AMERICAN ANNUITY GROUP, INC.

                     EXHIBIT 23 - CONSENT OF INDEPENDENT AUDITORS



   We consent  to the  incorporation by  reference in  the Registration
   Statements pertaining  to the Employee Stock  Purchase Plan of American
   Annuity Group, Inc.(Form  S-8 No.  33-55189),  the Agent  Stock Purchase
   Plan of  American Annuity Group, Inc. (Form S-2 No.  33-57259), the
   American Annuity  Group, Inc. Deferred Compensation Plan
   (Form S-8 No.  333-17383), the American  Annuity Group,  Inc.
   Directors'  Compensation Plan  (Form  S-8 No.  333-13777), the  American
   Annuity Group, Inc. Bonus  Plan (Form  S-3 No.  333-68323), the  1998
   American  Annuity Group, Inc. Agent Stock  Option Plan
   (Form S-3 No.  333-51535) and the American Annuity  Group, Inc.
   1994 Stock  Option Plan  (Form S-8  No. 333-41091)  of our
   report  dated  March  19, 1999,  with  respect  to  the  consolidated 
   financial statements and schedules  of  American Annuity  Group,  Inc.
   included  in  this Annual Report (Form 10-K) for the year ended
   December 31, 1998.







                                                     Ernst & Young LLP

   Cincinnati, Ohio
   March 24, 1999

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