As filed with the Securities and Exchange Commission on May 3, 2005
Registration No. 333-51955
Registration No. 811-08017

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933		o
	Pre-Effective Amendment No.	o
	Post-Effective Amendment No. 10	þ

and

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940		o
	Pre-Effective Amendment No.	o
	Post-Effective Amendment No. 42	þ

(Check appropriate box or boxes)

ANNUITY INVESTORS VARIABLE ACCOUNT B

(Exact Name of Registrant)

ANNUITY INVESTORS LIFE INSURANCE COMPANY ®

(Name of Depositor)

P.O. Box 5423
Cincinnati, Ohio 45201-5423
(Address of Depositor’s Principal Executive Offices)
Depositor’s Telephone Number (800) 789-6771

	Copy to:
MARK F. MUETHING, ESQ.	JOHN P. GRUBER, ESQ.
Executive Vice President, General Counsel and Secretary	Vice President
Annuity Investors Life Insurance Company	Annuity Investors Life Insurance Company
P.O. Box 5423	P.O. Box 5423
Cincinnati, Ohio 45201-5423	Cincinnati, Ohio 45201-5423
(Name and Address of Agent for Service)
	Kevin L. Cooney, Esq.
	Frost Brown Todd LLC
	2200 PNC Center
	201 East Fifth Street
	Cincinnati, Ohio 45202-4182

Approximate Date of Proposed Public Offering: Continuous Offering

It is proposed that this filing will become effective (check appropriate box)
	þ	immediately upon filing pursuant to paragraph (b) of rule 485
	o	on (date) pursuant to paragraph (b) of Rule 485
	o	60 days after filing pursuant to paragraph (a)(1) of Rule 485
	o	on (date) pursuant to paragraph (a)(1) of Rule 485
	o	75 days after filing pursuant to paragraph (a)(2) of Rule 485
If appropriate, check the following box:
	o	this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

EXPLANATORY NOTE

This Post-Effective Amendment to the Registration Statement on Form N-1A of Annuity Investors Variable Account B, The Commodore Independence Variable Annuity, is being filed pursuant to Rule 485(b) of the Securities Act of 1933 (the “1933 Act”) for the sole purpose of filing certain exhibits to the Registrant’s Registration Statement. The form of the Prospectus of the Registrant has not been changed from that contained in the filing made by the Registrant on April 29, 2005 pursuant to Rule 485(b) under the 1933 Act and it is hereby incorporated by reference. The form of the Statement of Additional Information of the Registrant has not been changed from that contained in the filing made by the Registrant on April 29, 2005 pursuant to Rule 485(b) under the 1933 Act and it is hereby incorporated by reference.

PART C

Other Information — 333-51955

Item 24 Financial Statements and Exhibits

Financial Statements

All required financial Statements are included in Parts A or B of this Registration Statement.

(b)  Exhibits

(1	)	Resolution of the Board of Directors of Annuity Investors Life Insurance Company® authorizing establishment of Annuity Investors Variable Account B.1/
(2	)	Not Applicable.
(3	)	(a)	Distribution Agreement between Annuity Investors Life Insurance Company® and AAG Securities, Inc. (n/k/a Great American Advisors®, Inc.).2/
			(i)   Amended Schedule 1 to Distribution Agreement. 3/
		(b)	Revised Form of Selling Agreement between Annuity Investors Life Insurance Company®, AAG Securities, Inc. (n/k/a Great American Advisors®, Inc.) and another Broker-Dealer. 5/
(4	)	Individual and Group Contract Forms and Endorsements.
		(a)	Form of No-Load Qualified Individual Flexible Premium Deferred Variable Annuity Contract.3/
		(b)	Form of No-Load Non-Qualified Individual Flexible Deferred Variable Annuity Contract.3/
		(c)	Form of Individual Retirement Annuity Endorsement to Individual Qualified Contract.3/
		(d)	Form of SIMPLE IRA Endorsement to Qualified Individual Contract.3/
		(e)	Form of Roth IRA Endorsement to Qualified Individual Contract. 3/
		(f)	Form of Employer Plan Endorsement to Qualified Individual Contract.3/
		(g)	Form of Tax Sheltered Annuity Endorsement to Qualified Individual Contract. 3/
		(h)	Form of Qualified Pension, Profit Sharing and Annuity Plan Endorsement Qualified Individual Contract. 3/
		(i)	Form of Governmental Section 457 Plan Endorsement to Qualified Individual Contract. 3/
		(j)	Form of Texas Optional Retirement Program Endorsement to Individual Contract. 2/
		(k)	Form of Long-Term Care Waiver Raider to Individual Contract. 2/
		(l)	Form of Loan Endorsement to Individual Contract. 3/
		(m)	Form of Group Flexible Premium Deferred Variable Annuity Contract. 10/
		(n)	Form of Certificate of Participation under a Group Flexible Premium Deferred Variable Annuity Contract. 10/
		(o)	Form of Loan Endorsement to Group Contract. 2/
		(p)	Form of Loan Endorsement to Certificate of Participation under a Group Contract. 2/

