<SEC-DOCUMENT>0000892251-20-000023.txt : 20200331
<SEC-HEADER>0000892251-20-000023.hdr.sgml : 20200331
<ACCEPTANCE-DATETIME>20200331130156
ACCESSION NUMBER:		0000892251-20-000023
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200331
DATE AS OF CHANGE:		20200331

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN FINANCIAL GROUP INC
		CENTRAL INDEX KEY:			0001042046
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				311544320
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-52601
		FILM NUMBER:		20760742

	BUSINESS ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5135792121

	MAIL ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FINANCIAL GROUP HOLDINGS INC
		DATE OF NAME CHANGE:	19970709

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINDNER CARL H III
		CENTRAL INDEX KEY:			0000942082
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		14TH FLOOR PROVIDENT TOWER
		STREET 2:		ONE EAST FOURTH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>carliiischedule13da10.htm
<DESCRIPTION>CARL H. LINDNER III SCHEDULE 13D AMENDMENT 10
<TEXT>
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    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION<br>
      WASHINGTON, D.C. 20549</div>
    <div><br>
    </div>
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    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SCHEDULE 13D</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">(Rule 13d-101)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT<br>
      TO 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-weight: bold;">Amendment No. 10</font><br>
      <br>
      <br>
      <u>American Financial Group, Inc.</u><br>
      (Name of Issuer)</div>
    <div style="text-align: center; font-size: 12pt;"><br>
      <br>
      <br>
      <br>
      <u>Common Stock, no par value</u></div>
    <div style="text-align: center; font-size: 12pt;">(Title of Class of Securities)</div>
    <div style="text-align: center; font-size: 12pt;"><br>
      <br>
      <br>
      <br>
      <u>025932 10 4</u><br>
      (CUSIP Number)</div>
    <div style="text-align: center; font-size: 12pt;"><br>
      <br>
      Karl J. Grafe, Esq.<br>
      301 East Fourth Street<br>
      Cincinnati, Ohio 45202<br>
      <u>(513)&#160; 579-2540</u><br>
      (Name, Address and Telephone Number of Person<br>
      Authorized to Receive Notices and Communications)</div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: center; font-size: 12pt;"><br>
      <br>
      <br>
      <br>
      <u>March 26, 2020</u><br>
      (Date of Event Which Requires Filing of this Statement)</div>
    <font style="font-size: 12pt;"> </font>
    <div><font style="font-size: 12pt;"><br>
      </font> </div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-indent: 36pt; font-size: 12pt;">If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4),
      check the following box [&#160;&#160;&#160;&#160;]</div>
    <font style="font-size: 12pt;"> </font>
    <div><font style="font-size: 12pt;"><br>
      </font> </div>
    <font style="font-size: 12pt;"> </font>
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      </font><br>
      <font style="font-size: 12pt;"><br>
      </font>Page 1 of 5<br>
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        <tr>
          <td style="width: 30.84%; vertical-align: top;" colspan="5">
            <div style="font-size: 12pt;">CUSIP No. 025932 10 4</div>
          </td>
          <td style="width: 37.16%; vertical-align: top;" colspan="2">&#160;</td>
          <td style="width: 32%; vertical-align: top;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.3%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify; font-size: 12pt;">&#160;1</div>
          </td>
          <td style="width: 93.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="7">
            <div style="text-align: justify;">NAME OF REPORTING PERSONS</div>
            <div style="text-align: justify;">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</div>
            <div style="text-align: justify;">Carl H. Lindner III</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.3%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify; font-size: 12pt;">&#160;2</div>
          </td>
          <td style="width: 46.8%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="5">
            <div style="text-align: justify;">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
            <div>&#160;</div>
          </td>
          <td style="width: 46.8%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: right; font-size: 12pt;">(a)&#160; &#9744;</div>
            <div style="text-align: right; font-size: 12pt;">(b)&#160; &#9744;</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.3%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify; font-size: 12pt;">&#160;3</div>
          </td>
          <td style="width: 93.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="7">
            <div style="text-align: justify;">SEC USE ONLY</div>
            <div style="text-align: justify;"> &#160;</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.3%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify; font-size: 12pt;">&#160;4</div>
          </td>
          <td style="width: 93.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="7">
            <div style="text-align: justify;">SOURCE OF FUNDS*</div>
