Exhibit 99.2

Cincinnati Financial Corporation
Supplemental Financial Data
September 30, 2009
Third Quarter

6200 South Gilmore Road
Fairfield, Ohio 45014-5141
www.cinfin.com

Investor Contact:	Media Contact:	Shareholder Contact:
Dennis E. McDaniel	Joan O. Shevchik	Jerry L. Litton
(513) 870-2768	(513) 603-5323	(513) 870-2639

							Standard &
	A.M. Best		Fitch		Moody’s		Poor’s
Cincinnati Financial Corporation
Corporate Debt		a	BBB+			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	AA-			—		A+

Ratings are as of October 28, 2009, under continuous review and subject to change and/or affirmation. For the current ratings, select Financial Strength Ratings on www.cinfin.com.

The consolidated financial statements and financial exhibits that follow are unaudited. These consolidated financial statements and exhibits should be read in conjunction with the consolidated financial statements and notes included our periodic filings with the U.S. Securities and Exchange Commission. The results of operations for interim periods may not be indicative of results to be expected for the full year.

Cincinnati Financial Corporation
Supplemental Financial Data
Third Quarter 2009

	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, 2009	5
CFC and Subsidiaries Consolidation — Three Months Ended September 30, 2009	6
Quarterly Net Income Reconciliation	7
CFC Insurance Subsidiaries — Selected Balance Sheet Data	8
Consolidated Property Casualty Insurance Operations (Includes Cincinnati Specialty Underwriters Insurance Company (CSU))
Statutory Statements of Income	9
Statutory Quarterly Analysis — Consolidated	10
Statutory Quarterly Analysis — Commercial Lines	11
Statutory Quarterly Analysis — Personal Lines	12
Direct Written Premiums by Line of Business and State	13
Quarterly Property Casualty Data — Commercial Lines of Business	14
Quarterly Property Casualty Data — Personal Lines of Business	15
Quarterly Detailed Loss Analysis	16
Loss and Loss Expense Analysis	17
Reconciliation Data
Quarterly Property Casualty Data — Consolidated	18
Quarterly Property Casualty Data — Commercial Lines	19
Quarterly Property Casualty Data — Personal Lines	20
Life Insurance Operations
Statutory Statements of Income	21

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

Cincinnati Financial Corporation prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). Statutory data is prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual and therefore is not reconciled to GAAP data.

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 may improve its understanding of trends in the underlying business and 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; or relate to accounting refinements that affect comparability between periods, creating a need to analyze data on the same basis.

• Operating income: Operating income is calculated by excluding net realized investment gains and losses (defined as realized investment gains and losses after applicable federal and state income taxes) from net income. Management evaluates operating income to measure the success of pricing, rate and underwriting strategies. While realized investment gains (or losses) are integral to the company’s insurance operations over the long term, the determination to realize investment gains or losses in any period may be subject to management’s discretion and is independent of the insurance underwriting process. Also, under applicable GAAP accounting requirements, gains and losses can be recognized from certain changes in market values of securities without actual realization. Management believes that the level of realized investment gains or losses for any particular period, while it may be material, may not fully indicate the performance of ongoing underlying business operations in that period.
For these reasons, many investors and shareholders consider operating income to be one of the more meaningful measures for evaluating insurance company performance. Equity analysts who report on the insurance industry and the company generally focus on this metric in their analyses. The company presents operating income so that all investors have what management believes to be a useful supplement to GAAP information.

• Statutory accounting rules: For public reporting, insurance companies prepare financial statements in accordance with GAAP. However, insurers also must calculate certain data according to statutory accounting rules as defined in the NAIC’s Accounting Practices and Procedures Manual, which may be, and has been, modified by various state insurance departments. Statutory data is publicly available, and various organizations use it to calculate aggregate industry data, study industry trends and compare insurance companies.

• Written premium: Under statutory accounting rules, property casualty written premium is the amount recorded for policies issued and recognized on an annualized basis at the effective date of the policy. Management analyzes trends in written premium to assess business efforts. Earned premium, used in both statutory and GAAP accounting, is calculated ratably over the policy term. The difference between written and earned premium is unearned premium.

• Written premium adjustment — statutory basis only: In 2002, the company refined its estimation process for matching property casualty written premiums to policy effective dates, which added $117 million to 2002 written premiums. To better assess ongoing business trends, management may exclude this adjustment when analyzing trends in written premiums and statutory ratios that make use of written premiums.

2009 Third-Quarter Supplement 3

Cincinnati Financial Corporation
Quick Reference — Third Quarter 2009
(all data shown is for the three months ended or as of September 30, 2009)

(Based on reported data — see Pages 14-16 for adjusted data)

				Year over year
	9/30/2009			change %
Revenues:
Commercial lines net written premiums	$	528			(1.8	)
Personal lines net written premiums		190			3.2
Surplus lines net written premiums		12			159.1
Property casualty net written premiums		730			0.5
Commercial lines net earned premiums		555			(4.7	)
Personal lines net earned premiums		170			1.8
Surplus lines net earned premiums		8			442.0
Property casualty net earned premiums		733			(2.4	)
Life and accident and health net earned premiums		33			10.7
Investment income		127			(2.4	)
Realized gains on investments		110			(59.7	)
Other income		4			30.2
Total revenues		1,007			(15.1	)
Income:
Operating income	$	96			30.7
Net realized investment gains and losses		75			(57.2	)
Net income		171			(31.0	)
Per share (diluted):
Operating income	$	0.59			31.9
Net realized investment gains and losses		0.46			(56.8	)
Net income		1.05			(30.0	)
Book value		28.44			(1.5	)
Weighted average shares — diluted		162,901,396			(0.8	)
Benefits and expenses:
Commercial lines loss and loss expenses	$	329			(11.5	)
Personal lines loss and loss expenses		125			(17.2	)
Surplus lines loss and loss expenses		5			nm
Life and accident and health losses and policy benefits		40			(1.0	)
Underwriting, acquisition and insurance expenses		247			(0.5	)
Operating expenses		4			22.4
Interest expenses		14			(1.9	)
Total expenses		763			(8.0	)
Net income before income taxes		244			(31.6	)
Total income tax benefit		73			(33.1	)
Ratios:
Commercial lines GAAP combined ratio		92.4	%
Personal lines GAAP combined ratio		102.3
Property casualty GAAP combined ratio		95.1
Commercial lines STAT combined ratio		94.9	%
Personal lines STAT combined ratio		102.8
Property casualty STAT combined ratio		96.9
Balance Sheet:
Fixed maturity investments	$	7,668
Equity securities		2,669
Short-term investments		12
Other invested assets		79
Total invested assets	$	10,428
Loss and loss expense reserves	$	4,195
Total debt		839
Shareholders’ equity		4,626

2009 Third-Quarter Supplement 4

Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Nine Months Ended September 30, 2009

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		CINFIN			C-SUPR			ELIM			Total
Revenues:
Premiums earned:
Property Casualty	$	—		$	2,327		$	—		$	—	$	—		$	—		$	—		$	2,326
Life		—			—			134			—		—			—			—			134
Accident health		—			—			5			—		—			—			—			5
Premiums ceded		—			(129	)		(36	)		—		—			—			—			(165	)
Total earned premium		—			2,198			103			—		—			—			—			2,301
Investment income		31			248			90			—		—			—			1			370
Realized gain on investments		88			36			(33	)		—		(1	)		—			—			90
Other income		11			4			1			5		—			3			(14	)		9
Total revenues	$	130		$	2,486		$	161		$	5	$	(1	)	$	3		$	(13	)	$	2,770
Benefits & expenses:
Losses & policy benefits	$	—		$	1,683		$	147		$	—	$	—		$	—		$	(4	)	$	1,826
Reinsurance recoveries		—			(60	)		(29	)		—		—			—			—			(89	)
Underwriting, acquisition and insurance expenses		—			716			34			—		—			—			—			750
Other operating expenses		19			—			—			3		—			3			(11	)		14
Interest expense		39			—			—			2		—			—			—			42
Total expenses	$	58		$	2,339		$	152		$	5	$	—		$	3		$	(15	)	$	2,543
Income (loss) before income taxes	$	71		$	148		$	9		$	—	$	(1	)	$	—		$	1		$	227
Provision (benefit) for income taxes:
Current operating income	$	(15	)	$	(8	)	$	(3	)	$	—	$	—		$	—		$	—		$	(25	)
Capital gains/losses		31			13			(12	)		—		—			—			—			31
Deferred		4			12			17			—		—			—			—			34
Total provision for income taxes	$	19		$	17		$	3		$	—	$	—		$	—		$	—		$	40
Operating income (loss)	$	(5	)	$	107		$	27		$	—	$	—		$	—		$	1		$	128
Net income (loss) — current year	$	52		$	131		$	5		$	—	$	(1	)	$	—		$	1		$	187
Net income (loss) — prior year	$	(70	)	$	271		$	(20	)	$	1	$	—		$	(1	)	$	87		$	268

* Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.

2009 Third-Quarter Supplement 5

Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended September 30, 2009

(Dollars in millions)	CFC			CONSOL P&C			CLIC			CFC-I		CINFIN		C-SUPR		ELIM			Total
Revenues:
Premiums earned:
Property Casualty	$	—		$	776		$	—		$	—	$	—	$	—	$	—		$	776
Life		—			—			43			—		—		—		—			43
Accident health		—			—			2			—		—		—		—			2
Premiums ceded		—			(43	)		(12	)		—		—		—		—			(55	)
Total earned premium		—			733			33			—		—		—		—			766
Investment income		11			85			31			—		—		—		—			127
Realized gain on investments		21			90			(1	)		—		—		—		—			110
Other income		4			2			—			2		—		1		(5	)		4
Total revenues	$	36		$	910		$	63		$	2	$	—	$	1	$	(5	)	$	1,007
Benefits & expenses:
Losses & policy benefits	$	—		$	488		$	48		$	—	$	—	$	—	$	(1	)	$	535
Reinsurance recoveries		—			(29	)		(8	)		—		—		—		—			(37	)
Underwriting, acquisition and insurance expenses		—			238			10			—		—		—		—			247
Other operating expenses		6			—			—			1		—		1		(4	)		4
Interest expense		13			—			—			1		—		—		—			14
Total expenses	$	19		$	697		$	50		$	2	$	—	$	1	$	(5	)	$	763
Income before income taxes	$	17		$	213		$	13		$	—	$	—	$	—	$	—		$	244
Provision (benefit) for income taxes:
Current operating income	$	(4	)	$	25		$	2		$	—	$	—	$	—	$	—		$	23
Capital gains/losses		7			31			(3	)		—		—		—		—			36
Deferred		1			8			6			—		—		—		—			14
Total provision for income taxes	$	4		$	64		$	5		$	—	$	—	$	—	$	—		$	73
Operating income (loss)	$	(1	)	$	90		$	7		$	—	$	—	$	—	$	—		$	97
Net income — current year	$	13		$	149		$	8		$	—	$	—	$	—	$	—		$	171
Net income (loss) — prior year	$	(44	)	$	228		$	(24	)	$	—	$	—	$	—	$	87		$	247

* Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.

