UPDATE 1-Cincinnati Financial sees $106 mln Q2 catastrophe loss

* Sees Q2 catastrophe loss of $106 mln

* Says damage from 3 separate storms

* Shares fall 2 pct before the bell

July 13 (Reuters) - Property and casualty insurer Cincinnati Financial Corp (CINF.O) said it expects second-quarter earnings to be hurt by catastrophe losses of about $106 million.

"Most of the second-quarter 2009 losses were due to wind and hail damage from three separate storms with nearly $30 million each in losses," Chief Executive Kenneth Stecher said in a statement.

In the year-ago quarter, the insurer had posted a catastrophe loss of $113 million.

Catastrophe losses reduce property casualty insurance underwriting income along with income from investment operations and life insurance operations, the company said.

Shares of the company were trading down 44 cents at $21.10 in trading before the bell Monday. The stock closed at $21.54 Friday on Nasdaq. (Reporting by Supantha Mukherjee in Bangalore; Editing by Gopakumar Warrier)