%	4		%	—		%	5		%	1		%	7		%	2		%	4		%	1		%	4		%		4		%
Earned premiums		$	268		$	271		$	265		$	265		$	265		$	263		$	257		$	536		$	520		$	804		$	785			$	1,050
Current accident year before catastrophe losses		63.1		%	60.1		%	60.7		%	61.1		%	57.4		%	58.7		%	60.2		%	60.4		%	59.5		%	61.3		%	58.8		%		59.4		%
Current accident year catastrophe losses		—			—			—			—			—			—			—			—			—			—			—				—
Prior accident years before catastrophe losses		0.1			(2.5		)	5.6			3.7			(2.6		)	(7.5		)	(1.2		)	1.5			(4.4		)	1.0			(3.8		)		(1.9		)
Prior accident years catastrophe losses		—			—			—			—			—			—			—			—			—			—			—				—
Total loss and loss expense ratio		63.2		%	57.6		%	66.3		%	64.8		%	54.8		%	51.2		%	59.0		%	61.9		%	55.1		%	62.3		%	55.0		%		57.5		%
Commercial property:
Written premiums		$	230		$	233		$	239		$	208		$	224		$	223		$	225		$	472		$	448		$	702		$	672			$	880
Year over year change %- written premium		3		%	4		%	6		%	2		%	3		%	2		%	9		%	5		%	6		%	4		%	5		%		4		%
Earned premiums		$	225		$	226		$	223		$	221		$	217		$	215		$	214		$	449		$	429		$	674		$	646			$	867
Current accident year before catastrophe losses		48.6		%	49.7		%	50.2		%	51.3		%	47.7		%	36.3		%	51.4		%	50.0		%	43.8		%	49.4		%	45.2		%		46.6		%
Current accident year catastrophe losses		14.5			29.1			29.3			17.4			11.5			57.6			13.6			29.2			35.7			24.3			27.5				25.0
Prior accident years before catastrophe losses		(1.1		)	(1.2		)	(0.7		)	(0.6		)	(2.7		)	(5.4		)	(1.7		)	(1.0		)	(3.6		)	(1.0		)	(3.3		)		(2.6		)
Prior accident years catastrophe losses		(1.9		)	(0.8		)	(3.8		)	(1.3		)	1.6			(1.0		)	(2.2		)	(2.3		)	(1.6		)	(2.1		)	(0.5		)		(0.7		)
Total loss and loss expense ratio		60.1		%	76.8		%	75.0		%	66.8		%	58.1		%	87.5		%	61.1		%	75.9		%	74.3		%	70.6		%	68.9		%		68.3		%
Commercial auto:
Written premiums		$	157		$	167		$	174		$	146		$	151		$	156		$	158		$	341		$	314		$	498		$	465			$	611
Year over year change %- written premium		4		%	7		%	10		%	4		%	10		%	5		%	6		%	9		%	5		%	7		%	7		%		6		%
Earned premiums		$	159		$	158		$	155		$	152		$	151		$	147		$	144		$	313		$	291		$	472		$	442			$	594
Current accident year before catastrophe losses		80.2		%	76.4		%	80.7		%	76.6		%	76.9		%	76.3		%	77.5		%	78.6		%	76.9		%	79.1		%	76.9		%		76.8		%
Current accident year catastrophe losses		0.7			1.7			1.2			—			0.8			2.2			0.6			1.4			1.4			1.2			1.2				0.9
Prior accident years before catastrophe losses		5.1			6.0			6.7			3.7			2.8			9.1			5.7			6.3			7.4			5.9			5.9				5.3
Prior accident years catastrophe losses		—			—			(0.2		)	—			—			—			(0.1		)	(0.1		)	(0.1		)	(0.1		)	(0.1		)		—
Total loss and loss expense ratio		86.0		%	84.1		%	88.4		%	80.3		%	80.5		%	87.6		%	83.7		%	86.2		%	85.6		%	86.1		%	83.9		%		83.0		%
Workers' compensation:
Written premiums		$	75		$	79		$	99		$	78		$	83		$	86		$	105		$	178		$	191		$	253		$	274			$	352
Year over year change %- written premium		(10		)%	(8		)%	(6		)%	(4		)%	—		%	(3		)%	1		%	(7		)%	(1		)%	(8		)%	(1		)%		(1		)%
Earned premiums		$	84		$	86		$	84		$	86		$	90		$	89		$	89		$	170		$	178		$	254		$	268			$	354
Current accident year before catastrophe losses		71.6		%	68.9		%	69.8		%	68.4		%	72.5		%	70.9		%	73.3		%	69.3		%	72.2		%	70.1		%	72.2		%		71.3		%
Current accident year catastrophe losses		—			—			—			—			—			—			—			—			—			—			—				—
Prior accident years before catastrophe losses		(16.6		)	(14.3		)	(21.6		)	(19.4		)	(18.1		)	(25.5		)	(14.5		)	(17.9		)	(20.1		)	(17.5		)	(19.4		)		(19.4		)
Prior accident years catastrophe losses		—			—			—			—			—			—			—			—			—			—			—				—
Total loss and loss expense ratio		55.0		%	54.6		%	48.2		%	49.0		%	54.4		%	45.4		%	58.8		%	51.4		%	52.1		%	52.6		%	52.8		%		51.9		%
Other commercial:
Written premiums		$	59		$	54		$	56		$	50		$	60		$	54		$	54		$	110		$	108		$	169		$	168			$	218
Year over year change %- written premium		(2		)%	—		%	4		%	—		%	—		%	(2		)%	(7		)%	2		%	(4		)%	1		%	(3		)%		(2		)%
Earned premiums		$	56		$	55		$	54		$	55		$	56		$	57		$	56		$	109		$	113		$	165		$	169			$	224
Current accident year before catastrophe losses		25.5		%	35.3		%	40.2		%	41.8		%	41.5		%	37.8		%	46.3		%	37.7		%	42.1		%	33.6		%	41.9		%		41.9		%
Current accident year catastrophe losses		—			1.8			1.9			2.1			1.6			3.8			0.6			1.8			2.2			1.2			2.0				2.0
Prior accident years before catastrophe losses		0.6			(20.0		)	(14.8		)	(8.6		)	(19.1		)	(28.2		)	(22.9		)	(17.4		)	(25.5		)	(11.3		)	(23.4		)		(19.8		)
Prior accident years catastrophe losses		0.3			0.1			(0.5		)	—			0.2			1.3			0.2			(0.2		)	0.7			—			0.5				0.4
Total loss and loss expense ratio		26.4		%	17.2		%	26.8		%	35.3		%	24.2		%	14.7		%	24.2		%	21.9		%	19.5		%	23.5		%	21.0		%		24.5		%
*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.



