Cincinnati Financial Corp. says second-quarter net income morethan tripled on a record high for new business and lowercatastrophe losses.

The Cincinnati-based insurer of businesses, homes and autosreports second-quarter net income of $110 million, compared to $32million during the same period a year ago.

“Our earnings rose to the best level for any second quarter andany first half since 2007,” says CEO Steven J. Johnston, in astatement.

The company says it booked $139 million in P&C new businesspremiums in the second quarter—a record high for any quarter.Catastrophe losses were $46 million lower than they were during thesecond quarter 2012.

“While unfortunately not the case across the country, theweather this spring was milder, compared with last year's severestorms, for policyholders in our 39 states of operation,” addsJohnston.

Planned growth and higher rates resulted in a 9 percent increasein second-quarter net premiums written to $984 million.

Cincinnati Financial's combined ratio for the period improved13.1 points to 96.4. The progress was achieved with the help of a10.1-point benefit from $92 million in favorable reservedevelopment during the second quarter.

The insurer reversed a loss on underwriting, reporting a profitof $34 million compared to a loss of $77 million during 2012'ssecond quarter.

For the first six months of 2013, Cincinnati Financial says netincome was $264 million, up 124 percent from 2012.

The company says it added 63 new agency appointments as of June30, 2013.

Agency renewal written premiums are up 10 percent to $1.12billion after the first six months of 2013. Agency new businesswritten premiums are up 19 percent to $197 million during the sametime, says Cincinnati Financial.