Cincinnati Financial beats even as cat losses cut profits

Cincinnati Financial's first-quarter profit beat Wall Street
estimates even as it dropped 34 percent after ballooning
catastrophe losses from widespread storms in the US South and West
punished underwriting results.
The insurer said operating profit slid to $0.59 a share while
analysts had forecast $0.51, the consensus of seven estimates
compiled by MarketWatch.com. Cincinnati Financial had previously
released an estimate of cat losses.
Cat losses added 9.2 points to the company's property and
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