2009 Third-Quarter Supplement 6

Cincinnati Financial Corporation
Quarterly Net Income Reconciliation

								Three months ended														Six months ended						Nine months ended						Twelve months ended
(Dollars in millions except per share data)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08		9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Net income (loss)		$	171		$	(19	)	$	35		$	161	$	247		$	63		$	(42	)	$	17		$	21		$	187		$	268			$	429
Net realized investment gains and losses			75			(14	)		(2	)		69		173			(6	)		(151	)		(15	)		(157	)		58			16				85
Operating income (loss)			96			(5	)		37			92		74			69			109			32			178			129			252				344
Less catastrophe losses			(4	)		(77	)		(34	)		10		(41	)		(74	)		(28	)		(111	)		(101	)		(115	)		(142	)			(132	)
Operating income before catastrophe losses		$	100		$	72		$	71		$	82	$	115		$	143		$	137		$	143		$	279		$	244		$	394			$	476
Diluted per share data
Net income (loss)		$	1.05		$	(0.12	)	$	0.22		$	0.99	$	1.50		$	0.38		$	(0.26	)	$	0.10		$	0.13		$	1.15		$	1.64			$	2.62
Net realized investment gains and losses			0.46			(0.09	)		(0.01	)		0.42		1.05			(0.04	)		(0.92	)		(0.10	)		(0.95	)		0.36			0.10				0.52
Operating income (loss)			0.59			(0.03	)		0.23			0.57		0.45			0.42			0.66			0.20			1.08			0.79			1.54				2.10
Less catastrophe losses			(0.03	)		(0.47	)		(0.21	)		0.06		(0.25	)		(0.45	)		(0.17	)		(0.68	)		(0.62	)		(0.71	)		(0.87	)			(0.81	)
Operating income before catastrophe losses		$	0.62		$	0.44		$	0.44		$	0.51	$	0.70		$	0.87		$	0.83		$	0.88		$	1.70		$	1.50		$	2.41			$	2.91

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.

2009 Third-Quarter Supplement 7

Cincinnati Financial Corporation Insurance Subsidiaries
Selected Balance Sheet Data

(Dollars in millions)	12/31/2009	9/30/2009		6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			3/31/2008
Cincinnati Insurance Consolidated (including CSU)
Fixed maturities (fair value)		$	5,521	$	5,169		$	4,804		$	4,309		$	4,183		$	4,304		$	4,351
Equities (fair value)			2,477		2,247			1,986			2,432			3,210			3,537			4,226
Short-term investments (fair value)			10		11			13			19			162			—			51
Fixed maturities — pretax net unrealized gain (loss)			301		25			(36	)		(108	)		(132	)		(33	)		39
Equities — pretax net unrealized gain			594		487			347			627			1,012			1,227			1,831
Loss and loss expense reserves — STAT			3,656		3,674			3,555			3,494			3,507			3,534			3,448
Equity GAAP			4,283		3,795			3,512			3,667			3,947			4,011			4,498
Surplus — STAT			3,472		3,241			3,105			3,360			3,687			3,650			4,027
The Cincinnati Life Insurance Company
Fixed maturities (fair value)		$	1,868	$	1,694		$	1,534		$	1,467		$	1,483		$	1,551		$	1,534
Equities (fair value)			123		103			89			122			200			265			307
Short-term investments (fair value)			1		1			—			—			—			—			—
Fixed maturities — pretax net unrealized gain (loss)			67		(43	)		(94	)		(115	)		(79	)		(35	)		—
Equities — pretax net unrealized gain (loss)			11		(8	)		(27	)		(7	)		61			92			127
Equity — GAAP			653		563			454			471			530			617			661
Surplus — STAT			283		270			254			290			371			420			453

	12/31/2007		9/30/2007		6/30/2007			3/31/2007		12/31/2006		9/30/2006		6/30/2006			3/31/2006
Cincinnati Insurance Consolidated (including CSU)
Fixed maturities (fair value)	$	4,295	$	4,366	$	4,367		$	4,362	$	4,296	$	4,258	$	4,160		$	4,189
Equities (fair value)		4,595		5,201		5,411			5,472		5,494		5,134		4,827			4,946
Short-term investments (fair value)		50		19		72			3		92		—		—			126
Fixed maturities — pretax net unrealized gain (loss)		58		23		(30	)		44		47		51		(55	)		2
Equities — pretax net unrealized gain		2,077		2,657		2,917			3,017		3,166		2,859		2,621			2,758
Loss and loss expense reserves — STAT		3,398		3,461		3,374			3,373		3,356		3,314		3,237			3,169
Equity GAAP		4,784		5,282		5,404			5,272		5,261		5,073		4,702			4,730
Surplus — STAT		4,307		4,782		4,937			4,741		4,723		4,607		4,342			4,334
The Cincinnati Life Insurance Company Fixed maturities (fair value)	$	1,465	$	1,475	$	1,415		$	1,384	$	1,381	$	1,399	$	1,344		$	1,338
Equities (fair value)		371		459		478			539		532		494		458			470
Short-term investments (fair value)		51		18		29			16		3		—		—			20
Fixed maturities — pretax net unrealized gain (loss)		6		4		(4	)		20		15		17		(17	)		6
Equities — pretax net unrealized gain (loss)		162		225		254			305		307		271		238			256
Equity — GAAP		685		724		730			739		719		688		652			666
Surplus — STAT		477		485		491			483		479		461		459			470

2009 Third-Quarter Supplement 8

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)	2009			2008			Change			% Change			2009			2008			Change			% Change
Underwriting income
Net premiums written	$	730		$	727		$	3			0.5		$	2,231		$	2,292		$	(62	)		(2.7	)
Unearned premiums increase		(3	)		(24	)		21			(88.0	)		33			30			3			10.6
Earned premiums	$	733		$	751		$	(18	)		(2.4	)	$	2,198		$	2,263		$	(65	)		(2.9	)
Losses incurred	$	368		$	456		$	(88	)		(19.4	)	$	1,350		$	1,353		$	(3	)		(0.2	)
Allocated loss expenses incurred		45			19			26			137.2			130			89			41			46.2
Unallocated loss expenses incurred		47			48			(1	)		(2.3	)		143			140			3			2.0
Other underwriting expenses incurred		246			238			9			3.7			709			697			12			1.7
Workers compensation dividend incurred		3			3			0			0.8			13			5			8			177.8
Total underwriting deductions	$	709		$	764		$	(55	)		(7.2	)	$	2,344		$	2,283		$	61			2.7
Net underwriting gain (loss)	$	24		$	(13	)	$	37			nm		$	(146	)	$	(20	)	$	(126	)		625.5
Investment income
Gross investment income earned	$	888		$	85		$	803			945.3		$	255		$	270		$	(15	)		(5.6	)
Net investment income earned		87			84			3			3.6			251			266			(15	)		(5.7	)
Net realized capital gains		54			171			(117	)		(68.2	)		15			77			(62	)		(80.2	)
Net investment gains (excl. subs)	$	141		$	255		$	(114	)		(44.6	)	$	266		$	343		$	(77	)		(22.4	)
Dividend from subsidiary		—			—			—			—			—			—			—			—
Net investment gains (net of tax)	$	141		$	255		$	(114	)		(44.6	)	$	266		$	343		$	(77	)		(22.4	)
Other income	$	2		$	1		$	1			145.4		$	4		$	2		$	2			122.0
Net income before federal income taxes	$	167		$	242		$	(76	)		(31.3	)	$	124		$	325		$	(200	)		(61.7	)
Federal and foreign income taxes incurred	$	25		$	83		$	(59	)		(70.5	)	$	(6	)	$	168		$	(173	)	nm
Net income (loss) (statutory)	$	142		$	159		$	(17	)		(10.8	)	$	130		$	157		$	(27	)		(17.2	)

*	Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
*	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.

2009 Third-Quarter Supplement 9

Consolidated Cincinnati Insurance Companies — All Lines

Statutory Quarterly Analysis

(Based on reported data — see Page 18 for adjusted data)

