**FORM                10-Q**

**                x  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE                SECURITIES EXCHANGE ACT OF 1934**

**                o  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE                SECURITIES EXCHANGE ACT OF 1934**

**AXA                    Equitable Life Insurance Company**

| New                                York                        | 13-5570651                                         |
|----------------------------------------------------------------|----------------------------------------------------|
| (State                                or other jurisdiction of | (I.R.S.                                Employer    |
| incorporation                                or organization)  | Identification                                No.) |

| 1290                                Avenue of the Americas, New York, New York | 10104                                     |
|--------------------------------------------------------------------------------|-------------------------------------------|
| (Address                                of principal executive offices)        | (Zip                                Code) |

| (212)                                554-1234                                           |
|-----------------------------------------------------------------------------------------|
| Registrant’s                                telephone number, including area code |

| Not                                applicable                                                                                                     |
|---------------------------------------------------------------------------------------------------------------------------------------------------|
| (Former                                name, former address, and former fiscal year if changed since last                                report.) |

|   | Yes | x |   | No | o |
|--------|-----|---|--------|----|---|

| Large                                accelerated filer                                  o |   |   | Accelerated                                filer                                  o |   | Non-accelerated                                filer                                  x |   |
|-----------------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------|--------|

|   | Yes | o |   | No | x |
|--------|-----|---|--------|----|---|

**REDUCED                DISCLOSURE FORMAT:**

----

**AXA                EQUITABLE LIFE INSURANCE COMPANY**

**FORM                10-Q**

**FOR THE                QUARTER ENDED SEPTEMBER 30, 2007**

**TABLE OF                CONTENTS**

|   |   | Page |
|--------|--------|------|

| PART                                I | FINANCIAL                                INFORMATION |   |
|---------------------------------------|------------------------------------------------------|--------|

| Item                                1:  | Consolidated                                Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|-----------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                    | ·  Consolidated                                Balance Sheets, September 30, 2007 and December 31, 2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 4      |
|                                    | ·  Consolidated                                Statements of Earnings, Three Months and Nine Months Ended                                September 30, 2007 and 2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 5      |
|                                    | ·  Consolidated                                Statements of Shareholder’s Equity, Nine Months Ended                                September 30, 2007 and 2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 6      |
|                                    | ·  Consolidated                                Statements of Cash Flows, Nine Months Ended September 30, 2007 and                                2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 7      |
|                                    | ·  Notes                                to Consolidated Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 9      |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                2:  | Management’s                                Discussion and Analysis of Financial Condition and Results of                                Operations ("Management                                narrative”)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 25     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                3:  | Quantitative                                and Qualitative Disclosures About Market Risk*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 29     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                4:  | Controls                                and                                Procedures                                                                                                         | 29     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| PART                                II  | OTHER                                INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                1:  | Legal                                Proceedings                                                                                                                                              | 30     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                1A: | Risk                                Factors                                                                                                                                                   | 30     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                2:  | Unregistered                                Sales of Equity Securities and Use of  Proceeds                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 30     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                3:  | Defaults                                Upon Senior Securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 30     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                4:  | Submission                                of Matters to a Vote of Security Holders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 30     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                5:  | Other                                Information                                                                                                                                              | 30     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Item                                6:  | Exhibits                                                                                                                                                                                      | 30     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| SIGNATURES                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 31     |

