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.
Kentucky Scrapyard Workers Describe UPS Plane Crash That Destroyed Their Business 
Single Loose Wire Led to Blackout That Caused Dali Crash Into Baltimore Bridge 
NFIP Reauthorized With Passage of Funding Bill to End Government Shutdown 
Nonstandard Auto Insurers Continue Profit Momentum in 2025: AM Best 
