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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON DC 20549
 
                            ------------------------
 
                                   FORM 10-K
 
(MARK ONE)
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
    OF 1934 [FEE REQUIRED]
 
      FOR THE FISCAL YEAR ENDED
          DECEMBER 31, 1995
 
                                       OR
 
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
    ACT OF 1934 [NO FEE REQUIRED]
 
FOR THE TRANSITION PERIOD FROM        COMMISSION FILE NUMBER
                                             33-71690
 
                            ------------------------
 
                      FIRST FORTIS LIFE INSURANCE COMPANY
             (Exact name of registrant as specified in its charter
 
<TABLE>
<S>                                   <C>
              NEW YORK                      13-2699219
   State or other jurisdiction of         (IRS Employer
   incorporation or organization       Identification No.)
 
 220 SALINA MEADOWS PARKWAY, SUITE
                255,
      SYRACUSE, NEW YORK 13220
  (Address of principal executive
              offices)
</TABLE>
 
                 Registrant's telephone number: (315) 451-0066
 
                            ------------------------
 
        SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT: NONE
 
        SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT: NONE
 
                            ------------------------
 
    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.
 
                      /X/  Yes                      / /  No
 
                      DOCUMENTS INCORPORATED BY REFERENCE
 
    Portions  of the Form S-1 Amended Registration  Statement to be filed by the
Registrant are incorporated by reference into Parts I, II and III.
 
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<PAGE>
                                     PART I
 
ITEM 1.  BUSINESS
 
    "First  Fortis Life  Insurance Company" on  page 7  and "Further Information
About First Fortis" on pages 17 through 21 of the prospectus attached hereto  as
Exhibit No. 99 are incorporated herein.
 
    The  Company seeks  to compete primarily  on the basis  of customer service,
product design, and, in the case of products funded through Fortis Series  Fund,
Inc.,  the  investment  results achieved  by  Fortis Advisers,  Inc.  Many other
insurance companies compete with the Company  in each of its markets,  including
on  the  basis of  price. Many  of these  companies, which  include some  of the
largest and best known insurance companies, have considerably greater  resources
than the Company.
 
ITEM 2.  PROPERTIES
 
    The  Company leases  its home office  building, consisting  of 26,875 square
feet, in Syracuse, New  York. It also leases  space, consisting of 9,471  square
feet,  for  the maintenance  of a  sales office  located in  New York  City. The
Company expects that  this office  space will  be adequate  for the  foreseeable
future.
 
ITEM 3.  LEGAL PROCEEDINGS
 
    The  Company  is a  defendant in  various  lawsuits, none  of which,  in the
opinion of the Company counsel, will result in a material liability.
 
ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 
    Not Applicable.
<PAGE>
                                    PART II
 
ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
 
    Not applicable.
 
ITEM 6.  SELECTED FINANCIAL DATA
 
    "Selected Financial Data" from page 18 of the prospectus attached hereto  as
Exhibit No. 99, is incorporated herein by reference.
 
ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS
 
    "Management's  Discussion and Analysis of Financial Condition and Results of
Operations" on page 18 of  the prospectus attached hereto  as Exhibit No. 99  is
incorporated herein by reference.
 
ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
 
    The  Company's  financial  statements included  in  the  prospectus attached
hereto as Exhibit No. 99 are incorporated by reference.
 
ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
 
    None.
<PAGE>
                                    PART III
 
ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
 
    "Directors and  Executive Officers  of the  Registrant" on  Page 20  of  the
prospectus  attached  hereto  as  Exhibit  No.  99  is  incorporated  herein  by
reference.
 
ITEM 11.  EXECUTIVE COMPENSATION
 
    "Executive Compensation" on  Page 21  of the prospectus  attached hereto  as
Exhibit No. 99 is incorporated herein by reference.
 
ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
 
    (a) Security Ownership of Certain Beneficial Owners
 
<TABLE>
<CAPTION>
                                                    PERCENTAGE
  NAME & ADDRESS OF BENEFICIAL      NUMBER OF     OF OUTSTANDING
              OWNER                  SHARES       VOTING SHARES
---------------------------------  -----------  ------------------
<S>                                <C>          <C>
Fortis AMEV                           100,000          100%
 Archimedeslaan 10
 3584 BA
 Utrecht, The Netherlands
</TABLE>
 
    (b) Security Ownership of Management
 
    None.
 
    (c) Changes in Control
 
    None.
 
ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
 
    None.
<PAGE>
                                    PART IV
 
ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K
 
(a)(1)The  following financial statements of First Fortis Life Insurance Company
      are included in Item 8:
 
       Report of Independent Auditors
 
       Balance Sheets at December 31, 1995 and 1994
 
       Statements of Operations for the years ended December 31, 1995, 1994  and
       1993
 
       Statements  of  Changes  in  Shareholder's  Equity  for  the  years ended
       December 31, 1995, 1994 and 1993
 
       Statements of Cash Flows for the years ended December 31, 1995, 1994  and
       1993.
 
       Notes to Financial Statements
 
(a)(2) The  information required by the  following financial statement schedules
       for First Fortis Life Insurance Company are included in Item 8:
 
       I.  Summary of Investments -- Other  than Investments in Related  Parties
           -- Contained in the Notes to Financial Statements.
 
       II.  Condensed  Financial Information  of Registrant --  Contained in the
            non-financial statement part of the prospectus.
 