Quarterly Property Casualty Data - Personal Lines

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Personal auto:
Written premiums		$	165		$	165		$	132		$	132		$	154		$	154		$	123		$	297		$	277		$	462		$	431			$	563
Year over year change %- written premium		7		%	7		%	7		%	7		%	7		%	8		%	8		%	7		%	8		%	7		%	8		%		7		%
Earned premiums		$	148		$	144		$	141		$	140		$	137		$	135		$	131		$	285		$	266		$	433		$	403			$	543
Current accident year before catastrophe losses		79.8		%	78.1		%	82.4		%	79.0		%	79.6		%	79.5		%	79.1		%	80.2		%	79.3		%	80.1		%	79.4		%		79.3		%
Current accident year catastrophe losses		1.6			2.4			2.4			0.1			1.1			1.9			1.0			2.4			1.4			2.1			1.3				1.0
Prior accident years before catastrophe losses		1.1			(0.3		)	(1.1		)	2.2			6.8			10.6			(6.3		)	(0.7		)	2.3			(0.1		)	3.8				3.4
Prior accident years catastrophe losses		(0.1		)	(0.1		)	(0.2		)	(0.1		)	(0.2		)	(0.1		)	(0.3		)	(0.1		)	(0.2		)	(0.1		)	(0.2		)		(0.2		)
Total loss and loss expense ratio		82.4		%	80.1		%	83.5		%	81.2		%	87.3		%	91.9		%	73.5		%	81.8		%	82.8		%	82.0		%	84.3		%		83.5		%
Homeowner:
Written premiums		$	150		$	150		$	110		$	119		$	138		$	140		$	103		$	260		$	243		$	410		$	381			$	500
Year over year change %- written premium		9		%	7		%	7		%	6		%	5		%	6		%	5		%	7		%	6		%	8		%	5		%		5		%
Earned premiums		$	131		$	128		$	125		$	124		$	122		$	121		$	119		$	253		$	240		$	384		$	362			$	486
Current accident year before catastrophe losses		46.7		%	48.4		%	48.4		%	47.0		%	46.8		%	49.1		%	51.5		%	48.5		%	50.3		%	47.8		%	49.1		%		48.6		%
Current accident year catastrophe losses		24.5			34.1			33.1			31.7			19.5			25.4			6.4			33.6			16.0			30.5			17.1				20.9
Prior accident years before catastrophe losses		(0.2		)	(1.9		)	(2.6		)	1.1			0.5			(0.8		)	(5.2		)	(2.3		)	(3.0		)	(1.5		)	(1.8		)		(1.1		)
Prior accident years catastrophe losses		(1.4		)	(0.5		)	(0.5		)	(0.7		)	(0.9		)	0.8			(1.6		)	(0.5		)	(0.4		)	(0.8		)	(0.5		)		(0.6		)
Total loss and loss expense ratio		69.6		%	80.1		%	78.4		%	79.1		%	65.9		%	74.5		%	51.1		%	79.3		%	62.9		%	76.0		%	63.9		%		67.8		%
Other personal:
Written premiums		$	40		$	42		$	31		$	32		$	37		$	36		$	30		$	73		$	66		$	113		$	103			$	135
Year over year change %- written premium		8		%	12		%	3		%	3		%	3		%	3		%	3		%	11		%	3		%	10		%	3		%		4		%
Earned premiums		$	35		$	35		$	34		$	32		$	34		$	32		$	33		$	69		$	65		$	104		$	99			$	132
Current accident year before catastrophe losses		46.7		%	68.3		%	45.6		%	48.2		%	60.2		%	42.0		%	44.2		%	57.1		%	43.1		%	53.5		%	48.9		%		48.7		%
Current accident year catastrophe losses		6.2			4.5			9.3			5.5			2.6			4.7			5.8			6.9			5.2			6.7			4.4				4.7
Prior accident years before catastrophe losses		2.4			(0.1		)	(11.2		)	(9.4		)	(11.5		)	(13.5		)	(4.6		)	(5.6		)	(9.0		)	(2.9		)	(9.9		)		(9.8		)
Prior accident years catastrophe losses		—			(0.9		)	(0.7		)	(0.4		)	(0.4		)	—			0.3			(0.8		)	0.1			(0.5		)	(0.1		)		(0.2		)
Total loss and loss expense ratio		55.3		%	71.8		%	43.0		%	43.9		%	50.9		%	33.2		%	45.7		%	57.6		%	57.2		%	56.8		%	43.3		%		43.4		%

