Cincinnati Financial Corp. expects a loss between $25 million and $35 million to be recorded in the fourth quarter because of claims generated by Superstorm Sandy.
The insurer of homes, autos and businesses says about two-thirds of the expected pretax catastrophe loss will come from the commercial lines segment.
President and CEO Steven J. Johnston says the effect of these losses on the company's combined ratio will be about three times higher than its historical 10-year average of 1.1 points for the fourth quarter, provided that Cincinnati Insurance Co. experiences no additional effects from Sandy during the last quarter of 2012.
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