July 28 (Reuters) - Property and casualty insurer Cincinnati Financial CINF.O reported on Monday that its second-quarter profit more than doubled, reflecting higher premiums and investment income.
The results reflect the stability of insurance firms, even as trade tensions disrupt other businesses. As consumers and companies grow accustomed to economic uncertainty, spending on policies has remained steady.
Earned premiums rose 15% to $2.48 billion, the Fairfield, Ohio-based company said.
Investment income jumped 18% to $285 million, driven by higher interest payments from its bond portfolio.
The company reported a profit of $685 million, or $4.34 per share, for the three months ended June 30, compared with $312 million, or $1.98 per share, a year earlier.
Its shares have risen nearly 4% so far this year as of Friday's close, compared with a nearly 2.3% gain in the S&P 500 insurance index .SPXIN.
Earlier this month, industry bellwether Travelers Companies TRV.N reported higher profits due to stronger underwriting and investment returns.
(Reporting by Ateev Bhandari and Niket Nishant in Bengaluru; Editing by Mohammed Safi Shamsi)
((Niket.Nishant@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.