Quarterly Property Casualty Data - Excess & Surplus Lines

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Excess & Surplus:
Written premiums		$	51		$	61		$	53		$	45		$	48		$	51		$	45		$	114		$	96		$	165		$	144			$	189
Year over year change %- written premium		6		%	20		%	18		%	2		%	12		%	11		%	7		%	19		%	9		%	15		%	10		%		9		%
Earned premiums		$	53		$	52		$	48		$	47		$	48		$	45		$	43		$	100		$	88		$	153		$	136			$	183
Current accident year before catastrophe losses		49.1		%	54.2		%	55.5		%	41.4		%	57.2		%	56.7		%	63.1		%	54.8		%	59.8		%	52.8		%	58.9		%		54.4		%
Current accident year catastrophe losses		1.7			0.9			1.2			2.6			0.2			3.2			0.3			1.1			1.9			1.3			1.3				1.6
Prior accident years before catastrophe losses		(4.7		)	(17.0		)	(27.4		)	(14.7		)	(25.5		)	(1.9		)	(31.5		)	(22.0		)	(16.4		)	(15.9		)	(19.6		)		(18.3		)
Prior accident years catastrophe losses		(0.3		)	0.4			(0.4		)	—			—			—			(0.2		)	—			(0.1		)	(0.1		)	(0.1		)		(0.1		)
Total loss and loss expense ratio		45.8		%	38.5		%	28.9		%	29.3		%	31.9		%	58.0		%	31.7		%	33.9		%	45.2		%	38.1		%	40.5		%		37.6		%
*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.



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, 2017
Commercial casualty	$	280		$	124	$	404		$	28		$	33		$	32		$	93		$	308		$	33		$	156		$	497
Commercial property	433			39		472			17			(18		)	3			2			450			(18		)	42			474
Commercial auto	278			52		330			24			36			17			77			302			36			69			407
Workers' compensation	123			26		149			17			(27		)	—			(10		)	140			(27		)	26			139
Other commercial	34			14		48			—			(4		)	(14		)	(18		)	34			(4		)	—			30
Total commercial lines	1,148			255		1,403			86			20			38			144			1,234			20			293			1,547

Personal auto	274			52		326			9			19			2			30			283			19			54			356
Homeowners	279			25		304			10			(25		)	3			(12		)	289			(25		)	28			292
Other personal	46			4		50			14			(5		)	—			9			60			(5		)	4			59
Total personal lines	599			81		680			33			(11		)	5			27			632			(11		)	86			707

Excess & surplus lines	36			18		55			12			(4		)	7			15			48			(4		)	25			69
Cincinnati Re	11			2		13			8			70			1			79			19			70			3			92
Total property casualty	$	1,794		$	356	$	2,151		$	139		$	75		$	51		$	265		$	1,933		$	75		$	407		$	2,415

Ceded loss and loss expense incurred for the nine months ended September 30, 2017
Commercial casualty	$	—		$	—	$	—		$	(4	)	$	—		$	—		$	(4	)	$	(4	)	$	—		$	—		$	(4	)
Commercial property	13			—		13			(16		)	—			—			(16		)	(3		)	—			—			(3		)
Commercial auto	1			—		1			—			—			—			—			1			—			—			1
Workers' compensation	13			1		14			(6		)	(1		)	(1		)	(8		)	7			(1		)	—			6
Other commercial	(6		)	1		(5		)	(3		)	—			—			(3		)	(9		)	—			1			(8		)
Total commercial lines	21			2		23			(29		)	(1		)	(1		)	(31		)	(8		)	(1		)	1			(8		)

