Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
NOBLE DAVID J
 2. Issuer Name and Ticker or Trading Symbol
AMERICAN EQUITY INVESTMENT LIFE HOLDING CO [AEL] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Chairman
(Last)
(First)
(Middle)

6000 WESTOWN PARKWAY		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2010
(Street)


WEST DES MOINES, IA 50266		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock             1,636,918 D  
Common Stock             237,000 I By Twenty Services
Common Stock             3,462 I (1) By ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options - Right to Buy $ 9.27           06/11/2013 06/10/2020 Common Stock
25,000
  25,000
D
 
Options - Right to Buy $ 10.65           03/31/2013 03/30/2016 Common Stock
50,000
  50,000
D
 
Options - Right to Buy $ 7           05/08/2012 05/08/2019 Common Stock
40,000
  40,000
D
 
Options - Right to Buy $ 9           12/04/2003 12/04/2013 Common Stock
50,000
  50,000
D
 
American Equity Capital Trust 1 8% TP $ 8.1           09/30/2002 09/30/2029 Common Stock
14,814
  14,814
D
 
American Equity Capital Trust I 8% TP $ 8.1           09/30/2002 09/30/2029 Common Stock
7,407
  7,407
I
By Noble Foundation
Deferred Compensation Plan               (3)   (3) Common Stock
98,361
  98,361
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
NOBLE DAVID J
6000 WESTOWN PARKWAY
WEST DES MOINES, IA 50266		   X     Executive Chairman  

Signatures

Debra J. Richardson, by Power of Attorney 02/11/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 1082 shares of the total ESOP ownership reported represent an estimated number for the December 31, 2010 allocation.
(2) Each share deemed to be held by the Deferred Compensation Plan represents the right to receive one share of AEL common stock or the cash value thereof.
(3) Shares of AEL Stock deemed held by the Deferred Compensation Plan are payable in AEL common stock or cash following termination of the reporting person's employment with AEL. The reporting person may transfer the AEL stock deemed held in his Deferred Compensation Account into an alternative investment at any time.

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