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CINF

Cincinnati Financial

$71.98

-0.99 (-1.36%)

14:05
10/12/18
10/12
14:05
10/12/18
14:05

Cincinnati Financial sees Q3 pretax catastrophe losses about $120M from storms

Cincinnati Financial announced that The Cincinnati Insurance Companies' property casualty group expects its third-quarter results to include pretax catastrophe losses of approximately $120M, representing an impact on the Q3 combined ratio of approximately 9.5 to 10.0 percentage points, based on estimated property casualty earned premiums. The company's 10-year historical average contribution of catastrophe losses to the combined ratio is 5.6 percentage points for the third quarter. "Losses from natural catastrophe events affect property casualty insurance underwriting income, one of the sources of consolidated net income along with profits from investment operations and life insurance operations," the company said. The company estimates its Q3 property casualty combined ratio will be in the range of 96%-98%, including the effect of catastrophe losses. The ratio also reflects net favorable reserve development on prior accident years for the company's commercial casualty line of business. The company also announced that Hurricane Michael is expected to impact fourth-quarter 2018 results, but that it currently cannot predict the magnitude, as many damaged areas are not yet accessible. Based on initial claims reports received, most of the claims covered by the company's standard market lines business are for personal lines accounts with nearly half located in Georgia and approximately one-quarter in Alabama.

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CINF Cincinnati Financial
$71.98

-0.99 (-1.36%)

08/07/18
FBCO
08/07/18
INITIATION
Target $70
FBCO
Underperform
Cincinnati Financial initiated with an Underperform at Credit Suisse
Credit Suisse analyst Michael Zaremski started Cincinnati Financial with an Underperform rating and $70 price target. While the analyst is confident the company's long-term growth prospects are superior to publicly traded peers, he feels that near-term reserve release levels will disappoint owing to a combination of meaningfully less workers' comp. exposure versus peers, diminishing benefits from moving to new reserving models in the E&S segment; and continued commercial auto headwinds.

TODAY'S FREE FLY STORIES

UNH

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0.5 (0.16%)

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UNH

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ANTM

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MGLN

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XEL

Xcel Energy

$53.90

0.12 (0.22%)

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AMAG

Amag Pharmaceuticals

$15.83

-0.19 (-1.19%)

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INST

Instructure

$40.82

-1.75 (-4.11%)

12:44
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ACET

Aceto

$0.42

-0.625 (-59.81%)

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Aceto receives Nasdaq notice due to delay in filing Form 10-Q »

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TSM

TSMC

$39.24

0.77 (2.00%)

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HMHC

Houghton Mifflin

$8.94

0.52 (6.18%)

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EA

Electronic Arts

$99.25

-3.73 (-3.62%)

, ATVI

Activision Blizzard

$43.82

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EA

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ATVI

Activision Blizzard

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TTWO

Take-Two

$89.77

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NTDOY

Nintendo

$0.00

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MSFT

Microsoft

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SNE

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TCEHY

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$0.00

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CCOEY

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OSPN

OneSpan

$20.13

3.355 (20.00%)

12:33
02/20/19
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12:33
Downgrade
OneSpan rating change  »

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03/08/13
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OSPN

OneSpan

$20.21

3.435 (20.48%)

12:28
02/20/19
02/20
12:28
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12:28
Downgrade
OneSpan rating change  »

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KMI

Kinder Morgan

$19.20

0.05 (0.26%)

12:27
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12:27
Hot Stocks
Kinder Morgan Chairman Richard Kinder buys over 19K shares of company stock »

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NYT

New York Times

$32.02

0.06 (0.19%)

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RTTR

Ritter Pharmaceuticals

$0.66

-0.0104 (-1.55%)

12:25
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Conference/Events
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  • 20

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ZNGA

Zynga

$5.09

-0.01 (-0.20%)

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HSY

Hershey

$109.97

0.275 (0.25%)

12:19
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Earnings
Hershey issues long-term adjusted EPS growth target of 6%-8% »

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MCS

Marcus

$40.59

1 (2.53%)

12:18
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Hot Stocks
Marcus raises quarterly dividend 6.7% to 16c per share »

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HSY

Hershey

$109.95

0.255 (0.23%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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Technical Analysis
NYSE market internals summary »

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12:15
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General news
FX Action: USD-JPY »

FX Action: USD-JPY has…

CVS

CVS Health

$64.92

-5 (-7.15%)

, TSLA

Tesla

$302.25

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On The Fly
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CVS

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TSLA

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BMY

Bristol-Myers

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CELG

Celgene

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KNDI

Kandi Technologies

$8.45

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GRMN

Garmin

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NVTA

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OMI

Owens & Minor

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WIX

Wix.com

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CXO

Concho Resources

$114.44

-6.51 (-5.38%)

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HSY

Hershey

$110.01

0.315 (0.29%)

12:09
02/20/19
02/20
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12:09
Hot Stocks
Hershey reaffirms 2019 guidance at CAGNY Conference »

Hershey said that in a…

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KNX

Knight-Swift

$34.96

0.73 (2.13%)

12:05
02/20/19
02/20
12:05
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12:05
Options
Knight Transportation call volume above normal and directionally bullish »

Bullish option flow…

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12:05
02/20/19
02/20
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General news
U.S. corporate bond update: the calendar remains active. »

U.S. corporate bond…

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