CINCINNATI FINANCIAL CORP
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 23, 2026
CINF$185.48-1.5%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
2025 ANNUAL REPORT ON FORM 10-K
TABLE OF CONTENTS
| Part I | 5 | |
|---|---|---|
| Item 1. | Business | 5 |
| Cincinnati Financial Corporation – Introduction | 5 | |
| Our Business and Our Strategy | 6 | |
| Our Segments | 14 | |
| Other | 25 | |
| Regulation | 26 | |
| Item 1A. | Risk Factors | 30 |
| Item 1B. | Unresolved Staff Comments | 41 |
| Item 1C. | Cybersecurity | 41 |
| Item 2. | Properties | 42 |
| Item 3. | Legal Proceedings | 42 |
| Item 4. | Mine Safety Disclosures | 42 |
| Part II | 43 | |
| Item 5. | Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 43 |
| Item 6. | [Reserved] | 44 |
| Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 45 |
| Introduction | 45 | |
| Executive Summary | 46 | |
| Critical Accounting Estimates | 49 | |
| Recent Accounting Pronouncements | 56 | |
| Financial Results | 57 | |
| Liquidity and Capital Resources | 89 | |
| Safe Harbor Statement | 106 | |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk | 109 |
| Item 8. | Financial Statements and Supplementary Data | 115 |
| Responsibility for Financial Statements | 115 | |
| Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34) | 117 | |
| Consolidated Balance Sheets | 119 | |
| Consolidated Statements of Income | 120 | |
| Consolidated Statements of Comprehensive Income | 121 | |
| Consolidated Statements of Shareholders’ Equity | 122 | |
| Consolidated Statements of Cash Flows | 123 | |
| Notes to Consolidated Financial Statements | 124 |
Cincinnati Financial Corporation - 2025 10-K - Page 3
| Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 175 |
|---|---|---|
| Item 9A. | Controls and Procedures | 175 |
| Item 9B. | Other Information | 175 |
| Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 175 |
| Part III | 176 | |
| Item 10. | Directors, Executive Officers and Corporate Governance | 176 |
| Item 11. | Executive Compensation | 178 |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 178 |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 179 |
| Item 14. | Principal Accounting Fees and Services | 179 |
| Part IV | 180 | |
| Item 15. | Exhibit and Financial Statement Schedules | 180 |
Cincinnati Financial Corporation - 2025 10-K - Page 4
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.