	Three months ended																						Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Net premiums written		$	730		$	723		$	778		$	717		$	727		$	790		$	776		$	1,501		$	1,566		$	2,231		$	2,292			$	3,010
Net premiums earned		$	733		$	733		$	732		$	747		$	751		$	761		$	751		$	1,465		$	1,512		$	2,198		$	2,263			$	3,010
Losses paid		$	390		$	412		$	401		$	383		$	467		$	396		$	383		$	813		$	778		$	1,203		$	1,245			$	1,629
Loss reserve change			(22	)		112			56			(1	)		(11	)		83			35			169			119			147			108				107
Total losses incurred		$	368		$	524		$	457		$	382		$	456		$	479		$	418		$	982		$	897		$	1,350		$	1,353			$	1,736
Allocated loss expense paid			37			42			30			39			35			32			25			71			58			108			93				131
Allocated loss expense reserve change			8			7			6			(12	)		(16	)		1			12			14			12			22			(4	)			(16	)
Total allocated loss expense incurred		$	45		$	49		$	36		$	27		$	19		$	33		$	37		$	85		$	70		$	130		$	89			$	115
Unallocated loss expense paid			46			42			48			62			47			43			43			91			86			137			133				195
Unallocated loss expense reserve change			—			4			2			3			1			3			3			5			6			6			7				10
Total unallocated loss expense incurred		$	46		$	46		$	50		$	65		$	48		$	46		$	46		$	96		$	92		$	143		$	140			$	205
Underwriting expenses incurred			250			232			240			264			241			223			238			472			460			721			701				971
Underwriting (loss) profit		$	24		$	(118	)	$	(51	)	$	9		$	(13	)	$	(20	)	$	12		$	(170	)	$	(7	)	$	(146	)	$	(20	)		$	(17	)
Ratio Data
Loss ratio			50.2	%		71.6	%		62.5	%		51.2	%		60.8	%		63.0	%		55.6	%		67.0	%		59.3	%		61.4	%		59.8	%			57.7	%
Allocated loss expense ratio			6.1			6.7			4.9			3.5			2.5			4.3			5.0			5.8			4.6			5.9			3.9				3.8
Unallocated loss expense ratio			6.4			6.3			6.8			8.7			6.4			6.1			6.1			6.6			6.1			6.5			6.2				6.8
Net underwriting expense ratio			34.2			32.0			30.9			36.8			33.1			28.1			30.6			31.4			29.3			32.4			30.6				32.1
Statutory combined ratio			96.9	%		116.6	%		105.1	%		100.2	%		102.8	%		101.5	%		97.3	%		110.8	%		99.3	%		106.2	%		100.5	%			100.4	%
Statutory combined ratio excluding catastrophes			96.0	%		100.5	%		97.9	%		102.3	%		94.4	%		86.6	%		91.5	%		99.2	%		89.0	%		98.1	%		90.8	%			93.6	%
Loss Detail
New losses greater than $4,000,000		$	18		$	20		$	9		$	10		$	10		$	18		$	—		$	30		$	26		$	48		$	36			$	46
New losses $2,000,000-$4,000,000			24			21			17			19			17			25			22			39			39			63			56				75
New losses $1,000,000-$2,000,000			19			18			11			22			33			17			22			28			39			47			72				94
New losses $750,000-$1,000,000			8			7			11			12			14			13			9			19			21			27			35				48
New losses $500,000-$750,000			18			9			16			16			16			13			11			24			24			42			40				56
New losses $250,000-$500,000			29			31			35			35			33			27			29			66			57			95			90				124
Case reserve development above $250,000			51			70			56			82			59			54			49			125			103			177			162				245
Large losses subtotal		$	167		$	176		$	155		$	196		$	182		$	167		$	142		$	331		$	309		$	499		$	491			$	688
IBNR incurred			12			39			18			(16	)		(6	)		(6	)		6			57			—			69			(6	)			(22	)
Catastrophe losses incurred			7			118			53			(16	)		63			113			43			171			156			177			219				203
Remaining incurred			182			191			231			218			217			205			227			423			432			605			649				867
Total losses incurred		$	368		$	524		$	457		$	382		$	456		$	479		$	418		$	982		$	897		$	1,350		$	1,353			$	1,736
Loss Ratio
New losses greater than $4,000,000			2.5	%		2.8	%		1.3	%		1.3	%		1.3	%		2.4	%		0.0	%		2.0	%		1.7	%		2.2	%		1.6	%			1.5	%
New losses $2,000,000-$4,000,000			3.3			2.9			2.4			2.5			2.2			3.3			2.9			2.6			2.6			2.9			2.5				2.5
New losses $1,000,000-$2,000,000			2.6			2.4			1.4			2.9			4.4			2.2			2.9			1.9			2.6			2.1			3.0				3.1
New losses $750,000-$1,000,000			1.2			1.0			1.5			1.6			1.9			1.7			1.1			1.3			1.4			1.2			1.6				1.6
New losses $500,000-$750,000			2.4			1.2			2.1			2.2			2.1			1.7			1.5			1.7			1.6			1.9			1.8				1.9
New losses $250,000-$500,000			3.9			4.2			4.8			4.6			4.4			3.6			3.9			4.5			3.7			4.3			4.0				4.1
Case reserve development above $250,000			7.0			9.6			7.6			11.0			7.9			7.1			6.5			8.5			6.9			8.0			7.2				8.1
Large losses subtotal			22.9	%		24.1	%		21.1	%		26.1	%		24.2	%		22.0	%		18.8	%		22.5	%		20.5	%		22.6	%		21.7	%			22.8	%
IBNR incurred			1.7			5.3			2.5			(2.1	)		(0.8	)		(0.9	)		0.8			3.9			0.0			3.2			(0.3	)			(0.7	)
Total catastrophe losses incurred			0.9			16.1			7.2			(2.1	)		8.4			14.9			5.7			11.6			10.3			8.1			9.7				6.8
Remaining incurred			24.7			26.1			31.7			29.3			29.0			27.0			30.2			29.0			28.5			27.5			28.7				28.8
Total loss ratio			50.2	%		71.6	%		62.5	%		51.2	%		60.8	%		63.0	%		55.5	%		67.0	%		59.3	%		61.4	%		59.8	%			57.7	%
Loss Claim Count
New losses greater than $4,000,000			4			4			2			2			2			5			2			6			7			10			9				11
New losses $2,000,000-$4,000,000			10			8			7			7			6			8			5			15			13			25			19				26
New losses $1,000,000-$2,000,000			16			14			9			17			27			13			19			23			32			39			59				76
New losses $750,000-$1,000,000			10			8			13			14			17			15			10			21			25			31			42				56
New losses $500,000-$750,000			31			14			28			28			28			23			21			42			44			73			72				100
New losses $250,000-$500,000			89			92			108			105			100			84			87			200			171			289			271				376
Case reserve development above $250,000			81			108			89			146			102			84			81			197			165			278			267				413
Large losses total			241			248			256			319			282			232			225			504			457			745			739				1,058

*	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.

2009 Third-Quarter Supplement 10

Consolidated Cincinnati Insurance Companies — Commercial Lines
Statutory Quarterly Analysis
(Based on reported data — see Page 19 for adjusted data)

	Three months ended																						Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Net premiums written		$	528		$	524		$	626		$	552		$	538		$	597		$	625		$	1,149		$	1,222		$	1,678		$	1,759			$	2,311
Net premiums earned		$	555		$	556		$	557		$	573		$	582		$	586		$	574		$	1,112		$	1,161		$	1,667		$	1,743			$	2,316
Losses paid		$	267		$	275		$	271		$	262		$	326		$	280		$	266		$	546		$	546		$	813		$	871			$	1,133
Loss reserve change			(11	)		92			50			26			(3	)		67			32			142			100			131			97				123
Total losses incurred		$	256		$	367		$	321		$	288		$	323		$	347		$	298		$	688		$	646		$	944		$	968			$	1,256
Allocated loss expense paid			33			39			26			35			31			28			22			64			50			97			82				116
Allocated loss expense reserve change			7			5			6			(13	)		(15	)		1			12			11			13			18			(3	)			(16	)
Total allocated loss expense incurred		$	40		$	44		$	32		$	22		$	16		$	29		$	34		$	75		$	63		$	115		$	79			$	100
Unallocated loss expense paid			33			28			34			42			34			31			30			62			61			95			95				137
Unallocated loss expense reserve change			—			3			2			7			(1	)		1			3			5			4			5			4				10
Total unallocated loss expense incurred		$	33		$	31		$	36		$	49		$	33		$	32		$	33		$	67		$	65		$	100		$	99			$	147
Underwriting expenses incurred			188			170			183			204			180			166			186			353			352			541			532				742
Underwriting (loss) profit		$	38		$	(56	)	$	(15	)	$	10		$	30		$	12		$	23		$	(71	)	$	35		$	(33	)	$	65			$	71
Ratio Data
Loss ratio			46.2	%		66.0	%		57.6	%		50.3	%		55.4	%		59.2	%		52.0	%		61.8	%		55.6	%		56.7	%		55.5	%			54.2	%
Allocated loss expense ratio			7.1			7.8			5.8			3.8			2.7			5.0			5.9			6.8			5.4			6.9			4.5				4.3
Unallocated loss expense ratio			6.0			5.7			6.4			8.4			5.7			5.5			5.7			6.0			5.7			6.0			5.7				6.4
Net underwriting expense ratio			35.6			32.5			29.2			36.5			33.5			27.8			29.7			30.8			28.8			32.2			30.2				31.7
Statutory combined ratio			94.9	%		112.0	%		99.0	%		99.0	%		97.3	%		97.5	%		93.3	%		105.4	%		95.5	%		101.8	%		95.9	%			96.6	%
Statutory combined ratio excluding catastrophes			96.1	%		101.7	%		96.5	%		100.5	%		93.3	%		86.2	%		89.4	%		99.0	%		87.8	%		98.0	%		89.5	%			92.2	%
Loss Detail
New losses greater than $4,000,000		$	13		$	21		$	9		$	10		$	5		$	18		$	—		$	30		$	26		$	43		$	31			$	41
New losses $2,000,000-$4,000,000			19			22			17			19			17			25			22			38			40			58			56				75
New losses $1,000,000-$2,000,000			14			15			9			18			26			15			18			24			33			38			60				78
New losses $750,000-$1,000,000			7			7			9			10			12			11			8			16			19			23			31				41
New losses $500,000-$750,000			15			7			12			11			14			12			9			19			20			34			34				45
New losses $250,000-$500,000			22			24			26			28			25			22			23			51			45			72			70				98
Case reserve development above $250,000			49			63			51			76			57			51			44			114			96			163			153				229
Large losses subtotal		$	139		$	159		$	133		$	172		$	156		$	154		$	124		$	292		$	279		$	431		$	435			$	607
IBNR incurred			11			38			18			(12	)		(7	)		(8	)		6			56			(2	)		67			(10	)			(22	)
Catastrophe losses incurred			(7	)		57			14			(9	)		23			66			22			71			89			64			112				103
Remaining incurred			113			113			156			137			151			135			146			269			280			382			431				568
Total losses incurred		$	256		$	367		$	321		$	288		$	323		$	347		$	298		$	688		$	646		$	944		$	968			$	1,256
Loss Ratio
New losses greater than $4,000,000			2.4	%		3.7	%		1.7	%		1.8	%		0.9	%		3.1	%		0.0	%		2.7	%		2.3	%		2.6	%		1.8	%			1.8	%
New losses $2,000,000-$4,000,000			3.5			3.9			3.1			3.2			2.9			4.3			3.9			3.5			3.4			3.5			3.2				3.2
New losses $1,000,000-$2,000,000			2.6			2.6			1.6			3.1			4.5			2.5			3.2			2.1			2.9			2.3			3.4				3.4
New losses $750,000-$1,000,000			1.2			1.3			1.6			1.7			2.1			1.9			1.3			1.5			1.6			1.4			1.8				1.8
New losses $500,000-$750,000			2.7			1.3			2.1			2.0			2.3			2.0			1.5			1.7			1.7			2.1			1.9				2.0
New losses $250,000-$500,000			3.9			4.4			4.7			4.9			4.3			3.8			4.0			4.5			3.9			4.3			4.0				4.2
Case reserve development above $250,000			8.8			11.4			9.1			13.2			9.8			8.7			7.8			10.3			8.3			9.8			8.8				9.9
Large losses subtotal			25.1	%		28.6	%		23.9	%		29.9	%		26.8	%		26.3	%		21.7	%		26.3	%		24.0	%		26.0	%		24.9	%			26.3	%
IBNR incurred			2.0			6.7			3.3			(2.1	)		(1.3	)		(1.4	)		1.0			5.0			(0.2	)		4.0			(0.6	)			(0.9	)
Total catastrophe losses incurred			(1.2	)		10.3			2.5			(1.5	)		4.0			11.3			3.9			6.4			7.7			3.8			6.4				4.5
Remaining incurred			20.3			20.4			27.9			24.0			25.9			23.0			25.4			24.1			24.2			22.9			24.8				24.3
Total loss ratio			46.2	%		66.0	%		57.6	%		50.3	%		55.4	%		59.2	%		52.0	%		61.8	%		55.7	%		56.7	%		55.5	%			54.2	%
Loss Claim Count
New losses greater than $4,000,000			3			4			2			2			1			4			2			6			4			9			7				9
New losses $2,000,000-$4,000,000			8			8			7			7			6			9			5			15			14			23			20				27
New losses $1,000,000-$2,000,000			12			11			8			14			21			12			16			19			22			31			49				63
New losses $750,000-$1,000,000			8			8			10			11			15			13			9			18			21			26			37				48
New losses $500,000-$750,000			26			12			21			19			24			21			16			33			40			59			61				80
New losses $250,000-$500,000			67			72			81			85			74			67			68			153			166			220			209				294
Case reserve development above $250,000			74			93			77			129			95			76			74			170			206			244			245				374
Large losses total			198			208			206			267			236			202			190			414			473			612			628				895