		(q)	Form of Tax Sheltered Annuity Endorsement to Group Contract. 7/
		(r)	Form of Tax Sheltered Annuity Endorsement to Certificate of Participation under a Group Contract. 7/
		(s)	Form of Qualified Pension, Profit Sharing and Annuity Plan Endorsement to Group Contract. 7/
		(t)	Form of Qualified Pension, Profit Sharing and Annuity Plan Endorsement to Certificate of Participation under Group Contract. 2/
		(u)	Form of Employer Plan Endorsement to Group Contract. 7/
		(v)	Form of Employer Plan Endorsement to Certificate of Participation under a Group Contract. 7/
		(w)	Form of Deferred Compensation Endorsement to Group Contract. 2/
		(x)	Form of Deferred Compensation Endorsement to Certificate of Participation a Group Contract. 2/
		(y)	Form of Texas Optional Retirement Program Endorsement to Group Contract. 2/
		(z)	Form of Texas Optional Retirement Program Endorsement to Certificate of Participation under a Group Contract. 2/
		(aa)	Form of Governmental Section 457 Plan Endorsement to Group Contract. 7/
		(bb)	Form of Governmental Section 457 Plan Endorsement to Certificate of Participation under a Group Contract. 7/
		(cc)	Form of Successor Owner Endorsement to Group Contract. 10/
		(dd)	Form of Successor Owner Endorsement to Certificate of Participation under a Group Contract. 10/
		(ee)	Form of Successor Owner Endorsement to Qualified Individual Contract and Non-Qualified Individual Contract. 10/
		(ff)	Revised Form of Employer Plan Endorsement to Group Contract. 3/
		(gg)	Revised Form of Employer Plan Endorsement to Certificate of Participation under a Group Contract. 3/
		(hh)	Form of Individual Retirement Annuity Endorsement to Group Contract. 6/
		(ii)	Form of Individual Retirement Annuity Endorsement to Certificate of Participation under a Group Contract. 6/
		(jj)	Form of SIMPLE Individual Retirement Annuity Endorsement to Group Contract. 6/
		(kk)	Form of SIMPLE Individual Retirement Annuity Endorsement to Certificate of Participation under a Group Contract. 6/
		(ll)	Form of Roth Individual Retirement Annuity Endorsement to Group Contract. 6/
		(mm)	Form of Roth Individual Retirement Endorsement to Certificate of Participation under a Group Contract. 6/
		(nn)	Form of Unisex Endorsement to Non-Qualified Individual Contract. 7/
(5	)	(a)	Form of Application for Individual Flexible Premium Deferred Annuity Contract and Certificate of Participation under a Group Contract. 3/
		(b)	Form of Application for Group Flexible Premium deferred Annuity Contract. 8/
		(c)	Revised Form of Application for Group Flexible Premium Deferred Annuity Contract. 4/
		(d)	Revised Form of Application for Individual Flexible Premium Deferred Annuity Contract and Certificate of Participation under a Group Contract. 12/
(6	)	(a)	Articles of Incorporation of Annuity Investors Life Insurance Company. ® 1/

			(i)	Amendment to Articles of Incorporation, adopted April 9, 1996. 2/
			(ii)	Amendment to Articles of Incorporation adopted August 9, 1996. 2/
			(iii)	Approval by Secretary of State of Ohio on December 3, 1996. 2/
		(b)	Code of Regulations of Annuity Investors Life Insurance Company®.1/
(7	)	Not Applicable.
(8	)	(a)	Participation Agreement between Annuity Investors Life Insurance Company ® and Dreyfus Variable Investment Fund.2/
			(i)	Letter of Agreement dated April 14, 1997 between Annuity Investors Life Insurance Company® and Dreyfus Variable Investment Fund. 2/
		(b)	Participant Agreement between Annuity Investors Life Insurance Company® and Dreyfus Stock Index Fund.2/
			(i)	Letter of Agreement dated April 14, 1997 between Annuity Investors Life Insurance Company ® and Dreyfus Stock Index Fund. 2/
		(c)	Participation Agreement between Annuity Investors Life Insurance Company® and The Dreyfus Socially Responsible Growth Fund, Inc.2/
			(i)	Letter of Agreement dated April 14, 1997 between Annuity Investors Life Insurance Company ® and The Dreyfus Socially Responsible Growth Fund, Inc. 2/
		(d)	Participation Agreement between Annuity Investors Life Insurance Company® and Janus Aspen Series. 2/
			(i)	Amended Schedule A to Participation Agreement between Annuity Investors Life Insurance Company ® and Janus Aspen Series. 3/
		(e)	Letter of Agreement between Annuity Investors Life Insurance Company® and Wells Fargo Funds Distributor, LLC and in some cases Wells Fargo Funds Management, LLC on behalf of the Wells Fargo Fund Family. 15/
		(f)	Participation Agreement between Annuity Investors Life Insurance Company® and INVESCO Variable Investment Funds, Inc. 2/
			(i)	Amended Schedule B to Participation Agreement between Annuity Investors Life Insurance Company ® and INVESCO Variable Investment Funds, Inc. 2/
			(ii)	Amendment dated October 31, 2001 by and between Annuity Investors Life Insurance Company ®, INVESCO Funds Groups, Inc. and INVESCO Variable Investment Funds, Inc. 14/
			(iii)	Amendment to Amended and Restated Fund Participation Agreement effective as of January 26, 2004 by and between Annuity Investors Life Insurance Company ®, INVESCO Funds Groups, Inc. and INVESCO Variable Investment Funds, Inc. 14/
		(g)	Participation Agreement between Annuity Investors Life Insurance Company® and Morgan Stanley Universal Institutional Funds, Inc.(n/k/a Van Kampen Universal Institutional Funds, Inc.) 3/
			(i)	Amended Schedule B to Participation Agreement between Annuity Investors Life Insurance Company ® and Morgan Stanley Universal Institutional Funds, Inc. ( n/k/a Van Kampen Universal Institutional Funds Inc .) 3/
		(h)	Participation Agreement between Annuity Investors Life Insurance Company® and PBHG Insurance Series Fund, Inc. 2/

