Summer 2027
Posted on 9/3/2026
Underwrites property and casualty insurance.
$18/hr
No H1B Sponsorship
Fairfield, OH, USA
In Person
Bachelor's
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Cincinnati Financial provides property and casualty insurance through The Cincinnati Insurance Companies, distributed by independent agents to reach a broad market. It offers personal lines (homeowners, auto, personal liability) and commercial lines (general liability, property, casualty), plus life insurance, disability income, and annuities through Cincinnati Life. The products work by underwriting policies and investing premiums to generate income; customers pay premiums and receive coverage when incidents occur, while the company earns returns on its investment portfolio. The independent-agent distribution and multi-line product mix help it serve individuals and businesses across a wide range of needs, differentiating it from peers that rely on direct sales or narrower lines. The goal is to provide steady protection and financial security to clients while growing through prudent underwriting and investment management.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Fairfield, California
Founded
1950
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Paid Vacation
401(k) Company Match
Stock Options
Hybrid Work Options
People moves: Cincinnati Insurance chief claims officer Schambow to retire, mcmillan to assume responsibilities. September 2, 2026 Cincinnati Financial Corporation announced that Marc J. Schambow, CPCU, AIM, ASLI, chief claims officer for its property casualty subsidiaries, led by The Cincinnati Insurance Company, will retire in January 2027. Schambow has served as Cincinnati's top claims officer since 2020, capping a nearly 40-year career with the company. After serving agents and policyholders as a field claims representative in Wisconsin for nearly a decade, he moved to Ohio as a casualty claims supervisor in 1997. Schambow became the first claims manager for The Cincinnati Specialty Underwriters Insurance Company in 2007 and transitioned to lead the field claims team in 2014. Todd V. McMillan, J.D., will assume executive responsibility for the headquarters and field claims teams upon Schambow's retirement. McMillan is an industry veteran with nearly 30 years of experience, most recently serving as corporate senior vice president, head of liability claims for Safety National Casualty Corporation. McMillan started his career in private practice and then as staff counsel for GEICO before joining The Hartford in 2003 where he held a variety of claims leadership roles of increasing responsibility. As part of this transition, executive oversight of the company's claims operations will transition to Thomas C. Hogan, Esq., chief legal officer. Was this article valuable? Interested in claims? Get automatic alerts for this topic.
Manufacturer Life Insurance's $14.41M investment in Cincinnati Financial showcases institutional confidence and investment trends in the insurance sector.
Cincinnati Financial Corporation raised its quarterly dividend to $0.94 per share from $0.87, marking an 8% increase and extending its dividend-growth streak to 66 consecutive years. The annualised dividend now stands at $3.76 per share, up from $3.48. The company reported $32.0 billion in total investments as of 31 March 2026, with a debt-to-total-capital ratio of 4.9%. First-quarter cash dividends totalled $133 million against net income of $274 million. However, the insurer's first-quarter GAAP combined ratio reached 95.6%, with catastrophe losses accounting for 11.3 percentage points. Management stated the increase reflected confidence in the company's capital, liquidity and financial flexibility.
Essent Group topped Q2 earnings among 32 property and casualty insurance stocks tracked, reporting revenues of $362.7 million, up 13.6% year on year and beating analyst expectations by 9.7%. The company also exceeded EPS estimates. Cincinnati Financial posted revenues of $2.97 billion, up 6.9% year on year, but missed analyst expectations by 1.2%. The insurer also fell short on EPS and net premiums earned estimates. Its shares dropped 7.2% following the results and currently trade at $170.95. The sector reported satisfactory Q2 results overall, with revenues beating consensus estimates by 2.3%. Share prices across the group have held relatively steady since earnings announcements. Property and casualty insurers face headwinds from climate-related catastrophe losses and rising litigation costs.
Cincinnati Financial missed Wall Street expectations in its second quarter, with revenue of $2.97 billion falling short of the $3.00 billion estimate and adjusted earnings per share of $1.43 missing the $1.82 forecast by 21.3%. CEO Steve Spray attributed the results to modestly elevated catastrophe losses and pricing discipline. Operating margin improved to 53.1%, up from 30.8% in the prior year period. During the earnings call, analysts probed management on large commercial losses, commission structures amid market softening, and personal lines re-underwriting following catastrophe events. Management emphasised that loss volatility remained within expectations and that agent compensation structures would stay unchanged, focusing on profitability over aggressive expansion. The company is continuing its re-underwriting process, particularly in California after recent wildfires.