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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract_34F7A048D0B02479487DA933D084AB8E_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract_34F7A048D0B02479487DA933D084AB8E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">The scheduled maturities of available for sale fixed maturities</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract_34F7A048D0B02479487DA933D084AB8E_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract_34F7A048D0B02479487DA933D084AB8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract_34F7A048D0B02479487DA933D084AB8E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract_34F7A048D0B02479487DA933D084AB8E" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAbstract_34F7A048D0B02479487DA933D084AB8E" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_B14ABD43F9A7567FC284A933D084EB6B_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_B14ABD43F9A7567FC284A933D084EB6B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortized Cost Basis, Fiscal Year Maturity [Abstract]</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_B14ABD43F9A7567FC284A933D084EB6B_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_B14ABD43F9A7567FC284A933D084EB6B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_B14ABD43F9A7567FC284A933D084EB6B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_B14ABD43F9A7567FC284A933D084EB6B" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_B14ABD43F9A7567FC284A933D084EB6B" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_02370736D60B591634F8A933D085F769_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_02370736D60B591634F8A933D085F769" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">One year or less</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_02370736D60B591634F8A933D085F769_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_02370736D60B591634F8A933D085F769" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_02370736D60B591634F8A933D085F769" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_02370736D60B591634F8A933D085F769" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_02370736D60B591634F8A933D085F769" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_EAC9F63906F8B9C20FD8A933D085BBEC_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_EAC9F63906F8B9C20FD8A933D085BBEC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After one year through five years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_EAC9F63906F8B9C20FD8A933D085BBEC_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_EAC9F63906F8B9C20FD8A933D085BBEC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_EAC9F63906F8B9C20FD8A933D085BBEC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_EAC9F63906F8B9C20FD8A933D085BBEC" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_EAC9F63906F8B9C20FD8A933D085BBEC" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_EE8BAD157C6286E3C3B3A933D0855B49_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_EE8BAD157C6286E3C3B3A933D0855B49" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After five years through ten years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_EE8BAD157C6286E3C3B3A933D0855B49_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_EE8BAD157C6286E3C3B3A933D0855B49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_EE8BAD157C6286E3C3B3A933D0855B49" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_EE8BAD157C6286E3C3B3A933D0855B49" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_EE8BAD157C6286E3C3B3A933D0855B49" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_F0253DBAA0C9288B534CA933D085DEAE_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_F0253DBAA0C9288B534CA933D085DEAE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After ten years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_F0253DBAA0C9288B534CA933D085DEAE_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_F0253DBAA0C9288B534CA933D085DEAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_F0253DBAA0C9288B534CA933D085DEAE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_F0253DBAA0C9288B534CA933D085DEAE" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_F0253DBAA0C9288B534CA933D085DEAE" xlink:type="arc" />
    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E_totalLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Fixed maturities amortized cost, Subtotal</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities Excluding ABS and MBS, Amortized Cost</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Available for sale securities debt maturities excluding ABS and MBS amortized cost.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost" xlink:label="loc_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E" xlink:to="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_2D401272A0CA2AA817BDA933D085DE1E" xlink:type="arc" />
    <link:label id="lab_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45_verboseLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">ABS (average life of approximately 5 years)</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available for Sale Securities ABS Amortized Cost</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-backed securities, amortized cost.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_AvailableForSaleSecuritiesAbsAmortizedCost" xlink:label="loc_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45" xlink:to="lab_afg_AvailableForSaleSecuritiesAbsAmortizedCost_BB5B53D62E221F43804FA933D0859F45" xlink:type="arc" />
    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED_verboseLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">MBS (average life of approximately 4-1/2 years)</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available for Sale Securities MBS Amortized Cost</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage-backed securities, amortized cost.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_AvailableForSaleSecuritiesMbsAmortizedCost" xlink:label="loc_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED" xlink:to="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_F893AF348D549E4DCBCAA933D0850DED" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_DF2B97CF6E86B881B3CEA933D08538EF_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_DF2B97CF6E86B881B3CEA933D08538EF" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Amortized Cost</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_DF2B97CF6E86B881B3CEA933D08538EF_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_DF2B97CF6E86B881B3CEA933D08538EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Amortized Cost Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAmortizedCost_DF2B97CF6E86B881B3CEA933D08538EF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesAmortizedCost_DF2B97CF6E86B881B3CEA933D08538EF" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_DF2B97CF6E86B881B3CEA933D08538EF" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_64F484502721A780BAACA933D085DAB4_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_64F484502721A780BAACA933D085DAB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Fiscal Year Maturity [Abstract]</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_64F484502721A780BAACA933D085DAB4_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_64F484502721A780BAACA933D085DAB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_64F484502721A780BAACA933D085DAB4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_64F484502721A780BAACA933D085DAB4" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_64F484502721A780BAACA933D085DAB4" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_5FA4F7B64773F529E5CFA933D085D1FA_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_5FA4F7B64773F529E5CFA933D085D1FA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">One year or less</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_5FA4F7B64773F529E5CFA933D085D1FA_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_5FA4F7B64773F529E5CFA933D085D1FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_5FA4F7B64773F529E5CFA933D085D1FA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_7AE8BF54D1346B20A812A933D0851C77_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_7AE8BF54D1346B20A812A933D0851C77" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value</link:label>
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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_7392ECE8F7F727EE1885A933D0855920_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_7392ECE8F7F727EE1885A933D0855920" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After ten years</link:label>
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    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_CF03E5153015302F99E0A933D0851651_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_CF03E5153015302F99E0A933D0851651" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities Excluding ABS and MBS, Fair Value</link:label>
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    <link:loc xlink:href="afg-20170630.xsd#afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue" xlink:label="loc_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_CF03E5153015302F99E0A933D0851651" xlink:type="locator" />
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    <link:label id="lab_afg_AvailableForSaleSecuritiesAbsFairValue_376FCABAFBF525A31F50A933D0859A02_verboseLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesAbsFairValue_376FCABAFBF525A31F50A933D0859A02" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">ABS (average life of approximately 5 years)</link:label>
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    <link:label id="lab_afg_AvailableForSaleSecuritiesAbsFairValue_376FCABAFBF525A31F50A933D0859A02_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesAbsFairValue_376FCABAFBF525A31F50A933D0859A02" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-backed securities, fair value.</link:label>
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    <link:label id="lab_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_633B2D54DD5518AB4C9EA933D0851D77_label_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_633B2D54DD5518AB4C9EA933D0851D77" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage-backed Securities Available-for-sale, Fair Value Disclosure</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecurities_ABD63C63822E94028AE3A933D0850B06" xlink:type="locator" />
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    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesFairValuePercentFiscalYearMaturityAbstract_25A89A86DF923CDA7607A933D0854D03_terseLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesFairValuePercentFiscalYearMaturityAbstract_25A89A86DF923CDA7607A933D0854D03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Percent, Fiscal Year Maturity [Abstract]</link:label>
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    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesFairValuePercentFiscalYearMaturityAbstract_25A89A86DF923CDA7607A933D0854D03_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesFairValuePercentFiscalYearMaturityAbstract_25A89A86DF923CDA7607A933D0854D03" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Available For Sale Securities, Debt Maturities, Fair Value Percent, Fiscal Year Maturity [Abstract]</link:label>