----

**FORWARD-LOOKING                STATEMENTS**

----

**PART                I  FINANCIAL INFORMATION**

**Item                1:  Consolidated Financial Statements.**

**AXA                EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED                BALANCE SHEETS**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | **September 30,                                2007                                (Unaudited)** |          |   | December                                31,                                2006 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------|---------------|--------|---------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | **(In Millions)**                                                                                |          |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                             |          |
| **ASSETS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                             |          |   |                                                                            |   |
| Investments:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                             |          |   |                                                                            |   |
| Fixed                                maturities available for sale, at estimated fair value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | **$**                                                                                            | **27,511.3**  |   |                                                                            | $      | 29,031.1 |   |
| Mortgage                                loans on real estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** **                                                                                       | **3,307.0**   |   |                                                                            |   | 3,240.7 |   |
| Equity                                real estate, held for the production of income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | ** **                                                                                       | **381.4**     |   |                                                                            |   | 396.9 |   |
| Policy                                loans                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | ** **                                                                                       | **3,934.3**   |   |                                                                            |   | 3,898.1 |   |
| Other                                equity investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | ** **                                                                                       | **1,802.8**   |   |                                                                            |   | 1,562.1 |   |
| Trading                                securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | ** **                                                                                       | **658.8**     |   |                                                                            |   | 465.1 |   |
| Other                                invested assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | ** **                                                                                       | **878.3**     |   |                                                                            |   | 891.6 |   |
| Total                                investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | ** **                                                                                       | **38,473.9**  |   |                                                                            |   | 39,485.6 |   |
| Cash                                and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | ** **                                                                                       | **1,168.9**   |   |                                                                            |   | 1,268.0 |   |
| Cash                                and securities segregated, at estimated fair value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | ** **                                                                                       | **1,230.1**   |   |                                                                            |   | 1,864.0 |   |
| Broker-dealer                                related receivables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | ** **                                                                                       | **3,823.6**   |   |                                                                            |   | 3,481.0 |   |
| Deferred                                policy acquisition costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | ** **                                                                                       | **9,091.1**   |   |                                                                            |   | 8,316.5 |   |
| Goodwill                                and other intangible assets, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | ** **                                                                                       | **3,717.9**   |   |                                                                            |   | 3,738.6 |   |
| Amounts                                due from reinsurers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | ** **                                                                                       | **2,836.5**   |   |                                                                            |   | 2,689.3 |   |
| Loans                                to affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | ** **                                                                                       | **650.0**     |   |                                                                            |   | 400.0 |   |
| Other                                assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | ** **                                                                                       | **3,235.5**   |   |                                                                            |   | 3,241.5 |   |
| Separate                                Accounts’ assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | ** **                                                                                       | **97,349.6**  |   |                                                                            |   | 84,801.6 |   |
| **Total Assets **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **$**                                                                                            | **161,577.1** |   |                                                                            | $      | 149,286.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                             |          |   |                                                                            |   |   |   |
| **LIABILITIES**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                                                                             |          |   |                                                                            |   |   |   |
| Policyholders’                                account balances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | **$**                                                                                            | **25,435.5**  |   |                                                                            | $      | 26,439.0 |   |
| Future                                policy benefits and other policyholders liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | ** **                                                                                       | **14,265.0**  |   |                                                                            |   | 14,085.4 |   |
| Broker-dealer                                related payables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | ** **                                                                                       | **764.8**     |   |                                                                            |   | 950.3 |   |
| Customers                                related payables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | ** **                                                                                       | **3,707.1**   |   |                                                                            |   | 3,980.7 |   |
| Amounts                                due to reinsurers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | ** **                                                                                       | **1,141.8**   |   |                                                                            |   | 1,070.8 |   |
| Short-term                                and long-term debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** **                                                                                       | **611.2**     |   |                                                                            |   | 783.0 |   |
| Loans                                from affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | ** **                                                                                       | **325.0**     |   |                                                                            |   | 325.0 |   |
| Income                                taxes payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | ** **                                                                                       | **3,038.4**   |   |                                                                            |   | 2,971.8 |   |
| Other                                liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | ** **                                                                                       | **2,323.4**   |   |                                                                            |   | 1,818.2 |   |
| Separate                                Accounts’ liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | ** **                                                                                       | **97,349.6**  |   |                                                                            |   | 84,801.6 |   |
| Minority                                interest in equity of consolidated subsidiaries                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | ** **                                                                                       | **2,495.0**   |   |                                                                            |   | 2,289.9 |   |
| Minority                                interest subject to redemption rights                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | ** **                                                                                       | **145.0**     |   |                                                                            |   | 288.0 |   |
| Total                                liabilities                                                                                      |   | ** **                                                                                       | **151,601.8** |   |                                                                            |   | 139,803.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                             |          |   |                                                                            |   |   |   |
| Commitments                                and contingent liabilities (Note 10)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                                                                             |          |   |                                                                            |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                             |          |   |                                                                            |   |   |   |
| **SHAREHOLDER’S EQUITY**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                             |          |   |                                                                            |   |   |   |
| Common                                stock, $1.25 par value, 2.0 million shares authorized, issued and                                outstanding                                                                                                                                                                                                                                                                                                                                                                                                                             |   | ** **                                                                                       | **2.5**       |   |                                                                            |   | 2.5 |   |
| Capital                                in excess of par value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | ** **                                                                                       | **5,209.9**   |   |                                                                            |   | 5,139.6 |   |
| Retained                                earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | ** **                                                                                       | **5,132.6**   |   |                                                                            |   | 4,507.6 |   |
| Accumulated                                other comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | ** **                                                                                       | **(369.7**    | **)**  |                                                                            |   | (167.3 | ) |
| Total                                shareholder’s equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | ** **                                                                                       | **9,975.3**   |   |                                                                            |   | 9,482.4 |   |
| **Total Liabilities and Shareholder’s Equity**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | **$**                                                                                            | **161,577.1** |   |                                                                            | $      | 149,286.1 |   |

