NU Online News Service, Oct. 22, 2004, 11:10 a.m. EDT
Cincinnati Life Insurance Company reports a decline in net income of 35% in the 3rd quarter.[@@]
The company had net income of $5 million for the quarter, down from $8 million for the comparable 2003 period.
Cincinnati Life president David H. Popplewell attributed the drop to losses in the company’s investment portfolio due to its sale of airline bonds and a decline in the fair value of derivatives embedded in convertible securities.