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    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValuePercent_4B9D9733F7F2EB02F334A933D0850048_verboseLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValuePercent_4B9D9733F7F2EB02F334A933D0850048" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After one year through five years</link:label>
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    <link:loc xlink:href="afg-20170630.xsd#afg_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValuePercent" xlink:label="loc_afg_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValuePercent_80DF517BF46173E017B1A933D0850C39" xlink:type="locator" />
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    <link:label id="lab_afg_AvailableForSaleSecuritiesAbsFairValuePercent_7F517A914F9814308FE6A933D0856AF6_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesAbsFairValuePercent_7F517A914F9814308FE6A933D0856AF6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-backed securities, fair value, percent.</link:label>
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    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsFairValuePercent_9D13673E8EF97107A222A933D0852919_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsFairValuePercent_9D13673E8EF97107A222A933D0852919" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available for Sale Securities MBS Fair Value Percent</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsFairValuePercent_9D13673E8EF97107A222A933D0852919_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsFairValuePercent_9D13673E8EF97107A222A933D0852919" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage-backed securities, fair value, percent.</link:label>
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    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesFairValuePercent_47C52EF77CEE3D5B5DE8A933D085A30B_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesFairValuePercent_47C52EF77CEE3D5B5DE8A933D085A30B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available For Sale Securities Debt Maturities Fair Value Percent</link:label>
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    <link:loc xlink:href="afg-20170630.xsd#afg_AssetBackedSecuritiesAverageUsefulLife" xlink:label="loc_afg_AssetBackedSecuritiesAverageUsefulLife_5C0AC20FFDDE84AD5380A96E5711D39F" xlink:type="locator" />
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    <link:label id="lab_afg_MortgageBackedSecuritiesAverageUsefulLife_51503948BBFE69BAD8F8A96E62D65E2F_label_en-US" xlink:label="lab_afg_MortgageBackedSecuritiesAverageUsefulLife_51503948BBFE69BAD8F8A96E62D65E2F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Backed Securities Average Useful Life</link:label>
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    <link:loc xlink:href="afg-20170630.xsd#afg_MortgageBackedSecuritiesAverageUsefulLife" xlink:label="loc_afg_MortgageBackedSecuritiesAverageUsefulLife_51503948BBFE69BAD8F8A96E62D65E2F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_EquityComponentDomain_E16A0C70A07812218DC38A02475D86D7_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_E16A0C70A07812218DC38A02475D86D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
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    <link:label id="lab_us-gaap_MarketableSecuritiesRealizedGainLoss_43D26D699B5CB1C849DE8A02485341FE_verboseLabel_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesRealizedGainLoss_43D26D699B5CB1C849DE8A02485341FE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Realized gains (losses) on securities</link:label>
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    <link:label id="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_F5E1C2DEBACA0B86D1DE8A024853314D_verboseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_F5E1C2DEBACA0B86D1DE8A024853314D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Realized gains on subsidiaries</link:label>
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    <link:label id="lab_us-gaap_OperatingIncomeLoss_1CDB2BF53CCEB2C2A7A88A0248536231_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_1CDB2BF53CCEB2C2A7A88A0248536231" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Earnings before income taxes</link:label>
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    <link:label id="lab_us-gaap_PremiumsEarnedNetPropertyAndCasualty_AC86C6DCE22A155785CE8A0248639105_terseLabel_en-US" xlink:label="lab_us-gaap_PremiumsEarnedNetPropertyAndCasualty_AC86C6DCE22A155785CE8A0248639105" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total premiums earned</link:label>
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    <link:label id="lab_afg_MortgageBackedSecuritiesWithEmbeddedDerivativesMember_9960871D51B4F9400DE08A0247A33E86_verboseLabel_en-US" xlink:label="lab_afg_MortgageBackedSecuritiesWithEmbeddedDerivativesMember_9960871D51B4F9400DE08A0247A33E86" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">MBS with embedded derivatives</link:label>
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    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_9D7277FD392FB01475A88A0247A3D346_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_9D7277FD392FB01475A88A0247A3D346" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
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    <link:label id="lab_us-gaap_InvestmentIncomeMember_E4546D2146AE8BF77D998A0247A4112C_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeMember_E4546D2146AE8BF77D998A0247A4112C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net investment income</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross_CE86CCD1A1535A3DD8358A0248F85C1B_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross_CE86CCD1A1535A3DD8358A0248F85C1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Restricted Stock Award, Gross</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_C2D50028BB12152FC5A58A0248F8AA5D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward_CDDBD27A92777472397D8A024798F4E0_terseLabel_en-US" xlink:label="lab_us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward_CDDBD27A92777472397D8A024798F4E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Movement in Present Value of Future Insurance Profits [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward_CDDBD27A92777472397D8A024798F4E0_label_en-US" xlink:label="lab_us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward_CDDBD27A92777472397D8A024798F4E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Movement in Present Value of Future Insurance Profits [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward" xlink:label="loc_us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward_CDDBD27A92777472397D8A024798F4E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward_CDDBD27A92777472397D8A024798F4E0" xlink:to="lab_us-gaap_MovementInPresentValueOfFutureInsuranceProfitsRollForward_CDDBD27A92777472397D8A024798F4E0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ValueOfBusinessAcquiredVOBA_95A31B5EF7DF925F5E918A0247987AB9_periodStartLabel_en-US" xlink:label="lab_us-gaap_ValueOfBusinessAcquiredVOBA_95A31B5EF7DF925F5E918A0247987AB9" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Present value of future profits, beginning balance</link:label>
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    <link:label id="lab_us-gaap_ValueOfBusinessAcquiredVOBA_01585D9BA8E24F2892518A0247986BE3_periodEndLabel_en-US" xlink:label="lab_us-gaap_ValueOfBusinessAcquiredVOBA_01585D9BA8E24F2892518A0247986BE3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Present value of future profits, ending balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ValueOfBusinessAcquiredVOBA" xlink:label="loc_us-gaap_ValueOfBusinessAcquiredVOBA_01585D9BA8E24F2892518A0247986BE3" xlink:type="locator" />
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    <link:label id="lab_afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward_9600C13C31DCE3A356D68A024798A661_terseLabel_en-US" xlink:label="lab_afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward_9600C13C31DCE3A356D68A024798A661" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Movement in Unrealized Gains (Losses) Related to Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]</link:label>
    <link:label id="lab_afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward_9600C13C31DCE3A356D68A024798A661_label_en-US" xlink:label="lab_afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward_9600C13C31DCE3A356D68A024798A661" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Movement in Unrealized Related to Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]</link:label>
    <link:label id="lab_afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward_9600C13C31DCE3A356D68A024798A661_documentation_en-US" xlink:label="lab_afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward_9600C13C31DCE3A356D68A024798A661" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Movement in Unrealized Related to Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward" xlink:label="loc_afg_MovementInUnrealizedRelatedToDeferredPolicyAcquisitionCostsAndPresentValueOfFutureProfitsRollForward_9600C13C31DCE3A356D68A024798A661" xlink:type="locator" />
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    <link:label id="lab_afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLoss_1F3079F31E5EE59105188A024799A2A2_periodStartLabel_en-US" xlink:label="lab_afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLoss_1F3079F31E5EE59105188A024799A2A2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Unrealized investment gains (losses), beginning balance</link:label>
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    <link:loc xlink:href="afg-20170630.xsd#afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLoss" xlink:label="loc_afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLoss_1F3079F31E5EE59105188A024799A2A2" xlink:type="locator" />
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    <link:label id="lab_afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLossChangeinUnrealized_875C7B6427F681FE55118A0247998E86_terseLabel_en-US" xlink:label="lab_afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLossChangeinUnrealized_875C7B6427F681FE55118A0247998E86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized investment gains (losses), change in unrealized</link:label>
    <link:label id="lab_afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLossChangeinUnrealized_875C7B6427F681FE55118A0247998E86_label_en-US" xlink:label="lab_afg_DeferredPolicyAcquisitionCostsandValueofBusinessAcquiredUnrealizedInvestmentGainLossChangeinUnrealized_875C7B6427F681FE55118A0247998E86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Policy Acquisition Costs and Value of Business Acquired, Unrealized Investment Gain (Loss), Change in Unrealized</link:label>
