Item 15. Exhibits, Financial Statement Schedules

a) Financial Statements – information contained in Part II, Item 8, of this report, Page 112 to Page 166

b) Exhibits – see Index of Exhibits, Page 184

c) Financial Statement Schedules

Schedule I – Summary of Investments – Other Than Investments in Related Parties, Page 172

Schedule II – Condensed Financial Statements of Parent Company, Page 174

Schedule III – Supplementary Insurance Information, Page 178

Schedule IV – Reinsurance, Page 180

Schedule V – Valuation and Qualifying Accounts, Page 181

Schedule VI – Supplementary Information Concerning Property Casualty Insurance Operations, Page 182

Cincinnati Financial Corporation - 2017 10-K - Page 171

Schedule I

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)		At December 31, 2017
Type of investment		Cost or amortized cost				Fair value				Balance sheet
Fixed maturities:
States, municipalities and political subdivisions:
The Cincinnati Insurance Company		$	3,310			$	3,421			$	3,421
The Cincinnati Casualty Company		184				190				190
The Cincinnati Indemnity Company		44				46				46
The Cincinnati Life Insurance Company		306				320				320
The Cincinnati Specialty Underwriters Insurance Company		469				485				485
CSU Producer Resources Inc.		1				1				1
Cincinnati Financial Corporation		2				2				2
Total		4,316				4,465				4,465
United States government:
The Cincinnati Insurance Company		28				28				28
The Cincinnati Casualty Company		2				2				2
The Cincinnati Indemnity Company		1				1				1
Total		31				31				31
Government-sponsored enterprises:
The Cincinnati Life Insurance Company		257				254				254
Total		257				254				254
Foreign government:
The Cincinnati Insurance Company		10				10				10
Total		10				10				10
All other corporate bonds:
The Cincinnati Insurance Company		2,644				2,747				2,747
The Cincinnati Casualty Company		99				104				104
The Cincinnati Indemnity Company		28				29				29
The Cincinnati Specialty Underwriters Insurance Company		137				143				143
The Cincinnati Life Insurance Company		2,758				2,880				2,880
CSU Producer Resources Inc.		1				1				1
Cincinnati Financial Corporation		33				35				35
Total		5,700				5,939				5,939
Total fixed maturities		$	10,314			$	10,699			$	10,699

Cincinnati Financial Corporation - 2017 10-K - Page 172

Schedule I (continued)

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)		At December 31, 2017
Type of investment		Cost or amortized cost				Fair value				Balance sheet
Equity securities:
Common equities:
The Cincinnati Insurance Company		$	1,615			$	3,479			$	3,479
The Cincinnati Casualty Company		56				118				118
The Cincinnati Indemnity Company		13				25				25
The Cincinnati Specialty Underwriters Insurance Company		61				120				120
CSU Producer Resources Inc.		15				23				23
Cincinnati Financial Corporation		1,158				2,274				2,274
Total		2,918				6,039				6,039
Nonredeemable preferred equities:
The Cincinnati Insurance Company		170				200				200
The Cincinnati Life Insurance Company		5				9				9
Cincinnati Financial Corporation		1				1				1
Total		176				210				210
Total equity securities		$	3,094			$	6,249			$	6,249
Other invested assets:
Policy loans:
The Cincinnati Life Insurance Company		$	31			—				$	31
Private equity:
Cincinnati Financial Corporation (1)		29				—				29
The Cincinnati Life Insurance Company (1)		6				—				6
Real estate:
The Cincinnati Life Insurance Company (1)		31				—				31
Cincinnati Financial Corporation (1)		6				—				6
Total other invested assets		$	103			—				$	103
Total investments		$	13,511			—				$	17,051

Notes to Schedule I:

(1) These other invested assets are accounted for under the equity method.

Cincinnati Financial Corporation - 2017 10-K - Page 173

Schedule II

Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions)		At December 31,
		2017				2016
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2017—$35; 2016—$46)		$	37			$	52
Equity securities, at fair value (cost: 2017—$1,159; 2016—$1,084)		2,275				1,833
Other invested assets		35				29
Total investments		2,347				1,914
Cash and cash equivalents		199				248
Equity in net assets of subsidiaries		6,542				5,790
Investment income receivable		8				8
Land, building and equipment, net, for company use (accumulated depreciation: 2017—$115; 2016—$111)		130				132
Income tax receivable		15				10
Other assets		52				35
Due from subsidiaries		107				106
Total assets		$	9,400			$	8,243
Liabilities
Dividends declared but unpaid		$	82			$	79
Deferred federal income tax		234				252
Long-term debt		787				787
Other liabilities		54				65
Total liabilities		1,157				1,183
Shareholders' Equity
Common stock		397				397
Paid-in capital		1,265				1,252
Retained earnings		5,180				5,037
Accumulated other comprehensive income		2,788				1,693
Treasury stock at cost		(1,387		)		(1,319		)
Total shareholders' equity		8,243				7,060
Total liabilities and shareholders' equity		$	9,400			$	8,243