----

**AXA                EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED                STATEMENTS OF EARNINGS**

** (UNAUDITED)**

|                                                                                                                                                                                                                                                                                                                                                                                                                                |                                       **Three Months Ended                                    September 30,** |       |             | **Nine Months Ended                                    September 30,** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|------------|------------------|------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                | **2007**                                                                                                                |       | 2006   |                                                                   |   | **2007** |   |   | 2006  |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                | **(In Millions)**                                                                                                       |
| **REVENUES**                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                    |       |             |                                                                   |   |   |   |   |   |   |   |   |
| Universal life and investment-type product policy fee                                    income                                                                                                                                                                                                                                                                                                                                     |                                                                                                                    | **$**      | **714.1**        |                                                                   |   | $ | 573.7 |   |   | **$** | **2,013.5** |   |   | $ | 1,646.9 |   |
| Premiums                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                    | ** ** | **190.9**        |                                                                   |   |   | 197.8 |   |   | ** ** | **601.0** |   |   |   | 604.3 |   |
| Net investment income                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                                    | ** ** | **714.2**        |                                                                   |   |   | 586.1 |   |   | ** ** | **1,825.5** |   |   |   | 1,839.6 |   |
| Investment gains (losses), net                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                    | ** ** | **2.5**          |                                                                   |   |   | (7.8 | ) |   | ** ** | **27.1** |   |   |   | 37.3 |   |
| Commissions, fees and other income                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                    | ** ** | **1,316.8**      |                                                                   |   |   | 1,063.5 |   |   | ** ** | **3,757.5** |   |   |   | 3,134.1 |   |
| Total                                    revenues                                                                                           |                                                                                                                    | ** ** | **2,938.5**      |                                                                   |   |   | 2,413.3 |   |   | ** ** | **8,224.6** |   |   |   | 7,262.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                    |       |             |                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| **BENEFITS AND OTHER DEDUCTIONS**                                                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                    |       |             |                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Policyholders’ benefits                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                    | ** ** | **516.8**        |                                                                   |   |   | 500.9 |   |   | ** ** | **1,490.0** |   |   |   | 1,445.8 |   |
| Interest credited to policyholders account balances                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                                                    | ** ** | **288.2**        |                                                                   |   |   | 285.8 |   |   | ** ** | **809.0** |   |   |   | 801.6 |   |
| Compensation and benefits                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                    | ** ** | **588.8**        |                                                                   |   |   | 542.6 |   |   | ** ** | **1,783.5** |   |   |   | 1,507.7 |   |
| Commissions                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                    | ** ** | **429.0**        |                                                                   |   |   | 336.4 |   |   | ** ** | **1,318.2** |   |   |   | 1,027.0 |   |
| Distribution plan payments                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                    | ** ** | **86.3**         |                                                                   |   |   | 71.5 |   |   | ** ** | **248.8** |   |   |   | 215.3 |   |
| Amortization of deferred sales commissions                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                    | ** ** | **23.8**         |                                                                   |   |   | 21.7 |   |   | ** ** | **73.3** |   |   |   | 71.7 |   |
| Interest expense                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                                    | ** ** | **18.0**         |                                                                   |   |   | 18.0 |   |   | ** ** | **56.3** |   |   |   | 54.3 |   |
| Amortization of deferred policy acquisition costs                                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                    | ** ** | **259.8**        |                                                                   |   |   | 213.1 |   |   | ** ** | **637.8** |   |   |   | 561.1 |   |
| Capitalization of deferred policy acquisition costs                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                                                    | ** ** | **(424.0**       | **)**                                                                  |   |   | (338.3 | ) |   | ** ** | **(1,270.1** | **)** |   |   | (991.2 | ) |
| Rent expense                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                    | ** ** | **60.1**         |                                                                   |   |   | 53.4 |   |   | ** ** | **163.6** |   |   |   | 149.4 |   |
| Amortization of other intangible assets                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                    | ** ** | **5.4**          |                                                                   |   |   | 5.9 |   |   | ** ** | **17.4** |   |   |   | 17.7 |   |
| Other operating costs and expenses                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                    | ** ** | **316.0**        |                                                                   |   |   | 287.1 |   |   | ** ** | **946.8** |   |   |   | 867.3 |   |
| Total benefits and other deductions                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                                                    | ** ** | **2,168.2**      |                                                                   |   |   | 1,998.1 |   |   | ** ** | **6,274.6** |   |   |   | 5,727.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                    |       |             |                                                                   |   |   |   |   |   |   |   |   |   |   |
| Earnings from continuing operations before income                                    taxes                                    and minority interest                                                                                                                                                                                                                                                                                 |                                                                                                                    | ** ** | **770.3**        |                                                                   |   |   | 415.2 |   |   | ** ** | **1,950.0** |   |   |   | 1,534.5 |   |
| Income tax (expense) benefit                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                    | ** ** | **(221.3**       | **)**                                                                  |   |   | 1.9 |   |   | ** ** | **(548.0** | **)** |   |   | (306.4 | ) |
| Minority interest in net income of consolidated                                    subsidiaries                                                                                                                                                                                                                                                                                                                                     |                                                                                                                    | ** ** | **(192.4**       | **)**                                                                  |   |   | (136.6 | ) |   | ** ** | **(517.7** | **)** |   |   | (399.8 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                    |       |             |                                                                   |   |   |   |   |   |   |   |   |   |   |
| Earnings from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                                                    | ** ** | **356.6**        |                                                                   |   |   | 280.5 |   |   | ** ** | **884.3** |   |   |   | 828.3 |   |
| Earnings (losses) from discontinued operations,                                    net of income taxes                                                                                                                                                                                                                                                                                                                              |                                                                                                                    | ** ** | **2.6**          |                                                                   |   |   | 27.9 |   |   | ** ** | **(6.9** | **)** |   |   | 29.5 |   |
| Gains on disposal of discontinued operations, net of                                        income taxes                                                                                                                                                                                                                                                                                                                            |                                                                                                                    | ** ** | **3.2**          |                                                                   |   |   | - |   |   | ** ** | **2.8** |   |   |   | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                    |       |             |                                                                   |   |   |   |   |   |   |   |   |   |   |
| Net                                    Earnings                                                               |                                                                                                                    | **$**      | **362.4**        |                                                                   |   | $ | 308.4 |   |   | **$** | **880.2** |   |   | $ | 857.8 |   |

----

**AXA                EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED                STATEMENTS OF SHAREHOLDER’S EQUITY**

**NINE                MONTHS ENDED SEPTEMBER 30, 2007 AND 2006**

**(UNAUDITED)**

|                                                                                            |   | **2007**          |        |   | 2006   |   |
|-------------------------------------------------------------------------------------------------|--------|-------------------|-------------|--------|--------|--------|
|                                                                                            |   | **(In Millions)** |        |
|                                                                                            |   |              |        |
| **SHAREHOLDER’S EQUITY**                                                                  |   |              |        |   |   |   |
|                                                                                            |   |              |        |   |   |   |
| Common                                stock, at par value, beginning of year and end of period  |   | **$**             | **2.5**     |   |   | $      | 2.5 |   |
|                                                                                            |   |              |        |   |   |   |   |   |
| Capital                                in excess of par value, beginning of year                |   | ** **        | **5,139.6** |   |   |   | 4,976.3 |   |
| Changes                                in capital in excess of par value                        |   | ** **        | **70.3**    |   |   |   | 93.2 |   |
| Capital                                in excess of par value, end of period                    |   | ** **        | **5,209.9** |   |   |   | 5,069.5 |   |
|                                                                                            |   |              |        |   |   |   |   |   |
| Retained                                earnings, beginning of year                             |   | ** **        | **4,507.6** |   |   |   | 4,030.8 |   |
| Cumulative                                effect adjustment to adopt FIN 48                     |   | ** **        | **44.8**    |   |   |   | - |   |
| Retained                                earnings, beginning of year as adjusted                 |   | ** **        | **4,552.4** |   |   |   | 4,030.8 |   |
| Net                                earnings                                                     |   | ** **        | **880.2**   |   |   |   | 857.8 |   |
| Shareholder                                dividends paid                                       |   | ** **        | **(300.0**  | **)**  |   |   | (300.0 | ) |
| Retained                                earnings, end of period                                 |   | ** **        | **5,132.6** |   |   |   | 4,588.6 |   |
|                                                                                            |   |              |        |   |   |   |   |   |
| Accumulated                                other comprehensive (loss) income, beginning of year |   | ** **        | **(167.3**  | **)**  |   |   | 432.3 |   |
| Other                                comprehensive loss                                         |   | ** **        | **(202.4**  | **)**  |   |   | (147.5 | ) |
| Accumulated                                other comprehensive (loss) income, end of period     |   | ** **        | **(369.7**  | **)**  |   |   | 284.8 |   |
|                                                                                            |   |              |        |   |   |   |   |   |
| **Total Shareholder’s Equity, End of Period**                                             |   | **$**             | **9,975.3** |   |   | $      | 9,945.4 |   |