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    <link:label id="lab_afg_OtherLongtermDebtMember_B01BF2F24AD2315AC80C8A02477BEB45_verboseLabel_en-US" xlink:label="lab_afg_OtherLongtermDebtMember_B01BF2F24AD2315AC80C8A02477BEB45" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_afg_OtherLongtermDebtMember_B01BF2F24AD2315AC80C8A02477BEB45_label_en-US" xlink:label="lab_afg_OtherLongtermDebtMember_B01BF2F24AD2315AC80C8A02477BEB45" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Long-term Debt [Member]</link:label>
    <link:label id="lab_afg_OtherLongtermDebtMember_B01BF2F24AD2315AC80C8A02477BEB45_documentation_en-US" xlink:label="lab_afg_OtherLongtermDebtMember_B01BF2F24AD2315AC80C8A02477BEB45" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Long-term Debt.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_OtherLongtermDebtMember" xlink:label="loc_afg_OtherLongtermDebtMember_B01BF2F24AD2315AC80C8A02477BEB45" xlink:type="locator" />
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    <link:label id="lab_afg_SubordinatedDebenturesDueInSeptember2054Member_134324AA544E8ED9AC8D8A02477BD045_verboseLabel_en-US" xlink:label="lab_afg_SubordinatedDebenturesDueInSeptember2054Member_134324AA544E8ED9AC8D8A02477BD045" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">6-1/4% Subordinated Debentures due September 2054</link:label>
    <link:label id="lab_afg_SubordinatedDebenturesDueInSeptember2054Member_134324AA544E8ED9AC8D8A02477BD045_label_en-US" xlink:label="lab_afg_SubordinatedDebenturesDueInSeptember2054Member_134324AA544E8ED9AC8D8A02477BD045" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subordinated Debentures Due In September 2054 [Member]</link:label>
    <link:label id="lab_afg_SubordinatedDebenturesDueInSeptember2054Member_134324AA544E8ED9AC8D8A02477BD045_documentation_en-US" xlink:label="lab_afg_SubordinatedDebenturesDueInSeptember2054Member_134324AA544E8ED9AC8D8A02477BD045" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subordinated Debentures due in September 2054.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_SubordinatedDebenturesDueInSeptember2054Member" xlink:label="loc_afg_SubordinatedDebenturesDueInSeptember2054Member_134324AA544E8ED9AC8D8A02477BD045" xlink:type="locator" />
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    <link:label id="lab_afg_SubordinatedDebenturesDueInNovember2055Member_43D0F1E28CF8C70C491D8A02477BEE50_verboseLabel_en-US" xlink:label="lab_afg_SubordinatedDebenturesDueInNovember2055Member_43D0F1E28CF8C70C491D8A02477BEE50" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">6% Subordinated Debentures due November 2055</link:label>
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    <link:label id="lab_afg_SubordinatedDebenturesDueInNovember2055Member_43D0F1E28CF8C70C491D8A02477BEE50_documentation_en-US" xlink:label="lab_afg_SubordinatedDebenturesDueInNovember2055Member_43D0F1E28CF8C70C491D8A02477BEE50" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subordinated Debentures due in November 2055.</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentLineItems_2546ECB2175913A11C958A02477B7656_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_2546ECB2175913A11C958A02477B7656" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_2546ECB2175913A11C958A02477B7656_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_2546ECB2175913A11C958A02477B7656" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_2546ECB2175913A11C958A02477B7656" xlink:type="locator" />
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    <link:label id="lab_afg_SummaryOfCarryingValueOfLongTermDebtAbstract_66B8C28EC3D3485A91B58A02477B442E_documentation_en-US" xlink:label="lab_afg_SummaryOfCarryingValueOfLongTermDebtAbstract_66B8C28EC3D3485A91B58A02477B442E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Summary of Carrying value of long-term debt.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_SummaryOfCarryingValueOfLongTermDebtAbstract" xlink:label="loc_afg_SummaryOfCarryingValueOfLongTermDebtAbstract_66B8C28EC3D3485A91B58A02477B442E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_99676B2674B5AEF8D3598A02477C6FBA_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_99676B2674B5AEF8D3598A02477C6FBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_99676B2674B5AEF8D3598A02477C6FBA_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_99676B2674B5AEF8D3598A02477C6FBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_99676B2674B5AEF8D3598A02477C6FBA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_C30F1B56D0C5C47DB76D8A02477CEC9B_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_C30F1B56D0C5C47DB76D8A02477CEC9B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Discount and Issue Costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_C30F1B56D0C5C47DB76D8A02477CEC9B_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_C30F1B56D0C5C47DB76D8A02477CEC9B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs, Net</link:label>
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    <link:label id="lab_us-gaap_LongTermDebt_B9CC49FC838837FFB7DD8A02477CC7F7_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_B9CC49FC838837FFB7DD8A02477CC7F7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Carrying Value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_B9CC49FC838837FFB7DD8A02477CC7F7_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_B9CC49FC838837FFB7DD8A02477CC7F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt</link:label>
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    <link:label id="lab_afg_DeferredPolicyAcquisitionCostsAndPresentValueOfFutureInsuranceProfitsTextBlock_FFB963F3632148759FB08A02479F6146_verboseLabel_en-US" xlink:label="lab_afg_DeferredPolicyAcquisitionCostsAndPresentValueOfFutureInsuranceProfitsTextBlock_FFB963F3632148759FB08A02479F6146" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred Policy Acquisition Costs</link:label>
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    <link:loc xlink:href="afg-20170630.xsd#afg_DeferredPolicyAcquisitionCostsAndPresentValueOfFutureInsuranceProfitsTextBlock" xlink:label="loc_afg_DeferredPolicyAcquisitionCostsAndPresentValueOfFutureInsuranceProfitsTextBlock_FFB963F3632148759FB08A02479F6146" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_62A25863601E8B8642B88A024768B182_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_62A25863601E8B8642B88A024768B182" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Components of accumulated other comprehensive income (loss)</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_62A25863601E8B8642B88A024768B182_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_62A25863601E8B8642B88A024768B182" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]</link:label>
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    <link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_8D33E54A55595BC131668A0247E08E11_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_8D33E54A55595BC131668A0247E08E11" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Fixed maturities, Available for sale, Amortized Cost</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_8D33E54A55595BC131668A0247E08E11_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_8D33E54A55595BC131668A0247E08E11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Debt Securities, Amortized Cost Basis</link:label>
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    <link:label id="lab_afg_RestrictedCommonStockIssuedFairValuePerShare_72CB3CB212EE775FB865991C4C0D32B6_documentation_en-US" xlink:label="lab_afg_RestrictedCommonStockIssuedFairValuePerShare_72CB3CB212EE775FB865991C4C0D32B6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restricted Common Stock issued, fair value per share.</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_38ABEB33B2CAB977862E991C4C0DFB27_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_38ABEB33B2CAB977862E991C4C0DFB27" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other benefit plans, shares issued (shares)</link:label>
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    <link:label id="lab_afg_CommonStockIssuedDuringPeriodFairValuePerShare_805C7775F65912B7C096991C4C0DF0C6_terseLabel_en-US" xlink:label="lab_afg_CommonStockIssuedDuringPeriodFairValuePerShare_805C7775F65912B7C096991C4C0DF0C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock issued, fair value per share (USD per share)</link:label>
    <link:label id="lab_afg_CommonStockIssuedDuringPeriodFairValuePerShare_805C7775F65912B7C096991C4C0DF0C6_label_en-US" xlink:label="lab_afg_CommonStockIssuedDuringPeriodFairValuePerShare_805C7775F65912B7C096991C4C0DF0C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Issued During Period Fair Value Per Share</link:label>
    <link:label id="lab_afg_CommonStockIssuedDuringPeriodFairValuePerShare_805C7775F65912B7C096991C4C0DF0C6_documentation_en-US" xlink:label="lab_afg_CommonStockIssuedDuringPeriodFairValuePerShare_805C7775F65912B7C096991C4C0DF0C6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock issued during period, fair value per share.</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_BC628CBF1C779AE37F03991C4C0D6C50_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_BC628CBF1C779AE37F03991C4C0D6C50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock options issued under stock incentive plan (shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_BC628CBF1C779AE37F03991C4C0D6C50_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_BC628CBF1C779AE37F03991C4C0D6C50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_BC628CBF1C779AE37F03991C4C0D6C50" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_BC628CBF1C779AE37F03991C4C0D6C50" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_BC628CBF1C779AE37F03991C4C0D6C50" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_DEB2B6DC6BE484283756991C4C0D2251_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_DEB2B6DC6BE484283756991C4C0D2251" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation expense related to stock incentive plans</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_DEB2B6DC6BE484283756991C4C0D2251_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_DEB2B6DC6BE484283756991C4C0D2251" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allocated Share-based Compensation Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_DEB2B6DC6BE484283756991C4C0D2251" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncomeStatementAbstract_EEBF97CF738597863A8D8A0249252608_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_EEBF97CF738597863A8D8A0249252608" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_EEBF97CF738597863A8D8A0249252608" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RevenuesAbstract_393154BD99D2F61A69B68A0249267AA2_verboseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_393154BD99D2F61A69B68A0249267AA2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revenues:</link:label>
