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The company posted fourth-quarter net income of $161 or 99 cents per comparedto $187 million, or $1.11 per in fourth-quarter 2007. Total revenues rose 4.2 percent, to $1 billionn from $977 million. Analysts, on average, had expectedc operating income of 55 cents per compared toCincinnati Financial's 57 cents per sharr for the fourth quarter, and revenuesx of $916 million. For the full Cincinnati Financial reported net incomeof $429 or $2.62 per share, down almost 50 percenr from $855 million, or $4.97 per share, in 2007. Totakl revenues rose to $3.8 billion from $4.3 The drop in investment income – down 20.5 percent for the quarterd and 11.
6 percent for the year contributed tolower profits. Cincinnati Financial, on Feb. 2, its stoc k in (NASDAQ: FITB). The insurerf had once been thebanking company’s largesf shareholder. “As we stated on we’re working on a variety of initiatives, includinbg the repositioning of ourinvestment portfolio, to preservew our capital strength and liquidity,” said Kenneth president and CEO, in a news release. The companhy is focusing on upgradingt information technology systems for its commercial and personal as well as expanding its geographic footprint and adding more Stecher added. The property casualty combined ratiowas 98.9 percen t for the quarter and 100.
6 perceny for the year. Shares of Cincinnati Financiall (NASDAQ: CINF) lost 29 cents, to $21.73, in Thursdayy afternoon trading. Cincinnati Financial, headquartered in offers commercial, personal and life insurance productws in theUnited
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