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Why Shares of Cincinnati Financial Are Falling Today

TheMotleyFool

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Why Shares of Cincinnati Financial Are Falling TodayPhoto, wide shot, wide-angle lens, soft focus, Reinsurance company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-bSRc7PrRT00tZTDNf9SggMTD.png?st=2023-05-06T18%3A48%3A49Z&se=2023-05-06T20%3A48%3A49Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-06T00%3A38%3A49Z&ske=2023-05-07T00%3A38%3A49Z&sks=b&skv=2021-08-06&sig=3seGuy7NQJX9RXUOWr6XArANokWXlKqwnEJxEHfdbSY%3D

Shares of the property and casualty insurer Cincinnati Financial (NASDAQ: CINF) had fallen more than 13% as of 10:50 a.m. ET today after the company reported earnings results for the year's second quarter.

Cincinnati Financial reported adjusted earnings per share of $0.65 on total revenue of $820 million for the second quarter of the year; both numbers fell short of analyst estimates.

While earned premiums of $1.77 billion were up year over year, the company took an underwriting loss of $52 million in the quarter compared to a $221 million gain one year ago.

Source Fool.com

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