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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Gl59iiOVzU88gNQKRilkOe3PKKxSbkUHm12Z0qGcEorUxIddTJXFktldbrF15q8I
 mDQUmFgWCDZZE8cBNMhlWA==

<SEC-DOCUMENT>0001209191-04-002088.txt : 20040108
<SEC-HEADER>0001209191-04-002088.hdr.sgml : 20040108
<ACCEPTANCE-DATETIME>20040108114246
ACCESSION NUMBER:		0001209191-04-002088
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040107
FILED AS OF DATE:		20040108

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN FINANCIAL GROUP INC
		CENTRAL INDEX KEY:			0001042046
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				311544320
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE EAST FOURTH STREET
		STREET 2:		SUITE 919
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5135792121

	MAIL ADDRESS:	
		STREET 1:		ONE EAST FOURTH STREET
		STREET 2:		SUITE 919
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FINANCIAL GROUP HOLDINGS INC
		DATE OF NAME CHANGE:	19970709

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SHUTZER WILLIAM A
		CENTRAL INDEX KEY:			0001016750

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13653
		FILM NUMBER:		04514772

	BUSINESS ADDRESS:	
		STREET 1:		C/O TIFFANY & CO LEGAL DEPARTMENT
		STREET 2:		727 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2127558000

	MAIL ADDRESS:	
		STREET 1:		C/O TIFFANY & CO LEGAL DEPT
		STREET 2:		727 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2004-01-07</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0001042046</issuerCik><issuerName>AMERICAN FINANCIAL GROUP INC</issuerName>        <issuerTradingSymbol>AFG</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001016750</rptOwnerCik><rptOwnerName>SHUTZER WILLIAM A</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>ONE EAST FOURTH STREET</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>CINCINNATI</rptOwnerCity><rptOwnerState>OH</rptOwnerState><rptOwnerZipCode>45202</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransac
tion><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2004-01-07</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>309.0000</value></transactionShares><transactionPricePerShare><value>25.9350</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>767.0000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><footnotes></footnotes><remarks></remarks><ownerSignature><signatureName>Karl J.
 Grafe, as Attorney-in-Fact for William A. Shutzer</signatureName><signatureDate>2004-01-08</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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