FORM 3

U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to section 17(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utilities
Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1.    Name and Address of Reporting Person

American Financial Group, Inc.

February 12, 2003

4.   Issuer Name and Ticker or Trading Symbol

  INFINITY PROPERTY & CASUALTY CORPORATION (IPCC)

   (Last)              (First             (Middle)

5. Relationship of a Reporting Person(s) to Issuer

6. If Amendment, Date of Original
(Month/Day/Year)

One East Fourth Street

3.  IRS or Social Security
  Number of Reporting
  Person (Voluntary)

         Check all applicable)
______ Director        ___X___ 10% Owner

Cincinnati            Ohio            45202

31-1544320

______  Officer        ________ Other (Specify
        (Give Title Below)
        

7.   Individual or Joint/Group Filing
    (check applicable line)
_X__  Form filed by One Reporting Person
_____  Form filed by More than One Reporting

    (City)             (State)             (Zip)                                          Table 1 - Non-Derivative Securities Beneficially Owned

1.   Title of Security
    (Instr. 3)

2.   Amount of Securities
  Beneficially Owned
   (Instr. 4)

3.   Ownership
  Form: Direct
  (D) or Indirect
   (I) (Instr. 5)

4.   Nature of Indirect Beneficial Ownership
     (Instr. 5)

Common Stock

20,347,083

I

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FORM 3 (continued)

Table II - Derivative Securities Aquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

2.  Date Exercisable
 and Expiration
 Date
 Month/Day/Year

3.   Title and Amount of Securities
Underlying Derivative Security   (Instr. 4)

4. Conversion of
 Exercise Price
 of Derivative
 Security

5.  Ownership
 form of
 Derivative
 Security

6.  Nature of Indirect
 Beneficial Ownership
  (Instr. 5)

Date
Exer-

Expira-
tion date

Amount or
Number

 Direct (D) or
 Indirect (I)

cisable

Title

of Shares

  (Instr. 5)

AMERICAN FINANCIAL GROUP, INC.

* If the form is filed by more than one reporting person, see Instruction 5(b)(v)

** Intentional mistatements or omissions of facts constitute Federal Criminal Violations.

By:__Karl J. Grafe____________________              February 12, 2003

See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

** Signature of Reporting Person                                Date

   Karl J. Grafe, Assistant Secretary

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

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number 

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