CINF 10-K Annual Report Dec. 31, 2024 | Alphaminr
CINCINNATI FINANCIAL CORP
ALPHAMINR

CINF 10-K Fiscal year ended Dec. 31, 2024

Balance Sheet
Cash Flow
Income Statement
Debt
CINCINNATI FINANCIAL CORP
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TABLE OF CONTENTS
Part IprintItem 1. BusinessprintItem 1A. Risk FactorsprintItem 1B. Unresolved Staff CommentsprintItem 1C. CybersecurityprintItem 2. PropertiesprintItem 3. Legal ProceedingsprintItem 4. Mine Safety DisclosuresprintPart IIprintItem 5. Market For The Registrant S Common Equity, Related Stockholder Matters andprintItem 6. [reserved]printItem 7. Management's Discussion and Analysis Of Financial Condition andprintItem 7A. Quantitative and Qualitative Disclosures About Market RiskprintItem 8. Financial Statements and Supplementary DataprintNote 1 Summary Of Significant Accounting PoliciesprintNote 2 InvestmentsprintNote 3 Fair Value MeasurementsprintNote 4 Property Casualty Loss and Loss ExpensesprintNote 5 Life Policy and Investment Contract ReservesprintNote 6 Deferred Policy Acquisition CostsprintNote 7 Note PayableprintNote 8 Long-term Debt and Lease ObligationsprintNote 9 Shareholders Equity and Dividend RestrictionsprintNote 10 ReinsuranceprintNote 11 Income TaxesprintNote 12 Net Income (loss) Per Common ShareprintNote 13 Employee Retirement BenefitsprintNote 14 Statutory Accounting InformationprintNote 15 Transactions with Affiliated PartiesprintNote 16 Commitments and Contingent LiabilitiesprintNote 17 Share-based Associate Compensation PlansprintNote 18 Segment InformationprintItem 9. Changes in and Disagreements with Accountants onprintItem 9A. Controls and ProceduresprintItem 9B. Other InformationprintItem 9C. Disclosure Regarding Foreign Jurisdictions That Prevent InspectionsprintPart IIIprintItem 10. Directors, Executive Officers and Corporate GovernanceprintItem 11. Executive CompensationprintItem 12. Security Ownership Of Certain Beneficial Owners and Management andprintItem 13. Certain Relationships and Related Transactions, and Director IndependenceprintItem 14. Principal Accounting Fees and ServicesprintPart IVprintItem 15. Exhibit and Financial Statement SchedulesprintItem 16. Form 10-k Summaryprint

