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    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_7D2143984203686C954EE6723FADE26D_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_7D2143984203686C954EE6723FADE26D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
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    <link:label id="lab_afg_PercentageOfInvestmentOfMostSubordinateDebtTrancheOfVariableInterestEntityMaximum_4E29920B5464AA27F227E6723FADA5A0_verboseLabel_en-US" xlink:label="lab_afg_PercentageOfInvestmentOfMostSubordinateDebtTrancheOfVariableInterestEntityMaximum_4E29920B5464AA27F227E6723FADA5A0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percentage of investment of most subordinate debt tranche, Maximum</link:label>
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    <link:label id="lab_afg_NumberOfCollateralizedLoanObligationEntities_29C376334F96573487B9E6723FAD8D84_verboseLabel_en-US" xlink:label="lab_afg_NumberOfCollateralizedLoanObligationEntities_29C376334F96573487B9E6723FAD8D84" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of collateralized loan obligation entities</link:label>
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    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_6891366139F77BA2AB78E6723FAE077B_verboseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_6891366139F77BA2AB78E6723FAE077B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Aggregate fair value of investment in collateralized loan obligations</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_6891366139F77BA2AB78E6723FAE077B_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_6891366139F77BA2AB78E6723FAE077B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount</link:label>
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    <link:label id="lab_afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate_5BDB27B53C87A3E099EDE6723FAE21C5_terseLabel_en-US" xlink:label="lab_afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate_5BDB27B53C87A3E099EDE6723FAE21C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face amount of managed investment entities liabilities purchased by subsidiaries after issuance date</link:label>
    <link:label id="lab_afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate_5BDB27B53C87A3E099EDE6723FAE21C5_label_en-US" xlink:label="lab_afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate_5BDB27B53C87A3E099EDE6723FAE21C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Face Amount Of Managed Investment Entities Liabilities Purchased By Subsidiaries After Issuance Date</link:label>
    <link:label id="lab_afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate_5BDB27B53C87A3E099EDE6723FAE21C5_documentation_en-US" xlink:label="lab_afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate_5BDB27B53C87A3E099EDE6723FAE21C5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Face amount of managed investment entities liabilities purchased by subsidiaries after issuance date.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate" xlink:label="loc_afg_FaceAmountOfManagedInvestmentEntitiesLiabilitiesPurchasedBySubsidiariesAfterIssuanceDate_5BDB27B53C87A3E099EDE6723FAE21C5" xlink:type="locator" />
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    <link:label id="lab_afg_AmountPaidBySubsidiariesToPurchaseManagedInvestmentEntitiesLiabilitiesAfterIssuanceDate._3DCFE1C0475903BCC3FEE6723FAE442A_terseLabel_en-US" xlink:label="lab_afg_AmountPaidBySubsidiariesToPurchaseManagedInvestmentEntitiesLiabilitiesAfterIssuanceDate._3DCFE1C0475903BCC3FEE6723FAE442A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount paid by subsidiaries to purchase managed investment entities liabilities after issuance date</link:label>
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    <link:label id="lab_afg_AmountPaidBySubsidiariesToPurchaseManagedInvestmentEntitiesLiabilitiesAfterIssuanceDate._3DCFE1C0475903BCC3FEE6723FAE442A_documentation_en-US" xlink:label="lab_afg_AmountPaidBySubsidiariesToPurchaseManagedInvestmentEntitiesLiabilitiesAfterIssuanceDate._3DCFE1C0475903BCC3FEE6723FAE442A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount paid by subsidiaries to purchase managed investment entities liabilities after issuance date.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_AmountPaidBySubsidiariesToPurchaseManagedInvestmentEntitiesLiabilitiesAfterIssuanceDate." xlink:label="loc_afg_AmountPaidBySubsidiariesToPurchaseManagedInvestmentEntitiesLiabilitiesAfterIssuanceDate._3DCFE1C0475903BCC3FEE6723FAE442A" xlink:type="locator" />
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    <link:label id="lab_afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities_2040DF66A02B4B48E4F2E6723FAE612D_verboseLabel_en-US" xlink:label="lab_afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities_2040DF66A02B4B48E4F2E6723FAE612D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds received by subsidiaries related to sales and redemptions of managed investment entities liabilities</link:label>
    <link:label id="lab_afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities_2040DF66A02B4B48E4F2E6723FAE612D_label_en-US" xlink:label="lab_afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities_2040DF66A02B4B48E4F2E6723FAE612D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds Received By Subsidiaries Related to Sales and Redemptions of Managed Investment Entities Liabilities</link:label>
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    <link:loc xlink:href="afg-20200331.xsd#afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities" xlink:label="loc_afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities_2040DF66A02B4B48E4F2E6723FAE612D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities_2040DF66A02B4B48E4F2E6723FAE612D" xlink:to="lab_afg_ProceedsReceivedBySubsidiariesRelatedtoSalesandRedemptionsofManagedInvestmentEntitiesLiabilities_2040DF66A02B4B48E4F2E6723FAE612D" xlink:type="arc" />
    <link:label id="lab_afg_DifferenceBetweenAggregateUnpaidPrincipalBalanceAndFairValueOfVariableInterestEntityInvestments_E155E91B72DC81EB2CB4E6723FAF27DA_verboseLabel_en-US" xlink:label="lab_afg_DifferenceBetweenAggregateUnpaidPrincipalBalanceAndFairValueOfVariableInterestEntityInvestments_E155E91B72DC81EB2CB4E6723FAF27DA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Difference between aggregate unpaid principal balance and fair value of CLOs' fixed maturity investments</link:label>
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    <link:loc xlink:href="afg-20200331.xsd#afg_DifferenceBetweenAggregateUnpaidPrincipalBalanceAndFairValueOfVariableInterestEntityInvestments" xlink:label="loc_afg_DifferenceBetweenAggregateUnpaidPrincipalBalanceAndFairValueOfVariableInterestEntityInvestments_E155E91B72DC81EB2CB4E6723FAF27DA" xlink:type="locator" />
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    <link:label id="lab_afg_DifferenceBetweenAggregateUnpaidPrincipalBalanceAndFairValueOfVariableInterestEntityDebt_65043AD20922688C2AC8E6723FAF1EF3_verboseLabel_en-US" xlink:label="lab_afg_DifferenceBetweenAggregateUnpaidPrincipalBalanceAndFairValueOfVariableInterestEntityDebt_65043AD20922688C2AC8E6723FAF1EF3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Difference between aggregate unpaid principal balance and carrying value of CLOs' debt</link:label>