    <link:label id="lab_us-gaap_RevenuesAbstract_393154BD99D2F61A69B68A0249267AA2_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_393154BD99D2F61A69B68A0249267AA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_393154BD99D2F61A69B68A0249267AA2" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PremiumsEarnedNetPropertyAndCasualty_AA9ECB0CFF86D2A32F178A02492624A1_verboseLabel_en-US" xlink:label="lab_us-gaap_PremiumsEarnedNetPropertyAndCasualty_AA9ECB0CFF86D2A32F178A02492624A1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Property and casualty insurance net earned premiums</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PremiumsEarnedNetPropertyAndCasualty" xlink:label="loc_us-gaap_PremiumsEarnedNetPropertyAndCasualty_AA9ECB0CFF86D2A32F178A02492624A1" xlink:type="locator" />
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    <link:label id="lab_afg_LifeAccidentAndHealthPremiums_C753B915742C0F22AB248A02492671B7_verboseLabel_en-US" xlink:label="lab_afg_LifeAccidentAndHealthPremiums_C753B915742C0F22AB248A02492671B7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Life, accident and health net earned premiums</link:label>
    <link:label id="lab_afg_LifeAccidentAndHealthPremiums_C753B915742C0F22AB248A02492671B7_label_en-US" xlink:label="lab_afg_LifeAccidentAndHealthPremiums_C753B915742C0F22AB248A02492671B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life, Accident and Health Premiums</link:label>
    <link:label id="lab_afg_LifeAccidentAndHealthPremiums_C753B915742C0F22AB248A02492671B7_documentation_en-US" xlink:label="lab_afg_LifeAccidentAndHealthPremiums_C753B915742C0F22AB248A02492671B7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Life, accident and health premiums.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_LifeAccidentAndHealthPremiums" xlink:label="loc_afg_LifeAccidentAndHealthPremiums_C753B915742C0F22AB248A02492671B7" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetInvestmentIncome_ECB6227DE83EF158380F8A0249267D8B_terseLabel_en-US" xlink:label="lab_us-gaap_NetInvestmentIncome_ECB6227DE83EF158380F8A0249267D8B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net investment income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetInvestmentIncome" xlink:label="loc_us-gaap_NetInvestmentIncome_ECB6227DE83EF158380F8A0249267D8B" xlink:type="locator" />
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    <link:label id="lab_afg_RealizedGainsLossesOnAbstract_8B5C022D40A03B5048CA8A0249262279_terseLabel_en-US" xlink:label="lab_afg_RealizedGainsLossesOnAbstract_8B5C022D40A03B5048CA8A0249262279" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Realized gains (losses) on:</link:label>
    <link:label id="lab_afg_RealizedGainsLossesOnAbstract_8B5C022D40A03B5048CA8A0249262279_label_en-US" xlink:label="lab_afg_RealizedGainsLossesOnAbstract_8B5C022D40A03B5048CA8A0249262279" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Realized Gains (Losses) on [Abstract]</link:label>
    <link:label id="lab_afg_RealizedGainsLossesOnAbstract_8B5C022D40A03B5048CA8A0249262279_documentation_en-US" xlink:label="lab_afg_RealizedGainsLossesOnAbstract_8B5C022D40A03B5048CA8A0249262279" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Realized gains (losses) on.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_RealizedGainsLossesOnAbstract" xlink:label="loc_afg_RealizedGainsLossesOnAbstract_8B5C022D40A03B5048CA8A0249262279" xlink:type="locator" />
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    <link:label id="lab_us-gaap_MarketableSecuritiesRealizedGainLoss_5A1708A3E64C9CDEDEBE8A02492691F2_terseLabel_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesRealizedGainLoss_5A1708A3E64C9CDEDEBE8A02492691F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MarketableSecuritiesRealizedGainLoss" xlink:label="loc_us-gaap_MarketableSecuritiesRealizedGainLoss_5A1708A3E64C9CDEDEBE8A02492691F2" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_05A2BCF03DB27FDE14D18A02492696EC_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_05A2BCF03DB27FDE14D18A02492696EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiaries</link:label>
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    <link:label id="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_1CE40A1988B1679FAE308A024926EE80_verboseLabel_en-US" xlink:label="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_1CE40A1988B1679FAE308A024926EE80" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income (loss) of managed investment entities:</link:label>
    <link:label id="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_1CE40A1988B1679FAE308A024926EE80_label_en-US" xlink:label="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_1CE40A1988B1679FAE308A024926EE80" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) of Managed Investment Entities [Abstract]</link:label>
    <link:label id="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_1CE40A1988B1679FAE308A024926EE80_documentation_en-US" xlink:label="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_1CE40A1988B1679FAE308A024926EE80" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income (loss) of managed investment entities.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_IncomeLossOfManagedInvestmentEntitiesAbstract" xlink:label="loc_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_1CE40A1988B1679FAE308A024926EE80" xlink:type="locator" />
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    <link:label id="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_7F9FD8BE11207D45265F8A024926520B_verboseLabel_en-US" xlink:label="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_7F9FD8BE11207D45265F8A024926520B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investment income</link:label>
    <link:label id="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_7F9FD8BE11207D45265F8A024926520B_label_en-US" xlink:label="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_7F9FD8BE11207D45265F8A024926520B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income of Managed Investment Entities</link:label>
    <link:label id="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_7F9FD8BE11207D45265F8A024926520B_documentation_en-US" xlink:label="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_7F9FD8BE11207D45265F8A024926520B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment income of managed investment entities.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_InvestmentIncomeOfManagedInvestmentEntities" xlink:label="loc_afg_InvestmentIncomeOfManagedInvestmentEntities_7F9FD8BE11207D45265F8A024926520B" xlink:type="locator" />
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    <link:label id="lab_afg_FairValueMeasurementsTextualAbstract_6EACFE502398861142D49F5AA9F83F31_verboseLabel_en-US" xlink:label="lab_afg_FairValueMeasurementsTextualAbstract_6EACFE502398861142D49F5AA9F83F31" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements (Textual) [Abstract]</link:label>
    <link:label id="lab_afg_FairValueMeasurementsTextualAbstract_6EACFE502398861142D49F5AA9F83F31_label_en-US" xlink:label="lab_afg_FairValueMeasurementsTextualAbstract_6EACFE502398861142D49F5AA9F83F31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurements (Textual) [Abstract]</link:label>
    <link:label id="lab_afg_FairValueMeasurementsTextualAbstract_6EACFE502398861142D49F5AA9F83F31_documentation_en-US" xlink:label="lab_afg_FairValueMeasurementsTextualAbstract_6EACFE502398861142D49F5AA9F83F31" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value Measurements.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_FairValueMeasurementsTextualAbstract" xlink:label="loc_afg_FairValueMeasurementsTextualAbstract_6EACFE502398861142D49F5AA9F83F31" xlink:type="locator" />
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    <link:label id="lab_afg_NumberOfInternalInvestmentProfessionals_571EF06596A8DCBA9A3B9F5AA9F87F4E_terseLabel_en-US" xlink:label="lab_afg_NumberOfInternalInvestmentProfessionals_571EF06596A8DCBA9A3B9F5AA9F87F4E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">AFG's internal investment professionals</link:label>
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    <link:label id="lab_afg_NumberOfInternalInvestmentProfessionals_571EF06596A8DCBA9A3B9F5AA9F87F4E_documentation_en-US" xlink:label="lab_afg_NumberOfInternalInvestmentProfessionals_571EF06596A8DCBA9A3B9F5AA9F87F4E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of internal investment professionals.</link:label>
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    <link:label id="lab_afg_NumberofStocksTransferredfromLevel2toLevel1DuringthePeriod_0A44DD02FD5F07E9E5909F5AA9F85226_terseLabel_en-US" xlink:label="lab_afg_NumberofStocksTransferredfromLevel2toLevel1DuringthePeriod_0A44DD02FD5F07E9E5909F5AA9F85226" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of stocks transferred from Level 2 to Level 1</link:label>
    <link:label id="lab_afg_NumberofStocksTransferredfromLevel2toLevel1DuringthePeriod_0A44DD02FD5F07E9E5909F5AA9F85226_label_en-US" xlink:label="lab_afg_NumberofStocksTransferredfromLevel2toLevel1DuringthePeriod_0A44DD02FD5F07E9E5909F5AA9F85226" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Stocks Transferred from Level 2 to Level 1 During the Period</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_NumberofStocksTransferredfromLevel2toLevel1DuringthePeriod_0A44DD02FD5F07E9E5909F5AA9F85226" xlink:to="lab_afg_NumberofStocksTransferredfromLevel2toLevel1DuringthePeriod_0A44DD02FD5F07E9E5909F5AA9F85226" xlink:type="arc" />
    <link:label id="lab_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127_terseLabel_en-US" xlink:label="lab_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of assets transferred from Level 2 to Level 1, during the second quarter</link:label>
    <link:label id="lab_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127_label_en-US" xlink:label="lab_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets, Level 2 to Level 1 Transfers, During the Period, Amount</link:label>
    <link:label id="lab_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127_documentation_en-US" xlink:label="lab_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The sum of amount of transfers of assets measured on a recurring basis out of Level 2 of the fair value hierarchy into Level 1 for each applicable quarter end period.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount" xlink:label="loc_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127" xlink:to="lab_afg_FairValueAssetsLevel2toLevel1TransfersDuringthePeriodAmount_27C4A47CBC91E0B7D0EA9F5AA9F80127" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount_12EC36461EAA44D22BDB9F5AA9F81262_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount_12EC36461EAA44D22BDB9F5AA9F81262" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of assets transferred from Level 2 to Level 1, during the first six months</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount_12EC36461EAA44D22BDB9F5AA9F81262_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount_12EC36461EAA44D22BDB9F5AA9F81262" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets, Level 2 to Level 1 Transfers, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount" xlink:label="loc_us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount_12EC36461EAA44D22BDB9F5AA9F81262" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount_12EC36461EAA44D22BDB9F5AA9F81262" xlink:to="lab_us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount_12EC36461EAA44D22BDB9F5AA9F81262" xlink:type="arc" />