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

Excess & surplus lines	7			1		8			3			—			—			3			10			—			1			11
Cincinnati Re	3			1		4			3			6			1			10			6			6			2			14
Total property casualty	$	33		$	4	$	37		$	(24	)	$	5		$	—		$	(19	)	$	9		$	5		$	4		$	18

Net loss and loss expense incurred for the nine months ended September 30, 2017
Commercial casualty	$	280		$	124	$	404		$	32		$	33		$	32		$	97		$	312		$	33		$	156		$	501
Commercial property	420			39		459			33			(18		)	3			18			453			(18		)	42			477
Commercial auto	277			52		329			24			36			17			77			301			36			69			406
Workers' compensation	110			25		135			23			(26		)	1			(2		)	133			(26		)	26			133
Other commercial	40			13		53			3			(4		)	(14		)	(15		)	43			(4		)	(1		)	38
Total commercial lines	1,127			253		1,380			115			21			39			175			1,242			21			292			1,555

Personal auto	272			52		324			9			19			2			30			281			19			54			354
Homeowners	279			25		304			11			(25		)	3			(11		)	290			(25		)	28			293
Other personal	46			4		50			14			(5		)	—			9			60			(5		)	4			59
Total personal lines	597			81		678			34			(11		)	5			28			631			(11		)	86			706

Excess & surplus lines	29			17		47			9			(4		)	7			12			38			(4		)	24			58
Cincinnati Re	8			1		9			5			64			—			69			13			64			1			78
Total property casualty	$	1,761		$	352	$	2,114		$	163		$	70		$	51		$	284		$	1,924		$	70		$	403		$	2,397



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, 2017
Commercial casualty	$	103	$	42	$	145	$	(2	)	$	17		$	9		$	24		$	101		$	17		$	51		$	169
Commercial property	137		13		150		(2		)	(20		)	3			(19		)	135			(20		)	16			131
Commercial auto	92		18		110		5			16			7			28			97			16			25			138
Workers' compensation	38		8		46		16			(15		)	2			3			54			(15		)	10			49
Other commercial	14		3		17		5			(2		)	(8		)	(5		)	19			(2		)	(5		)	12
Total commercial lines	384		84		468		22			(4		)	13			31			406			(4		)	97			499

Personal auto	94		17		111		3			6			3			12			97			6			20			123
Homeowners	108		8		116		(2		)	(23		)	1			(24		)	106			(23		)	9			92
Other personal	17		2		19		3			(3		)	—			—			20			(3		)	2			19
Total personal lines	219		27		246		4			(20		)	4			(12		)	223			(20		)	31			234

Excess & surplus lines	9		6		16		5			6			2			13			14			6			8			28
Cincinnati Re	5		1		6		3			52			—			55			8			52			1			61
Total property casualty	$	617	$	118	$	736	$	34		$	34		$	19		$	87		$	651		$	34		$	137		$	822

Ceded loss and loss expense incurred for the three months ended September 30, 2017
Commercial casualty	$	—	$	—	$	—	$	(1	)	$	—		$	—		$	(1	)	$	(1	)	$	—		$	—		$	(1	)
Commercial property	5		—		5		(8		)	—			—			(8		)	(3		)	—			—			(3		)
Commercial auto	—		—		—		—			—			—			—			—			—			—			—
Workers' compensation	3		1		4		—			—			—			—			3			—			1			4
Other commercial	—		—		—		(2		)	—			—			(2		)	(2		)	—			—			(2		)
Total commercial lines	8		1		9		(11		)	—			—			(11		)	(3		)	—			1			(2		)

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

Excess & surplus lines	—		—		—		4			—			—			4			4			—			—			4
Cincinnati Re	1		—		1		1			2			—			3			2			2			—			4
Total property casualty	$	10	$	1	$	11	$	(6	)	$	2		$	—		$	(4	)	$	4		$	2		$	1		$	7

Net loss and loss expense incurred for the three months ended September 30, 2017
Commercial casualty	$	103	$	42	$	145	$	(1	)	$	17		$	9		$	25		$	102		$	17		$	51		$	170
Commercial property	132		13		145		6			(20		)	3			(11		)	138			(20		)	16			134
Commercial auto	92		18		110		5			16			7			28			97			16			25			138
Workers' compensation	35		7		42		16			(15		)	2			3			51			(15		)	9			45
Other commercial	14		3		17		7			(2		)	(8		)	(3		)	21			(2		)	(5		)	14
Total commercial lines	376		83		459		33			(4		)	13			42			409			(4		)	96			501