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    <link:label id="lab_us-gaap_SubordinatedDebtMember_ED294DCE68D8DB208600EA9B48E6AAAF_label_en-US" xlink:label="lab_us-gaap_SubordinatedDebtMember_ED294DCE68D8DB208600EA9B48E6AAAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subordinated Debt [Member]</link:label>
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    <link:label id="lab_afg_SeniorNotesDueInJune2047Member_8FFA75CB9AAD1B50A657EA9B48E760EF_terseLabel_en-US" xlink:label="lab_afg_SeniorNotesDueInJune2047Member_8FFA75CB9AAD1B50A657EA9B48E760EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4.50% Senior Notes due June 2047</link:label>
    <link:label id="lab_afg_SeniorNotesDueInJune2047Member_8FFA75CB9AAD1B50A657EA9B48E760EF_label_en-US" xlink:label="lab_afg_SeniorNotesDueInJune2047Member_8FFA75CB9AAD1B50A657EA9B48E760EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes Due In June 2047 [Member]</link:label>
    <link:label id="lab_afg_SeniorNotesDueInJune2047Member_8FFA75CB9AAD1B50A657EA9B48E760EF_documentation_en-US" xlink:label="lab_afg_SeniorNotesDueInJune2047Member_8FFA75CB9AAD1B50A657EA9B48E760EF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Notes due in June 2047.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_SeniorNotesDueInJune2047Member" xlink:label="loc_afg_SeniorNotesDueInJune2047Member_8FFA75CB9AAD1B50A657EA9B48E760EF" xlink:type="locator" />
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    <link:label id="lab_afg_SeniorNotesDueInAugust2026Member_5EEF560E03937A8D4855EA9B48E7EE61_verboseLabel_en-US" xlink:label="lab_afg_SeniorNotesDueInAugust2026Member_5EEF560E03937A8D4855EA9B48E7EE61" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">3.50% Senior Notes due August 2026</link:label>
    <link:label id="lab_afg_SeniorNotesDueInAugust2026Member_5EEF560E03937A8D4855EA9B48E7EE61_label_en-US" xlink:label="lab_afg_SeniorNotesDueInAugust2026Member_5EEF560E03937A8D4855EA9B48E7EE61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes Due In August 2026 [Member]</link:label>
    <link:label id="lab_afg_SeniorNotesDueInAugust2026Member_5EEF560E03937A8D4855EA9B48E7EE61_documentation_en-US" xlink:label="lab_afg_SeniorNotesDueInAugust2026Member_5EEF560E03937A8D4855EA9B48E7EE61" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Notes due in August 2026.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_SeniorNotesDueInAugust2026Member" xlink:label="loc_afg_SeniorNotesDueInAugust2026Member_5EEF560E03937A8D4855EA9B48E7EE61" xlink:type="locator" />
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    <link:label id="lab_afg_SubordinatedDebenturesdueinDecember2059Member_AD05050BE9CD101868FDEA9B48E7EAAB_label_en-US" xlink:label="lab_afg_SubordinatedDebenturesdueinDecember2059Member_AD05050BE9CD101868FDEA9B48E7EAAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subordinated Debentures due in December 2059 [Member]</link:label>
    <link:label id="lab_afg_SubordinatedDebenturesdueinDecember2059Member_AD05050BE9CD101868FDEA9B48E7EAAB_documentation_en-US" xlink:label="lab_afg_SubordinatedDebenturesdueinDecember2059Member_AD05050BE9CD101868FDEA9B48E7EAAB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subordinated Debentures due in December 2059</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_SubordinatedDebenturesdueinDecember2059Member" xlink:label="loc_afg_SubordinatedDebenturesdueinDecember2059Member_AD05050BE9CD101868FDEA9B48E7EAAB" xlink:type="locator" />
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    <link:label id="lab_afg_SubordinatedDebenturesDueInNovember2055Member_EDE479B40AACA068C6BCEA9B48E82E2A_documentation_en-US" xlink:label="lab_afg_SubordinatedDebenturesDueInNovember2055Member_EDE479B40AACA068C6BCEA9B48E82E2A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subordinated Debentures due in November 2055.</link:label>
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    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_3C82BD4D9BF5B853FB19DFC165450023_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsAmortizedCost_3C82BD4D9BF5B853FB19DFC165450023" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Available for sale securities debt maturities excluding ABS and MBS amortized cost.</link:label>
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    <link:label id="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost_CC548E328D0031FBC801DFC16545FDCC_verboseLabel_en-US" xlink:label="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost_CC548E328D0031FBC801DFC16545FDCC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations and other ABS (average life of approximately 4-1/2 years)</link:label>
    <link:label id="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost_CC548E328D0031FBC801DFC16545FDCC_label_en-US" xlink:label="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost_CC548E328D0031FBC801DFC16545FDCC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations and Other Available for Sale Securities ABS Amortized Cost</link:label>
    <link:label id="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost_CC548E328D0031FBC801DFC16545FDCC_documentation_en-US" xlink:label="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost_CC548E328D0031FBC801DFC16545FDCC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations and Other asset-backed securities, amortized cost.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost" xlink:label="loc_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSAmortizedCost_CC548E328D0031FBC801DFC16545FDCC" xlink:type="locator" />
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    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_6E952EDE5F3303FC4383DFC1654541EF_verboseLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_6E952EDE5F3303FC4383DFC1654541EF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">MBS (average life of approximately 3-1/2 years)</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_6E952EDE5F3303FC4383DFC1654541EF_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_6E952EDE5F3303FC4383DFC1654541EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available for Sale Securities MBS Amortized Cost</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_6E952EDE5F3303FC4383DFC1654541EF_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesMbsAmortizedCost_6E952EDE5F3303FC4383DFC1654541EF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage-backed securities, amortized cost.