-
31st state of operations for regional insurer -
Additional agencies to be appointed in new Utah territory
Cincinnati, April 27, 2000—Cincinnati Financial
Corporation (Nasdaq: CINF)—The Cincinnati Insurance Companies launched
operations in Utah today. Executives met at the Company’s headquarters with
Craig Smith, chief operating officer of the first independent agency from that
state appointed to represent Cincinnati Financial Corporation’s insurance
subsidiaries.
Fred A. Moreton & Company has been selected to bring
Cincinnati’s property/casualty insurance products to business customers in the
Salt Lake City area.
Senior Vice President of Sales & Marketing J.F. Scherer commented, "Our field marketing representative, Brent Burton, is working from Riverton, Utah, to open the new marketing territory serving Utah. He is screening interested agencies to select those with the highest professional standards, compatible philosophies and good marketing plans. Cincinnati plans to appoint four to six more Utah agencies this year."
Fortune (April 17, 2000) ranks Cincinnati among the top 20 publicly traded property and casualty insurers, with total revenues above $2.1 billion. Operations began in Ohio in 1950 and now extend to 31 states, primarily in the Midwest and South. Currently 977 independent agencies have Cincinnati appointments. Cincinnati’s strong relationship with these agencies generally results in Cincinnati becoming a lead carrier for each new agency within a few years.
Scherer commented, "As we expand geographically, we carefully research regulatory and market conditions. But our consistently strong performance through all kinds of markets is due first and foremost to the depth of our relationship and service commitment to local independent agents. We plan a great partnership with Fred A. Moreton & Company. Together, we’ll expand the choices available to quality-minded business insurance customers in their community."
Cincinnati Financial Corporation offers property and casualty insurance, our main business, through The Cincinnati Insurance Company, The Cincinnati Casualty Company and The Cincinnati Indemnity Company. The Cincinnati Life Insurance Company markets life, health, long term care and accident insurance. CFC Investment Company supports the insurance subsidiaries and their independent agent representatives through leasing financing activities. CinFin Capital Management provides investment management services to institutions, corporations and individuals. For additional information, please visit our Web site at www.cinfin.com.