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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001042046-03-000113.txt : 20030513
<SEC-HEADER>0001042046-03-000113.hdr.sgml : 20030513
<ACCEPTANCE-DATETIME>20030513142707
ACCESSION NUMBER:		0001042046-03-000113
CONFORMED SUBMISSION TYPE:	13F-NT
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030331
FILED AS OF DATE:		20030513
EFFECTIVENESS DATE:		20030513

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN FINANCIAL CORP
		CENTRAL INDEX KEY:			0000005016
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				310624874
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-NT
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-00497
		FILM NUMBER:		03695129

	BUSINESS ADDRESS:	
		STREET 1:		ONE E 4TH ST
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5135792121
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-NT
<SEQUENCE>1
<FILENAME>afc13f.txt
<TEXT>

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

                                    FORM 13F

                              FORM 13F COVER PAGE


                  Report for the Quarter Ended March 31, 2003


                         AMERICAN FINANCIAL CORPORATION
                 One East Fourth Street, Cincinnati, Ohio 45202
     -------------------------------------------------------------------------
     (Name and Address of Institutional Investment Manager Filing this Report)


                          Form 13F File Number:  28-497


The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.

                                 Fred J. Runk
                     Senior Vice President and Treasurer
                                (513) 579-2489
                -----------------------------------------------
                (Name, Title and Phone Number of Person Signing
                 this Report on Behalf of Reporting Manager)


Signature:

Fred J. Runk                            Cincinnati, Ohio     May 13, 2003
- -----------------------------------
Fred J. Runk
Senior Vice President and Treasurer


Report Type:
     [ ]  13F HOLDINGS REPORT.
     [X]  13F NOTICE.
     [ ]  13F COMBINATION REPORT.

Other Manager Reporting for this Manager:
    (28-4389) American Financial Group, Inc.


                                 Page 1 of 1

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