Personal auto	93		17		110		3			6			3			12			96			6			20			122
Homeowners	108		8		116		(2		)	(23		)	1			(24		)	106			(23		)	9			92
Other personal	17		2		19		3			(3		)	—			—			20			(3		)	2			19
Total personal lines	218		27		245		4			(20		)	4			(12		)	222			(20		)	31			233

Excess & surplus lines	9		6		16		1			6			2			9			10			6			8			24
Cincinnati Re	4		1		5		2			50			—			52			6			50			1			57
Total property casualty	$	607	$	117	$	725	$	40		$	32		$	19		$	91		$	647		$	32		$	136		$	815



Consolidated Cincinnati Insurance Companies
Quarterly Property Casualty Data

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Premiums
Agency renewal written premiums		$	1,064		$	1,090		$	1,057		$	951		$	1,036		$	1,057		$	1,028		$	2,147		$	2,085		$	3,211		$	3,121			$	4,072
Agency new business written premiums		157			165			153			134			149			143			125			318			268			475			417				551
Cincinnati Re net written premiums		24			40			40			15			21			16			19			80			35			104			56				71
Other written premiums		(37		)	(24		)	(19		)	(36		)	(31		)	(22		)	(25		)	(43		)	(47		)	(80		)	(78		)		(114		)
Net written premiums – statutory*		$	1,208		$	1,271		$	1,231		$	1,064		$	1,175		$	1,194		$	1,147		$	2,502		$	2,341		$	3,710		$	3,516			$	4,580
Unearned premium change		(17		)	(90		)	(80		)	75			(42		)	(80		)	(51		)	(170		)	(131		)	(187		)	(173		)		(98		)
Earned premiums		$	1,191		$	1,181		$	1,151		$	1,139		$	1,133		$	1,114		$	1,096		$	2,332		$	2,210		$	3,523		$	3,343			$	4,482
Year over year change %
Agency renewal written premiums		3		%	3		%	3		%	3		%	4		%	4		%	5		%	3		%	4		%	3		%	4		%		4		%
Agency new business written premiums		5			15			22			(4		)	8			4			8			19			6			14			6				4
Cincinnati Re net written premiums		14			150			111			(55		)	nm			nm			—			129			nm			86			nm				115
Other written premiums		(19		)	(9		)	24			16			21			(57		)	24			9			—			(3		)	9				12
Net written premiums – statutory*		3			6			7			1			7			5			8			7			6			6			6				5
Paid losses and loss expenses
Losses paid		$	607		$	587		$	567		$	540		$	553		$	522		$	457		$	1,154		$	979		$	1,761		$	1,532			$	2,072
Loss expenses paid		118			108			127			110			109			107			105			235			212			353			321				431
Loss and loss expenses paid		$	725		$	695		$	694		$	650		$	662		$	629		$	562		$	1,389		$	1,191		$	2,114		$	1,853			$	2,503
Incurred losses and loss expenses
Loss and loss expense incurred		$	815		$	794		$	788		$	751		$	690		$	759		$	661		$	1,582		$	1,420		$	2,397		$	2,110			$	2,861
Loss and loss expenses paid as a % of incurred		89.0		%	87.5		%	88.1		%	86.6		%	95.9		%	82.9		%	85.0		%	87.8		%	83.9		%	88.2		%	87.8		%		87.5		%
Statutory combined ratio
Loss ratio		57.0		%	56.5		%	56.3		%	54.2		%	50.5		%	58.8		%	50.2		%	56.4		%	54.5		%	56.6		%	53.2		%		53.4		%
Loss adjustment expense ratio		11.4			10.8			12.1			11.7			10.5			9.4			10.1			11.4			9.7			11.4			9.9				10.4
Net underwriting expense ratio		30.7			29.9			30.2			32.0			30.9			29.7			29.9			30.1			29.9			30.3			30.3				30.7
Statutory combined ratio		99.1		%	97.2		%	98.6		%	97.9		%	91.9		%	97.9		%	90.2		%	97.9		%	94.1		%	98.3		%	93.4		%		94.5		%
Contribution from catastrophe losses		9.1			9.8			9.2			7.1			4.9			14.8			3.1			9.5			9.0			9.3			7.6				7.5
Statutory combined ratio excl. catastrophe losses		90.0		%	87.4		%	89.4		%	90.8		%	87.0		%	83.1		%	87.1		%	88.4		%	85.1		%	89.0		%	85.8		%		87.0		%
GAAP combined ratio