			(i)	Amendment to Fund Participation Agreement dated December 8, 2003 by and among PBHG Insurance Series Fund Piligram Baxter & Associates, Ltd. and Annuity Investors Life Insurance Company ®. 14/
		(i)	Service Agreement between Annuity Investors Life Insurance Company Ò and American Annuity Group, Inc. (n/k/a Great American Financial Resources Ò , Inc.). 2/
		(j)	Agreement between AAG Securities, Inc. (n/k/a Great American Advisors ®, Inc.) and AAG Insurance Agency, Inc. 2/
		(k)	Investment Services Agreement between Annuity Investors Life Insurance Company ® and American Annuity Group, Inc. (n/k/a Great American Financial Resources ®, Inc.). 2/
		(m)	Service Agreement between Annuity Investors Life Insurance Company ® and Pilgrim Baxter & Associates, Ltd. 2/
		(n)	Participation Agreement between Annuity Investors Life Insurance Company ® and Morgan Stanley Universal Institutional Funds, Inc. Annuity Investors Life Insurance Company. ® 2/
		(o)	Service Agreement between Annuity Investors Life Insurance Company ® and Janus Capital Corporation. 2/
		(p)	Service Agreement between INVESCO Funds Inc. and Annuity Investors Life Insurance Company ®. 4/
		(q)	Participation Agreement between The Timothy Plan Variable Series, Timothy Partners, Ltd. and Annuity Investors Life Insurance Company ®. 4/
		(r)	Service Agreement between The Timothy Plan Variable Series and Annuity Investors Life Insurance Company®. 4/
		(s)	Participation Agreement between BT Insurance Funds (f/k/a Deutsche Asset Management VIT Funds n/k/a/ Scudder VIT Funds) Bankers Trust (f/k/a Deutsche Asset Management n/k/a Scudder Investments) and Annuity Investors Life Insurance Company ®. 8/
		(t)	Service Agreement between Deutsche Asset Management and Annuity Investors Life Insurance Company®.8/
		(u)	Participation Agreement between the Timothy Plan Variable Series, Timothy Partners, Ltd. and Annuity Investors Life Insurance Company. ®13/
		(v)	Service Agreement between the Timothy Plan Variable Series, Timothy Partners, Ltd. and Annuity Investors Life Insurance Company.® 13/
		(w)	Participation Agreement between Annuity Investors Life Insurance Company® and the Oppenheimer Variable Account Funds.15/
(9)		Opinion and Consent of Counsel.1/
(10	)	Consent of Independent Registered Public Accounting Firm. 17/
(11	)	Not Applicable.
(12	)	Not Applicable.
(13	)	Schedule for Computation of Performance Quotations. 8/
(14	)	Not Applicable.
(15	)	Powers of Attorney.16/

1/	Incorporated by reference to Form N-4 filed on behalf of Annuity Investors® Variable Account B, SEC Act ‘33 File No. 333-19725, ‘40 Act File No. 811-08017 on December 23, 1996.
2/	Incorporated by reference to Pre-Effective Amendment No. 1 filed on behalf of Annuity Investors® Variable Account B, SEC File No. 333-19725 on June 3, 1997.
3/	Filed with Form N-4 on May 6, 1998.
4/	Filed with Pre-Effective Amendment No.1 on July 6, 1998.

5/	Incorporated by reference to Post-Effective Amendment No. 3 filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on November 17, 1998.
6/	Incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on February 1, 1999.
7/	Incorporated by reference to Post-Effective Amendment No. 1, filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on February 27, 1998.
8/	Incorporated by reference to Post-Effective Amendment No. 2, filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on April 29, 1998.
9/	Incorporated by reference to Post-Effective Amendment No. 5, filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on February 26, 1999.
10/	Filed with Post Effective Amendment No. 1, on February 26, 1999.
11/	Incorporated by reference to Post-Effective Amendment No. 7 filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on April 28, 2000.
12/	Incorporated by reference to Post-Effective Amendment No. 8 filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on April 30, 2001.
13/	Incorporated by reference to Post-Effective Amendment No. 9 filed on behalf of Annuity Investors® Variable Account B, SEC ‘33 Act File No. 333-19725, ‘40 Act File No. 811-08017 on April 30, 2002.
14/	Incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of Annuity Investors® Variable Account C, SEC ’33 Act File No. 333-88300, ‘40 Act File No. 811-21095 on or about April 29, 2004.
15/	Filed with Post-Effective Amendment No. 10 filed on behalf of Annuity Investors® Variable Account A, SEC File No. 033-65409 on or about April 29, 2005.
16/	Filed with Post-Effective Amendment No. 9 filed on behalf of Annuity Investors® Variable Account B, SEC File No. 333-51955 on or about April 29, 2005.
17/	Filed herewith.