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Cincinnati Financial Corporation - 2017 10-K - Page 174

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Revenues
Investment income, net of expenses		$	62			$	56			$	53
Realized investment gains and (losses), net		28				27				(19		)
Other revenue		15				15				15
Total revenues		105				98				49
Expenses
Interest expense		52				52				52
Other expenses		28				27				28
Total expenses		80				79				80
Income (Loss) Before Income Taxes and Earnings of Subsidiaries		25				19				(31		)
Benefit for income taxes		(161		)		(6		)		(23		)
Net Income (Loss) Before Earnings of Subsidiaries		186				25				(8		)
Increase in equity of subsidiaries		859				566				642
Net Income		$	1,045			$	591			$	634

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Cincinnati Financial Corporation - 2017 10-K - Page 175

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Comprehensive Income
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Net Income		$	1,045			$	591			$	634
Other Comprehensive Income, Before Tax
Unrealized gains and (losses) on investments available for sale		391				221				(111		)
Unrealized gains and (losses) on investments held by subsidiaries		672				434				(444		)
Reclassification adjustment for (gains) and losses included in net income		(28		)		(27		)		19
Reclassification adjustment for (gains) included in net income on subsidiaries		(120		)		(97		)		(89		)
Unrealized (losses) and gains on other		(2		)		(6		)		—
Unrealized gains and (losses) on other subsidiaries		1				(4		)		13
Unrealized gains and (losses) on investments available for sale, investments held by subsidiaries and other		914				521				(612		)
Amortization of pension actuarial gains (losses) and prior service cost		14				16				(6		)
Other comprehensive income (loss) before tax		928				537				(618		)
Income taxes on above of other comprehensive income (loss)		325				188				(218		)
Other comprehensive income (loss), net of tax		603				349				(400		)
Comprehensive Income		$	1,648			$	940			$	234

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Cincinnati Financial Corporation - 2017 10-K - Page 176

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Cash Flows From Operating Activities
Net income		$	1,045			$	591			$	634
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		7				6				7
Realized investment (gains) and losses, net		(28		)		(27		)		19
Dividends from subsidiaries		465				475				447
Changes in:
Increase in equity of subsidiaries		(859		)		(566		)		(642		)
Investment income receivable		—				(2		)		—
Current federal income taxes		(5		)		(4		)		(7		)
Deferred income tax		(150		)		8				(10		)
Other assets		(20		)		(4		)		(3		)
Other liabilities		15				(1		)		13
Intercompany receivable for operations		13				20				16
Net cash provided by operating activities		483				496				474
Cash Flows From Investing Activities
Call or maturity of fixed maturities		14				5				8
Sale of equity securities		230				135				54
Purchase of fixed maturities		(2		)		—				—
Purchase of equity securities		(293		)		(175		)		(110		)
Investment in buildings and equipment		(3		)		(2		)		—
Change in other invested assets, net		—				6				1
Net cash used in investing activities		(54		)		(31		)		(47		)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders		(400		)		(306		)		(366		)
Shares acquired - share repurchase authorization		(92		)		(39		)		(53		)
Proceeds from stock options exercised		13				21				24
Other		1				1				2
Net cash used in financing activities		(478		)		(323		)		(393		)
Net change in cash and cash equivalents		(49		)		142				34
Cash and cash equivalents at beginning of year		248				106				72
Cash and cash equivalents at end of year		$	199			$	248			$	106

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Cincinnati Financial Corporation - 2017 10-K - Page 177

