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The company posted fourth-quartere net income of $161 million, or 99 centws per share, compared to $187 million, or $1.112 per share, in fourth-quarter 2007. Total revenues rose 4.2 to $1 billion from $977 million. Analysts, on average, had expectec operating income of 55 cents per compared toCincinnati Financial's 57 centsz per share for the fourth quarter, and revenuezs of $916 million. For the full Cincinnati Financial reported net incomrof $429 million, or $2.62 per share, down almost 50 percenr from $855 million, or $4.97 per in 2007. Total revenues rose to $3.8 billioj from $4.3 billion. The drop in investment incomwe – down 20.5 percenyt for the quarter and 11.
6 percent for the year contributed tolower profits. Cincinnati on Feb. 2, its stocok in (NASDAQ: FITB). The insurerr had once been thebanking company’s largesy shareholder. “As we stated on Monday, we’re working on a varietgy of initiatives, including the repositioning of ourinvestmenr portfolio, to preserve our capital strengthy and liquidity,” said Kennetbh Stecher, president and CEO, in a news release. The companyy is focusing on upgrading informatioj technology systems for its commercial andpersonal lines, as well as expandinyg its geographic footprint and adding more agents, Stecherd added. The property casualty combined ratiopwas 98.
9 percent for the quarter and 100.6 percentt for the year. Shares of Cincinnati Financiall (NASDAQ: CINF) lost 29 cents, to $21.73, in Thursday afternooj trading. Cincinnati Financial, headquartered in offers commercial, personal and life insurance products in theUnited
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