            <div style="text-align: justify;">N/A</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.3%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify; font-size: 12pt;">&#160;5</div>
          </td>
          <td style="width: 93.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="7">
            <div style="text-align: justify;">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT</div>
            <div style="text-align: justify;">TO ITEM 2(d) or 2(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#9744;</div>
            <div>&#160;</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.3%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify; font-size: 12pt;">&#160;6</div>
          </td>
          <td style="width: 93.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="7">
            <div style="text-align: justify;">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
            <div>&#160;</div>
            <div style="text-align: justify;">U.S. Citizen</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 21.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" rowspan="4" colspan="3">
            <div>&#160;</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div style="text-align: center;">NUMBER OF</div>
            <div style="text-align: center;">SHARES</div>
            <div style="text-align: center;">BENEFICIALLY</div>
            <div style="text-align: center;">OWNED BY</div>
            <div style="text-align: center;">EACH</div>
            <div style="text-align: center;">REPORTING</div>
            <div style="text-align: center;">PERSON WITH</div>
            <div>&#160;</div>
          </td>
          <td style="width: 6.43%; vertical-align: top;">
            <div style="text-align: justify; font-size: 12pt;">&#160;7</div>
          </td>
          <td style="width: 71.87%; vertical-align: top; font-size: 12pt;" colspan="4">
            <div style="text-align: justify;">SOLE VOTING POWER</div>
            <div>4,226,492</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 0.13%; vertical-align: top;">
            <div style="text-align: justify; font-size: 12pt;">&#160;8</div>
          </td>
          <td style="width: 46.67%; vertical-align: top; font-size: 12pt;" colspan="4">
            <div style="text-align: justify;">SHARED VOTING POWER</div>
            <div style="text-align: justify;">385,872</div>
          </td>
          <td style="width: 14.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 0.13%; vertical-align: top;">
            <div style="text-align: justify; font-size: 12pt;">&#160;9</div>
          </td>
          <td style="width: 46.67%; vertical-align: top; font-size: 12pt;" colspan="4">
            <div style="text-align: justify;">SOLE DISPOSITIVE POWER</div>
            <div>4,064,972</div>
          </td>
          <td style="width: 14.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 0.13%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify; font-size: 12pt;">10</div>
          </td>
          <td style="width: 46.67%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="4">
            <div style="text-align: justify;">SHARED DISPOSITIVE POWER</div>
            <div style="text-align: justify; font-size: 12pt;">385,872</div>
          </td>
          <td style="width: 14.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.43%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: justify; font-size: 12pt;">11</div>
          </td>
          <td style="width: 93.47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="6">
            <div style="text-align: justify;">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
            <div>&#160;</div>
            <div>5,450,844&#160; &#8211; See Item 5</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.43%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: justify; font-size: 12pt;">12</div>
          </td>
          <td style="width: 93.47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="6">
            <div style="text-align: justify;">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES</div>
            <div style="text-align: justify;">CERTAIN SHARES* &#160; &#160; &#160; &#160; &#160; &#160;&#160; &#9744;</div>
            <div style="text-align: justify;"><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; width: 144pt;"></font></div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.43%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: justify; font-size: 12pt;">13</div>
          </td>
          <td style="width: 93.47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="6">
            <div style="text-align: justify;">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
            <div>6.1%</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.43%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: justify; font-size: 12pt;">14</div>
          </td>
          <td style="width: 93.47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;" colspan="6">
            <div style="text-align: justify;">TYPE OF REPORTING PERSON*</div>
            <div style="text-align: justify;">IN</div>
          </td>
          <td style="width: 0.1%; vertical-align: top;">&#160;</td>
        </tr>

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    <div><br>
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    <div style="text-align: center;">Page 2 of 5<br>
