- Statement of Changes in Beneficial Ownership (4)

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	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	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. Date of Earliest Transaction (MM/DD/YYYY) 10/31/2008
(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	Code	V	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	10/31/2008		S		1000	D	$22.71	4493344	I	#1 ⁽¹⁾
Common Stock	10/31/2008		S		1900	D	$22.75	4491444	I	#1 ⁽¹⁾
Common Stock	10/31/2008		S		100	D	$22.77	4491344	I	#1 ⁽¹⁾
Common Stock	10/31/2008		S		200	D	$22.78	4491144	I	#1 ⁽¹⁾
Common Stock								108449	I	#3 ⁽²⁾
Common Stock								27685	I	#5 ⁽³⁾
Common Stock								27685	I	#6 ⁽⁴⁾
Common Stock								0	I	#8 ⁽⁵⁾
Common Stock								1020043	I	#9 ⁽⁶⁾
Common Stock								1485000	I	#10 ⁽⁷⁾
Common Stock								35706	I	#12 ⁽⁸⁾
Common Stock	5/1/2008		G	V	341568	D	$0.00	0	I	#13 ⁽⁹⁾
Common Stock								63604	I	#14 ⁽¹⁰⁾
Common Stock								63604	I	#15 ⁽¹¹⁾
Common Stock								63604	I	#16 ⁽¹²⁾
Common Stock								27685	I	#17 ⁽¹³⁾
Common Stock								36330	I	#18 ⁽¹⁴⁾
Common Stock								36330	I	#19 ⁽¹⁵⁾
Common Stock								36330	I	#20 ⁽¹⁶⁾
Common Stock								341568	I	#21 ⁽¹⁷⁾
Common Stock								341568	I	#22 ⁽¹⁸⁾
Common Stock								341568	I	#23 ⁽¹⁹⁾

*Table II - Derivative Securities 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		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 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)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(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)	Indirect #1: SCL TTEE of the SCL Living Trust DTD 03/30/83.
( 2)	Indirect #3: By Frances R. Lindner, Trustee for the Frances R. Lindner living Trust dated 9/13/93.
( 3)	Indirect #5: CEL, TTEE CEL 2002 Living Trust dtd 11/4/02.
( 4)	Indirect #6: FRL, Cust. CFL Under OH Tsfr to Min Act.
( 5)	Indirect #8: KEL TTEE Under Irr. Trust Agr. with Frances R. Lindner Grantor DTD 2/13/85.
( 6)	Indirect #9: KEL, TTEE Under an Irrev. Trust Ind. with SCL DTD 12/22/83.
( 7)	Indirect #10: SCL Investments, LLC
( 8)	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 12/31/07.
( 9)	Indirect #13: SCL, TTEE of the SCL 2005-1 Qualified Annuity Trust DTD 4/21/05.
( 10)	Indirect #14: M. Nyhart TTEE CEL Under Trust Agreement dtd 3/8/96.
( 11)	Indirect #15: M. Nyhart TTEE CAL Under Trust Agreement dtd 3/8/96.
( 12)	Indirect #16: M. Nyhart TTEE CFL Under Trust Agreement dtd 3/8/96.
( 13)	Indirect #17: CAL, daughter of the Reporting Person.
( 14)	Indirect #18: KEL TTEE CEL C/U Irrev Trust DTD 2/13/85.
( 15)	Indirect #19: KEL TTEE CAL C/U Irrev Trust DTD 2/13/85.
( 16)	Indirect #20: KEL, TTEE CFL C/U Irrev Trust DTD 2/13/85.
( 17)	Indirect #21: CL TR U/A 4/21/05 FRL TTEE
( 18)	Indirect #22: CAL TR U/A DTD 4/21/05 FRL TTEE
( 19)	Indirect #23: CFL TR U/A DTD 4/21/05 FRL TTEE

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		10/31/2008
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	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).
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