Item 16. Form 10-K Summary

This item is not applicable to the company.

Cincinnati Financial Corporation - 2023 10-K - Page 187

Schedule I

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2023
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Fixed maturities:
States, municipalities and political subdivisions:
The Cincinnati Insurance Company						$	3,339					$	3,278					$	3,278
The Cincinnati Casualty Company						239						231						231
The Cincinnati Indemnity Company						50						49						49
The Cincinnati Life Insurance Company						447						388						388
The Cincinnati Specialty Underwriters Insurance Company						738						710						710
Cincinnati Financial Corporation						54						47						47
Total						4,867						4,703						4,703
United States government:
The Cincinnati Insurance Company						122						119						119
The Cincinnati Casualty Company						1						1						1
The Cincinnati Indemnity Company						1						1						1
Cincinnati Global Underwriting Ltd.						79						79						79
Total						203						200						200
Government-sponsored enterprises:
The Cincinnati Insurance Company						641						641						641
The Cincinnati Casualty Company						25						25						25
The Cincinnati Indemnity Company						6						6						6
The Cincinnati Life Insurance Company						320						318						318
The Cincinnati Specialty Underwriters Insurance Company						126						126						126
Cincinnati Global Underwriting Ltd.						6						5						5
Cincinnati Financial Corporation						103						103						103
Total						1,227						1,224						1,224
Foreign government:
Cincinnati Global Underwriting Ltd.						25						25						25
Total						25						25						25
All other corporate bonds:
The Cincinnati Insurance Company						4,147						3,955						3,955
The Cincinnati Casualty Company						98						89						89
The Cincinnati Indemnity Company						35						33						33
The Cincinnati Life Insurance Company						3,176						3,005						3,005
The Cincinnati Specialty Underwriters Insurance Company						398						373						373
Cincinnati Global Underwriting Ltd.						158						158						158
Cincinnati Financial Corporation						27						26						26
Total						8,039						7,639						7,639
Total fixed maturities						$	14,361					$	13,791					$	13,791

Cincinnati Financial Corporation - 2023 10-K - Page 188

Schedule I (continued)

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2023
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Equity securities:
Common equities:
The Cincinnati Insurance Company						$	2,025					$	5,558					$	5,558
The Cincinnati Casualty Company						58						171						171
The Cincinnati Indemnity Company						18						40						40
The Cincinnati Specialty Underwriters Insurance Company						109						302						302
CSU Producer Resources Inc.						17						28						28
Cincinnati Financial Corporation						1,642						4,542						4,542
Total						3,869						10,641						10,641
Nonredeemable preferred equities:
The Cincinnati Insurance Company						397						334						334
The Cincinnati Life Insurance Company						13						12						12
Cincinnati Financial Corporation						3						2						2
Total						413						348						348
Total equity securities						$	4,282					$	10,989					$	10,989
Other invested assets:
Policy loans:
The Cincinnati Life Insurance Company						$	33					—						$	33
Deposits at Lloyd's:
Cincinnati Global Underwriting Ltd.						39						—						39
Cincinnati Financial Corporation						5						—						5
Private equity:
The Cincinnati Insurance Company (1)						389						—						389
The Cincinnati Life Insurance Company (1)						5						—						5
Cincinnati Financial Corporation (1)						40						—						40
Real estate:
The Cincinnati Insurance Company (1)						58						—						58
The Cincinnati Life Insurance Company (1)						4						—						4
Cincinnati Financial Corporation (1)						4						—						4
Total other invested assets						$	577					—						$	577
Total investments						$	19,220					—						$	25,357

Notes to Schedule I:

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

Cincinnati Financial Corporation - 2023 10-K - Page 189

Schedule II

Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions)						At December 31,
						2023						2022
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2023—$184; 2022—$91)						$	176					$	78
Equity securities, at fair value (cost: 2023—$1,645; 2022—$1,734)						4,544						3,978
Other invested assets						49						53
Total investments						4,769						4,109
Cash and cash equivalents						138						121
Equity in net assets of subsidiaries						8,481						7,427
Investment income receivable						13						11
Land, building and equipment, net, for company use (accumulated depreciation: 2023—$164; 2022—$156)						138						136
Income tax receivable						4						5
Other assets						150						116
Due from subsidiaries						40						102
Total assets						$	13,733					$	12,027
Liabilities
Dividends declared but unpaid						$	118					$	108
Deferred federal income tax						624						480
Long-term debt						789						789
Other liabilities						104						88
Total liabilities						1,635						1,465
Shareholders' Equity
Common stock						397						397
Paid-in capital						1,437						1,392
Retained earnings						13,084						11,711
Accumulated other comprehensive income						(435)						(614)
Treasury stock, at cost						(2,385)						(2,324)
Total shareholders' equity						12,098						10,562
Total liabilities and shareholders' equity						$	13,733					$	12,027

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 - 2023 10-K - Page 190

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income and Comprehensive Income
(Dollars in millions)						Years ended December 31,
						2023						2022						2021
Revenues
Investment income, net of expenses						$	109					$	101					$	91
Investment gains and losses, net						644						(790)						1,058
Other revenue						15						15						15
Total revenues						768						(674)						1,164
Expenses
Interest expense						52						53						53
Other expenses						38						33						32
Total expenses						90						86						85
Income (Loss) Before Income Taxes and Earnings of Subsidiaries						678						(760)						1,079
Provision (Benefit) for Income Taxes						134						(161)						217
Net Income (Loss) Before Earnings of Subsidiaries						544						(599)						862
Increase in equity of subsidiaries						1,299						112						2,106
Net Income (Loss)						$	1,843					$	(487)					$	2,968
Other Comprehensive Income (Loss), Net of Taxes
Change in unrealized gain on securities						4						(10)						1
Amortization of pension actuarial gains (losses) and prior service costs						(5)						7						54
Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income (Loss) of Subsidiaries						(1)						(3)						55
Other comprehensive income (loss) of subsidiaries						180						(908)						(93)
Other comprehensive income (loss)						179						(911)						(38)
Comprehensive Income (Loss)						$	2,022					$	(1,398)					$	2,930

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 - 2023 10-K - Page 191

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions)						Years ended December 31,
						2023						2022						2021
Cash Flows From Operating Activities
Net income						$	1,843					$	(487)					$	2,968
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization and other						10						9						10
Investment gains and losses, net						(644)						792						(1,034)
Dividends from subsidiaries						426						729						598
Changes in:
Increase in equity of subsidiaries						(1,299)						(112)						(2,106)
Current federal income taxes						1						(6)						6
Deferred income tax						144						(183)						220
Other assets						(12)						(7)						5
Other liabilities						3						1						—
Intercompany receivable for operations						95						28						5
Net cash provided by operating activities						567						764						672
Cash Flows From Investing Activities
Sale, call or maturity of fixed maturities						17						1						22
Sale of equity securities						138						192						25
Purchase of fixed maturities						(119)						(30)						(19)
Purchase of equity securities						(65)						(187)						(82)
Investment in buildings and equipment						(10)						(4)						(6)
Change in other invested assets, net						—						(4)						108
Net cash (used in) received from investing activities						(39)						(32)						48
Cash Flows From Financing Activities
Payment of cash dividends to shareholders						(454)						(423)						(395)
Shares acquired - share repurchase authorization						(67)						(410)						(144)
Proceeds from stock options exercised						9						10						13
Other						1						1						1
Net cash used in financing activities						(511)						(822)						(525)
Net change in cash and cash equivalents						17						(90)						195
Cash and cash equivalents at beginning of year						121						211						16
Cash and cash equivalents at end of year						$	138					$	121					$	211

