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                                                                   Exhibit 23.4



                 CONSENT OF MORRIS, NICHOLS, ARSHT & TUNNELL


We hereby consent to the reference to our firm under the caption "Legal
Matters" in the Registration Statement (Form S-3) and related Prospectus of
American Financial Group, Inc. for the registration of $500,000,000 of its Debt
Securities and Common Stock and Preferred Securities of American Financial
Capital Trust II. In providing this consent, we do not thereby admit that we
are within the category of persons whose consent is required under the Section
7 of the Securities Act of 1933, as amended, or the rules and regulations of
the Securities and Exchange Commission promulgated thereunder.



                                        MORRIS, NICHOLS, ARSHT & TUNNELL

Cincinnati, Ohio
February 7, 1997


