<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
American Financial Corporation 10-Q for the three months ended March 31,
1998 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                         203,303
<SECURITIES>                                11,624,628<F1>
<RECEIVABLES>                                  714,286
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              15,995,222
<CURRENT-LIABILITIES>                                0
<BONDS>                                        499,986
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         9,625
<OTHER-SE>                                   1,462,155
<TOTAL-LIABILITY-AND-EQUITY>                15,995,222
<SALES>                                              0
<TOTAL-REVENUES>                             1,016,663
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                76,699
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              17,031
<INCOME-PRETAX>                                108,146
<INCOME-TAX>                                    41,736
<INCOME-CONTINUING>                             66,410
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  (685)
<CHANGES>                                            0
<NET-INCOME>                                   $65,725
<EPS-PRIMARY>                                        0<F2>
<EPS-DILUTED>                                        0<F2>
<FN>
<F1>Included an investment in investee of $221 million.
<F2>Not applicable since all common shares are owned by American
    Financial Group, Inc.
</FN>