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Cincinnati Financial net income rises 83% to $1.26 billion in Q2 2026
Earned premiums increased 6% to $2.64 billion, but the property and casualty combined ratio slipped to 100.8%.
Cincinnati Financial Corporation reported second-quarter 2026 net income of $1.255 billion, up 83% from $685 million a year earlier, after recognizing an after-tax increase of $882 million in the fair value of equity securities the company still held.
The insurer said investment results supported the quarter, with after-tax net investment gains up $657 million and investment income up $28 million, partially offset by a $115 million decrease in property and casualty underwriting profit. Cincinnati’s non-GAAP operating income fell to $224 million, down 28% from $311 million, as a $61 million unfavorable effect from higher after-tax catastrophe losses weighed on results.
For the quarter, earned premiums rose 6% to $2.64 billion and total revenues climbed 32% to $4.27 billion. The property and casualty combined ratio increased to 100.8% from 94.9%, leaving the operations with an underwriting loss of $18 million versus a $128 million profit in the prior-year quarter.
Cincinnati also reported property and casualty earned premiums up 6% to $2.55 billion, net written premiums up 3% to $2.83 billion, and new business written premiums down 13% to $353 million. The company attributed the combined ratio uptick to elevated catastrophe losses, noting Ohio was particularly impacted by bad weather in spring, with catastrophe losses nearly four times its five-year second-quarter average for the state, according to Reinsurance News.