GAAP combined ratio		99.3		%	98.3		%	99.7		%	96.2		%	92.4		%	99.3		%	91.4		%	99.0		%	95.4		%	99.1		%	94.4		%		94.8		%
Contribution from catastrophe losses		9.1			9.8			9.2			7.1			4.9			14.8			3.1			9.5			9.0			9.3			7.6				7.5
GAAP combined ratio excl. catastrophe losses		90.2		%	88.5		%	90.5		%	89.1		%	87.5		%	84.5		%	88.3		%	89.5		%	86.4		%	89.8		%	86.8		%		87.3		%
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
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Premiums
Agency renewal written premiums		$	707		$	729		$	772		$	658		$	698		$	718		$	758		$	1,501		$	1,476		$	2,208		$	2,174			$	2,832
Agency new business written premiums		99			99			103			91			101			93			87			202			180			301			281				372
Other written premiums		(28		)	(15		)	(10		)	(28		)	(22		)	(14		)	(18		)	(25		)	(32		)	(53		)	(54		)		(82		)
Net written premiums – statutory*		$	778		$	813		$	865		$	721		$	777		$	797		$	827		$	1,678		$	1,624		$	2,456		$	2,401			$	3,122
Unearned premium change		14			(17		)	(84		)	58			2			(26		)	(67		)	(101		)	(93		)	(87		)	(91		)		(33		)
Earned premiums		$	792		$	796		$	781		$	779		$	779		$	771		$	760		$	1,577		$	1,531		$	2,369		$	2,310			$	3,089
Year over year change %
Agency renewal written premiums		1		%	2		%	2		%	1		%	3		%	3		%	4		%	2		%	3		%	2		%	3		%		3		%
Agency new business written premiums		(2		)	6			18			(6		)	5			—			10			12			5			7			5				2
Other written premiums		(27		)	(7		)	44			18			29			(180		)	31			22			(3		)	2			13				15
Net written premiums – statutory*		—			2			5			1			5			1			6			3			3			2			4				3
Paid losses and loss expenses
Losses paid		$	376		$	370		$	381		$	344		$	373		$	342		$	300		$	751		$	642		$	1,127		$	1,015			$	1,359
Loss expenses paid		84			79			91			81			80			78			76			170			154			254			234				316
Loss and loss expenses paid		$	460		$	449		$	472		$	425		$	453		$	420		$	376		$	921		$	796		$	1,381		$	1,249			$	1,675
Incurred losses and loss expenses
Loss and loss expense incurred		$	501		$	519		$	535		$	503		$	456		$	500		$	469		$	1,054		$	969		$	1,555		$	1,425			$	1,928
Loss and loss expenses paid as a % of incurred		91.8		%	86.5		%	88.2		%	84.5		%	99.3		%	84.0		%	80.2		%	87.4		%	82.1		%	88.8		%	87.6		%		86.9		%
Statutory combined ratio
Loss ratio		51.1		%	53.8		%	55.0		%	51.9		%	47.3		%	56.0		%	49.9		%	54.5		%	53.0		%	53.4		%	51.1		%		51.3		%
Loss adjustment expense ratio		12.2			11.4			13.5			12.7			11.2			8.9			11.8			12.4			10.3			12.3			10.6				11.1
Net underwriting expense ratio		32.5			31.2			29.7			33.0			32.6			30.9			29.7			30.4			30.3			31.0			31.0				31.5
Statutory combined ratio		95.8		%	96.4		%	98.2		%	97.6		%	91.1		%	95.8		%	91.4		%	97.3		%	93.6		%	96.7		%	92.7		%		93.9		%
Contribution from catastrophe losses		3.8			8.5			7.6			4.7			3.9			16.6			3.4			8.1			10.0			6.6			8.0				7.1
Statutory combined ratio excl. catastrophe losses		92.0		%	87.9		%	90.6		%	92.9		%	87.2		%	79.2		%	88.0		%	89.2		%	83.6		%	90.1		%	84.7		%		86.8		%
GAAP combined ratio
GAAP combined ratio		95.2		%	97.1		%	100.4		%	95.7		%	90.8		%	96.8		%	93.6		%	98.8		%	95.2		%	97.6		%	93.7		%		94.2		%
Contribution from catastrophe losses		3.8			8.5			7.6			4.7			3.9			16.6			3.4			8.1			10.0			6.6			8.0				7.1
GAAP combined ratio excl. catastrophe losses		91.4		%	88.6		%	92.8		%	91.0		%	86.9		%	80.2		%	90.2		%	90.7		%	85.2		%	91.0		%	85.7		%		87.1		%
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 - Personal Lines