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 - 2023 10-K - Page 192

Schedule III

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2023						2022						2021
Deferred policy acquisition costs:
Commercial lines insurance						$	387					$	372					$	345
Personal lines insurance						210						168						145
Excess and surplus lines insurance						43						37						33
Other						109						105						79
Total property casualty insurance						749						682						602
Life insurance						344						331						314
Total						$	1,093					$	1,013					$	916
Gross future policy benefits, losses, claims and expense losses:
Commercial lines insurance						$	5,887					$	5,568					$	5,007
Personal lines insurance						990						916						814
Excess and surplus lines insurance						932						753						577
Other						1,166						1,099						831
Total property casualty insurance						8,975						8,336						7,229
Life insurance						3,094						3,038						3,498
Total (1)						$	12,069					$	11,374					$	10,727
Gross unearned premiums:
Commercial lines insurance						$	2,111					$	2,021					$	1,857
Personal lines insurance						1,253						994						850
Excess and surplus lines insurance						273						236						207
Other						481						437						356
Total property casualty insurance						4,118						3,688						3,270
Life insurance						1						1						1
Total (1)						$	4,119					$	3,689					$	3,271
Other policy claims and benefits payable:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance						—						—						—
Life insurance						49						41						53
Total (1)						$	49					$	41					$	53
Earned premiums:
Commercial lines insurance						$	4,264					$	4,024					$	3,674
Personal lines insurance						2,044						1,689						1,542
Excess and surplus lines insurance						542						485						398
Other						795						726						570
Total property casualty insurance						7,645						6,924						6,184
Life insurance						313						301						294
Total						$	7,958					$	7,225					$	6,478

Cincinnati Financial Corporation - 2023 10-K - Page 193

Schedule III (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2023						2022						2021
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance (2)						602						509						457
Life insurance						184						171						166
Total						$	786					$	680					$	623
Benefits, claims losses and settlement expenses:
Commercial lines insurance						$	2,787					$	2,761					$	1,940
Personal lines insurance						1,442						1,166						992
Excess and surplus lines insurance						350						315						250
Other						379						474						414
Total property casualty insurance						4,958						4,716						3,596
Life insurance						316						303						313
Total						$	5,274					$	5,019					$	3,909
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	808					$	769					$	703
Personal lines insurance						367						311						276
Excess and surplus lines insurance						89						79						63
Other						157						144						109
Total property casualty insurance						1,421						1,303						1,151
Life insurance						29						27						25
Total (3)						$	1,450					$	1,330					$	1,176
Underwriting, acquisition and insurance expenses:
Commercial lines insurance						$	505					$	460					$	437
Personal lines insurance						243						198						181
Excess and surplus lines insurance						52						45						43
Other						76						72						55
Total property casualty insurance						876						775						716
Life insurance						58						57						54
Total (3)						$	934					$	832					$	770
Net written premiums:
Commercial lines insurance						$	4,336					$	4,159					$	3,811
Personal lines insurance						2,302						1,831						1,594
Excess and surplus lines insurance						570						502						426
Other						838						815						648
Total property casualty insurance						8,046						7,307						6,479
Accident and health insurance						2						2						2
Total						$	8,048					$	7,309					$	6,481

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 - 2023 10-K - Page 194

Schedule IV

Cincinnati Financial Corporation and Subsidiaries
Reinsurance
(Dollars in millions)						Years ended December 31,
						2023						2022						2021
Gross amounts:
Life insurance in force						$	122,053					$	120,147					$	116,697
Earned premiums
Commercial lines insurance						$	4,399					$	4,150					$	3,777
Personal lines insurance						2,117						1,755						1,586
Excess and surplus lines insurance						572						510						417
Other						319						262						216
Total property casualty insurance						7,407						6,677						5,996
Life insurance						394						379						370
Total						$	7,801					$	7,056					$	6,366
Ceded amounts to other companies:
Life insurance in force						$	39,692					$	39,665					$	39,204
Earned premiums
Commercial lines insurance						$	147					$	137					$	115
Personal lines insurance						74						67						45
Excess and surplus lines insurance						30						25						19
Other						80						85						76
Total property casualty insurance						331						314						255
Life insurance						81						78						76
Total						$	412					$	392					$	331
Assumed amounts from other companies:
Life insurance in force						$	—					$	—					$	—
Earned premiums
Commercial lines insurance						$	12					$	11					$	12
Personal lines insurance						1						1						1
Excess and surplus lines insurance						—						—						—
Other						556						549						430
Total property casualty insurance						569						561						443
Life insurance						—						—						—
Total						$	569					$	561					$	443
Net amounts:
Life insurance in force						$	82,361					$	80,482					$	77,493
Earned premiums
Commercial lines insurance						$	4,264					$	4,024					$	3,674
Personal lines insurance						2,044						1,689						1,542
Excess and surplus lines insurance						542						485						398
Other						795						726						570
Total property casualty insurance						7,645						6,924						6,184
Life insurance						313						301						294
Total						$	7,958					$	7,225					$	6,478
Percentage of amounts assumed to net:
Life insurance in force						—		%				—		%				—		%
Earned premiums
Commercial lines insurance						0.3		%				0.3		%				0.3		%
Personal lines insurance						—						0.1						0.1
Excess and surplus lines insurance						—						—						—
Other						69.9						75.6						75.4
Total property casualty insurance						7.4						8.1						7.2
Life insurance						—						—						—
Total						7.2						7.8						6.8

