Cincinnati Financial, a company engaged in property casualty insurance business in the US, has posted a net income of $27m, or $0.17 per diluted share, for the second quarter ended June 30, 2010, compared to a net loss of $19m, or $0.12 per diluted share, for the same period last year.
The company has reported total revenues of $878m for the second quarter of 2010 which is a slight increase compared to $874m for the same quarter in 2009.
Cincinnati Financial posted operating income of $42m for the second quarter of 2010 compared to an operating loss of $5m for the same period last year.
The company posted premiums earned of $768m for the second quarter of 2010, compared to $770m for the corresponding quarter of 2009.
Kenneth Stecher, president and CEO of Cincinnati Financial, said: “The second quarter brought reasonable premium growth, a narrower underwriting loss and solid growth of investment income over last year’s low point.
“Our position and results as of June 30 showed that we are poised for improved results in our insurance operations, independent of the still-awaited turn in the commercial insurance marketplace.”