    <link:label id="lab_afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod_BFAC346888FF2AFE7D099F5AA9F89CF1_terseLabel_en-US" xlink:label="lab_afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod_BFAC346888FF2AFE7D099F5AA9F89CF1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of stocks transferred from Level 1 to Level 2</link:label>
    <link:label id="lab_afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod_BFAC346888FF2AFE7D099F5AA9F89CF1_label_en-US" xlink:label="lab_afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod_BFAC346888FF2AFE7D099F5AA9F89CF1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Stocks Transferred from Level 1 to Level 2 During the Period</link:label>
    <link:label id="lab_afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod_BFAC346888FF2AFE7D099F5AA9F89CF1_documentation_en-US" xlink:label="lab_afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod_BFAC346888FF2AFE7D099F5AA9F89CF1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The sum of number of stocks transferred from Level 1 to Level 2 for each applicable quarter end period.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod" xlink:label="loc_afg_NumberofStocksTransferredfromLevel1toLevel2DuringthePeriod_BFAC346888FF2AFE7D099F5AA9F89CF1" xlink:type="locator" />
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    <link:label id="lab_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68_terseLabel_en-US" xlink:label="lab_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of assets transferred from Level 1 to Level 2, during the second quarter</link:label>
    <link:label id="lab_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68_label_en-US" xlink:label="lab_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets, Level 1 to Level 2 Transfers, During the Period, Amount</link:label>
    <link:label id="lab_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68_documentation_en-US" xlink:label="lab_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The sum of amount of transfers of assets measured on a recurring basis out of Level 1 of the fair value hierarchy into Level 2 for each applicable quarter end period.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount" xlink:label="loc_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68" xlink:to="lab_afg_FairValueAssetsLevel1toLevel2TransfersDuringthePeriodAmount_79690C0110A88248A50C9F5D49AB2B68" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_64C76301889736A5D4FD9F5AA9F8439B_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_64C76301889736A5D4FD9F5AA9F8439B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of assets transferred from Level 1 to Level 2, during the first six months</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_64C76301889736A5D4FD9F5AA9F8439B_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_64C76301889736A5D4FD9F5AA9F8439B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets, Level 1 to Level 2 Transfers, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount" xlink:label="loc_us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_64C76301889736A5D4FD9F5AA9F8439B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_64C76301889736A5D4FD9F5AA9F8439B" xlink:to="lab_us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_64C76301889736A5D4FD9F5AA9F8439B" xlink:type="arc" />
    <link:label id="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_CAB1B056AD8CEFD757659F5AA9F8598B_terseLabel_en-US" xlink:label="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_CAB1B056AD8CEFD757659F5AA9F8598B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3 assets as a percentage of total assets measured at fair value</link:label>
    <link:label id="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_CAB1B056AD8CEFD757659F5AA9F8598B_label_en-US" xlink:label="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_CAB1B056AD8CEFD757659F5AA9F8598B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level Three Asset As Percentage Of Asset Measured At Fair Value</link:label>
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    <link:loc xlink:href="afg-20170630.xsd#afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue" xlink:label="loc_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_CAB1B056AD8CEFD757659F5AA9F8598B" xlink:type="locator" />
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    <link:label id="lab_afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_DDA677F11356AB429B259F5AA9F802E7_terseLabel_en-US" xlink:label="lab_afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_DDA677F11356AB429B259F5AA9F802E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of level 3 assets that were priced using non-binding broker quotes</link:label>
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    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_B4D0144C9EA60A27CF888A02489C7544_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_B4D0144C9EA60A27CF888A02489C7544" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_BBD2E5269108B2C58F028A0248D8DB16_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_BBD2E5269108B2C58F028A0248D8DB16" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net sales of trading securities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_BBD2E5269108B2C58F028A0248D8DB16_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_BBD2E5269108B2C58F028A0248D8DB16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from (Payments for) Trading Securities, Short-term</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromPaymentsForTradingSecurities" xlink:label="loc_us-gaap_ProceedsFromPaymentsForTradingSecurities_BBD2E5269108B2C58F028A0248D8DB16" xlink:type="locator" />
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    <link:label id="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_191F25916DECC34497338A0248D8936C_negatedLabel_en-US" xlink:label="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_191F25916DECC34497338A0248D8936C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred annuity and life policy acquisition costs</link:label>
    <link:label id="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_191F25916DECC34497338A0248D8936C_label_en-US" xlink:label="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_191F25916DECC34497338A0248D8936C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Annuity and Life Policy Acquisition Costs</link:label>
    <link:label id="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_191F25916DECC34497338A0248D8936C_documentation_en-US" xlink:label="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_191F25916DECC34497338A0248D8936C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annuity and Life additions during the period in (a) capitalized costs that vary with and are primarily related to the acquisition of new and renewal insurance contracts and coverage, and (b) capitalized present value of future profits (also known as value of business acquired).</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_DeferredAnnuityAndLifePolicyAcquisitionCosts" xlink:label="loc_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_191F25916DECC34497338A0248D8936C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AEAB0366D3D5ACFC0D048A0248D990D2_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AEAB0366D3D5ACFC0D048A0248D990D2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Change in:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AEAB0366D3D5ACFC0D048A0248D990D2_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AEAB0366D3D5ACFC0D048A0248D990D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AEAB0366D3D5ACFC0D048A0248D990D2" xlink:type="locator" />
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    <link:label id="lab_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1_verboseLabel_en-US" xlink:label="lab_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Reinsurance and other receivables</link:label>
    <link:label id="lab_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1_label_en-US" xlink:label="lab_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease (Increase) in Reinsurance and Other Receivables</link:label>
    <link:label id="lab_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1_documentation_en-US" xlink:label="lab_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Decrease (increase) in reinsurance, agent's balances and premiums receivable and other receivables.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_DecreaseIncreaseInReinsuranceAndOtherReceivables" xlink:label="loc_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1" xlink:to="lab_afg_DecreaseIncreaseInReinsuranceAndOtherReceivables_2FF215A68964A36F80DF8A0248D94EC1" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_4E61F68DC75459D3C7008A0248D9E0D8_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_4E61F68DC75459D3C7008A0248D9E0D8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_4E61F68DC75459D3C7008A0248D9E0D8_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_4E61F68DC75459D3C7008A0248D9E0D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_4E61F68DC75459D3C7008A0248D9E0D8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_4E61F68DC75459D3C7008A0248D9E0D8" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_4E61F68DC75459D3C7008A0248D9E0D8" xlink:type="arc" />
    <link:label id="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_E3A9FD9632319E4FC2BB8A0248D9BAC2_verboseLabel_en-US" xlink:label="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_E3A9FD9632319E4FC2BB8A0248D9BAC2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Insurance claims and reserves</link:label>
    <link:label id="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_E3A9FD9632319E4FC2BB8A0248D9BAC2_label_en-US" xlink:label="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_E3A9FD9632319E4FC2BB8A0248D9BAC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Insurance Claims and Reserves</link:label>
    <link:label id="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_E3A9FD9632319E4FC2BB8A0248D9BAC2_documentation_en-US" xlink:label="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_E3A9FD9632319E4FC2BB8A0248D9BAC2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net change in the beginning and end of the period for unpaid losses and loss adjustment expenses, unearned premiums, and life, accident and health reserves needed to adjust net income to arrive at net cash flows provided by (used in) operating activities.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_IncreaseDecreaseInInsuranceClaimsAndReserves" xlink:label="loc_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_E3A9FD9632319E4FC2BB8A0248D9BAC2" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInReinsurancePayables_FEEBC1D8EA0821EB43A88A0248D99614_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReinsurancePayables_FEEBC1D8EA0821EB43A88A0248D99614" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Payable to reinsurers</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInReinsurancePayables_FEEBC1D8EA0821EB43A88A0248D99614_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReinsurancePayables_FEEBC1D8EA0821EB43A88A0248D99614" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Reinsurance Payables</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInReinsurancePayables" xlink:label="loc_us-gaap_IncreaseDecreaseInReinsurancePayables_FEEBC1D8EA0821EB43A88A0248D99614" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_F772336969220CC5C3A18A0248D97051_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_F772336969220CC5C3A18A0248D97051" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_F772336969220CC5C3A18A0248D97051_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_F772336969220CC5C3A18A0248D97051" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_F772336969220CC5C3A18A0248D97051" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_F772336969220CC5C3A18A0248D97051" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_F772336969220CC5C3A18A0248D97051" xlink:type="arc" />
