Cincinnati Financial Corp. has reported a net income of $134m, or $0.83 diluted earnings per share, for the fourth quarter of 2011, compared to $126m, or $0.78 diluted earnings per share, for the same period in 2010.
Operating income was $139m, or $0.86 diluted income per share, for the fourth quarter of 2011, compared to $113m, or $0.70 diluted income per share, for the same period a year ago.
The company said net income and operating income for the fourth quarter of 2011 benefited from property casualty insurance profits that were up by $31m after taxes.
Total revenues increased 2% to $955m, compared to $936m for the same period in the prior year.
Earned premiums rose 6% to $827m, compared to $783m for the same period in the previous year.
Cincinnati Financial president and CEO Steven Johnston said that their main underwriting business of property & casualty insurance profits rose to $98m before taxes, this was the first underwriting profit for any 2011 quarter.