<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
American Financial Corporation 10-Q for the six months ended June 30,
1998 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                         274,984
<SECURITIES>                                11,648,155<F1>
<RECEIVABLES>                                  729,577
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              16,164,475
<CURRENT-LIABILITIES>                                0
<BONDS>                                        549,857
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     72,154
<COMMON>                                         9,625
<OTHER-SE>                                   1,412,167
<TOTAL-LIABILITY-AND-EQUITY>                16,164,475
<SALES>                                              0
<TOTAL-REVENUES>                             2,054,795
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               159,832
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              35,054
<INCOME-PRETAX>                                173,405
<INCOME-TAX>                                    67,409
<INCOME-CONTINUING>                            105,996
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  (721)
<CHANGES>                                            0
<NET-INCOME>                                   105,275
<EPS-PRIMARY>                                        0<F2>
<EPS-DILUTED>                                        0<F2>
<FN>
<F1>Includes an investment in investee of $240 million.
<F2>Not applicable since all common shares are owned by American Financial
    Group, Inc.
</FN>