    <link:label id="lab_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E_negatedLabel_en-US" xlink:label="lab_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Managed investment entities&#8217; assets/liabilities</link:label>
    <link:label id="lab_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E_label_en-US" xlink:label="lab_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Managed Investment Entities Assets And Liabilities</link:label>
    <link:label id="lab_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E_documentation_en-US" xlink:label="lab_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) during the reporting period in other operating assets and liabilities of managed investment entities.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_ManagedInvestmentEntitiesAssetsAndLiabilities" xlink:label="loc_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E" xlink:to="lab_afg_ManagedInvestmentEntitiesAssetsAndLiabilities_1F2F744C3732EAFD9F158A0248D9206E" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_F904DC30E42D3F528C3E8A0248D94427_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_F904DC30E42D3F528C3E8A0248D94427" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other operating activities, net</link:label>
    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_F904DC30E42D3F528C3E8A0248D94427_label_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_F904DC30E42D3F528C3E8A0248D94427" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Operating Activities, Cash Flow Statement</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:label="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement_F904DC30E42D3F528C3E8A0248D94427" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_A00602073595E44CBE2D8A0248D93F8B_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_A00602073595E44CBE2D8A0248D93F8B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_A00602073595E44CBE2D8A0248D93F8B_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_A00602073595E44CBE2D8A0248D93F8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_A00602073595E44CBE2D8A0248D93F8B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_7A25623015C3C473EA808A0248D90676_verboseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_7A25623015C3C473EA808A0248D90676" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investing Activities:</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_5C9049550DC87A0342D98A0248D9DFD3_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_5C9049550DC87A0342D98A0248D9DFD3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of fixed maturities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_5C9049550DC87A0342D98A0248D9DFD3_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_5C9049550DC87A0342D98A0248D9DFD3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Available-for-sale Securities, Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_5C9049550DC87A0342D98A0248D9DFD3" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity_302FB0D17B084D55AF108A0248D9DFE0_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity_302FB0D17B084D55AF108A0248D9DFE0" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of equity securities</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireOtherInvestments" xlink:label="loc_us-gaap_PaymentsToAcquireOtherInvestments_ADEAD2690D193476E48A8A0248D9F6E4" xlink:type="locator" />
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    <link:label id="lab_afg_PurchasesOfRealEstatePropertyAndEquipment_D230B9EFAB3B41368C488A0248D970EF_label_en-US" xlink:label="lab_afg_PurchasesOfRealEstatePropertyAndEquipment_D230B9EFAB3B41368C488A0248D970EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchases of Real Estate, Property and Equipment</link:label>
    <link:label id="lab_afg_PurchasesOfRealEstatePropertyAndEquipment_D230B9EFAB3B41368C488A0248D970EF_documentation_en-US" xlink:label="lab_afg_PurchasesOfRealEstatePropertyAndEquipment_D230B9EFAB3B41368C488A0248D970EF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash outflow associated with the purchase of real estate held for investment purposes and cash flows associated with the acquisition of long-lived, physical assets that are used in the normal course of business.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_PurchasesOfRealEstatePropertyAndEquipment" xlink:label="loc_afg_PurchasesOfRealEstatePropertyAndEquipment_D230B9EFAB3B41368C488A0248D970EF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E677F9E12A2463363CF48A0248D9A5F1_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E677F9E12A2463363CF48A0248D9A5F1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from maturities and redemptions of fixed maturities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E677F9E12A2463363CF48A0248D9A5F1_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E677F9E12A2463363CF48A0248D9A5F1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E677F9E12A2463363CF48A0248D9A5F1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E677F9E12A2463363CF48A0248D9A5F1" xlink:to="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E677F9E12A2463363CF48A0248D9A5F1" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_7ABA0F8EEBCF463A29888A0248DA6C2D_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_7ABA0F8EEBCF463A29888A0248DA6C2D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from repayments of mortgage loans</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_7ABA0F8EEBCF463A29888A0248DA6C2D_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_7ABA0F8EEBCF463A29888A0248DA6C2D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale and Collection of Mortgage Notes Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable" xlink:label="loc_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_7ABA0F8EEBCF463A29888A0248DA6C2D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_7ABA0F8EEBCF463A29888A0248DA6C2D" xlink:to="lab_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_7ABA0F8EEBCF463A29888A0248DA6C2D" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_936D5E6BE660514521258A0248DA4B8F_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_936D5E6BE660514521258A0248DA4B8F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales of fixed maturities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_936D5E6BE660514521258A0248DA4B8F_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_936D5E6BE660514521258A0248DA4B8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Available-for-sale Securities, Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:label="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_936D5E6BE660514521258A0248DA4B8F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_936D5E6BE660514521258A0248DA4B8F" xlink:to="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_936D5E6BE660514521258A0248DA4B8F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_8B192957676BECBDBF338A0248DA23CD_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_8B192957676BECBDBF338A0248DA23CD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales of equity securities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_8B192957676BECBDBF338A0248DA23CD_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_8B192957676BECBDBF338A0248DA23CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Available-for-sale Securities, Equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity" xlink:label="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_8B192957676BECBDBF338A0248DA23CD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_8B192957676BECBDBF338A0248DA23CD" xlink:to="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_8B192957676BECBDBF338A0248DA23CD" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments_71EA22C14F2957F4E1FD8A0248DA11D6_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments_71EA22C14F2957F4E1FD8A0248DA11D6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales and settlements of equity index call options and other investments</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments_71EA22C14F2957F4E1FD8A0248DA11D6_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments_71EA22C14F2957F4E1FD8A0248DA11D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale and Maturity of Other Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments_71EA22C14F2957F4E1FD8A0248DA11D6" xlink:type="locator" />
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    <link:label id="lab_afg_ProceedsFromSalesOfRealEstatePropertyAndEquipment_5A110F808563E1484A698A0248DAAC04_verboseLabel_en-US" xlink:label="lab_afg_ProceedsFromSalesOfRealEstatePropertyAndEquipment_5A110F808563E1484A698A0248DAAC04" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales of real estate, property and equipment</link:label>
    <link:label id="lab_afg_ProceedsFromSalesOfRealEstatePropertyAndEquipment_5A110F808563E1484A698A0248DAAC04_label_en-US" xlink:label="lab_afg_ProceedsFromSalesOfRealEstatePropertyAndEquipment_5A110F808563E1484A698A0248DAAC04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Sales Of Real Estate Property and Equipment</link:label>
    <link:label id="lab_afg_ProceedsFromSalesOfRealEstatePropertyAndEquipment_5A110F808563E1484A698A0248DAAC04_documentation_en-US" xlink:label="lab_afg_ProceedsFromSalesOfRealEstatePropertyAndEquipment_5A110F808563E1484A698A0248DAAC04" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash inflow associated with the sale of real estate, property and equipment.</link:label>
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    <link:label id="lab_afg_ManagedInvestmentsEntitiesAbstract_1E3788FE4624A875F46E8A0248DAB974_verboseLabel_en-US" xlink:label="lab_afg_ManagedInvestmentsEntitiesAbstract_1E3788FE4624A875F46E8A0248DAB974" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Managed investment entities:</link:label>
    <link:label id="lab_afg_ManagedInvestmentsEntitiesAbstract_1E3788FE4624A875F46E8A0248DAB974_label_en-US" xlink:label="lab_afg_ManagedInvestmentsEntitiesAbstract_1E3788FE4624A875F46E8A0248DAB974" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Managed Investments Entities [Abstract]</link:label>
