Item 16. Form 10-K Summary

This item is not applicable to the company.

Cincinnati Financial Corporation - 2021 10-K - Page 179

Schedule I

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2021
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Fixed maturities:
States, municipalities and political subdivisions:
The Cincinnati Insurance Company						$	3,343					$	3,583					$	3,583
The Cincinnati Casualty Company						230						246						246
The Cincinnati Indemnity Company						49						53						53
The Cincinnati Life Insurance Company						446						471						471
The Cincinnati Specialty Underwriters Insurance Company						643						685						685
Cincinnati Financial Corporation						57						57						57
Total						4,768						5,095						5,095
United States government:
The Cincinnati Insurance Company						69						71						71
The Cincinnati Casualty Company						1						1						1
The Cincinnati Indemnity Company						1						1						1
Cincinnati Global Underwriting Ltd.						50						50						50
Total						121						123						123
Foreign government:
The Cincinnati Insurance Company						10						10						10
Cincinnati Global Underwriting Ltd.						16						16						16
Total						26						26						26
Government-sponsored enterprises:
Cincinnati Global Underwriting Ltd.						8						8						8
Total						8						8						8
All other corporate bonds:
The Cincinnati Insurance Company						3,443						3,628						3,628
The Cincinnati Casualty Company						102						106						106
The Cincinnati Indemnity Company						33						35						35
The Cincinnati Life Insurance Company						3,339						3,595						3,595
The Cincinnati Specialty Underwriters Insurance Company						300						316						316
CSU Producer Resources Inc.						1						1						1
Cincinnati Global Underwriting Ltd.						82						82						82
Cincinnati Financial Corporation						7						7						7
Total						7,307						7,770						7,770
Total fixed maturities						$	12,230					$	13,022					$	13,022

Cincinnati Financial Corporation - 2021 10-K - Page 180

Schedule I (continued)

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2021
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Equity securities:
Common equities:
The Cincinnati Insurance Company						$	1,848					$	5,543					$	5,543
The Cincinnati Casualty Company						59						186						186
The Cincinnati Indemnity Company						18						44						44
The Cincinnati Specialty Underwriters Insurance Company						101						287						287
CSU Producer Resources Inc.						15						28						28
Cincinnati Financial Corporation						1,656						4,774						4,774
Total						3,697						10,862						10,862
Nonredeemable preferred equities:
The Cincinnati Insurance Company						407						436						436
The Cincinnati Life Insurance Company						13						13						13
Cincinnati Financial Corporation						4						4						4
Total						424						453						453
Total equity securities						$	4,121					$	11,315					$	11,315
Other invested assets:
Policy loans:
The Cincinnati Life Insurance Company						$	31					—						$	31
Deposits at Lloyd's:
Cincinnati Global Underwriting Ltd.						29						—						29
Cincinnati Financial Corporation						6						—						6
Private equity:
The Cincinnati Insurance Company (1)						191						—						191
Cincinnati Financial Corporation (1)						36						—						36
Real estate:
The Cincinnati Insurance Company (1)						27						—						27
The Cincinnati Life Insurance Company (1)						5						—						5
Cincinnati Financial Corporation (1)						4						—						4
Total other invested assets						$	329					—						$	329
Total investments						$	16,680					—						$	24,666

Notes to Schedule I:

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

Cincinnati Financial Corporation - 2021 10-K - Page 181

Schedule II

Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions)						At December 31,
						2021						2020
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2021—$64; 2020—$69)						$	64					$	68
Equity securities, at fair value (cost: 2021—$1,660; 2020—$1,607)						4,778						3,687
Other invested assets						46						145
Total investments						4,888						3,900
Cash and cash equivalents						211						16
Equity in net assets of subsidiaries						9,292						7,982
Investment income receivable						9						8
Land, building and equipment, net, for company use (accumulated depreciation: 2021—$147; 2020—$138)						140						143
Income tax receivable						—						5
Other assets						108						53
Due from subsidiaries						106						110
Total assets						$	14,754					$	12,217
Liabilities
Dividends declared but unpaid						$	101					$	97
Deferred federal income tax						664						429
Long-term debt						789						788
Other liabilities						95						114
Total liabilities						1,649						1,428
Shareholders' Equity
Common stock						397						397
Paid-in capital						1,356						1,328
Retained earnings						12,625						10,085
Accumulated other comprehensive income						648						769
Treasury stock, at cost						(1,921)						(1,790)
Total shareholders' equity						13,105						10,789
Total liabilities and shareholders' equity						$	14,754					$	12,217

