A.M. Best Revises Issuer Credit Rating Outlook to Positive for Cincinnati Financial Corporation and Its Subsidiaries
The Credit Ratings (ratings) reflect CIC’s balance sheet strength, which
The positive rating factors are partially offset by the variability in CIC’s earnings in certain lines of business, particularly its personal and commercial auto lines of business. The group continues to address the below-average performance on these lines of business and has recognized the need for re-underwriting, which includes rate increases and improving pricing precision, aided by utilization of predictive analytics. Additionally, CIC maintains high common stock leverage relative to its peers. While the stock holdings consist of diversified dividend-paying stocks that enhance investment income, they expose risk-adjusted capitalization to equity market fluctuations.
The revised outlooks reflect CIC’s continued improvement in underwriting and operating performance while maintaining the strongest level of risk-adjusted capitalization, as well as A.M. Best’s expectation that management’s recent underwriting initiatives will result in sustained improvement in underwriting and operating results.
The ratings of CLIC reflect its balance sheet strength, which
The following Long-Term IRs have been affirmed with the outlook revised to positive from stable:
Cincinnati Financial Corporation—
-- “a-” on
-- “a-” on
-- “a-” on
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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