Cincinnati Financial Corporation

2008 First-quarter Letter to Shareholders

prev

next

Inside Cincinnati

Since our last Letter to Shareholders, these associates merited promotions:

Scott Albaugh, AIM, CPCU – Associate Territory Manager Greg Anderson – Senior Claims Specialist Greg Aumann – Senior Systems Specialist Scott Babb, AIC, AIM – Field Claims Manager Michelle Baker – Senior Programmer Analyst Jessica Ball – Senior Underwriter Jennifer Bartos, AU – Underwriting Specialist Nick Benjamin – Datacenter Facilities Manager Ben Bessler – Senior Underwriter Russ Blessing, AIS – Underwriting Specialist Mindy Bockewitz, AU – State Agent Mark Bowling – Senior Programmer Analyst Christine Brant – Claims Specialist Chris Byers – Underwriting Superintendent Mitch Carson, ALCM, ARM, CSP – Loss Control Field Supervisor Mario Castro, AIC – Claims Specialist Marcie Caudill – Underwriting Superintendent Connie Caudill, AIM – Underwriting Specialist Chris Chapin, AIC, AIM – Field Claims Manager Scott Chapman - Programmer Angela Cheek, AIM, API, CPCU – Underwriting Specialist Robert Cheeseman – Senior Network Engineer Brian Clapp – Senior Regional Director Jon Cooper, AIM, SCLA – Field Claims Manager Steve Corbly, AIM, CPCU – Associate Territory Manager Lynn Dassel, AIM, AU, CPCU – Senior Underwriting Manager Dave Dassel, AIM, AIS – Underwriting Superintendent Melissa Davidson – Claims Specialist David DeMara, AIC – Field Claims Superintendent Dumesha Dubose – Senior Underwriter Mel Ducklo, API – Underwriting Specialist Jana Emmons, API – Senior Underwriter Ryan Evans – Senior Programmer Alan Everson – Underwriting Specialist Vicki Faller – Regulatory Affairs Analyst Scot Feldmeyer, AIM – Underwriting Superintendent Tim Fitz, AIC – Superintendent Scott Fitzharris, AIM, API, CPCU – Underwriting Specialist Steve Fogle – Associate Superintendent Douglas Greer, AIS – Underwriting Superintendent Forrest Gregg, Jr. – Chief Underwriting Specialist Antonio Gregov, AIC – Senior Claims Specialist Michelle Gregov, CPCU – Regional Director Maureen Grogan, AU – Chief Underwriting Specialist Michelle Grove – Underwriting Specialist Tom Habig, AIC – Senior Claims Representative Melissa Hallbach – Tax Manager Chris Harrison, CPCU – Senior Field Analyst Tom Heming – Senior Regional Director Chris Hill – Underwriting Superintendent Christine Horton, API – Senior Diamond Support Analyst Lynn Hovekamp, AIC - Superintendent Seddrick Hubbard – Underwriting Specialist Melissa James – Senior Underwriter Craig Jenkins, AIC – Field Claims Superintendent Debbie Jenkins, CPCU – Regional Director Ming Jiang – Senior Programmer Analyst Josh Johnston, AIC – Claims Specialist Sean Jones – Senior Underwriter Pat Kalimootoo, AIS – Specialist Terron Kemp, AIC – Senior Claims Specialist Ken Kerby, AIC, AIM, CPCU – Associate Manager Claims Audit Mark Kinzer – Senior Regional Director Kevin Klatt, AIC – Senior Claims Representative Kristy Koerner – Senior Underwriter Shirley Krieger, AIC – Supervising Examiner Shane Krummen – Specialist Paul Kumpar – Senior Investigator Kristen Kurtz, CPCU – Senior Underwriter Joel LaFrange, ARM – Senior Loss Control Consultant Scott Lagedrost – Senior Underwriter Jason Laub, AIM – Underwriting Superintendent Matt Laws, Jr. – State Agent Matt Leugers – Programmer Aaron Levenson – Programmer Analyst