Item 25. Directors and Officers of Annuity Investors Life Insurance Company ^®

	Principal			Positions and Offices
Name	Business Address			With the Company
Charles R. Scheper		(1	)	President & Chief Executive Officer and Director
Stephen Craig Lindner		(1	)	Director
Mark Francis Muething		(1	)	Executive Vice President, Secretary, General Counsel & Secretary and Director
Christopher P. Miliano		(1	)	Director
Michael J. Prager		(1	)	Director
Adrienne Kessling		(1	)	Senior Vice President-Operations
Catherine A. Crume		(1	)	Senior Vice President-Licensing & Commissions
John P. Gruber		(1	)	Vice President
James L. Henderson		(1	)	Vice President
John O’Shaughnessy		(1	)	Vice President & Actuary
Gary L. Peters		(1	)	Vice President-Variable Annuity Sales
Dale Herr		(1	)	Assistant Vice President & Actuary
D. Quentin Reynolds		(1	)	Assistant Vice President
Rebecca J. Schriml		(1	)	Assistant Vice President
Richard Sutton		(1	)	Assistant Vice President & Chief Actuary
Richard L. Magoteaux		(1	)	Treasurer
William C. Ellis		(1	)	Assistant Treasurer
Thomas E. Mischell		(1	)	Assistant Treasurer

Item 26. Persons Controlled By or Under Common Control with the Depositor and Registrant

The Depositor, Annuity Investors Life Insurance Company ^® is a wholly-owned subsidiary of Great American ^® Life Insurance Company, which is a wholly-owned subsidiary of Great American Financial Resources ^® , Inc. (f/k/a American Annuity Group, ^SM Inc.) The Registrant,
The Depositor, Annuity Investors Life Insurance Company ^®, is a wholly-owned subsidiary of Great American ^® Life Insurance Company, Annuity Investors ^® Variable Account B, is a segregated asset account of Annuity Investors Life Insurance Company. ^®

The following chart indicates the persons controlled by or under common control with the Company:

12

		Date of	% of Stock Owned by
Company	State of Domicile	Incorporation	Parent			Nature of Business
American Financial Group, Inc.	Ohio	07/01/1997				Diversified Financial Holding Company
American Financial Capital Trust I	Delaware	09/14/1996		100		Statutory Business Trust
American Financial Enterprises, Inc.	Connecticut	01/01/1871		100	(2)	Closed End Investment Company
American Money Management Corporation	Ohio	03/01/1973		100		Securities Management Company
American Security Transfer Company Limited Partnership	Ohio	01/01/1991		9334	(2)	Limited Partnership
APU Holding Company	Ohio	10/15/2003		100		Holding Company
American Premier Underwriters, Inc.	Pennsylvania	04/13/1846		100		Diversified Company
The Ann Arbor Railroad Company	Michigan	09/21/1895		99		Inactive
The Associates of the Jersey Company	New Jersey	11/10/1804		100		Inactive
Cal Coal, Inc.	Illinois	05/30/1979		100		Inactive
Delbay Corporation	Delaware	12/27/1962		100		Inactive
Great Southwest Corporation	Delaware	10/25/1978		100		Real Estate Developer
World Houston, Inc.	Delaware	05/30/1974		100		Real Estate Developer
The Indianapolis Union Railway Company	Indiana	11/19/1872		100		Inactive
Lehigh Valley Railroad Company	Pennsylvania	04/21/1846		100		Inactive
Magnolia Alabama Holdings, Inc.	Delaware	05/18/2004		100		Holding Company
Magnolia Alabama Holdings LLC	Alabama	05/24/2004		100		Real Estate
The Owasco River Railway, Inc.	New York	06/02/1881		100		Inactive
PCC Real Estate, Inc.	New York	12/15/1986		100		Holding Company
PCC Chicago Realty Corp	New York	12/23/1986		100		Real Estate Developer
PCC Gun Hill Realty Corp	New York	12/18/1985		100		Real Estate Developer
PCC Michigan Realty, Inc.	Michigan	11/09/1987		100		Real Estate Developer
PCC Scarsdale Realty Corp	New York	06/01/1986		100		Real Estate Developer
Scarsdale Depot Associates, LP	Delaware	05/05/1989		80		Real Estate Developer
PCC Technical Industries, Inc.	California	03/07/1955		100		Holding Company
ESC, Inc.	California	11/02/1962		100		Inactive
Marathon Manufacturing Companies, Inc.	Delaware	11/18/1983		100		Holding Company
Marathon Manufacturing Company	Delaware	12/07/1979		100		Inactive
PCC Maryland Realty Corp	Maryland	08/18/1993		100		Real Estate Holding Company
Penn Camarillo Realty Corp	California	11/24/1992		100		Real Estate Holding Company
Penn Central Energy Management Company	Delaware	05/11/1987		100		Inactive
Penn Towers, Inc.	Pennsylvania	08/01/1958		100		Inactive
Pennsylvania-Reading Seashore Lines	New Jersey	06/14/1901		6667		Inactive
Pittsburgh and Cross Creek Railroad Company	Pennsylvania	08/14/1970		83		Inactive
Terminal Realty Penn Co	District of Columbia	09/23/1968		100		Inactive