Cincinnati Financial Corporation - 2023 10-K - Page 195

Schedule V

Cincinnati Financial Corporation and Subsidiaries
Valuation and Qualifying Accounts
(Dollars in millions)						At December 31,
						2023						2022						2021
Allowance for credit losses (1):
Beginning balance, January 1						$	17					$	16					$	22
Additions charged to costs and expenses						33						15						14
Deductions						(14)						(14)						(20)
Ending balance, December 31						$	36					$	17					$	16
Deferred tax valuation allowance:
Beginning balance, January 1						$	31					$	53					$	56
Additions charged to costs and expenses						—						—						—
Deductions						(31)						(22)						(3)
Ending balance, December 31						—						31						53
Total valuation and qualifying accounts						$	36					$	48					$	69

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 - 2023 10-K - Page 196

Schedule VI

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2023						2022						2021
Deferred policy acquisition costs:
Commercial lines insurance						$	387					$	372					$	345
Personal lines insurance						210						168						145
Excess and surplus lines insurance						43						37						33
Other						109						105						79
Total						$	749					$	682					$	602
Reserves for unpaid claims and claim adjustment expenses:
Commercial lines insurance						$	5,887					$	5,568					$	5,007
Personal lines insurance						990						916						814
Excess and surplus lines insurance						932						753						577
Other						1,166						1,099						831
Total						$	8,975					$	8,336					$	7,229
Reserve discount deducted						$	—					$	—					$	—
Gross unearned premiums:
Commercial lines insurance						$	2,111					$	2,021					$	1,857
Personal lines insurance						1,253						994						850
Excess and surplus lines insurance						273						236						207
Other						481						437						356
Total						$	4,118					$	3,688					$	3,270
Earned premiums:
Commercial lines insurance						$	4,264					$	4,024					$	3,674
Personal lines insurance						2,044						1,689						1,542
Excess and surplus lines insurance						542						485						398
Other						795						726						570
Total						$	7,645					$	6,924					$	6,184
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total (1)						$	602					$	509					$	457

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 - 2023 10-K - Page 197

Schedule VI (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2023						2022						2021
Loss and loss expenses incurred related to current accident year:
Commercial lines insurance						$	2,910					$	2,837					$	2,293
Personal lines insurance						1,506						1,227						1,042
Excess and surplus lines insurance						361						324						243
Other						396						487						446
Total						$	5,173					$	4,875					$	4,024
Loss and loss expenses incurred related to prior accident years:
Commercial lines insurance						$	(123)					$	(76)					$	(353)
Personal lines insurance						(64)						(61)						(50)
Excess and surplus lines insurance						(11)						(9)						7
Other						(17)						(13)						(32)
Total						$	(215)					$	(159)					$	(428)
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	808					$	769					$	703
Personal lines insurance						367						311						276
Excess and surplus lines insurance						89						79						63
Other						157						144						109
Total						$	1,421					$	1,303					$	1,151
Paid loss and loss expenses:
Commercial lines insurance						$	2,480					$	2,211					$	1,806
Personal lines insurance						1,353						1,071						914
Excess and surplus lines insurance						183						145						118
Other						260						260						256
Total						$	4,276					$	3,687					$	3,094
Net written premiums:
Commercial lines insurance						$	4,336					$	4,159					$	3,811
Personal lines insurance						2,302						1,831						1,594
Excess and surplus lines insurance						570						502						426
Other						838						815						648
Total						$	8,046					$	7,307					$	6,479