Exhibits

3.1 Amended and Restated Articles of Incorporation of Cincinnati Financial Corporation (incorporated by reference to Exhibit 3.1 filed with the companys Quarterly Report on Form 10-Q filed on October 26, 2017) 3.2 Amended and Restated Code of Regulations of Cincinnati Financial Corporation, as of May 6, 2023 (incorporated by reference to Exhibit 3.1 filed with the companys Current Report on Form 8-K filed on May 9, 2023) 10.1 Cincinnati Financial Corporation Nonemployee Director Stock Plan of 2018 (incorporated by reference to the companys definitive Proxy Statement dated March 21, 2018) 10.2 First Amendment to Cincinnati Financial Corporation Nonemployee Director Stock Plan of 2018 (incorporated by reference to Exhibit 10.2 filed with the companys Annual Report on Form 10-K filed on February 25, 2021) 10.3 Cincinnati Financial Corporation Nonemployee Director Deferred Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the companys Annual Report on Form 10-K filed on February 25, 2021) 10.4 Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 29, 2021 (incorporated by reference to Exhibit 10.6 filed with the company's Annual Report on Form 10-K filed on February 25, 2021) 10.5 Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 28, 2022 (incorporated by reference to the companys Exhibit 10.6 filed with the companys Annual Report on Form 10-K filed on February 24, 2022) 10.6 Cincinnati Financial Corporation 2006 Stock Compensation Plan (incorporated by reference to the companys definitive Proxy Statement dated March 30, 2006, Appendix B) 10.7 Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to the companys definitive Proxy Statement dated March 16, 2012, Appendix A) 10.8 Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to the companys Definitive Proxy Statement dated March 16, 2016, Appendix B) 10.9 First Amendment of Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 99.1 filed with the Companys current report on Form 8-K filed on April11,2016) 10.10 Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to the company's definitive Proxy Statement dated March 20, 2024, Appendix B) 10.11 Amended and Restated Cincinnati Financial Corporation Supplemental Retirement Plan dated January1, 2009 (incorporated by reference to Exhibit 10.7 filed with the companys Annual Report on Form 10-K dated February 27, 2013) 10.12 Form of Incentive Stock Option Agreement for the 2006 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the companys Current Report on Form 8-K filed on October26,2006) 10.13 Form of Nonqualified Stock Option Agreement for the 2006 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the companys Current Report on Form 8-K filed on October26,2006) 10.14 Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.1 filed with the companys Current Report on Form 8-K filed on February 21, 2013) 10.15 Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.2 filed with the companys Current Report on Form 8-K filed on February 21, 2013) 10.16 Form of Incentive Compensation Agreement for the Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009 (as amended January 31, 2014) (incorporated by reference to Exhibit 10.1 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.17 Form of Incentive Compensation Agreement for the Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 29, 2022 (incorporated by reference to Exhibit 10.1 filed with the companys Current Report on Form 8-K filed on January 29, 2024) 10.18 Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.2 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.19 Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.20 Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.7 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.21 Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.8 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.22 Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.9 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.23 Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.2 filed with the companys Current Report on Form 8-K filed on January 29, 2024) 10.24 Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.10 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.25 Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.3 filed with the companys Current Report on Form 8-K filed on January 29, 2024) 10.26 Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.11 filed with the companys Current Report on Form 8-K filed on January 30, 2017) 10.27 Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.4 filed with the companys Current Report on Form 8-K filed on January 29, 2024) 10.28 Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.1 filed with the company's Current Report on Form 8-K filed on January 31, 2025) 10.29 Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.2 filed with the company's Current Report on Form 8-K filed on January 31, 2025) 10.30 Form of Restricted Stock Option Agreement (service based/cliff) for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company's Current Report on Form 8-K filed on January 31, 2025) 10.31 Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company's Current Report on Form 8-K filed on January 31, 2025) 10.32 Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.5 filed with the company's Current Report on Form 8-K filed on January 31, 2025) 10.33 Amended and Restated Cincinnati Financial Corporation Top Hat Savings Plan dated January1,2018 (incorporated by reference to Exhibit 10.31 filed with the company's Annual Report on Form 10-K filed on February 23, 2018) 10.34 First Amendment to the Amended and Restated Cincinnati Financial Corporation Top Hat Savings Plan dated January 1, 2018 (incorporated by reference to Exhibit 10.1 filed with the company's Quarterly Report on Form 10-Q filed on July 25, 2024) 10.35 Cincinnati Financial Corporation Executive Deferred Compensation Agreement by and between the Cincinnati Financial Corporation and Michael J. Sewell, dated as of October 25, 2011 (incorporated by reference to Exhibit 10.2 filed with the companys Quarterly Report on Form 10-Q filed on October 27, 2011) 10.36 Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A. as Administrative Agent, PNC Capital Markets LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A., as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A., as Documentation Agents, dated May13,2014 (incorporated by reference to Exhibit 10.1 filed with the companys Current Report on Form 8-K filed on May14,2014) 10.37 First Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A. as Administrative Agent, PNC Capital Markets LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A., as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A., as Documentation Agents, dated February 8, 2016 (incorporated by reference to Exhibit 10.1 filed with the companys Current Report on Form 8-K filed on February 11, 2016) 10.38 Second Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., as Administrative Agent, PNC Capital Markets, LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A. as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A. as Documentation Agents, dated March 31, 2016 (incorporated by reference to Exhibit 10.1 filed with the companys Current Report on Form 8-K filed on April 4, 2016) 10.39 Third Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., as Administrative Agent, PNC Capital Markets, LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A. as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A. as Documentation Agents, dated February 4, 2019 (incorporated by reference to Exhibit 10.1 filed with the company's Current Report on Form 8-K filed on February 6, 2019) 10.40 Fourth Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., as Administrative Agent, PNC Capital Markets, LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A. as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A. as Documentation Agents, dated February 26, 2019 (incorporated by reference to Exhibit 10.6 filed with the companys Current Report on Form 8-K filed on February 28, 2019) 10.41 Fifth Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., as Administrative Agent, PNC Capital Markets, LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A. as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A. as Documentation Agents, dated March 23, 2023 (incorporated by reference to Exhibit 10.1 filed with the companys Current Report on Form 8-K filed on March 24, 2023) 10.42 Limited Consent to Credit Agreement, dated December 6, 2019, among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., Fifth Third Bank, N.A., The Huntington National Bank, U.S. Bank, N.A., and Branch Banking and Trust Company (incorporated by reference to Exhibit 10.6 filed with the companys Current Report on Form 8-K, filed on December 6, 2019) 10.43 Limited Consent to Credit Agreement, dated December 11, 2020, among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., Fifth Third Bank, N.A., The Huntington National Bank, U.S. Bank, N.A., and Branch Banking and Trust Company (incorporated by reference to Exhibit 10.7 filed with the companys Current Report on Form 8-K, filed on December 11, 2020) 19 Cincinnati Financial Corporation Securities Trading Policy And Addendum to Securities Trading Policy For Pre-Clearance And Blackout Procedures (incorporated by reference to Exhibit 19 filed with the company's Annual Report on Form 10-K filed on February 26, 2024) 23 Consent of Independent Registered Public Accounting Firm 31A Certification pursuant to Section 302 of the Sarbanes Oxley Act of 2002 Chief Executive Officer 31B Certification pursuant to Section 302 of the Sarbanes Oxley Act of 2002 ChiefFinancialOfficer 32 Certification pursuant to Section 906 of the Sarbanes Oxley Act of 2002 97 Cincinnati Financial Corporation Policy For The Recovery of Erroneously Awarded Compensation (incorporated by reference to Exhibit 97 filed with the company's Annual Report on Form 10-K filed on February 26, 2024)