CINCINNATI, April 13, 2012 /PRNewswire/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today estimated its first-quarter 2012 property casualty combined ratio will be in the range of 98 percent to 101 percent, with improved core underwriting results offsetting significant storm-related losses. Property casualty underwriting results affect consolidated net income, which also includes contributions from investment operations and life insurance operations. (Logo: http://photos.prnewswire.com/prnh/20110824/CL57087LOGO) The Cincinnati Insurance Companies' property casualty group expects the quarter's results to include pretax catastrophe losses of approximately $85 million to $95 million, with slightly more than half of that total from its personal lines insurance segment. The estimated impact of those losses on the first-quarter 2012 combined ratio would be approximately 10.5 to 11.5 percentage points, based on estimated property casualty earned premiums. That impact is higher than the company's historical 10-year average of 3.0 percentage points for the first quarter and 5.4 points on a full-year basis. Substantially all of the 2012 first-quarter catastrophe losses were from two storms causing significant damage in the Midwest and Southeast in late February and early March. Steven J. Johnston, president and chief executive officer, commented, "Before the effects of catastrophes, our combined ratio continued the favorable trend of fourth-quarter 2011, reflecting our improved pricing precision and successful initiatives to contain loss costs, as well as improving market conditions. Healthy new business and renewal price increases contributed to first-quarter net written premium growth of approximately 8 percent. "The capital strength and liquidity of Cincinnati Insurance continue to benefit our policyholders and independent agents, giving us exceptional ability to grow our business while absorbing storm losses and responding to all claims with high quality service. In the newer states we have entered to improve our geographical diversification, including Texas, we have experienced no significant 2012 catastrophes losses." Investment Portfolio Listing as of March 31, 2012 The company today posted a preliminary listing of its fixed-maturity and equity portfolio as of March 31, 2012, on its website at www.cinfin.com/investors. The consolidated portfolio listing with market values and amortized cost is available in PDF format and in a spreadsheet format with details of securities ownership by the parent and each subsidiary company. Johnston concluded, "While we typically provide this information when we announce our final quarterly earnings, we believe our announcement of portfolio details along with first‑quarter combined ratio estimate will be helpful to investors. We continue to invest in a manner that seeks to balance current income and the potential for long-term appreciation."