DRAFT  9:12 AM 11/10/00
                                    FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

(Mark One)
|X|     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2000

                                       OR

|_|     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934

For the transaction period from                              to

Commission file number                                       333-25269

                      FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
                    (Exact name of registrant as specified in its charter)

                               New York 93-1225432

                (State or other jurisdiction of incorporation or organization)
                           (I.R.S. Employer Identification Number)

                      125 Wolf Road, Albany, New York 12205

                           (Address of principal executive offices)
                                   (Zip Code)

                                        [518] 437-1816
                     (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes          X      No

As of September  30, 2000,  2,500 shares of the  registrant's  common stock were
outstanding, all of which were owned by the registrant's parent company.

NOTE: This Form 10-Q is filed by the registrant only as a consequence of the
      sale by the registrant of a market value adjusted annuity product.


                                     - 20 -

                                TABLE OF CONTENTS
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                                                                                         Page

                                                                                      -----------
Part I         FINANCIAL INFORMATION

               Item 1   Financial Statements

                        Statements of Income                                                3

                        Balance Sheets                                                      4

                        Statements of Cash Flows                                            5

                        Statements of Stockholder's Equity                                  6

                        Notes to Financial Statements                                       7

               Item 2   Management's Discussion and Analysis of Financial                   9
                        Condition and Results of Operations

Part II        OTHER INFORMATION

               Item 1   Legal Proceedings                                                  15

               Item 6   Exhibits and Reports on Form 8-K                                   15

               Signatures                                                                  15


















PART I   FINANCIAL INFORMATION

ITEM 1.   FINANCIAL STATEMENTS

FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

STATEMENTS OF INCOME
(Dollars in Thousands)
-----------------------------------------------------------------------------------------------
(Unaudited)
                                        Three Months Ended              Nine Months Ended
                                          September 30,                   September 30,
                                   -----------------------------   ----------------------------
                                       2000           1999             2000           1999
                                   -------------  --------------   -------------   ------------
REVENUES:

  Premium and fee income        $       4,540   $         67    $      14,390   $         411
  Net investment income                 2,676          1,653            7,540           4,468
  Realized gains (losses) on
    Investments                             0              0              296             (21)
                                   -------------  --------------   -------------   ------------

                                        7,216          1,720           22,226           4,858
                                   -------------  --------------   -------------   ------------
BENEFITS AND EXPENSES:
  Life and other policy                 2,237             11           10,760              29
benefits

  Increase in reserves                     39                            (631)
  Interest paid or credited to
    contractholders                     1,736          1,208            5,136           3,302
  General and administrative
    expenses                              535            238            2,164             717
                                   -------------  --------------   -------------   ------------

                                        4,547          1,457           17,429           4,048
                                   -------------  --------------   -------------   ------------
INCOME BEFORE INCOME
TAXES                                   2,669            263            4,797             810

PROVISION FOR
INCOME TAXES:
   Current                              1,797             72            2,914             280
   Deferred                              (714)             2             (955)             23
                                   -------------  --------------   -------------   ------------

                                        1,083             74            1,959             303
                                   -------------  --------------   -------------   ------------

NET INCOME                      $       1,586   $        189    $       2,838   $         507
                                   =============  ==============   =============   ============










See notes to financial statements.

FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

BALANCE SHEETS
(Dollars in thousands except for share information)
-----------------------------------------------------------------------------------------------

                                                                September 30,    December 31,
                                                                    2000             1999
                                                                --------------   --------------
ASSETS                                                           (Unaudited)
------

INVESTMENTS:
    Fixed maturies:
       Held-to-maturity at amortized cost
       (fair value $50,012 and $35,335)                      $        50,785  $        37,050
       Available-for-sale, at fair value
       (amortized cost $98,010 and $77,740)                           95,885           74,149
    Short-term investments, available-for-sale
       (cost approximates fair value)                                  3,298            1,600
                                                                --------------   --------------

      Total Investments                                              149,968          112,799

