UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 19, 2005

AMERICAN FINANCIAL GROUP, INC.

(Exact name of registrant as specified in its charter)

Ohio	1-13653	31-1544320
_________________________________________________________________________________________________
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

One East Fourth Street, Cincinnati, OH	45202
____________________________________________________________	______________________________
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code 513-579-2121

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

/   /   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

/   /   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

/   /   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
        (17 CFR  240.14d-2(b))

/   /   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
        (17 CFR  240.13e-4(c))

Item 7.01 - Regulation FD Disclosure.

         American Financial Group, Inc. ("AFG") announced that its 82% owned subsidiary, Great American Financial Resources, Inc. has reached an agreement to sell Great American Life Assurance Company of Puerto Rico. AFG also announced an increase in its earnings guidance. See attached Press Release.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

1. Financial statements of business acquired.  Not applicable.
2. Pro forma financial information.  Not applicable.
3. Exhibits

Exhibit No.	Description
99.1	Press release, dated December 19, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AMERICAN FINANCIAL GROUP, INC.
Date:   December 21, 2005
	By:     Karl J. Grafe
	Karl J. Grafe
	Vice President