Schedule III

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Deferred policy acquisition costs:
Commercial lines insurance		$	284			$	271			$	264
Personal lines insurance		121				110				103
Excess and surplus lines insurance		17				16				15
Cincinnati Re		16				11				6
Total property casualty insurance		438				408				388
Life insurance		232				229				228
Total		$	670			$	637			$	616
Gross future policy benefits, losses, claims and expense losses:
Commercial lines insurance		$	4,236			$	4,179			$	3,925
Personal lines insurance		587				569				498
Excess and surplus lines insurance		264				241				227
Cincinnati Re		132				46				10
Total property casualty insurance		5,219				5,035				4,660
Life insurance		2,753				2,693				2,605
Total (1)		$	7,972			$	7,728			$	7,265
Gross unearned premiums:
Commercial lines insurance		$	1,548			$	1,510			$	1,472
Personal lines insurance		683				629				593
Excess and surplus lines insurance		105				93				87
Cincinnati Re		67				74				48
Total property casualty insurance		2,403				2,306				2,200
Life insurance		1				1				1
Total (1)		$	2,404			$	2,307			$	2,201
Other policy claims and benefits payable:
Commercial lines insurance		$	—			$	—			$	—
Personal lines insurance		—				—				—
Excess and surplus lines insurance		—				—				—
Cincinnati Re		—				—				—
Total property casualty insurance		—				—				—
Life insurance		30				28				36
Total (1)		$	30			$	28			$	36
Earned premiums:
Commercial lines insurance		$	3,165			$	3,089			$	2,996
Personal lines insurance		1,241				1,161				1,097
Excess and surplus lines insurance		209				183				168
Cincinnati Re		107				49				10
Total property casualty insurance		4,722				4,482				4,271
Life insurance		232				228				209
Total		$	4,954			$	4,710			$	4,480

Cincinnati Financial Corporation - 2017 10-K - Page 178

Schedule III (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Investment income, net of expenses:
Commercial lines insurance		$	—			$	—			$	—
Personal lines insurance		—				—				—
Excess and surplus lines insurance		—				—				—
Cincinnati Re		—				—				—
Total property casualty insurance (2)		392				384				368
Life insurance		155				155				150
Total		$	547			$	539			$	518
Benefits, claims losses and settlement expenses:
Commercial lines insurance		$	2,042			$	1,928			$	1,708
Personal lines insurance		918				840				789
Excess and surplus lines insurance		86				68				70
Cincinnati Re		92				25				5
Total property casualty insurance		3,138				2,861				2,572
Life insurance		252				246				236
Total		$	3,390			$	3,107			$	2,808
Amortization of deferred policy acquisition costs:
Commercial lines insurance		$	590			$	570			$	552
Personal lines insurance		225				209				210
Excess and surplus lines insurance		35				31				28
Cincinnati Re		17				10				2
Total property casualty insurance		867				820				792
Life insurance		46				43				37
Total (3)		$	913			$	863			$	829
Underwriting, acquisition and insurance expenses:
Commercial lines insurance		$	419			$	412			$	395
Personal lines insurance		135				128				113
Excess and surplus lines insurance		28				23				20
Cincinnati Re		18				6				1
Total property casualty insurance		600				569				529
Life insurance		33				33				29
Total (3)		$	633			$	602			$	558
Net written premiums:
Commercial lines insurance		$	3,202			$	3,122			$	3,025
Personal lines insurance		1,294				1,198				1,128
Excess and surplus lines insurance		219				189				175
Cincinnati Re		125				71				33
Total property casualty insurance		4,840				4,580				4,361
Accident health insurance		3				2				2
Total		$	4,843			$	4,582			$	4,363

Notes to Schedule III:

(1) The sum of gross future policy benefits, losses, claims and expense losses, gross unearned premium and other policy claims and benefits payable is equal to the sum of Loss and loss expense reserves, Life policy reserves and investment contract reserves and Unearned premiums reported in the company’s consolidated balance sheets.

(2) This segment information is not regularly allocated to segments and reviewed by company management in making decisions about resources to be allocated to the segments or to assess their performance.

(3) The sum of amortization of deferred policy acquisition costs and other underwriting and insurance expenses is equal to Underwriting, acquisition and insurance expenses in the consolidated statements of income.

