Item 1.01 Entry into a Material Definitive Agreement.

On December 5, 2012, American Financial Group, Inc. (the "Registrant") entered into a Credit Agreement with the Bank of America, N.A., as Administrative Agent, and several lenders (the "Credit Agreement"). The Credit Agreement replaces the Registrant's $500 million bank line dated August 2, 2010. There were no outstanding borrowings under the prior bank line.

The Credit Agreement provides for the following:

• The Registrant may borrow up to $500 million.

• The maturity date of the Credit Agreement is August 2, 2013.

• The rate of interest payable on loans varies and will be based upon either the Federal Funds Rate plus an applicable margin, the Bank of America prime rate, or the London Interbank Offered Rate. In each case the applicable interest rate will also include a margin which varies based on the ratings assigned by Standard & Poor's or Moody's to the Registrant's debt ratings.

• Customary covenants including financial covenants regarding consolidated net worth and the ratio of consolidated total financing debt to total capitalization.

• Customary events of default, subject to materiality thresholds and grace periods.

This description of the Credit Agreement is qualified in its entirety by the Credit Agreement filed as Exhibit 10 to this Current Report on Form 8-K and incorporated by reference into this Item 1.01.

Item 1.02 Termination of a Material Definitive Agreement.

The information set forth above in Item 1.01 is incorporated by reference in this Item 1.02.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above in Item 1.01 is incorporated by reference in this Item 2.03.

Item 8.01 Other Events.

On December 6, 2012, the Registrant announced that its Board of Directors declared a special cash dividend in the amount of $0.25 per share of common stock, payable on December 24, 2012 to the common shareholders of record on December 17, 2012.

A copy of the press release announcing the special dividend is furnished as Exhibit 99 and incorporated by reference in this Item 8.01.

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Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10 Credit Agreement entered into among American Financial Group, Inc., the Bank of America, N.A., as Administrative Agent, and several lenders.

99 Press Release dated December 6, 2012

This Exhibit 99 is furnished pursuant to Item 8.01 and should not be deemed "filed" under the Securities Exchange Act of 1934.