A.M. Best Places Cincinnati Insurance Under Review

Concurrently, A.M. Best has also placed the FSR of A+ (Superior) and ICR of "aa-" of The Cincinnati Life Insurance Co. under review with negative implications and the ICR and senior debt ratings of "aa-"of CIC and Cincinnati Life's publicly traded parent, Cincinnati Financial Corp. under review with negative implications. The stand alone ratings of The Cincinnati Specialty Underwriters Insurance Co., Inc. are unaffected. All companies are domiciled in Fairfield, Ohio. A.M. Best said these rating actions reflect the rapid decline in the value of CINF's equity portfolio, along with an associated decline in future dividend income from that portfolio. In addition, the group has suffered significant catastrophic losses through second quarter 2008 and remains susceptible to competitive pricing pressures, according to the rating... [read full story]