Cincinnati Financial Corp (CINF) Q4 2019 Earnings Call Transcript

Cincinnati Financial Corp (CINF) Q4 2019 Earnings Call Transcript

Cincinnati Financial Corp ( NASDAQ:CINF ) Q4 2019 Earnings Call Feb 6, 2020 , 11:00 a.m. ET. Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter and Full Year 2019 Earnings Conference Call.. On the call, you'll first hear from Steve Johnston, President and Chief Executive Officer; and then from Chief Financial Officer, Mike Sewell.. After their prepared remarks, investors participating on the call may ask questions.. Operating results and overall financial performance for the fourth quarter and full year were excellent.. We believe we can successfully balance prudent underwriting and business growth to maintain or improve on the 2019 combined ratio before catastrophe effects for 2020 GAAP combined ratio in the low to mid-90% range.. The 2019 combined ratio for our commercial line segment improved by 2.5 percentage points for the year to 92.9% with about half of the improvement due to lower catastrophe losses.. Our personal lines segment continue to experience average rate increases in the mid-single digit range with the fourth quarter 2019 similar to the third quarter.. The personal lines combined ratio was profitable for both the quarter and year, and we're working toward further improvement.. Cincinnati Re continued to grow