Exhibit 21

AMERICAN FINANCIAL GROUP, INC.

SUBSIDIARIES OF THE REGISTRANT

The following is a list of subsidiaries of AFG at December 31, 2019. All corporations are subsidiaries of AFG and, if indented, subsidiaries of the company under which they are listed. The names of certain subsidiaries are omitted, as such subsidiaries in the aggregate would not constitute a significant subsidiary.

Name of Company		Incorporated		Percentage of Ownership
American Money Management Corporation		Ohio		100
American Real Estate Capital Company, LLC		Ohio		100
APU Holding Company		Ohio		100
American Premier Underwriters, Inc.		Pennsylvania		100
GAI Holding Bermuda Ltd.		Bermuda		77 (a)
GAI Indemnity, Ltd.		United Kingdom		100
Neon Capital Limited		United Kingdom		100
Neon Holdings (U.K.) Limited		United Kingdom		100
Lavenham Underwriting Limited		United Kingdom		100
Neon Service Company (U.K.) Limited		United Kingdom		100
Sampford Underwriting Limited		United Kingdom		100
Great American Financial Resources, Inc.		Delaware		100
Great American Life Insurance Company		Ohio		100
Annuity Investors Life Insurance Company		Ohio		100
Manhattan National Holding Corporation		Ohio		100
Manhattan National Life Insurance Company		Ohio		100
Great American Holding, Inc.		Ohio		100
ABA Insurance Services, Inc.		Ohio		100
Great American Holding (Europe) Limited		United Kingdom		100
Great American Europe Limited		United Kingdom		100
Great American International Insurance (EU) Designated Activity Company		Ireland		100
Great American International Insurance (UK) Limited		United Kingdom		100
Mid-Continent Casualty Company		Ohio		100
Mid-Continent Assurance Company		Ohio		100
Mid-Continent Excess and Surplus Insurance Company		Delaware		100
Oklahoma Surety Company		Ohio		100
National Interstate Corporation		Ohio		100
Hudson Indemnity, Ltd.		Cayman Islands		100
National Interstate Insurance Company		Ohio		100
National Interstate Insurance Company of Hawaii, Inc.		Ohio		100
Triumphe Casualty Company		Ohio		100
Vanliner Insurance Company		Missouri		100
Republic Indemnity Company of America		California		100
Republic Indemnity Company of California		California		100
Summit Holding Southeast, Inc.		Florida		100
Bridgefield Employers Insurance Company		Florida		100
Bridgefield Casualty Insurance Company		Florida		100
Great American Insurance Company		Ohio		100
American Empire Insurance Company		Ohio		100
American Empire Surplus Lines Insurance Company		Delaware		100
El Aguila, Compañia de Seguros, S.A. de C.V.		Mexico		100
GAI Warranty Company		Ohio		100
GAI Warranty Company of Florida		Florida		100
Great American Alliance Insurance Company		Ohio		100
Great American Assurance Company		Ohio		100
Great American Casualty Insurance Company		Ohio		100
Great American Contemporary Insurance Company		Ohio		100
Great American E&S Insurance Company		Delaware		100
Great American Fidelity Insurance Company		Delaware		100
Great American Insurance Company of New York		New York		100
Great American Protection Insurance Company		Ohio		100
Great American Security Insurance Company		Ohio		100
Great American Spirit Insurance Company		Ohio		100
Professional Risk Brokers, Inc.		Illinois		100
Helium Holdings Limited		Bermuda		100
Neon Employee Ownership LLC		Delaware		23.35 (b)
GAI Australia Pty Ltd.		Australia		100 (c)

(a) AFG directly owns 69.99% of GAI Holding Bermuda Ltd. and the remaining 30.01% is owned by GAI Australia Pty Ltd. (see footnote C below).

(b) AFG's 100%-owned subsidiary, Helium Holdings Limited, owns 23.35% (but the majority of the voting interest) of Neon Employee Ownership LLC ("NEO"). The remaining 76.65% is owned by the management of Neon Capital Limited.

(c) NEO owns 100% of the common stock of GAI Australia Pty Ltd. Accordingly, the noncontrolling shareholders of NEO indirectly own approximately 23% of GAI Holding Bermuda (76.65% of NEO multiplied by the 30.01% of GAI Holding Bermuda owned by GAI Australia).

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