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 - 2021 10-K - Page 182

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income and Comprehensive Income
(Dollars in millions)						Years ended December 31,
						2021						2020						2019
Revenues
Investment income, net of expenses						$	91					$	81					$	75
Investment gains and losses, net						1,058						556						728
Other revenue						15						15						15
Total revenues						1,164						652						818
Expenses
Interest expense						53						54						52
Other expenses						32						34						37
Total expenses						85						88						89
Income Before Income Taxes and Earnings of Subsidiaries						1,079						564						729
Provision for Income Taxes						217						111						146
Net Income Before Earnings of Subsidiaries						862						453						583
Increase in equity of subsidiaries						2,084						763						1,414
Net Income						$	2,946					$	1,216					$	1,997
Other Comprehensive Income (Loss), Net of Taxes
Change in unrealized gain on securities						1						—						—
Amortization of pension actuarial gains (losses) and prior service costs						54						(25)						5
Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income of Subsidiaries						55						(25)						5
Other comprehensive income (loss) of subsidiaries						(176)						346						421
Other comprehensive income (loss)						(121)						321						426
Comprehensive Income						$	2,825					$	1,537					$	2,423

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 - 2021 10-K - Page 183

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions)						Years ended December 31,
						2021						2020						2019
Cash Flows From Operating Activities
Net income						$	2,946					$	1,216					$	1,997
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization						11						12						10
Investment gains and losses, net						(1,034)						(552)						(720)
Dividends from subsidiaries						598						550						625
Changes in:
Increase in equity of subsidiaries						(2,084)						(763)						(1,414)
Investment income receivable						(1)						(1)						(1)
Current federal income taxes						6						(3)						(1)
Deferred income tax						220						91						146
Other assets						5						—						4
Other liabilities						—						1						4
Intercompany receivable for operations						5						34						20
Net cash provided by operating activities						672						585						670
Cash Flows From Investing Activities
Sale of fixed maturities						4						—						3
Call or maturity of fixed maturities						18						1						21
Sale of equity securities						25						307						122
Purchase of fixed maturities						(19)						(23)						(39)
Purchase of equity securities						(82)						(372)						(237)
Investment in buildings and equipment						(6)						(11)						(13)
Cash paid for acquisition						—						—						(63)
Change in other invested assets, net						108						(42)						(67)
Net cash (used in) received from investing activities						48						(140)						(273)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders						(395)						(375)						(355)
Shares acquired - share repurchase authorization						(144)						(261)						(67)
Proceeds from stock options exercised						13						7						11
Other						1						3						2
Net cash used in financing activities						(525)						(626)						(409)
Net change in cash and cash equivalents						195						(181)						(12)
Cash and cash equivalents at beginning of year						16						197						209
Cash and cash equivalents at end of year						$	211					$	16					$	197

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 - 2021 10-K - Page 184

Schedule III

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2021						2020						2019
Deferred policy acquisition costs:
Commercial lines insurance						$	345					$	317					$	311
Personal lines insurance						145						136						130
Excess and surplus lines insurance						33						28						25
Other						79						61						46
Total property casualty insurance						602						542						512
Life insurance						303						263						262
Total						$	905					$	805					$	774
Gross future policy benefits, losses, claims and expense losses:
Commercial lines insurance						$	5,007					$	4,881					$	4,569
Personal lines insurance						814						739						687
Excess and surplus lines insurance						577						446						351
Other						831						611						481
Total property casualty insurance						7,229						6,677						6,088
Life insurance						3,037						2,938						2,859
Total (1)						$	10,266					$	9,615					$	8,947
Gross unearned premiums:
Commercial lines insurance						$	1,857					$	1,714					$	1,665
Personal lines insurance						850						797						757
Excess and surplus lines insurance						207						175						152
Other						356						273						213
Total property casualty insurance						3,270						2,959						2,787
Life insurance						1						1						1
Total (1)						$	3,271					$	2,960					$	2,788
Other policy claims and benefits payable:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance						—						—						—
Life insurance						53						46						35
Total (1)						$	53					$	46					$	35
Earned premiums:
Commercial lines insurance						$	3,674					$	3,476					$	3,319
Personal lines insurance						1,542						1,463						1,404
Excess and surplus lines insurance						398						325						278
Other						570						427						333
Total property casualty insurance						6,184						5,691						5,334
Life insurance						298						289						270
Total						$	6,482					$	5,980					$	5,604

