<PAGE>
FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: __/__/__ (a)
or fiscal year ending: 12/31/97 (b)
Is this a transition report?: (Y/N) Y
---
Is this an amendment to a previous filing? (Y/N) N
---
Those items or sub-items with a box "[_]" after the item number should be
completed only if the answer has changed from the previous filing on this form.
1. A. Registrant Name: American National Variable Annuity Separate Account
B. File Number: 811-0000899732
C. Telephone Number: (409)763-4661
2. A. Street: One Moody Plaza
B. City: Galveston C. State: Texas D. Zip Code: 77550 Zip Ext: 7999
E. Foreign Country: Foreign Postal Codes:
3. Is this the first filing on this form by Registrant? (Y/N) N
---
4. Is this the last filing on this form by Registrant? (Y/N) N
---
5. Is Registrant a small business investment company (SBIC)? (Y/N) N
[If answer is "Y" (Yes), complete only items 89 through 110.] ---
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
[If answer is "Y" (Yes), complete only items 111 through 132.] ---
7. A. Is Registrant a series or multiple portfolio company? (Y/N) Y
[If answer is "N" (No), go to item 8.] ---
B. How many separate series or portfolios did Registrant have at the end
of the period? 14
----
<PAGE>
-----------------------
For period ending 12/31/97 If filing more than one
-------- Page 2, "X" box: [_]
File Number 811-0000899732 -----------------------
-----------
C. List the name of each series or portfolio and give a consecutive number to
each series or portfolio starting with the number 1. USE THIS SAME NUMERICAL
DESIGNATION FOR EACH SERIES OR PORTFOLIO IN THE SERIES INFORMATION BLOCK IN
THE TOP RIGHT CORNER OF THE SCREEN'S SUBMITTED IN THIS FILING AND IN ALL
SUBSEQUENT FILINGS ON THIS FORM. THIS INFORMATION IS REQUIRED EACH TIME THE
FORM IS FILED.
<TABLE>
<CAPTION>
Is this the
Series last filing
Number Series Name for this series?
- ------ -------------------------------------------------------------------------------- ----------------
(Y/N)
<S> <C> <C>
1 American National Investment Accounts, Inc Growth Portfolio N
2 American National Investment Accounts, Inc Managed Portfolio N
3 American National Investment Accounts, Inc Balanced Portfolio N
4 American National Investment Accounts, Inc Money Market Portfolio N
5 Fidelity Investments Variable Insurance Products Fund Money Market Portfolio N
6 Fidelity Investments Variable Insurance Products Fund High Income Portfolio N
7 Fidelity Investments Variable Insurance Products Fund Equity-Income Portfolio N
8 Fidelity Investments Variable Insurance Products Fund Growth Portfolio N
9 Fidelity Investments Variable Insurance Products Fund Overseas Portfolio N
10 Fidelity Investments Variable Insurance Products Fund II Invest. Grade Bond Portfolio N
11 Fidelity Investments Variable Insurance Products Fund II Asset Manager Portfolio N
12 Fidelity Investments Variable Insurance Products Fund II Index 500 Portfolio N
13 Fidelity Investments Variable Insurance Products Fund Contra Portfolio N
14 Fidelity Investments Variable Insurance Products Fund Asset Manager Growth N
</TABLE>
(NOTE: See item D(8) of the general instructions to the form for information on
how to complete the form for series companies.)
<PAGE>
-----------------------
For period ending 12/31/97 If filing more than one
-------- Page 47, "X" box: [_]
File Number 811-0000899732 -----------------------
-----------
UNIT INVESTMENT TRUSTS
111. A. [_] Depositor Name: American National Insurance Company
-----------------------------------
B. [_] File Number (If any): 33-60442
--------
C. [_] City: Galveston State: Texas Zip Code: 77550 Zip Ext.: 7999
--------- ----- ----- ----
[_] Foreign Country: __________________ Foreign Postal Code: _________
111. A. [_] Depositor Name: __________________________________________________
B. [_] File Number (If any): ____________________
C. [_] City: _________ State: ______ Zip Code: ____ Zip Ext.: ____
[_] Foreign Country: __________________ Foreign Postal Code: _________
112. A. [_] Sponsor Name: ____________________________________________________
B. [_] File Number (If any): --------------------
C. [_] City: _________ State: ______ Zip Code: ____ Zip Ext.: ____
[_] Foreign Country: __________________ Foreign Postal Code: _________
112. A. [_] Sponsor Name: ____________________________________________________
B. [_] File Number (If any): --------------------
C. [_] City: _________ State: ______ Zip Code: ____ Zip Ext.: ____
[_] Foreign Country: __________________ Foreign Postal Code: _________
<PAGE>
-----------------------
For period ending 12/31/97 If filing more than one
-------- Page 48, "X" box: [_]
File Number 811-0000899732 -----------------------
-----------
111. A. [_] Trustee Name: American National Variable Annuity Separate Account
---------------------------------------------------
B. [_] City: Galveston State: Texas Zip Code: 77550 Zip Ext.: 7999
--------- ----- ----- ----
[_] Foreign Country: __________________ Foreign Postal Code: _________
113. A. [_] Trustee Name: ____________________________________________________
B. [_] City: _________ State: ______ Zip Code: ____ Zip Ext.: ____
[_] Foreign Country: __________________ Foreign Postal Code: _________
114. A. [_] Principal Underwriter Name: American National Insurance Company
-----------------------------------
B. [_] File Number (If any): 8-_________________
C. [_] City: Galveston State: Texas Zip Code: 77550 Zip Ext.: 7999
--------- ----- ----- ----
[_] Foreign Country: __________________ Foreign Postal Code: _________
114. A. [_] Principal Underwriter Name: _____________________________________
B. [_] File Number (If any): 8-_________________
C. [_] City: _________ State: ______ Zip Code: ____ Zip Ext.: ____
[_] Foreign Country: __________________ Foreign Postal Code: _________
115. A. [_] Independent Public Accountant Name: ______________________________
B. [_] City: _________ State: ______ Zip Code: ____ Zip Ext.: ____
[_] Foreign Country: __________________ Foreign Postal Code: _________
115. A. [_] Independent Public Accountant Name: Arthur Andersen and Company,
LLP
------------------------------
B. [_] City: Houston State: Texas Zip Code: 77002 Zip Ext.: 2786
------- ----- ----- ----
[_] Foreign Country: __________________ Foreign Postal Code: _________
<PAGE>
For period ending 12/31/97 If filing more than one
-------- Page 49, "X" box: [_]
File Number 811-0000899732 -----------------------
----------
116. Family of investment companies information:
A. [_] Is Registrant part of a family of investment companies? (Y/N) N
---
Y/N
B. [_] Identify the family in 10 letters _ _ _ _ _ _ _ _ _ _
(NOTE: In filing this form, use this identification consistently
for all investment companies in family. This designation
is for purposes of this form only.)
117. A. [_] Is Registrant a separate account of an insurance company? (Y/N) Y
---
If answer is "Y" (Yes), are any of the following types of contracts funded
by the Registrant?:
B. [_] Variable annuity contracts? (Y/N) Y
---
C. [_] Scheduled premium variable life contracts? (Y/N) N
---
D. [_] Flexible premium variable life contracts? (Y/N) N
---
E. [_] Other types of insurance products registered under the
Securities Act of 1933 (Y/N) N
---
118. [_] State the number of series existing at the end of the period
that had securities registered under the Securities Act of
1933 14
---
119. [_] State the number of new series for which registration
statements under the Securities Act of 1933 became
effective during the period 0
---
120. [_] State the total value of the portfolio securities on the
date of deposit for the new series included in item 119
($000's omitted) $ 0
---
121. [_] State the number of series for which a current prospectus
was in existence at the end of the period 14
---
122. [_] State the number of existing series for which additional
units were registered under the Securities Act of 1933
during the current period 0
---
<PAGE>
-----------------------
For period ending 12/31/97 If filing more than one
-------- Page 50, "X" box: [_]
File Number 811-0000899732 -----------------------
----------
123. [_] State the total value of the additional units considered
in answering item 122 ($000's omitted) $ 0
---
124. [_] State the total value of units of prior series that were
placed in the portfolios of subsequent series during the
current period (the value of these units is to be measured
on the date they were placed in the subsequent series)
($000's omitted) $ 0
---
125. [_] State the total dollar amount of sales loads collected
(before reallowances to other brokers or dealers) by
Registrant's principal underwriter and any underwriter which
is an affiliated person of the principal underwriter during
the current period solely from the sale of units of all
series of Registrant ($000's omitted) $ 0
---
126. [_] Of the amount shown in item 125, state the total dollar
amount of sales loads collected from secondary market
operations in Registrant's units (include the sales loads,
if any, collected on units of a prior series placed in the
portfolio of a subsequent series.) ($000's omitted) $ 0
---
127. [_] List opposite the appropriate description below the number
of series whose portfolios are invested primarily (based
upon a percentage of NAV) in each type of security shown,
the aggregate total assets at market value as of a date at
or near the end of the current period of each such group of
series and the total income distributions made by each such
group of series during the current period (excluding
distributions of realized gains, if any):
<TABLE>
<CAPTION>
Number of Total Assets Total Income
Series ($000's Distributions
Investing omitted) ($000's omitted)
--------- ------------ ----------------
<S> <C> <C> <C>
A. U.S. Treasury direct issue______ ________ $__________ $__________
B. U.S. Government agency__________ -------- $---------- $----------
C. State and municipal tax-free___ -------- $---------- $----------
D. Public utility debt____________ -------- $---------- $----------
E. Brokers or dealers debt or debt
of brokers' or dealers' parent_ -------- $---------- $----------
F. All other corporate intermed. &
long-term debt_________________
-------- ----------- -----------
G. All other corporate short-term 4,5 $ 1,099 $ 38
debt___________________________ -------- ---------- ----------
H. Equity securities of brokers
or dealers or parents of
brokers or dealers_____________ -------- $---------- $----------
I. Investment company equity
securities_____________________ -------- $---------- $----------
J. All other equity securities____ 1,2,3,6,7,8,9
10,11,12,13,14 $21,050 $ 930
-------- ----------- -----------
K. Other securities_______________ -------- $---------- $----------
L. Total assets of all series
of registrant__________________ -------- $---------- $----------
</TABLE>
<PAGE>
-----------------------
For period ending 12/31/97 If filing more than one
-------- Page 51, "X" box: [_]
File Number 811-0000899732 -----------------------
----------
128. [_] Is the timely payment of principal and interest on any
of the portfolio securities held by any of Registrant's
series at the end of the current period insured or
guaranteed by an entity other than the issuer? (Y/N) N
------
[If answer is "N" (No), go to item 131.]
129. [_] Is the issuer of any instrument covered in item 128
delinquent or in default as to payment of principal or
interest at the end of the current period? (Y/N)
------
[If answer is "N" (No), go to item 131.]
130. [_] In computations of NAV or offering price per unit, is
any part of the value attributed to instruments identified
in item 129 derived from insurance or guarantees? (Y/N)
------
131. [_] Total expenses incurred by all series of Registrant during
the current reporting period ($000's omitted) $ 232
------
132. [_] List the "811" (Investment Company Act of 1940) registration number for
all Series of Registrant that are being included in this filing:
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
811-______ 811-______ 811-______ 811-______ 811-______ 811-______
<PAGE>
For period ending (a) 12/31/97
--------
File number (c) 811-0000899732
----------
SIGNATURE PAGE
This report is signed on behalf of the registrant in the City of Galveston and
State of Texas on the 26th day of February, 1998.
American National Variable Annuity Separate Account
---------------------------------------------------
Registrant
Witness: /s/ WAYNE CUCCO /s/ W.F. CARLTON
------------------------- ----------------------------
Name Name
Senior Policy Analyst Assistant Vice President Financial Report
--------------------- -----------------------------------------
Title Title