13

		Date of	% of Stock Owned by
Company	State of Domicile	Incorporation	Parent		Nature of Business
United Railroad Corp	Delaware	11/25/1981		100	Inactive
Detroit Manufacturers Railroad Company	Michigan	01/30/1902		82	Inactive
Waynesburg Southern Railroad Company	Pennsylvania	09/01/1966		100	Inactive
GAI (Bermuda) Ltd	Bermuda	04/06/1998		100	Holding Company
GAI Insurance Company, Ltd	Bermuda	09/18/1989		100	Reinsurance
Hangar Acquisition Corp	Ohio	10/06/1995		100	Aircraft Investment
The New York and Harlem Railroad Company	New York	04/25/1831		97	Inactive
PLLS, Ltd	Washington	05/14/1990		100	Insurance Agency
Premier Lease & Loan Services Insurance Agency, Inc.	Washington	12/27/1983		100	Insurance Agency
Premier Lease & Loan Insurance Services BV	The Netherlands	08/24/1999		100	Insurance Agency
Premier Lease & Loan Services of Canada, Inc.	Washington	02/28/1991		100	Insurance Agency
Republic Indemnity Company of America	California	12/05/1972		100	Workers’ Compensation Insurance
Republic Indemnity Company of California	California	10/13/1982		100	Workers' Compensation Insurance
Republic Indemnity Medical Management, Inc.	California	03/25/1996		100	Inactive
Risico Management Corporation	Delaware	01/10/1989		100	Risk Management
Dixie Terminal Corporation	Ohio	04/23/1970		100	Real Estate Holding Company
Fairmont Holdings, Inc.	Ohio	12/15/1983		100	Holding Company
Flextech Holding Co, Inc.	Ohio	08/31/2000		100	Packing Manufacturer
FWC Corporation	Ohio	03/16/1983		100	Financial Services Company
Great American Holding, Inc.	Ohio	07/25/2002		100	Holding Company
American Empire Surplus Lines Insurance Company	Delaware	07/15/1977		100	Excess and Surplus Lines Insurance
American Empire Insurance Company	Ohio	11/26/1979		100	Property/Casualty Insurance
American Empire Underwriters, Inc.	Texas	05/19/1976		100	Insurance Agency
Great American International Insurance Limited	Ireland	01/05/2004		100	Insurance Company
Mid-Continent Casualty Company	Oklahoma	02/26/1947		100	Property/Casualty Insurance
Mid-Continent Insurance Company	Oklahoma	08/13/1992		100	Property/Casualty Insurance
Oklahoma Surety Company	Oklahoma	08/05/1968		100	Special Coverage Insurance Company
Great American Insurance Company	Ohio	03/07/1872		100	Property/Casualty Insurance
AFC Coal Properties, Inc.	Ohio	12/18/1996		100	Coal Mining Company
American Signature Underwriters, Inc.	Ohio	04/08/1996		100	Insurance Agency
American Special Risk, Inc.	Illinois	12/29/1981		100	Insurance Broker/Managing General Agency
Aviation Specialty Managers, Inc.	Texas	09/07/1965		100	Managing General Agency
Brothers Property Corporation	Ohio	09/08/1987		80	Real Estate Manager
Brothers Pennsylvanian Corporation	Pennsylvania	12/23/1994		100	Real Estate Manager
Brothers Port Richey Corporation	Florida	12/06/1993		100	Real Estate Manager
Brothers Property Management Corporation	Ohio	09/25/1987		100	Real Estate Management

