UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2006 Check here if Amendment [ ]; Amendment Number: __________ This Amendment (Check only one.): [ ] is a restatement [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Cincinnati Insurance Company Address: 6200 South Gilmore Road Fairfield, Ohio 45014 13F File Number: 028-10753 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing the Report on Behalf of Reporting Manager: Name: Kenneth S. Miller Title: Sr. Vice President Phone: (513) 870-2633 Signature, Place and Date of Signing: /s/ Kenneth S. Miller Fairfield, Ohio May 8, 2006 - ------------------------- Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of other Managers Reporting for this Manager: N/A 1

FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers 1 Form 13F Information Table Entry Total: 38 Form 13F Information Table Value Total: 3,925,653 List of Other Included Managers: 01 Cincinnati Financial Corporation 13F File No. 028-10798 2

COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 ISSUER TITLE OF CLASS CUSIP FMV (000) SHARES SH/PRN PUT/CALL ------ -------------- --------- --------- ---------- ------ -------- ALLIANCEBERNSTEIN COMMON 01881G106 135,720 2,048,600 SH BB & T CORP COMMON 054937107 7,401 188,800 SH CAMDEN PROPERTY TRUST COMMON 133131102 7,205 100,000 SH CHEVRON CORPORATION COMMON 166764100 41,507 716,000 SH CINERGY CORP COMMON 172474108 47,908 1,055,000 SH COMMERCIAL NET LEASE REALTY COMMON 202218103 6,175 265,000 SH CONOCOPHILLIPS COMMON 20825C104 22,103 350,000 SH DEVELOPERS DIVERSIFIED REALTY COMMON 251591103 2,738 50,000 SH EQUITABLE RESOURCES INC COMMON 294549100 21,906 600,000 SH EXXON MOBIL CORPORATION COMMON 30231G102 384,635 6,320,000 SH FIFTH THIRD BANCORP COMMON 316773100 1,697,847 43,136,352 SH FIRST FINANCIAL BANCORP COMMON 320209109 1,507 90,586 SH FORTUNE BRANDS INC COMMON 349631101 24,592 305,000 SH GENERAL ELECTRIC CO. COMMON 369604103 42,606 1,225,000 SH GENUINE PARTS CO COMMON 372460105 32,522 742,000 SH GLIMCHER REALTY TRUST COMMON 379302102 2,840 100,000 SH HUNTINGTON BANCSHARES INC COMMON 446150104 1,539 63,800 SH JEFFERSON PILOT CORP COMMON 475070108 6,993 125,000 SH JOHNSON & JOHNSON COMMON 478160104 126,737 2,140,100 SH LINCOLN NATIONAL CORP COMMON 534187109 11,660 213,600 SH MEDTRONIC INC COMMON 585055106 28,433 560,250 SH NATIONAL CITY CORPORATION COMMON 635405103 245,173 7,025,000 SH NEW PLAN EXCEL RLTY TRUST INC COMMON 648053106 11,286 435,095 SH PARTNERRE LTD COMMON G6852T105 2,160 34,784 SH PEPSICO INC COMMON 713448108 28,895 500,000 SH PFIZER INC COMMON 717081103 23,176 930,000 SH PIEDMONT NATURAL GAS COMMON 720186105 71,634 2,986,000 SH PNC FINANCIAL SERVICES GROUP COMMON 693475105 121,831 1,810,000 SH PROCTER & GAMBLE CORPORATION COMMON 742718109 320,135 5,555,000 SH SIMON PROPERTY GROUP INC COMMON 828806109 16,828 200,000 SH SKY FINANCIAL GROUP INC COMMON 83080P103 24,514 925,050 SH STATE STREET CORP COMMON 857477103 5,001 82,756 SH SYSCO CORP COMMON 871829107 224 7,000 SH TANGER FCTRY OUTLET COMMON 875465106 13,984 406,400 SH U S BANCORP COMMON 902973304 96,506 3,164,120 SH WACHOVIA CORP. COMMON 929903102 26,080 465,300 SH WELLS FARGO & CO COMMON 949746101 104,268 1,632,500 SH WYETH COMMON 983024100 159,388 3,285,000 SH 3,925,653 89,839,093 3

COLUMN 6 COLUMN 7 COLUMN 8 ISSUER INVESTMENT DIS OTH MGRS SOLE SHARED NONE ------ -------------- -------- -------- ---------- ---- ALLIANCEBERNSTEIN SHARED 01 -- 2,048,600 -- BB & T CORP SHARED 01 -- 188,800 -- CAMDEN PROPERTY TRUST SHARED 01 -- 100,000 -- CHEVRON CORPORATION SHARED 01 -- 716,000 -- CINERGY CORP SHARED 01 -- 1,055,000 -- COMMERCIAL NET LEASE REALTY SHARED 01 -- 265,000 -- CONOCOPHILLIPS SHARED 01 -- 350,000 -- DEVELOPERS DIVERSIFIED REALTY SHARED 01 -- 50,000 -- EQUITABLE RESOURCES INC SHARED 01 -- 600,000 -- EXXON MOBIL CORPORATION SHARED 01 -- 6,320,000 -- FIFTH THIRD BANCORP SHARED 01 -- 43,136,352 -- FIRST FINANCIAL BANCORP SHARED 01 -- 90,586 -- FORTUNE BRANDS INC SHARED 01 -- 305,000 -- GENERAL ELECTRIC CO. SHARED 01 -- 1,225,000 -- GENUINE PARTS CO SHARED 01 -- 742,000 -- GLIMCHER REALTY TRUST SHARED 01 -- 100,000 -- HUNTINGTON BANCSHARES INC SHARED 01 -- 63,800 -- JEFFERSON PILOT CORP SHARED 01 -- 125,000 -- JOHNSON & JOHNSON SHARED 01 -- 2,140,100 -- LINCOLN NATIONAL CORP SHARED 01 -- 213,600 -- MEDTRONIC INC SHARED 01 -- 560,250 -- NATIONAL CITY CORPORATION SHARED 01 -- 7,025,000 -- NEW PLAN EXCEL RLTY TRUST INC SHARED 01 -- 435,095 -- PARTNERRE LTD SHARED 01 -- 34,784 -- PEPSICO INC SHARED 01 -- 500,000 -- PFIZER INC SHARED 01 -- 930,000 -- PIEDMONT NATURAL GAS SHARED 01 -- 2,986,000 -- PNC FINANCIAL SERVICES GROUP SHARED 01 -- 1,810,000 -- PROCTER & GAMBLE CORPORATION SHARED 01 -- 5,555,000 -- SIMON PROPERTY GROUP INC SHARED 01 -- 200,000 -- SKY FINANCIAL GROUP INC SHARED 01 -- 925,050 -- STATE STREET CORP SHARED 01 -- 82,756 -- SYSCO CORP SHARED 01 -- 7,000 -- TANGER FCTRY OUTLET SHARED 01 -- 406,400 -- U S BANCORP SHARED 01 -- 3,164,120 -- WACHOVIA CORP. SHARED 01 -- 465,300 -- WELLS FARGO & CO SHARED 01 -- 1,632,500 -- WYETH SHARED 01 -- 3,285,000 -- 89,839,093 4

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