    <link:label id="lab_afg_ManagedInvestmentsEntitiesAbstract_1E3788FE4624A875F46E8A0248DAB974_documentation_en-US" xlink:label="lab_afg_ManagedInvestmentsEntitiesAbstract_1E3788FE4624A875F46E8A0248DAB974" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Managed investments entities.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_ManagedInvestmentsEntitiesAbstract" xlink:label="loc_afg_ManagedInvestmentsEntitiesAbstract_1E3788FE4624A875F46E8A0248DAB974" xlink:type="locator" />
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    <link:label id="lab_afg_PurchasesOfInvestmentsByManagedInvestmentEntities_2DAAEF45EFF20850A4F88A0248DAB177_negatedLabel_en-US" xlink:label="lab_afg_PurchasesOfInvestmentsByManagedInvestmentEntities_2DAAEF45EFF20850A4F88A0248DAB177" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of investments</link:label>
    <link:label id="lab_afg_PurchasesOfInvestmentsByManagedInvestmentEntities_2DAAEF45EFF20850A4F88A0248DAB177_label_en-US" xlink:label="lab_afg_PurchasesOfInvestmentsByManagedInvestmentEntities_2DAAEF45EFF20850A4F88A0248DAB177" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchases of Investments by Managed Investment Entities</link:label>
    <link:label id="lab_afg_PurchasesOfInvestmentsByManagedInvestmentEntities_2DAAEF45EFF20850A4F88A0248DAB177_documentation_en-US" xlink:label="lab_afg_PurchasesOfInvestmentsByManagedInvestmentEntities_2DAAEF45EFF20850A4F88A0248DAB177" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash outflow from the purchase of investments by managed investment entities.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_PurchasesOfInvestmentsByManagedInvestmentEntities" xlink:label="loc_afg_PurchasesOfInvestmentsByManagedInvestmentEntities_2DAAEF45EFF20850A4F88A0248DAB177" xlink:type="locator" />
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    <link:label id="lab_afg_ProceedsFromSalesAndRedemptionsOfInvestmentsByManagedInvestmentEntities_B945C0AAB8369FABDB498A0248DAC025_verboseLabel_en-US" xlink:label="lab_afg_ProceedsFromSalesAndRedemptionsOfInvestmentsByManagedInvestmentEntities_B945C0AAB8369FABDB498A0248DAC025" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales and redemptions of investments</link:label>
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    <link:label id="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_F50D6385F79931E6D4BDA8349402835E_label_en-US" xlink:label="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_F50D6385F79931E6D4BDA8349402835E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Classification [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_F50D6385F79931E6D4BDA8349402835E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_E7AAB5D74DA6A2169708A834940246D6_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_E7AAB5D74DA6A2169708A834940246D6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable interest entity, primary beneficiary</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_E7AAB5D74DA6A2169708A834940246D6_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_E7AAB5D74DA6A2169708A834940246D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_E7AAB5D74DA6A2169708A834940246D6" xlink:type="locator" />
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    <link:label id="lab_afg_NewCollateralizedLoanObligationEntitiesMember_9B67D6C1BF0E3C117DE3A83494023FE8_terseLabel_en-US" xlink:label="lab_afg_NewCollateralizedLoanObligationEntitiesMember_9B67D6C1BF0E3C117DE3A83494023FE8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Collateralized Loan Obligation Entities</link:label>
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    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_5896C8DFF56EAD4AF5A7A834940263E6_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_5896C8DFF56EAD4AF5A7A834940263E6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
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    <link:label id="lab_afg_PercentageOfInvestmentOfMostSubordinateDebtTrancheOfVariableInterestEntityMinimum_BE501CF4A86776B3A1D8A834940243F7_verboseLabel_en-US" xlink:label="lab_afg_PercentageOfInvestmentOfMostSubordinateDebtTrancheOfVariableInterestEntityMinimum_BE501CF4A86776B3A1D8A834940243F7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percentage of investment of most subordinate debt tranche, Minimum</link:label>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_08FF5F1DEC341C3071D38A024774639A_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_08FF5F1DEC341C3071D38A024774639A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Scheduled principal payments on debt in 2018</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_0CA739153A7DAD2A40318A02477452C3" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_0CA739153A7DAD2A40318A02477452C3" xlink:type="arc" />
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_BBE7D6D26DDEC1B1575C8A024774FA61_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_BBE7D6D26DDEC1B1575C8A024774FA61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Four</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_BBE7D6D26DDEC1B1575C8A024774FA61" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_2778F56F3D5EA559223D8A0247751AD4_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_2778F56F3D5EA559223D8A0247751AD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_2778F56F3D5EA559223D8A0247751AD4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_2778F56F3D5EA559223D8A0247751AD4" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_2778F56F3D5EA559223D8A0247751AD4" xlink:type="arc" />
    <link:label id="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1FBC5C9A9CE37FBBCEAF8A024775CEFC_verboseLabel_en-US" xlink:label="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1FBC5C9A9CE37FBBCEAF8A024775CEFC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Scheduled principal payments on debt in 2022</link:label>
    <link:label id="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1FBC5C9A9CE37FBBCEAF8A024775CEFC_label_en-US" xlink:label="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1FBC5C9A9CE37FBBCEAF8A024775CEFC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturities, Repayments Of Principal In Year Six</link:label>
    <link:label id="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1FBC5C9A9CE37FBBCEAF8A024775CEFC_documentation_en-US" xlink:label="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1FBC5C9A9CE37FBBCEAF8A024775CEFC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the sixth fiscal year following the latest fiscal year ended.</link:label>
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    <link:label id="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearSix_A2B23FC3D542BDE296DF8A0247753521_verboseLabel_en-US" xlink:label="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearSix_A2B23FC3D542BDE296DF8A0247753521" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Scheduled principal payments on debt after 2022</link:label>
    <link:label id="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearSix_A2B23FC3D542BDE296DF8A0247753521_label_en-US" xlink:label="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearSix_A2B23FC3D542BDE296DF8A0247753521" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturities, Repayments Of Principal After Year Six</link:label>
    <link:label id="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearSix_A2B23FC3D542BDE296DF8A0247753521_documentation_en-US" xlink:label="lab_afg_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearSix_A2B23FC3D542BDE296DF8A0247753521" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the sixth fiscal year following the latest fiscal year.</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_7FF7A57DFD3D2F7DDA848A0247754AD9_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_7FF7A57DFD3D2F7DDA848A0247754AD9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes, aggregate principal amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_7FF7A57DFD3D2F7DDA848A0247754AD9_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_7FF7A57DFD3D2F7DDA848A0247754AD9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_7FF7A57DFD3D2F7DDA848A0247754AD9" xlink:type="locator" />
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    <link:label id="lab_afg_DebtInstrumentIssuancePriceAsPercentageOfParValue_FE513013CCB331EA94E28A0247758DBF_terseLabel_en-US" xlink:label="lab_afg_DebtInstrumentIssuancePriceAsPercentageOfParValue_FE513013CCB331EA94E28A0247758DBF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes, issuance price as a percentage of par value</link:label>
    <link:label id="lab_afg_DebtInstrumentIssuancePriceAsPercentageOfParValue_FE513013CCB331EA94E28A0247758DBF_label_en-US" xlink:label="lab_afg_DebtInstrumentIssuancePriceAsPercentageOfParValue_FE513013CCB331EA94E28A0247758DBF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Issuance Price As Percentage Of Par Value</link:label>
    <link:label id="lab_afg_DebtInstrumentIssuancePriceAsPercentageOfParValue_FE513013CCB331EA94E28A0247758DBF_documentation_en-US" xlink:label="lab_afg_DebtInstrumentIssuancePriceAsPercentageOfParValue_FE513013CCB331EA94E28A0247758DBF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the debt instrument&#8217;s issuance price as a percentage of the debt instrument's face amount.</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_9DAF0C1C95EE236FE6418A0247753480_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_9DAF0C1C95EE236FE6418A0247753480" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes, amount of the original debt instrument that was redeemed</link:label>
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    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1AC0509E3D9A787A514B8A024775AE28_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1AC0509E3D9A787A514B8A024775AE28" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revolving credit line</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_9FD1242B8CC70A1BCF958A02477518D0_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_9FD1242B8CC70A1BCF958A02477518D0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rate on revolving debt facility</link:label>
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    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy_1EFC966D3C72DB9113478A0248AC5965_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy_1EFC966D3C72DB9113478A0248AC5965" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy_1EFC966D3C72DB9113478A0248AC5965" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy_1EFC966D3C72DB9113478A0248AC5965" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy_1EFC966D3C72DB9113478A0248AC5965" xlink:type="arc" />
    <link:label id="lab_us-gaap_ReinsuranceAccountingPolicy_E8A6111C262EF7F6E4678A0248AC284F_verboseLabel_en-US" xlink:label="lab_us-gaap_ReinsuranceAccountingPolicy_E8A6111C262EF7F6E4678A0248AC284F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Reinsurance</link:label>