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    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">This Amendment No. 10 amends and restates the Schedule 13D originally filed on May 11, 2004, as amended through Amendment No. 9 filed on April 25, 2019 (&#8220;Amendment No. 9&#8221;)..</div>
    <div style="margin-bottom: 12pt;"><font style="font-size: 12pt; font-weight: bold;">Item 1.</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="font-size: 12pt; font-weight: bold;">Security
        and Issuer.</font></div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">This Schedule 13D is filed on behalf of Carl H. Lindner III (the &#8220;Reporting Person&#8221;) with respect to the relative to the no par value Common Stock (the &#8220;Common Stock") of American
      Financial Group, Inc. (&#8220;AFG&#8221;).</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The principal executive offices of American Financial are located at 301 East Fourth Street, Cincinnati, Ohio 45202.</div>
    <div style="margin-bottom: 12pt;"><font style="font-size: 12pt; font-weight: bold;">Item 2.</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="font-size: 12pt; font-weight: bold;">Identity
        and Background.</font></div>
    <div style="margin-left: 36pt; font-size: 12pt;">(a) Carl H. Lindner III<br>
    </div>
    <div style="margin-left: 36pt; font-size: 12pt;">(b) 301 East Fourth Street, Cincinnati, Ohio 45202</div>
    <div style="margin-left: 36pt; font-size: 12pt;">(c) Individual Investor</div>
    <div style="margin-left: 36pt; font-size: 12pt;">(d) None</div>
    <div style="margin-left: 36pt; font-size: 12pt;">(e) None</div>
    <div style="margin-left: 36pt; margin-bottom: 12pt; font-size: 12pt;">(f) United States Citizen</div>
    <div style="margin-bottom: 12pt;"><font style="font-size: 12pt; font-weight: bold;">Item 3.</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="font-size: 12pt; font-weight: bold;">Source
        and Amount of Funds or Other Consideration.</font></div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Not applicable.</div>
    <div style="margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">Item 4.&#160;&#160;&#160;&#160;&#160;Purpose of Transaction.</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The Reporting Person is the Co-Chief Executive Officer and Co-President of AFG and also serves on the Board of Directors.&#160; In these capacities, Mr. Lindner has responsibility for
      AFG&#8217;s management and strategic direction.&#160; Additionally, in his capacity as a shareholder of the Company, Mr. Lindner reviews his investment in the Company on a continuous basis. Mr. Lindner may from time to time acquire additional shares of Common
      Stock of the Company or dispose of a portion of the shares of Common Stock that he beneficially owns.&#160; Any transactions that Mr. Lindner may pursue may be made at any time and from time to time without prior notice and will depend upon a variety of
      factors, including, without limitation, other investment and business opportunities available to Mr. Lindner, tax and estate planning considerations and other factors.</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Other than as described above in this Item 4, Mr. Lindner has no present plan or proposal relating to or that would result in any of the transactions or changes listed in Items 4(a)
      through 4(j) of Schedule 13D.</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;"> <br>
    </div>
    <div style="text-align: center; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">Page 3 of 5<br>
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    <div style="margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">Item 5.&#160;&#160;&#160;&#160;&#160;Interest in Securities of the Issuer.</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">As of March 28, 2020, the Reporting Person beneficially owned 5,450,844 shares (or approximately 6.1% of the outstanding shares) of Common Stock, which amount includes 2,623,593
      shares held in a trust over which he holds voting and dispositive power; 343,162 shares held by a trust over which his spouse has voting and dispositive power; 838,480 shares held in a limited liability company over which he holds dispositive power;
      355,585 shares held by a charitable foundation over which he shares voting and dispositive power; 3,984 shares held in trusts for family members over which he holds voting and dispositive power; 136,040 shares held in two charitable foundations over
      which he and/or his spouse have or share voting and dispositive power; 1,000,000 shares held in a trust over which he holds voting power; and 150,000 shares issuable upon exercise of employee stock options within 60 days of the date of filing.</div>
    <div style="text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">Within the 60-day period preceding the date of filing of this Amendment, the Reporting Person had engaged in the following transactions.<br>
      </font><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="zd9f0bdbfd25b4c5687dcb75ce46cf7ca" style="width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 24.95%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">Date</div>
          </td>
          <td style="width: 28.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">Transaction</div>
