Press release from PR Newswire
Connecticut Agency Appointed to Represent The Cincinnati Insurance Company
Wednesday, October 20, 2010
CINCINNATI, Oct. 20 /PRNewswire-FirstCall/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today announced that its lead property casualty insurance subsidiary, The Cincinnati Insurance Company, began marketing in Connecticut with the appointment of Rose & Kiernan Inc., an independent insurance agency serving Danbury, Connecticut. Cincinnati Insurance executives formalized the relationship today at the company's headquarters, welcoming agency representatives Sean Hickey, RPLU, ARM, senior vice president, and Arnold Finaldi, Jr., CPCU, senior vice president. The agency is a branch of Rose & Kiernan Inc. in East Greenbush, New York, which has represented Cincinnati since 2001.
President and CEO Kenneth W. Stecher said, "Connecticut is our 38th state of operation. We continually evaluate opportunities for profitable growth in areas that neighbor our active states, especially areas that will help over time to diversify our geographic footprint. Connecticut's favorable regulatory and political environment and its stable weather patterns also attracted us. Opening Connecticut continues our expansion initiative that, in recent years, has focused almost exclusively in the West. In New Mexico and eastern Washington, states entered in 2007, we appointed 13 agencies through 2009, earning an almost 5 percent share of their total agency annual premium volume as of the end of 2009. In Texas, entered in late 2008, net written premiums for the first six months of 2010 rose to $15 million compared with $3 million for the same period of 2009."
Executive Vice President J.F. Scherer commented, "To provide local support to agents in this new western Connecticut and southeastern New York territory, we've hired experienced field marketing representative Vincent M. Sinopoli, AAI, from Rocky Hill, Connecticut. Vincent will meet with additional agencies to select those that share our commitment to quality, value and service, with the goal of getting those agencies up and running quickly to deliver our steady underwriting approach to the businesses in this territory. Agents in this area tell us they are eager to bring their commercial clients Cincinnati's industry-leading claims service, broad coverages, highly competitive multi-year policies and solid financial strength."
Cincinnati Financial Corporation offers business, home and auto insurance, our main business, through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of our other subsidiaries, including life and disability income insurance, annuities and surplus lines property and casualty insurance. For additional information about the company, please visit www.cinfin.com.
P.O. Box 145496
6200 South Gilmore Road
Cincinnati, Ohio 45250-5496
Fairfield, Ohio 45014-5141
SOURCE Cincinnati Financial Corporation
For further information: Investors, Dennis E. McDaniel, +1-513-870-2768, CINF-IR@cinfin.com; or Media, Joan O. Shevchik, +1-513-603-5323, Media_Inquiries@cinfin.com