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_AvailableForSaleSecuritiesMbsAmortizedCost" xlink:label="loc_afg_AvailableForSaleSecuritiesMbsAmortizedCost_6E952EDE5F3303FC4383DFC1654541EF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_C9BD01FE00D159044B77DFC1654501B3_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_C9BD01FE00D159044B77DFC1654501B3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Amortized Cost</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_C9BD01FE00D159044B77DFC1654501B3_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_C9BD01FE00D159044B77DFC1654501B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Amortized Cost Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAmortizedCost_C9BD01FE00D159044B77DFC1654501B3" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_AA2FEAF453B44CBB90BDDFC165453C37_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_AA2FEAF453B44CBB90BDDFC165453C37" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_AA2FEAF453B44CBB90BDDFC165453C37" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_AA2FEAF453B44CBB90BDDFC165453C37" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_AA2FEAF453B44CBB90BDDFC165453C37" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E63FAAEC055E84249CFDDFC16545D5CA_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E63FAAEC055E84249CFDDFC16545D5CA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">One year or less</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E63FAAEC055E84249CFDDFC16545D5CA_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E63FAAEC055E84249CFDDFC16545D5CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E63FAAEC055E84249CFDDFC16545D5CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E63FAAEC055E84249CFDDFC16545D5CA" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E63FAAEC055E84249CFDDFC16545D5CA" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_2B443939F2A2578AF331DFC1654B9C93_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_2B443939F2A2578AF331DFC1654B9C93" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After one year through five years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_2B443939F2A2578AF331DFC1654B9C93_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_2B443939F2A2578AF331DFC1654B9C93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_2B443939F2A2578AF331DFC1654B9C93" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_2B443939F2A2578AF331DFC1654B9C93" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_2B443939F2A2578AF331DFC1654B9C93" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_F79D71A19F9E8FEF4F09DFC1654B0CE6_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_F79D71A19F9E8FEF4F09DFC1654B0CE6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After five years through ten years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_F79D71A19F9E8FEF4F09DFC1654B0CE6_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_F79D71A19F9E8FEF4F09DFC1654B0CE6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_F79D71A19F9E8FEF4F09DFC1654B0CE6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_F79D71A19F9E8FEF4F09DFC1654B0CE6" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_F79D71A19F9E8FEF4F09DFC1654B0CE6" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_9DF0676C8C939A553D28DFC1654B11E2_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_9DF0676C8C939A553D28DFC1654B11E2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">After ten years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_9DF0676C8C939A553D28DFC1654B11E2_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_9DF0676C8C939A553D28DFC1654B11E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_9DF0676C8C939A553D28DFC1654B11E2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_9DF0676C8C939A553D28DFC1654B11E2" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_9DF0676C8C939A553D28DFC1654B11E2" xlink:type="arc" />
    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF_totalLabel_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Fixed maturities fair value, Subtotal</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF_label_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities, Debt Maturities Excluding ABS and MBS, Fair Value</link:label>
    <link:label id="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF_documentation_en-US" xlink:label="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Available for sale securities debt maturities excluding ABS and MBS fair value.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue" xlink:label="loc_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF" xlink:to="lab_afg_AvailableForSaleSecuritiesDebtMaturitiesExcludingAbsAndMbsFairValue_34053E983D172339CF65DFC1654BA9BF" xlink:type="arc" />
    <link:label id="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68_verboseLabel_en-US" xlink:label="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations and other ABS (average life of approximately 4-1/2 years)</link:label>
    <link:label id="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68_label_en-US" xlink:label="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations and Other Available for Sale Securities ABS Fair Value</link:label>
    <link:label id="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68_documentation_en-US" xlink:label="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations and other Asset-backed securities, fair value.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue" xlink:label="loc_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68" xlink:to="lab_afg_CollateralizedLoanObligationsandOtherAvailableforSaleSecuritiesABSFairValue_782D3BDF3389DAE45E20DFC1654CFA68" xlink:type="arc" />
    <link:label id="lab_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_A2044818391F395A4C05DFC1654C5E89_verboseLabel_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_A2044818391F395A4C05DFC1654C5E89" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">MBS (average life of approximately 3-1/2 years)</link:label>
    <link:label id="lab_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_A2044818391F395A4C05DFC1654C5E89_label_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_A2044818391F395A4C05DFC1654C5E89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage-backed Securities Available-for-sale, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure" xlink:label="loc_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_A2044818391F395A4C05DFC1654C5E89" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_A2044818391F395A4C05DFC1654C5E89" xlink:to="lab_us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_A2044818391F395A4C05DFC1654C5E89" xlink:type="arc" />
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    <link:label id="lab_afg_FixedIndexedandVariableIndexedAnnuitiesEmbeddedDerivativeMajorityofFutureYearsMember_0026CF04AB5367C81673FFB26503751E_terseLabel_en-US" xlink:label="lab_afg_FixedIndexedandVariableIndexedAnnuitiesEmbeddedDerivativeMajorityofFutureYearsMember_0026CF04AB5367C81673FFB26503751E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed-indexed and variable-indexed annuities (embedded derivative), majority of future years</link:label>
    <link:label id="lab_afg_FixedIndexedandVariableIndexedAnnuitiesEmbeddedDerivativeMajorityofFutureYearsMember_0026CF04AB5367C81673FFB26503751E_label_en-US" xlink:label="lab_afg_FixedIndexedandVariableIndexedAnnuitiesEmbeddedDerivativeMajorityofFutureYearsMember_0026CF04AB5367C81673FFB26503751E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed-Indexed and Variable-Indexed Annuities (Embedded Derivative), Majority of Future Years [Member]</link:label>
    <link:label id="lab_afg_FixedIndexedandVariableIndexedAnnuitiesEmbeddedDerivativeMajorityofFutureYearsMember_0026CF04AB5367C81673FFB26503751E_documentation_en-US" xlink:label="lab_afg_FixedIndexedandVariableIndexedAnnuitiesEmbeddedDerivativeMajorityofFutureYearsMember_0026CF04AB5367C81673FFB26503751E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives embedded in fixed-indexed and variable-indexed annuities, majority of future years</link:label>
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    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_13A914CF4128CD4B27B1FFB26505AB48_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_13A914CF4128CD4B27B1FFB26505AB48" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