14

		Date of	% of Stock Owned by
Company	State of Domicile	Incorporation	Parent			Nature of Business
Brothers Railyard Corporation	Texas	12/14/1993		100		Real Estate Manager
Crop Managers Insurance Agency, Inc.	Kansas	08/09/1989		100		Insurance Agency
Dempsey & Siders Agency, Inc.	Ohio	05/09/1956		100		Insurance Agency
El Aguila, Compañia de Seguros, SA de CV	Mexico	11/24/1994		100		Property/Casualty Insurance
Financiadora de Primas Condor, SA de CV	Mexico	03/16/1998		99		Premium Finance
FCIA Management Company, Inc.	New York	09/17/1991		100		Servicing Agent
GAI Warranty Company	Ohio	01/25/2001		100		Service Warranty Provider
GAI Warranty Company of Florida	Florida	03/23/2001		100		Service Warranty Provider
GAI Warranty Company of Canada Inc.	Ontario	04/17/2002		100		Service Contract Provider
	(Toronto, CN)
The Gains Group, Inc.	Ohio	01/26/1982		100		Marketing of Advertising
Global Premier Finance Company	Ohio	08/25/1998		100		Premium Finance
Great American Agency of Texas, Inc.	Texas	01/25/1994		100		Managing General Agency
Great American Alliance Insurance Company	Ohio	09/11/1945		100		Property/Casualty Insurance
Great American Assurance Company	Ohio	03/23/1905		100		Property/Casualty Insurance
Great American Claims Services, Inc.	Delaware	06/10/1986		100		Management Holding Company
Great American Contemporary Insurance Company	Ohio	04/16/1996		100		Property/Casualty Insurance
Great American Custom Insurance Services Illinois, Inc.	Illinois	07/08/1992		100		Underwriting Office
Great American Custom Insurance Services, Inc.	Ohio	07/27/1983		100		Holding Company for E&S Agency/Brokerage
Eden Park Insurance Brokers, Inc.	California	02/13/1990		100		Wholesale Agency/Brokerage for E&S Lines
Great American Custom Insurance Services California, Inc.	California	05/18/1992		100		Insurance Services
Great American Custom Insurance Services Massachusetts, Inc.	Massachusetts	04/11/1994		100		Excess and Surplus Lines Broker
Great American Custom Solutions, Inc.	California	07/22/1988		100		Insurance Agency
Professional Risk Brokers of Connecticut, Inc.	Connecticut	07/09/1992		100		Wholesale Agency/Brokerage for E&S Lines
Professional Risk Brokers of Ohio, Inc.	Ohio	12/17/1986		100		Insurance Agency
Professional Risk Brokers, Inc.	Illinois	03/01/1990		100		Wholesale Agency/Brokerage for E&S Lines
Great American E & S Insurance Company	Delaware	02/28/1979		100		Excess and Surplus Lines Insurance
Great American Fidelity Insurance Company	Delaware	01/12/1982		100		Excess and Surplus Lines Insurance
Great American Financial Resources, Inc.	Delaware	11/23/1992		8188	(2)	Insurance Holding Company
AAG Holding Company, Inc.	Ohio	09/11/1996		100		Holding Company
American Annuity Group Capital Trust I	Delaware	09/13/1996		100		Financing Entity
American Annuity Group Capital Trust II	Delaware	03/04/1997		100		Financing Entity
American Annuity Group Capital Trust III	Delaware	05/14/1997		100		Financing Entity
Great American Financial Statutory Trust IV	Connecticut	04/21/2003		100		Financing Entity
Great American Life Insurance Company	Ohio	12/15/1959		100		Life Insurance Company
American Retirement Life Insurance Company	Ohio	05/12/1978		100		Life Insurance Company

15

		Date of	% of Stock Owned by
Company	State of Domicile	Incorporation	Parent			Nature of Business
Annuity Investors Life Insurance Company	Ohio	11/13/1981		100		Life Insurance Company
Brothers Management, LLC	Florida	06/11/2004		99		Restaurants & Ships Store
Charleston Harbor Marina, Inc.	South Carolina	04/26/2002		100	(2)	Marina Facility
CHATBAR, Inc.	Massachusetts	11/02/1993		100		Hotel Operator
Chatham Enterprises, Inc.	Massachusetts	03/29/1954		100		Real Estate Holding Company
Consolidated Financial Corporation	Michigan	09/10/1985		100		Retirement & Financial Planning Company
Driskill Holdings, Inc.	Texas	06/07/1995	beneficial interest			Real Estate Manager
GALIC Brothers, Inc.	Ohio	11/12/1993		80		Real Estate Management
Great American Life Assurance Company	Ohio	08/10/1967		100		Life Insurance Company
Great American Life Insurance Company of New York	New York	12/31/1963		100		Life Insurance Company
Loyal American Life Insurance Company	Ohio	05/18/1955		100		Life Insurance Company
ADL Financial Services, Inc.	North Carolina	09/10/1970		100		Inactive
Purity Financial Corporation	Florida	12/12/1991		100		Credit Union Marketing
Manhattan National Life Insurance Company	Illinois	12/20/1956		100		Life Insurance Company
Skipjack Marina Corp	Maryland	06/24/1999		100		Marina Operator
United Teacher Associates, Ltd	Texas	12/17/1998		100	(2)	Holding Company - Limited Partnership
United Teacher Associates Insurance Company	Texas	12/15/1958		100		Life Insurance Company
United Agency Brokerage GP Inc.	Texas	05/19/2003		100		Intermediate Holding Company
United Agency Brokerage, LP	Texas	05/19/2003		100		Insurance Agency
AAG Insurance Agency of Alabama	Alabama	09/22/1995		100		Insurance Agency
AAG Insurance Agency of Texas, Inc.	Texas	06/02/1995		100		Insurance Agency
AAG Insurance Agency, Inc.	Kentucky	12/06/1994		100		Insurance Agency
AAG Insurance Agency of Massachusetts, Inc.	Massachusetts	05/25/1995		100		Insurance Agency
American DataSolutions International, Inc.	Ohio	08/24/2001		100		Data Processing and Holding Company
American Data Source India Private Limited	India	09/03/1997		99		Software Development
GALIC Disbursing Company	Ohio	05/31/1994		100		Payroll Servicer
Great American Advisors, Inc.	Ohio	12/10/1993		100		Broker-Dealer
Great American Life Assurance Company of Puerto Rico	Puerto Rico	07/01/1964		99		Insurance Company
Keyes-Graham Insurance Agency, Inc.	Massachusetts	08/07/1981		100		Insurance Agency
Lifestyle Financial Investments, Inc.	Ohio	12/29/1993		100		Marketing Services
Lifestyle Financial Investments Agency of Ohio, Inc.	Ohio	03/07/1994	beneficial interest			Insurance Agency
Money-Plan International, Inc.	Florida	12/31/1979		100		Insurance Agency
SPELCO (UK) Ltd	United Kingdom			99		Inactive
SWTC Hong Kong Ltd	Hong Kong			100		Inactive
SWTC, Inc.	Delaware			100		Inactive
Great American Insurance Agency, Inc.	Ohio	04/20/1999		100		Insurance Agency