Cash                                                                   7,508            5,443
Reinsurance receivable                                                 2,023            1,426
Deferred policy acquisition costs                                      2,125            1,702
Investment income due and accrued                                      1,742            1,204
Due from Parent Corporation                                            2,387            3,302
Uninsured claims receivable                                            4,694
Other assets                                                           3,085            3,366
Premiums in course of collection                                       2,540              537
Deferred income taxes                                                  2,428            2,050
Separate account assets                                               44,929           39,881
                                                                --------------   --------------

TOTAL ASSETS                                                 $       223,429  $       171,710
                                                                ==============   ==============

LIABILITIES AND STOCKHOLDER'S EQUITY

POLICY BENEFIT LIABILITIES:
    Policy reserves                                          $       134,679  $        93,434
    Policy and contract claims                                         4,351            4,894
    Policyholder's funds                                                  41               93

GENERAL LIABILITIES:
    Other liabilities                                                  5,024            2,794
    Separate account liabilities                                      44,929           39,881
                                                                --------------   --------------

      Total Liabilities                                              189,024          141,096
                                                                --------------   --------------

STOCKHOLDER'S EQUITY:
    Common stock, $1,000 par value, 10,000 shares
authorized,
       2,500 shares issued and outstanding                             2,500            2,500
    Additional paid-in capital                                        28,600           28,600
    Accumulated other comprehensive loss                              (1,381)          (2,334)
    Retained earnings                                                  4,686            1,848
                                                                --------------   --------------

      Total Stockholder's Equity                                      34,405           30,614
                                                                --------------   --------------

TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY                   $       223,429  $       171,710
                                                                ==============   ==============

See notes to financial statements.

FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

STATEMENTS OF CASH FLOWS
(Dollars in Thousands)
-----------------------------------------------------------------------------------------------
(Unaudited)
                                                                       Nine Months Ended
                                                                         September 30,

                                                                  -----------------------------
                                                                      2000            1999
                                                                  -------------   -------------

OPERATING ACTIVITIES:
    Net income                                                 $        2,838  $          507
    Adjustments to reconcile net income to
      net cash provided by operating activities:
       Amortization of investments                                       (658)             46
       Realized (gains) losses on disposal of investments                (296)             21
       Deferred income taxes                                             (955)             23
    Changes in assets and liabilities:
        Accrued interest and other receivables                         (2,541)           (479)
        Policy benefit liabilities                                      4,531           3,816
        Reinsurance receivable                                           (597)            (44)
        Other, net                                                     (2,595)          4,421
                                                                  -------------   -------------
                 Net cash provided by (used in) operating                (273)          8,311
activities

                                                                  -------------   -------------

INVESTING ACTIVITIES:
Proceeds from maturities and redemptions investments:
    Fixed maturities:
      Held-to-maturity                                                    667             359
      Available-for-sale                                               40,037           5,537
Purchases of investments:
    Fixed maturities:
      Held-to-maturity                                                (14,144)        (16,000)
      Available-for-sale                                              (61,308)        (16,633)
                                                                  -------------   -------------

                 Net cash used in investing activities                (34,748)        (26,737)
                                                                  -------------   -------------

FINANCING ACTIVITIES:
   Contract deposits, net of withdrawals                               36,171           4,305
   Due to Parent Corporation                                              915          (1,926)
   Capital contributions                                                               16,000
                                                                  -------------   -------------

              Net cash provided by financing activities                37,086          18,379
                                                                  -------------   -------------

NET INCREASE (DECREASE) IN CASH                                         2,065             (47)

CASH, BEGINNING OF YEAR                                                 5,443             705
                                                                  -------------   -------------

CASH, END OF PERIOD                                            $        7,508  $          658
                                                                  =============   =============




See notes to financial statements.

FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

STATEMENTS OF STOCKHOLDER'S EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 (Unaudited) AND YEAR ENDED DECEMBER 31, 1999
----------------------------------------------------------------------------------------------
[Dollars in thousands except for share information]

                                                                                            Accumulated
                                                                            Additional         Other

                                                   Common Stock              Paid-in       Comprehensive       Retained
                                            ----------------------------
                                         Shares         Amount         Capital            Loss           Earnings         Total
                                       -----------  -------------                  -----------------  -------------   -------------
                                                                    -------------

BALANCE, January 1, 1999                  2,500   $      2,500   $      12,600   $         717      $        825   $      16,642
                                       ===========  =============   =============  =================  =============   =============

  Net income                                                                                               1,023           1,023
  Other comprehensive loss
    Change in unrealized gains (losses)                                                 (3,051)                           (3,051)
                                                                                                                      -------------
  Comprehensive income                                                                                                    (2,028)
                                                                                                                      -------------
  Capital contribution                                                  16,000                                            16,000
                                       -----------  -------------   -------------  -----------------  -------------   -------------

BALANCE, DECEMBER 31, 1999                2,500   $      2,500   $      28,600   $      (2,334)     $      1,848   $      30,614
                                       ===========  =============   =============  =================  =============   =============

  Net income                                                                                               2,838           2,838
  Other comprehensive income
    Change in unrealized gains (losses)                                                    953                               953
                                                                                                                      -------------
  Comprehensive income                                                                                                     3,791
                                                                                                                      -------------
  Capital contribution                                                                                                         0
                                       -----------  -------------   -------------  -----------------  -------------   -------------

BALANCE, SEPTEMBER 30, 2000               2,500   $      2,500   $      28,600   $      (1,381)     $      4,686   $      34,405
                                       ===========  =============   =============  =================  =============   =============



</TABLE>



See notes to financial statements.

FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS

-------------------------------------------------------------------------------
(Unaudited)

1.      BASIS OF PRESENTATION

        First  Great-West  Life & Annuity  Insurance  Company (the Company) is a
        wholly-owned  subsidiary of Great-West Life & Annuity  Insurance Company
        (the Parent  Corporation or GWL&A).  The Company was  incorporated  as a
        stock  life  insurance  company  in  the  State  of  New  York  and  was
        capitalized  on April 4, 1997.  The Company was licensed as an insurance
        company in the State of New York on May 28, 1997.

        The  financial  statements  and related  notes of the Company  have been
        prepared in accordance with accounting  principles generally accepted in
        the United States of America  applicable to interim financial  reporting
        and do not include all of the  information  and  footnotes  required for
        complete financial  statements.  However,  in the opinion of management,
        these statements include all normal recurring  adjustments necessary for
        a fair presentation of the results. These financial statements should be
        read in  conjunction  with  the  audited  financial  statements  and the
        accompanying  notes  included in the  Company's  latest annual report on
        Form 10-K, as amended, for the year ended December 31, 1999.

        Operating  results for the nine months ended September 30, 2000, are not
        necessarily  indicative of the results that may be expected for the full
        year ending December 31, 2000.

2.      NEW ACCOUNTING PRONOUNCEMENTS

        In September  2000,  the  Financial  Accounting  Standards  Board (FASB)
        issued  Statement  No. 140,  "Accounting  for Transfers and Servicing of
        Financial Assets and  Extinguishments  of Liabilities - A replacement of
        FASB Statement No. 125",  which revises the standards for accounting for
        securitizations  and other transfers of financial  assets and collateral
        and requires  certain  disclosures.  Statement No. 140 will be effective
        for transfers and servicing of financial assets and  extinguishments  of
        liabilities   occurring  after  March  31,  2001.  Management  does  not
        anticipate   that  the  adoption  of  the  new  Statement  will  have  a
        significant effect on earnings or the financial position of the Company.

        In December 1999, the  Securities and Exchange  Commission  (SEC) issued
        Staff  Accounting  Bulletin  (SAB)  No.  101,  "Revenue  Recognition  in
        Financial  Statements,"  which provides guidance with respect to revenue
        recognition  issues and  disclosures.  As amended by SAB No.  101B,  the
        Company is required to implement the  provisions of SAB No. 101 no later
        than the fourth  quarter of the fiscal year ending  December  30,  2000.
        Management  does not believe SAB No. 101 will have a material  impact on
        its financial statements.

