Cincinnati Financial swings to quarterly loss on California wildfire woes
Peers' profits were also dented, including Hartford Insurance Group's, which more than doubled catastrophe losses, according to its quarterly report last week. Fairfield, Ohio-based Cincinnati Financial said that its after-tax catastrophe losses rose by $356 million in the reported quarter. However, CEO Stephen Spray said that the company was prepared "for the unprecedented losses our policyholders suffered from the wildfires in California."