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    <link:label id="lab_afg_NumberOfInternalInvestmentProfessionals_BD3B5C56A27477364F82FFB265052427_terseLabel_en-US" xlink:label="lab_afg_NumberOfInternalInvestmentProfessionals_BD3B5C56A27477364F82FFB265052427" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">AFG's internal investment professionals</link:label>
    <link:label id="lab_afg_NumberOfInternalInvestmentProfessionals_BD3B5C56A27477364F82FFB265052427_label_en-US" xlink:label="lab_afg_NumberOfInternalInvestmentProfessionals_BD3B5C56A27477364F82FFB265052427" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Internal Investment Professionals</link:label>
    <link:label id="lab_afg_NumberOfInternalInvestmentProfessionals_BD3B5C56A27477364F82FFB265052427_documentation_en-US" xlink:label="lab_afg_NumberOfInternalInvestmentProfessionals_BD3B5C56A27477364F82FFB265052427" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of internal investment professionals.</link:label>
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    <link:label id="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_7DD29F5349F5F05C21E4FFB26505BB23_terseLabel_en-US" xlink:label="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_7DD29F5349F5F05C21E4FFB26505BB23" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3 assets as a percentage of total assets measured at fair value</link:label>
    <link:label id="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_7DD29F5349F5F05C21E4FFB26505BB23_label_en-US" xlink:label="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_7DD29F5349F5F05C21E4FFB26505BB23" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level Three Asset As Percentage Of Asset Measured At Fair Value</link:label>
    <link:label id="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_7DD29F5349F5F05C21E4FFB26505BB23_documentation_en-US" xlink:label="lab_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_7DD29F5349F5F05C21E4FFB26505BB23" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Level Three Asset As Percentage Of Asset Measured At Fair Value.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue" xlink:label="loc_afg_LevelThreeAssetAsPercentageOfAssetMeasuredAtFairValue_7DD29F5349F5F05C21E4FFB26505BB23" xlink:type="locator" />
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    <link:label id="lab_afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_6F1314F31DBFEAB6162AFFB26505A43A_terseLabel_en-US" xlink:label="lab_afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_6F1314F31DBFEAB6162AFFB26505A43A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of level 3 assets that were priced using non-binding broker quotes</link:label>
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    <link:label id="lab_afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_6F1314F31DBFEAB6162AFFB26505A43A_documentation_en-US" xlink:label="lab_afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_6F1314F31DBFEAB6162AFFB26505A43A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of level 3 assets that were priced using non-binding broker quotes.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes" xlink:label="loc_afg_PercentageOfLevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_6F1314F31DBFEAB6162AFFB26505A43A" xlink:type="locator" />
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    <link:label id="lab_afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_FA795FCB12FCCA268E1CFFB26505AB30_terseLabel_en-US" xlink:label="lab_afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_FA795FCB12FCCA268E1CFFB26505AB30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3 assets that were priced using non-binding broker quotes</link:label>
    <link:label id="lab_afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_FA795FCB12FCCA268E1CFFB26505AB30_label_en-US" xlink:label="lab_afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_FA795FCB12FCCA268E1CFFB26505AB30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level Three Assets That Were Priced Using Non Binding Broker Quotes</link:label>
    <link:label id="lab_afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_FA795FCB12FCCA268E1CFFB26505AB30_documentation_en-US" xlink:label="lab_afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_FA795FCB12FCCA268E1CFFB26505AB30" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Level three assets that were priced using non-binding broker quotes.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes" xlink:label="loc_afg_LevelThreeAssetsThatWerePricedUsingNonBindingBrokerQuotes_FA795FCB12FCCA268E1CFFB26505AB30" xlink:type="locator" />
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    <link:label id="lab_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A_terseLabel_en-US" xlink:label="lab_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internally developed level 3 assets</link:label>
    <link:label id="lab_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A_label_en-US" xlink:label="lab_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Internally Developed Level 3 Assets</link:label>
    <link:label id="lab_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A_documentation_en-US" xlink:label="lab_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Level 3 assets in which the fair value was developed internally.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_InternallyDevelopedLevel3Assets" xlink:label="loc_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A" xlink:to="lab_afg_InternallyDevelopedLevel3Assets_F4C466056661428CDA46FFB26505804A" xlink:type="arc" />
    <link:label id="lab_afg_SecuritiesPricedUsingThirdPartyModel_896892A1BDFCE22D0A48FFB265061C5C_terseLabel_en-US" xlink:label="lab_afg_SecuritiesPricedUsingThirdPartyModel_896892A1BDFCE22D0A48FFB265061C5C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities priced using a third-party model</link:label>
    <link:label id="lab_afg_SecuritiesPricedUsingThirdPartyModel_896892A1BDFCE22D0A48FFB265061C5C_label_en-US" xlink:label="lab_afg_SecuritiesPricedUsingThirdPartyModel_896892A1BDFCE22D0A48FFB265061C5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securities Priced Using Third-Party Model</link:label>
    <link:label id="lab_afg_SecuritiesPricedUsingThirdPartyModel_896892A1BDFCE22D0A48FFB265061C5C_documentation_en-US" xlink:label="lab_afg_SecuritiesPricedUsingThirdPartyModel_896892A1BDFCE22D0A48FFB265061C5C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of securities priced using a third-party model.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_SecuritiesPricedUsingThirdPartyModel" xlink:label="loc_afg_SecuritiesPricedUsingThirdPartyModel_896892A1BDFCE22D0A48FFB265061C5C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput_6E71B4F6A620C0E0A312FFB2650677A6_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput_6E71B4F6A620C0E0A312FFB2650677A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis points credit spread applied by management using third party model</link:label>
    <link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput_6E71B4F6A620C0E0A312FFB2650677A6_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput_6E71B4F6A620C0E0A312FFB2650677A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Measurement Input</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput_6E71B4F6A620C0E0A312FFB2650677A6" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput_6E71B4F6A620C0E0A312FFB2650677A6" xlink:type="arc" />