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		Date of	% of Stock Owned by
Company	State of Domicile	Incorporation	Parent		Nature of Business
Great American Insurance Company of New York	New York	08/22/1947		100	Property/Casualty Insurance
Great American Lloyd’s Insurance Company	Texas	10/09/1979	beneficial interest		Lloyd’s Plan Insurer
Great American Lloyd’s, Inc.	Texas	08/02/1983		100	Corporate Attorney-in-Fact
Great American Management Services, Inc.	Ohio	12/05/1974		100	Data Processing and Equipment Leasing
Great American Protection Insurance Company	Ohio	01/08/1990		100	Surplus Lines Insurance
Great American Re Inc.	Delaware	05/14/1971		100	Reinsurance Intermediary
Great American Security Insurance Company	Ohio	07/01/1987		100	Property/Casualty Insurance
Great American Spirit Insurance Company	Ohio	04/05/1988		100	Property/Casualty Insurance
Grizzly Golf Center, Inc.	Ohio	11/08/1993		100	Golf Course Management
Key Largo Group, Inc.	Florida	02/25/1969		100	Land Developer
National Interstate Corporation	Ohio	01/26/1989		58	Holding Company
American Highways Insurance Agency (OH)	Ohio	06/29/1999		100	Insurance Agency
Explorer RV Insurance Agency, Inc.	Ohio	07/17/1997		100	Insurance Agency
Hudson Indemnity, Ltd	Cayman Islands	06/12/1996		100	Property/Casualty Insurance
Hudson Management Group, Ltd	Virgin Islands	07/29/2004		100	Insurance Administrative Services
National Interstate Capital Trust I	Delaware	05/22/2003		100	Financing Entity
National Interstate Insurance Agency, Inc.	Ohio	02/13/1989		100	Insurance Agency
Commercial For Hire Transportation Purchasing Group	South Carolina	01/23/2004	beneficial interest		Purchasing Group
National Interstate Insurance Company	Ohio	02/10/1989		100	Property/Casualty Insurance
National Interstate Insurance Company of Hawaii, Inc.	Hawaii	09/20/1999		100	Property/Casualty Insurance
Safety, Claims & Litigation Services, Inc.	Pennsylvania	06/23/1995		100	Claims Third Party Administrator
Penn Central UK Limited	United Kingdom	10/28/1992		100	Insurance Holding Company
Insurance (GB) Limited	United Kingdom	05/13/1992		100	Property/Casualty Insurance
PLLS Canada Insurance Brokers Inc.	Ontario	06/13/2001		49	Insurance Agency
	(Toronto, CN)
Premier Dealer Services, Inc.	Illinois	06/24/1998		100	Third Party Administrator
Worldwide Casualty Insurance Company	Ohio	02/17/1981		100	Property/Casualty Insurance
One East Fourth, Inc.	Ohio	02/03/1964		100	Real Estate Holding Company
Pioneer Carpet Mills, Inc.	Ohio	04/29/1976		100	Inactive
Superior NWVN of Ohio, Inc.	Ohio	05/05/2000		100	Holding Company
TEJ Holdings, Inc.	Ohio	12/04/1984		100	Real Estate Holding Company
Three East Fourth, Inc.	Ohio	08/10/1966		100	Real Estate Holding Company

(2) Total percentage owned by parent shown and by other affiliated company(s)

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Item 27. Number of Certificate Owners

As of March 31, 2005, there were 1032 Individual Contract Owners, of which 394 were qualified and 638 were non-qualified. As of March 31, 2005 there were 390 Participants (Certificate Owners) in 10 Group Contracts.