Cincinnati Financial Corporation - 2021 10-K - Page 185

Schedule III (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2021						2020						2019
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance (2)						457						431						419
Life insurance						166						158						152
Total						$	623					$	589					$	571
Benefits, claims losses and settlement expenses:
Commercial lines insurance						$	1,940					$	2,336					$	2,030
Personal lines insurance						992						977						985
Excess and surplus lines insurance						250						199						142
Other						414						325						195
Total property casualty insurance						3,596						3,837						3,352
Life insurance						340						297						286
Total						$	3,936					$	4,134					$	3,638
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	703					$	664					$	631
Personal lines insurance						276						256						251
Excess and surplus lines insurance						63						51						47
Other						109						86						57
Total property casualty insurance						1,151						1,057						986
Life insurance						46						49						48
Total (3)						$	1,197					$	1,106					$	1,034
Underwriting, acquisition and insurance expenses:
Commercial lines insurance						$	437					$	415					$	422
Personal lines insurance						181						187						164
Excess and surplus lines insurance						43						43						38
Other						55						42						42
Total property casualty insurance						716						687						666
Life insurance						38						36						38
Total (3)						$	754					$	723					$	704
Net written premiums:
Commercial lines insurance						$	3,811					$	3,534					$	3,410
Personal lines insurance						1,594						1,503						1,435
Excess and surplus lines insurance						426						348						303
Other						648						479						368
Total property casualty insurance						6,479						5,864						5,516
Accident and health insurance						2						2						2
Total						$	6,481					$	5,866					$	5,518

Notes to Schedule III:

(1) The sum of gross future policy benefits, losses, claims and expense losses, gross unearned premiums 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 - 2021 10-K - Page 186

Schedule IV

Cincinnati Financial Corporation and Subsidiaries
Reinsurance
(Dollars in millions)						Years ended December 31,
						2021						2020						2019
Gross amounts:
Life insurance in force						$	116,697					$	111,756					$	108,130
Earned premiums
Commercial lines insurance						$	3,777					$	3,578					$	3,421
Personal lines insurance						1,586						1,503						1,446
Excess and surplus lines insurance						417						341						292
Other						216						201						181
Total property casualty insurance						5,996						5,623						5,340
Life insurance						374						362						341
Total						$	6,370					$	5,985					$	5,681
Ceded amounts to other companies:
Life insurance in force						$	39,204					$	38,281					$	38,146
Earned premiums
Commercial lines insurance						$	115					$	109					$	109
Personal lines insurance						45						41						43
Excess and surplus lines insurance						19						16						14
Other						76						51						39
Total property casualty insurance						255						217						205
Life insurance						76						73						71
Total						$	331					$	290					$	276
Assumed amounts from other companies:
Life insurance in force						$	—					$	—					$	—
Earned premiums
Commercial lines insurance						$	12					$	7					$	7
Personal lines insurance						1						1						1
Excess and surplus lines insurance						—						—						—
Other						430						277						191
Total property casualty insurance						443						285						199
Life insurance						—						—						—
Total						$	443					$	285					$	199
Net amounts:
Life insurance in force						$	77,493					$	73,475					$	69,984
Earned premiums
Commercial lines insurance						$	3,674					$	3,476					$	3,319
Personal lines insurance						1,542						1,463						1,404
Excess and surplus lines insurance						398						325						278
Other						570						427						333
Total property casualty insurance						6,184						5,691						5,334
Life insurance						298						289						270
Total						$	6,482					$	5,980					$	5,604
Percentage of amounts assumed to net:
Life insurance in force						—		%				—		%				—		%
Earned premiums
Commercial lines insurance						0.3		%				0.2		%				0.2		%
Personal lines insurance						0.1						0.1						0.1
Excess and surplus lines insurance						—						—						—
Other						75.4						64.9						57.4
Total property casualty insurance						7.2						5.0						3.7
Life insurance						—						—						—
Total						6.8						4.8						3.6