*	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.

2009 Third-Quarter Supplement 11

Consolidated Cincinnati Insurance Companies — Personal Lines
Statutory Quarterly Analysis
(Based on reported data — see Page 20 for adjusted data)

	Three months ended																						Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Net premiums written		$	190		$	190		$	145		$	160		$	184		$	191		$	150		$	334		$	341		$	524		$	525			$	685
Net premiums earned		$	170		$	172		$	171		$	171		$	167		$	174		$	177		$	343		$	351		$	513		$	518			$	689
Losses paid		$	121		$	137		$	130		$	123		$	141		$	116		$	116		$	267		$	232		$	389		$	373			$	496
Loss reserve change			(14	)		18			4			(31	)		(8	)		16			3			22			19			7			11				(20	)
Total losses incurred		$	107		$	155		$	134		$	92		$	133		$	132		$	119		$	289		$	251		$	396		$	384			$	476
Allocated loss expense paid			4			4			3			4			4			4			3			7			7			11			11				15
Allocated loss expense reserve change			—			—			—			1			(1	)		(1	)		—			—			—			—			(1	)			(1	)
Total allocated loss expense incurred		$	4		$	4		$	3		$	5		$	3		$	3		$	3		$	7		$	7		$	11		$	10			$	14
Unallocated loss expense paid			14			14			15			19			13			13			13			28			25			41			38				57
Unallocated loss expense reserve change			—			1			—			(3	)		1			1			1			—			2			1			3				1
Total unallocated loss expense incurred		$	14		$	15		$	15		$	16		$	14		$	14		$	14		$	28		$	27		$	42		$	41			$	58
Underwriting expenses incurred			56			56			51			58			56			55			51			108			106			163			162				224
Underwriting loss		$	(11	)	$	(58	)	$	(32	)	$	—		$	(39	)	$	(30	)	$	(10	)	$	(89	)	$	(40	)	$	(100	)	$	(79	)		$	(83	)
Ratio Data
Loss ratio			63.1	%		90.1	%		78.3	%		53.6	%		79.7	%		75.6	%		67.4	%		84.2	%		71.5	%		77.1	%		74.1	%			69.0	%
Allocated loss expense ratio			2.4			2.4			1.9			2.7			1.8			1.9			1.9			2.2			1.9			2.2			1.9				2.1
Unallocated loss expense ratio			7.8			8.2			8.3			9.6			8.7			7.9			7.4			8.3			7.6			8.1			8.0				8.3
Net underwriting expense ratio			29.5			29.8			35.4			36.2			30.4			28.9			34.1			32.1			31.2			31.2			30.9				32.2
Statutory combined ratio			102.8	%		130.5	%		123.9	%		102.1	%		120.6	%		114.3	%		110.8	%		126.8	%		112.2	%		118.7	%		114.9	%			111.6	%
Statutory combined ratio excluding catastrophes			94.9	%		95.1	%		101.3	%		106.2	%		96.8	%		87.3	%		99.2	%		97.8	%		92.9	%		96.7	%		94.2	%			97.1	%
Loss Detail
New losses greater than $4,000,000		$	5		$	—		$	—		$	—		$	5		$	—		$	—		$	—		$	—		$	5		$	5			$	5
New losses $2,000,000-$4,000,000			5			—			—			—			—			—			—			—			—			5			—				—
New losses $1,000,000-$2,000,000			5			3			1			4			6			2			4			5			5			10			12				16
New losses $750,000-$1,000,000			2			—			2			3			2			2			1			2			3			4			4				7
New losses $500,000-$750,000			3			1			4			5			2			1			3			5			4			8			6				11
New losses $250,000-$500,000			7			7			9			7			8			5			6			15			12			22			20				26
Case reserve development above $250,000			2			7			5			6			2			3			4			12			7			14			9				16
Large losses subtotal		$	29		$	18		$	21		$	25		$	25		$	13		$	18		$	39		$	31		$	68		$	56			$	81
IBNR incurred			—			—			(1	)		(4	)		2			2			—			(1	)		2			(1	)		4				—
Catastrophe losses incurred			13			61			39			(7	)		40			47			21			100			67			113			107				100
Remaining incurred			65			76			75			78			66			70			80			151			151			216			217				295
Total losses incurred		$	107		$	155		$	134		$	92		$	133		$	132		$	119		$	289		$	251		$	396		$	384			$	476
Loss Ratio
New losses greater than $4,000,000			2.9	%		0.0	%		0.0	%		0.0	%		3.0	%		0.0	%		0.0	%		0.0	%		0.0	%		1.0	%		1.0	%			0.7	%
New losses $2,000,000-$4,000,000			3.0			0.0			0.0			0.0			0.0			0.0			0.0			0.0			0.0			1.0			0.0				0.0
New losses $1,000,000-$2,000,000			2.7			1.9			0.8			2.4			3.8			1.1			2.1			1.4			1.6			1.8			2.3				2.3
New losses $750,000-$1,000,000			1.1			0.0			1.4			1.5			1.0			1.1			0.4			0.7			0.8			0.8			0.8				1.0
New losses $500,000-$750,000			1.7			0.8			2.2			2.9			1.3			0.7			1.5			1.5			1.1			1.5			1.2				1.6
New losses $250,000-$500,000			4.2			4.0			5.0			3.9			4.8			3.0			3.6			4.5			3.3			4.4			3.8				3.8
Case reserve development above $250,000			1.3			3.7			3.0			3.8			1.4			1.5			2.5			3.3			1.9			2.7			1.7				2.3
Large losses subtotal			16.9	%		10.4	%		12.4	%		14.5	%		15.3	%		7.5	%		10.0	%		11.4	%		8.7	%		13.2	%		10.8	%			11.7	%
IBNR incurred			(0.2	)		0.1			(0.6	)		(2.3	)		1.0			0.9			0.2			(0.3	)		0.6			(0.3	)		0.7				0.0
Total catastrophe losses incurred			7.9			35.4			22.6			(4.1	)		23.8			27.0			11.6			29.0			19.3			22.0			20.7				14.5
Remaining incurred			38.5			44.2			43.9			45.5			39.6			40.2			45.6			44.1			42.9			42.2			41.9				42.8
Total loss ratio			63.1	%		90.1	%		78.3	%		53.6	%		79.7	%		75.6	%		67.4	%		84.2	%		71.5	%		77.1	%		74.1	%			69.0	%
Loss Claim Count
New losses greater than $4,000,000			1			—			—			—			1			—			—			—			—			1			1				—
New losses $2,000,000-$4,000,000			2			—			—			—			—			—			—			—			—			2			—				3
New losses $1,000,000-$2,000,000			4			3			1			3			6			1			3			4			4			8			10				7
New losses $750,000-$1,000,000			2			—			3			3			2			2			1			3			6			5			5				14
New losses $500,000-$750,000			5			2			7			9			4			2			5			9			16			14			11				51
New losses $250,000-$500,000			22			20			27			20			26			17			19			47			47			69			62				28
Case reserve development above $250,000			7			15			12			17			7			8			7			27			29			34			22				79
Large losses total			43			40			50			52			46			30			35			90			102			133			111				182

*	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.

