Item 16. Form 10-K Summary

This item is not applicable to the company.

Cincinnati Financial Corporation - 2022 10-K - Page 180

Schedule I

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2022
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Fixed maturities:
States, municipalities and political subdivisions:
The Cincinnati Insurance Company						$	3,401					$	3,271					$	3,271
The Cincinnati Casualty Company						243						230						230
The Cincinnati Indemnity Company						48						46						46
The Cincinnati Life Insurance Company						459						383						383
The Cincinnati Specialty Underwriters Insurance Company						688						640						640
Cincinnati Financial Corporation						62						52						52
Total						4,901						4,622						4,622
United States government:
The Cincinnati Insurance Company						139						135						135
The Cincinnati Casualty Company						1						1						1
The Cincinnati Indemnity Company						1						1						1
Cincinnati Global Underwriting Ltd.						55						54						54
Total						196						191						191
Government-sponsored enterprises:
The Cincinnati Insurance Company						15						15						15
The Cincinnati Casualty Company						5						5						5
The Cincinnati Indemnity Company						2						2						2
The Cincinnati Life Insurance Company						145						142						142
The Cincinnati Specialty Underwriters Insurance Company						10						10						10
Cincinnati Global Underwriting Ltd.						9						9						9
Total						186						183						183
Foreign government:
The Cincinnati Insurance Company						10						10						10
Cincinnati Global Underwriting Ltd.						24						23						23
Total						34						33						33
All other corporate bonds:
The Cincinnati Insurance Company						3,794						3,527						3,527
The Cincinnati Casualty Company						96						85						85
The Cincinnati Indemnity Company						33						31						31
The Cincinnati Life Insurance Company						3,283						3,045						3,045
The Cincinnati Specialty Underwriters Insurance Company						323						287						287
Cincinnati Global Underwriting Ltd.						104						102						102
Cincinnati Financial Corporation						29						26						26
Total						7,662						7,103						7,103
Total fixed maturities						$	12,979					$	12,132					$	12,132

Cincinnati Financial Corporation - 2022 10-K - Page 181

Schedule I (continued)

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2022
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Equity securities:
Common equities:
The Cincinnati Insurance Company						$	1,925					$	5,013					$	5,013
The Cincinnati Casualty Company						59						162						162
The Cincinnati Indemnity Company						18						40						40
The Cincinnati Specialty Underwriters Insurance Company						102						238						238
CSU Producer Resources Inc.						17						27						27
Cincinnati Financial Corporation						1,730						3,974						3,974
Total						3,851						9,454						9,454
Nonredeemable preferred equities:
The Cincinnati Insurance Company						426						372						372
The Cincinnati Life Insurance Company						13						11						11
Cincinnati Financial Corporation						4						4						4
Total						443						387						387
Total equity securities						$	4,294					$	9,841					$	9,841
Other invested assets:
Policy loans:
The Cincinnati Life Insurance Company						$	31					—						$	31
Deposits at Lloyd's:
Cincinnati Global Underwriting Ltd.						32						—						32
Cincinnati Financial Corporation						5						—						5
Private equity:
The Cincinnati Insurance Company (1)						288						—						288
The Cincinnati Life Insurance Company (1)						5						—						5
Cincinnati Financial Corporation (1)						44						—						44
Real estate:
The Cincinnati Insurance Company (1)						38						—						38
The Cincinnati Life Insurance Company (1)						5						—						5
Cincinnati Financial Corporation (1)						4						—						4
Total other invested assets						$	452					—						$	452
Total investments						$	17,725					—						$	22,425

Notes to Schedule I:

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

Cincinnati Financial Corporation - 2022 10-K - Page 182

Schedule II

Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions)						At December 31,
						2022						2021
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2022—$91; 2021—$64)						$	78					$	64
Equity securities, at fair value (cost: 2022—$1,734; 2021—$1,660)						3,978						4,778
Other invested assets						53						46
Total investments						4,109						4,888
Cash and cash equivalents						121						211
Equity in net assets of subsidiaries						7,396						9,292
Investment income receivable						11						9
Land, building and equipment, net, for company use (accumulated depreciation: 2022—$156; 2021—$147)						136						140
Income tax receivable						5						—
Other assets						116						108
Due from subsidiaries						102						106
Total assets						$	11,996					$	14,754
Liabilities
Dividends declared but unpaid						$	108					$	101
Deferred federal income tax						480						664
Long-term debt						789						789
Other liabilities						88						95
Total liabilities						1,465						1,649
Shareholders' Equity
Common stock						397						397
Paid-in capital						1,392						1,356
Retained earnings						11,702						12,625
Accumulated other comprehensive income						(636)						648
Treasury stock, at cost						(2,324)						(1,921)
Total shareholders' equity						10,531						13,105
Total liabilities and shareholders' equity						$	11,996					$	14,754

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 - 2022 10-K - Page 183

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income and Comprehensive Income
(Dollars in millions)						Years ended December 31,
						2022						2021						2020
Revenues
Investment income, net of expenses						$	101					$	91					$	81
Investment gains and losses, net						(790)						1,058						556
Other revenue						15						15						15
Total revenues						(674)						1,164						652
Expenses
Interest expense						53						53						54
Other expenses						33						32						34
Total expenses						86						85						88
Income (Loss) Before Income Taxes and Earnings of Subsidiaries						(760)						1,079						564
Provision (Benefit) for Income Taxes						(161)						217						111
Net Income (Loss) Before Earnings of Subsidiaries						(599)						862						453
Increase in equity of subsidiaries						113						2,084						763
Net Income (Loss)						$	(486)					$	2,946					$	1,216
Other Comprehensive Income (Loss), Net of Taxes
Change in unrealized gain on securities						(10)						1						—
Amortization of pension actuarial gains (losses) and prior service costs						7						54						(25)
Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income (Loss) of Subsidiaries						(3)						55						(25)
Other comprehensive income (loss) of subsidiaries						(1,281)						(176)						346
Other comprehensive income (loss)						(1,284)						(121)						321
Comprehensive Income (Loss)						$	(1,770)					$	2,825					$	1,537

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 - 2022 10-K - Page 184

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions)						Years ended December 31,
						2022						2021						2020
Cash Flows From Operating Activities
Net income						$	(486)					$	2,946					$	1,216
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization and other						9						10						11
Investment gains and losses, net						792						(1,034)						(552)
Dividends from subsidiaries						729						598						550
Changes in:
Increase in equity of subsidiaries						(113)						(2,084)						(763)
Current federal income taxes						(6)						6						(3)
Deferred income tax						(183)						220						91
Other assets						(7)						5						—
Other liabilities						1						—						1
Intercompany receivable for operations						28						5						34
Net cash provided by operating activities						764						672						585
Cash Flows From Investing Activities
Sale, call or maturity of fixed maturities						1						22						1
Sale of equity securities						192						25						307
Purchase of fixed maturities						(30)						(19)						(23)
Purchase of equity securities						(187)						(82)						(372)
Investment in buildings and equipment						(4)						(6)						(11)
Change in other invested assets, net						(4)						108						(42)
Net cash (used in) received from investing activities						(32)						48						(140)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders						(423)						(395)						(375)
Shares acquired - share repurchase authorization						(410)						(144)						(261)
Proceeds from stock options exercised						10						13						7
Other						1						1						3
Net cash used in financing activities						(822)						(525)						(626)
Net change in cash and cash equivalents						(90)						195						(181)
Cash and cash equivalents at beginning of year						211						16						197
Cash and cash equivalents at end of year						$	121					$	211					$	16