    <link:label id="lab_afg_PercentofSpreadsUsedinThirdPartyPricingModel_EDE4DB1EE5A51F95D225FFB26506037E_terseLabel_en-US" xlink:label="lab_afg_PercentofSpreadsUsedinThirdPartyPricingModel_EDE4DB1EE5A51F95D225FFB26506037E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of spreads between 200 and 700 basis points</link:label>
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    <link:label id="lab_afg_PercentofSpreadsUsedinThirdPartyPricingModel_EDE4DB1EE5A51F95D225FFB26506037E_documentation_en-US" xlink:label="lab_afg_PercentofSpreadsUsedinThirdPartyPricingModel_EDE4DB1EE5A51F95D225FFB26506037E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percent of spreads between 400 and 700 basis points used in the third party pricing model.</link:label>
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    <link:label id="lab_us-gaap_DerivativeLiabilities_CF2B1B6FC1FFB97956EBFFB265064CC8_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_CF2B1B6FC1FFB97956EBFFB265064CC8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of derivatives in annuity benefits accumulated measured using a discounted cash flow approach</link:label>
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    <link:label id="lab_afg_FairValueInputsSurrenders_978274D2C8B390C80BB1FFB26506C7FC_terseLabel_en-US" xlink:label="lab_afg_FairValueInputsSurrenders_978274D2C8B390C80BB1FFB26506C7FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unobservable input surrenders used in Level 3 fair value determination</link:label>
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    <link:label id="lab_afg_FairValueInputsSurrenders_978274D2C8B390C80BB1FFB26506C7FC_documentation_en-US" xlink:label="lab_afg_FairValueInputsSurrenders_978274D2C8B390C80BB1FFB26506C7FC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk associated with risk of surrenders, expressed as a percentage, used as an input to measure fair value.</link:label>
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    <link:label id="lab_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043_terseLabel_en-US" xlink:label="lab_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Life contingent annuities</link:label>
    <link:label id="lab_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043_label_en-US" xlink:label="lab_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life Contingent Annuities</link:label>
    <link:label id="lab_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043_documentation_en-US" xlink:label="lab_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial liabilities on annuities in the payout phase that are contingent on the survival of the annuitant(s).</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_LifeContingentAnnuities" xlink:label="loc_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043" xlink:to="lab_afg_LifeContingentAnnuities_524B487778E4B94B80D8FFB265066043" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_5DADB5209CF6B59AB673E6723F3E4F28_verboseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_5DADB5209CF6B59AB673E6723F3E4F28" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Statutory rate of income taxes</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_5DADB5209CF6B59AB673E6723F3E4F28_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_5DADB5209CF6B59AB673E6723F3E4F28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_5DADB5209CF6B59AB673E6723F3E4F28" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLossCarryforwards_4BB474B5662B9E645C3FE6723F3E2D8C_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwards_4BB474B5662B9E645C3FE6723F3E2D8C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating loss carryforwards subject to SRLY tax rules will expire unutilized at December 31, 2020</link:label>
    <link:label id="lab_us-gaap_OperatingLossCarryforwards_4BB474B5662B9E645C3FE6723F3E2D8C_label_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwards_4BB474B5662B9E645C3FE6723F3E2D8C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="loc_us-gaap_OperatingLossCarryforwards_4BB474B5662B9E645C3FE6723F3E2D8C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncomeStatementAbstract_0934F5447E0EE01DCD47EFB669BD97F9_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_0934F5447E0EE01DCD47EFB669BD97F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_0934F5447E0EE01DCD47EFB669BD97F9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RevenuesAbstract_C5876478D1950A5734F2EFB669BDDE99_verboseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_C5876478D1950A5734F2EFB669BDDE99" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revenues:</link:label>
    <link:label id="lab_us-gaap_RevenuesAbstract_C5876478D1950A5734F2EFB669BDDE99_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_C5876478D1950A5734F2EFB669BDDE99" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_C5876478D1950A5734F2EFB669BDDE99" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PremiumsEarnedNetPropertyAndCasualty_66AF652D1F536A97FAE9EFB669BDDD9A_verboseLabel_en-US" xlink:label="lab_us-gaap_PremiumsEarnedNetPropertyAndCasualty_66AF652D1F536A97FAE9EFB669BDDD9A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Property and casualty insurance net earned premiums</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PremiumsEarnedNetPropertyAndCasualty" xlink:label="loc_us-gaap_PremiumsEarnedNetPropertyAndCasualty_66AF652D1F536A97FAE9EFB669BDDD9A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetInvestmentIncome_093996F180C5E91B84DDEFB669BD47DB_terseLabel_en-US" xlink:label="lab_us-gaap_NetInvestmentIncome_093996F180C5E91B84DDEFB669BD47DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net investment income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetInvestmentIncome" xlink:label="loc_us-gaap_NetInvestmentIncome_093996F180C5E91B84DDEFB669BD47DB" xlink:type="locator" />
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    <link:label id="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_3F07B632CA8ED82DE3CDEFB669BDCC0A_verboseLabel_en-US" xlink:label="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_3F07B632CA8ED82DE3CDEFB669BDCC0A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income (loss) of managed investment entities:</link:label>
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    <link:label id="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_3F07B632CA8ED82DE3CDEFB669BDCC0A_documentation_en-US" xlink:label="lab_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_3F07B632CA8ED82DE3CDEFB669BDCC0A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income (loss) of managed investment entities.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_IncomeLossOfManagedInvestmentEntitiesAbstract" xlink:label="loc_afg_IncomeLossOfManagedInvestmentEntitiesAbstract_3F07B632CA8ED82DE3CDEFB669BDCC0A" xlink:type="locator" />
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    <link:label id="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_B876496306F5436C085CEFB669BD6165_verboseLabel_en-US" xlink:label="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_B876496306F5436C085CEFB669BD6165" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investment income</link:label>