----

**AXA                EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED                STATEMENTS OF CASH FLOWS**

**NINE                MONTHS ENDED SEPTEMBER 30, 2007 AND 2006**

**(UNAUDITED)**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | **2007**          |         |   | 2006   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|--------------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | **(In Millions)** |         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |              |         |   |   |   |
| Net                                earnings                                                                                                                                                     |   | **$**             | **880.2**    |   |   | $      | 857.8 |   |
| Adjustments to reconcile net earnings to net cash provided                                by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |              |         |   |   |   |   |   |
| Interest                                credited to policyholders’ account balances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** **        | **809.0**    |   |   |   | 801.6 |   |
| Universal                                life and investment-type product policy fee income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | ** **        | **(2,013.5** | **)**  |   |   | (1,646.9 | ) |
| Net                                change in broker-dealer and customer related                                receivables/payables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | ** **        | **(969.2**   | **)**  |   |   | (399.4 | ) |
| Investment                                gains, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | ** **        | **(27.1**    | **)**  |   |   | (37.3 | ) |
| Change                                in segregated cash and securities, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | ** **        | **633.9**    |   |   |   | 342.0 |   |
| Change                                in deferred policy acquisition costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | ** **        | **(632.3**   | **)**  |   |   | (430.1 | ) |
| Change                                in future policy benefits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | ** **        | **34.8**     |   |   |   | 18.3 |   |
| Change                                in income taxes payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | ** **        | **273.9**    |   |   |   | 178.7 |   |
| Minority                                interest in net income of consolidated subsidiaries                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | ** **        | **517.7**    |   |   |   | 399.8 |   |
| Change in fair value of guaranteed minimum income benefit                                reinsurance contracts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | ** **        | **40.6**     |   |   |   | (38.3 | ) |
| Amortization                                of deferred sales commissions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** **        | **73.3**     |   |   |   | 71.7 |   |
| Other                                depreciation and amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | ** **        | **100.7**    |   |   |   | 123.7 |   |
| Amortization                                of other intangible assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | ** **        | **17.3**     |   |   |   | 21.8 |   |
| Change                                in accounts payable and accrued expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | ** **        | **629.4**    |   |   |   | 522.7 |   |
| Other,                                net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** **        | **90.5**     |   |   |   | 33.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |              |         |   |   |   |   |   |
| Net                                cash provided by operating activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | ** **        | **459.2**    |   |   |   | 819.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |              |         |   |   |   |   |   |
| Cash                                flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |              |         |   |   |   |   |   |
| Maturities                                and repayments of fixed maturities and mortgage loans                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | ** **        | **1,767.3**  |   |   |   | 2,282.4 |   |
| Sales                                of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | ** **        | **1,997.6**  |   |   |   | 1,445.6 |   |
| Purchases                                of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | ** **        | **(2,888.0** | **)**  |   |   | (3,924.2 | ) |
| Change                                in short-term investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | ** **        | **93.1**     |   |   |   | 69.0 |   |
| Change                                in loans to affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | ** **        | **(650.0**   | **)**  |   |   | - |   |
| Change in capitalized software, leasehold improvements                                    and EDP equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | ** **        | **(136.2**   | **)**  |   |   | (94.2 | ) |
| Other,                                net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** **        | **(325.3**   | **)**  |   |   | (277.9 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |              |         |   |   |   |   |   |
| Net                                cash used in investing                                activities                                                                                             |   | ** **        | **(141.5**   | **)**  |   |   | (499.3 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |              |         |   |   |   |   |   |

----

**AXA                EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED                STATEMENTS OF CASH FLOWS**

**SIX                MONTHS ENDED SEPTEMBER 30, 2007 AND 2006 - CONTINUED**

**(UNAUDITED)**

|                                                                          |   | **2007**          |         |   | 2006   |   |
|-------------------------------------------------------------------------------|--------|-------------------|--------------|--------|--------|--------|
|                                                                          |   | **(In Millions)** |         |
|                                                                          |   |              |         |   |   |   |
| Cash                                flows from financing activities:          |   |              |         |   |   |   |
| Policyholders’                                account balances:         |   |              |         |   |   |   |
| Deposits                                                                      |   | **$**             | **3,047.9**  |   |   | $      | 2,958.6 |   |
| Withdrawals                                and transfers to Separate Accounts |   | ** **        | **(2,953.4** | **)**  |   |   | (2,497.8 | ) |
| Repayment                                of long-term debt                    |   | ** **        | **-**        |   |   |   | (400.0 | ) |
| Net                                change in short-term financings            |   | ** **        | **(168.1**   | **)**  |   |   | 178.7 |   |
| Proceeds                                from loans from affiliates            |   | ** **        | **400.0**    |   |   |   | - |   |
| Shareholder                                dividends paid                     |   | ** **        | **(300.0**   | **)**  |   |   | (300.0 | ) |
| Other,                                net                                     |   | ** **        | **(443.2**   | **)**  |   |   | (233.1 | ) |
|                                                                          |   |              |         |   |   |   |   |   |
| Net                                cash used in financing activities          |   | ** **        | **(416.8**   | **)**  |   |   | (293.6 | ) |
|                                                                          |   |              |         |   |   |   |   |   |
| Change                                in cash and cash equivalents            |   | ** **        | **(99.1**    | **)**  |   |   | 26.4 |   |
| Cash                                and cash equivalents, beginning of year   |   | ** **        | **1,268.0**  |   |   |   | 1,112.1 |   |
|                                                                          |   |              |         |   |   |   |   |   |
| Cash                                and Cash Equivalents, End of Period       |   | **$**             | **1,168.9**  |   |   | $      | 1,138.5 |   |
|                                                                          |   |              |         |
| Supplemental                                cash flow information             |   |              |         |   |   |   |   |   |
| Interest                                Paid                                  |   | **$**             | **38.1**     |   |   | $      | 46.2 |   |
| Income                                Taxes Paid                              |   | **$**             | **230.7**    |   |   | $      | 136.6 |   |

