US p/c insurer Cincinnati Financial...
... swung to a Q2 net loss of $19m from year-earlier net income of $63m, as storm-related claims raised its underwriting loss more than five times to $122m and investment income fell 8.4% to $119m. For the six months, net income fell 20% to $17m owing to an underwriting loss of $177m, 11 times the year-earlier figure, and investment income fell 14% to $243m. With the larger underwriting loss, the H1 combined ratio rose to 112.1% from 101.1% on earned premiums of $154bn, down 2.5%.
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