    <link:label id="lab_us-gaap_ReinsuranceAccountingPolicy_E8A6111C262EF7F6E4678A0248AC284F_label_en-US" xlink:label="lab_us-gaap_ReinsuranceAccountingPolicy_E8A6111C262EF7F6E4678A0248AC284F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reinsurance Accounting Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReinsuranceAccountingPolicy" xlink:label="loc_us-gaap_ReinsuranceAccountingPolicy_E8A6111C262EF7F6E4678A0248AC284F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReinsuranceAccountingPolicy_E8A6111C262EF7F6E4678A0248AC284F" xlink:to="lab_us-gaap_ReinsuranceAccountingPolicy_E8A6111C262EF7F6E4678A0248AC284F" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy_22837976E5B024C39D528A0248ACC2F7_verboseLabel_en-US" xlink:label="lab_us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy_22837976E5B024C39D528A0248ACC2F7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred Policy Acquisition Costs (DPAC)</link:label>
    <link:label id="lab_us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy_22837976E5B024C39D528A0248ACC2F7_label_en-US" xlink:label="lab_us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy_22837976E5B024C39D528A0248ACC2F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Policy Acquisition Costs, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy" xlink:label="loc_us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy_22837976E5B024C39D528A0248ACC2F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy_22837976E5B024C39D528A0248ACC2F7" xlink:to="lab_us-gaap_CapitalizationOfDeferredPolicyAcquisitionCostsPolicy_22837976E5B024C39D528A0248ACC2F7" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_02F03665D962D840264C8A0248ACA7C7_verboseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_02F03665D962D840264C8A0248ACA7C7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Managed Investment Entities</link:label>
    <link:label id="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_02F03665D962D840264C8A0248ACA7C7_label_en-US" xlink:label="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_02F03665D962D840264C8A0248ACA7C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Variable Interest Entity, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:label="loc_us-gaap_ConsolidationVariableInterestEntityPolicy_02F03665D962D840264C8A0248ACA7C7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationVariableInterestEntityPolicy_02F03665D962D840264C8A0248ACA7C7" xlink:to="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_02F03665D962D840264C8A0248ACA7C7" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy_DBBDC4AECFE762AB4BF78A0248AC7F0D_verboseLabel_en-US" xlink:label="lab_us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy_DBBDC4AECFE762AB4BF78A0248AC7F0D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unpaid Losses and Loss Adjustment Expenses</link:label>
    <link:label id="lab_us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy_DBBDC4AECFE762AB4BF78A0248AC7F0D_label_en-US" xlink:label="lab_us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy_DBBDC4AECFE762AB4BF78A0248AC7F0D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unpaid Policy Claims and Claims Adjustment Expense, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy" xlink:label="loc_us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy_DBBDC4AECFE762AB4BF78A0248AC7F0D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy_DBBDC4AECFE762AB4BF78A0248AC7F0D" xlink:to="lab_us-gaap_UnpaidPolicyClaimsAndClaimsAdjustmentExpensePolicy_DBBDC4AECFE762AB4BF78A0248AC7F0D" xlink:type="arc" />
    <link:label id="lab_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D_verboseLabel_en-US" xlink:label="lab_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Annuity Benefits Accumulated</link:label>
    <link:label id="lab_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D_label_en-US" xlink:label="lab_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annuity Benefits Accumulated [Policy Text Block]</link:label>
    <link:label id="lab_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D_documentation_en-US" xlink:label="lab_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Describes an accounting policy related to an insurance entity's liability for future annuity benefits to be paid to or on behalf of annuity policyholders.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_AnnuityBenefitsAccumulatedPolicyTextBlock" xlink:label="loc_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D" xlink:to="lab_afg_AnnuityBenefitsAccumulatedPolicyTextBlock_5CFD63E4E9CC585B8C2D8A0248AC560D" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueRecognitionDeferredRevenue_D7D29AEA741799DA2A108A0248ACC0D9_verboseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionDeferredRevenue_D7D29AEA741799DA2A108A0248ACC0D9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unearned Revenue</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionDeferredRevenue_D7D29AEA741799DA2A108A0248ACC0D9_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionDeferredRevenue_D7D29AEA741799DA2A108A0248ACC0D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Deferred Revenue [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenueRecognitionDeferredRevenue" xlink:label="loc_us-gaap_RevenueRecognitionDeferredRevenue_D7D29AEA741799DA2A108A0248ACC0D9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionDeferredRevenue_D7D29AEA741799DA2A108A0248ACC0D9" xlink:to="lab_us-gaap_RevenueRecognitionDeferredRevenue_D7D29AEA741799DA2A108A0248ACC0D9" xlink:type="arc" />
    <link:label id="lab_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B_verboseLabel_en-US" xlink:label="lab_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Life, Accident and Health Reserves</link:label>
    <link:label id="lab_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B_label_en-US" xlink:label="lab_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life, Accident and Health Reserves [Policy Text Block]</link:label>
    <link:label id="lab_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B_documentation_en-US" xlink:label="lab_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Describes an accounting policy related to an insurance entity's liability for future life, accident and health benefits to be paid to or on behalf of policyholders.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_LifeAccidentAndHealthReservesPolicyTextBlock" xlink:label="loc_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B" xlink:to="lab_afg_LifeAccidentAndHealthReservesPolicyTextBlock_B28FB87EFDA7A22E2BB78A0248ACD43B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_81AAF277AEA973FF79F98A0248AC6462_terseLabel_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock_81AAF277AEA973FF79F98A0248AC6462" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs</link:label>
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_81AAF277AEA973FF79F98A0248AC6462_label_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock_81AAF277AEA973FF79F98A0248AC6462" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtPolicyTextBlock" xlink:label="loc_us-gaap_DebtPolicyTextBlock_81AAF277AEA973FF79F98A0248AC6462" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtPolicyTextBlock_81AAF277AEA973FF79F98A0248AC6462" xlink:to="lab_us-gaap_DebtPolicyTextBlock_81AAF277AEA973FF79F98A0248AC6462" xlink:type="arc" />
    <link:label id="lab_us-gaap_PolicyholderAccountsPolicy_AAEA9B99280404D92C788A0248AC5B21_verboseLabel_en-US" xlink:label="lab_us-gaap_PolicyholderAccountsPolicy_AAEA9B99280404D92C788A0248AC5B21" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Variable Annuity Assets and Liabilities</link:label>
    <link:label id="lab_us-gaap_PolicyholderAccountsPolicy_AAEA9B99280404D92C788A0248AC5B21_label_en-US" xlink:label="lab_us-gaap_PolicyholderAccountsPolicy_AAEA9B99280404D92C788A0248AC5B21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Policyholder Accounts, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PolicyholderAccountsPolicy" xlink:label="loc_us-gaap_PolicyholderAccountsPolicy_AAEA9B99280404D92C788A0248AC5B21" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PolicyholderAccountsPolicy_AAEA9B99280404D92C788A0248AC5B21" xlink:to="lab_us-gaap_PolicyholderAccountsPolicy_AAEA9B99280404D92C788A0248AC5B21" xlink:type="arc" />
    <link:label id="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_0A32B751AE93AB637C8A8A0248ADAC86_verboseLabel_en-US" xlink:label="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_0A32B751AE93AB637C8A8A0248ADAC86" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Premium Recognition</link:label>
    <link:label id="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_0A32B751AE93AB637C8A8A0248ADAC86_label_en-US" xlink:label="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_0A32B751AE93AB637C8A8A0248ADAC86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insurance Premiums Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InsurancePremiumsRevenueRecognitionPolicy" xlink:label="loc_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_0A32B751AE93AB637C8A8A0248ADAC86" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_0A32B751AE93AB637C8A8A0248ADAC86" xlink:to="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_0A32B751AE93AB637C8A8A0248ADAC86" xlink:type="arc" />
    <link:label id="lab_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673_verboseLabel_en-US" xlink:label="lab_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests</link:label>
    <link:label id="lab_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673_label_en-US" xlink:label="lab_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests [Policy Text Block]</link:label>
    <link:label id="lab_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673_documentation_en-US" xlink:label="lab_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Describes an entity's accounting policy for determining noncontrolling interests.</link:label>
    <link:loc xlink:href="afg-20170630.xsd#afg_NoncontrollingInterestsPolicyTextBlock" xlink:label="loc_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673" xlink:to="lab_afg_NoncontrollingInterestsPolicyTextBlock_A5E7FE6D58C12E2777EC8A0248ADE673" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_C22593CBC32C95FF5F3C8A0248AD7056_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_C22593CBC32C95FF5F3C8A0248AD7056" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_C22593CBC32C95FF5F3C8A0248AD7056_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_C22593CBC32C95FF5F3C8A0248AD7056" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock_C22593CBC32C95FF5F3C8A0248AD7056" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock_C22593CBC32C95FF5F3C8A0248AD7056" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock_C22593CBC32C95FF5F3C8A0248AD7056" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_2C7DEA25C0373789D9148A0248ADBF0B_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_2C7DEA25C0373789D9148A0248ADBF0B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_2C7DEA25C0373789D9148A0248ADBF0B_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_2C7DEA25C0373789D9148A0248ADBF0B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_2C7DEA25C0373789D9148A0248ADBF0B" xlink:type="locator" />
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    <link:label id="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_49B12BA69002532BECA08A0248AD73F2_verboseLabel_en-US" xlink:label="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_49B12BA69002532BECA08A0248AD73F2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Benefit Plans</link:label>
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