Cincinnati Financial Corporation - 2021 10-K - Page 187

Schedule V

Cincinnati Financial Corporation and Subsidiaries
Valuation and Qualifying Accounts
(Dollars in millions)						At December 31,
						2021						2020						2019
Allowance for credit losses (1):
Beginning balance, January 1						$	22					$	8					$	6
Cumulative effect of change in accounting for credit losses as of January 1, 2020, pretax						—						3						—
Additions charged to costs and expenses						14						19						8
Deductions						(20)						(8)						(6)
Ending balance, December 31						$	16					$	22					$	8
Deferred tax valuation allowance:
Beginning balance, January 1						$	56					$	41					$	—
Additions charged to costs and expenses						—						15						55
Deductions						(3)						—						(14)
Ending balance, December 31						53						56						41
Total valuation and qualifying accounts						$	69					$	78					$	49

Notes to Schedule V:

(1) Includes allowances for credit losses related to premiums receivable, reinsurance recoverable, finance receivables and fixed-maturity securities.

Cincinnati Financial Corporation - 2021 10-K - Page 188

Schedule VI

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2021						2020						2019
Deferred policy acquisition costs:
Commercial lines insurance						$	345					$	317					$	311
Personal lines insurance						145						136						130
Excess and surplus lines insurance						33						28						25
Other						79						61						46
Total						$	602					$	542					$	512
Reserves for unpaid claims and claim adjustment expenses:
Commercial lines insurance						$	5,007					$	4,881					$	4,569
Personal lines insurance						814						739						687
Excess and surplus lines insurance						577						446						351
Other						831						611						481
Total						$	7,229					$	6,677					$	6,088
Reserve discount deducted						$	—					$	—					$	—
Gross unearned premiums:
Commercial lines insurance						$	1,857					$	1,714					$	1,665
Personal lines insurance						850						797						757
Excess and surplus lines insurance						207						175						152
Other						356						273						213
Total						$	3,270					$	2,959					$	2,787
Earned premiums:
Commercial lines insurance						$	3,674					$	3,476					$	3,319
Personal lines insurance						1,542						1,463						1,404
Excess and surplus lines insurance						398						325						278
Other						570						427						333
Total						$	6,184					$	5,691					$	5,334
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total (1)						$	457					$	431					$	419

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 - 2021 10-K - Page 189

Schedule VI (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2021						2020						2019
Loss and loss expenses incurred related to current accident year:
Commercial lines insurance						$	2,293					$	2,431					$	2,222
Personal lines insurance						1,042						995						1,012
Excess and surplus lines insurance						243						192						153
Other						446						350						213
Total						$	4,024					$	3,968					$	3,600
Loss and loss expenses incurred related to prior accident years:
Commercial lines insurance						$	(353)					$	(95)					$	(192)
Personal lines insurance						(50)						(18)						(27)
Excess and surplus lines insurance						7						7						(11)
Other						(32)						(25)						(18)
Total						$	(428)					$	(131)					$	(248)
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	703					$	664					$	631
Personal lines insurance						276						256						251
Excess and surplus lines insurance						63						51						47
Other						109						86						57
Total						$	1,151					$	1,057					$	986
Paid loss and loss expenses:
Commercial lines insurance						$	1,806					$	1,969					$	2,023
Personal lines insurance						914						921						966
Excess and surplus lines insurance						118						112						90
Other						256						181						181
Total						$	3,094					$	3,183					$	3,260
Net written premiums:
Commercial lines insurance						$	3,811					$	3,534					$	3,410
Personal lines insurance						1,594						1,503						1,435
Excess and surplus lines insurance						426						348						303
Other						648						479						368
Total						$	6,479					$	5,864					$	5,516

