Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
McCurdy Daniel T
  2. Issuer Name and Ticker or Trading Symbol
CINCINNATI FINANCIAL CORP [CINF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. Vice President (Ret.) - / Subsidiary
(Last)
(First)
(Middle)
6200 SOUTH GILMORE RD
3. Date of Earliest Transaction (Month/Day/Year)
05/03/2007
(Street)

FAIRFIELD, OH 45014-5141
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/03/2007 05/03/2007 M   5,333 A $ 26.95 51,456 D  
Common Stock 05/03/2007 05/03/2007 M   1,838 A $ 30.6 53,294 D  
Common Stock 05/03/2007 05/03/2007 M   464 A $ 30.72 53,758 D  
Common Stock 05/03/2007 05/03/2007 M   1,839 A $ 32.81 55,597 D  
Common Stock               444 I By IRA
Common Stock               21,878 I By Trust
Common Stock               444 I Spouse's IRA
Common Stock               22,984 I Spouse's Trust

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 26.95 05/03/2007 05/03/2007 M     5,333 01/25/2001(1) 01/25/2010 Common Stock 5,333 $ 0 11,205 D  
Employee Stock Option (right to buy) $ 30.6 05/03/2007 05/03/2007 M     1,838 01/27/2000(1) 01/27/2009 Common Stock 1,838 $ 0 3,675 D  
Employee Stock Option (right to buy) $ 30.72 05/03/2007 05/03/2007 M     464 08/24/1999(1) 08/24/2008 Common Stock 464 $ 0 2,844 D  
Employee Stock Option (right to buy) $ 32.81 05/03/2007 05/03/2007 M     1,839 01/31/2002(1) 01/31/2011 Common Stock 1,839 $ 0 3,674 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
McCurdy Daniel T
6200 SOUTH GILMORE RD
FAIRFIELD, OH 45014-5141
      Sr. Vice President (Ret.) - Subsidiary

Signatures

 Daniel T. McCurdy, Jr.   05/07/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The option vests in three equal annual installments beginning on the first anniversary of the date of grant.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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