Cincinnati Financial Corporation - 2017 10-K - Page 179

Schedule IV

Cincinnati Financial Corporation and Subsidiaries
Reinsurance
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Gross amounts:
Life insurance in force		$	99,888			$	95,533			$	91,451
Earned premiums
Commercial lines insurance		$	3,258			$	3,180			$	3,088
Personal lines insurance		1,275				1,195				1,131
Excess and surplus lines insurance		219				192				177
Cincinnati Re		—				—				—
Total property casualty insurance		4,752				4,567				4,396
Life insurance		300				290				271
Total		$	5,052			$	4,857			$	4,667
Ceded amounts to other companies:
Life insurance in force		$	38,711			$	38,724			$	38,716
Earned premiums
Commercial lines insurance		$	99			$	98			$	102
Personal lines insurance		35				35				35
Excess and surplus lines insurance		10				9				9
Cincinnati Re		18				20				8
Total property casualty insurance		162				162				154
Life insurance		68				62				62
Total		$	230			$	224			$	216
Assumed amounts from other companies:
Life insurance in force		$	—			$	—			$	—
Earned premiums
Commercial lines insurance		$	6			$	7			$	10
Personal lines insurance		1				1				1
Excess and surplus lines insurance		—				—				—
Cincinnati Re		125				69				18
Total property casualty insurance		132				77				29
Life insurance		—				—				—
Total		$	132			$	77			$	29
Net amounts:
Life insurance in force		$	61,177			$	56,808			$	52,735
Earned premiums
Commercial lines insurance		$	3,165			$	3,089			$	2,996
Personal lines insurance		1,241				1,161				1,097
Excess and surplus lines insurance		209				183				168
Cincinnati Re		107				49				10
Total property casualty insurance		4,722				4,482				4,271
Life insurance		232				228				209
Total		$	4,954			$	4,710			$	4,480
Percentage of amounts assumed to net:
Life insurance in force		—		%		—		%		—		%
Earned premiums
Commercial lines insurance		0.2		%		0.2		%		0.3		%
Personal lines insurance		0.1				0.1				0.1
Excess and surplus lines insurance		—				—				—
Cincinnati Re		116.1				140.8				188.0
Total property casualty insurance		2.8				1.7				0.7
Life insurance		—				—				—
Total		2.7				1.6				0.7

Cincinnati Financial Corporation - 2017 10-K - Page 180

Schedule V

Cincinnati Financial Corporation and Subsidiaries
Valuation and Qualifying Accounts
(Dollars in millions)		At December 31,
		2017				2016				2015
Allowance for doubtful receivables:
Beginning balance, January 1		$	5			$	4			$	3
Additions charged to costs and expenses		6				5				3
Deductions		(5		)		(4		)		(2		)
Ending balance, December 31		$	6			$	5			$	4

Cincinnati Financial Corporation - 2017 10-K - Page 181

Schedule VI

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Deferred policy acquisition costs:
Commercial lines insurance		$	284			$	271			$	264
Personal lines insurance		121				110				103
Excess and surplus lines insurance		17				16				15
Cincinnati Re		16				11				6
Total		$	438			$	408			$	388
Reserves for unpaid claims and claim adjustment expenses:
Commercial lines insurance		$	4,236			$	4,179			$	3,925
Personal lines insurance		587				569				498
Excess and surplus lines insurance		264				241				227
Cincinnati Re		132				46				10
Total		$	5,219			$	5,035			$	4,660
Reserve discount deducted		$	—			$	—			$	—
Gross unearned premiums:
Commercial lines insurance		$	1,548			$	1,510			$	1,472
Personal lines insurance		683				629				593
Excess and surplus lines insurance		105				93				87
Cincinnati Re		67				74				48
Total		$	2,403			$	2,306			$	2,200
Earned premiums:
Commercial lines insurance		$	3,165			$	3,089			$	2,996
Personal lines insurance		1,241				1,161				1,097
Excess and surplus lines insurance		209				183				168
Cincinnati Re		107				49				10
Total		$	4,722			$	4,482			$	4,271
Investment income, net of expenses:
Commercial lines insurance		$	—			$	—			$	—
Personal lines insurance		—				—				—
Excess and surplus lines insurance		—				—				—
Cincinnati Re		—				—				—
Total (1)		$	392			$	384			$	368

Note to Schedule VI:

(1) This segment information is not regularly allocated to segments and not reviewed by company management in making decisions about resources to be allocated to the segments or to assess their performance.