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 - 2022 10-K - Page 185

Schedule III

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2022						2021						2020
Deferred policy acquisition costs:
Commercial lines insurance						$	372					$	345					$	317
Personal lines insurance						168						145						136
Excess and surplus lines insurance						37						33						28
Other						105						79						61
Total property casualty insurance						682						602						542
Life insurance						332						303						263
Total						$	1,014					$	905					$	805
Gross future policy benefits, losses, claims and expense losses:
Commercial lines insurance						$	5,568					$	5,007					$	4,881
Personal lines insurance						916						814						739
Excess and surplus lines insurance						753						577						446
Other						1,099						831						611
Total property casualty insurance						8,336						7,229						6,677
Life insurance						3,082						3,037						2,938
Total (1)						$	11,418					$	10,266					$	9,615
Gross unearned premiums:
Commercial lines insurance						$	2,021					$	1,857					$	1,714
Personal lines insurance						994						850						797
Excess and surplus lines insurance						236						207						175
Other						437						356						273
Total property casualty insurance						3,688						3,270						2,959
Life insurance						1						1						1
Total (1)						$	3,689					$	3,271					$	2,960
Other policy claims and benefits payable:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance						—						—						—
Life insurance						41						53						46
Total (1)						$	41					$	53					$	46
Earned premiums:
Commercial lines insurance						$	4,024					$	3,674					$	3,476
Personal lines insurance						1,689						1,542						1,463
Excess and surplus lines insurance						485						398						325
Other						726						570						427
Total property casualty insurance						6,924						6,184						5,691
Life insurance						295						298						289
Total						$	7,219					$	6,482					$	5,980

Cincinnati Financial Corporation - 2022 10-K - Page 186

Schedule III (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2022						2021						2020
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance (2)						509						457						431
Life insurance						171						166						158
Total						$	680					$	623					$	589
Benefits, claims losses and settlement expenses:
Commercial lines insurance						$	2,761					$	1,940					$	2,336
Personal lines insurance						1,166						992						977
Excess and surplus lines insurance						315						250						199
Other						474						414						325
Total property casualty insurance						4,716						3,596						3,837
Life insurance						296						340						297
Total						$	5,012					$	3,936					$	4,134
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	769					$	703					$	664
Personal lines insurance						311						276						256
Excess and surplus lines insurance						79						63						51
Other						144						109						86
Total property casualty insurance						1,303						1,151						1,057
Life insurance						44						46						49
Total (3)						$	1,347					$	1,197					$	1,106
Underwriting, acquisition and insurance expenses:
Commercial lines insurance						$	460					$	437					$	415
Personal lines insurance						198						181						187
Excess and surplus lines insurance						45						43						43
Other						72						55						42
Total property casualty insurance						775						716						687
Life insurance						40						38						36
Total (3)						$	815					$	754					$	723
Net written premiums:
Commercial lines insurance						$	4,159					$	3,811					$	3,534
Personal lines insurance						1,831						1,594						1,503
Excess and surplus lines insurance						502						426						348
Other						815						648						479
Total property casualty insurance						7,307						6,479						5,864
Accident and health insurance						2						2						2
Total						$	7,309					$	6,481					$	5,866