        In June  1998,  the FASB  issued  Statement  No.  133,  "Accounting  for
        Derivative Instruments and Hedging Activities",  which was effective for
        all fiscal years  beginning  after June 15, 1999. In June 1999, the FASB
        issued  Statement No. 137,  "Accounting  for Derivative  Instruments and
        Hedging  Activities - Deferral of the Effective  Date of FASB  Statement
        No. 133",  which delays the effective  date of Statement No. 133 for one
        year, to fiscal years beginning after June 15, 2000. The Company has not
        completed its evaluation of the impact of this Statement,  and therefore
        the  Company is unable to  disclose  the  impact  that the  adoption  of
        Statement No. 133 will have on the Company's financial statements.

3.      OTHER

        On October 6, 1999,  the Parent  Corporation  entered  into an agreement
        (the Agreement) with Allmerica  Financial  Corporation  ("Allmerica") to
        acquire Allmerica's group life and health insurance business on March 1,
        2000. The policies  resident in the State of New York have been assigned
        to the  Company  as  part  of the  Agreement.  This  business  primarily
        consists of  administrative  services only and stop loss  policies.  The
        in-force  business is expected to be  underwritten  and  retained by the
        Company upon each policy  renewal date. The purchase price is based on a
        percentage of the premium and  administrative  fees in-force at March 1,
        2000, and March 1, 2001.

ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
           RESULTS OF OPERATIONS
<TABLE>
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                                                  Three Months               Nine Months
                                                     Ended                      Ended
                                                 September 30,              September 30,
                                             -----------------------    -----------------------
     Operating Summary (Thousands)             2000         1999          2000         1999
                                             ----------   ----------    ----------  -----------

     Premiums and fee income              $     4,540  $        67  $     14,390  $      411
     Net investment income                      2,676        1,653         7,540       4,468
     Realized gains (losses) on
       Investments                                                           296         (21)
                                             ----------   ----------    ----------  -----------
          Total revenues                        7,216        1,720        22,226       4,858

     Total benefits and expenses                4,547        1,457        17,429       4,048
     Income tax expense                         1,083           74         1,959         303
                                             ----------   ----------    ----------  -----------
          Net income                      $     1,586  $       189  $      2,838  $      507
                                             ==========   ==========    ==========  ===========

     Deposits for investment-type
       Contracts                          $    36,100  $            $     36,264  $    4,725
     Deposits to separate accounts              2,743        1,855         6,866       8,345

                                                          September 30,        December 31,
     Balance Sheet (Thousands)                                 2000                1999
                                                         -----------------   ------------------

     Investment assets                               $        149,968     $       112,799
     Separate account assets                                   44,929              39,881
     Total assets                                             223,429             171,710
     Total policyholder liabilities                           139,071              98,421
     Total stockholder's equity                                34,405              30,614
</TABLE>

        GENERAL

        The  following  discussion  addresses  the  financial  condition  of the
        Company as of September 30, 2000,  compared with December 31, 1999,  and
        its results of operations for the three and nine months ended  September
        30,  2000,  compared  with the same periods  last year.  The  discussion
        should  be read in  conjunction  with the  Management's  Discussion  and
        Analysis  section  included  in the  Company's  report on Form 10-K,  as
        amended,  for the  year-ended  December 31, 1999, to which the reader is
        directed for additional information.

        RESULTS OF OPERATIONS

        The Company's net income increased $1.4 million and $2.3 million for the
        third quarter and nine months of 2000 when compared to the third quarter
        and nine months of 1999. This increase was primarily due to the increase
        in the group  health  and life  business  related to the  December  1999
        assumption of business from Anthem  Health & Life  Insurance  Company of
        New York  ("Anthem New York") and to the growth and further  development
        of the Company.

        Premium and fee income  increased $4.5 million and $14.0 million for the
        third quarter and nine months of 2000 when compared to the third quarter
        and nine months of 1999. The increases are due to increased premiums and
        fees related to the group health and life  business  assumed from Anthem
        New York in December 1999.

        Net  investment  income  increased $1.0 million and $3.1 million for the
        third quarter and nine months of 2000 when compared to the third quarter
        and nine months of 1999.  The increase for the third quarter and year to
        date are due to an  increase in  invested  assets  related to Bank Owned
        Life Insurance ("BOLI"), as well as a capital infusion from GWL&A of $16
        million in June  1999.  The  capital  contribution  resulted  in a large
        increase  in invested  assets in the second half of 1999,  which in turn
        increased net investment  income  throughout the second half of 1999 and
        the first nine months of 2000.