       IV. Reinsurance -- Contained in the Notes to Financial Statements.
 
       V.  Valuation and  Qualifying  Accounts  -- Contained  in  the  Financial
           Statements and Notes to Financial Statements.
 
    All other schedules to the financial statements required by Article 7 of the
Regulation   S-X  are  not  required  under  the  related  instructions  or  are
inapplicable and therefore have been omitted.
 
(a)(3) Listing of Exhibits
 
       2. None.
 
       3.(a) Articles of Incorporation of First Fortis Life Insurance Company --
       filed herewith.
 
        (b) By-laws  of First  Fortis Life  Insurance Company  (Incorporated  by
       reference  from Form  N-4 Registration  Statement, File  No. 33-71686, of
       registrant and its Separate Account A filed on November 15, 1993);
 
       4.(a) Form  of Combination  Fixed and  Variable Group  Annuity  Contract;
       (Incorporated  by reference from  Post-Effective Amendment No.  2 to Form
       N-4 Registration  Statement, File  No. 33-71686,  of registrant  and  its
       Separate Account A filed on April 27, 1995);
 
        (b)  Form of Application to be used in connection with Contract filed as
       Exhibit 4 (a)  (Incorporated by reference  from Post-Effective  Amendment
       No.  2  to  Form  N-4  Registration  Statement,  File  No.  33-71686,  of
       registrant and its Separate Account A filed on April 27, 1995);
 
        (c)  Form   of  IRA   Endorsement   (Incorporated  by   reference   from
       Post-Effective  Amendment No. 2 to  Form N-4 Registration Statement, File
       No. 33-71686, of registrant and its Separate Account A filed on April 27,
       1995);
 
        (d)  Form  of  Section  403(b)  Annuity  Endorsement  (Incorporated   by
       reference  from Post-Effective Amendment  No. 2 to  Form N-4 Registration
       Statement, File No. 33-71686,  of registrant and  its Separate Account  A
       filed on April 27, 1995);
 
       10. Administrative Service Agreement -- filed herewith.
<PAGE>
       24.(a)  Power  of Attorney  for Messrs.  Rutherford, Freedman  and Madame
       Gharib. (Incorporated by reference from Form N-4 Registration  Statement,
       File  No. 33-71686,  of registrant  and its  Separate Account  A filed on
       November 15, 1993).
 
(b)    Power of Attorney for Messrs. Gardner, Nelson and Galston.  (Incorporated
       by  reference from Form N-4 Registration Statement, File No. 33-71686, of
       registrant and its Separate Account A filed on February 28, 1995.)
 
       99. Form  of  prospectus  to  be  filed  as  part  of  Form  S-1  Amended
       Registration Statement of the Registrant.
 
(b)    Reports on Form 8-K filed in the fourth quarter of 1995
 
       None.
 
(c)    Exhibits
 
       Included in 14 (a)(3) above.
 
(d)    Financial Statement Schedules
 
       Included in 14(a)(2) above.
<PAGE>
                                   SIGNATURES
 
    Pursuant  to  the requirements  of  Section 13  or  15(d) of  the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by  the undersigned, thereunto  duly authorized on  this 26th day  of
March, 1996.
 
                                          FIRST FORTIS LIFE INSURANCE COMPANY
                                          By:     /s/
                                             -----------------------------------
                                                      Terry J. Kryshak
                                                    SR. VICE PRESIDENT &
                                                CHIEF ADMINISTRATIVE OFFICER
 
    Pursuant  to the requirements  of the Securities Exchange  Act of 1934, this
report has been  duly signed below  by the  following persons on  behalf of  the
registrant  and in the capacities indicated on  the 26th day of March, 1996. The
following persons represent a majority of the Board of Directors of First Fortis
Life Insurance Company:
 
<TABLE>
<CAPTION>
                       SIGNATURE                                          TITLE WITH FIRST FORTIS
--------------------------------------------------------  --------------------------------------------------------
 
<C>                                                       <S>
                          /s/
      --------------------------------------------        Sr. Vice President and Chief Administrative Officer and
                    Terry J. Kryshak                       Director (Principal Executive Officer)
 
                          /s/
      --------------------------------------------        Treasurer and Director (Principal Financial Officer)
                     Larry M. Cains
 
                          /s/
      --------------------------------------------        Assistant Treasurer and Director of Accounting
                    Leanne F. Hughes                       (Principal Accounting Officer)
 
                           *
      --------------------------------------------        President and Director
                  Allen Royal Freedman
 
                           *
      --------------------------------------------        Director
                      Susie Gharib
 
                           *
      --------------------------------------------        Director
               Guy Gerard Rutherfurd, Jr.
 
                           *
      --------------------------------------------        Director
                  Dale Edward Gardner
 
                           *
      --------------------------------------------        Director
                 Kenneth Warwick Nelson
 
      --------------------------------------------        Director
                   Robert B. Pollack
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                       SIGNATURE                                          TITLE WITH FIRST FORTIS
--------------------------------------------------------  --------------------------------------------------------
 
<C>                                                       <S>
      --------------------------------------------        Director
                    Dean C. Kopperud
 
      --------------------------------------------        Director
                    Thomas M. Keller
 
                           *
      --------------------------------------------        Director
                 Clarence Elkus Galston
</TABLE>
 
<TABLE>
<S>  <C>
*By  /s/
     -----------------------------------------------
     Terry J. Kryshak
     ATTORNEY-IN-FACT
</TABLE>