    <link:label id="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_B876496306F5436C085CEFB669BD6165_label_en-US" xlink:label="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_B876496306F5436C085CEFB669BD6165" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income of Managed Investment Entities</link:label>
    <link:label id="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_B876496306F5436C085CEFB669BD6165_documentation_en-US" xlink:label="lab_afg_InvestmentIncomeOfManagedInvestmentEntities_B876496306F5436C085CEFB669BD6165" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment income of managed investment entities.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_InvestmentIncomeOfManagedInvestmentEntities" xlink:label="loc_afg_InvestmentIncomeOfManagedInvestmentEntities_B876496306F5436C085CEFB669BD6165" xlink:type="locator" />
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    <link:label id="lab_afg_GainLossonChangeinFairValueofAssetsandLiabilitiesofManagedInvestmentEntities_BFEC3C07A09F016A3DB8EFB669BD94FA_verboseLabel_en-US" xlink:label="lab_afg_GainLossonChangeinFairValueofAssetsandLiabilitiesofManagedInvestmentEntities_BFEC3C07A09F016A3DB8EFB669BD94FA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on change in fair value of assets/liabilities</link:label>
    <link:label id="lab_afg_GainLossonChangeinFairValueofAssetsandLiabilitiesofManagedInvestmentEntities_BFEC3C07A09F016A3DB8EFB669BD94FA_label_en-US" xlink:label="lab_afg_GainLossonChangeinFairValueofAssetsandLiabilitiesofManagedInvestmentEntities_BFEC3C07A09F016A3DB8EFB669BD94FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Change in Fair Value of Assets and Liabilities of Managed Investment Entities</link:label>
    <link:label id="lab_afg_GainLossonChangeinFairValueofAssetsandLiabilitiesofManagedInvestmentEntities_BFEC3C07A09F016A3DB8EFB669BD94FA_documentation_en-US" xlink:label="lab_afg_GainLossonChangeinFairValueofAssetsandLiabilitiesofManagedInvestmentEntities_BFEC3C07A09F016A3DB8EFB669BD94FA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loss on change in fair value of assets and liabilities of managed investment entities.</link:label>
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    <link:label id="lab_us-gaap_OtherIncome_9991A368B2379F2DDFEDEFB669BDFCEB_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherIncome_9991A368B2379F2DDFEDEFB669BDFCEB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other income</link:label>
    <link:label id="lab_us-gaap_OtherIncome_9991A368B2379F2DDFEDEFB669BDFCEB_label_en-US" xlink:label="lab_us-gaap_OtherIncome_9991A368B2379F2DDFEDEFB669BDFCEB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Income</link:label>
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    <link:label id="lab_us-gaap_Revenues_5FBE0FCC1C80C99EC5BBEFB669BD18ED_totalLabel_en-US" xlink:label="lab_us-gaap_Revenues_5FBE0FCC1C80C99EC5BBEFB669BD18ED" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenues</link:label>
    <link:label id="lab_us-gaap_Revenues_5FBE0FCC1C80C99EC5BBEFB669BD18ED_label_en-US" xlink:label="lab_us-gaap_Revenues_5FBE0FCC1C80C99EC5BBEFB669BD18ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
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    <link:label id="lab_us-gaap_BenefitsLossesAndExpensesAbstract_19344FF5603FEBD9064BEFB669BD1C96_verboseLabel_en-US" xlink:label="lab_us-gaap_BenefitsLossesAndExpensesAbstract_19344FF5603FEBD9064BEFB669BD1C96" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Costs and Expenses:</link:label>
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    <link:label id="lab_us-gaap_IncurredClaimsPropertyCasualtyAndLiability_3B371046683B698DE51BEFB669BD1175_verboseLabel_en-US" xlink:label="lab_us-gaap_IncurredClaimsPropertyCasualtyAndLiability_3B371046683B698DE51BEFB669BD1175" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Losses and loss adjustment expenses</link:label>
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    <link:label id="lab_us-gaap_PolicyholderAccountsPolicy_6EC271BA6E0838010C46F02A3F950DC4_label_en-US" xlink:label="lab_us-gaap_PolicyholderAccountsPolicy_6EC271BA6E0838010C46F02A3F950DC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Policyholder Accounts, Policy [Policy Text Block]</link:label>
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    <link:label id="lab_us-gaap_LesseeLeasesPolicyTextBlock_F86227C66CF561804AAFF02A3F963697_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeLeasesPolicyTextBlock_F86227C66CF561804AAFF02A3F963697" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leases</link:label>
    <link:label id="lab_us-gaap_LesseeLeasesPolicyTextBlock_F86227C66CF561804AAFF02A3F963697_label_en-US" xlink:label="lab_us-gaap_LesseeLeasesPolicyTextBlock_F86227C66CF561804AAFF02A3F963697" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Leases [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeLeasesPolicyTextBlock" xlink:label="loc_us-gaap_LesseeLeasesPolicyTextBlock_F86227C66CF561804AAFF02A3F963697" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeLeasesPolicyTextBlock_F86227C66CF561804AAFF02A3F963697" xlink:to="lab_us-gaap_LesseeLeasesPolicyTextBlock_F86227C66CF561804AAFF02A3F963697" xlink:type="arc" />
    <link:label id="lab_afg_NoncontrollingInterestsPolicyTextBlock_95A55DAA7B6A59B9243AF02A3F96B03C_verboseLabel_en-US" xlink:label="lab_afg_NoncontrollingInterestsPolicyTextBlock_95A55DAA7B6A59B9243AF02A3F96B03C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests</link:label>
    <link:label id="lab_afg_NoncontrollingInterestsPolicyTextBlock_95A55DAA7B6A59B9243AF02A3F96B03C_label_en-US" xlink:label="lab_afg_NoncontrollingInterestsPolicyTextBlock_95A55DAA7B6A59B9243AF02A3F96B03C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests [Policy Text Block]</link:label>
    <link:label id="lab_afg_NoncontrollingInterestsPolicyTextBlock_95A55DAA7B6A59B9243AF02A3F96B03C_documentation_en-US" xlink:label="lab_afg_NoncontrollingInterestsPolicyTextBlock_95A55DAA7B6A59B9243AF02A3F96B03C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Describes an entity's accounting policy for determining noncontrolling interests.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_NoncontrollingInterestsPolicyTextBlock" xlink:label="loc_afg_NoncontrollingInterestsPolicyTextBlock_95A55DAA7B6A59B9243AF02A3F96B03C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_9E64AB9C24FC6A63C5BDF02A3F96718F_verboseLabel_en-US" xlink:label="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_9E64AB9C24FC6A63C5BDF02A3F96718F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Premium Recognition</link:label>
