FORM 5

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to section 16(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 *

2. Issuer Name and Ticker or Trading Symbol

6. Relationship of Reporting Person(s) to Issuer

Runk             Fred               J.

AMERICAN FINANCIAL GROUP, INC. (AFG)

          (Check all applicable)

__ __ Director            _ __ 10% Owner

   (Last)                      (First)                  (Middle)

3.   IRS or Social Security

4.   Statement for

__X__ Officer (give

____ Other (Specify

One East Fourth Street

  Number of Reporting
  Person (Voluntary)

  Month/Year

December 31, 2002

Title below

        Sr. Vice President & Treasurer

                                   (Street)

5.   If Amendment,
  Date of Original

7.   Individual or Joint/Group Reporting
     (Check Applicable Line)

Cincinnati              OH          45202

   (month/Year)

   _X_  Form filed by One Reporting Person
   ___  Form filed by More than One
         than Reporting Person

      (City)                  (State)                   (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned

     (Instr. 3)

2.   Trans-
  action Date
  (Month/
  Day/Year)

2.A. Deemed
  Execution
  Date, if any
  Month/Day/
  Year)

3. Trans-
  action
  Code
   (Instr.
  8)

4.   Securities Acquired (A)
  or Disposed of (D)
   (Instr. 3,4 and 5)

5.   Amount of
  Securities
  Beneficially
  Owned at
  the end of

6.  Owner-
  ship
  Form:
  Direct
   (D) or

7.  Nature
  of InDirect
  Bene ficial
  Owner-
  ship

Amount

(A) or
(D)

Price

  Issuer's Fiscal
  Year
  (Instr. 3 and 4)

  Indirect
   (I)
   (Instr. 4)

   (Instr. 4)

Common Stock

241,340

D

Common Stock

6,338.55

I

In ESPP Account (a)

Common Stock

1,356

I

In DRIP Plan (b)

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

1. Title of Derivative
  Security  (Instr. 3)

2. Conver-
 or Exercise
 Price of
 Derivative
 Security

3.  Trans-
 action
 Date
 if any

3A.
 Deemed
 Execution
 Date
 if any

4.
 Trans-
 action
 Code

5.Number of Deriv-
ative Securities
Acquired (A) or
Disposed of (D)

6.   Date Exer-
cisable and
Expiration
Date
(Month/Day/Year)

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

8. Price
of
Deriv-
ative

9.   Number
  of deriv-
  ative
  Securities
  Bene-

10.   Owner-
  ship
  Form
  of
  Deriva-

11. Nature
  of In-
  direct
  Bene-
  ficial

 (Month/
 Day/
 Year)

 (Month/
 Day/
 Year)

 (Instr.
8)

(Instr. 3, 4 and 5)

Amount
or

Secur
- -ity

  ficially
  Owned
  at End

  tive
  Security
  Direct or

  Owner-
  ship

(A)

(D)

Date
Exer-
cisable

Expir-
ation
Date

Title

Number of
Shares

(Instr.
  5)

  of
  Month
   (Instr. 4)

  Indirect
   (I)
   (Instr 4)

   (Instr.
  4)

Deferred Compensa-tion(c)

5/17/02

A

2,799.986

(c)

(c)

Common Stock

2,799.986

$23.753

12,923.425

(a)   Shares allocated to the Reporting Person's account under the Issuer's Employee Stock Purchase Plan (the "ESPP") in 2002 at prices ranging from $18.61 to $24.75 per share. All ESPP information reported herein is based on a plan statement dated as of December 31, 2002.

(b)   These shares were purchased in 2002 at a weighted average of $24.563 per share in the Issuer's Dividend Reinvestment Plan (the "DRIP"). All DRIP information reported herein is based on a plan statement dated as of December 31, 2002.

(c)   Represents a bonus deferred by the Reporting Person in the Issuer's Deferred Compensation Plan. The account value increases or decreases based on the value of the Issuer's common stock. Upon termination of employment, the Reporting Person's account balance may be distributed, at the option of the Issuer, either in cash or in shares of the Issuer's common stock.

* 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.

____Fred J. Runk______________________              February 6, 2003

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

** Signature of Reporting Person                                Date
   Fred J. Runk

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

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