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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
August 23, 1995 Commission File No. 1-7361
(Date of earliest event reported)
AMERICAN FINANCIAL CORPORATION
Incorporated under the laws IRS Employer
of Ohio Identification No. 31-0624874
One East Fourth Street
Cincinnati, Ohio 45202
Phone: (513) 579-2121
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AMERICAN FINANCIAL CORPORATION
FORM 8-K
Item 4. Changes in Registrant's Certifying Accountant.
American Financial Corporation ("AFC") is organized
as a holding company with almost all of its operations conducted
by subsidiaries and investees. In its report on AFC's 1994
financial statements, Ernst & Young LLP, AFC's principal
independent accountants, expressed reliance on the reports of
Deloitte & Touche LLP with respect to the financial statements of
American Premier Underwriters, Inc. ("APU"), an AFC investee.
Effective August 23, 1995, pursuant to a recommendation of their
respective Audit Committees adopted by their Executive Committees
of the Board of Directors, American Financial Group, Inc. and APU
engaged the firm of Ernst & Young LLP to be their principal
independent accountants for purposes of performing the 1995 audit
of their financial statements. Both companies have informed
their previous principal independent accountants, Deloitte &
Touche LLP, of their action. This change will enable the
companies to better coordinate financial reporting matters with
their significant affiliate, AFC. This change results in a
single auditor for the major subsidiaries in the entire American
Financial Group, Inc.
In connection with the audits of APU's two fiscal
years ended December 31, 1994 and during the subsequent interim
periods, there have been no disagreements on any matter of
accounting principles or practices, financial statement
disclosure, or auditing scope or procedures with Deloitte &
Touche LLP, which disagreements if not resolved to the
satisfaction of Deloitte & Touche LLP would have caused them to
make reference in their opinion to the subject matter of the
disagreement. The report of Deloitte & Touche LLP on the
consolidated financial statements of APU has not contained an
adverse opinion, or a disclaimer of opinion and has not been
qualified or modified as to uncertainty, audit scope, or
accounting principles for the years 1993 and 1994.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
Exhibit (16) Letter re: change in certifying accountant
Page 2 of 3
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
AMERICAN FINANCIAL CORPORATION
August 29, 1995 By:Fred J. Runk
Fred J. Runk
Vice President & Treasurer
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August 29, 1995
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in Item 4 of Forms 8-K
of American Financial Group, Inc. and American Premier
Underwriters, Inc., American Financial Corporation and American
Financial Enterprises, Inc. dated August 29, 1995.
Yours truly,
DELOITTE & TOUCHE LLP