        The Company recorded a realized  investment gain of $296 thousand in the
        first nine months of 2000  compared to the loss of $21  thousand  during
        the same  period  of 1999.  The year to date  gain is due to the sale of
        available-for-sale  securities  at more  favorable  interest  rates than
        interest rates during the same period in 1999.

        The increase in benefits and expenses  during the third  quarter and the
        first  nine  months of 2000 is  primarily  due to the  additional  group
        health and life business  related to the assumption from Anthem New York
        in December 1999.  Expenses have also increased as the Company  incurred
        additional costs to administer the group health and life business.

        Total  assets  and  liabilities  increased  $51.7  million  or 30%  when
        compared to year ended  December  31,  1999.  The  increase is primarily
        attributable to BOLI business.

        SEGMENT RESULTS

        Employee Benefits

        On December 1, 1999, the Company entered into an assumption  reinsurance
        transaction  with  Anthem  New  York.  The  results  below  reflect  the
        operations for the Employee  Benefits  segment for the third quarter and
        first nine months of 2000:
<TABLE>
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                                              Three Months Ended         Nine Months Ended

        Operating Summary                       September 30,              September 30,
                                            -----------------------    -----------------------
        (Thousands)                           2000          1999         2000          1999
        --------------------------------    ----------    ---------    ----------    ---------
        Premium and fee income           $     4,446   $            $    14,018   $
        Net investment income                    238                        711
        Realized investment
          gains (losses)
                                            ----------    ---------    ----------    ---------
                Total revenues                 4,684                     14,729

        Total benefits and expenses            2,396            22       11,078            29
        Income tax expenses                      935           (14)       1,491           (12)
                                            ----------    ---------    ----------    ---------
                Net income (loss)        $     1,353   $        (8) $     2,160   $       (17)
                                            ==========    =========    ==========    =========

        Operation for the Employee  Benefits segment had an overall increase for
        the third  quarter  and first nine  months of 2000 when  compared to the
        same periods in 1999. The increases are due to the group life and health
        business related to the December 1999 assumption of Anthem New York.

        Financial Services

        The  following is a summary of certain  financial  data of the Financial
        Services segment:

                                              Three Months Ended         Nine Months Ended

        Operating Summary                       September 30,              September 30,
                                            -----------------------    -----------------------
        (Thousands)                           2000          1999         2000          1999
        --------------------------------    ----------    ---------    ----------    ---------
        Premium and fee income           $        94   $        67  $       372   $       411
        Net investment income                  2,438         1,653        6,829         4,468
        Realized investment
          gains (losses)                                                    296           (21)
                                            ----------    ---------    ----------    ---------
                Total revenues                 2,532         1,720        7,497         4,858

        Total benefits and expenses            2,151         1,435        6,351         4,019
        Income tax expenses                      148            88          468           315
                                            ----------    ---------    ----------    ---------
                Net income (loss)        $       233   $       197  $       678   $       524
                                            ==========    =========    ==========    =========

        Deposits for investment

          type contracts                      36,100                     36,264         4,725
        Deposits to separate

          Accounts                             2,743         1,855        6,866         8,345
</TABLE>

        Net  income for  Financial  Services  increased  $36  thousand  and $154
        thousand  for the third  quarter  and the first nine months of 2000 when
        compared to the third  quarter  and the first nine  months of 1999.  The
        third quarter increase was primarily due to increased fee income related
        to the segments variable annuity products. The year to date increase was
        primarily due to the interest on surplus and realized bond gains.

        Premium and fee income for Financial Services increased  (decreased) $27
        thousand  and $(39)  thousand  for the third  quarter and the first nine
        months of 2000 when  compared  to the third  quarter  and the first nine
        months of 1999.  The  increase was  primarily  related to an increase in
        fees from the  segment's  variable  annuity  product.  The  decrease was
        primarily  related  to  a  decrease  in  the  segment's  life  insurance
        premiums.