----

**AXA                EQUITABLE LIFE INSURANCE COMPANY**

**NOTES TO                CONSOLIDATED FINANCIAL STATEMENTS**

**(UNAUDITED)**

| **1)** | **BASIS OF PRESENTATION** |
|--------|---------------------------|

| **2)  ** | **ACCOUNTING CHANGES AND NEW ACCOUNTING                                PRONOUNCEMENTS** |
|--------------------|-----------------------------------------------------------------------------------------|

----

| **3)  ** | **INVESTMENTS** |
|--------------------|-----------------|

----

|                                                                            |   | **Nine Months Ended                                September 30,** |     |
|---------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|----------|
|                                                                            |   | **2007**                                                           |     |   | 2006 |   |
|                                                                            |   | **(In Millions)**                                                  |     |
|                                                                            |   |                                                               |     |
| Balances,                                beginning of year                      |   | **$**                                                              | **11.3** |   |   | $ | 11.8 |   |
| Additions                                charged to income                      |   | ** **                                                         | **-**    |   |   |   | .1 |   |
| Deductions                                for writedowns and asset dispositions |   | ** **                                                         | **(9.8** | **)** |   |   | (.5 | ) |
| Balances,                                End of Period                          |   | **$**                                                              | **1.5**  |   |   | $ | 11.4 |   |

|                                                                                           |   | **September 30,                                2007** |     |   | December                                31,                                2006 |   |
|------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------|----------|--------|---------------------------------------------------------------------------------|--------|
|                                                                                           |   | **(In Millions)**                                     |     |
|                                                                                           |   |                                                  |     |
| Impaired                                mortgage loans with investment valuation allowances    |   | **$**                                                 | **11.5** |   |                                                                            | $      | 76.8 |   |
| Impaired                                mortgage loans without investment valuation allowances |   | ** **                                            | **-**    |   |                                                                            |   | 0.1 |   |
| Recorded                                investment in impaired mortgage loans                  |   | ** **                                            | **11.5** |   |                                                                            |   | 76.9 |   |
| Investment                                valuation allowances                                 |   | ** **                                            | **(1.5** | **)**  |                                                                            |   | (11.3 | ) |
| Net                                Impaired Mortgage Loans                                     |   | **$**                                                 | **10.0** |   |                                                                            | $      | 65.6 |   |

| **4)  ** | **CLOSED BLOCK** |
|--------------------|------------------|

----

|                                                                                                                                                                                                                                                                                          |   | **September 30,                                2007** |        |   | December                                31,                                2006 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------|-------------|--------|---------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                          |   | **(In Millions)**                                     |        |
|                                                                                                                                                                                                                                                                                          |   |                                                  |        |   |                                                                            |   |
| CLOSED                                BLOCK LIABILITIES:                                                                                                                                                                                                                                      |   |                                                  |        |   |                                                                            |   |
| Future                                policy benefits, policyholders’ account balances and                                other                                                                                                                                                         |   | **$**                                                 | **8,678.0** |   |                                                                            | $      | 8,759.5 |   |
| Policyholder                                dividend obligation                                                                                                                                                                                                                               |   | ** **                                            | **-**       |   |                                                                            |   | 3.2 |   |
| Other                                liabilities                                                                                                                                                                                                                                              |   | ** **                                            | **29.5**    |   |                                                                            |   | 29.1 |   |
| Total                                Closed Block liabilities                                                                                                                                                                                                                                 |   | ** **                                            | **8,707.5** |   |                                                                            |   | 8,791.8 |   |
|                                                                                                                                                                                                                                                                                          |   |                                                  |        |   |                                                                            |   |   |   |
| ASSETS                                DESIGNATED TO THE CLOSED BLOCK:                                                                                                                                                                                                                         |   |                                                  |        |   |                                                                            |   |   |   |
| Fixed maturities, available for sale, at estimated fair value(amortized cost of $5,972.9 and $5,967.6)                                                                                                                                                                                        |   | ** **                                            | **5,928.3** |   |                                                                            |   | 6,019.4 |   |
| Mortgage                                loans on real estate                                                                                                                                                                                                                                  |   | ** **                                            | **737.7**   |   |                                                                            |   | 809.4 |   |
| Policy                                loans                                                                                                                                                                                                                                                   |   | ** **                                            | **1,207.7** |   |                                                                            |   | 1,233.1 |   |
| Cash                                and other invested assets                                                                                                                                                                                                                                 |   | ** **                                            | **73.0**    |   |                                                                            |   | 6.8 |   |
| Other                                assets                                                                                                                                                                                                                                                   |   | ** **                                            | **310.0**   |   |                                                                            |   | 286.2 |   |
| Total                                assets designated to the Closed Block                                                                                                                                                                                                                    |   | ** **                                            | **8,256.7** |   |                                                                            |   | 8,354.9 |   |
|                                                                                                                                                                                                                                                                                          |   |                                                  |        |   |                                                                            |   |   |   |
| Excess of Closed Block liabilities over assets designated                                to  the Closed Block                                                                                                                                                                            |   | ** **                                            | **450.8**   |   |                                                                            |   | 436.9 |   |
|                                                                                                                                                                                                                                                                                          |   |                                                  |        |   |                                                                            |   |   |   |
| Amounts                                included in accumulated other comprehensive income:                                                                                                                                                                                                    |   |                                                  |        |   |                                                                            |   |   |   |
| Net                                unrealized investment (losses) gains, net of deferred income                                tax (benefit)                                expense of ($15.5) and $17.0 and policyholder dividend                                obligation of zero and $3.2 |   | ** **                                            | **(29.0**   | **)**  |                                                                            |   | 31.6 |   |
|                                                                                                                                                                                                                                                                                          |   |                                                  |        |   |                                                                            |   |   |   |
| Maximum Future Earnings To Be Recognized From Closed Block                                Assets and                                Liabilities                                                                                                                                               |   | **$**                                                 | **421.8**   |   |                                                                            | $      | 468.5 |   |

----

|                                                                                                |   | **Three Months Ended                                September 30,** |      |   | **Nine Months Ended                                September 30,** |   |
|-----------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------|-----------|--------|--------------------------------------------------------------------|--------|
|                                                                                                |   | **2007**                                                            |      |   | 2006                                                               |   |   | **2007** |   |   | 2006 |   |
|                                                                                                |   | **(In Millions)**                                                   |      |
|                                                                                                |   |                                                                |      |   |                                                               |   |
| REVENUES:                                                                                           |   |                                                                |      |   |                                                               |   |   |   |   |   |   |   |
| Premiums                                and other income                                            |   | **$**                                                               | **94.8**  |   |                                                               | $      | 99.4 |   |   | **$** | **304.8** |   |   | $ | 318.6 |   |
| Investment income (net of investment expenses of                                $0, $0, $0 and $.1) |   | ** **                                                          | **127.0** |   |                                                               |   | 129.8 |   |   | ** ** | **378.6** |   |   |   | 387.0 |   |
| Investment                                gains (losses), net                                       |   | ** **                                                          | **3.6**   |   |                                                               |   | 2.0 |   |   | ** ** | **7.5** |   |   |   | (.1 | ) |
| Total                                revenues                                                       |   | ** **                                                          | **225.4** |   |                                                               |   | 231.2 |   |   | ** ** | **690.9** |   |   |   | 705.5 |   |
|                                                                                                |   |                                                                |      |   |                                                               |   |   |   |   |   |   |   |   |   |   |   |
| BENEFITS AND OTHER DEDUCTIONS:                                                                      |   |                                                                |      |   |                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Policyholders’                                benefits and dividends                          |   | ** **                                                          | **190.4** |   |                                                               |   | 200.4 |   |   | ** ** | **618.0** |   |   |   | 637.2 |   |
| Other                                operating costs and expenses                                   |   | ** **                                                          | **.4**    |   |                                                               |   | .4 |   |   | ** ** | **1.8** |   |   |   | 2.2 |   |
| Total                                benefits and other deductions                                  |   | ** **                                                          | **190.8** |   |                                                               |   | 200.8 |   |   | ** ** | **619.8** |   |   |   | 639.4 |   |
|                                                                                                |   |                                                                |      |   |                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Net                                revenues before income taxes                                     |   | ** **                                                          | **34.6**  |   |                                                               |   | 30.4 |   |   | ** ** | **71.1** |   |   |   | 66.1 |   |
| Income                                taxes                                                         |   | ** **                                                          | **(12.1** | **)**  |                                                               |   | (11.1 | ) |   | ** ** | **(24.4** | **)** |   |   | (23.6 | ) |
| Net                                Revenues                                                         |   | **$**                                                               | **22.5**  |   |                                                               | $      | 19.3 |   |   | **$** | **46.7** |   |   | $ | 42.5 |   |

|                                                         |   | **Nine Months Ended                                September 30,** |     |
|--------------------------------------------------------------|--------|--------------------------------------------------------------------|----------|
|                                                         |   | **2007**                                                           |     |   | 2006 |   |
|                                                         |   | **(In Millions)**                                                  |     |
|                                                         |   |                                                               |     |   |   |   |
| Balances,                                beginning of year   |   | **$**                                                              | **3.2**  |   |   | $ | 73.7 |   |
| Unrealized                                investment losses  |   | ** **                                                         | **(3.2** | **)** |   |   | (72.7 | ) |
| Balances,                                End of Period  |   | **$**                                                              | **-**    |   |   | $ | 1.0 |   |

| **5)  ** | **DISCONTINUED OPERATIONS** |
|--------------------|-----------------------------|

----

|                                                                                                                                               |   | **Three Months Ended                                September 30** |    |   | **Nine Months Ended                                September 30,** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|---------|--------|--------------------------------------------------------------------|--------|
|                                                                                                                                               |   | **2007**                                                           |    |   | 2006                                                               |   |   | **2007** |   |   | 2006 |   |
|                                                                                                                                               |   | **(In Millions)**                                                  |    |
|                                                                                                                                               |   |                                                               |    |   |                                                               |   |   |   |   |   |   |   |
| ****Earnings (Losses) from Discontinued**                                    Operations, Net of                                    Income Taxes:** |   |                                                               |    |   |                                                               |   |   |   |   |   |   |   |
| Wind-up                                Annuities                                                                                                   |   | **$**                                                              | **-**   |   |                                                               | $      | 28.4 |   |   | **$** | **.5** |   |   | $ | 28.4 |   |
| Real                                estate held-for-sale                                                                                           |   | ** **                                                         | **2.4** |   |                                                               |   | 1.7 |   |   | ** ** | **(8.3** | **)** |   |   | 1.6 |   |
| Results                                of operations - Enterprise                                                                                  |   | ** **                                                         | **.1**  |   |                                                               |   | (2.2 | ) |   | ** ** | **.9** |   |   |   | (.5 | ) |
| Total                                                                                                                                              |   | **$**                                                              | **2.5** |   |                                                               | $      | 27.9 |   |   | **$** | **(6.9** | **)** |   | $ | 29.5 |   |
|                                                                                                                                               |   |                                                               |    |   |                                                               |   |   |   |   |   |   |   |   |   |   |   |
| ****Gains (Losses) on Disposal of Discontinued**                                Operations,                                Net of Income Taxes:**  |   |                                                               |    |   |                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Real                                estate held-for-sale                                                                                           |   | ** **                                                         | **3.2** |   |                                                               |   | - |   |   | ** ** | **3.2** |   |   |   | - |   |
| Disposal                                of business - Enterprise                                                                                   |   | ** **                                                         | **-**   |   |                                                               |   | - |   |   | ** ** | **(.4** | **)** |   |   | - |   |
| Total                                                                                                                                              |   | **$**                                                              | **3.2** |   |                                                               | $      | - |   |   | **$** | **2.8** |   |   | $ | - |   |

