Cincinnati Financial Corp. today reported second-quarter profit of $123 million.
Second-quarter 2016 net income of $123 million compared with $176 million in the second quarter of 2015.
That $53 million decrease reflects “the after-tax net effect of two primary items: $47 million reduction in the contribution from property casualty underwriting, including an unfavorable effect from natural catastrophe losses that were $56 million more for second-quarter 2016 compared with the same quarter a year ago; and a $10 million decrease in net realized investment gains,” according to the company.
Income for the first half of 2016 of $311 million compared with $304 million the first half of 2015.
Cincinnati Financial, Butler County’s second largest employer, offers business, home and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies.