SEC Filing | Cincinnati Financial Corporation

View:


UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report: October 24, 2007 (Date of earliest event reported)

CINCINNATI FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)

Ohio	0-4604	31-0746871
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

6200 S. Gilmore Road, Fairfield, Ohio		45014-5141
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (513) 870-2000

N/A (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

Item 7.01 Regulation FD Disclosure

Beginning on October 24, 2007, Cincinnati Financial Corporation distributed the attached information titled “Supplemental Financial Data,” furnished as Exhibit 99.1 hereto and incorporated herein by reference. This report should not be deemed an admission as to the materiality of any information contained in the news release.

In accordance with general instruction B.2 of Form 8-K, the information furnished in this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(c)

Exhibits

Exhibit 99.1 – Supplemental Financial Data (September 30, 2007)

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	CINCINNATI FINANCIAL CORPORATION



Date: October 30, 2007	/s/ Kenneth W. Stecher
	Kenneth W. Stecher
	Chief Financial Officer, Executive Vice President, Secretary and Treasurer
	(Principal Accounting Officer)


Cincinnati Financial Corporation
Supplemental Financial Data
September 30, 2007
Third Quarter


		6200 South Gilmore Road
		Fairfield, Ohio 45014-5141
		www.cinfin.com/investors


Investor Contact:		Media Contact:		Shareholder Contact:
Heather J. Wietzel		Joan O. Shevchik		Jerry L. Litton
513-870-2768		513-603-5323		513-870-2639


Cincinnati Financial Corporation
		A.M. Best	Fitch	Moody’s	Standard & Poor’s

Corporate Debt		aa-	A+	A2	A

The Cincinnati Insurance Companies

		A.M. Best	Fitch	Moody’s	Standard & Poor’s

Property Casualty Group		A++	na	Aa3	AA-
The Cincinnati Insurance Company		A++	AA	Aa3	AA-
The Cincinnati Indemnity Company		A++	AA	Aa3	AA-
The Cincinnati Casualty Company		A++	AA	Aa3	AA-

The Cincinnati Life Insurance Company		A+	AA	na	AA-


	Ratings are as of October 24, 2007, under continuing review and subject to change and/or affirmation. For the latest ratings, select the Ratings tab on www.cinfin.com/investors.

	The consolidated financial statements and financial exhibits that follow are unaudited. These consolidated financial statements and exhibits should be read in conjunction with the consolidated financial statements and notes included in the Annual Report on Form 10-K for 2006. The results of operations for interim periods should not be considered indicative of results to be expected for the full year. Certain 2006 interim period data has been updated to correct rounding differences.


	Cincinnati Financial Corporation
	Supplemental Financial Data
	Third Quarter 2007
		Page	Status
	Definitions of Non-GAAP Information and Reconciliation to Comparable GAAP Measures	3	10/24/2007

Consolidated
	Quick Reference	4	10/24/2007
	Consolidated Statements of Income	5	10/24/2007
	CFC and Subsidiary Consolidation – Nine Months Ended September 30, 2007	6	10/24/2007
	CFC and Subsidiary Consolidation – Nine Months Ended September 30, 2006	7	10/24/2007
	CFC and Subsidiary Consolidation – Three Months Ended September 30, 2007	8	10/24/2007
	CFC and Subsidiary Consolidation – Three Months Ended September 30, 2006	9	10/24/2007
	Consolidated Balance Sheets	10	10/24/2007
	Quarterly Net Income Reconciliation	11	10/24/2007
	Top Holdings -- Common Stocks	12	10/24/2007
	Fifth Third Bancorp Holding	13	10/24/2007
	CFC Subsidiaries – Selected Balance Sheet Data	14	10/24/2007

Property Casualty Insurance Operations
	GAAP Statements of Income	15	10/24/2007
	Statutory Statements of Income	16	10/24/2007
	Statutory Quarterly Analysis – Consolidated	17	10/24/2007
	Statutory Quarterly Analysis – Commercial Lines	18	10/24/2007
	Statutory Quarterly Analysis – Personal Lines	19	10/24/2007
	Direct Written Premiums by Line of Business and State	20	10/29/2007
	Quarterly Property Casualty Data – Commercial Lines of Business	21	10/29/2007
	Quarterly Property Casualty Data – Personal Lines of Business	22	10/29/2007
	Quarterly Detailed Loss Analysis	23	10/29/2007

Reconciliation Data
	Quarterly Property Casualty Data – Consolidated	24	10/24/2007
	Quarterly Property Casualty Data – Commercial Lines	25	10/24/2007
	Quarterly Property Casualty Data – Personal Lines	26	10/24/2007

Life Insurance Operations
	GAAP Statements of Income	27	10/29/2007
	Statutory Statements of Income	28	10/29/2007
	Expenses as a Percentage of Premium	29	10/29/2007

Definitions of Non-GAAP Information and
Reconciliation to Comparable GAAP Measures

(See attached tables for 2007 and 2006 data; prior-period reconciliations available at www.cinfin.com/investors.)

Cincinnati Financial Corporation prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). Statutory data is prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual and therefore is not reconciled to GAAP data.

Management uses certain non-GAAP and non-statutory financial measures to evaluate its primary business areas – property casualty insurance, life insurance and investments – when analyzing both GAAP and certain non-GAAP measures may improve understanding of trends in the underlying business, helping avoid incorrect or misleading assumptions and conclusions about the success or failure of company strategies. Management adjustments to GAAP measures generally: apply to non-recurring events that are unrelated to business performance and distort short-term results; involve values that fluctuate based on events outside of management’s control; or relate to accounting refinements that affect comparability between periods, creating a need to analyze data on the same basis.

Operating income: Operating income is calculated by excluding net realized investment gains and losses (defined as realized investment gains and losses after applicable federal and state income taxes) from net income. Management evaluates operating income to measure the success of pricing, rate and underwriting strategies. While realized investment gains (or losses) are integral to the company’s insurance operations over the long term, the determination to realize investment gains or losses in any period may be subject to management’s discretion and is independent of the insurance underwriting process. Also, under applicable GAAP accounting requirements, gains and losses can be recognized from certain changes in market values of securities and embedded derivatives without actual realization. Management believes that the level of realized investment gains or losses for any particular period, while it may be material, may not fully indicate the performance of ongoing underlying business operations in that period.

For these reasons, many investors and shareholders consider operating income to be one of the more meaningful measures for evaluating insurance company performance. Equity analysts who report on the insurance industry and the company generally focus on this metric in their analyses. The company presents operating income so that all investors have what management believes to be a useful supplement to GAAP information.

Statutory accounting rules: For public reporting, insurance companies prepare financial statements in accordance with GAAP. However, insurers also must calculate certain data according to statutory accounting rules as defined in the NAIC’s Accounting Practices and Procedures Manual, which may be, and has been, modified by various state insurance departments. Statutory data is publicly available, and various organizations use it to calculate aggregate industry data, study industry trends and compare insurance companies.

Written premium: Under statutory accounting rules, property casualty written premium is the amount recorded for policies issued and recognized on an annualized basis at the effective date of the policy. Management analyzes trends in written premium to assess business efforts. Earned premium, used in both statutory and GAAP accounting, is calculated ratably over the policy term. The difference between written and earned premium is unearned premium.

Written premium adjustment – statutory basis only: In 2002, the company refined its estimation process for matching property casualty written premiums to policy effective dates, which added $117 million to 2002 written premiums. To better assess ongoing business trends, management may exclude this adjustment when analyzing trends in written premiums and statutory ratios that make use of written premiums.

2007 Third-Quarter Supplement


Cincinnati Financial Corporation
Quick Reference - Third Quarter 2007
(all data shown is for the three months ended or as of September 30, 2007)
(Based on reported data - see Pages 24-26 for adjusted data)

(Dollars in millions except share data)
Revenues:				Benefits and expenses:

Commercial lines net written premiums	$	544		Commercial lines loss and loss expenses	$	396
Year-over-year percentage change		(6.4)	%	Year-over-year percentage change		5.1	%
Personal lines net written premiums	$	192		Personal lines loss and loss expenses	$	128
Year-over-year percentage change		(3.1)	%	Year-over-year percentage change		(8.1)	%
Property casualty net written premiums	$	736		Property casualty loss and loss expenses	$	524
Year-over-year percentage change		(5.6)	%	Year-over-year percentage change		1.5	%
Commercial lines net earned premiums	$	600		Life and accident and health losses and policy benefits	$	36
Year-over-year percentage change		(0.3)	%	Year-over-year percentage change		9.8	%
Personal lines net earned premiums	$	177		Operating expenses	$	249
Year-over-year percentage change		(6.6)	%	Year-over-year percentage change		(3.0)	%
Property casualty net earned premiums	$	777		Interest expenses	$	13
Year-over-year percentage change		(1.8)	%	Year-over-year percentage change		(4.7)	%
Life and accident and health net earned premiums	$	34		Total expenses	$	822
Year-over-year percentage change		23.0	%	Year-over-year percentage change		0.3	%
Investment income	$	152		Income before income taxes	$	160
Year-over-year percentage change		5.8	%	Year-over-year percentage change		8.2	%
Realized gains on investments	$	16		Total income tax	$	36
Year-over-year percentage change		nm	%	Year-over-year percentage change		11.0	%
Other income	$	3		Effective tax rate		22.5	%
Year-over-year percentage change		(24.2)	%
Total revenues	$	982		Ratios:
Year-over-year percentage change		1.5	%
				Commercial lines GAAP combined ratio		95.4	%
Income:				Personal lines GAAP combined ratio		103.8	%
				Property casualty GAAP combined ratio		97.3	%
Operating income	$	114
Year-over-year percentage change		(1.1)	%	Commercial lines STAT combined ratio		97.2	%
Net realized investment gains and losses	$	10		Personal lines STAT combined ratio		103.6	%
Year-over-year percentage change		nm	%	Property casualty STAT combined ratio		98.7	%
Net income	$	124
Year-over-year percentage change		7.4	%	Return on equity based upon net income		7.4	%
				Return on equity based upon operating income		6.8	%
Per share (diluted):
				Balance Sheet:
Operating income	$	0.66
Year-over-year percentage change		0.0	%	Fixed maturity investments	$	5,939
Net realized investment gains and losses	$	0.06		Equity securities		7,225
Year-over-year percentage change		nm	%	Short-term investments		37
Net income	$	0.72		Other invested assets		67
Year-over-year percentage change		9.1	%	Total invested assets	$	13,268 ======
Book value	$	38.47
Year-over-year percentage change		3.1	%	Property casualty and life loss and loss expense reserves	$	4,031
Weighted average shares -- diluted		172,399,539		Total debt		860
Year-over-year percentage change		(1.6)	%	Shareholders equity		6,538

2007 Third-Quarter Supplement


Cincinnati Financial Corporation
Consolidated Statements of Income
	For the Three Months Ended September 30,							For the Nine Months Ended September 30,
		2007		2006		Change	% Change		2007		2006		Change	% Change
Revenues:
Premiums earned:
Property casualty	$	820,957,046	$	832,224,817	$	(11,267,771)	(1.35)	$	2,477,854,355	$	2,475,926,407	$	1,927,948	0.08
Life		42,395,592		36,294,277		6,101,315	16.81		124,663,788		109,318,969		15,344,819	14.04
Accident health		1,776,832		1,709,173		67,659	3.96		5,141,122		4,948,521		192,601	3.89
Premiums ceded		(54,453,334)		(51,268,668)		(3,184,666)	6.21		(160,490,771)		(144,775,239)		(15,715,532)	10.86
Total premiums earned		810,676,136		818,959,599		(8,283,463)	(1.01)		2,447,168,494		2,445,418,658		1,749,836	0.07
Investment income		152,051,554		143,775,266		8,276,288	5.76		450,376,849		425,032,304		25,344,545	5.96
Realized gain on investments		15,713,227		(172,581)		15,885,808	(9,204.84)		370,146,519		671,377,232		(301,230,713)	(44.87)
Other income		3,339,995		4,404,807		(1,064,812)	(24.17)		14,893,770		13,779,080		1,114,690	8.09
Total revenues	$	981,780,912	$	966,967,091	$	14,813,821	1.53	$	3,282,585,632	$	3,555,607,274	$	(273,021,642)	(7.68)
Benefits & expenses:											&nb sp;
Losses & policy benefits	$	585,951,416	$	578,846,827	$	7,104,589	1.23	$	1,649,479,484	$	1,694,301,755	$	(44,822,271)	(2.65)
Reinsurance recoveries		(26,400,951)		(30,315,757)		3,914,806	(12.91)		(116,025,070)		(98,667,113)		(17,357,957)	17.59
Commissions		136,051,089		155,791,819		(19,740,730)	(12.67)		465,911,059		477,745,948		(11,834,889)	(2.48)
Other operating expenses		88,009,132		83,215,761		4,793,371	5.76		257,353,965		242,512,606		14,841,359	6.12
Interest expense		12,726,648		13,349,408		(622,760)	(4.67)		38,703,204		39,311,943		(608,739)	(1.55)
Taxes, licenses & fees		17,904,979		19,382,354		(1,477,375)	(7.62)		56,801,190		58,002,253		(1,201,063)	(2.07)
Incr deferred acq expense		5,679,866		(4,798,858)		10,478,724	(218.36)		(17,013,847)		(26,742,398)		9,728,551	(36.38)
Other expenses		2,090,041		3,789,308		(1,699,267)	(44.84)		9,040,081		12,097,966		(3,057,885)	(25.28)
Total expenses	$	822,012,220	$	819,260,862	$	2,751,358	0.34	$	2,344,250,066	$	2,398,562,960	$	(54,312,894)	(2.26)
Income before income taxes	$	159,768,692	$	147,706,229	$	12,062,463	8.17	$	938,335,566	$	1,157,044,314	$	(218,708,748)	(18.90)
Provision for income taxes:											&nb sp;
Current operating income	$	26,303,009	$	23,097,937	$	3,205,072	13.88	$	132,246,641	$	118,760,218	$	13,486,423	11.36
Realized investments gains and losses		5,992,647		(89,965)		6,082,612	(6,761.09)		132,412,878		244,892,142		(112,479,264)	(45.93)
Deferred		3,644,481		9,386,153		(5,741,672)	(61.17)		4,978,995		(6,393,609)		11,372,604	(177.87)
Total income taxes	$	35,940,137	$	32,394,125	$	3,546,012	10.95	$	269,638,514	$	357,258,751	$	(87,620,237)	(24.53)

Net income	$	123,828,555	$	115,312,104	$	8,516,451	7.39	$	668,697,052	$	799,785,563	$	(131,088,511)	(16.39)
Comprehensive net income	$	(149,174,974)	$	455,185,004	$	(604,359,978)	(132.77)	$	29,253,026	$	609,439,522	$	(580,186,496)	(95.20)
Operating income	$	114,107,975	$	115,394,725	$	(1,286,750)	(1.12)	$	430,953,411	$	373,300,473	$	57,652,938	15.44
Net realized investments gains and losses	$	9,720,580	$	(82,615)	$	9,803,195	(11,866.12)	$	237,733,641	$	426,485,090	$	(188,751,449)	(44.26)

Net income per share:											&nb sp;
Operating income	$	0.67	$	0.67	$	-	0.00	$	2.51	$	2.15	$	0.36	16.74
Net realized investments gains and losses		0.05		0.00		0.05	N/A		1.38		2.46		(1.08)	(43.90)
Net income per share (basic)	$	0.72	$	0.67	$	0.05	7.46	$	3.89	$	4.61	$	(0.72)	(15.62)
Operating income	$	0.66	$	0.66	$	-	0.00	$	2.49	$	2.13	$	0.36	16.90
Net realized investments gains and losses		0.06		0.00		0.06	N/A		1.37		2.43		(1.06)	(43.62)
Net income per share (diluted)	$	0.72	$	0.66	$	0.06	9.09	$	3.86	$	4.56	$	(0.70)	(15.35)
Dividends per share:											&nb sp;
Paid	$	0.355	$	0.335	$	0.02	5.97	$	1.045	$	0.975	$	0.07	7.18
Declared		0.355		0.335		0.02	5.97		1.065		1.005		0.06	5.97
Number of shares:											&nb sp;
Weighted avg - basic		171,068,956		173,224,254		(2,155,298)	(1.24)		171,804,376		173,555,925		(1,751,549)	(1.01)
Weighted avg - diluted		172,399,539		175,260,063		(2,860,524)	(1.63)		173,423,199		175,542,616		(2,119,417)	(1.21)

2007 Third-Quarter Supplement


Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Nine Months Ended September 30, 2007

	Total		CFC		CIC GROUP		CLIC		CFC-I		CINFIN		ELIM
Revenues:
Premiums earned:
Property casualty	$	2,477,854,355	$	-	$	2,478,188,351	$	-	$	-	$	-	$	(333,996)
Life		124,663,788		-		-		124,663,788		-		-		-
Accident health		5,141,122		-		-		5,141,122		-		-		-
Premiums ceded		(160,490,771)		-		(130,356,727)		(30,134,044)		-		-		-
Total earned premium		2,447,168,494		-		2,347,831,624		99,670,866		-		-		(333,996)
Investment income		450,376,849		74,438,392		291,738,759		84,594,298		206,372		196,747		(797,719)
Realized gain on investments		370,146,519		103,152,228		202,374,057		51,750,857		311,590		(7,168)		12,564,955
Other income		14,893,770		7,489,436		3,310,897		3,461,706		7,701,286		1,852,346		(8,921,901)
Total revenues	$	3,282,585,632	$	185,080,056	$	2,845,255,337	$	239,477,727	$	8,219,248	$	2,041,925	$	2,511,339

Benefits & expenses:
Losses & policy benefits	$	1,649,479,484	$	-	$	1,523,262,450	$	127,869,309	$	-	$	-	$	(1,652,275)
Reinsurance recoveries		(116,025,070)		-		(86,370,570)		(29,654,500)		-		-		-
Commissions		465,911,059		-		439,509,545		26,401,514		-		-		-
Other operating expenses		257,363,965		13,857,387		225,330,196		23,381,966		3,316,875		523,327		(9,045,786)
Interest expense		38,703,204		36,597,174		-		-		2,179,432		-		(73,402)
Taxes, licenses & fees		56,801,190		920,269		52,977,986		2,756,613		35,794		110,528		-
Incr deferred acq expenses		(17,013,847)		-		(8,282,870)		(8,730,977)		-		-		-
Other expenses		9,040,081		-		9,039,973		108		-		-		-
Total expenses	$	2,344,260,066	$	51,374,830	$	2,155,466,710	$	142,024,033	$	5,532,101	$	633,855	$	(10,771,463)

Income before income taxes	$	938,325,566	$	133,705,226	$	689,788,627	$	97,453,694	$	2,687,147	$	1,408,070	$	13,282,802

Provision for income taxes:
Current operating income	$	132,246,641	$	(6,239,812)	$	136,806,227	$	4,508,915	$	1,090,738	$	478,307	$	(4,397,734)
Capital gains/losses		132,412,878		37,813,280		71,840,023		18,257,800		109,057		(5,016)		4,397,734
Deferred		4,978,995		4,334,934		(14,712,193)		10,914,527		(209,100)		1,846		4,648,981
Total income tax	$	269,638,514	$	35,908,402	$	193,934,057	$	33,681,242	$	990,695	$	475,137	$	4,648,981

Net income - current year	$	668,687,052	$	97,796,824	$	495,854,570	$	63,772,452	$	1,696,452	$	932,933	$	8,633,821

Net income - prior year	$	799,785,561	$	291,889,039	$	449,694,098	$	54,095,122	$	1,388,938	$	995,542	$	1,722,822

Change in net income		-16.4%		-66.5%		10.3%		17.9%		22.1%		-6.3%

2007 Third-Quarter Supplement


Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Nine Months Ended September 30, 2006

	Total		CFC		CIC GROUP		CLIC		CFC-I		CINFIN		ELIM
Revenues:
Premiums earned:
Property casualty	$	2,475,926,407	$	-	$	2,476,130,642	$	-	$	-	$	-	$	(204,235)
Life		109,318,969		-		-		109,318,969		-		-		-
Accident health		4,948,521		-		-		4,948,521		-		-		-
Premiums ceded		(144,775,239)		-		(114,086,242)		(30,688,997)		-		-		-
Total earned premium		2,445,418,658		-		2,362,044,400		83,578,493		-		-		(204,235)
Investment income		425,032,303		72,886,606		273,650,490		80,603,825		46,800		152,135		(2,307,553)
Realized gain on investments		671,377,232		408,476,440		218,522,618		42,327,225		(541,501)		13,974		2,578,476
Other income		13,779,079		7,562,069		2,543,187		2,559,919		8,325,040		1,752,535		(8,963,671)
Total revenues	$	3,555,607,272	$	488,925,115	$	2,856,760,695	$	209,069,462	$	7,830,339	$	1,918,644	$	(8,896,983)

Benefits & expenses:
Losses & policy benefits	$	1,694,301,755	$	-	$	1,577,665,678	$	118,288,412	$	-	$	-	$	(1,652,335)
Reinsurance recoveries		(98,667,113)		-		(71,961,815)		(26,705,298)		-		-		-
Commissions		477,745,948		-		452,075,295		25,670,653		-		-		-
Other operating expenses		242,512,606		14,648,994		212,430,180		19,784,207		3,954,490		395,698		(8,700,963)
Interest expense		39,311,943		38,152,316		392,450		-		1,961,356		-		(1,194,179)
Taxes, licenses & fees		58,002,254		867,522		55,196,080		2,144,949		(241,964)		35,667		-
Incr deferred acq expenses		(26,742,397)		-		(12,504,697)		(14,237,700)		-		-		-
Other expenses		12,097,965		-		12,097,857		108		-		-		-
Total expenses	$	2,398,562,961	$	53,668,832	$	2,225,391,028	$	124,945,331	$	5,673,882	$	431,365	$	(11,547,477)

Income before income taxes	$	1,157,044,311	$	435,256,283	$	631,369,667	$	84,124,131	$	2,156,457	$	1,487,279	$	2,650,494

Provision for income taxes:
Current operating income	$	118,760,218	$	(3,584,929)	$	115,636,895	$	5,319,857	$	909,580	$	478,815	$	-
Capital gains/losses		244,892,142		152,440,557		77,515,165		14,931,529		-		4,891		-
Deferred		(6,393,609)		(5,488,385)		(11,476,491)		9,777,623		(142,061)		8,032		927,673
Total income tax	$	357,258,751	$	143,367,243	$	181,675,569	$	30,029,009	$	767,519	$	491,738	$	927,673

Net income - current year	$	799,785,560	$	291,889,040	$	449,694,098	$	54,095,122	$	1,388,938	$	995,541	$	1,722,821

Net income - prior year	$	419,298,094	$	27,733,445	$	354,886,734	$	31,469,807	$	2,651,223	$	908,027	$	1,648,858

Change in net income		90.7%		952.5%		26.7%		71.9%		-47.6%		9.6%

2007 Third-Quarter Supplement


Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended September 30, 2007

	Total		CFC		CIC GROUP		CLIC		CFC-I		CINFIN		ELIM
Revenues:
Premiums earned:
Property casualty	$	820,957,046	$	-	$	820,959,014	$	-	$	-	$	-	$	(1,968)
Life		42,395,592		-		-		42,395,592		-		-		-
Accident health		1,776,832		-		-		1,776,832		-		-		-
Premiums ceded		(54,453,334)		-		(44,158,148)		(10,295,186)		-		-		-
Total earned premium		810,676,136		-		776,800,866		33,877,238		-		-		(1,968)
Investment income		152,051,554		25,316,172		98,273,334		28,515,819		133,533		70,993		(258,297)
Realized gain on investments		15,713,227		20,526,362		(4,836,462)		(117,732)		311,590		(1,959)		(168,572)
Other income		3,339,995		2,538,145		(340,240)		1,141,955		2,242,708		616,626		(2,859,199)
Total revenues	$	981,780,912	$	48,380,679	$	869,897,498	$	63,417,280	$	2,687,831	$	685,660	$	(3,288,036)

Benefits & expenses:
Losses & policy benefits	$	585,951,416	$	-	$	540,738,841	$	45,763,373	$	-	$	-	$	(550,798)
Reinsurance recoveries		(26,400,951)		-		(16,893,445)		(9,507,506)		-		-		-
Commissions		136,051,089		(47,500)		127,709,961		8,388,628		-		-		-
Other operating expenses		88,009,132		4,354,758		77,437,505		7,831,539		1,170,270		177,331		(2,962,271)
Interest expense		12,726,648		12,080,695		-		-		708,486		-		(62,533)
Taxes, licenses & fees		17,904,979		306,756		16,645,686		930,560		5,727		16,250		-
Incr deferred acq expenses		5,679,866		-		8,082,224		(2,402,358)		-		-		-
Other expenses		2,090,041		-		2,090,041		-		-		-		-
Total expenses	$	822,012,220	$	16,694,709	$	755,810,813	$	51,004,236	$	1,884,483	$	193,581	$	(3,575,602)

Income before income taxes	$	159,768,692	$	31,685,970	$	114,086,685	$	12,413,044	$	803,348	$	492,079	$	287,566

Provision for income taxes:
Current operating income	$	26,303,009	$	(5,798,618)	$	30,444,664	$	1,076,018	$	360,983	$	160,962	$	59,000
Capital gains/losses		5,992,647		7,554,227		(1,583,658)		(22,206)		109,057		(5,773)		(59,000)
Deferred		3,644,481		3,569,415		(3,000,557)		3,171,530		(201,383)		4,827		100,649
Total income tax	$	35,940,137	$	5,325,024	$	25,860,449	$	4,225,342	$	268,657	$	160,016	$	100,649

Net income - current year	$	123,828,555	$	26,360,946	$	88,226,236	$	8,187,702	$	534,691	$	332,063	$	186,917

Net income - prior year	$	115,312,108	$	9,915,441	$	95,560,597	$	8,698,927	$	327,922	$	346,618	$	462,603

Change in net income		7.4%		165.9%		-7.7%		-5.9%		63.1%		-4.2%

2007 Third-Quarter Supplement


Cincinnati Financial Corporation and Subsidiaries
Consolidated Statements of Income for the Three Months Ended September 30, 2006

	Total		CFC		CIC GROUP		CLIC		CFC-I		CINFIN		ELIM
Revenues:
Premiums earned:
Property casualty	$	832,224,817	$	-	$	832,230,217	$	-	$	-	$	-	$	(5,400)
Life		36,294,277		-		-		36,294,277		-		-		-
Accident health		1,709,173		-		-		1,709,173		-		-		-
Premiums ceded		(51,268,668)		-		(40,812,821)		(10,455,847)		-		-		-
Total earned premium		818,959,599		-		791,417,396		27,547,603		-		-		(5,400)
Investment income		143,775,266		24,507,149		92,191,499		27,213,672		46,800		55,452		(239,306)
Realized gain on investments		(172,581)		(2,726,812)		2,792,195		(256,745)		(541,501)		4,410		555,872
Other income		4,404,807		2,537,505		761,677		755,639		2,742,563		600,330		(2,992,907)
Total revenues	$	966,967,091	$	24,317,842	$	887,162,767	$	55,260,169	$	2,247,862	$	660,192	$	(2,681,741)
									&n bsp;
Benefits & expenses:
Losses & policy benefits	$	578,846,827	$	-	$	536,647,193	$	42,750,492	$	-	$	-	$	(550,858)
Reinsurance recoveries		(30,315,757)		-		(20,587,535)		(9,728,222)		-		-		-
Commissions		155,791,819		-		147,356,940		8,434,879		-		-		-
Other operating expenses		83,215,761		5,263,781		72,719,732		6,877,898		1,067,271		129,658		(2,842,579)
Interest expense		13,349,408		12,615,175		-		-		734,233		-		-
Taxes, licenses & fees		19,382,353		371,758		18,568,187		394,060		36,459		11,889		-
Incr deferred acq expenses		(4,798,857)		-		1,745,550		(6,544,407)		-		-		-
Other expenses		3,789,307		-		3,789,308		(1)		-		-		-
Total expenses	$	819,260,861	$	18,250,714	$	760,239,375	$	42,184,699	$	1,837,963	$	141,547	$	(3,393,437)
									&n bsp;
Income before income taxes	$	147,706,230	$	6,067,128	$	126,923,392	$	13,075,470	$	409,899	$	518,645	$	711,696
									&n bsp;
Provision for income taxes:
Current operating income	$	23,097,936	$	(1,882,887)	$	24,605,468	$	(33,442)	$	243,709	$	165,088	$	-
Capital gains/losses		(89,966)		(1,672,581)		1,553,933		27,139		-		1,543		-
Deferred		9,386,153		(292,846)		5,203,394		4,382,846		(161,732)		5,397		249,094
Total income tax	$	32,394,123	$	(3,848,314)	$	31,362,795	$	4,376,543	$	81,977	$	172,028	$	249,094
									&n bsp;
Net income - current year	$	115,312,107	$	9,915,442	$	95,560,597	$	8,698,927	$	327,922	$	346,617	$	462,602
									&n bsp;
Net income - prior year	$	117,145,356	$	11,567,302	$	95,574,518	$	8,114,811	$	1,085,652	$	270,355	$	532,718

Change in net income		-1.6%		-14.3%		0.0%		7.2%		-69.8%		28.2%

2007 Third-Quarter Supplement


Cincinnati Financial Corporation
Consolidated Balance Sheets

(Dollars in millions except per share data)		September 30,		December 31,
		2007		2006
		(unaudited)
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2007—$5,905; 2006—$5,739)	$	5,939	$	5,805
Equity securities, at fair value (cost: 2007—$3,006; 2006—$2,621)		7,225		7,799
Short-term investments, at fair value (amortized cost: 2007—$37; 2006—$95)		37		95
Other invested assets		67		60
Total investments		13,268		13,759

Cash and cash equivalents		183		202
Securities lending collateral		768		-
Investment income receivable		123		121
Finance receivable		97		108
Premiums receivable		1,161		1,128
Reinsurance receivable		745		683
Prepaid reinsurance premiums		12		13
Deferred policy acquisition costs		471		453
Property and equipment, net, for company use (accumulated depreciation: 2007—$281; 2006—$261)		227		193
Other assets		46		58
Separate accounts		521		504
Total assets	$	17,622	$	17,222

Liabilities
Insurance reserves
Losses and loss expense	$	4,031	$	3,896
Life policy reserves		1,459		1,409
Unearned premiums		1,619		1,579
Securities lending payable		768		-
Other liabilities		539		533
Deferred income tax		1,287		1,653
Notes payable		69		49
6.125% senior debenture due 2034		371		371
6.90% senior debenture due 2028		28		28
6.92% senior debenture due 2028		392		392
Separate accounts		521		504
Total liabilities		11,084		10,414

Shareholders' equity
Common stock, par value-$2 per share; authorized: 2007-500 million shares, 2006- 500 million shares; issued: 2007-196 million shares, 2006-196 million shares		392		391
Paid-in capital		1,041		1,015
Retained earnings		3,277		2,786
Accumulated other comprehensive income		2,735		3,379
Treasury stock at cost (2007—26 million shares, 2006—23 million shares)		(907)		(763)
Total shareholders' equity		6,538		6,808
Total liabilities and shareholders' equity	$	17,622	$	17,222

2007 Third-Quarter Supplement


Cincinnati Financial Corporation
Quarterly Net Income Reconciliation

(In millions except per share data)	Three months ended															Six months ended				Nine months ended				Twelve months ended
	12/31/07	9/30/07		6/30/07		3/31/07		12/31/06		9/30/06		6/30/06		3/31/06		6/30/07		6/30/06		9/30/07		9/30/06		12/31/07	12/31/06

Net income		$	124	$	351	$	194	$	130	$	115	$	132	$	552	$	545	$	684	$	669	$	800		$	930
Net realized investment gains and losses			10		187		41		8		-		6		421		228		426		238		427			434
Operating income			114		164		153		122		115		126		131		317		258		431		373			496
Less catastrophe losses			(9)		(7)		(2)		(29)		(18)		(41)		(26)		(9)		(67)		(18)		(85)			(113)
Operating income before catastrophe losses		$	123	$	171	$	155	$	151	$	133	$	167	$	157	$	326	$	325	$	449	$	458		$	609

Diluted per share data
Net income		$	0.72	$	2.02	$	1.11	$	0.75	$	0.66	$	0.76	$	3.13	$	3.13	$	3.90	$	3.86	$	4.56		$	5.30
Net realized investment gains and losses			0.06		1.08		0.23		0.05		-		0.04		2.39		1.31		2.43		1.37		2.43			2.48
Operating income			0.66		0.94		0.88		0.70		0.66		0.72		0.74		1.82		1.47		2.49		2.13			2.82
Less catastrophe losses			(0.05)		(0.04)		(0.01)		(0.16)		(0.10)		(0.24)		(0.14)		(0.05)		(0.38)		(0.10)		(0.48)			(0.65)
Operating income before catastrophe losses		$	0.71	$	0.98	$	0.89	$	0.86	$	0.76	$	0.96	$	0.88	$	1.87	$	1.85	$	2.59	$	2.61		$	3.47

Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.

2007 Third-Quarter Supplement


Cincinnati Financial Corporation
Top Holdings – Common Stocks

(Dollars in millions)	As of and for nine months ended September 30, 2007
	Actual cost		Fair value		Percent of fair value		Earned dividend income


Fifth Third Bancorp	$	283	$	2,466	35.3	%	$	92
The Procter & Gamble Company		206		529	7.6			8
Exxon Mobil Corporation		58		478	6.9			6
AllianceBernstein Holding L.P.		113		345	4.9			12
U.S. Bancorp		263		333	4.8			11
PNC Financial Services Group, Inc.		62		320	4.6			9
Johnson & Johnson		218		263	3.8			5
National City Corporation		171		246	3.5			12
Wells Fargo & Company		107		204	2.9			5
Wyeth		62		197	2.8			3
Huntington Bancshares Inc		168		152	2.2			2
Piedmont Natural Gas Company, Inc.		64		142	2.0			4
Wachovia Corp		150		139	2.0			4
General Electric Co.		106		130	1.9			2
Chevron Corporation		56		124	1.8			2
All other common stock holdings		661		908	13.0			25
Total	$	2,748	$	6,976	100.0	%	$	202

2007 Third-Quarter Supplement


Fifth Third Bancorp Holding
Proforma – September 30, 2007

(In millions except market price data)	Pro-forma					Reported			Reported
	At September 30,				At September 30,			At December 31,
		2007				2007			2006
Shares held		67				73			73

Closing market price of Fifth Third	$	29.90		(1)	$	33.88		$	40.93
Book value of holding		185				283			283
Fair value of holding		2,012				2,466			2,979
After-tax unrealized gain		1,187				1,419			1,752

Market value as a percent of total equity investments		29.7	%	(2)		34.1	%		38.2	%
Market value as a percent of invested assets		15.7		(2)		18.6			21.7
Market value as a percent of total shareholders' equity		30.8		(3)		37.7			43.8
After-tax unrealized gain as a percent of total shareholders' equity		18.2		(3)		21.7			25.7


(1) Fifth Third closing price on October 22, 2007.
(2) Total equity investments and invested assets updated for Fifth Third share sale and market value as of October 22, 2007.
(3) Total shareholders' equity not updated for Fifth Third share sale and market value as of October 22, 2007.

Post-transaction, every $1.00 change in the market price of Fifth Third has approximately a 26 cent impact on our book value per share.

2007 Third-Quarter Supplement


Cincinnati Financial Corporation Subsidiaries
Selected Balance Sheet Data

(Dollars in millions)		12/31/2007		9/30/2007		6/30/2007		3/31/2007		12/31/2006		9/30/2006		6/30/2006		3/31/2006
Cincinnati Insurance Property Casualty Group
Fixed Maturities and Equities (Fair Value)			$	9,586	$	9,850	$	9,837	$	9,882	$	9,393	$	8,987	$	9,261
Fixed Maturities - Pretax Net Unrealized Gain (Loss)				23		(30)		44		47		51		(55)		2
Equities - Pretax Net Unrealized Gain (Loss)				2,657		2,917		3,017		3,166		2,859		2,621		2,758
Loss and Loss Expense Reserves - STAT				3,461		3,374		3,373		3,356		3,314		3,237		3,169
Surplus - STAT				4,782		4,937		4,741		4,750		4,607		4,342		4,334

The Cincinnati Life Insurance Company
Fixed Maturities and Equities (Fair Value)			$	1,935	$	1,893	$	1,922	$	1,913	$	1,893	$	1,803	$	1,808
Fixed Maturities - Pretax Net Unrealized Gain (Loss)				4		(4)		20		15		17		(17)		6
Equities - Pretax Net Unrealized Gain (Loss)				225		254		305		307		271		238		256
Retained Earnings - GAAP				724		730		739		719		688		652		666
Surplus - STAT				485		491		483		479		461		459		470

		12/31/2005		9/30/2005		6/30/2005		3/31/2005		12/31/2004		9/30/2004		6/30/2004		3/31/2004
Cincinnati Insurance Property Casualty Group
Fixed Maturities and Equities (Fair Value)	$	8,947	$	8,833	$	8,802	$	8,710	$	8,806	$	8,523	$	6,599	$	6,882
Fixed Maturities - Pretax Net Unrealized Gain (Loss)		50		86		152		99		188		158		84		190
Equities - Pretax Net Unrealized Gain (Loss)		2,803		2,807		2,903		2,931		3,135		1,746		1,740		1,924
Loss and Loss Expense Reserves - STAT		3,111		3,150		3,065		3,031		2,977		3,036		2,952		2,901
Surplus - STAT		4,220		4,224		4,180		4,065		4,196		4,037		2,871		2,791

The Cincinnati Life Insurance Company
Fixed Maturities and Equities (Fair Value)	$	1,788	$	1,797	$	1,748	$	1,688	$	1,637	$	1,695	$	1,637	$	1,652
Fixed Maturities - Pretax Net Unrealized Gain (Loss)		31		45		70		53		82		76		49		94
Equities - Pretax Net Unrealized Gain (Loss)		266		274		275		257		274		261		252		266
Retained Earnings - GAAP		651		348		655		622		639		612		584		610
Surplus - STAT		451		447		447		440		439		409		401		395

2007 Third-Quarter Supplement

< TD style="border-bottom:0.25pt dashed #DFDFDF" valign=top width=76.733> < TD style="border-bottom:0.25pt dashed #DFDFDF" valign=top width=76.733>


Cincinnati Insurance Group
GAAP Statements of Income

	For the Three Months Ended September 30,							For the Nine Months Ended September 30,
		2007		2006		Change	% Change		2007		2006		Change	% Change
Revenues:
Premiums earned:
Property casualty	$	820,959,014	$	832,230,217	$	(11,271,203)	(1.35)	$	2,478,188,351	$	2,476,130,642	$	2,057,709	0.08
Life		-		-		-	-		-		-		-	-
Accident health		-		-		-	-		-		-		-	-
Premiums ceded		(44,158,148)		(40,812,821)		(3,345,327)	8.20		(130,356,727)		(114,086,242)		(16,270,485)	14.26
Total premiums earned		776,800,866		791,417,396		(14,616,530)	(1.85)		2,347,831,624		2,362,044,400		(14,212,776)	(0.60)
Investment income		98,273,334		92,191,499		6,081,835	6.60		291,738,759		273,650,490		18,088,269	6.61
Realized gain on investments		(4,836,462)		2,792,195		(7,628,657)	(273.21)		202,374,057		218,522,618		(16,148,561)	(7.39)
Other income		(340,240)		761,677		(1,101,917)	(144.67)		3,310,897		2,543,187		767,710	30.19
Total revenues	$	869,897,498	$	887,162,767	$	(17,265,269)	(1.95)	$	2,845,255,337	$	2,856,760,695	$	(11,505,358)	(0.40)

Benefits & expenses:
Losses & policy benefits	$	540,738,841	$	536,647,193	$	4,091,648	0.76	$	1,523,262,450	$	1,577,665,678	$	(54,403,228)	(3.45)
Reinsurance recoveries		(16,893,445)		(20,587,535)		3,694,090	(17.94)		(86,370,570)		(71,961,815)		(14,408,755)	20.02
Commissions		127,709,961		147,356,940		(19,646,979)	(13.33)		439,509,545		452,075,295		(12,565,750)	(2.78)
Other operating expenses		77,437,505		72,719,732		4,717,773	6.49		225,330,196		212,430,180		12,900,016	6.07
Interest expense		-		-		-	-		-		392,450		(392,450)	-
Taxes, licenses & fees		16,645,686		18,568,187		(1,922,501)	(10.35)		52,977,986		55,196,080		(2,218,094)	(4.02)
Incr deferred acq expense		8,082,224		1,745,550		6,336,674	363.02		(8,282,870)		(12,504,697)		4,221,827	(33.76)
Other expenses		2,090,041		3,789,308		(1,699,267)	(44.84)		9,039,973		12,097,857		(3,057,884)	(25.28)
Total expenses	$	755,810,813	$	760,239,375	$	(4,428,562)	(0.58)	$	2,155,466,710	$	2,225,391,028	$	(69,924,318)	(3.14)
Income before income taxes	$	114,086,685	$	126,923,392	$	(12,836,707)	(10.11)	$	689,788,627	$	631,369,667	$	58,418,960	9.25

Provision for income taxes:
Current operating income	$	30,444,664	$	24,605,468	$	5,839,196	23.73	$	136,806,227	$	115,636,895	$	21,169,332	18.31
Current realized investments gains and losses		(1,583,658)		1,553,933		(3,137,591)	(201.91)		71,840,023		77,515,165		(5,675,142)	(7.32)
Deferred		(3,000,557)		5,203,394		(8,203,951)	(157.67)		(14,712,193)		(11,476,491)		(3,235,702)	28.19
Total income taxes	$	25,860,449	$	31,362,795	$	(5,502,346)	(17.54)	$	193,934,057	$	181,675,569	$	12,258,488	6.75

Net income	$	88,226,236	$	95,560,597	$	(7,334,361)	(7.68)	$	495,854,570	$	449,694,098	$	46,160,472	10.26

2007 Third-Quarter Supplement


Cincinnati Insurance Group
Statutory Statements of Income

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
		2007		2006	% Change		2007		2006	% Change
Underwriting income
Net premiums written	$	736,354,821	$	779,850,450	(5.58)	$	2,392,327,271	$	2,422,859,784	(1.26)
Unearned premiums increase		(40,446,047)		(11,566,946)	249.67		44,495,646		60,815,381	(26.83)
Earned premiums		776,800,868		791,417,397	(1.85)		2,347,831,625		2,362,044,403	(0.60)

Losses incurred	$	431,727,371	$	433,550,671	(0.42)	$	1,166,347,214	$	1,261,577,990	(7.55)
Allocated loss expenses incurred		44,377,048		39,943,837	11.10		133,163,852		111,441,487	19.49
Unallocated loss expenses incurred		47,740,977		42,565,137	12.16		137,380,815		132,684,385	3.54
Other underwriting expenses incurred		227,469,464		240,710,680	(5.50)		711,845,483		701,823,238	1.43
Workers compensation dividend incurred		2,649,865		2,457,033	7.85		8,052,312		12,207,419	(34.04)

Total underwriting deductions	$	753,964,725	$	759,227,358	(0.69)	$	2,156,789,676	$	2,219,734,519	(2.84)
Net underwriting gain (loss)	$	22,836,143	$	32,190,038	(29.06)	$	191,041,949		142,309,885	34.24

Investment income
Gross investment income earned	$	100,579,844	$	93,222,475	7.89	$	296,592,934	$	277,045,152	7.06
Net investment income earned		97,939,533		92,191,500	6.23		291,447,565		273,650,490	6.50
Net realized capital gains		959,585		778,019	23.34		135,356,272		141,848,878	(4.58)
Net investment gains (excl. subs)	$	98,899,118	$	92,969,519	6.38	$	426,803,837	$	415,499,368	2.72
Dividend from subsidiary		-		14,000,000	-		-		14,000,000	-
Net investment gains	$	98,899,118	$	106,969,519	(7.54)	$	426,803,837	$	429,499,368	(0.63)


Other income	$	(514,171)	$	424,108	(221.24)	$	2,794,180	$	1,869,864	49.43

Net income before federal income taxes	$	121,221,090	$	139,583,665	(13.16)	$	620,639,966	$	573,679,116	8.19
Federal and foreign income taxes incurred	$	26,567,206	$	23,941,392	10.97	$	131,380,364	$	113,163,358	16.10
Net income (statutory)	$	94,653,884	$	115,642,273	(18.15)	$	459,259,602	$	460,515,758	6.24
* Statutory data prepared in accordance with statutory accounting rules as defined by the National
Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


Cincinnati Insurance Group - Consolidated
Statutory Quarterly Analysis
(Based on reported data - see Page 24 for adjusted data)
(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Net premiums written		$	736		$	810		$	846		$	755		$	780		$	814		$	829		$	1,656		$	1,643		$	2,392		$	2,423				$	3,178
Net premiums earned		$	777		$	787		$	785		$	802		$	791		$	793		$	778		$	1,571		$	1,571		$	2,348		$	2,362				$	3,164

Losses paid		$	363		$	379		$	365		$	375		$	366		$	379		$	345		$	744		$	727		$	1,107		$	1,094				$	1,469
Loss reserve change			69			(15)			6			4			66			60			42			(9)			101			60			168					172
Total losses incurred		$	432		$	364		$	371		$	379		$	432		$	439		$	387		$	735		$	828		$	1,167		$	1,262				$	1,641
Allocated loss expense paid			29			34			31			37			33			31			28			65			59			94			91					127
Allocated loss expense reserve change			15			16			8			35			8			7			6			24			13			39			20					56
Total allocated loss expense incurred		$	44		$	50		$	39		$	72		$	41		$	38		$	34		$	89		$	72		$	133		$	111				$	183
Unallocated loss expense paid			44			41			46			49			39			39			40			86			78			131			117					167
Unallocated loss expense reserve change			4			1			2			2			4			3			10			3			12			6			15					17
Total unallocated loss expense incurred		$	48		$	42		$	48		$	51		$	43		$	42		$	50		$	89		$	90		$	137		$	132				$	184
Underwriting expenses incurred			230			242			248			251			243			232			240			490			471			720			715					965
Underwriting profit (loss)		$	23		$	89		$	79		$	49		$	32		$	42		$	67		$	168		$	110		$	191		$	142				$	191
																						& nbsp;
Loss Detail
Losses $1 million or more		$	80		$	43		$	50		$	63		$	60		$	46		$	32		$	93		$	79		$	173		$	139				$	203
Losses $250 thousand to $1 million			47			46			48			43			49			48			38			92			86			140			135					178
Development and case reserve increases of $250,000 or more			51			49			53			64			49			52			49			102			102			152			151					215
Large losses subtotal		$	178		$	138		$	151		$	170		$	158		$	146		$	119		$	287		$	267		$	465		$	425				$	596
IBNR incurred			-			7			7			(57)			11			(5)			6			15			1			15			11					(47)
Catastrophe losses incurred			13			11			3			44			27			64			39			15			103			28			131					175
Remaining incurred			241			208			210			222			237			234			223			418			457			658			695					917
Total losses incurred		$	432		$	364		$	371		$	379		$	433		$	439		$	387		$	735		$	828		$	1,166		$	1,262				$	1,641
																						& nbsp;
Ratio Data
Loss ratio			55.6	%		46.3	%		47.2	%		47.2	%		54.8	%		55.4	%		49.9	%		46.8	%		52.7	%		49.7	%		53.4	%				51.9	%
Allocated loss expense ratio			5.7			6.3			5.0			9.0			5.0			4.8			4.3			5.7			4.6			5.7			4.7					5.8
Unallocated loss expense ratio			6.1			5.3			6.1			6.4			5.4			5.1			6.4			5.7			5.7			5.8			5.6					5.8
Net underwriting expense ratio			31.3			29.8			29.4			33.3			31.2			28.4			29.0			29.5			28.7			30.1			29.5					30.4
Statutory combined ratio			98.7	%		87.7	%		87.7	%		95.9	%		96.4	%		93.7	%		89.6	%		87.7	%		91.7	%		91.3	%		93.2	%				93.9	%
Statutory combined ratio excluding catastrophes			97.0	%		86.3	%		87.3	%		90.4	%		92.9	%		85.7	%		84.6	%		86.8	%		85.2	%		90.1	%		87.7	%				88.4	%
																						& nbsp;
Loss Ratio
Losses $1 million or more			10.4	%		5.4	%		6.4	%		7.9	%		7.6	%		6.0	%		4.2	%		5.9	%		5.1	%		7.4	%		5.9	%				6.4	%
Losses $250 thousand to $1 million			6.1			5.8			6.0			5.3			6.2			6.0			4.9			5.9			5.5			6.0			5.7					5.6
Development and case reserve increases of $250,000 or more			6.4			6.2			6.8			8.0			6.3			7.4			6.3			6.5			6.9			6.4			6.4					6.8
Large losses subtotal			22.9	%		17.4	%		19.2	%		21.2	%		20.1	%		19.4	%		15.4	%		18.3	%		17.5	%		19.8	%		18.0	%				18.8	%
IBNR incurred			-			0.9			1.0			(7.2)			1.3			1.3			0.8			0.9			1.1			0.6			0.5					(1.4)
Total catastrophe losses incurred			1.7			1.4			0.4			5.5			3.5			8.0			5.0			0.9			6.5			1.2			5.5					5.5
Remaining incurred			31.0			26.6			26.6			27.7			29.9			26.7			28.7			26.7			27.6			28.1			29.4					29.0
Total loss ratio			55.6	%		46.3	%		47.2	%		47.2	%		54.8	%		55.4	%		49.9	%		46.8	%		52.7	%		49.7	%		53.4	%				51.9	%
																						& nbsp;
Loss Claim Count
Losses $1 million or more			38			26			28			33			32			26			14			54			40			92			72					105
Losses $250 thousand to $1 million			111			104			108			97			103			88			95			212			183			323			286					383
Development and case reserve increases of $250,000 or more			93			82			93			94			104			85			85			175			170			268			274					368
Large losses total			242			212			229			224			239			199			194			441			393			683			632					856

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
*NM - Not meaningful
* Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


Cincinnati Insurance Group - Commercial Lines
Statutory Quarterly Analysis
(Based on reported data - see Page 25 for adjusted data)
(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Net premiums written		$	544		$	613		$	693		$	589		$	582		$	603		$	668		$	1,306		$	1,271		$	1,851		$	1,853				$	2,442
Net premiums earned		$	600		$	607		$	604		$	619		$	602		$	599		$	582		$	1,210		$	1,181		$	1,810		$	1,783				$	2,402

Losses paid		$	253		$	270		$	260		$	256		$	247		$	251		$	233		$	530		$	485		$	783		$	732				$	988
Loss reserve change			66			(12)			23			5			63			53			53			11			105			77			169					174
Total losses incurred		$	319		$	258		$	283		$	261		$	310		$	304		$	286		$	541		$	590		$	860		$	901				$	1,162
Allocated loss expense paid			26			30			28			33			30			28			24			58			52			84			81					114
Allocated loss expense reserve change			16			16			8			37			7			6			5			24			12			40			19					56
Total allocated loss expense incurred		$	42		$	46		$	36		$	70		$	37		$	34		$	29		$	82		$	64		$	124		$	100				$	170
Unallocated loss expense paid			31			30			32			34			27			27			28			62			54			93			81					116
Unallocated loss expense reserve change			4			1			3			3			3			3			10			4			13			8			15					18
Total unallocated loss expense incurred		$	35		$	31		$	35		$	37		$	30		$	30		$	38		$	66		$	67		$	101		$	96				$	134
Underwriting expenses incurred			170			179			193			194			185			172			179			372			349			542			536					727
Underwriting profit (loss)		$	34		$	93		$	57		$	57		$	40		$	59		$	50		$	149		$	111		$	183		$	150				$	209
																						& nbsp;
Loss Detail
Losses $1 million or more		$	72		$	36		$	45		$	59		$	51		$	40		$	30		$	81		$	70		$	153		$	121				$	180
Losses $250 thousand to $1 million			37			34			38			35			37			39			28			71			67			108			104					139
Development and case reserve increases of $250,000 or more			46			46			49			58			45			45			44			95			90			141			135					193
Large losses subtotal		$	155		$	116		$	132		$	152		$	133		$	124		$	102		$	247		$	227		$	402		$	360				$	512
IBNR incurred			-			6			7			(45)			10			(6)			6			14			-			14			10					(36)
Catastrophe losses incurred			1			5			10			11			14			34			29			16			63			17			77					89
Remaining incurred			163			131			134			143			153			152			149			264			300			427			454					597
Total losses incurred		$	319		$	258		$	283		$	261		$	310		$	304		$	286		$	541		$	590		$	860		$	901				$	1,162
																						& nbsp;
Ratio Data
Loss ratio			53.2	%		42.6	%		46.8	%		42.2	%		51.5	%		50.7	%		49.2	%		44.7	%		50.0	%		47.5	%		50.5	%				48.4	%
Allocated loss expense ratio			7.0			7.6			5.9			11.3			6.0			5.7			5.1			6.8			5.4			6.8			5.6					7.1
Unallocated loss expense ratio			5.8			5.1			6.0			6.0			5.0			4.9			6.5			5.5			5.7			5.6			5.4					5.5
Net underwriting expense ratio			31.3			29.1			27.8			32.9			31.6			28.3			26.7			28.4			27.5			29.3			28.8					29.8
Statutory combined ratio			97.3	%		84.4	%		86.5	%		92.4	%		94.1	%		89.6	%		87.5	%		85.4	%		88.6	%		89.2	%		90.3	%				90.8	%
Statutory combined ratio excluding catastrophes			97.1	%		83.6	%		84.7	%		90.5	%		91.8	%		84.0	%		82.4	%		84.1	%		83.3	%		88.3	%		86.0	%				87.1	%
																						& nbsp;
Loss Ratio
Losses $1 million or more			12.0	%		5.9	%		7.4	%		9.6	%		8.5	%		6.6	%		5.2	%		6.7	%		5.9	%		8.4	%		6.8	%				7.5	%
Losses $250 thousand to $1 million			6.2			5.6			6.2			5.6			6.1			6.5			4.8			5.9			5.7			6.0			5.8					5.8
Development and case reserve increases of $250,000 or more			7.6			7.6			8.2			9.4			7.5			7.6			7.6			7.9			7.6			7.8			7.6					8.0
Large losses subtotal			25.8	%		19.1	%		21.8	%		24.6	%		22.1	%		20.7	%		17.6	%		20.5	%		19.2	%		22.2	%		20.2	%				21.3	%
IBNR incurred			-			1.0			1.2			(7.3)			1.7			(1.0)			1.0			1.1			-			0.8			0.6					(1.5)
Total catastrophe losses incurred			0.2			0.8			1.8			1.9			2.3			5.6			5.1			1.3			5.3			0.9			4.3					3.7
Remaining incurred			27.2			21.7			22.0			23.0			25.4			25.4			25.5			21.8			25.5			23.6			25.4					24.9
Total loss ratio			53.2	%		42.6	%		46.8	%		42.2	%		51.5	%		50.7	%		49.2	%		44.7	%		50.0	%		47.5	%		50.5	%				48.4	%

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
*NM - Not meaningful
* Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


Cincinnati Insurance Group - Personal Lines
Statutory Quarterly Analysis
(Based on reported data - see Page 26 for adjusted data)
(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Net premiums written		$	192		$	197		$	153		$	166		$	198		$	211		$	161		$	350		$	372		$	541		$	570			$	736
Net premiums earned		$	177		$	180		$	181		$	183		$	189		$	194		$	196		$	361		$	390		$	538		$	579			$	762
																							&nbs p;
Losses paid		$	110		$	109		$	105		$	119		$	119		$	128		$	112		$	214		$	242		$	324		$	362			$	481
Loss reserve change			3			(3)			(17)			(1)			3			7			(11)			(20)			(4)			(17)			(1)				(2)
Total losses incurred		$	113		$	106		$	88		$	118		$	122		$	135		$	101		$	194		$	238		$	307		$	361			$	479
Allocated loss expense paid			3			4			3			4			3			3			4			7			7			10			10				13
Allocated loss expense reserve change			(1)						-			(2)			1			1			1			-			1			(1)			1				-
Total allocated loss expense incurred		$	2		$	4		$	3		$	2		$	4		$	4		$	5		$	7		$	8		$	9		$	11			$	13
Unallocated loss expense paid			13			11			14			15			12			12			12			24			24			38			36				51
Unallocated loss expense reserve change			-			-			(1)			(1)			1			-			-			(1)			(1)			(2)			-				(1)
Total unallocated loss expense incurred		$	13		$	11		$	13		$	14		$	13		$	12		$	12		$	23		$	23		$	36		$	36			$	50
Underwriting expenses incurred			60			63			55			57			58			60			61			118			122			178			179				238
Underwriting profit (loss)		$	(11)		$	(4)		$	22		$	(8)		$	(8)		$	(17)		$	17		$	19		$	(1)		$	8		$	(8)			$	(18)

Loss Detail
Losses $1 million or more		$	8		$	7		$	5		$	4		$	9		$	6		$	2		$	12		$	9		$	21		$	18			$	23
Losses $250 thousand to $1 million			10			12			10			8			12			9			10			21			19			31			31				39
Development and case reserve increases of $250,000 or more			5			3			4			6			4			7			5			7			12			12			16				22
Large losses subtotal		$	23		$	22		$	19		$	18		$	25		$	22		$	17		$	40		$	40		$	64		$	65			$	84
IBNR incurred			-			1			-			(12)			1			1			-			1			1			1			1				(11)
Catastrophe losses incurred			12			6			(7)			33			13			30			10			(1)			40			11			54				86
Remaining incurred			78			77			76			79			84			82			74			154			157			231			241				320
Total losses incurred		$	113		$	106		$	88		$	118		$	123		$	135		$	101		$	194		$	238		$	307		$	361			$	479

Ratio Data
Loss ratio			63.8	%		58.7	%		48.9	%		64.4	%		65.1	%		70.0	%		52.2	%		53.8	%		61.1	%		57.1	%		62.4	%			62.9	%
Allocated loss expense ratio			1.4			1.9			1.8			1.2			1.9			2.1			1.7			1.9			1.9			1.7			2.0				1.7
Unallocated loss expense ratio			7.3			6.2			6.6			7.8			6.6			5.8			6.2			6.4			6.0			6.7			6.1				6.6
Net underwriting expense ratio			31.1			31.8			36.2			34.3			30.4			28.5			38.0			33.7			32.6			32.8			31.8				32.4
Statutory combined ratio			103.6	%		98.6	%		93.5	%		107.7	%		104.0	%		106.4	%		98.1	%		95.8	%		101.6	%		98.3	%		102.3	%			103.6	%
Statutory combined ratio excluding catastrophes			96.6	%		95.1	%		97.6	%		89.8	%		96.9	%		90.8	%		93.1	%		96.1	%		91.3	%		96.2	%		93.1	%			92.3	%

Loss Ratio
Losses $1 million or more			4.8	%		3.8	%		3.0	%		2.2	%		5.0	%		3.5	%		1.2	%		3.4	%		2.3	%		3.8	%		3.2	%			3.0	%
Losses $250 thousand to $1 million			5.7			6.5			5.4			4.5			6.4			4.4			5.3			5.9			4.9			5.8			5.4				5.2
Development and case reserve increases of $250,000 or more			2.7			1.5			2.2			3.4			2.1			3.5			2.7			1.8			3.1			2.2			2.8				2.9
Large losses subtotal			13.2	%		11.8	%		10.6	%		10.1	%		13.5	%		11.4	%		9.2	%		11.1	%		10.3	%		11.8	%		11.4	%			11.1	%
IBNR incurred			-			0.4			-			(6.8)			0.1			0.7			-			0.2			0.3			0.1			0.3				(1.5)
Total catastrophe losses incurred			7.0			3.5			(4.1)			17.9			7.1			15.6			5.0			(0.3)			10.3			2.1			9.2				11.3
Remaining incurred			43.6			43.0			42.4			43.2			44.4			42.3			38.0			42.8			40.2			43.1			41.5				42.0
Total loss ratio			63.8	%		58.7	%		48.9	%		64.4	%		65.1	%		70.0	%		52.2	%		53.8	%		61.1	%		57.1	%		62.4	%			62.9	%

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts.
*NM - Not meaningful
* Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


Cincinnati Insurance Group
Direct Written Premiums by Risk State by Line of Business for the Nine Months Ended September 30, 2007
(Dollars in millions)
																					9/30/2007		9/30/2006		Commercial	Personal	Total
	Comm		Comm		Comm		Workers'		Specialty		Surety &		Mach. &		Pers		Home		Other		Agency		Agency		Change	Change	Change
Risk State	Casualty		Prop		Auto		Comp		Packages		Exec Risk		Equip		Auto		Owner		Personal		Direct		Direct		%	%	%

AL	$	15.8	$	12.0	$	6.3	$	1.0	$	5.2	$	1.4	$	0.4	$	11.9	$	17.1	$	3.6	$	74.7	$	69.4	12.3	2.4	7.7
AZ		10.1		4.7		7.2		0.3		0.8		0.6		0.3		0.0		0.1		0.1		24.3		23.1	5.3	9.7	5.3
AR		7.8		7.1		4.6		3.8		2.9		1.1		0.3		2.0		2.3		0.6		32.4		34.8	(7.6)	(3.6)	(7.0)
DE		0.8		0.5		0.5		1.5		0.1		0.0		0.0		0.0		0.0		0.0		3.4		2.5	37.5	232.2	34.5
FL		28.7		19.5		10.2		1.5		2.4		1.8		0.7		9.6		19.0		2.8		96.2		91.5	1.8	12.6	5.1
GA		21.9		15.6		15.4		10.1		5.4		5.2		0.6		24.0		19.8		5.3		123.2		120.3	5.6	(2.0)	2.4
ID		7.1		3.0		3.7		0.0		0.7		0.7		0.2		0.0		0.0		0.0		15.5		13.0	19.9	(111.4)	19.8
IL		60.8		35.6		23.8		42.7		10.0		6.2		2.2		18.4		14.4		4.8		218.8		230.3	(5.0)	(5.1)	(5.0)
IN		39.8		29.8		19.8		23.6		6.0		5.7		1.8		20.6		19.4		5.0		171.6		179.2	(3.2)	(7.2)	(4.2)
IA		16.8		11.3		7.1		18.4		3.5		2.2		1.1		3.4		3.3		1.4		68.5		69.4	(0.6)	(5.8)	(1.3)
KS		6.4		6.3		3.5		5.9		2.5		1.1		0.3		3.7		4.8		1.0		35.6		33.9	9.8	(5.9)	5.1
KY		17.2		15.4		10.7		3.1		3.8		2.1		0.7		14.7		11.4		3.0		82.1		80.3	5.7	(3.5)	2.2
MD		11.0		4.7		7.5		9.6		0.8		1.4		0.3		0.0		1.0		0.4		36.6		35.2	3.9	3.7	3.9
MI		28.8		18.2		12.3		13.8		9.4		4.2		1.2		10.0		11.8		2.4		112.1		125.5	(11.1)	(9.4)	(10.7)
MN		20.5		13.1		8.1		6.7		3.0		1.8		0.8		5.0		4.2		2.5		65.7		65.3	2.0	(4.7)	0.7
MO		21.8		15.2		9.4		14.9		4.0		1.7		0.9		2.1		3.2		0.7		73.9		69.7	8.2	(13.2)	6.1
MT		10.9		5.5		5.6		0.1		0.6		0.3		0.3		0.0		0.1		0.0		23.5		21.2	10.9	4.1	10.8
NE		5.4		4.1		2.6		6.0		1.1		0.8		0.3		0.8		0.9		0.3		22.1		24.1	(6.8)	(19.2)	(8.0)
NH		2.5		1.7		1.2		2.0		0.6		0.4		0.1		0.6		0.6		0.3		9.9		9.8	2.5	(7.5)	0.9
NY		25.9		5.9		8.0		2.1		1.1		2.8		0.4		0.0		0.0		0.0		46.1		38.7	19.3	3.8	19.3
NC		33.8		23.2		18.0		22.5		9.4		5.7		1.2		0.8		1.2		1.9		117.8		111.8	6.0	(8.8)	5.4
ND		3.8		2.8		2.0		0.0		0.6		0.5		0.2		0.4		0.4		0.1		10.9		9.8	15.1	(17.1)	11.2
OH		122.0		70.8		54.4		(0.4)		16.0		19.4		3.4		101.9		70.7		23.1		481.2		503.5	(3.8)	(5.3)	(4.4)
PA		37.6		22.3		22.6		42.0		7.5		4.6		1.3		6.2		5.0		2.6		151.6		151.1	0.2	1.8	0.3
SC		11.3		7.0		6.7		4.4		1.9		2.0		0.2		0.0		0.0		0.2		33.8		31.2	8.3	25.8	8.4
SD		3.4		2.4		1.8		3.6		0.3		0.4		0.2		0.0		0.0		0.0		12.1		11.8	3.3	(18.3)	3.2
TN		20.5		14.1		11.9		10.1		6.4		3.2		0.8		6.3		6.6		2.3		82.2		80.3	1.7	5.3	2.3
UT		8.5		3.0		3.9		0.0		0.3		1.3		0.2		0.0		0.0		0.0		17.4		13.2	31.3	22.5	31.2
VT		3.9		3.0		2.3		5.7		0.7		0.5		0.2		0.7		0.7		0.2		17.9		17.2	4.4	0.0	4.0
VA		26.0		19.4		17.6		19.1		3.7		3.9		0.8		7.8		6.3		2.2		106.9		110.1	(2.9)	(2.9)	(2.9)
WV		6.6		4.6		4.5		0.0		1.7		0.6		0.2		0.0		0.7		0.2		19.1		20.0	(4.4)	(6.2)	(4.5)
WI		23.4		14.3		9.7		20.2		3.5		1.7		1.3		7.3		5.8		2.5		89.7		93.9	(3.1)	(9.8)	(4.4)
All Other		4.5		3.4		2.6		3.7		0.1		1.0		0.2		0.0		0.2		0.0		15.6		14.6	7.1	6.7	7.1
Total	$	665.3	$	419.3	$	325.4	$	298.0	$	116.0	$	86.4	$	23.3	$	258.3	$	231.0	$	69.4	$	2492.5	$	2505.5	0.5	(3.7)	(0.5)
Other Direct		0.8		1.4		0.6		4.8		0.3		0.0		0.0		0.6		2.6		1.4		12.3		14.8	(25.7)	16.2	(16.8)
Total Direct	$	666.1	$	420.7	$	326.1	$	302.8	$	116.3	$	86.4	$	23.3	$	258.9	$	233.6	$	70.8	$	2504.9	$	2520.3	0.3	(3.7)	(0.6)

2007 Third-Quarter Supplement


Cincinnati Insurance Group
Quarterly Property Casualty Data - By Commercial Lines of Business

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Commercial casualty:
Written premiums		$	179		$	218		$	245		$	204		$	196		$	209		$	228		$	462		$	437		$	641		$	634			$	838
Earned premiums			205			209			209			219			207			208			197			418			405			623			613				831
Loss and loss expenses ratio			63.7	%		54.6	%		53.5	%		58.8	%		49.4	%		51.8	%		51.3	%		54.2	%		51.6	%		57.4	%		50.8	%			53.0	%
Less catastrophe loss ratio			-			-			-			-			-			-			-			-			-			-			-				-
Loss and loss expenses excluding catastrophe loss ratio			63.7	%		54.6	%		53.5	%		58.8	%		49.4	%		51.8	%		51.3	%		54.2	%		51.6	%		57.4	%		50.8	%			53.0	%

Commercial property:
Written premiums		$	120		$	125		$	138		$	124		$	126		$	122		$	134		$	263		$	256		$	383		$	381			$	505
Earned premiums			125			125			123			123			123			123			121			248			244			373			367				491
Loss and loss expenses ratio			61.5	%		45.8	%		53.6	%		47.0	%		54.9	%		55.8	%		72.6	%		49.7	%		64.2	%		53.7	%		61.0	%			57.5	%
Less catastrophe loss ratio			(1.4)			3.2			6.9			7.1			9.9			15.9			22.7			5.0			19.3			2.9			16.1				13.9
Loss and loss expenses excluding catastrophe loss ratio			62.9	%		42.6	%		46.7	%		39.9	%		45.0	%		39.9	%		49.9	%		44.7	%		44.9	%		50.8	%		44.9	%			43.6	%

Commercial auto:
Written premiums		$	92		$	112		$	124		$	105		$	105		$	115		$	126		$	236		$	240		$	329		$	345			$	450
Earned premiums			108			110			113			116			113			112			112			223			224			331			337				453
Loss and loss expenses ratio			66.9	%		62.9	%		64.6	%		58.5	%		72.8	%		57.0	%		57.7	%		63.4	%		57.4	%		64.5	%		62.5	%			61.5	%
Less catastrophe loss ratio			0.4			-			(0.2)			0.6			(0.5)			3.1			0.6			-			1.9			0.1			1.0				0.9
Loss and loss expenses excluding catastrophe loss ratio			66.5	%		62.9	%		64.8	%		57.9	%		73.3	%		53.9	%		57.1	%		63.4	%		55.5	%		64.4	%		61.5	%			60.6	%

Workers' compensation:
Written premiums		$	84		$	92		$	113		$	91		$	85		$	91		$	111		$	206		$	203		$	289		$	288			$	379
Earned premiums			94			95			92			95			93			90			88			187			178			280			271				366
Loss and loss expenses ratio			82.0	%		66.8	%		76.5	%		89.3	%		90.3	%		83.1	%		78.6	%		71.5	%		80.8	%		75.0	%		84.1	%			85.4	%
Less catastrophe loss ratio			-			-			-			-			-			-			-			-			-			-			-				-
Loss and loss expenses excluding catastrophe loss ratio			82.0	%		66.8	%		76.5	%		89.3	%		90.3	%		83.1	%		78.6	%		71.5	%		80.8	%		75.0	%		84.1	%			85.4	%

Specialty package:
Written premiums		$	34		$	36		$	41		$	35		$	35		$	34		$	40		$	77		$	74		$	110		$	109			$	144
Earned premiums			36			37			36			35			35			35			36			73			71			109			106				141
Loss and loss expenses ratio			76.7	%		49.9	%		69.6	%		44.9	%		74.2	%		82.1	%		64.3	%		59.6	%		73.1	%		65.3	%		73.5	%			66.3	%
Less Catastrophe loss ratio			6.2			2.6			7.0			5.8			7.1			29.2			3.6			4.7			16.2			5.2			13.3				11.4
Loss and loss expenses excluding catastrophe loss ratio			70.5	%		47.3	%		62.6	%		39.1	%		67.1	%		52.9	%		60.7	%		54.9	%		56.9	%		60.1	%		60.2	%			54.9	%

Surety and executive risk:
Written premiums		$	28		$	23		$	25		$	23		$	28		$	24		$	22		$	48		$	46		$	76		$	74			$	97
Earned premiums			25			24			24			24			24			24			21			47			45			73			69				93
Loss and loss expenses ratio			36.5	%		49.3	%		24.0	%		36.3	%		47.3	%		89.6	%		26.5	%		36.7	%		60.1	%		36.7	%		55.6	%			50.7	%
Less catastrophe loss ratio			-			-			-			-			-			-			-			-			-			-			-				-
Loss and loss expenses excluding catastrophe loss ratio			36.5	%		49.3	%		24.0	%		36.3	%		47.3	%		89.6	%		26.5	%		36.7	%		60.1	%		36.7	%		55.6	%			50.7	%

Machinery and equipment:
Written premiums		$	7		$	7		$	7		$	7		$	7		$	8		$	7		$	14		$	15		$	22		$	22			$	29
Earned premiums			7			7			7			7			7			7			7			14			14			21			20				27
Loss and loss expense ratio			34.7	%		20.4	%		28.2	%		62.4	%		45.2	%		27.0	%		32.2	%		24.3	%		29.6	%		27.8	%		34.8	%			42.0	%
Less catastrophe loss ratio			1.3			-			(1.6)			(0.5)			2.1			-			-			(0.8)			0.1			(0.1)			0.8				0.4
Loss and loss expense excluding catastrophe loss ratio			33.4	%		20.4	%		29.8	%		62.9	%		43.1	%		27.0	%		32.2	%		25.1	%		29.5	%		27.9	%		34.0	%			41.6	%

Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.*

2007 Third-Quarter Supplement


Cincinnati Insurance Group
Quarterly Property Casualty Data - By Personal Lines of Business

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Personal auto:																								& nbsp;
Written premiums		$	92		$	93		$	72		$	79		$	96		$	104		$	79		$	164		$	184		$	256		$	279			$	359
Earned premiums			85			86			88			91			95			98			101			174			199			259			294				385
Loss and loss expenses ratio			67.7	%		67.6	%		66.5	%		74.3	%		60.6	%		65.8	%		60.1	%		67.1	%		62.9	%		67.3	%		62.2	%			65.0	%
Less catastrophe loss ratio			0.7			(0.3)			(2.3)			5.7			1.4			3.6			0.8			(1.3)			2.2			(0.6)			2.0				2.8
Loss and loss expenses excluding catastrophe loss ratio			67.0	%		67.9	%		68.8	%		68.6	%		59.2	%		62.2	%		59.3	%		68.4	%		60.7	%		67.9	%		60.2	%			62.2	%

Homeowner:																								& nbsp;
Written premiums		$	77		$	80		$	61		$	66		$	79		$	83		$	62		$	141		$	144		$	218		$	224			$	290
Earned premiums			70			72			71			70			72			74			73			143			146			214			219				289
Loss and loss expenses ratio			82.7	%		66.9	%		50.0	%		80.8	%		93.9	%		93.1	%		64.0	%		58.5	%		78.6	%		66.5	%		83.7	%			83.0	%
Less catastrophe loss ratio			15.6			8.3			(7.5)			36.0			15.0			33.1			11.1			0.4			22.1			5.4			19.8				23.7
Loss and loss expenses excluding catastrophe loss ratio			67.1	%		58.6	%		57.5	%		44.8	%		78.9	%		60.0	%		52.9	%		58.1	%		56.5	%		61.1	%		63.9	%			59.3	%

Other personal:																								& nbsp;
Written premiums		$	23		$	24		$	20		$	21		$	23		$	24		$	20		$	44		$	44		$	67		$	67			$	87
Earned premiums			22			22			22			22			22			22			22			43			45			65			66				88
Loss and loss expenses ratio			57.9	%		62.8	%		43.4	%		45.6	%		63.3	%		80.9	%		47.4	%		53.1	%		64.2	%		54.7	%		63.9	%			59.4	%
Less Catastrophe loss ratio			3.7			3.5			(0.1)			9.9			5.2			10.8			3.8			1.3			7.4			2.0			6.6				7.4
Loss and loss expenses excluding catastrophe loss ratio			54.2	%		59.3	%		43.5	%		35.7	%		58.1	%		70.1	%		43.6	%		51.8	%		56.8	%		52.7	%		57.3	%			52.0	%

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full
year as each is computed independently.

2007 Third-Quarter Supplement


Cincinnati Insurance Company
Quarterly Detailed Loss Analysis

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
All Lines
Loss and loss expenses:
Loss and loss expenses - current AY		$	558		$	484		$	472		$	539		$	526		$	468		$	414		$	956		$	882		$	1,515		$	1,407			$	1,947
Loss and loss expenses - prior AY's			(47)			(40)			(18)			(81)			(37)			(13)			18			(58)			5			(106)			(32)				(113)
Catastrophes - current AY			15			15			17			42			29			67			38			31			105			48			134				176
Catastrophes - prior AY's			(2)			(4)			(13)			2			(2)			(3)			1			(17)			(2)			(20)			(4)				(2)
Total		$	524		$	455		$	458		$	502		$	516		$	519		$	471		$	912		$	990		$	1,437		$	1,505			$	2,008
Ratio to Earned Premiums
Loss and loss expenses :
Loss and loss expenses - current AY			71.8	%		61.6	%		60.2	%		67.2	%		66.4	%		59.1	%		53.2	%		60.9	%		56.2	%		64.5	%		59.7	%			61.6	%
Loss and loss expenses - prior AY's			(6.1)			(5.1)			(2.3)			(10.1)			(4.7)			(1.7)			2.4			(3.7)			0.3			(4.5)			(1.3)				(3.6)
Catastrophes - current AY			2.0			1.9			2.1			5.2			3.7			8.5			4.9			2.0			6.7			2.0			5.7				5.6
Catastrophes - prior AY's			(0.3)			(0.5)			(1.7)			0.2			(0.2)			(0.5)			0.2			(1.1)			(0.2)			(0.9)			(0.2)				(0.1)
Total			67.4	%		57.9	%		58.3	%		62.5	%		65.2	%		65.4	%		60.7	%		58.1	%		63.0	%		61.1	%		63.9	%			63.5	%

Commercial Lines
Loss and loss expenses:
Loss and loss expenses - current AY		$	433		$	370		$	357		$	421		$	396		$	349		$	310		$	727		$	659		$	1,159		$	1,054			$	1,476
Loss and loss expenses - prior AY's			(38)			(40)			(13)			(64)			(33)			(15)			14			(53)			(1)			(91)			(34)				(98)
Catastrophes - current AY			5			8			13			9			15			35			28			21			63			27			78				87
Catastrophes - prior AY's			(4)			(3)			(3)			2			(1)			(1)			1			(6)			-			(10)			(1)				1
Total		$	396		$	335		$	354		$	368		$	377		$	368		$	353		$	689		$	721		$	1,085		$	1,097			$	1,466
Ratio to Earned Premiums
Loss and loss expenses:
Loss and loss expenses - current AY			72.2	%		60.9	%		59.0	%		68.1	%		65.7	%		58.3	%		53.3	%		60.0	%		55.8	%		64.0	%		59.2	%			61.4	%
Loss and loss expenses - prior AY's			(6.4)			(6.5)			(2.1)			(10.3)			(5.5)			(2.5)			2.5			(4.3)			0.0			(5.0)			(1.9)				(4.1)
Catastrophes - current AY			0.9			1.4			2.2			1.5			2.5			5.9			4.8			1.8			5.4			1.6			4.4				3.6
Catastrophes - prior AY's			(0.7)			(0.5)			(0.4)			0.3			(0.2)			(0.4)			0.2			(0.5)			(0.1)			(0.6)			(0.1)				-
Total			66.0	%		55.3	%		58.7	%		59.6	%		62.5	%		61.3	%		60.8	%		57.0	%		61.1	%		60.0	%		61.6	%			60.9	%

Personal Lines
Loss and loss expenses:
Loss and loss expenses - current AY		$	125		$	114		$	115		$	118		$	130		$	119		$	104		$	229		$	223		$	356		$	353			$	471
Loss and loss expenses - prior AY's			(9)			-			(5)			(17)			(4)			2			4			(5)			6			(15)			2				(15)
Catastrophes - current AY			10			7			4			33			14			32			10			10			42			21			56				89
Catastrophes - prior AY's			2			(1)			(10)			-			(1)			(2)			-			(11)			(2)			(10)			(3)				(3)
Total		$	128		$	120		$	104		$	134		$	139		$	151		$	118		$	223		$	269		$	352		$	408			$	542
Ratio to Earned Premiums
Loss and loss expenses:
Loss and loss expenses - current AY			70.5	%		63.3	%		64.4	%		64.9	%		68.8	%		61.5	%		53.1	%		63.8	%		57.3	%		66.1	%		61.0	%			61.9	%
Loss and loss expenses - prior AY's			(5.1)			-			(3.0)			(9.4)			(2.2)			0.8			2.0			(1.5)			1.4			(2.8)			0.3				(2.0)
Catastrophes - current AY			5.9			3.8			2.0			18.2			7.4			16.4			5.1			2.9			10.7			3.9			9.7				11.7
Catastrophes - prior AY's			1.1			(0.3)			(6.1)			(0.3)			(0.3)			(0.8)			(0.1)			(3.2)			(0.4)			(1.8)			(0.5)				(0.4)
Total			72.4	%		66.8	%		57.3	%		73.4	%		73.7	%		77.9	%		60.1	%		62.0	%		69.0	%		65.4	%		70.5	%			71.2	%

2007 Third-Quarter Supplement


Cincinnati Insurance Group
Quarterly Property Casualty Data - Consolidated

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Premiums
Adjusted written premiums (statutory)		$	779		$	808		$	811		$	785		$	787		$	804		$	796		$	1,619		$	1,600		$	2,399		$	2,387			$	3,172
Written premium adjustment – statutory only			(43)			2			35			(30)			(7)			10			33			37			43			(6)			36				6
Reported written premiums (statutory)*		$	736		$	810		$	846		$	755		$	780		$	814		$	829		$	1,656		$	1,643		$	2,392		$	2,423			$	3,178
Unearned premiums change			41			(23)			(61)			47			11			(21)			(51)			(85)			(72)			(44)			(61)				(14)
Earned premiums		$	777		$	787		$	785		$	802		$	791		$	793		$	778		$	1,571		$	1,571		$	2,348		$	2,362			$	3,164

Statutory combined ratio
Statutory combined ratio			98.7	%		87.7	%		87.7	%		95.9	%		96.4	%		93.7	%		89.6	%		87.7	%		91.7	%		91.3	%		93.2	%			93.9	%
Less catastrophe losses			1.7			1.4			0.4			5.5			3.5			8.0			5.0			0.9			6.5			1.2			5.5				5.5
Statutory combined ratio excluding catastrophe losses			97.0	%		86.3	%		87.3	%		90.4	%		92.9	%		85.7	%		84.6	%		86.8	%		85.2	%		90.1	%		87.7	%			88.4	%

Commission expense ratio			18.1	%		18.1	%		18.0	%		19.9	%		19.3	%		17.6	%		18.2	%		18.0	%		17.9	%		18.0	%		18.3	%			18.7	%
Other expense ratio			13.2			11.7			11.4			13.4			11.9			10.8			10.8			11.6			10.8			12.1			11.2				11.7
Statutory expense ratio			31.3	%		29.8	%		29.4	%		33.3	%		31.2	%		28.4	%		29.0	%		29.6	%		28.7	%		30.1	%		29.5	%			30.4	%
																																			&nb sp;
GAAP combined ratio
GAAP combined ratio			97.3	%		88.6	%		89.6	%		94.5	%		96.1	%		94.5	%		92.0	%		89.1	%		93.3	%		91.8	%		94.2	%			94.3	%

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.
*nm - Not meaningful
* Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


Cincinnati Insurance Group
Quarterly Property Casualty Data - Commercial Lines

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Premiums
Adjusted written premiums (statutory)		$	587		$	611		$	658		$	618		$	589		$	593		$	635		$	1,269		$	1,228		$	1,857		$	1,817			$	2,435
Written premium adjustment -- statutory only			(43)			2			35			(29)			(7)			10			33			37			43			(6)			36				7
Reported written premiums (statutory)*		$	544		$	613		$	693		$	589		$	582		$	603		$	668		$	1,306		$	1,271		$	1,851		$	1,853			$	2,442
Unearned premiums change			56			(6)			(89)			30			20			(4)			(86)			(96)			(90)			(41)			(70)				(40)
Earned premiums		$	600		$	607		$	604		$	619		$	602		$	599		$	582		$	1,210		$	1,181		$	1,810		$	1,783			$	2,402

Statutory combined ratio
Statutory combined ratio			97.3	%		84.4	%		86.5	%		92.4	%		94.1	%		89.6	%		87.5	%		85.4	%		88.6	%		89.2	%		90.3	%			90.8	%
Less catastrophe losses			0.2			0.8			1.8			1.9			2.3			5.6			5.1			1.3			5.3			0.9			4.3				3.7
Statutory combined ratio excluding catastrophe losses			97.1	%		83.6	%		84.7	%		90.5	%		91.8	%		84.0	%		82.4	%		84.1	%		83.3	%		88.3	%		86.0	%			87.1	%

GAAP combined ratio
GAAP combined ratio			95.4	%		85.2	%		88.9	%		91.1	%		93.4	%		90.3	%		90.5	%		87.0	%		90.4	%		89.8	%		91.4	%			91.3	%

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.
*nm - Not meaningful
* Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


Cincinnati Insurance Group
Quarterly Property Casualty Data - Personal Lines

(Dollars in millions)	Three months ended																						Six months ended						Nine months ended						Twelve months ended
	12/31/07	9/30/07			6/30/07			3/31/07			12/31/06			9/30/06			6/30/06			3/31/06			6/30/07			6/30/06			9/30/07			9/30/06			12/31/07	12/31/06
Premiums																									&nb sp;
Adjusted written premiums (statutory)		$	192		$	197		$	153		$	167		$	198		$	211		$	161		$	350		$	372		$	541		$	570			$	737
Written premium adjustment -- statutory only			-			-			-			(1)			-			-			-			-			-			-			-				(1)
Reported written premiums (statutory)*		$	192		$	197		$	153		$	166		$	198		$	211		$	161		$	350		$	372		$	541		$	570			$	736
Unearned premiums change			(15)			(17)			28			17			(9)			(17)			35			11			18			(3)			9				26
Earned premiums		$	177		$	180		$	181		$	183		$	189		$	194		$	196		$	361		$	390		$	538		$	579			$	762

Statutory combined ratio																									&nb sp;
Statutory combined ratio			103.6	%		98.6	%		93.5	%		107.7	%		104.0	%		106.4	%		98.1	%		95.8	%		101.6	%		98.3	%		102.3	%			103.6	%
Less catastrophe losses			7.0			3.5			(4.1)			17.9			7.1			15.6			5.0			(0.3)			10.3			2.1			9.2				11.3
Statutory combined ratio excluding catastrophe losses			96.6	%		95.1	%		97.6	%		89.8	%		96.9	%		90.8	%		93.1	%		96.1	%		91.3	%		96.2	%		93.1	%			92.3	%
																								& nbsp;
GAAP combined ratio																									&nb sp;
GAAP combined ratio			103.8	%		99.9	%		92.0	%		106.0	%		104.4	%		107.6	%		96.4	%		96.0	%		102.0	%		98.6	%		102.8	%			103.6	%

*Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.
*nm - Not meaningful
* Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


The Cincinnati Life Insurance Company
GAAP Statements of Income

	For the Three Months Ended September 30,							For the Nine Months Ended September 30,
		2007		2006		Change	% Change		2007		2006		Change	% Change
Revenues:
Premiums earned:
Property casualty	$	-	$	-	$	-	-	$	-	$	-	$	-	-
Life		42,395,592		36,294,277		6,101,315	16.81		124,663,788		109,318,969		15,344,819	14.04
Accident health		1,776,832		1,709,173		67,659	3.96		5,141,122		4,948,521		192,601	3.89
Premiums ceded		(10,295,186)		(10,455,847)		160,661	(1.54)		(30,134,044)		(30,688,997)		554,953	(1.81)
Total premiums earned		33,877,238		27,547,603		6,329,635	22.98		99,670,866		83,578,493		16,092,373	19.25
Investment income		28,515,819		27,213,672		1,302,147	4.78		84,594,298		80,603,825		3,990,473	4.95
Realized investment gains and losses		(117,732)		(256,745)		139,013	(54.14)		51,750,857		42,327,225		9,423,632	22.26
Other income		1,141,955		755,639		386,316	51.12		3,461,706		2,559,919		901,787	35.23
Total revenues	$	63,417,280	$	55,260,169	$	8,157,111	14.76	$	239,477,727	$	209,069,462	$	30,408,265	14.54


Benefits & expenses:
Losses & policy benefits	$	45,763,373	$	42,750,492	$	3,012,881	7.05	$	127,869,309	$	118,288,412	$	9,580,897	8.10
Reinsurance recoveries		(9,507,506)		(9,728,222)		220,716	(2.27)		(29,654,500)		(26,705,298)		(2,949,202)	11.04
Commissions		8,388,628		8,434,879		(46,251)	(0.55)		26,401,514		25,670,653		730,861	2.85
Other operating expenses		7,831,539		6,877,898		953,641	13.87		23,381,966		19,784,207		3,597,759	18.19
Interest expense		-		-		-	-		-		-		-	-
Taxes, licenses & fees		930,560		394,060		536,500	136.15		2,756,613		2,144,949		611,664	28.52
Incr deferred acq expense		(2,402,358)		(6,544,407)		4,142,049	(63.29)		(8,730,977)		(14,237,700)		5,506,723	(38.68)
Other expenses		-		(1)		1	-		108		108		-	0.00
Total expenses	$	51,004,236	$	42,184,699	$	8,819,537	20.91	$	142,024,033	$	124,945,331	$	17,078,702	13.67


Income before income taxes	$	12,413,044	$	13,075,470	$	(662,426)	(5.07)	$	97,453,694	$	84,124,131	$	13,329,563	15.85

Provision for income taxes:
Current	$	1,076,018	$	(33,442)	$	1,109,460	(3,317.56)	$	4,508,915	$	5,319,857	$	(810,942)	(15.24)
Current capital gains/losses		(22,206)		27,139		(49,345)	(181.82)		18,257,800		14,931,529		3,326,271	22.28
Deferred		3,171,530		4,382,846		(1,211,316)	(27.64)		10,914,527		9,777,623		1,136,904	11.63
Total income taxes	$	4,225,342	$	4,376,543	$	(151,201)	(3.45)	$	33,681,242	$	30,029,009	$	3,652,233	12.16

Net income	$	8,187,702	$	8,698,927	$	(511,225)	(5.88)	$	63,772,452	$	54,095,122	$	9,677,330	17.89

2007 Third-Quarter Supplement


The Cincinnati Life Insurance Company
Statutory Statements of Income

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
		2007		2006	% Change		2007		2006	% Change

Net premiums written	$	36,952,328	$	37,886,042	(2.46)	$	119,900,032	$	115,332,247	3.96
Net investment income		28,518,609		27,213,672	4.80		84,607,029		80,603,825	4.97
Amortization of interest maintenance reserve		(716,933)		17,827	(4,121.60)		(727,925)		100,277	(825.92)
Commissions and expense allowances on reinsurance ceded		1,945,861		1,834,459	6.07		6,464,843		5,778,763	11.87
Income from fees associated with Separate Accounts		1,141,955		755,639	51.12		3,461,706		2,559,919	35.23
Total revenues	$	67,841,820	$	67,707,638	0.20	$	213,705,685	$	204,375,031	4.57

Death benefits and matured endowments	$	10,205,681	$	9,459,133	7.89	$	27,252,513	$	30,097,582	(9.45)
Annuity benefits		11,176,827		10,463,908	6.81		28,828,501		26,619,650	8.30
Disability benefits and benefits under accident and health contracts		638,935		556,563	14.80		1,631,352		1,215,340	34.23
Surrender benefits and group conversions		6,406,696		4,468,607	43.37		17,479,044		16,260,645	7.49
Interest and adjustments on deposit-type contract funds		2,322,816		2,259,707	2.79		6,722,093		7,014,565	(4.17)
Increase in aggregate reserves for life and accident and health contracts		16,724,962		26,543,268	(36.99)		71,711,184		71,899,714	(0.26)
Payments on supplementary contracts with life contingencies		86,811		77,577	11.90		258,824		231,661	11.73
Total benefit expenses	$	47,562,728	$	53,828,763	(11.64)	$	153,883,511	$	153,339,156	0.36

Commissions	$	8,283,629	$	8,319,379	(0.43)	$	26,016,514	$	25,355,653	2.61
General insurance expenses and taxes		9,797,137		7,487,053	30.85		29,278,421		24,214,800	20.91
Increase in loading on deferred and uncollected premiums		(1,525,841)		(1,506,574)	1.28		(5,337,160)		(4,478,863)	19.16
Net transfers to or (from) Separate Accounts		-		-	-		(215,913)		(211,220)	2.22
Other deductions		-		-	-		108		109	(0.59)
Total operating expenses	$	16,554,925	$	14,299,858	15.77	$	49,741,970	$	44,880,478	10.83

Federal and Foreign Income Taxes Incurred		886,409		219,114	304.54		4,447,095		5,022,716	(11.46)

Net gain from operations before realized capital gains or (losses)	$	2,837,758	$	(640,097)	(543.33)	$	5,633,109	$	1,132,681	397.33

Net realized gains or (losses) net of capital gains tax		2,604,683		(57,569)	N/A		37,332,560		27,640,006	35.07

Net Income (Statutory)	$	5,442,441	$	(697,666)	(880.09)	$	42,965,669	$	28,772,687	49.33

* Statutory data prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners and filed with the appropriate regulatory bodies.

2007 Third-Quarter Supplement


The Cincinnati Life Insurance Company
Expenses as a Percentage of Premium

(Dollars in millions)	Three months ended																								Six months ended						Nine months ended						Twelve months ended
	12/31/07			09/30/07			06/30/07			03/31/07			12/31/06			09/30/06			06/30/06			03/31/06			06/30/07			06/30/06			09/30/07			09/30/06			12/31/07	12/31/06
Gross Written Premiums				$	49		$	54		$	53		$	54		$	50		$	51		$	50		$	107		$	101		$	156		$	152			$	206
Bank Owned Life Insurance (BOLI) Adjustment					-			-			-			-			-			-			-			-			-			-			-				-
Adjusted Gross Written Premiums				$	49		$	54		$	53		$	54		$	50		$	51		$	50		$	107		$	101		$	156		$	152			$	206

Insurance Expense				$	8		$	9		$	9		$	10		$	7		$	7		$	7		$	18		$	14		$	26		$	21			$	31

Expense Ratio					16.3	%		16.7	%		17.7	%		17.8	%		14.7	%		13.5	%		14.5	%		16.8	%		14.0	%		16.7	%		14.0	%			15.0	%
Expense Ratio based on Adjusted Gross Written Premium					16.3	%		16.7	%		17.7	%		17.8	%		14.7	%		13.5	%		14.5	%		16.8	%		14.0	%		16.7	%		14.0	%			15.0	%



(Dollars in millions)	Years ended December 31,
	2006			2005			2004			2003			2002			2001			2000
Gross Written Premiums	$	206		$	249		$	230		$	173		$	244		$	122		$	157
Bank Owned Life Insurance (BOLI) Adjustment		-			-			(10)			-			(34)			-			(20)
Adjusted Gross Written Premiums	$	206		$	249		$	220		$	173		$	210		$	122		$	137

Insurance Expense	$	31		$	29		$	25		$	25		$	27		$	25		$	20

Expense Ratio		15.0	%		11.7	%		11.1	%		14.8	%		10.9	%		20.6	%		12.9	%
Expense Ratio based on Adjusted Gross Written Premium		15.0	%		11.7	%		11.6	%		14.8	%		12.6	%		20.6	%		14.8	%


* Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. Ratios are calculated based on whole dollar amounts. The sum of quarterly amounts may not equal the full year as each is computed independently.

2007 Third-Quarter Supplement

Request Electronic Delivery

If you are a shareholder, consider enrolling in Electronic Delivery. You will receive email alerts instead of paper mailings, saving your company's dollars.

Receive Email Alerts

When the company posts new information to this site, you can receive instant email alerts.
Sign up now!