Cincinnati Financial Corporation - 2017 10-K - Page 182

Schedule VI (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)		Years ended December 31,
		2017				2016				2015
Loss and loss expenses incurred related to current accident year:
Commercial lines insurance		$	2,115			$	2,057			$	1,862
Personal lines insurance		932				844				784
Excess and surplus lines insurance		115				102				105
Cincinnati Re		95				26				5
Total		$	3,257			$	3,029			$	2,756
Loss and loss expenses incurred related to prior accident years:
Commercial lines insurance		$	(73	)		$	(129	)		$	(154	)
Personal lines insurance		(14		)		(4		)		5
Excess and surplus lines insurance		(29		)		(34		)		(35		)
Cincinnati Re		(3		)		(1		)		—
Total		$	(119	)		$	(168	)		$	(184	)
Amortization of deferred policy acquisition costs:
Commercial lines insurance		$	590			$	570			$	552
Personal lines insurance		225				209				210
Excess and surplus lines insurance		35				31				28
Cincinnati Re		17				10				2
Total		$	867			$	820			$	792
Paid loss and loss expenses:
Commercial lines insurance		$	1,866			$	1,675			$	1,575
Personal lines insurance		898				771				731
Excess and surplus lines insurance		61				55				43
Cincinnati Re		18				2				—
Total		$	2,843			$	2,503			$	2,349
Net written premiums:
Commercial lines insurance		$	3,202			$	3,122			$	3,025
Personal lines insurance		1,294				1,198				1,128
Excess and surplus lines insurance		219				189				175
Cincinnati Re		125				71				33
Total		$	4,840			$	4,580			$	4,361

Cincinnati Financial Corporation - 2017 10-K - Page 183

Index of Exhibits

Exhibit No.	Exhibit Description
3.1	Amended and Restated Articles of Incorporation of Cincinnati Financial Corporation (incorporated by reference to the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, Exhibit 3.1)
3.2	Regulations of Cincinnati Financial Corporation, as amended through May 1, 2010 (incorporated by reference to the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, Exhibit 3.2)
4.1	Indenture with The Bank of New York Trust Company (incorporated by reference to the company’s Current Report on Form 8-K dated November 2, 2004, filed with respect to the issuance of the company’s 6.125% Senior Notes due November 1, 2034)
4.2	Supplemental Indenture with The Bank of New York Trust Company (incorporated by reference to the company’s Current Report on Form 8-K dated November 2, 2004, filed with respect to the issuance of the company’s 6.125% Senior Notes due November 1, 2034)
4.3	Second Supplemental Indenture with The Bank of New York Trust Company (incorporated by reference to the company’s Current Report on Form 8-K dated May 9, 2005, filed with respect to the completion of the company’s exchange offer and rescission offer for its 6.90% senior debentures due 2028)
4.4	Form of 6.125% Exchange Note Due 2034 (included in Exhibit 4.2)
4.5	Form of 6.92% Debentures Due 2028 (included in Exhibit 4.3)
4.6	Indenture with the First National Bank of Chicago (subsequently assigned to The Bank of New York Trust Company) (incorporated by reference to the company’s registration statement on Form S-3 filed on May 20, 1998 (File No. 333-51677))
4.7	Form of 6.90% Debentures Due 2028 (included in Exhibit 4.6)
10.1	Cincinnati Financial Corporation Directors’ Stock Plan of 2009 (incorporated by reference to the company’s definitive Proxy Statement dated March 20, 2009)
10.2	Cincinnati Financial Corporation Stock Option Plan No. VII (incorporated by reference to the company’s definitive Proxy Statement dated March 8, 2002) (File No. 000-04604)
10.3	Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, as amended January 31, 2014 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 3, 2014)
10.4	Cincinnati Financial Corporation 2006 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 30, 2006)
10.5	Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 16, 2012)
10.6	Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to the company’s Definitive Proxy Statement dated March 16, 2016, Appendix B)
10.7	First Amendment of Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 99.1 filed with the Company’s current report on Form 8-K dated April 11, 2016)
10.8	Amended and Restated Cincinnati Financial Corporation Supplemental Retirement Plan dated January 1, 2009 (incorporated by reference to Exhibit 10.7 filed with the company’s Annual Report on Form 10-K dated February 27, 2013)
10.9	Form of Incentive Stock Option Agreement for Stock Option Plan VII (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated October 20, 2006)
10.10	Form of Nonqualified Stock Option Agreement for Stock Option Plan VII (incorporated by reference to Exhibit 10.2 filed with the company’s Current Report on Form 8-K dated October 20, 2006)
10.11	Form of Incentive Stock Option Agreement for the 2006 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company’s Current Report on Form 8-K dated October 20, 2006)
10.12	Form of Nonqualified Stock Option Agreement for the 2006 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company’s Current Report on Form 8-K dated October 20, 2006)
10.13	Form of Restricted Stock Unit Agreement (performance-based) for use under the Cincinnati Financial Corporation 2006 Stock Compensation Plan (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated November 18, 2008)

