September 8, 1995
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549
Re: Security Life of Denver Insurance Company
Separate Account A1 (SEC File No. 811-8196)
Ladies and Gentlemen:
We submit herewith for filing with the Securities
and Exchange Commission via EDGAR, pursuant to Rule 30b2-1
of the Investment Company Act of 1940, the semi-annual report
to holders of variable annuity contracts issued by registrant,
consisting of a cover letter and the semi-annual reports for
the half year ended June 30, 1995, of the funds listed
below (the "Funds"), each of which is a separate series of
an open-end diversified management investment company in which
registrant invests.
These reports were previously filed with the SEC through
the Electronic Data Gathering, Analysis and Retrieval
("EDGAR") system by the respective management investment
companies, on the dates and with the reference numbers which
appear below opposite the funds' names. Those filings are
incorporated herein by this reference.
Fred Alger Management, Inc.
SEC File #: 811-05550
CIK #: 0000832566
Form #: N-30D
Fidelity Management & Research Company
SEC File #: 811-03329 and 811-05511
CIK #: 0000356494 and 0000831016
Form #: N-30D
INVESCO Variable Investment Funds, Inc.
SEC File #: 811-8038
CIK #: 0000912744
Form #: N-30D
Neuberger & Berman Advisers Management Trust
SEC File #: 811-04255
CIK #: 0000736913
Form #: N-30D
Please contact the undersigned or Diane E. Ambler at
Mayer, Brown & Platt (202) 778-0641, with any questions or
comments.
Very truly yours,
/s/ Bonnie C. Dailey
Enclosures
cc: D. Ambler
S. Knarr
T. Stevens
J. Skouse
September 5, 1995
Dear Policyholder,
We are pleased to send you the semi-annual reports for four of
the investment advisers who support your variable policy and
whose fiscal reporting period ended June 30, 1995. These are
Fidelity Investments, Fred Alger Management, INVESCO Funds
Group, and Neuberger and Berman Management Incorporated. The
semi-annual report for the fifth fund manager_Van Eck
Associates_will be sent to you December 31st, after the close
of Van Eck's fiscal reporting period.
We know that selecting a life insurance company to effectively
meet your needs and expectations is a significant decision. We
appreciate your selecting Security Life and are committed to
maintaining the financial strength that you expect from your
life insurance carrier. Since 1980, we have sustained a
19 percent compound growth rate, and the results from the first
half of this year suggest that this trend is continuing.
Our economic stability is reflected in our ratings, all of
which have been renewed by the financial rating services.
During 1994, we obtained a Moody's Investors Service rating of
Aa2, signifying excellent financial security. This rating now
stands along side our AAA rating from both Standard & Poor's
and Duff & Phelps as well as our A+ ratings from Best's and
Weiss Research. These ratings_which relate to claims-paying
ability_reflect Security Life's financial integrity and deep
commitment to honoring our obligations to policyholders. It is
Security Life's policy to maintain such high ratings by
balancing conservative investment policies with aggressive
development plans.
Certainly part of our strength comes from being a member of a
financially strong international organization, the ING Group.
ING_which purchased Security Life in 1977_ is the world's
largest diversified financial services organization in the
world with retained assets of more than $207 billion. ING's
recent acquisition of Barings Bank is an excellent example of
ING's objective of growing the organization strategically.
Barings' strengths, especially in asset management, merchant
banking, emerging market securities and research, complement
ING's considerable international position in capital and
corporate market activities, asset management, and other
international financial services.
Security Life has built an excellent reputation for integrity
and quality. As 1995 unfolds, we continue to challenge
ourselves to provide you with the quality products and services
that validate your choice of Security Life as your preferred
insurance company.
Sincerely,
/s/ Stephen M. Christopher
President