          </td>
          <td style="width: 23.12%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">Number of Shares</div>
          </td>
          <td style="width: 23.7%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">Price</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.95%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">2/14/2020</div>
          </td>
          <td style="width: 28.24%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">Gifts</div>
          </td>
          <td style="width: 23.12%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">13,266</div>
          </td>
          <td style="width: 23.7%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.95%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">2/23/2020</div>
          </td>
          <td style="width: 28.24%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">Disposition<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td style="width: 23.12%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">(8,756)</div>
          </td>
          <td style="width: 23.7%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">$110.80/sh</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.95%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">2/25/2020</div>
          </td>
          <td style="width: 28.24%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">Acquisition<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
          </td>
          <td style="width: 23.12%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">14,389</div>
          </td>
          <td style="width: 23.7%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.95%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">3/26/2020</div>
          </td>
          <td style="width: 28.24%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">(3)</div>
          </td>
          <td style="width: 23.12%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">1,000,000</div>
          </td>
          <td style="width: 23.7%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 12pt;">n/a</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div style="margin-left: 18pt; margin-bottom: 6pt; font-size: 12pt;">(1)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="margin-bottom: 6pt; font-size: 12pt;">Represents shares withheld by AFG to satisfy taxes payable in connection with the vesting of previously-awarded shares of restricted stock.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zc3c4d03c834646b6ad4ec88ee17ef541" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 6pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div style="margin-left: 18pt; margin-bottom: 6pt; font-size: 12pt;">(2)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="margin-bottom: 6pt; font-size: 12pt;">Represents a grant of restricted stock pursuant to AFG&#8217;s stock incentive plan.&#160; All shares cliff-vest four years after date of grant.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div style="margin-left: 18pt; font-size: 12pt;">(3)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-size: 12pt;">On March 26, 2020, the Reporting Person obtained voting power over 1,000,000 shares of Common Stock held in a trust.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt;">
      <div>
        <table cellspacing="0" cellpadding="0" id="zdd230f55cb0a466b9c9a049fb034cbc2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <td style="width: 54pt; vertical-align: top; align: right; font-size: 12pt; font-weight: bold;">Item 6.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-size: 12pt; font-weight: bold;">Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Other than the Power of Attorney filed as part of Item 7, the Reporting Person has no contracts, arrangements, understandings or relationships with respect to
      the Common Stock.</div>
    <div style="text-align: justify; margin-bottom: 12pt;">
      <div>
        <table cellspacing="0" cellpadding="0" id="z1e8f4747d27f4665ad1430de6df8c228" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <td style="width: 54pt; vertical-align: top; align: right; font-size: 12pt; font-weight: bold;">Item 7.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-size: 12pt; font-weight: bold;">Material to be Files as Exhibits.</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt;">
      <div>
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            <tr>
              <td style="width: 54pt; vertical-align: top; align: right; font-size: 12pt;">99.1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-size: 12pt;">Power of Attorney</div>
                <div style="font-size: 12pt;"> <br>
                </div>
              </td>
            </tr>

        </table>
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    </div>
    <div><br>
    </div>
    <div style="text-align: center;">Page 4 of 5<br>
    </div>
    <div style="text-align: center;"> <br>
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    <div style="text-indent: 36pt;"><font style="font-size: 12pt;">After reasonable inquiry and to the best knowledge and belief of the undersigned, it is hereby certified that the information set forth in this statement is true, complete and correct.<br>
        <br>
      </font></div>