Cincinnati Financial Corporation - 2023 10-K - Page 198

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 6, 2023 (incorporated by reference to Exhibit 3.1 filed with the company’s Current Report on Form 8-K dated May 9, 2023)
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 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)
10.5			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)
10.6			Cincinnati Financial Corporation 2006 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 30, 2006)
10.7			Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 16, 2012)
10.8			Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to the company’s Definitive Proxy Statement dated March 16, 2016, Appendix B)
10.9			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)
10.10			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)
10.11			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)

Cincinnati Financial Corporation - 2023 10-K - Page 199

Exhibit No.			Exhibit Description
10.13			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)
10.14			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)
10.15			Form of Incentive Compensation Agreement for the 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 January 30, 2017)
10.16			Form of Incentive Compensation Agreement for the Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 29, 2022 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated January 29, 2024)
10.17			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)
10.18			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)
10.19			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)
10.20			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)
10.21			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)
10.22			Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.2 filed with the company’s Current Report on Form 8-K dated January 29, 2024)
10.23			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)
10.24			Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.3 filed with the company’s Current Report on Form 8-K dated January 29, 2024)
10.25			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)
10.26			Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.4 filed with the company’s Current Report on Form 8-K dated January 29, 2024)
10.27			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)
10.28			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)
10.29			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)

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Exhibit No.			Exhibit Description
10.30			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)
10.31			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)
10.32			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)
10.33			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)
10.34			Fifth 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 23, 2023 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated March 23, 2023)
10.35			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)
10.36			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)
10.37			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)
10.38			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)
10.39			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)
10.40			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)
10.41			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)
10.42			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)
10.43			Amendment Letter No. 5 to the Letter of Credit Facility Agreement, dated October 31, 2023 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K, dated October 31, 2023)
11			Statement re: Computation of per share earnings for the years ended December 31, 2023, 2022, and 2021, contained in Part II, Item 8, Note 12, to the Consolidated Financial Statements

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Exhibit No.			Exhibit Description
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))
19			Cincinnati Financial Corporation Securities Trading Policy And Addendum to Securities Trading Policy For Pre-Clearance And Blackout Procedures
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
97			Cincinnati Financial Corporation Policy For The Recovery of Erroneously Awarded Compensation
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 - 2023 10-K - Page 202

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 26, 2024

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 26, 2024
Steven J. Johnston
/S/ Stephen M. Spray			President and Director			February 26, 2024
Stephen M. Spray
/S/ Michael J. Sewell			Chief Financial Officer, Executive Vice President and Treasurer			February 26, 2024
Michael J. Sewell
/S/ Thomas J. Aaron			Director			February 26, 2024
Thomas J. Aaron
/S/ Nancy C. Benacci			Director			February 26, 2024
Nancy C. Benacci
/S/ Linda W. Clement-Holmes			Director			February 26, 2024
Linda W. Clement-Holmes
/S/ Dirk J. Debbink			Director			February 26, 2024
Dirk J. Debbink
/S/ Jill P. Meyer			Director			February 26, 2024
Jill P. Meyer
/S/ David P. Osborn			Director			February 26, 2024
David P. Osborn
/S/ Gretchen W. Schar			Director			February 26, 2024
Gretchen W. Schar
/S/ Charles O. Schiff			Director			February 26, 2024
Charles O. Schiff
/S/ Douglas S. Skidmore			Director			February 26, 2024
Douglas S. Skidmore
/S/ John F. Steele, Jr.			Director			February 26, 2024
John F. Steele, Jr.
/S/ Larry R. Webb			Director			February 26, 2024
Larry R. Webb
/S/ Chengsheng Peter Wu			Director			February 26, 2024
Chengsheng Peter Wu

Cincinnati Financial Corporation - 2023 10-K - Page 203