    <link:label id="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_9E64AB9C24FC6A63C5BDF02A3F96718F_label_en-US" xlink:label="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_9E64AB9C24FC6A63C5BDF02A3F96718F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insurance Premiums Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InsurancePremiumsRevenueRecognitionPolicy" xlink:label="loc_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_9E64AB9C24FC6A63C5BDF02A3F96718F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_9E64AB9C24FC6A63C5BDF02A3F96718F" xlink:to="lab_us-gaap_InsurancePremiumsRevenueRecognitionPolicy_9E64AB9C24FC6A63C5BDF02A3F96718F" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_1B09A44570E39F198D9AF02A3F974341_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_1B09A44570E39F198D9AF02A3F974341" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_1B09A44570E39F198D9AF02A3F974341_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_1B09A44570E39F198D9AF02A3F974341" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock_1B09A44570E39F198D9AF02A3F974341" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_F0070E83E42AD400CBE3F02A3F971ABF_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_F0070E83E42AD400CBE3F02A3F971ABF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_F0070E83E42AD400CBE3F02A3F971ABF_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_F0070E83E42AD400CBE3F02A3F971ABF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_F0070E83E42AD400CBE3F02A3F971ABF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_F0070E83E42AD400CBE3F02A3F971ABF" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_F0070E83E42AD400CBE3F02A3F971ABF" xlink:type="arc" />
    <link:label id="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853_verboseLabel_en-US" xlink:label="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Benefit Plans</link:label>
    <link:label id="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853_label_en-US" xlink:label="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Postretirement and Postemployment Benefit Plans [Policy Text Block]</link:label>
    <link:label id="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853_documentation_en-US" xlink:label="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of the accounting policy for postretirement and postemployment benefit plans sponsored by the entity.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock" xlink:label="loc_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853" xlink:to="lab_afg_PostretirementAndPostemploymentBenefitPlansPolicyTextBlock_2D1E03860200744E4590F02A3F971853" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_25346A5B00A67C35F930F02A3F979ECB_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock_25346A5B00A67C35F930F02A3F979ECB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Earnings Per Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_25346A5B00A67C35F930F02A3F979ECB_label_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock_25346A5B00A67C35F930F02A3F979ECB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock_25346A5B00A67C35F930F02A3F979ECB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerSharePolicyTextBlock_25346A5B00A67C35F930F02A3F979ECB" xlink:to="lab_us-gaap_EarningsPerSharePolicyTextBlock_25346A5B00A67C35F930F02A3F979ECB" xlink:type="arc" />
    <link:label id="lab_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711_verboseLabel_en-US" xlink:label="lab_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows</link:label>
    <link:label id="lab_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711_label_en-US" xlink:label="lab_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Policy Text Block]</link:label>
    <link:label id="lab_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711_documentation_en-US" xlink:label="lab_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Describes an entity's accounting policy related to the statement of cash flows.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_StatementOfCashFlowsPolicyTextBlock" xlink:label="loc_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711" xlink:to="lab_afg_StatementOfCashFlowsPolicyTextBlock_1A81140459D2011C3DB3F02A3F975711" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_2DF1C166AD078BC27129F06CFA4DA9A2_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_2DF1C166AD078BC27129F06CFA4DA9A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments of Operations</link:label>
    <link:label id="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_2DF1C166AD078BC27129F06CFA4DA9A2_label_en-US" xlink:label="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_2DF1C166AD078BC27129F06CFA4DA9A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:label="loc_us-gaap_SegmentReportingPolicyPolicyTextBlock_2DF1C166AD078BC27129F06CFA4DA9A2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingPolicyPolicyTextBlock_2DF1C166AD078BC27129F06CFA4DA9A2" xlink:to="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_2DF1C166AD078BC27129F06CFA4DA9A2" xlink:type="arc" />
    <link:label id="lab_us-gaap_MarketableSecuritiesPolicy_4B8592564D01083783B0F06385368A80_terseLabel_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesPolicy_4B8592564D01083783B0F06385368A80" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Unrealized Gain on Marketable Securities</link:label>
    <link:label id="lab_us-gaap_MarketableSecuritiesPolicy_4B8592564D01083783B0F06385368A80_label_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesPolicy_4B8592564D01083783B0F06385368A80" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Marketable Securities, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MarketableSecuritiesPolicy" xlink:label="loc_us-gaap_MarketableSecuritiesPolicy_4B8592564D01083783B0F06385368A80" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketableSecuritiesPolicy_4B8592564D01083783B0F06385368A80" xlink:to="lab_us-gaap_MarketableSecuritiesPolicy_4B8592564D01083783B0F06385368A80" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_2DAE47B1655E9B0DB88AF05A3E12682D_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_2DAE47B1655E9B0DB88AF05A3E12682D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income, Net of Tax (&#8220;AOCI&#8221;)</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_2DAE47B1655E9B0DB88AF05A3E12682D_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_2DAE47B1655E9B0DB88AF05A3E12682D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:label="loc_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_2DAE47B1655E9B0DB88AF05A3E12682D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_2DAE47B1655E9B0DB88AF05A3E12682D" xlink:to="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_2DAE47B1655E9B0DB88AF05A3E12682D" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_3C88C35E9255B4526C5204409114D76B_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_3C88C35E9255B4526C5204409114D76B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_3C88C35E9255B4526C5204409114D76B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_3C88C35E9255B4526C5204409114D76B" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract_3C88C35E9255B4526C5204409114D76B" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_D692B93B4FFBE40ED41F044091185D59_verboseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_D692B93B4FFBE40ED41F044091185D59" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Operating Activities:</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_D692B93B4FFBE40ED41F044091185D59" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_DC9EB7DCAB68B519CDEE0440911F1E82_verboseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_DC9EB7DCAB68B519CDEE0440911F1E82" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Adjustments:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_DC9EB7DCAB68B519CDEE0440911F1E82_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_DC9EB7DCAB68B519CDEE0440911F1E82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
