FORM 5

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

1.   Title of Security      (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)

If the form is filed by more than one person, see Instruction 4(b)(v).

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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

Explanation of Responses

(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. 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	Page 2