|                                                                                                                                                             |   | **September 30,                                2007** |      |   | December                                31,                                2006 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------|-----------|--------|---------------------------------------------------------------------------------|--------|
|                                                                                                                                                             |   | **(In Millions)**                                     |      |
|                                                                                                                                                             |   |                                                  |      |   |                                                                            |   |
| BALANCE                                SHEETS                                                                                                                    |   |                                                  |      |   |                                                                            |   |
| Fixed maturities, available for sale, at estimated fair                                value(amortized                                cost of $699.2 and $752.7) |   | **$**                                                 | **701.1** |   |                                                                            | $      | 764.8 |   |
| Equity                                real estate                                                                                                                |   | ** **                                            | **164.8** |   |                                                                            |   | 169.5 |   |
| Mortgage                                loans on real estate                                                                                                     |   | ** **                                            | **2.4**   |   |                                                                            |   | 2.9 |   |
| Other                                invested assets                                                                                                             |   | ** **                                            | **2.3**   |   |                                                                            |   | 2.6 |   |
| Total                                investments                                                                                                                 |   | ** **                                            | **870.6** |   |                                                                            |   | 939.8 |   |
| Cash                                and cash equivalents                                                                                                         |   | ** **                                            | **11.3**  |   |                                                                            |   | .1 |   |
| Other                                assets                                                                                                                      |   | ** **                                            | **25.2**  |   |                                                                            |   | 13.7 |   |
| Total                                Assets                                                                                                                      |   | **$**                                                 | **907.1** |   |                                                                            | $      | 953.6 |   |
|                                                                                                                                                             |   |                                                  |      |   |                                                                            |   |   |   |
| Policyholders                                liabilities                                                                                                         |   | **$**                                                 | **764.1** |   |                                                                            | $      | 788.2 |   |
| Allowance                                for future losses                                                                                                       |   | ** **                                            | **-**     |   |                                                                            |   | 1.0 |   |
| Other                                liabilities                                                                                                                 |   | ** **                                            | **143.0** |   |                                                                            |   | 164.4 |   |
| Total                                Liabilities                                                                                                                 |   | **$**                                                 | **907.1** |   |                                                                            | $      | 953.6 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                  |   | **Three Months Ended                                    September 30,** |     |   | **Nine Months Ended                                    September 30,** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------|----------|--------|------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                  |   | **2007**                                                                |     |   | 2006                                                                   |   |   | **2007** |   |   | 2006 |   |
|                                                                                                                                                                                                                                                                                                                                                                  |   | **(In Millions)**                                                       |     |
|                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                    |     |   |                                                                   |   |   |   |   |   |   |   |
| STATEMENTS OF EARNINGS                                                                                                                                                                                                                                                                                                                                                |   |                                                                    |     |   |                                                                   |   |   |   |   |   |   |   |
| Investment income (net of                                    investment expenses                                    of $5.0, $5.0, $14.8 and $14.0)                                                                                                                                                                                                              |   | **$**                                                                   | **15.0** |   |                                                                   | $      | 16.1 |   |   | **$** | **47.9** |   |   | $ | 52.2 |   |
| Investment gains, net                                                                                                                                                                                                                                                                                                                                                 |   | ** **                                                              | **1.4**  |   |                                                                   |   | 0.2 |   |   | ** ** | **5.7** |   |   |   | 5.4 |   |
| Total revenues                                                                                                                                                                                                                                                                                                                                                        |   | ** **                                                              | **16.4** |   |                                                                   |   | 16.3 |   |   | ** ** | **53.6** |   |   |   | 57.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                    |     |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Benefits and other deductions                                                                                                                                                                                                                                                                                                                                         |   | ** **                                                              | **21.2** |   |                                                                   |   | 22.2 |   |   | ** ** | **60.2** |   |   |   | 62.0 |   |
| Losses charged to the allowance for future losses                                                                                                                                                                                                                                                                                                                     |   | ** **                                                              | **(4.8** | **)**  |                                                                   |   | (5.9 | ) |   | ** ** | **(6.6** | **)** |   |   | (4.4 | ) |
| Pre-tax results from operations                                                                                                                                                                                                                                                                                                                                       |   | ** **                                                              | **-**    |   |                                                                   |   | - |   |   | ** ** | **-** |   |   |   | - |   |
| Pre-tax earnings from releasing the allowance for future                                    losses                                                                                                                                                                                                                                                                    |   | ** **                                                              | **.1**   |   |                                                                   |   | 34.9 |   |   | ** ** | **-** |   |   |   | 34.9 |   |
| Income tax (expense)                                    benefit                                                  |   | ** **                                                              | **-**    |   |                                                                   |   | (6.5 | ) |   | ** ** | **.5** |   |   |   | (6.5 | ) |
| Earnings from Wind-up Annuities                                                                                                                                                                                                                                                                                                                                  |   | **$**                                                                   | **.1**   |   |                                                                   | $      | 28.4 |   |   | **$** | **.5** |   |   | $ | 28.4 |   |

----

| **6)  ** | **GMDB, GMIB, AND NO LAPSE GUARANTEE FEATURES** |
|--------------------|-------------------------------------------------|

