Supplementary Insurance Information |
Schedule III | | | | | | | | | | | | | | | | | | | | | Cincinnati Financial Corporation and Subsidiaries | Supplementary Insurance Information | (Dollars in millions) | | Years ended December 31, | | | 2023 | | 2022 | | 2021 | Deferred policy acquisition costs: | | | | | | | Commercial lines insurance | | $ | 387 | | | $ | 372 | | | $ | 345 | | Personal lines insurance | | 210 | | | 168 | | | 145 | | Excess and surplus lines insurance | | 43 | | | 37 | | | 33 | | Other | | 109 | | | 105 | | | 79 | | Total property casualty insurance | | 749 | | | 682 | | | 602 | | Life insurance | | 344 | | | 331 | | | 314 | | Total | | $ | 1,093 | | | $ | 1,013 | | | $ | 916 | | | | | | | | | Gross future policy benefits, losses, claims and expense losses: | | | | | | | Commercial lines insurance | | $ | 5,887 | | | $ | 5,568 | | | $ | 5,007 | | Personal lines insurance | | 990 | | | 916 | | | 814 | | Excess and surplus lines insurance | | 932 | | | 753 | | | 577 | | Other | | 1,166 | | | 1,099 | | | 831 | | Total property casualty insurance | | 8,975 | | | 8,336 | | | 7,229 | | Life insurance | | 3,094 | | | 3,038 | | | 3,498 | | Total (1) | | $ | 12,069 | | | $ | 11,374 | | | $ | 10,727 | | | | | | | | | Gross unearned premiums: | | | | | | | Commercial lines insurance | | $ | 2,111 | | | $ | 2,021 | | | $ | 1,857 | | Personal lines insurance | | 1,253 | | | 994 | | | 850 | | Excess and surplus lines insurance | | 273 | | | 236 | | | 207 | | Other | | 481 | | | 437 | | | 356 | | Total property casualty insurance | | 4,118 | | | 3,688 | | | 3,270 | | Life insurance | | 1 | | | 1 | | | 1 | | Total (1) | | $ | 4,119 | | | $ | 3,689 | | | $ | 3,271 | | | | | | | | | Other policy claims and benefits payable: | | | | | | | Commercial lines insurance | | $ | — | | | $ | — | | | $ | — | | Personal lines insurance | | — | | | — | | | — | | Excess and surplus lines insurance | | — | | | — | | | — | | Other | | — | | | — | | | — | | Total property casualty insurance | | — | | | — | | | — | | Life insurance | | 49 | | | 41 | | | 53 | | Total (1) | | $ | 49 | | | $ | 41 | | | $ | 53 | | | | | | | | | Earned premiums: | | | | | | | Commercial lines insurance | | $ | 4,264 | | | $ | 4,024 | | | $ | 3,674 | | Personal lines insurance | | 2,044 | | | 1,689 | | | 1,542 | | Excess and surplus lines insurance | | 542 | | | 485 | | | 398 | | Other | | 795 | | | 726 | | | 570 | | Total property casualty insurance | | 7,645 | | | 6,924 | | | 6,184 | | Life insurance | | 313 | | | 301 | | | 294 | | Total | | $ | 7,958 | | | $ | 7,225 | | | $ | 6,478 | | | | | | | | |
Schedule III (continued) | | | | | | | | | | | | | | | | | | | | | Cincinnati Financial Corporation and Subsidiaries | Supplementary Insurance Information | (Dollars in millions) | | Years ended December 31, | | | 2023 | | 2022 | | 2021 | Investment income, net of expenses: | | | | | | | Commercial lines insurance | | $ | — | | | $ | — | | | $ | — | | Personal lines insurance | | — | | | — | | | — | | Excess and surplus lines insurance | | — | | | — | | | — | | Other | | — | | | — | | | — | | Total property casualty insurance (2) | | 602 | | | 509 | | | 457 | | Life insurance | | 184 | | | 171 | | | 166 | | Total | | $ | 786 | | | $ | 680 | | | $ | 623 | | | | | | | | | Benefits, claims losses and settlement expenses: | | | | | | | Commercial lines insurance | | $ | 2,787 | | | $ | 2,761 | | | $ | 1,940 | | Personal lines insurance | | 1,442 | | | 1,166 | | | 992 | | Excess and surplus lines insurance | | 350 | | | 315 | | | 250 | | Other | | 379 | | | 474 | | | 414 | | Total property casualty insurance | | 4,958 | | | 4,716 | | | 3,596 | | Life insurance | | 316 | | | 303 | | | 313 | | | | | | | | | Total | | $ | 5,274 | | | $ | 5,019 | | | $ | 3,909 | | | | | | | | | Amortization of deferred policy acquisition costs: | | | | | | | Commercial lines insurance | | $ | 808 | | | $ | 769 | | | $ | 703 | | Personal lines insurance | | 367 | | | 311 | | | 276 | | Excess and surplus lines insurance | | 89 | | | 79 | | | 63 | | Other | | 157 | | | 144 | | | 109 | | Total property casualty insurance | | 1,421 | | | 1,303 | | | 1,151 | | Life insurance | | 29 | | | 27 | | | 25 | | Total (3) | | $ | 1,450 | | | $ | 1,330 | | | $ | 1,176 | | | | | | | | | Underwriting, acquisition and insurance expenses: | | | | | | | Commercial lines insurance | | $ | 505 | | | $ | 460 | | | $ | 437 | | Personal lines insurance | | 243 | | | 198 | | | 181 | | Excess and surplus lines insurance | | 52 | | | 45 | | | 43 | | Other | | 76 | | | 72 | | | 55 | | Total property casualty insurance | | 876 | | | 775 | | | 716 | | Life insurance | | 58 | | | 57 | | | 54 | | Total (3) | | $ | 934 | | | $ | 832 | | | $ | 770 | | | | | | | | | Net written premiums: | | | | | | | Commercial lines insurance | | $ | 4,336 | | | $ | 4,159 | | | $ | 3,811 | | Personal lines insurance | | 2,302 | | | 1,831 | | | 1,594 | | Excess and surplus lines insurance | | 570 | | | 502 | | | 426 | | Other | | 838 | | | 815 | | | 648 | | Total property casualty insurance | | 8,046 | | | 7,307 | | | 6,479 | | Accident and health insurance | | 2 | | | 2 | | | 2 | | Total | | $ | 8,048 | | | $ | 7,309 | | | $ | 6,481 | | | | | | | | |
Notes to Schedule III: (1) The sum of gross future policy benefits, losses, claims and expense losses, gross unearned premiums and other policy claims and benefits payable is equal to the sum of Loss and loss expense reserves, Life policy reserves and investment contract reserves and Unearned premiums reported in the company’s consolidated balance sheets. (2) This segment information is not regularly allocated to segments and reviewed by company management in making decisions about resources to be allocated to the segments or to assess their performance. (3) The sum of amortization of deferred policy acquisition costs and other underwriting and insurance expenses is equal to Underwriting, acquisition and insurance expenses in the consolidated statements of income.
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