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 *
LINDNER CARL H
   2. Issuer Name and Ticker or Trading Symbol
AMERICAN FINANCIAL GROUP INC [AFG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Chairman of the Board
(Last)
(First)
(Middle)
ONE EAST FOURTH STREET		 3. Date of Earliest Transaction (Month/Day/Year)
08/14/2008
(Street)

CINCINNATI, OH 45202		 4. If Amendment, Date Original Filed(Month/Day/Year)
08/18/2008		 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 04/25/2008   P V 10,269.75 (1) A $ 26.485 138,392 (2) I #3 (3)
Common Stock 07/25/2008   P V 9,560.386 (1) A $ 28.59 147,952 I #3 (3)
Common Stock 04/25/2008   P V 20.917 (1) A $ 26.485 4,275 I #4 (4) (5)
Common Stock 07/25/2008   P V 19.472 (1) A $ 28.59 4,294 I #4 (5)
Common Stock               3,000,000 (2) (6) I #5 (7)
Common Stock               5,000,000 I #6 (6) (8)
Common Stock               0 (6) (9) (10) I #8 (11)

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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

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LINDNER CARL H
ONE EAST FOURTH STREET
CINCINNATI, OH 45202		   X   X   Chairman of the Board

Signatures

 Carl H. Lindner By: Karl J. Grafe as Attorney-in-Fact   08/19/2008
**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) This is a distribution from the Company DRIP Plan.
(2) On July 25, 2008, Indirect #1 transferred 2,970,000 shares of the Company Stock to Indirect #5.
(3) Indirect #3 EBL TTEE of the Edyth B. Lindner Family Trust Dated 4/13/04.
(4) Indirect #1 By Carl H. Lindner J., et al, TTEE for the CHL Amended and restated Family Trust dated 12/23/83.
(5) Indirect #4: By Carl H. Lindner, Jr., et al, Trustee of the CHL Amended and Restated FamilyTrust dated 1/22/82.
(6) On April 29, 2008, Indirect #8 transferred 53,775 shares of common stock to Indirect #2 and on July 21, 2008, Indirect #2 transferred 3,039,207 shares of common stock to Indirect #6. On July 25, Indirect #1 transferred 30,000 shares of common stock to Indirect #5. Also on July 21, 2008, Indirect #3 transferred 1,960,793 shares of common stock to Indirect #6.
(7) Indirect #5: C&E Investments LLC, a limited liability company in which the members are the reporting person's spouse (1%) and a charitable lead annuity trust (99%). The reporting person disclaims beneficial interest in any shres to the extent he has no pecuniary interest.
(8) Indirect #6: EBL 2008-1 Qualified Annuity Trust dtd 7/21/08
(9) On April 4, 2008, Indirect #8 transferred 240,604 shares of Common Stock to Indirect #2.
(10) On July 21, 2008, Indirect #8 transferred 1,890,882 to family members of the Reporting Person.
(11) Indirect #8: By Joseph A. Pedoto TTEE of the Edyth B. Lindner 2005-1 Quality Annuity trusted dated 4/26/2005.

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