---
schema_version: "secwatch.filing_event.v1"
accession: "0000020286-22-000065"
form_type: "8-K"
ticker: "CINF"
cik: "0000020286"
company_name: "CINCINNATI FINANCIAL CORP"
filed_at: "2022-10-31T23:59:59+00:00"
generated_at: "2026-06-22T21:58:20.589739+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cincinnati Financial reports Q3 net loss of $418M vs net income of $153M a year ago

## Summary
- Net loss of $418M ($2.64 diluted) vs net income of $153M ($0.94) in Q3 2021, driven by $557M after-tax reduction in equity securities fair value.
- Non-GAAP operating income fell 45% to $114M ($0.73) from $209M ($1.28); earned premiums up 13% to $1.882B.
- Book value per share decreased to $60.01 from $73.49 at year-end 2021; nine-month value creation ratio negative 24%.
- Cash dividend declared $0.69 per share, up 10% from $0.63 in Q3 2021.
- After-tax property casualty underwriting income decreased $114M year-over-year.

## SEC filing metadata
- accession: 0000020286-22-000065
- form_type: 8-K
- ticker: CINF
- cik: 0000020286
- company_name: CINCINNATI FINANCIAL CORP
- filed_at: 2022-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/20286/000002028622000065/0000020286-22-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20286/000002028622000065/cinf-20221031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000020286-22-000065
- JSON: https://secwatch.observer/filing/0000020286-22-000065.json
- Plain text: https://secwatch.observer/filing/0000020286-22-000065.txt

## Key facts
- Earnings Releases
  CINCINNATI FINANCIAL CORP reported Three months ended September 30, 2022 results: revenue 1,408, net income ($418), EPS ($2.64).
  - Period: Three months ended September 30, 2022
  - Revenue: 1,408
  - Net income: ($418)
  - EPS: ($2.64)
  - Result: reported results
  source text: Financial Highlights (Dollars in millions, except per share data) Three months ended September 30, Nine months ended September 30, 2022 2021 % Change 2022 2021 % Change Revenue Data Earned premiums $ 1,882 $ 1,669 13 $ 5,345 $ 4,806 11 Investment income, net of expenses 193 179 8 573 528 9 Total revenues 1,408 1,785 (21) 3,443 6,307 (45) Income Statement Data Net income (loss) $ (418) $ 153 nm $ (1,499) $ 1,476 nm Investment gains and losses, after-tax (532) (56) nm (1,970) 753 nm Non-GAAP operating income* $ 114 $ 209 (45) $ 471 $ 723 (35) Per Share Data (diluted) Net income (loss) $ (2.64) $ 0.94 nm $ (9.41) $ 9.07 nm Investment gains and losses, after-tax (3.37) (0.34) nm (12.37) 4.63 nm Non-GAAP operating income* $ 0.73 $ 1.28 (43) $ 2.96 $ 4.44 (33)
  evidence_url: https://www.sec.gov/Archives/edgar/data/20286/000002028622000065/0000020286-22-000065-index.htm
- Earnings Releases
  CINCINNATI FINANCIAL CORP reported Nine months ended September 30, 2022 results: revenue 3,443, net income ($1,499), EPS ($9.41).
  - Period: Nine months ended September 30, 2022
  - Revenue: 3,443
  - Net income: ($1,499)
  - EPS: ($9.41)
  - Result: reported results
  source text: Financial Highlights (Dollars in millions, except per share data) Three months ended September 30, Nine months ended September 30, 2022 2021 % Change 2022 2021 % Change Revenue Data Earned premiums $ 1,882 $ 1,669 13 $ 5,345 $ 4,806 11 Investment income, net of expenses 193 179 8 573 528 9 Total revenues 1,408 1,785 (21) 3,443 6,307 (45) Income Statement Data Net income (loss) $ (418) $ 153 nm $ (1,499) $ 1,476 nm Investment gains and losses, after-tax (532) (56) nm (1,970) 753 nm Non-GAAP operating income* $ 114 $ 209 (45) $ 471 $ 723 (35) Per Share Data (diluted) Net income (loss) $ (2.64) $ 0.94 nm $ (9.41) $ 9.07 nm Investment gains and losses, after-tax (3.37) (0.34) nm (12.37) 4.63 nm Non-GAAP operating income* $ 0.73 $ 1.28 (43) $ 2.96 $ 4.44 (33)
  evidence_url: https://www.sec.gov/Archives/edgar/data/20286/000002028622000065/0000020286-22-000065-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.