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 - 2022 10-K - Page 187

Schedule IV

Cincinnati Financial Corporation and Subsidiaries
Reinsurance
(Dollars in millions)						Years ended December 31,
						2022						2021						2020
Gross amounts:
Life insurance in force						$	120,147					$	116,697					$	111,756
Earned premiums
Commercial lines insurance						$	4,150					$	3,777					$	3,578
Personal lines insurance						1,755						1,586						1,503
Excess and surplus lines insurance						510						417						341
Other						262						216						201
Total property casualty insurance						6,677						5,996						5,623
Life insurance						373						374						362
Total						$	7,050					$	6,370					$	5,985
Ceded amounts to other companies:
Life insurance in force						$	39,665					$	39,204					$	38,281
Earned premiums
Commercial lines insurance						$	137					$	115					$	109
Personal lines insurance						67						45						41
Excess and surplus lines insurance						25						19						16
Other						85						76						51
Total property casualty insurance						314						255						217
Life insurance						78						76						73
Total						$	392					$	331					$	290
Assumed amounts from other companies:
Life insurance in force						$	—					$	—					$	—
Earned premiums
Commercial lines insurance						$	11					$	12					$	7
Personal lines insurance						1						1						1
Excess and surplus lines insurance						—						—						—
Other						549						430						277
Total property casualty insurance						561						443						285
Life insurance						—						—						—
Total						$	561					$	443					$	285
Net amounts:
Life insurance in force						$	80,482					$	77,493					$	73,475
Earned premiums
Commercial lines insurance						$	4,024					$	3,674					$	3,476
Personal lines insurance						1,689						1,542						1,463
Excess and surplus lines insurance						485						398						325
Other						726						570						427
Total property casualty insurance						6,924						6,184						5,691
Life insurance						295						298						289
Total						$	7,219					$	6,482					$	5,980
Percentage of amounts assumed to net:
Life insurance in force						—		%				—		%				—		%
Earned premiums
Commercial lines insurance						0.3		%				0.3		%				0.2		%
Personal lines insurance						0.1						0.1						0.1
Excess and surplus lines insurance						—						—						—
Other						75.6						75.4						64.9
Total property casualty insurance						8.1						7.2						5.0
Life insurance						—						—						—
Total						7.8						6.8						4.8

Cincinnati Financial Corporation - 2022 10-K - Page 188

Schedule V

Cincinnati Financial Corporation and Subsidiaries
Valuation and Qualifying Accounts
(Dollars in millions)						At December 31,
						2022						2021						2020
Allowance for credit losses (1):
Beginning balance, January 1						$	16					$	22					$	8
Cumulative effect of change in accounting for credit losses as of January 1, 2020, pretax						—						—						3
Additions charged to costs and expenses						15						14						19
Deductions						(14)						(20)						(8)
Ending balance, December 31						$	17					$	16					$	22
Deferred tax valuation allowance:
Beginning balance, January 1						$	53					$	56					$	41
Additions charged to costs and expenses						—						—						15
Deductions						(22)						(3)						—
Ending balance, December 31						31						53						56
Total valuation and qualifying accounts						$	48					$	69					$	78

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 - 2022 10-K - Page 189

Schedule VI

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2022						2021						2020
Deferred policy acquisition costs:
Commercial lines insurance						$	372					$	345					$	317
Personal lines insurance						168						145						136
Excess and surplus lines insurance						37						33						28
Other						105						79						61
Total						$	682					$	602					$	542
Reserves for unpaid claims and claim adjustment expenses:
Commercial lines insurance						$	5,568					$	5,007					$	4,881
Personal lines insurance						916						814						739
Excess and surplus lines insurance						753						577						446
Other						1,099						831						611
Total						$	8,336					$	7,229					$	6,677
Reserve discount deducted						$	—					$	—					$	—
Gross unearned premiums:
Commercial lines insurance						$	2,021					$	1,857					$	1,714
Personal lines insurance						994						850						797
Excess and surplus lines insurance						236						207						175
Other						437						356						273
Total						$	3,688					$	3,270					$	2,959
Earned premiums:
Commercial lines insurance						$	4,024					$	3,674					$	3,476
Personal lines insurance						1,689						1,542						1,463
Excess and surplus lines insurance						485						398						325
Other						726						570						427
Total						$	6,924					$	6,184					$	5,691
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total (1)						$	509					$	457					$	431