2009 Third-Quarter Supplement 12

Consolidated Cincinnati Insurance Companies
Agency Direct Written Premiums by Risk State by Line of Business for the Nine Months Ended September 30, 2009

(Dollars in millions)	Standard Market																				Surplus Lines						Standard Market						*Consolidated
	Commercial Lines														Personal Lines						Commercial		Consolidated				Commercial			Personal			Total
	Comm		Comm		Comm		Workers’		Specialty		Surety &		Mach. &		Pers		Home		Other		Casualty		2009		2008		Change			Change			Change
Risk State	Casualty		Prop		Auto		Comp		Packages		Exec Risk		Equip		Auto		Owner		Personal		& Prop		Total		Total		%			%			%
AL	$	13.9	$	13.2	$	5.8	$	0.9	$	6.1	$	1.8	$	0.5	$	12.6	$	19.3	$	4.2	$	0.8	$	79.2	$	78.5		(0.9	)		0.9			0.9
AZ		8.0		4.9		7.3		0.7		0.8		0.7		0.4		0.5		0.5		0.2		0.2		24.2		24.9		(7.5	)		361.4			(2.9	)
AR		7.0		8.0		4.7		3.0		3.4		1.4		0.4		2.0		2.3		0.7		0.6		33.5		34.1		(5.0	)		5.9			(1.8	)
CO		0.2		0.3		0.2		0.3		—		0.2		—		—		0.1		—		—		1.5		1.5		(3.2	)		(1.2	)		(2.5	)
DE		1.7		1.2		0.9		2.1		0.2		0.1		0.1		—		—		—		—		6.4		4.5		43.2			228.8			43.2
FL		17.7		17.3		7.0		0.9		1.6		1.8		0.7		8.1		12.8		2.4		—		70.3		83.7		(19.3	)		(8.6	)		(16.0	)
GA		19.6		16.3		13.7		9.7		5.9		5.2		0.8		23.4		21.2		6.3		2.2		124.3		122.6		(0.6	)		1.6			1.4
ID		7.4		3.6		3.9		0.2		0.7		0.9		0.2		0.2		0.1		—		0.2		17.5		17.3		(2.4	)	nm				0.8
IL		47.4		33.5		21.8		37.4		10.1		5.4		2.3		18.7		14.4		5.1		2.9		199.0		210.8		(7.9	)		1.9			(5.5	)
IN		32.8		27.7		17.6		19.9		6.4		5.2		1.9		20.6		19.1		5.3		3.9		160.4		164.8		(4.7	)		(1.2	)		(2.6	)
IA		15.1		11.2		7.1		17.8		3.4		2.5		1.1		2.6		2.6		1.3		0.3		64.9		66.8		(2.7	)		(8.2	)		(2.8	)
KS		6.3		6.8		3.7		6.8		2.4		1.6		0.4		3.2		4.0		0.9		0.3		36.3		35.1		4.2			(2.2	)		3.4
KY		15.8		16.6		10.3		2.7		4.4		2.7		0.8		15.7		12.1		3.4		1.1		85.5		82.7		1.7			2.9			3.5
MD		10.7		5.2		8.2		7.9		0.9		1.1		0.3		0.2		1.3		0.4		0.6		36.8		36.5		(1.8	)		18.4			0.8
MI		23.5		16.2		10.2		10.7		8.6		4.9		1.4		8.6		10.4		2.4		1.4		98.3		101.2		(4.9	)		(0.9	)		(2.9	)
MN		15.2		11.9		6.5		5.5		2.6		1.7		0.9		4.8		4.2		2.8		1.1		57.2		58.9		(6.6	)		5.2			(2.8	)
MO		16.3		15.1		9.7		10.8		4.4		2.5		0.8		2.3		3.3		0.8		1.2		67.2		68.7		(5.5	)		14.0			(2.2	)
MT		10.2		5.7		5.4		0.1		0.8		0.3		0.4		0.8		0.7		0.2		0.3		24.8		24.1		(1.7	)		117.9			3.3
NE		4.8		4.1		2.5		5.2		1.0		0.8		0.3		0.6		0.7		0.3		0.2		20.6		21.9		(7.2	)		(1.5	)		(5.9	)
NH		2.3		1.5		1.0		1.8		0.6		0.4		0.1		0.5		0.5		0.3		0.2		9.1		8.6		4.2			0.7			6.0
NM		2.2		0.7		1.1		0.3		0.1		0.4		—		—		—		—		0.1		5.1		2.8		76.2			176.2			79.1
NY		24.6		7.1		9.4		1.8		1.0		2.0		0.5		—		—		—		0.3		46.8		41.4		12.4			7.3			13.2
NC		24.0		19.7		15.1		19.1		9.6		6.0		1.3		3.9		3.5		2.5		1.4		106.0		115.5		(14.6	)		130.2			(8.3	)
ND		3.7		2.6		2.0		—		0.7		0.5		0.2		0.3		0.4		0.1		0.1		10.6		11.1		(5.9	)		10.1			(4.1	)
OH		105.3		68.1		45.0		—		14.9		18.0		3.8		92.1		64.6		23.6		3.8		438.9		461.4		(4.8	)		(5.9	)		(4.9	)
PA		34.1		22.3		21.8		37.2		7.1		4.5		1.4		5.5		4.3		2.7		1.0		142.0		146.5		(3.8	)		(3.2	)		(3.1	)
SC		9.2		5.9		4.7		4.2		1.8		1.8		0.3		0.3		0.2		0.2		0.4		28.9		32.9		(14.7	)		231.4			(12.0	)
SD		2.8		1.8		1.3		2.9		0.3		0.3		0.1		—		—		—		0.1		9.6		12.2		(22.0	)		(6.5	)		(21.2	)
TN		17.2		14.6		10.6		7.9		7.0		3.8		0.9		6.5		6.8		2.6		0.8		78.7		80.0		(3.7	)		2.1			(1.6	)
TX		3.4		4.1		2.0		1.6		0.3		0.4		0.3		—		—		—		0.5		12.6		4.3		180.6			50.0			193.3
UT		9.1		4.3		5.1		0.1		0.5		1.8		0.3		0.9		0.3		0.1		0.8		23.2		21.4		(1.0	)	nm				8.5
VT		3.5		3.0		2.3		4.1		0.7		0.7		0.2		0.5		0.7		0.2		0.2		16.2		17.3		(7.7	)		(4.6	)		(6.2	)
VA		22.3		17.7		13.8		12.8		3.8		5.0		1.0		6.9		5.7		2.3		1.0		92.3		101.0		(10.6	)		(2.2	)		(8.6	)
WA		1.2		0.5		0.8		—		—		0.1		0.1		—		—		—		0.2		3.0		1.0		181.8		nm				206.5
WV		5.7		3.7		3.8		0.7		1.8		1.0		0.2		—		0.5		0.1		0.6		18.1		16.7		5.0			(9.1	)		8.2
WI		20.2		12.9		8.9		20.1		3.1		1.8		1.4		6.5		5.3		2.5		1.1		83.9		86.7		(3.7	)		(4.9	)		(3.2	)
WY		0.5		0.1		0.1		—		—		0.1		—		—		—		—		—		0.8		0.6		31.2			32.2			31.3
All Other		2.2		2.0		1.9		3.1		0.2		1.1		0.1		—		0.1		—		—		10.8		9.7		10.2			29.4			10.3
Total	$	567.0	$	411.4	$	297.2	$	260.4	$	117.2	$	90.6	$	25.9	$	248.9	$	222.2	$	73.9	$	30.0	$	2,344.7	$	2,409.6		(4.6	)		(0.4	)		(2.7	)
Other Direct		—		1.2		—		2.5		—		—		—		—		2.2		—		—		5.9		9.8		(50.4	)		(6.3	)		(39.9	)
Total Direct	$	567.0	$	412.6	$	297.2	$	262.9	$	117.2	$	90.6	$	25.9	$	248.9	$	224.4	$	73.9	$	30.0	$	2,350.6	$	2,419.4		(4.7	)		(0.4	)		(2.8	)

	Surplus direct premiums written were $30.0 million and $8.4 million for the nine months ended September 30, 2009 and 2008, respectively.
*	Consolidated change consists of commercial lines, personal lines and E&S.
	Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.Percentage changes are calculated based on whole dollar amounts.

2009 Third-Quarter Supplement 13

Quarterly Property Casualty Data — Commercial Lines

	Three months ended																						Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Commercial casualty:
Written premiums		$	168		$	171		$	209		$	183		$	171		$	199		$	211		$	379		$	410		$	548		$	582			$	764
Earned premiums			180			180			187			183			196			194			190			366			384			546			580				763
Loss and loss expenses ratio			45.0	%		54.2	%		55.2	%		23.9	%		44.4	%		39.8	%		58.3	%		54.7	%		48.9	%		51.5	%		47.4	%			41.7	%
Less catastrophe loss ratio			—			—			—			—			—			—			—			—			—			—			—				—
Loss and loss expenses excluding catastrophe loss ratio			45.0	%		54.2	%		55.2	%		23.9	%		44.4	%		39.8	%		58.3	%		54.7	%		48.9	%		51.5	%		47.4	%			41.7	%
Commercial property:
Written premiums		$	124		$	113		$	132		$	117		$	117		$	124		$	124		$	245		$	247		$	370		$	364			$	481
Earned premiums			122			120			121			122			120			123			122			241			244			362			364				487
Loss and loss expenses ratio			42.8	%		88.3	%		69.0	%		47.2	%		70.0	%		97.6	%		75.5	%		78.6	%		86.6	%		66.6	%		81.1	%			72.6	%
Less catastrophe loss ratio			0.6			23.5			7.4			(5.3	)		15.6			38.0			16.5			15.4			27.3			10.4			23.4				16.2
Loss and loss expenses excluding catastrophe loss ratio			42.2	%		64.8	%		61.6	%		52.5	%		54.4	%		59.6	%		59.0	%		63.2	%		59.3	%		56.2	%		57.7	%			56.4	%
Commercial auto:
Written premiums		$	92		$	94		$	110		$	94		$	93		$	108		$	107		$	204		$	215		$	296		$	308			$	402
Earned premiums			99			98			99			103			103			104			101			197			205			296			308				411
Loss and loss expenses ratio			67.9	%		62.5	%		59.7	%		94.8	%		63.2	%		67.5	%		63.4	%		61.1	%		65.5	%		63.4	%		64.7	%			72.3	%
Less catastrophe loss ratio			(0.8	)		3.3			(0.1	)		(0.8	)		0.1			3.4			(0.4	)		1.6			1.5			0.8			1.0				0.6
Loss and loss expenses excluding catastrophe loss ratio			68.7	%		59.2	%		59.8	%		95.6	%		63.1	%		64.1	%		63.8	%		59.5	%		64.0	%		62.6	%		63.7	%			71.7	%
Workers’ compensation:
Written premiums		$	69		$	79		$	104		$	89		$	84		$	95		$	114		$	183		$	209		$	252		$	293			$	382
Earned premiums			82			88			83			93			93			94			94			171			189			253			282				375
Loss and loss expenses ratio			110.2	%		130.2	%		117.5	%		128.2	%		90.9	%		78.3	%		64.8	%		124.0	%		71.5	%		119.5	%		77.9	%			90.4	%
Less catastrophe loss ratio			—			—			—			—			—			—			—			—			—			—			—				—
Loss and loss expenses excluding catastrophe loss ratio			110.2	%		130.2	%		117.5	%		128.2	%		90.9	%		78.3	%		64.8	%		124.0	%		71.5	%		119.5	%		77.9	%			90.4	%
Specialty package:
Written premiums		$	38		$	35		$	38		$	37		$	36		$	36		$	37		$	73		$	73		$	110		$	109			$	145
Earned premiums			37			37			35			36			35			36			35			72			72			110			107				144
Loss and loss expenses ratio			33.5	%		114.3	%		96.0	%		40.6	%		80.2	%		109.7	%		63.4	%		105.4	%		86.8	%		81.0	%		84.6	%			73.5	%
Less catastrophe loss ratio			(18.2	)		68.8			13.7			(3.8	)		12.2			43.9			8.1			41.9			26.2			21.5			21.5				15.2
Loss and loss expenses excluding catastrophe loss ratio			51.7	%		45.5	%		82.3	%		44.4	%		68.0	%		65.8	%		55.3	%		63.5	%		60.6	%		59.5	%		63.1	%			58.3	%
Surety and executive risk:
Written premiums		$	28		$	25		$	25		$	24		$	29		$	28		$	25		$	50		$	54		$	78		$	82			$	107
Earned premiums			27			25			25			28			27			28			25			50			53			77			80				107
Loss and loss expenses ratio			85.6	%		67.0	%		30.3	%		76.5	%		73.6	%		92.0	%		45.9	%		48.8	%		70.1	%		61.7	%		71.3	%			72.6	%
Less catastrophe loss ratio			—			—			—			—			—			—			—			—			—			—			—				—
Loss and loss expenses excluding catastrophe loss ratio			85.6	%		67.0	%		30.3	%		76.5	%		73.6	%		92.0	%		45.9	%		48.8	%		70.1	%		61.7	%		71.3	%			72.6	%
Machinery and equipment:
Written premiums		$	9		$	7		$	8		$	8		$	8		$	7		$	7		$	15		$	14		$	24		$	22			$	30
Earned premiums			8			8			7			8			7			7			7			15			14			23			22				29
Loss and loss expense ratio			38.4	%		39.7	%		59.3	%		50.4	%		32.4	%		34.1	%		53.3	%		49.3	%		43.6	%		45.6	%		39.8	%			42.5	%
Less catastrophe loss ratio			(0.1	)		1.2			4.5			(0.2	)		2.8			1.0			—			2.8			0.6			1.8			1.3				0.9
Loss and loss expense excluding catastrophe loss ratio			38.5	%		38.5	%		54.8	%		50.6	%		29.6	%		33.1	%		53.3	%		46.5	%		43.0	%		43.8	%		38.5	%			41.6	%

