Cincinnati Financial Corporation · NASDAQ:CINF
Cincinnati Financial — Shareholder Meeting (May 2025)
26 slides from Cincinnati Financial's shareholder meeting presentation, May 3, 2025
Slide 1: Annual Shareholders' Meeting May 3, 2025
Annual May 3, 2025 Shareholders’ Meeting A Bridge to Better Since 1950 © 2025 Cincinnati Financial Corporation. All rights reserved. Do not reproduce or post online, in whole or in part, without written permission.
Slide 2: Steve Johnston, Chairman of the Board
Steve Johnston Chairman of the Board A Bridge to Better Since 1950 2
Slide 3: Business of the Meeting
Business of the Meeting A Bridge to Better Since 1950 3
Slide 4: Director Nominees
Director Nominees N.C. Benacci L.W. Clement- D.J. Debbink S.J. Johnston J.P. Meyer D.P. Osborn G.W. Schar KeyBanc Capital Holmes MSI General Cincinnati Financial The O.H.I.O. Fund Osborn Williams Arbonne Markets (Ret.) The Procter & Gamble Corporation Corporation & Donohoe LLC International LLC Comp
Slide 5: Cincinnati Financial Officers
Cincinnati Financial Officers Steve Johnston Steve Spray Chairman of the Board President and Chief Executive Officer Mike Sewell Tom Hogan Chief Financial Officer, Principal Chief Legal Officer, Executive Vice President Accounting Officer, Executive and Corporate Secretary Vice President and Treasur
Slide 6: Welcome Shareholders
Welcome Shareholders Company officers and associates Deloitte & Touche LLP Retired directors, officers and associates Special guests A Bridge to Better Since 1950 6
Slide 7: Business of the Meeting
Business of the Meeting A Bridge to Better Since 1950 7
Slide 8: Safe Harbor Statement
Safe Harbor Statement This presentation, including associated remarks, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). We intend for the safe harbor provisions of the PSLRA to cover all forward-looking statements. Actual resul
Slide 9: Steve Spray, President and CEO
Steve Spray President and CEO As we celebrate 75 years of being A Bridge to Better, we honor our legacy of putting people first and our commitment to meeting the ever-evolving needs of agents and policyholders.
Slide 10: A Bridge to Better Since 1950
View video here. A Bridge to Better Since 1950 10
Slide 11: Agents
“Agents Overwhelming Claims Service Empowered Field Associates Headquarters Support Financial Strength Ethical Behavior
Slide 12: P&C Net Written Premium Growth
P&C Net Written Premium Growth Cincinnati Weighted Peer Average Industry Average 14.9% 13.0% 12.8% 10.5% 8.8% 10.7% 10.1% 10.1% 11.4% 8.7% 8.7% 8.4% 6.3% 2.7% 2.5% 2020 2021 2022 2023 2024 Source: Individual company filings Industry data from S&P Global Market Intelligence 2023 & 2024 Industry estim
Slide 13: Combined Ratio
Combined Ratio Cincinnati (GAAP) Weighted Peer Average Industry Average (STAT) 103.7% 98.1% 95.5% 98.6% 101.8% 98.1% 100.7% 102.7% 101.0% 97.1% 96.6% 94.9% 93.4% 96.0% 88.3% 2020 2021 2022 2023 2024 Source: Individual company filings Industry data from S&P Global Market Intelligence 2023 & 2024 Indu
Slide 14: Flexibility to Invest
Flexibility to Invest P&C Statutory Surplus CFC Shareholders' Equity ($ Billions) $13.935 $12.764 $12.098 $10.789 $10.562 $8.603 $7.247 $6.512 $7.292 $5.838 2020 2021* 2022* 2023 2024 *CFC Shareholders’ Equity adjusted due to the adoption of LDTI accounting standards effective 1/1/2023 A Bridge to B
Slide 15: Growing Expertise and Products
Growing Expertise and Products Cincinnati Cincinnati Commercial Specialty Private Lines Key Cincinnati Specialty Underwriters Client Accounts Underwriters – PLD 2011 2015 2019 2022 2007 2014 2016 2020 Predictive Cincinnati Cincinnati Small Business Analytics Re Global and Leveraging & Risk Underwrit
Slide 16: Diversifying Revenue
Diversifying Revenue Net Written Premiums by Operating Unit CL PL CLIC E&S CRE CGU ($ Millions) $9,605 $8,410 $7,646 $6,825 $6,192 2020 2021 2022 2023 2024 A Bridge to Better Since 1950 16
Slide 17: Returning Capital to Shareholders
Returning Capital to Shareholders 64 Consecutive years of dividend increases Cash dividends declared per common share $3.24 $3.48 $2.76 $3.00 $2.40 $2.52 2020 2021 2022 2023 2024 2025* *Indicated dividend increase A Bridge to Better Since 1950 17
Slide 18: Measuring Our Performance
Measuring Our Performance Long-term goal: 10-13% annual average value creation ratio Annual VCR 5-Year Average VCR 30.0% 25.7% 20.0% 25.0% 18.7% 18.0% 16.5% 19.5% 19.8% 20.0% 16.0% 15.0% 14.7% 15.2% 14.0% 10.0% 13.0% 12.0% 5.0% 11.2% 10.0% 0.0% 8.0% -5.0% 6.0% -10.0% 4.0% -15.0% 2.0% -20.0% (14.6%)
Slide 19: Long-Term Total Shareholder Return
Long-Term Total Shareholder Return $1 investment in CINF at year-end 1987 has grown faster than $1 in the S&P 500 Index CINF Value Creation Ratio S&P 500 with Dividends Included $130 $120 $110 $119.59 $100 $90 $93.40* $80 $70 $60 $50 $40 $49.68 $30 $20 $10 $0 *VCR data is as of the latest earnings r
Slide 20: First-Quarter 2025 Highlights
First-Quarter 2025 Highlights P&C Net Written Combined Ratio Value Creation Premium Growth Ratio 11% 113.3% -0.5% Benefiting from strong new Including 25 points from catastrophes, business and pricing more than 3X our 10-year avg. First-quarter 2024: 11.4% First-quarter 2024: 93.6% First-quarter 202
Slide 21: Structured for the Future
Structured for the Future Sean Givler By channeling our company’s Executive Vice President Commercial and Life Insurance talent and resources, we can continue building for the future. Will Van Den Heuvel Executive Vice President Specialty and Personal Insurance A Bridge to Better Since 1950 21
Slide 22: Learn More About Our History
Learn More About Our History “Our primary purpose is to create a company sponsored by excellent agents and one that would build the relationship of partnership with the agents.” – Jack Schiff, Sr., Company Founder Visit cinfin.com/anniversary A Bridge to Better Since 1950 22
Slide 23: Equiniti Trust Company
Equiniti Trust Company • Provides the company’s stock transfer and recordkeeping services • Converts paper certificates to electronic shares • Updates account information • Enrolls in shareholder plans Contact Information: 866-638-6443 or shareowneronline.com A Bridge to Better Since 1950 23
Slide 24: Business of the Meeting
Business of the Meeting A Bridge to Better Since 1950 24
Slide 25: A Bridge to Better Since 1950
A Bridge to Better Since 1950 25
Slide 26: Annual Shareholders' Meeting May 3, 2025
Annual May 3, 2025 Shareholders’ Meeting A Bridge to Better Since 1950 © 2025 Cincinnati Financial Corporation. All rights reserved. Do not reproduce or post online, in whole or in part, without written permission.
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