Item 28. Indemnification

(a)	The Code of Regulations of Annuity Investors Life Insurance Company ® provides in Article V as follows:
	The Corporation shall, to the full extent permitted by the General Corporation Law of Ohio, indemnify any person who is or was director or officer of the Corporation and whom it may indemnify pursuant thereto. The Corporation may, within the sole discretion of the Board of Directors, indemnify in whole or in part any other persons whom it may indemnify pursuant thereto.
	Insofar as indemnification for liability arising under the Securities Act of 1933 (“1933 Act”) may be permitted to directors, officers and controlling persons of the Depositor pursuant to the foregoing provisions, or otherwise, the Depositor has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the 1933 Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Depositor of expenses incurred or paid by the director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Depositor will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the 1933 Act and will be governed by the final adjudication of such issue.
(b)	The directors and officers of Annuity Investors Life Insurance Company are covered under a Directors and Officers Reimbursement Policy. Under the Reimbursement Policy, directors and officers are indemnified for loss arising from any covered claim by reason of any Wrongful Act in their capacities as directors or officers, except to the extent the Company has indemnified them. In general, the term “loss” means any amount which the directors or officers are legally obligated to pay for a claim for Wrongful Acts. In general, the term “Wrongful Acts” means any breach of duty, neglect, error, misstatement, misleading statement, omission or act by a director or officer while acting individually or collectively in their capacity as such claimed against them solely by reason of their being directors and officers. The limit of liability under the program is $20,000,000 for the policy year ending September 1,

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2005.   The primary policy under the program is with National Union Fire Insurance Company of Pittsburgh, PA, in the name of American Premier Underwriters, Inc.

Item 29. Principal Underwriter

Great American Advisors^®, Inc. is the underwriter and distributor of the Contracts as defined in the Investment Company Act of 1940 (“1940 Act”). It is also the underwriter and distributor of Annuity Investors^ÒVariable Account B.

(a)	Great American Advisors®, Inc. does not act as a principal underwriter, depositor, sponsor or investment adviser for any investment company other than Annuity Investors® Variable Account A, Annuity Investors® Variable Account B, and Annuity Investors® Variable Account C.
(b)	Directors and Officers of Great American Advisors®, Inc.

Name and Principal	Position with
Business Address	Great American Advisors®, Inc.
James Lee Henderson (1)	President — Chief Compliance Officer
James T. McVey (1)	Chief Operating Officer and Senior Vice President
Mark Francis Muething (1)	Vice President, Secretary and Director
Peter J. Nerone (1)	Vice President
Paul Ohlin (1)	Treasurer
Fred J. Runk (1)	Assistant Treasurer

(1) 525 Vine Street, 7^th Floor, Cincinnati, Ohio 45202.

(c)   Required Commission information is included in Part B of this Registration Statement.

Item 30. Location of Accounts and Records

All accounts and records required to be maintained by Section 31(a) of the 1940 Act and the rules under it are maintained by Richard L. Magoteaux, Treasurer of the Company at the Administrative Office.

Item 31. Management Services

Not Applicable

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Item 32. Undertakings

(a)	Registrant undertakes that it will file a post-effective amendment to this registration statement as frequently as necessary to ensure that the audited financial statements in the registration statement are never more than 16 months old for so long as payments under the variable annuity contracts may be accepted.
(b)	Registrant undertakes that it will include either (1) as part of any application to purchase a Contract or Certificate offered by the Prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a post card or similar written communication affixed to or included in the Prospectus that the applicant can remove to send for a Statement of Additional Information.
(c)	Registrant undertakes to deliver any Prospectus and Statement of Additional Information and any financial statements required to be made available under this Form promptly upon written or oral request to the Company at the address or phone number listed in the Prospectus.
(d)	The Company represents that the fees and charges deducted under the Contract, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by the Company.

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SIGNATURES

As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it has caused this Post-Effective Amendment No. 10 to its Registration Statement to be signed on its behalf by the undersigned in the City of Cincinnati, State of Ohio on the 2nd of May, 2005.

ANNUITY INVESTORS^® VARIABLE ACCOUNT B
(Registrant)

By: /s/ Charles R. Scheper
Charles R. Scheper*
President,
Chief Executive Officer and Director
Annuity Investors Life Insurance Company^®

ANNUITY INVESTORS LIFE INSURANCE COMPANY^®
(Depositor)

By: /s/ Charles R. Scheper
Charles R. Scheper*
President,
Chief Executive Officer and Director

As required by the Securities Act of 1933, as amended, this Post-Effective Amendment No. 10 to the Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

/s/ Charles R. Scheper	Chief Executive Officer and Director	May 2, 2005
Charles R. Scheper*
/s/ Richard L. Magoteaux	Treasurer	May 2, 2005
Richard L. Magoteaux
/s/ Stephen Craig Lindner	Director	May 2, 2005
Stephen Craig Lindner*
/s/ Christopher Miliano	Director	May 2, 2005
Christopher Miliano*
/s/ Mark Francis Muething	Director	May 2, 2005
Mark Francis Muething*
/s/ Michael J. Prager	Director	May 2, 2005
Michael J. Prager*
/s/ John P. Gruber		May 2, 2005
*John P. Gruber, as Attorney-in-Fact

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EXHIBIT INDEX

Exhibit No.	Description of Exhibit
1.	Consent of Independent Registered Public Accounting Firm.