* 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.

2009 Third-Quarter Supplement 14

Quarterly Property Casualty Data — Personal Lines

	Three months ended																						Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Personal auto:
Written premiums		$	90		$	89		$	68		$	73		$	88		$	89		$	69		$	157		$	158		$	246		$	246			$	320
Earned premiums			80			80			79			80			81			82			83			159			164			239			245				325
Loss and loss expenses ratio			64.9	%		75.7	%		63.6	%		81.0	%		63.7	%		56.8	%		67.6	%		69.7	%		62.2	%		68.1	%		62.7	%			67.2	%
Less catastrophe loss ratio			0.6			3.1			0.3			(1.6	)		1.7			3.1			1.7			1.7			2.4			1.4			2.2				1.2
Loss and loss expenses excluding catastrophe loss ratio			64.3	%		72.6	%		63.3	%		82.6	%		62.0	%		53.7	%		65.9	%		68.0	%		59.8	%		66.7	%		60.5	%			66.0	%
Homeowner:
Written premiums		$	75		$	76		$	56		$	65		$	72		$	79		$	60		$	132		$	139		$	208		$	212			$	277
Earned premiums			68			70			70			69			64			71			72			140			143			207			208				277
Loss and loss expenses ratio			96.4	%		147.8	%		132.9	%		52.9	%		122.8	%		130.7	%		91.4	%		140.3	%		110.9	%		126.0	%		114.6	%			99.2	%
Less catastrophe loss ratio			18.0			77.6			51.5			(8.5	)		54.5			60.0			25.2			64.5			42.5			49.4			46.2				32.5
Loss and loss expenses excluding catastrophe loss ratio			78.4	%		70.2	%		81.4	%		61.4	%		68.3	%		70.7	%		66.2	%		75.8	%		68.4	%		76.6	%		68.4	%			66.7	%
Other personal:
Written premiums		$	25		$	25		$	21		$	21		$	24		$	23		$	21		$	45		$	44		$	70		$	67			$	88
Earned premiums			22			22			22			22			22			21			22			44			44			67			65				87
Loss and loss expenses ratio			33.8	%		42.6	%		37.8	%		51.8	%		91.5	%		43.2	%		62.2	%		40.2	%		52.9	%		38.0	%		65.8	%			62.2	%
Less catastrophe loss ratio			3.4			18.7			11.0			0.4			14.5			8.0			4.1			14.8			6.0			11.0			8.9				6.7
Loss and loss expenses excluding catastrophe loss ratio			30.4	%		23.9	%		26.8	%		51.4	%		77.0	%		35.2	%		58.1	%		25.4	%		46.9	%		27.0	%		56.9	%			55.5	%

* 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.

2009 Third-Quarter Supplement 15

Consolidated Cincinnati Insurance Companies
Quarterly Detailed Loss Analysis

								Three months ended															Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
All Lines
Loss and loss expenses:
Loss and loss expenses — current AY		$	542		$	529		$	482		$	610		$	566		$	532		$	467		$	1,010		$	999		$	1,553		$	1,563			$	2,175
Loss and loss expenses — prior AY’s			(89	)		(27	)		9			(120	)		(107	)		(87	)		(9	)		(18	)		(96	)		(107	)		(201	)			(320	)
Catastrophes — current AY			8			120			55			(17	)		59			113			47			175			160			183			220				203
Catastrophes — prior AY’s			(2	)		(2	)		(2	)		1			3			—			(4	)		(4	)		(4	)		(6	)		(1	)			—
Total		$	459		$	620		$	544		$	474		$	521		$	558		$	501		$	1,163		$	1,059		$	1,623		$	1,581			$	2,058
Ratio to Earned Premiums
Loss and loss expenses :
Loss and loss expenses — current AY			73.9	%		72.1	%		65.8	%		81.9	%		75.3	%		69.7	%		62.2	%		69.0	%		66.0	%		70.6	%		69.1	%			72.2	%
Loss and loss expenses — prior AY’s			(12.1	)		(3.7	)		1.2			(16.2	)		(14.0	)		(11.3	)		(1.2	)		(1.2	)		(6.3	)		(4.9	)		(8.9	)			(10.6	)
Catastrophes — current AY			1.2			16.3			7.5			(2.2	)		8.0			15.0			6.2			11.9			10.5			8.4			9.7				6.7
Catastrophes — prior AY’s			(0.3	)		(0.2	)		(0.3	)		0.1			0.4			(0.1	)		(0.5	)		(0.3	)		(0.2	)		(0.3	)		0.0				0.0
Total			62.7	%		84.5	%		74.2	%		63.6	%		69.7	%		73.3	%		66.7	%		79.4	%		70.0	%		73.8	%		69.9	%			68.3	%
Commercial Lines
Loss and loss expenses:
Loss and loss expenses — current AY		$	407		$	403		$	363		$	464		$	437		$	416		$	354		$	766		$	770		$	1,173		$	1,208			$	1,672
Loss and loss expenses — prior AY’s			(71	)		(18	)		11			(97	)		(89	)		(74	)		(11	)		(7	)		(85	)		(78	)		(174	)			(270	)
Catastrophes — current AY			(4	)		61			17			(9	)		22			66			25			78			92			74			114				105
Catastrophes — prior AY’s			(3	)		(4	)		(3	)		—			1			—			(3	)		(7	)		(3	)		(10	)		(2	)			(2	)
Total		$	329		$	442		$	388		$	358		$	371		$	408		$	365		$	830		$	774		$	1,159		$	1,146			$	1,505
Ratio to Earned Premiums
Loss and loss expenses:
Loss and loss expenses — current AY			73.3	%		72.5	%		65.2	%		80.9	%		75.0	%		70.8	%		61.6	%		68.8	%		66.4	%		70.4	%		69.3	%			72.3	%
Loss and loss expenses — prior AY’s			(12.8	)		(3.2	)		2.1			(17.0	)		(15.2	)		(12.4	)		(1.9	)		(0.6	)		(7.3	)		(4.6	)		(10.0	)			(11.7	)
Catastrophes — current AY			(0.6	)		10.9			3.1			(1.5	)		3.8			11.4			4.5			7.0			7.9			4.4			6.5				4.5
Catastrophes — prior AY’s			(0.6	)		(0.7	)		(0.6	)		0.0			0.2			(0.1	)		(0.6	)		(0.6	)		(0.3	)		(0.6	)		(0.1	)			(0.1	)
Total			59.3	%		79.5	%		69.8	%		62.4	%		63.8	%		69.7	%		63.6	%		74.6	%		66.7	%		69.6	%		65.7	%			65.0	%
Personal Lines
Loss and loss expenses:
Loss and loss expenses — current AY		$	130		$	121		$	115		$	143		$	128		$	114		$	113		$	237		$	228		$	366		$	356			$	499
Loss and loss expenses — prior AY’s			(18	)		(9	)		(2	)		(23	)		(17	)		(12	)		2			(12	)		(11	)		(29	)		(28	)			(51	)
Catastrophes — current AY			12			59			38			(8	)		38			47			22			97			68			109			106				98
Catastrophes — prior AY’s			1			2			1			1			2			—			(1	)		3			(1	)		4			1				2
Total		$	125		$	173		$	152		$	113		$	151		$	149		$	136		$	325		$	284		$	450		$	435			$	548
Ratio to Earned Premiums
Loss and loss expenses:
Loss and loss expenses — current AY			76.1	%		70.9	%		67.4	%		83.8	%		76.3	%		65.6	%		64.1	%		69.0	%		64.8	%		71.3	%		68.6	%			72.4	%
Loss and loss expenses — prior AY’s			(10.7	)		(5.4	)		(1.4	)		(13.7	)		(10.0	)		(7.2	)		1.0			(3.4	)		(3.1	)		(5.8	)		(5.3	)			(7.3	)
Catastrophes — current AY			7.3			34.3			22.0			(4.7	)		22.9			27.0			11.9			28.1			19.4			21.2			20.6				14.2
Catastrophes — prior AY’s			0.6			1.1			0.6			0.5			0.9			0.0			(0.3	)		0.9			(0.1	)		0.8			0.1				0.3
Total			73.3	%		100.9	%		88.6	%		65.9	%		90.1	%		85.4	%		76.7	%		94.6	%		81.0	%		87.5	%		84.0	%			79.6	%

