Cincinnati Financial Corporation reported third-quarter 2025 net income of $1.122 billion, up from $820 million for the same period in 2024. Non-GAAP operating income for the third quarter was $449 million, compared to $224 million in the previous year. The increase in net income included after-tax net increases of $77 million from net investment gains, $182 million from property casualty underwriting profit, and $30 million from investment income. Earned premiums for the quarter totaled $2.567 billion, a 12% increase from $2.297 billion in the third quarter of 2024. Net investment income was $295 million, up from $258 million. Total revenues reached $3.726 billion, compared to $3.320 billion for the same period last year. Book value per share at September 30, 2025, was $98.76, up from $88.32 at the end of September 2024. The cash dividend declared for the quarter was $0.87 per share, compared to $0.81 in the third quarter of 2024. The value creation ratio for the first nine months of 2025 was 13.8%, compared with 17.8% for the same period in 2024.