Cincinnati Financial

Balance sheet quality is a standout: debt-to-capital near 5%, strong holding company liquidity, and statutory capital well above requirements. Year-end 2024 P&C RBC was about 5.7x authorized control level with a premiums-to-surplus ratio near 1.0x; life RBC was roughly 9x.

Ratings are robust (AM Best A+; Fitch upgrade to AA-), supporting distribution and reinsurance access. Fixed maturity portfolio is predominantly investment grade, while the sizable equity book increases book value sensitivity to markets but is backed by ample surplus and liquidity. Overall, solvency and funding flexibility are excellent.