2009 Third-Quarter Supplement 16

Cincinnati Insurance Group (Excludes CSU)
Loss and Loss Expense Analysis

			Paid										Loss												Loss
	Paid		loss		Total		Case			IBNR			expense			Total			Case			IBNR			expense		Total
(In millions)	losses		expense		paid		reserves			reserves			reserves			reserves			incurred			incurred			incurred		incurred
Gross loss and loss expense incurred at September 30, 2009
Commercial casualty	$	188	$	92	$	280	$	24		$	(30	)	$	9		$	2		$	212		$	(30	)	$	101	$	282
Commercial property		255		34		289		(17	)		13			—			(4	)		238			13			34		285
Commercial auto		167		28		195		(11	)		3			—			(8	)		156			3			28		187
Workers’ compensation		184		30		214		(6	)		89			12			95			178			89			42		309
Specialty packages		71		13		84		(3	)		8			1			6			68			8			13		90
Surety and executive risk		34		7		41		(2	)		2			(1	)		—			32			2			6		41
Machinery and equipment		8		1		9		—			—			—			—			8			—			1		9
Total commercial lines		908		204		1,112		(14	)		86			22			91			892			85			226		1,203
Personal auto		152		21		173		(11	)		1			—			(10	)		141			1			21		163
Homeowners		217		26		244		8			20			2			30			225			20			29		274
Other personal		37		4		41		(12	)		(2	)		(1	)		(15	)		24			(2	)		3		26
Total personal lines		406		52		458		(16	)		19			2			5			390			19			53		463
Total property casualty group	$	1,314	$	257	$	1,570	$	(30	)	$	105		$	23		$	96		$	1,283		$	104		$	279	$	1,666
Ceded loss and loss expense incurred at September 30, 2009
Commercial casualty	$	31	$	9	$	40	$	(31	)	$	(7	)	$	(1	)	$	(39	)	$	—		$	(7	)	$	7	$	1
Commercial property		41		—		41		2			1			—			3			42			1			—		43
Commercial auto		1		—		1		(2	)		—			—			(2	)		—			—			—		—
Workers’ compensation		11		1		11		(7	)		2			—			(4	)		4			2			1		7
Specialty packages		2		—		2		(1	)		—			—			(1	)		1			—			—		1
Surety and executive risk		9		2		11		(17	)		—			—			(17	)		(8	)		—			2		(7	)
Machinery and equipment		—		—		—		—			—			—			—			—			—			—		—
Total commercial lines		95		12		106		(56	)		(3	)		(1	)		(60	)		39			(4	)		10		46
Personal auto		1		—		1		—			—			—			—			1			—			—		—
Homeowners		15		—		15		(5	)		3			—			(3	)		10			3			—		12
Other personal		1		—		1		(1	)		—			—			(1	)		—			—			—		—
Total personal lines		17		—		17		(6	)		3			—			(3	)		10			3			—		12
Total property casualty group	$	111	$	12	$	122	$	(62	)	$	—		$	(1	)	$	(63	)	$	49		$	(1	)	$	10	$	58
Net loss and loss expense incurred at September 30, 2009
Commercial casualty	$	157	$	83	$	240	$	55		$	(24	)	$	10		$	41		$	212		$	(24	)	$	93	$	282
Commercial property		215		33		249		(19	)		12			—			(7	)		196			12			33		241
Commercial auto		166		28		194		(9	)		2			—			(6	)		157			2			28		187
Workers’ compensation		174		29		203		—			87			12			99			174			87			42		302
Specialty packages		69		12		82		(2	)		8			1			7			67			8			13		89
Surety and executive risk		25		5		30		16			2			(1	)		17			41			2			4		48
Machinery and equipment		8		1		9		1			—			—			—			9			—			1		11
Total commercial lines		813		192		1,007		42			89			23			152			855			88			214		1,158
Personal auto		151		21		173		(11	)		1			—			(10	)		140			1			21		163
Homeowners		202		26		229		14			17			2			33			216			17			29		261
Other personal		35		4		40		(12	)		(2	)		(1	)		(15	)		24			(2	)		3		26
Total personal lines		389		52		441		(9	)		16			2			8			380			16			53		450
Total property casualty group	$	1,202	$	244	$	1,448	$	33		$	105		$	24		$	160		$	1,235		$	105		$	268	$	1,608

* Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding.

2009 Third-Quarter Supplement 17

Consolidated Cincinnati Insurance Companies
Quarterly Property Casualty Data — All Lines

								Three months ended															Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Premiums
Agency renewal written premiums		$	669		$	666		$	695		$	669		$	687		$	738		$	733		$	1,361		$	1,472		$	2,030		$	2,159			$	2,828
Agency new business written premiums			107			107			97			100			93			100			76			204			175			311			268				368
Ceded written premiums			(42	)		(40	)		(39	)		(41	)		(50	)		(37	)		(38	)		(79	)		(75	)		(122	)		(125	)			(165	)
Other written premiums			2			2			2			2			4			1			2			5			3			7			7				9
Written premium adjustment — statutory			(6	)		(12	)		23			(13	)		(7	)		(12	)		3			11			(9	)		5			(17	)			(30	)
Reported written premiums — statutory*		$	730		$	723		$	778		$	717		$	727		$	790		$	776		$	1,501		$	1,566		$	2,231		$	2,292			$	3,010
Unearned premium change			3			10			(46	)		30			24			(29	)		(25	)		(36	)		(54	)		(33	)		(30	)			—
Earned premiums		$	733		$	733		$	732		$	747		$	751		$	761		$	751		$	1,465		$	1,512		$	2,198		$	2,262			$	3,010
Year over year change %
Agency renewal written premiums			(2.7	)%		(9.8	)%		(5.2	)%		(5.1	)%		(6.1	)%		(3.0	)%		(3.7	)%		(7.6	)%		(3.4	)%		(6.0	)%		(4.3	)%			(4.5	)%
Agency new business written premiums			15.4			7.3			28.9			22.9			12.4			22.8			(6.3	)		16.6			8.3			16.0			9.8				13.1
Ceded written premiums			(14.6	)		7.1			4.6			(0.7	)		20.8			(4.6	)		(1.1	)		5.8			(2.9	)		(2.4	)		5.4				3.8
Other written premiums			(31.5	)		81.6			32.5			(50.6	)		(39.1	)		(74.6	)		(71.8	)		53.5			(73.1	)		7.9			(61.6	)			(59.3	)
Written premium adjustment — statutory			(20.3	)		(0.3	)		661.2			(48.0	)		(81.6	)		(900.0	)		(91.5	)		(220.8	)		(124.3	)		(126.5	)		161.5				(4.8	)
Reported written premiums — statutory*			0.5			(8.5	)		0.3			(1.0	)		(1.3	)		(2.5	)		(8.3	)		(4.2	)		(5.4	)		(2.7	)		(4.2	)			(3.4	)
Statutory combined ratio
Statutory combined ratio			96.9	%		116.6	%		105.1	%		100.2	%		102.8	%		101.5	%		97.2	%		110.8	%		99.4	%		106.2	%		100.5	%			100.4	%
Contribution from catastrophe losses			0.9			16.1			7.2			(2.1	)		8.4			14.9			5.7			11.6			10.3			8.1			9.7				6.8
Statutory combined ratio excluding catastrophe losses			96.0	%		100.5	%		97.9	%		102.3	%		94.4	%		86.6	%		91.5	%		99.2	%		89.1	%		98.1	%		90.8	%			93.6	%
Commission expense ratio			20.1	%		18.2	%		17.7	%		20.8	%		17.7	%		17.4	%		17.7	%		17.9	%		17.5	%		18.7	%		17.6	%			18.4	%
Other expense ratio			14.1			13.8			13.2			15.9			15.4			10.7			12.9			13.5			11.8			13.7			12.8				13.7
Statutory expense ratio			34.2	%		32.0	%		30.9	%		36.7	%		33.1	%		28.1	%		30.6	%		31.4	%		29.3	%		32.4	%		30.4	%			32.1	%
GAAP combined ratio
GAAP combined ratio			95.1	%		116.6	%		107.5	%		98.9	%		101.3	%		103.5	%		98.6	%		112.1	%		101.1	%		106.4	%		101.0	%			100.6	%
Contribution from catastrophe losses			0.9			16.1			7.2			(2.1	)		8.4			14.9			5.7			11.6			10.3			8.1			9.7				6.8
GAAP combined ratio excluding catastrophe losses			94.2	%		100.5	%		100.3	%		101.0	%		92.9	%		88.6	%		92.9	%		100.5	%		90.8	%		98.3	%		91.3	%			93.8	%

*	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.

