Cincinnati Financial Corp. said profit in the second-quarter rose nearly 2 percent, as lower catastrophe losses helped the company surpass analyst estimates.
But catastrophe losses are typically worst during the third quarter, and the Fairfield, Ohio-based insurer expects $11 million of losses during the quarter from the recent Hurricane Dennis.
Total revenue reached $940 million for the quarter, up from $923 million in second-quarter 2004.
Net income rose to $158 million, or 89 cents a share, from $155 million, or 89 cents a share a year ago. Operating income was 84 cents a share, exclusing investment gains and losses, up from 67 cents a share. Analysts had expected earnings of 68 cents a share in the quarter, according to estimates.
The company had $15 million of catastrophe losses during the quarter, compared with $46 million of losses last year.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
Nine-Month 2025 Results Show P/C Underwriting Gain Skyrocketed 
Pipeline Explodes at Delfin LNG Planned Project in Louisiana 
