Annuity Investors(R) Variable Account A
of
ANNUITY INVESTORS(R)
LIFE INSURANCE COMPANY
for
[commodore logo]
The Commodore The Commodore
Nauticus(R) Americus(R)
June 30, 2000
Semiannual Report to Contract Owners
<PAGE>
Table of Contents Page
Letter from the President 2
Portfolio Semiannual Reports Tab
Janus Aspen Series I
Aggressive Growth Portfolio
Worldwide Growth Portfolio
Balanced Portfolio
Capital Appreciation Portfolio
Dreyfus Variable Investment Fund II
Appreciation Portfolio
Growth and Income Portfolio
Small Cap Portfolio
The Dreyfus Socially Responsible Growth Fund, Inc.
Dreyfus Stock Index Fund
Strong Opportunity Fund II, Inc. III
Deutsche Asset Management, VIT Funds IV
Deutsche VIT EAFE(R) Equity Index Fund
Deutsche VIT Equity 500 Index Fund
Deutsche VIT Small Cap Index Fund
Merrill Lynch Variable Series Funds, Inc. V
Basic Value Focus Fund
Global Strategy Focus Fund
High Current Income Fund
Domestic Money Market Fund
The Universal Institutional Funds, Inc. VI
Morgan Stanley UIF, Inc. Fixed Income Portfolio
Morgan Stanley UIF, Inc. U.S. Real Estate Portfolio
PBHG Insurance Series Fund, Inc. VII
PBHG Growth II Portfolio
PBHG Technology & Communications Portfolio
<PAGE>
ANNUITY INVESTORS LIFE INSURANCE COMPANY(R)
Dear Commodore Contract Owner:
I am pleased to present you with the June 30, 2000 Semiannual Reports for each
of the twenty-one Portfolios offered through the sub-accounts of Annuity
Investors(R) Variable Account A. The Portfolios are managed by leading
investment advisors such as Janus Capital Corporation, The Dreyfus Corporation,
Strong Capital Management, Inc., Bankers Trust Company, Merrill Lynch Asset
Management, L.P., Miller Anderson & Sherrerd, LLP, (a subsidiary of Morgan
Stanley Dean Witter), Morgan Stanley Asset Management, and Pilgrim Baxter &
Associates, Ltd. The broad range of investment options offered under your
Contract allows you the flexibility to implement your own personal investment
strategy and to change your mix of investments as your objectives change over
time.
In the first half of 2000, the stock market, as measured by the Standard &
Poor's 500 Composite Stock Index, showed a 0.43% decrease and the NYSE Composite
Index decreased by 8.44%. The bond market, as measured by Lehman Brothers
Aggregate Bond Index, increased by 3.99% over the same period. The performance
of the sub-accounts offered under your Contract compared favorably to the
performance of these indices, as shown by the average annual total return for
the period January 1, 2000 to June 30, 2000, below.*
Janus A.S.- Aggressive Growth Portfolio 0.94 %
Janus A.S.- Worldwide Growth Portfolio 1.43 %
Janus A.S.- Balanced Portfolio 0.09 %
Janus A.S.- Capital Appreciation Portfolio (4.59) %
Dreyfus V.I.F.- Appreciation Portfolio 2.15 %
Dreyfus V.I.F.- Growth and Income Portfolio (1.50) %
Dreyfus V.I.F.- Small Cap Portfolio 14.00 %
The Dreyfus Socially Responsible Growth Fund, Inc. 1.92 %
Dreyfus Stock Index Fund (1.16) %
Strong Opportunity Fund II, Inc. 3.44 %
Deutsche VIT- EAFE(R) Equity Index Fund (6.24) %
Deutsche VIT- Equity 500 Index Fund (1.08) %
Deutsche VIT- Small Cap Index Fund 1.69 %
Merrill Lynch V.S.F. Inc.- Basic Value Focus Fund 0.04 %
Merrill Lynch V.S.F. Inc.- Global Strategy Focus Fund (1.24) %
Merrill Lynch V.S.F. Inc.- High Current Income Fund (1.68) %
Merrill Lynch V.S.F. Inc.- Domestic Money Market Fund 1.96 %
Morgan Stanley UIF, Inc.- Fixed Income Portfolio 2.65 %
Morgan Stanley UIF, Inc.- U.S. Real Estate Portfolio 14.87 %
PBHG Insurance Series Fund, Inc.- PBHG Growth II Portfolio 19.35 %
PBHG Insurance Series Fund, Inc.- PBHG Tech. & Comm. Portfolio 16.21 %
[FN]
*Performance figures are net of all sub-account charges, but do not reflect
contingent deferred sales charges and contract maintenance fees.
</FN>
I, and my colleagues at Annuity Investors Life Insurance Company(R), look
forward to serving you in the future.
Sincerely,
/s/--------------------
Charles R. Scheper/
President
<PAGE>
The Financial Statements of the following investment companies (Registrant)
are made a part hereof and incorporated herein:
Registrant 1940 Act Number
Janus Aspen Series 811-07736
Aggressive Growth Portfolio
Capital Appreciation Portfolio
Worldwide Growth Portfolio
Balanced Portfolio
Dreyfus Variable Investment Fund 811-05125
Appreciation Portfolio
Growth and Income Portfolio
Small Cap Portfolio
The Dreyfus Socially Responsible Growth Fund, Inc. 811-07044
Dreyfus Stock Index Fund 811-05179
Strong Opportunity Fund II, Inc. 811-06552
Deutsche Asset Management, VIT Funds 811-07507
Deutsche VIT EAFE (R) Equity Index Fund
Deutsche VIT Equity 500 Index Fund
Deutsche VIT Small Cap Index Fund
Merrill Lynch Variable Series Funds, Inc. 811-03290
Basic Value Focus Fund
Domestic Money Market Fund
Global Strategy Focus Fund
High Current Income Fund
The Universal Institutional Funds, Inc. 811-07607
U.S. Real Estate Portfolio
Fixed Income Portfolio
PBHG Insurance Series Fund, Inc 811-08009
PBHG Growth II Portfolio
PBHG Technology & Communications Portfolio
<PAGE>
Annuity Investors Life Insurance Company(R)
P. O. Box 5423
Cincinnati, Ohio 45201-5423
1-800-789-6771
www.commodoreva.com
Underwritten and Distributed by:
AAG Securities, Inc.
Member NASD
250 East Fifth Street
Cincinnati, Ohio 45202
Annuity Investors(R)
Life Insurance Company
for
[commodore logo]
This report is for the information of the contract owners and participants of
Annuity Investors Life Insurance Company and Annuity Investors Variable Account
A. It is authorized for distribution to other persons only when preceded or
accompanied by a current prospectus, which contains complete information,
including charges and expenses. For a current prospectus, please call
1-800-789-6771. Please read it carefully before you invest or send money.
3214 (8/00) (IMSA Logo)
