辛辛那提金融 2024年度报告

Form10-K ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year endedDecember 31, 2024. ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _____________________ to _____________________. Commission file number000-04604 Cincinnati Financial Corporation (Exact name of registrant as specified in its charter) Ohio31-0746871(State of incorporation)(I.R.S. Employer Identification No.) 6200 S. Gilmore RoadFairfield,Ohio45014-5141(Address of principal executive offices) (Zip Code)(513)870-2000(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon stock, $2.00 parCINFNasdaq Global Select Market Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☑No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☑ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports) and (2) has been subject to such filing requirements for the past 90 days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or emerging growth company. See definition of “large accelerated filer,” “accelerated filer,”“smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. Table of Contents Large accelerated filer☑Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements ofthe registrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant’s executive officers during the relevant recovery periodpursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☑ The aggregate market value of voting stock held by nonaffiliates of the Registrant based on the closing price of $118.10per share as reported on Nasdaq Global Select Market on June 30, 2024, was $18,106,771,595. AsofFebruary 14, 2025, there were156,523,953shares of common stock outstanding. Document Incorporated by Reference Portions of the definitive Proxy Statement for Cincinnati Financial Corporation’s Annual Meeting of Shareholders to beheld on May3, 2025, are incorporated by reference into Part III of this Form 10-K. Cincinnati Financial Corporation - 2024 10-K - Page 2 2024 ANNUAL REPORT ON FORM 10-K Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure179Item 9A.Controls and Procedures179Item 9B.Other Information179Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections179Part III180Item 10.Directors, Executive Officers and Corporate Governance180Item 11.Executive Compensation182Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholderMatters182Item 13.Certain Relationships and Related Transactions, and Director Independence183Item 14.Principal Accounting Fees and Services183Part IV184Item 15.Exhibit and Financial Statement Schedules184Item 16.Form 10-K Summary184 Cincinnati Financial Corporation - 2024 10-K - Page 4 Part I ITEM1.Business Cincinnati Financial Corporation – Introduction We are an Ohio corporation formed in 1968. O