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Premiums
Agency renewal written premiums		$	318		$	318		$	245		$	258		$	303		$	302		$	236		$	563		$	538		$	881		$	841			$	1,099
Agency new business written premiums		43			45			34			31			32			34			25			79			59			122			91				122
Other written premiums		(6		)	(6		)	(6		)	(6		)	(6		)	(6		)	(5		)	(12		)	(11		)	(18		)	(17		)		(23		)
Net written premiums – statutory*		$	355		$	357		$	273		$	283		$	329		$	330		$	256		$	630		$	586		$	985		$	915			$	1,198
Unearned premium change		(41		)	(50		)	27			14			(36		)	(42		)	27			(23		)	(15		)	(64		)	(51		)		(37		)
Earned premiums		$	314		$	307		$	300		$	297		$	293		$	288		$	283		$	607		$	571		$	921		$	864			$	1,161
Year over year change %
Agency renewal written premiums		5		%	5		%	4		%	5		%	5		%	6		%	6		%	5		%	6		%	5		%	6		%		6		%
Agency new business written premiums		34			32			36			15			7			13			4			34			9			34			8				10
Other written premiums		—			—			(20		)	—			—			—			17			(9		)	8			(6		)	6				4
Net written premiums – statutory*		8			8			7			6			5			7			6			8			7			8			6				6
Paid losses and loss expenses
Losses paid		$	218		$	205		$	174		$	186		$	173		$	168		$	151		$	379		$	319		$	597		$	492			$	678
Loss expenses paid		27			24			30			23			24			23			24			54			47			81			71				93
Loss and loss expenses paid		$	245		$	229		$	204		$	209		$	197		$	191		$	175		$	433		$	366		$	678		$	563			$	771
Incurred losses and loss expenses
Loss and loss expense incurred		$	233		$	242		$	231		$	226		$	217		$	224		$	173		$	473		$	397		$	706		$	614			$	840
Loss and loss expenses paid as a % of incurred		105.2		%	94.6		%	88.3		%	92.5		%	90.8		%	85.3		%	101.2		%	91.5		%	92.2		%	96.0		%	91.7		%		91.8		%
Statutory combined ratio
Loss ratio		64.5		%	70.3		%	67.5		%	67.0		%	65.1		%	68.5		%	56.2		%	68.9		%	62.4		%	67.4		%	63.3		%		64.3		%
Loss adjustment expense ratio		9.5			8.8			9.3			9.1			9.1			9.5			4.7			9.1			7.1			9.2			7.8				8.1
Net underwriting expense ratio		26.9			26.7			31.2			29.2			27.1			27.2			31.1			28.6			28.9			28.0			28.2				28.4
Statutory combined ratio		100.9		%	105.8		%	108.0		%	105.3		%	101.3		%	105.2		%	92.0		%	106.6		%	98.4		%	104.6		%	99.3		%		100.8		%
Contribution from catastrophe losses		11.1			15.4			15.6			13.6			8.4			12.4			3.0			15.5			7.7			14.0			8.0				9.4
Statutory combined ratio excl. catastrophe losses		89.8		%	90.4		%	92.4		%	91.7		%	92.9		%	92.8		%	89.0		%	91.1		%	90.7		%	90.6		%	91.3		%		91.4		%
GAAP combined ratio
GAAP combined ratio		103.1		%	108.4		%	105.5		%	104.4		%	103.4		%	107.5		%	90.1		%	107.0		%	98.9		%	105.6		%	100.4		%		101.4		%
Contribution from catastrophe losses		11.1			15.4			15.6			13.6			8.4			12.4			3.0			15.5			7.7			14.0			8.0				9.4
GAAP combined ratio excl. catastrophe losses		92.0		%	93.0		%	89.9		%	90.8		%	95.0		%	95.1		%	87.1		%	91.5		%	91.2		%	91.6		%	92.4		%		92.0		%
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
	12/31/17	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			6/30/17			6/30/16			9/30/17			9/30/16			12/31/17	12/31/16
Premiums
Agency renewal written premiums		$	39		$	43		$	40		$	35		$	35		$	37		$	34		$	83		$	71		$	122		$	106			$	141
Agency new business written premiums		15			21			16			12			16			16			13			37			29			52			45				57
Other written premiums		(3		)	(3		)	(3		)	(2		)	(3		)	(2		)	(2		)	(6		)	(4		)	(9		)	(7		)		(9		)
Net written premiums – statutory*		$	51		$	61		$	53		$	45		$	48		$	51		$	45		$	114		$	96		$	165		$	144			$	189
Unearned premium change		2			(9		)	(5		)	2			—			(6		)	(2		)	(14		)	(8		)	(12		)	(8		)		(6		)
Earned premiums		$	53		$	52		$	48		$	47		$	48		$	45		$	43		$	100		$	88		$	153		$	136			$	183
Year over year change %
Agency renewal written premiums		11		%	16		%	18		%	13		%	6		%	9		%	13		%	17		%	11		%	15		%	9		%		10		%
Agency new business written premiums		(6		)	31			23			(25		)	33			7			0			28			4			16			13				2
Other written premiums		—			(50		)	(50		)	33			(50		)	33			(100		)	(50		)	0			(29		)	(17		)		—
Net written premiums – statutory*		6			20			18			2			12			11			7			19			9			15			10				9
Paid losses and loss expenses
Losses paid		$	8		$	11		$	10		$	9		$	7		$	12		$	6		$	21		$	18		$	29		$	25			$	34
Loss expenses paid		6			5			6			5			6			5			5			11			10			17			16				21
Loss and loss expenses paid		$	14		$	16		$	16		$	14		$	13		$	17		$	11		$	32		$	28		$	46		$	41			$	55
Incurred losses and loss expenses
Loss and loss expense incurred		$	24		$	20		$	14		$	13		$	15		$	27		$	13		$	34		$	40		$	58		$	55			$	68
Loss and loss expenses paid as a % of incurred		58.3		%	80.0		%	114.3		%	107.7		%	86.7		%	63.0		%	84.6		%	94.1		%	70.0		%	79.3		%	74.5		%		80.9		%
Statutory combined ratio
Loss ratio		30.1		%	20.3		%	15.8		%	14.2		%	21.4		%	40.0		%	15.1		%	18.2		%	27.9		%	22.4		%	25.6		%		22.6		%
Loss adjustment expense ratio		15.7			18.2			13.1			15.1			10.5			18.0			16.6			15.7			17.3			15.7			14.9				15.0
Net underwriting expense ratio		31.6			28.6			32.8			30.9			30.8			29.9			30.3			30.6			30.1			30.9			30.4				30.5
Statutory combined ratio		77.4		%	67.1		%	61.7		%	60.2		%	62.7		%	87.9		%	62.0		%	64.5		%	75.3		%	69.0		%	70.9		%		68.1		%
Contribution from catastrophe losses		1.4			1.3			0.8			2.6			0.2			3.2			0.2			1.1			1.8			1.2			1.2				1.5
Statutory combined ratio excl. catastrophe losses		76.0		%	65.8		%	60.9		%	57.6		%	62.5		%	84.7		%	61.8		%	63.4		%	73.5		%	67.8		%	69.7		%		66.6		%
GAAP combined ratio
GAAP combined ratio		74.8		%	66.2		%	62.3		%	58.7		%	61.3		%	87.4		%	61.1		%	64.3		%	74.6		%	68.0		%	69.9		%		67.0		%
Contribution from catastrophe losses		1.4			1.3			0.8			2.6			0.2			3.2			0.2			1.1			1.8			1.2			1.2				1.5
GAAP combined ratio excl. catastrophe losses		73.4		%	64.9		%	61.5		%	56.1		%	61.1		%	84.2		%	60.9		%	63.2		%	72.8		%	66.8		%	68.7		%		65.5		%
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.