Cincinnati Financial Corporation - 2017 10-K - Page 184

Exhibit No.	Exhibit Description
10.14	Form of Incentive Compensation Agreement for the Cincinnati Financial Corporation Incentive Compensation Plan of 2009 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated March 16, 2009)
10.15	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 company’s Current Report on Form 8-K dated February 21, 2013)
10.16	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 company’s Current Report on Form 8-K dated February 21, 2013)
10.17	Form of Restricted Stock Unit Agreement (service based) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company’s Current Report on Form 8-K dated February 21, 2013)
10.18	Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 13, 2015)
10.19	Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company’s Current Report on Form 8-K dated February 21, 2013)
10.20	Form of Incentive Compensation Agreement for the Cincinnati Financial Corporation Incentive Compensation Plan of 2009 (as amended January 31, 2014) (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.21	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 company’s Current Report on Form 8-K dated January 30, 2017)
10.22	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 company’s Current Report on Form 8-K dated January 30, 2017)
10.23	Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.24	Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.5 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.25	Form of Restricted Stock Unit Agreement (performance-based) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.6 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.26	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 company’s Current Report on Form 8-K dated January 30, 2017)
10.27	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 company’s Current Report on Form 8-K dated January 30, 2017)
10.28	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 company’s Current Report on Form 8-K dated January 30, 2017)
10.29	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 company’s Current Report on Form 8-K dated January 30, 2017)
10.30	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 company’s Current Report on Form 8-K dated January 30, 2017)
10.31	Amended and Restated Cincinnati Financial Corporation Top Hat Savings Plan dated January 1, 2018
10.32	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 company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2011)

Cincinnati Financial Corporation - 2017 10-K - Page 185

Exhibit No.	Exhibit Description
10.33	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 May 13, 2014 (incorporated by reference to the company’s Current Report on Form 8-K dated May 13, 2014, Exhibit 10.1)
10.34	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 company’s Current Report on Form 8-K dated February 8, 2016)
10.35	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 company’s Current Report on Form 8-K dated April 4, 2016)
10.36	Continuing Reimbursement Agreement for Letters of Credit by and between U.S. Bank and The Cincinnati Insurance Company, dated April 25, 2016 (incorporated by reference to Exhibit 10.8 filed with the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.)
11	Statement re: Computation of per share earnings for the years ended December 31, 2017, 2016, and 2015, contained in Part II, Item 8, Note 12, to the Consolidated Financial Statements
14	Cincinnati Financial Corporation Code of Ethics for Senior Financial Officers (incorporated by reference to the company’s definitive Proxy Statement dated March 18, 2004 (File No. 000-04604))
21	Cincinnati Financial Corporation subsidiaries contained in Part I, Item 1, of this report
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 – Chief Financial Officer
32	Certification pursuant to Section 906 of the Sarbanes Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

Cincinnati Financial Corporation - 2017 10-K - Page 186

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Cincinnati Financial Corporation

/S/ Michael J. Sewell

By: Michael J. Sewell, CPA

Title: Chief Financial Officer, Senior Vice President and Treasurer

(Principal Accounting Officer)

Date: February 23, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been duly signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Title	Date
/S/ Kenneth W. Stecher	Chairman of the Board	February 23, 2018
Kenneth W. Stecher
/S/ Steven J. Johnston	President, Chief Executive Officer and Director	February 23, 2018
Steven J. Johnston
/S/ Michael J. Sewell	Chief Financial Officer, Senior Vice President and Treasurer	February 23, 2018
Michael J. Sewell
/S/ William F. Bahl	Director	February 23, 2018
William F. Bahl
/S/ Gregory T. Bier	Director	February 23, 2018
Gregory T. Bier
/S/ Dirk J. Debbink	Director	February 23, 2018
Dirk J. Debbink
/S/ Linda W. Clement-Holmes	Director	February 23, 2018
Linda W. Clement-Holmes
/S/ Kenneth C. Lichtendahl	Director	February 23, 2018
Kenneth C. Lichtendahl
/S/ W. Rodney McMullen	Director	February 23, 2018
W. Rodney McMullen
/S/ David P. Osborn	Director	February 23, 2018
David P. Osborn
/S/ Gretchen W. Price	Director	February 23, 2018
Gretchen W. Price
/S/ Thomas R. Schiff	Director	February 23, 2018
Thomas R. Schiff
/S/ Douglas S. Skidmore	Director	February 23, 2018
Douglas S. Skidmore
/S/ John F. Steele, Jr.	Director	February 23, 2018
John F. Steele, Jr.
/S/ Larry R. Webb	Director	February 23, 2018
Larry R. Webb

Cincinnati Financial Corporation - 2017 10-K - Page 187