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Cincinnati Financial Q3 revenue up

Cincinnati Financial Corporation has a reported total revenue of $1.07bn for the third quarter of 2010, compared to $1.01bn in the same quarter last year.

The company reported net income of $156m, or $0.95 per share, for the third quarter of 2010 compared to $171m, or $1.05 per share, for the same quarter of 2009.

Operating income was $56m, or $0.34per share, compared to $96m, or $0.59per share, for the third quarter of 2009.

Net premium written for the third quarter of the 2010 was $784m, compared to $766m in the same quarter a year ago.

Cincinnati Financial Corporation president and CEO Kenneth Stecher said, the balance sheet strength of Cincinnati Financial Corporation grew as of 30 September 2010, with assets topping $15bn and shareholders’ equity reaching $5bn.