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
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) December 31, 1998
ANCHOR NATIONAL LIFE INSURANCE COMPANY
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
ARIZONA 33-47472 86-0198983
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
1 SUNAMERICA CENTER
LOS ANGELES, CALIFORNIA 90067-6022
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code (310) 772-6000
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Item 2. Acquisition or Disposition of Assets
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On July 15, 1998, SunAmerica Inc., Anchor National Life Insurance Company, and
First SunAmerica Life Insurance Company entered into a definitive agreement to
acquire the individual life and individual and group annuity businesses of MBL
Life Assurance Corporation for a cash purchase price of approximately
$128,000,000. The transaction included approximately $5,900,000,000 in reserves
acquired under a reinsurance contract, and included $2,400,000,000 of reserves
for universal life policies and $3,500,000,000 of fixed annuity reserves. The
purchase price was agreed to by the parties on an arms-length basis and the
entire transaction was approved by the New Jersey Superior Court, which has
jurisdiction over the plan of rehabilitation under which MBL Life Assurance
Corporation is operating. The acquisition was completed through Anchor National
Life Insurance Company on December 31, 1998.
Item 7. Financial Statements, Pro Forma Financial Information and
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Exhibits
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a) & b) At this time, it is impracticable to file financial statements of
the acquired business and pro forma financial information which would give
effect to the acquisition. Anchor National Life Insurance Company expects this
financial information to be available within the next 60 days.
c) The Purchase and Sale Agreement, dated as of July 15, 1998, by and
among the Company, SunAmerica Inc. ("SAI"), First SunAmerica Life Insurance
Company and MBL Life Assurance Corporation, is incorporated herein by reference
to Exhibit 2(e) to SAI's 1998 Annual Report on Form 10-K, filed December 21,
1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
duly authorized.
ANCHOR NATIONAL LIFE INSURANCE COMPANY
Date: January 14, 1999 By: /s/ Scott L. Robinson
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Scott L. Robinson
Senior Vice President
