March 13, 2009  
ASBESTOS LITIGATION: American Fin'l. Reserves $398.7Mil in 2008

American Financial Group, Inc.'s asbestos and environmental
reserves were US$398.7 million, net of insurance receivable, at
the end of 2008, compared with US$422.8 million, net of
insurance receivable, at the end of 2007.

The Company's property and casualty group's A&E reserves were
US$405.9 million, net of reinsurance recoverable. (Class Action
Reporter, Dec. 5, 2008)

The Company's gross A&E reserves were US$466 million at the end
of 2008, compared with US$486.4 million at the end of 2007.

At Dec. 31, 2008, the Company's three year survival ratio was
9.7 times average paid losses for the asbestos reserves and 9.3
times average paid losses for the total A&E reserves.

Excluding amounts associated with the settlements of asbestos-
related coverage litigation for A.P. Green Industries and
another large claim, the Company's three year survival ratio was
8.2 and 8.1 times paid losses for the asbestos reserves and
total A&E reserves, respectively.

The Company tracks its A&E claims by policyholder. In 2008, the
Company had 108 asbestos policyholders with no payments and had
83 asbestos policyholders with payments. In 2007, the Company
had 83 asbestos policyholders with no payments and had 115
policyholders with payments.

Amounts paid (net of amounts received from reinsurers) for A&E
claims, including loss adjustment expenses, were US$2.6 million
in 2008 and US$46.9 million in 2007.

Headquartered in Cincinnati, Ohio, American Financial Group,
Inc. engages in property and casualty insurance, focusing on
specialized commercial products for businesses, and in the sale
of traditional fixed, indexed and variable annuities and a
variety of supplemental insurance products.
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