Form 8-K CINCINNATI FINANCIAL For: Nov 21

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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Date of Report: �November 21, 2014 (Date of earliest event reported)
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CINCINNATI FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
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Ohio	0-4604		31-0746871
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)
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6200 S. Gilmore Road, Fairfield, Ohio			45014-5141
(Address of principal executive offices)			(Zip Code)
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Registrant’s telephone number, including area code: �(513) 870-2000
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N/A (Former name or former address, if changed since last report.)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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�	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
�	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
�	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
�	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

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Item 7.01 Regulation FD Disclosure

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On November 21, 2014, Cincinnati Financial Corporation issued the attached news release “Cincinnati Financial Corporation Declares Regular Quarterly Cash Dividend.” The news release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

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This report should not be deemed an admission as to the materiality of any information contained in the news release.

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The information furnished in Item 7.01 of this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

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Item 9.01 Financial Statements and Exhibits

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(c) Exhibits

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Exhibit 99.1– News release dated November 21, 2014, titled “Cincinnati Financial Corporation Declares Regular Quarterly Cash Dividend”

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Signature

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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�	CINCINNATI FINANCIAL CORPORATION
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Date: �November 21, 2014	/S/ Michael J. Sewell
�	Michael J. Sewell, CPA
�	Chief Financial Officer, Senior Vice President and Treasurer
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The Cincinnati Insurance Company � The Cincinnati Indemnity Company The Cincinnati Casualty Company � The Cincinnati Specialty Underwriters Insurance Company The Cincinnati Life Insurance Company � CFC Investment Company � CSU Producer Resources Inc.

Investor Contact: Dennis E. McDaniel, 513-870-2768

[email protected]

Media Contact: Betsy E. Ertel, 513-603-5323

[email protected]

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Cincinnati Financial Corporation Declares Regular Quarterly Cash Dividend

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Cincinnati, November 21, 2014 – Cincinnati Financial Corporation (Nasdaq: CINF) announced that, at today’s regular meeting, the board of directors declared a 44-cents-per-share regular quarterly cash dividend. The dividend is payable January�15,�2015, to shareholders of record as of December 17, 2014.

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Steven J. Johnston, president and chief executive officer, commented, “The dividend just declared matches the one paid in October, which marked the 54^th consecutive year that our annual cash dividend increased. The company’s superior capital strength supports regular dividends, our preferred means of returning capital to shareholders. Maintaining the dividend reflects confidence by management and the board in the profitable growth of our insurance business, bolstering our commitment to increase shareholder value over time.”

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About Cincinnati Financial

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, fixed annuities and surplus lines property and casualty insurance. For�additional information about the company, please visit www.cinfin.com.

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Mailing Address:	Street Address:
P.O. Box 145496	6200 South Gilmore Road
Cincinnati, Ohio 45250-5496	Fairfield, Ohio 45014-5141

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Safe Harbor Statement

This is our “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995. Our business is subject to certain risks and uncertainties that may cause actual results to differ materially from those suggested by the forward-looking statements in this report. Some of those risks and uncertainties are discussed in our 2013 Annual Report on Form 10-K, Item 1A, Risk Factors, Page�31.

Factors that could cause or contribute to such differences include, but are not limited to:

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Unusually high levels of catastrophe losses due to risk�concentrations, changes in weather patterns, environmental events, terrorism incidents or other�causes

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Increased frequency and/or severity of claims or development of claims that are unforeseen at the time of policy issuance

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Inadequate estimates or assumptions used for critical accounting estimates

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Declines in overall stock market values negatively affecting the company’s equity portfolio and book�value

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Domestic and global events resulting in capital market or credit market uncertainty, followed by prolonged periods of economic instability or recession, that lead�to:

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Significant or prolonged decline in the value of a particular security or group of securities and impairment of the asset(s)

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Significant decline in investment income due to reduced or eliminated dividend payouts from a particular security or group of securities

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Significant rise in losses from surety and director and officer policies written for financial�institutions or other insured entities

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Prolonged low interest rate environment or other factors that limit the company’s ability to generate growth in investment income or interest rate fluctuations that result in declining values of fixed-maturity investments, including declines in accounts in which we hold bank-owned life insurance contract�assets

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Recession or other economic conditions resulting in lower demand for insurance products or increased payment�delinquencies

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Difficulties with technology or data security breaches, including cyberattacks, that could negatively affect our ability to conduct business�and our relationships with agents, policyholders and others

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Disruption of the insurance market caused by technology innovations such as driverless cars that could decrease consumer demand for insurance products

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Delays or performance inadequacies from ongoing development and implementation of underwriting and pricing�methods, including telematics and other usage-based insurance methods, or technology projects and enhancements expected to increase our pricing accuracy, underwriting profit and competitiveness

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Increased competition that could result in a significant reduction in the company’s premium volume

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Changing consumer insurance-buying habits and consolidation of independent insurance agencies that could alter our competitive advantages

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Inability to obtain adequate reinsurance on acceptable terms, amount of reinsurance purchased, financial strength of reinsurers and the potential for nonpayment or delay in payment by reinsurers

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Inability to defer policy acquisition costs for any business segment if pricing and loss trends would lead management to�conclude that segment could not achieve sustainable�profitability

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Inability of our subsidiaries to pay dividends consistent with current or past levels

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Events or conditions that could weaken or harm the company’s relationships with its independent agencies and hamper opportunities to add new agencies, resulting in limitations on the company’s opportunities for growth, such�as:

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Downgrades of the company’s financial strength�ratings

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Concerns that doing business with the company is too�difficult

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Perceptions that the company’s level of service, particularly claims service, is no longer a distinguishing characteristic in the marketplace

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Inability or unwillingness to nimbly develop and introduce coverage product updates and innovations that our competitors offer and consumers expect to find in the�marketplace

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Actions of insurance departments, state attorneys general or other regulatory agencies, including a change to a federal system of regulation from a state-based system, that:

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Impose new obligations on us that increase our expenses or change the assumptions underlying our critical accounting estimates

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Place the insurance industry under greater regulatory scrutiny or result in new statutes, rules and�regulations

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Restrict our ability to exit or reduce writings of unprofitable coverages or lines of business

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Add assessments for guaranty funds, other insurance related assessments or mandatory reinsurance arrangements; or that impair our ability to recover such assessments through future surcharges or other rate�changes

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Increase our provision for federal income taxes due to changes in tax law

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Increase our other expenses

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Limit our ability to set fair, adequate and reasonable�rates

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Place us at a disadvantage in the marketplace

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Restrict our ability to execute our business model, including the way we compensate agents

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Adverse outcomes from litigation or administrative�proceedings

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Events or actions, including unauthorized intentional circumvention of controls, that reduce the company’s future ability to maintain effective internal control over financial reporting under the Sarbanes-Oxley Act of�2002

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Unforeseen departure of certain executive officers or other key employees due to retirement, health or other�causes that could interrupt progress toward important strategic goals or diminish the effectiveness of certain longstanding relationships with insurance agents and others

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Events, such as an epidemic, natural catastrophe or terrorism, that could hamper our ability to assemble our workforce at our headquarters location

Further, the company’s insurance businesses are subject to the effects of changing social, global, economic and regulatory environments. Public and regulatory initiatives have included efforts to adversely influence and restrict premium rates, restrict the ability to cancel policies, impose underwriting standards and expand overall regulation. The company also is subject to public and regulatory initiatives that can affect the market value for its common stock, such as measures affecting corporate financial reporting and governance. The�ultimate changes and eventual effects, if any, of these initiatives are uncertain.

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