    <div style="text-indent: 36pt;"><font style="font-size: 12pt;">Dated:&#160; March 31, 2020<br>
      </font><br>
    </div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-size: 12pt;"><u>/s/ Karl J. Grafe&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></div>
            <div style="font-size: 12pt;"><u></u>Karl J. Grafe, as Attorney-in-Fact for</div>
            <div style="font-size: 12pt;">Carl H. Lindner III</div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>poacarliii.htm
<DESCRIPTION>POWER OF ATTORNEY
<TEXT>
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    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">EXHIBIT 99.1</div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">POWER OF ATTORNEY</div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-bottom: 12pt; font-size: 12pt;">Know by all these presents, that the undersigned, Carl H. Lindner III, hereby makes, constitutes and appoints each of Karl J. Grafe and Mark A. Weiss, the attorneys-in-fact (the &#8220;Attorneys-In-Fact&#8221;) of
      the undersigned, with full power and authority, including without limitation the power of substitution and resubstitution, acting together or separately, in the name of and for and on behalf of him:</div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-left: 36pt; margin-bottom: 12pt; font-size: 12pt;">(a) For the purpose of complying with the requirements of the Securities Act of 1933, as amended, and the rules of the Securities and Exchange Commission (the &#8220;Commission&#8221;)
      promulgated thereunder (collectively, the &#8220;Securities Act&#8221;), and the Securities Exchange Act of 1934, as amended, and the rules of the Commission promulgated thereunder (collectively, the &#8220;Exchange Act&#8221;), to prepare or cause to be prepared, execute,
      sign and file with the Commission and all applicable securities exchanges on behalf of the undersigned all statements, reports and other filings (including without limitation any amendments thereto) required to be filed by the undersigned under the
      Securities Act or the Exchange Act, including without limitation all Schedules 13D, Schedules 13G, Schedules 13E-3, and Schedules 14D-1 with respect to the securities of American Financial Group, Inc. (the &#8220;Company&#8221;); and</div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-left: 36pt; margin-bottom: 12pt; font-size: 12pt;">(b) To make, execute, acknowledge, and deliver such other documents, letters, and other writings, including communications to the Commission, and in general to do all things and to
      take all actions, which the Attorneys-In-Fact in his or her sole discretion may consider necessary or proper in connection with or to carry out the objective of complying with the Securities Act and the Exchange Act, as fully as could the undersigned
      if personally present and acting. The Attorneys-In-Fact are hereby empowered to determine in his/her sole discretion the time or times when, purpose for and manner in which any power therein conferred upon him or her shall be exercised, and the
      conditions, provisions, or other contents or any report, instrument or other document which may be executed by him or her pursuant hereto.</div>
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    <div style="margin-bottom: 8pt;"><font style="font-size: 12pt;"><br>
      </font> </div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-bottom: 12pt;"><font style="font-size: 12pt;"><br>
      </font> </div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-bottom: 12pt; font-size: 12pt;">The undersigned hereby ratifies all that the Attorneys-In-Fact or his or her substitute or substitutes shall do under the authority of this Power of Attorney.</div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-bottom: 12pt; font-size: 12pt;">The Attorneys-In-Fact shall have full power to make and substitute any other Attorneys-In-Fact in his or her place and stead. The term &#8220;Attorneys-In-Fact&#8221; shall include the respective substitutes of
      any Attorneys-In-Fact.</div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-bottom: 12pt; font-size: 12pt;">The undersigned acknowledges that the foregoing Attorneys-In-Fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned&#8217;s
      responsibilities to comply with the Securities Act or the Exchange Act.</div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-bottom: 12pt; font-size: 12pt;">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to make filings with the Securities and Exchange Commission with respect to the undersigned&#8217;s
      holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing Attorneys-In-Fact.</div>
    <font style="font-size: 12pt;"> </font>
    <div style="margin-bottom: 12pt; font-size: 12pt;">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 31<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup>&#160; day of March, 2020.</div>
    <font style="font-size: 12pt;"> </font>
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          <td style="width: 50%; vertical-align: top; font-size: 12pt;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-size: 12pt;"><u>/s/ Carl H. Lindner III&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
              </u></div>
            <div style="font-size: 12pt;">Carl H. Lindner III</div>
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