American Financial Group Inc - Annual Statement of Changes in Beneficial Ownership (5)

FORM 5

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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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(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* LINDNER S CRAIG	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 _____ 10% Owner __ X __ Officer (give title below) _____ Other (specify below) Co-CEO & Co-President
(Last) (First) (Middle) ONE EAST FOURTH STREET	3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY) 12/31/2007
(Street) CINCINNATI, OH 45202 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form Filed by One Reporting Person ___ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock							0 ⁽¹⁾	D
Common Stock	4/24/2007		G	681	D	$0.00	3666498 ⁽¹⁾	I	#1 ⁽²⁾
Common Stock	5/7/2007		G	75000	D	$0.00	3591498	I	#1 ⁽²⁾
Common Stock	5/30/2007		G	3200	D	$0.00	3588298	I	#1 ⁽²⁾
Common Stock	9/6/2007		G	1525	D	$0.00	3723975 ⁽³⁾ ⁽⁴⁾	I	#1 ⁽²⁾
Common Stock	11/29/2007		G	3450	D	$0.00	3884599 ⁽³⁾	I	#1 ⁽²⁾
Common Stock	12/14/2007		G	2620	D	$0.00	3881979	I	#1 ⁽²⁾
Common Stock	12/21/2007		G	23120	D	$0.00	3858859	I	#1 ⁽²⁾
Common Stock							77594	I	#3 ⁽⁵⁾
Common Stock							25898 ⁽¹⁾	I	#5 ⁽⁶⁾
Common Stock							25898 ⁽¹⁾	I	#6 ⁽⁷⁾
Common Stock							0 ⁽⁸⁾	I	#7 ⁽⁹⁾
Common Stock							145321	I	#8 ⁽¹⁰⁾
Common Stock							1020043	I	#9 ⁽¹¹⁾
Common Stock							1485000	I	#10 ⁽¹²⁾
Common Stock							35706	I	#12 ⁽¹³⁾
Common Stock							1743000 ⁽¹⁾ ⁽³⁾ ⁽⁴⁾	I	#13 ⁽¹⁴⁾
Common Stock							63604	I	#14 ⁽¹⁵⁾
Common Stock							63604	I	#15 ⁽¹⁶⁾
Common Stock							63604	I	#16 ⁽¹⁷⁾
Common Stock							25898 ⁽¹⁾ ⁽⁸⁾	I	#17 ⁽¹⁸⁾

*Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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 (MM/DD/YYYY)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:
( 1)	On 3/19/2007, the Reporting Person transferred 57,297 shares of common stock to Indirect #1. On 3/30/2007, Indirect #13 transferred 137,133 shares of common stock to Indirect #1. On 4/24/2007, Indirect #1 transferred 681 shares of common stock each to Indirect #5, #6, #17, and 681 shares to an emancipated son.
( 2)	Indirect #1: SCL TTEE of the SCL Living Trust DTD 30/30/83
( 3)	On 7/3/2007, Indirect #13 transferred 137,202 shares of common stock to Indirect #1.
( 4)	On 10/3/2007, Indirect #13 transferred 164,074 shares of common stock to Indirect #1.
( 5)	Indirect #3: By Frances R. Lindner, Trustee for the Frances R. Lindner living Trust dated 9/13/93.
( 6)	Indirect #5: Corinne E. Lindner, TTEE CEL 2002 Living Trust dtd 11/4/02.
( 7)	Indirect #6: FRL, Cust. Christine Frances Lindner Under OH Tsfr to Min Act.
( 8)	On 12/13/2007 Indirect #7 transferred 24,559 shares of common stock to Indirect #17.
( 9)	Indirect #7: FRL Cust. Clara Ann Lindner Under OH Tsfr to Min. Act.
( 10)	Indirect #8: KEL TTEE Under Irr. Trust Agr. with Frances R. Lindner Grantor DTD 2/13/85.
( 11)	Indirect #9: KEL, TTEE Under an Irrev. Trust Ind. with SCL DTD 12/22/83.
( 12)	Indirect #10: SCL Investments, LLC
( 13)	Indirect #12: The Company's Retirement and Savings Plans. The number of shares of Common stock which would be represented by the value of the Reporting Person's Company Securities Funds account in the Issuer's Retirement and Savings Plan is based on a statement dated as of 12/31/2007.
( 14)	Indirect #13: SCL, TTEE of the SCL 2005-1 Qualified Annuity Trust DTD 4/21/05.
( 15)	Indirect #14: M. Myhart TTEE Corinne Under Trust Agreement dtd 3/8/96.
( 16)	Indirect #15: M. Myhart TTEE Clara Under Trust Agreement dtd 3/8/96.
( 17)	Indirect #16: M. Nyhart TTEE Christine Under Trust Agreement dtd 3/8/96.
( 18)	Indirect #17: CAL, daughter of the Reporting Person.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
LINDNER S CRAIG ONE EAST FOURTH STREET CINCINNATI, OH 45202	X		Co-CEO & Co-President

Signatures
S. Craig Lindner By: Karl J. Grafe, as Attorney-in-Fact		2/5/2008
^** Signature of Reporting Person		Date

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