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    <link:label id="lab_us-gaap_DepreciationAmortizationAndAccretionNet_1AF9AD705F3899DA45360440911FF2E1_verboseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAmortizationAndAccretionNet_1AF9AD705F3899DA45360440911FF2E1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAmortizationAndAccretionNet_1AF9AD705F3899DA45360440911FF2E1_label_en-US" xlink:label="lab_us-gaap_DepreciationAmortizationAndAccretionNet_1AF9AD705F3899DA45360440911FF2E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Amortization and Accretion, Net</link:label>
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    <link:label id="lab_us-gaap_RealizedInvestmentGainsLosses_D1F57D3E0006D85383C6044091201CDC_negatedLabel_en-US" xlink:label="lab_us-gaap_RealizedInvestmentGainsLosses_D1F57D3E0006D85383C6044091201CDC" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Realized (gains) losses on investing activities</link:label>
    <link:label id="lab_us-gaap_RealizedInvestmentGainsLosses_D1F57D3E0006D85383C6044091201CDC_label_en-US" xlink:label="lab_us-gaap_RealizedInvestmentGainsLosses_D1F57D3E0006D85383C6044091201CDC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Realized Investment Gains (Losses)</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_1B10E520B0A7B695671604409121984E_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_1B10E520B0A7B695671604409121984E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net sales of trading securities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_1B10E520B0A7B695671604409121984E_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_1B10E520B0A7B695671604409121984E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from (Payments for) Trading Securities, Short-term</link:label>
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    <link:label id="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_C86A28E31C5E1104A66404409121389A_negatedLabel_en-US" xlink:label="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_C86A28E31C5E1104A66404409121389A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred annuity and life policy acquisition costs</link:label>
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    <link:label id="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_C86A28E31C5E1104A66404409121389A_documentation_en-US" xlink:label="lab_afg_DeferredAnnuityAndLifePolicyAcquisitionCosts_C86A28E31C5E1104A66404409121389A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annuity and Life additions during the period in (a) capitalized costs that vary with and are primarily related to the acquisition of new and renewal insurance contracts and coverage, and (b) capitalized present value of future profits (also known as value of business acquired).</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_6CF18F37C9B7B1665D49044091213584_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_6CF18F37C9B7B1665D49044091213584" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Change in:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_6CF18F37C9B7B1665D49044091213584_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_6CF18F37C9B7B1665D49044091213584" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</link:label>
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    <link:label id="lab_afg_IncreaseDecreaseinReinsuranceandOtherReceivables_43A880639932E758F81E0440912141F7_documentation_en-US" xlink:label="lab_afg_IncreaseDecreaseinReinsuranceandOtherReceivables_43A880639932E758F81E0440912141F7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in reinsurance, agent's balances and premiums receivable and other receivables.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_IncreaseDecreaseinReinsuranceandOtherReceivables" xlink:label="loc_afg_IncreaseDecreaseinReinsuranceandOtherReceivables_43A880639932E758F81E0440912141F7" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_23629839AD308B48487104409122B892_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_23629839AD308B48487104409122B892" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_23629839AD308B48487104409122B892_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_23629839AD308B48487104409122B892" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_23629839AD308B48487104409122B892" xlink:type="locator" />
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    <link:label id="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_AD5DE148BD79C64DE60004409122419F_verboseLabel_en-US" xlink:label="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_AD5DE148BD79C64DE60004409122419F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Insurance claims and reserves</link:label>
    <link:label id="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_AD5DE148BD79C64DE60004409122419F_label_en-US" xlink:label="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_AD5DE148BD79C64DE60004409122419F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Insurance Claims and Reserves</link:label>
    <link:label id="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_AD5DE148BD79C64DE60004409122419F_documentation_en-US" xlink:label="lab_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_AD5DE148BD79C64DE60004409122419F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net change in the beginning and end of the period for unpaid losses and loss adjustment expenses, unearned premiums, and life, accident and health reserves needed to adjust net income to arrive at net cash flows provided by (used in) operating activities.</link:label>
    <link:loc xlink:href="afg-20200331.xsd#afg_IncreaseDecreaseInInsuranceClaimsAndReserves" xlink:label="loc_afg_IncreaseDecreaseInInsuranceClaimsAndReserves_AD5DE148BD79C64DE60004409122419F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInReinsurancePayables_E6FD031374C08C6A4DFF044091222FAA_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReinsurancePayables_E6FD031374C08C6A4DFF044091222FAA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Payable to reinsurers</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_6F0F791CFF9311F1A2F004409122825D_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_6F0F791CFF9311F1A2F004409122825D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_6F0F791CFF9311F1A2F004409122825D" xlink:type="locator" />
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    <link:label id="lab_afg_ChangeinManagedInvestmentEntitiesAssetsAndLiabilities_81D4C6A3093DE3A016BA044091239783_negatedLabel_en-US" xlink:label="lab_afg_ChangeinManagedInvestmentEntitiesAssetsAndLiabilities_81D4C6A3093DE3A016BA044091239783" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Managed investment entities&#8217; assets/liabilities</link:label>
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    <link:label id="lab_afg_ChangeinManagedInvestmentEntitiesAssetsAndLiabilities_81D4C6A3093DE3A016BA044091239783_documentation_en-US" xlink:label="lab_afg_ChangeinManagedInvestmentEntitiesAssetsAndLiabilities_81D4C6A3093DE3A016BA044091239783" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) during the reporting period in other operating assets and liabilities of managed investment entities.</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_C61C6F925C844D82ED1804409123E771_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_C61C6F925C844D82ED1804409123E771" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
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