Cincinnati Financial Corporation - 2021 10-K - Page 190

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			Amended and Restated Code of Regulations of Cincinnati Financial Corporation, as of May 5, 2018 (incorporated by reference to the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, 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)
4.8			Description of Registered Securities
10.1			Cincinnati Financial Corporation Nonemployee Director Stock Plan of 2018 (incorporated by reference to the company’s definitive Proxy Statement dated March 21, 2018)
10.2			First Amendment to Cincinnati Financial Corporation Nonemployee Director Stock Plan of 2018
10.3			Cincinnati Financial Corporation Nonemployee Director Deferred Compensation Plan
10.4			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)
10.5			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 dated February 25, 2021)
10.6			Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 29, 2022
10.7			Cincinnati Financial Corporation 2006 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 30, 2006)
10.8			Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 16, 2012)
10.9			Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to the company’s Definitive Proxy Statement dated March 16, 2016, Appendix B)
10.10			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)
10.11			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)
10.12			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)
10.13			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)
10.14			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)

Cincinnati Financial Corporation - 2021 10-K - Page 191

Exhibit No.			Exhibit Description
10.15			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)
10.16			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)
10.17			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)
10.18			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)
10.19			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)
10.20			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)
10.21			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)
10.22			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)
10.23			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)
10.24			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)
10.25			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)
10.26			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)
10.27			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)
10.28			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)
10.29			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)
10.30			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)
10.31			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)
10.32			Amended and Restated Cincinnati Financial Corporation Top Hat Savings Plan dated January 1, 2018 (incorporated by reference to Exhibit 10.31 filed with the company's Form 10-K dated February 23, 2018)
10.33			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 - 2021 10-K - Page 192

Exhibit No.			Exhibit Description
10.34			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)
10.35			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)
10.36			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)
10.37			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 dated February 6, 2019)
10.38			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 company’s Current Report on Form 8-K dated February 28, 2019)
10.39			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 company’s Current Report on Form 8-K, dated December 6, 2019)
10.40			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 company’s Current Report on Form 8-K, dated December 11, 2020)
10.41			Reimbursement Agreement for Letters of Credit by and between Bank of Nova Scotia and The Cincinnati Insurance Company, dated October 15, 2018 (incorporated by reference to Exhibit 10.1 filed with the company's Current Report on Form 8-K dated October 17, 2018)
10.42			Letter of Credit Facility Agreement by and between Cincinnati Financial Corporation, as Borrower, and The Bank of Nova Scotia, as Bank, dated February 25, 2019 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 28, 2019)
10.43			Amendment Letter No. 1 to the Letter of Credit Facility Agreement, dated November 4, 2019 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K, dated November 5, 2019)
10.44			Amendment Letter No. 2 to the Letter of Credit Facility Agreement, dated October 30, 2020 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K, dated November 2, 2020)
10.45			Amendment Letter No. 3 to the Letter of Credit Facility Agreement, dated November 2, 2021 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K, dated November 3, 2021)
11			Statement re: Computation of per share earnings for the years ended December 31, 2021, 2020, and 2019, 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

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Exhibit No.			Exhibit Description
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			The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL 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
104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

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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 24, 2022

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/ Steven J. Johnston			Chairman, President, Chief Executive Officer and Director			February 24, 2022
Steven J. Johnston
/S/ Michael J. Sewell			Chief Financial Officer, Senior Vice President and Treasurer			February 24, 2022
Michael J. Sewell
/S/ Thomas J. Aaron			Director			February 24, 2022
Thomas J. Aaron
/S/ William F. Bahl			Director			February 24, 2022
William F. Bahl
/S/ Nancy C. Benacci			Director			February 24, 2022
Nancy C. Benacci
/S/ Linda W. Clement-Holmes			Director			February 24, 2022
Linda W. Clement-Holmes
/S/ Dirk J. Debbink			Director			February 24, 2022
Dirk J. Debbink
/S/ Kenneth C. Lichtendahl			Director			February 24, 2022
Kenneth C. Lichtendahl
/S/ David P. Osborn			Director			February 24, 2022
David P. Osborn
/S/ Jill P. Meyer Pratt			Director			February 24, 2022
Jill P. Meyer Pratt
/S/ Gretchen W. Schar			Director			February 24, 2022
Gretchen W. Schar
/S/ Charles O. Schiff			Director			February 24, 2022
Charles O. Schiff
/S/ Douglas S. Skidmore			Director			February 24, 2022
Douglas S. Skidmore
/S/ John F. Steele, Jr.			Director			February 24, 2022
John F. Steele, Jr.
/S/ Larry R. Webb			Director			February 24, 2022
Larry R. Webb

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