        Net investment  income  increased $785 thousand and $2.4 million for the
        third  quarter  and the first nine  months of 2000 when  compared to the
        third quarter and the first nine months of 1999.  The increases were due
        to an increase in invested assets,  as well as a capital infusion of $16
        million from the Parent Corporation in the second quarter of 1999.

        Deposits for investment type contracts increased $36.1 million and $31.5
        million  for the third  quarter  and the first nine  months of 2000 when
        compared to the third  quarter  and the first nine  months of 1999.  The
        increases  were due to an  increase in the sales of the  Company's  BOLI
        products.  The  nature  of  this  type of  product  can  lead  to  large
        fluctuations from period to period.

        GENERAL ACCOUNT INVESTMENTS

        The Company's  primary  investment  objective is to acquire assets whose
        durations  and cash flows reflect the  characteristics  of the Company's
        liabilities,  while  meeting  industry,  size,  issuer,  and  geographic
        diversification   standards.   Formal   liquidity  and  credit   quality
        parameters  have also been  established.  One of the  Company's  primary
        objectives is to ensure that its fixed maturity  portfolio is maintained
        at a high average quality, so as to limit credit risk. If not externally
        rated, the securities are rated by the Company on a basis intended to be
        similar to that of the rating agencies.

        The    distribution    of   the   fixed   maturity    portfolio    (both
        available-for-sale  and held-to-maturity) by credit rating is summarized
        as follows:

                                             September 30,         December 31,
                   Credit Rating               2000                 1999
        -----------------------------   -------------------  -------------------

        AAA                                     62.36%             57.4%
        AA                                      14.12%             11.2%
        A                                        7.38%             10.1%
        BBB                                     16.14%             21.3%
                                        -------------------  -------------------
                       TOTAL                   100.0%             100.0%
                                        ===================  ===================

        The Company follows  rigorous  procedures to control  interest rate risk
        and  observes  strict asset and  liability  matching  guidelines.  These
        guidelines  are designed to ensure that even in changing  interest  rate
        environments,  the Company's assets will always be able to meet the cash
        flow  and  income  requirements  of  its  liabilities.  Through  dynamic
        modeling,  using  state-of-the-art  software to analyze the effects of a
        wide range of possible market changes upon  investments and policyholder
        benefits,   the  Company  ensures  that  its  investment   portfolio  is
        appropriately   structured  to  fulfill  financial  obligations  to  its
        policyholders.

        During the nine months ended September 30, 2000, net unrealized gains on
        fixed  maturities  included  in  stockholders'  equity,  which is net of
        policyholder-related   amounts  and  deferred  income  taxes,  increased
        surplus by $953 thousand.

        LIQUIDITY AND CAPITAL RESOURCES

        The Company's operations have liquidity  requirements that are dependent
        upon the  principal  product  lines.  Life  insurance  and pension  plan
        reserves are primarily long-term liabilities. Life insurance and pension
        plan reserve  requirements are usually stable and  predictable,  and are
        supported primarily by long-term, fixed income investments.

        Generally, the Company has met its operating requirements by maintaining
        appropriate levels of liquidity in its investment  portfolio.  Liquidity
        for the  Company is  strong,  as  evidenced  by  significant  amounts of
        short-term  investments  and cash,  which totaled $10.8 million and $7.0
        million as of September 30, 2000, and December 31, 1999, respectively.

PART II  OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

There are no material pending legal  proceedings to which the Company is a party
or of which any of their property is the subject.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)     Index to Exhibits

        Exhibit

        Number              Title                                   Page
        ----------------    -----------------------------------     -----------

        27                  Financial Data Schedule                 16

(b)     Reports on Form 8-K

No reports on Form 8-K have been filed during the third quarter of 2000.

SIGNATURES

Pursuant to the  requirements  of the Securities Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned  thereunto
duly authorized.

                      FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

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DATE:       November 10, 2000      BY:/s/              Glen R. Derback
                                            ----------------------------------------------------
                                            Glen R. Derback, Vice President and Treasurer
                                         (Duly authorized officer and chief accounting officer)

</TABLE>