Cincinnati Financial Corporation
cinfin.comWhat Do They Do?
Provides property and casualty insurance for people and businesses through independent agencies, and also sells life insurance and fixed annuities.
10-K for FY2025, filed Feb 23, 2026We are an Ohio corporation formed in 1968. Our lead subsidiary, The Cincinnati Insurance Company, was founded in 1950. Our main business is…View ↗
The Cincinnati Insurance Company owns 100% of four additional insurance subsidiaries. Our standard market property casualty insurance group…View ↗
At year-end 2025, a select group of independent agencies in 46 states actively marketed our property casualty insurance within their…View ↗
How Do They Make Money?
Insurance operations earn premiums from property, casualty, life and reinsurance policies; the investment portfolio generates interest from bonds and dividends from stocks, with gains also coming from changes in asset values or sales.
10-K for FY2025, filed Feb 23, 2026
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10-K for FY2025, filed Feb 23, 2026
FY2025 revenue by reportable segment ↗
$12.6B
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10-K for FY2025, filed Feb 23, 2026
$12.6B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Commercial Insurance
Recurring
10-K for FY2025, filed Feb 23, 2026 |
39%
FY2022: 61%
|
Commercial Insurance, FY2025
$4.9B Sources
|
Recurring |
|
Personal Insurance
Recurring
10-K for FY2025, filed Feb 23, 2026 |
25%
FY2022: 26%
|
Personal Insurance, FY2025
$3.2B Sources
|
Recurring |
|
Excess and Surplus Lines Insurance
Recurring
|
5.6%
FY2022: 7.4%
|
Excess and Surplus Lines Insurance, FY2025
$702M Sources
|
Recurring |
|
Life Insurance Segment
Recurring
|
2.7%
FY2022: 4.7%
|
Life Insurance Segment, FY2025
$336M Sources
|
Recurring |
|
Investments Segment
Recurring
10-K for FY2025, filed Feb 23, 2026 |
21%
FY2022: −10%
|
Investments Segment, FY2025
$2.6B Sources
|
Recurring |
Who Are Their Customers?
People and businesses buy property and casualty coverage through independent agencies. Life insurance also reaches customers through those agencies and other independent life agencies, while reinsurance and global specialty business is marketed through brokers and coverholders.
10-K for FY2025, filed Feb 23, 2026The Cincinnati Insurance Company was founded by four independent insurance agents and 2025 marked 75 years in business. They established…View ↗
At year-end 2025, a select group of independent agencies in 46 states actively marketed our property casualty insurance within their…View ↗
Our associates work to support agencies with tools and resources that help communicate the value of choosing an independent insurance agent…View ↗
The specialized nature of our other insurance operations helps avoid conflicts with the independent agency distribution channel. Cincinnati…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 19 cents of every revenue dollar as net income in FY2025 and turned 24 cents into free cash flow.
How Are They Changing?
10-Q for Q3 FY2026, filed Oct 26, 2026
Open tableView ↗
Growing. Revenue grew 31% in 4 years, from $9.6B in FY2021 to $12.6B in FY2025, about 7% a year.
Wider commercial availability
The earlier report described commercial policies as marketed in fewer states; the latest describes broader availability and adds California for commercial excess and surplus lines.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 23, 2026At year-end 2022, a select group of independent agencies in 46 states actively marketed our property casualty insurance within their…View ↗
At year-end 2025, a select group of independent agencies in 46 states actively marketed our property casualty insurance within their…View ↗
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