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)	2017			2016			Change			% Change		2017			2016			Change			% Change
Net premiums written	$	67		$	66		$	1		2		$	201		$	206		$	(5	)	(2	)
Net investment income	40			40			—			—		122			119			3			3
Amortization of interest maintenance reserve	2			2			—			—		4			4			—			—
Commissions and expense allowances on reinsurance ceded	1			1			—			—		4			4			—			—
Income from fees associated with separate accounts	1			1			—			—		4			4			—			—
Total revenues	$	111		$	110		$	1		1		$	335		$	337		$	(2	)	(1	)

Death benefits and matured endowments	$	25		$	28		$	(3	)	(11	)	$	75		$	81		$	(6	)	(7	)
Annuity benefits	20			15			5			33		59			49			10			20
Disability benefits and benefits under accident and health contracts	1			1			—			—		2			2			—			—
Surrender benefits and group conversions	4			5			(1		)	(20	)	15			14			1			7
Interest and adjustments on deposit-type contract funds	2			2			—			—		6			6			—			—
Increase in aggregate reserves for life and accident and health contracts	28			43			(15		)	(35	)	103			136			(33		)	(24	)
Total benefit expenses	$	80		$	94		$	(14	)	(15	)	$	260		$	288		$	(28	)	(10	)

Commissions	$	11		$	11		$	—		—		$	33		$	31		$	2		6
General insurance expenses and taxes	12			11			1			9		35			33			2			6
Increase in loading on deferred and uncollected premiums	1			(1		)	2			nm		(1		)	(4		)	3			75
Net transfers from separate accounts	—			(2		)	2			nm		(2		)	(6		)	4			67
Total underwriting expenses	$	24		$	19		$	5		26		$	65		$	54		$	11		20

Federal and foreign income tax benefit	(1		)	—			(1		)	nm		(2		)	(2		)	—			—

Net gain (loss) from operations before realized capital gains	$	8		$	(3	)	$	11		nm		$	12		$	(3	)	$	15		nm

Realized gains and losses net of capital gains tax, net	(1		)	3			(4		)	nm		(4		)	5			(9		)	nm

Net income (statutory)	$	7		$	—		$	7		nm		$	8		$	2		$	6		300
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+