Jack Lindeman – Underwriting Director Patrick Loftis – Senior Investment Analyst Dan Longacre, AIC – Senior Claims Specialist La'Brina Love – Senior Underwriter Robin Maddox – Regional Director Dan McCaffrey, AFSB – Underwriting Director Marcus McClellan, AIC, CPCU – Senior Claims Specialist Scott McConkey, CLU, LUTCF – Senior Manager Kurt McKenna, AIS – Underwriting Superintendent Scott Meyer – Underwriting Specialist Matthew Miller – Underwriting Specialist Robert Miller – Personnel Superintendent Jennifer Mitchell – Senior Requirements Analyst Chris Monahan, AIM, CIC, CPCU – Field Director Steven Mosure – Senior Claims Specialist Dan Mullen – Supervisor Casualty Claims Jim Murphy – Underwriting Specialist Carl Musselman – Senior Machinery & Equipment Specialist Rhonda Napper, AIM – Underwriting Superintendent John Nicely – Systems Analyst Ryan Osborn – Division Manager Mike Otis – Regional Director Kay Patch, AIC – Senior Claims Representative Jay Patel – Systems Analyst Sean Patrick – Senior Underwriter Darla Pauley, AIC – Senior Claims Specialist Dennis Phelps – Claims Specialist Robert Polinchock – Machinery & Equipment Specialist Betsy Pierce – Senior Programmer Analyst John Redmond, CPCU – Regional Director Jody Reisch – Regional Director Ryan Rhoads – Senior Underwriter Jody Rhude, CIC, CPCU – Field Director Lisa Rhude, CIC, CPCU – Field Director Darren Richter – Underwriting Specialist Aaron Rieth – Senior Underwriter Scott Robinson, AIM, ARe, CPCU – Senior Underwriting Manager Angela Schneider, API – Underwriting Superintendent Jim Shadle – Claims Specialist Paul Shadrick, AIC – Senior Claims Representative Brian Shaffer, AIM – Underwriting Superintendent Bill Sheldon, CIC – Regional Director Meg Shumaker – State Agent Tammy Siler, CPCU – Chief Underwriting Specialist Chris Snyder – Senior Underwriter Alok Soni – Senior Systems Analyst Damian Stark, AIM, API, AU, CPCU – Underwriting Specialist Scott Stevens – Underwriting Specialist Jim Stires – Field Director Jason Stofel – Senior Underwriter Lisa Sucher, AIC – Claims Specialist Mary Sweeney – Specialist Andy Tebbe, AIM, API – Underwriting Manager Mary Thomas – Underwriting Specialist Jeffrey Thullen – Lead Network Analyst Julie Tucker, AIM, AIS, API – Underwriting Specialist Thomas Ulrich – Senior Underwriter Tracy Valis – Diamond Support Analyst James Van Horn – Senior Claims Specialist Doronna Vickers – Analyst Jeff Viel, AIM, RPLU – Underwriting Director Peggy Volk – Claims Specialist Sherell Walker – Underwriting Specialist Julie Wallace, AIT – Systems Analyst Jennifer West, API, CPCU – Underwriting Specialist Billy Williams – Database Engineer Michael Wood, AIAF, CIA, CPA, CPCU – Internal Auditor Specialist Glen Wooldridge – Senior Claims Specialist Nicholas Wright – Senior Field Underwriter Karen Wright, API – Diamond Senior Analyst Joe Wurzelbacher – Accountant Joe Yannetti, CPCU – Underwriting Superintendent John Zimmer – Chief Underwriting Specialist

Professional Development
We continue to build on the education and training support your company offers to local independent agencies, using this proven strength to help earn our position as the preferred carrier in each agency. We have reorganized and stepped up training activities to introduce newly appointed agencies to our systems and processes. In June, we are implementing a new approach, sending a quick-start team to each new agency. These teams will demonstrate our commitment to making it easy for agency staff to do business with Cincinnati, introducing them to individuals who can help them work effectively with tools from various departments including Commercial Lines, Personal Lines, Agency Accounting and Information Technology.

We encourage and reward associates who continue their professional insurance education, earning credentials by meeting high academic, ethical and length-of-experience standards. Congratulations to Shannon Daugherty and Greg Knifley who completed a series of courses to earn the Chartered Property Casualty Underwriter (CPCU) designation; to Ted Hilgeman, who earned the Certified Public Accountant (CPA) designation; and to Angela Burns who recently passed the Ohio Bar Exam.

The ABC Award recognizes exemplary productivity, service and quality in exceptional associates. The ABC Award committee recently granted the quarterly Above and Beyond the Call (ABC) award to Carrie McKitrick, AIM, CPCU, Personal Lines, and Carol Ward, Headquarters Claims. Congratulations to these quarterly winners!

Financial Services
The company's three financial services subsidiaries continue to successfully leverage our insurance relationships and broaden our offerings. As of March 31, 2008, CFC Investment Company, which offers equipment and vehicle leases and loans, reported 2,450 accounts representing $83 million in net receivables. CinFin Capital Management Company, which offers asset management services, reported $957 million under management in 64 accounts.

CSU Producer Resources Inc., the new, wholly owned insurance brokerage subsidiary of parent-company Cincinnati Financial Corporation, began accepting excess and surplus lines risks in Ohio, Indiana, Illinois, Wisconsin and Georgia. CSU Producer Resources has binding authority on all classes of business written through The Cincinnati Specialty Underwriters Insurance Company and maintains appropriate agent and surplus lines licenses to process non-admitted business. Cincinnati Speciality Underwriters and CSU Producer Resources plan to expand into all states except Delaware on an excess and surplus lines basis as the new companies obtain the necessary state regulatory approvals.

We structured our new excess and surplus operations to exclusively serve the needs of the independent agencies that currently market our standard market insurance policies. CSU Producer Resources currently markets and underwrites general liability coverages and plans to expand this to include commercial property, multi-peril insurance, miscellaneous professional liability and excess casualty in coming months. Our excess and surplus lines operation issued nearly $1 million of new premiums in the first quarter of 2008.

This report contains forward-looking statements that involve potential risks and uncertainties. For factors that could cause results to differ materially from those discussed, please see the most recent edition of our safe harbor statement under the Private Securities Litigation Reform Act of 1995. To view or print the edition in effect as of this report's initial publication date, please view this document as a printable PDF.

prev

back to top

next