2009 Third-Quarter Supplement 18

Consolidated Cincinnati Insurance Companies
Quarterly Property Casualty Data — Commercial Lines

								Three months ended															Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Premiums
Agency renewal written premiums		$	489		$	488		$	557		$	514		$	502		$	552		$	588		$	1,045		$	1,140		$	1,535		$	1,642			$	2,156
Agency new business written premiums			76			79			76			83			77			87			66			155			153			231			229				312
Ceded written premiums			(32	)		(32	)		(31	)		(23	)		(46	)		(31	)		(32	)		(64	)		(63	)		(96	)		(109	)			(131	)
Other written premiums			2			1			1			(9	)		13			1			—			3			1			4			14				4
Written premium adjustment — statutory			(6	)		(12	)		23			(13	)		(8	)		(12	)		3			11			(9	)		4			(17	)			(30	)
Reported written premiums — statutory*		$	528		$	524		$	626		$	552		$	538		$	597		$	625		$	1,149		$	1,222		$	1,678		$	1,759			$	2,311
Unearned premium change			27			32			(69	)		21			44			(11	)		(51	)		(37	)		(61	)		(11	)		(16	)			5
Earned premiums		$	555		$	556		$	557		$	573		$	582		$	586		$	574		$	1,112		$	1,161		$	1,667		$	1,743			$	2,316
Year over year change %
Agency renewal written premiums			(2.5	)%		(11.6	)%		(5.2	)%		(5.9	)%		(7.7	)%		(2.9	)%		(4.0	)%		(8.3	)%		(3.5	)%		(6.5	)%		(4.8	)%			(5.1	)%
Agency new business written premiums			(0.4	)		(8.9	)		14.9			16.2			6.0			21.2			(8.3	)		1.4			6.4			0.8			6.3				8.8
Ceded written premiums			(29.2	)		3.2			0.2			(33.0	)		43.6			(1.6	)		2.8			1.7			0.6			(11.4	)		15.1				2.4
Other written premiums			(88.4	)		49.2		nm				(391.7	)		250.5			(73.4	)		(99.4	)		227.4			(89.2	)		(70.3	)		25.0				(66.5	)
Written premium adjustment — statutory			(18.8	)		4.2			666.7			(45.8	)		(81.6	)		(900.0	)		(91.5	)		(216.7	)		(124.3	)		(123.5	)		161.7				(1.6	)
Reported written premiums — statutory*			(1.8	)		(12.2	)		0.1			(1.9	)		(1.2	)		(2.7	)		(9.8	)		(5.9	)		(6.5	)		(4.7	)		(4.9	)			(4.2	)
Statutory combined ratio
Statutory combined ratio			94.9	%		112.0	%		99.0	%		99.0	%		97.3	%		97.5	%		93.3	%		105.4	%		95.5	%		101.8	%		95.9	%			96.6	%
Contribution from catastrophe losses			(1.2	)		10.2			2.5			(1.5	)		4.0			11.3			3.9			6.4			7.7			3.8			6.4				4.5
Statutory combined ratio excluding catastrophe losses			96.1	%		101.8	%		96.5	%		100.5	%		93.3	%		86.2	%		89.4	%		99.0	%		87.8	%		98.0	%		89.5	%			92.1	%
Commission expense ratio			20.3	%		18.1	%		16.4	%		20.8	%		18.1	%		16.9	%		16.5	%		17.2	%		16.7	%		18.2	%		17.1	%			18.0	%
Other expense ratio			15.3			14.4			12.8			15.7			15.4			10.9			13.2			13.5			12.1			14.0			13.1				13.7
Statutory expense ratio			35.6	%		32.5	%		29.2	%		36.5	%		33.5	%		27.8	%		29.7	%		30.7	%		28.8	%		32.2	%		30.2	%			31.7	%
GAAP combined ratio
GAAP combined ratio			92.4	%		110.9	%		102.2	%		98.1	%		94.9	%		99.9	%		95.0	%		106.6	%		97.4	%		101.9	%		96.6	%			97.0	%
Contribution from catastrophe losses			(1.2	)		10.2			2.5			(1.5	)		4.0			11.3			3.9			6.4			7.7			3.8			6.4				4.5
GAAP combined ratio excluding catastrophe losses			93.6	%		100.7	%		99.7	%		99.6	%		90.9	%		88.6	%		91.1	%		100.2	%		89.7	%		98.1	%		90.2	%			92.5	%

*	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.

2009 Third-Quarter Supplement 19

Consolidated Cincinnati Insurance Companies
Quarterly Property Casualty Data — Personal Lines

	Three months ended																						Six months ended						Nine months ended						Twelve months ended
(Dollars in millions)	12/31/09	9/30/09			6/30/09			3/31/09			12/31/08			9/30/08			6/30/08			3/31/08			6/30/09			6/30/08			9/30/09			9/30/08			12/31/09	12/31/08
Premiums
Agency renewal written premiums		$	177		$	176		$	137		$	156		$	185		$	186		$	146		$	313		$	332		$	490		$	517			$	672
Agency new business written premiums			21			19			14			11			11			10			8			34			19			55			30				42
Ceded written premiums			(9	)		(7	)		(7	)		(8	)		(13	)		(6	)		(6	)		(15	)		(12	)		(24	)		(26	)			(33	)
Other written premiums			1			1			1			—			1			1			2			2			2			3			4				4
Written premium adjustment — statutory			—			—			—			—			—			—			—			—			—			—			—				—
Reported written premiums — statutory*		$	190		$	191		$	145		$	158		$	184		$	191		$	150		$	334		$	341		$	524		$	525			$	685
Unearned premium change			(20	)		(19	)		26			13			(17	)		(17	)		27			9			10			(11	)		(7	)			4
Earned premiums		$	170		$	172		$	171		$	171		$	167		$	174		$	177		$	343		$	351		$	513		$	518			$	689
Year over year change %
Agency renewal written premiums			(4.7	)%		(5.3	)%		(6.0	)%		(2.3	)%		(1.6	)%		(3.3	)%		(2.8	)%		(5.6	)%		(3.1	)%		(5.3	)%		(2.5	)%			(2.5	)%
Agency new business written premiums			90.9			85.0			67.2			17.7			11.9			7.7			(0.5	)		76.9			3.9			82.0			6.7				9.5
Ceded written premiums			(35.9	)		20.2			23.1			7.0			61.4			(17.3	)		(17.2	)		21.6			(17.3	)		(8.5	)		11.0				10.1
Other written premiums			(30.4	)		128.2			(50.0	)		(64.9	)		(37.3	)		(76.2	)		(0.4	)		(7.6	)		(43.3	)		(16.0	)		(41.3	)			(45.4	)
Written premium adjustment — statutory			0.0			0.0			0.0			(100.0	)		(100.0	)		0.0			(100.0	)		0.0			(100.0	)		0.0			(100.0	)			(100.0	)
Reported written premiums — statutory*			3.2			(0.4	)		(3.5	)		(1.4	)		(4.0	)		(3.0	)		(2.0	)		(1.8	)		(2.6	)		(0.1	)		(3.1	)			(2.7	)
Statutory combined ratio
Statutory combined ratio			102.8	%		130.5	%		123.9	%		102.1	%		120.6	%		114.3	%		110.8	%		126.8	%		112.2	%		118.7	%		114.9	%			111.6	%
Contribution from catastrophe losses			7.9			35.4			22.6			(4.1	)		23.8			27.0			11.6			29.0			19.3			22.0			20.7				14.5
Statutory combined ratio excluding catastrophe losses			94.9	%		95.1	%		101.3	%		106.2	%		96.8	%		87.3	%		99.2	%		97.8	%		92.9	%		96.7	%		94.2	%			97.1	%
Commission expense ratio			19.1	%		18.0	%		22.5	%		21.2	%		16.4	%		18.6	%		22.3	%		20.0	%		20.2	%		19.6	%		18.9	%			19.5	%
Other expense ratio			10.4			11.7			12.9			15.0			14.0			10.3			11.8			12.2			11.0			11.6			12.0				12.7
Statutory expense ratio			29.5	%		29.7	%		35.4	%		36.2	%		30.4	%		28.9	%		34.1	%		32.2	%		31.2	%		31.2	%		30.9	%			32.2	%
GAAP combined ratio
GAAP combined ratio			102.3	%		133.2	%		120.7	%		100.0	%		122.5	%		115.3	%		110.1	%		126.9	%		112.7	%		118.7	%		115.9	%			111.9	%
Contribution from catastrophe losses			7.9			35.4			22.6			(4.1	)		23.8			27.0			11.6			29.0			19.3			22.0			20.7				14.5
GAAP combined ratio excluding catastrophe losses			94.4	%		97.8	%		98.1	%		104.1	%		98.7	%		88.3	%		98.5	%		97.9	%		93.4	%		96.7	%		95.2	%			97.4	%

*	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.

2009 Third-Quarter Supplement 20

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)	2009			2008			Change			% Change			2009			2008			Change			% Change
Net premiums written	$	109		$	42		$	67			157.2		$	228		$	129		$	99			76.9
Net investment income		32			30			2			7.3			93			88			5			5.2
Amortization of interest maintenance reserve		(2	)		(1	)		(1	)		(110.1	)		(5	)		(1	)		(4	)		(275.9	)
Commissions and expense allowances on reinsurance ceded		2			2			—		nm				5			6			(1	)		(11.4	)
Income from fees associated with Separate Accounts		—			—			—		nm				1			1			—		nm
Total revenues	$	141		$	73		$	68			92.8		$	322		$	223		$	99			44.3
Death benefits and matured endowments	$	14		$	13		$	1			4.9		$	42		$	34		$	8			24.5
Annuity benefits		6			8			(2	)		(29.7	)		22			22			—		nm
Disability benefits and benefits under accident and health contracts		—			1			(1	)		(29.5	)		2			2			—		nm
Surrender benefits and group conversions		4			5			(1	)		(26.8	)		15			17			(2	)		(13.3	)
Interest and adjustments on deposit-type contract funds		3			3			—		nm				8			9			(1	)		(6.0	)
Increase in aggregate reserves for life and accident and health contracts		97			25			72			295.3			183			77			106			138.6
Payments on supplementary contracts with life contingencies		—			—			—		nm				—			—			—			—
Total benefit expenses	$	124		$	55		$	69			125.4		$	272		$	161		$	111			68.5
Commissions	$	12		$	8		$	4			49.9		$	30		$	24		$	6			24.2
General insurance expenses and taxes		9			10			(1	)		(7.3	)		27			29			(2	)		(6.7	)
Increase in loading on deferred and uncollected premiums		(2	)		(1	)		(1	)		(126.9	)		(4	)		(3	)		(1	)		(38.0	)
Net transfers to or (from) Separate Accounts		(2	)		—			(2	)	nm				(4	)		—			(4	)	nm
Other deductions		—			—			—			—			—			—			—			—
Total operating expenses	$	17		$	17		$	—			2.0		$	49		$	50		$	(1	)		(2.1	)
Federal and foreign income taxes incurred		(1	)		9			(8	)	nm				(5	)		20			(25	)	nm
Net gain from operations before realized capital gains or (losses)	$	1		$	(7	)	$	8		nm			$	6		$	(8	)	$	14		nm
Net realized gains or (losses) net of capital gains tax		—			(25	)		25			99.5			(7	)		(40	)		33			81.3
Net income (loss) (statutory)	$	1		$	(33	)	$	32		nm			$	(1	)	$	(48	)	$	47			97.4

*	Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
*	Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of InsuranceCommissioners and filed with the appropriate regulatory bodies.

2009 Third-Quarter Supplement 21