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 - 2022 10-K - Page 190

Schedule VI (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2022						2021						2020
Loss and loss expenses incurred related to current accident year:
Commercial lines insurance						$	2,837					$	2,293					$	2,431
Personal lines insurance						1,227						1,042						995
Excess and surplus lines insurance						324						243						192
Other						487						446						350
Total						$	4,875					$	4,024					$	3,968
Loss and loss expenses incurred related to prior accident years:
Commercial lines insurance						$	(76)					$	(353)					$	(95)
Personal lines insurance						(61)						(50)						(18)
Excess and surplus lines insurance						(9)						7						7
Other						(13)						(32)						(25)
Total						$	(159)					$	(428)					$	(131)
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	769					$	703					$	664
Personal lines insurance						311						276						256
Excess and surplus lines insurance						79						63						51
Other						144						109						86
Total						$	1,303					$	1,151					$	1,057
Paid loss and loss expenses:
Commercial lines insurance						$	2,211					$	1,806					$	1,969
Personal lines insurance						1,071						914						921
Excess and surplus lines insurance						145						118						112
Other						260						256						181
Total						$	3,687					$	3,094					$	3,183
Net written premiums:
Commercial lines insurance						$	4,159					$	3,811					$	3,534
Personal lines insurance						1,831						1,594						1,503
Excess and surplus lines insurance						502						426						348
Other						815						648						479
Total						$	7,307					$	6,479					$	5,864

Cincinnati Financial Corporation - 2022 10-K - Page 191

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 (incorporated by reference to Exhibit 10.6 filed with the company’s Annual Report on Form 10-K dated February 25, 2021)
10.3			Cincinnati Financial Corporation Nonemployee Director Deferred Compensation Plan (incorporated by reference to Exhibit 10.6 filed with the company’s Annual Report on Form 10-K dated February 25, 2021)
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 (incorporated by reference to the company’s Exhibit 10.6 filed with the company’s Annual Report on Form 10-K dated February 24, 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 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)

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Exhibit No.			Exhibit Description
10.13			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)
10.14			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 company’s Current Report on Form 8-K dated 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 company’s Current Report on Form 8-K dated February 21, 2013)
10.16			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)
10.17			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)
10.18			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)
10.19			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)
10.20			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)
10.21			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)
10.22			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)
10.23			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)
10.24			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)
10.25			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)
10.26			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)
10.27			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)
10.28			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)
10.29			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)
10.30			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)
10.31			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)

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Exhibit No.			Exhibit Description
10.32			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)
10.33			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)
10.34			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)
10.35			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)
10.36			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)
10.37			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)
10.38			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)
10.39			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/A dated November 14, 2019)
10.40			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)
10.41			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)
10.42			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)
10.43			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)
10.44			Amendment Letter No. 4 to the Letter of Credit Facility Agreement, dated October 31, 2022 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K, dated October 31, 2022)
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))

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Exhibit No.			Exhibit Description
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			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)

Cincinnati Financial Corporation - 2022 10-K - Page 195

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, Executive Vice President and Treasurer

(Principal Accounting Officer)

Date: February 23, 2023

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, Chief Executive Officer and Director			February 23, 2023
Steven J. Johnston
/S/ Michael J. Sewell			Chief Financial Officer, Executive Vice President and Treasurer			February 23, 2023
Michael J. Sewell
/S/ Thomas J. Aaron			Director			February 23, 2023
Thomas J. Aaron
/S/ Nancy C. Benacci			Director			February 23, 2023
Nancy C. Benacci
/S/ Linda W. Clement-Holmes			Director			February 23, 2023
Linda W. Clement-Holmes
/S/ Dirk J. Debbink			Director			February 23, 2023
Dirk J. Debbink
/S/ David P. Osborn			Director			February 23, 2023
David P. Osborn
/S/ Jill P. Meyer Pratt			Director			February 23, 2023
Jill P. Meyer Pratt
/S/ Gretchen W. Schar			Director			February 23, 2023
Gretchen W. Schar
/S/ Charles O. Schiff			Director			February 23, 2023
Charles O. Schiff
/S/ Douglas S. Skidmore			Director			February 23, 2023
Douglas S. Skidmore
/S/ John F. Steele, Jr.			Director			February 23, 2023
John F. Steele, Jr.
/S/ Larry R. Webb			Director			February 23, 2023
Larry R. Webb

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