| ·   | Return                                of Premium: the benefit is the greater of current account value or                                premiums paid (adjusted for withdrawals); |
|----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Ratchet:                                the benefit is the greatest of current account value, premiums paid                                (adjusted for withdrawals), or the highest account value on any                                anniversary up to contractually specified ages (adjusted for                                withdrawals); |
|----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Roll-Up:                                the benefit is the greater of current account value or premiums                                paid (adjusted for withdrawals) accumulated at contractually                                specified interest rates up to specified ages; or |
|----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Combo:                                the benefit is the greater of the ratchet benefit or the roll-up                                benefit which may include a five year or an annual reset. |
|----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **GMDB**          |      |   | **GMIB** |       |      | **Total** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|----------|------------|-----------|-----------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **(In Millions)** |      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |              |      |   |     |       |      |      |   |
| Balance                                at January 1,                                2007                                                               |   | **$**             | **163.7** |   |     | **$**      | **228.3** |      |   | **$** | **392.0** |   |
| Paid                                guarantee benefits                                                                                                                                                                                                                                                                                                                                                                                                                       |   | ** **        | **(24.8** | **)**  |     | ** ** | **(2.1**  | **)**     |   | ** ** | **(26.9** | **)** |
| Other                                changes in reserve                                                                                                                                                                                                                                                                                                                                                                                                                      |   | ** **        | **90.1**  |   |     | ** ** | **34.2**  |      |   | ** ** | **124.3** |   |
| Balance                                at September 30, 2007                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **$**             | **229.0** |   |     | **$**      | **260.4** |      |   | **$** | **489.4** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |              |      |   |     |       |      |      |   |   |   |   |
| Balance                                at January 1, 2006                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $                 | 115.2     |   |     | $          | 173.6     |      |   | $ | 288.8 |   |
| Paid                                guarantee benefits                                                                                                                                                                                                                                                                                                                                                                                                                       |   |              | (26.0     | )      |     |       | (2.9      | )         |   |   | (28.9 | ) |
| Other                                changes in reserve                                                                                                                                                                                                                                                                                                                                                                                                                      |   |              | 59.4      |   |     |       | 37.7      |      |   |   | 97.1 |   |
| Balance                                at September 30, 2006                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $                 | 148.6     |   |     | $          | 208.4     |      |   | $ | 357.0 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **Nine Months Ended                                September 30,** |     |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **2007**                                                           |     |   | 2006 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **(In Millions)**                                                  |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                               |     |   |   |   |
| Balance                                at beginning of year                                                                                                                                                                                                                                                                                                                                                                            |   | **$**                                                              | **23.6** |   |   | $ | 22.7 |   |
| Paid                                guarantee benefits                                                                                                                                                                                                                                                                                                                                                                                 |   | ** **                                                         | **(7.4** | **)** |   |   | (7.9 | ) |
| Other                                changes in reserve                                                                                                                                                                                                                                                                                                                                                                                |   | ** **                                                         | **9.8**  |   |   |   | 8.8 |   |
| Balance                                at End of                                Period                                                         |   | **$**                                                              | **26.0** |   |   | $ | 23.6 |   |

----

|                                                       |   | **Return                                Of                                Premium** |   |   | **Ratchet** | ** ** | ** ** | **Roll-Up ** | ** ** | ** ** | **Combo ** | ** ** | ** ** | **Total**  |   |
|------------------------------------------------------------|--------|-------------------------------------------------------------------------------------|--------|--------|-------------|------------|------------|-------------------|------------|------------|-----------------|------------|------------|-----------------|--------|
|                                                       |   | **(Dollars In Millions)**                                                           |   |
|                                                       |   |                                                                                |   |   |        |       |       |              |       |       |            |       |       |            |   |
| GMDB:                                                      |   |                                                                                |   |   |        |       |       |              |       |       |            |       |       |            |   |
| Account                                values invested in: |   |                                                                                |   |   |        |       |       |              |       |       |            |       |       |            |   |
| General                                Account             |   | $                                                                                   | 10,695 |   |        | $          | 386        |              |       | $          | 310             |       |       | $               | 779    |   |   | $ | 12,141 |   |
| Separate                                Accounts           |   | $                                                                                   | 29,135 |   |        | $          | 8,652      |              |       | $          | 7,752           |       |       | $               | 30,200 |   |   | $ | 75,739 |   |
| Net                                amount at risk, gross   |   | $                                                                                   | 200    |   |        | $          | 130        |              |       | $          | 1,231           |       |       | $               | 69     |   |   | $ | 1,630 |   |
| Net amount at risk, net of amounts reinsured          |   | $                                                                                   | 200    |   |        | $          | 93         |              |       | $          | 746             |       |       | $               | 69     |   |   | $ | 1,188 |   |
| Average attained age of contractholders                    |   |                                                                                | 49.4   |   |        |       | 61.4       |              |       |       | 65.1            |       |       |            | 61.5   |   |   |   | 52.9 |   |
| Percentage of contractholders over age 70                  |   |                                                                                | 7.4    | %      |        |       | 23.5       | %                 |       |       | 36.5            | %          |       |            | 21.9   | % |   |   | 12.1 | % |
| Range of contractually specified interestrates             |   | N/A                                                                                 |   |   | N/A         |       |       |              | 3%-6       | %          |            |       | 3%-6       | %               |   |   |   |   |
|                                                       |   |                                                                                |   |   |        |       |       |              |       |       |            |       |       |            |   |   |   |   |   |   |
| GMIB:                                                      |   |                                                                                |   |   |        |       |       |              |       |       |            |       |       |            |   |   |   |   |   |   |
| Account                                values invested in: |   |                                                                                |   |   |        |       |       |              |       |       |            |       |       |            |   |   |   |   |   |   |
| General                                Account             |   | N/A                                                                                 |   |   | N/A         |       |       | $                 | 72         |       |            | $          | 1,003      |            |   | $ | 1,075 |   |
| Separate                                Accounts           |   | N/A                                                                                 |   |   | N/A         |       |       | $                 | 5,029      |       |            | $          | 40,549     |            |   | $ | 45,578 |   |
| Net                                amount at risk, gross   |   | N/A                                                                                 |   |   | N/A         |       |       | $                 | 172        |       |            |       | -          |            |   | $ | 172 |   |
| Net amount at risk, net of amounts reinsured               |   | N/A                                                                                 |   |   | N/A         |       |       | $                 | 44         |       |            |       | -          |            |   | $ | 44 |   |
| Weighted average years remaining until annuitization       |   | N/A                                                                                 |   |   | N/A         |       |       |              | 2.1        |       |            |       | 8.2        |            |   |   | 7.4 |   |
| Range of contractually specified interest rates       |   | N/A                                                                                 |   |   | N/A         |       |       |              | 3%-6       | %          |            |       | 3%-6       | %               |   |   |   |   |

----

| **Investment in Variable Insurance Trust Mutual Funds** |   |
|---------------------------------------------------------|--------|
|                                                    |   |   |   |
|                                                    |   | **September 30,                                2007** |   |   | December                                31,                                2006 |   |
|                                                    |   | **(In Millions)** |   |
|                                                    |   |   |   |
| GMDB:                                                   |   |   |   |   |   |   |
| Equity                                                  |   | **$** | **49,414** |   |   | $ | 42,885 |   |
| Fixed                                income             |   | ** ** | **4,483** |   |   |   | 4,438 |   |
| Balanced                                                |   | ** ** | **19,580** |   |   |   | 14,863 |   |
| Other                                                   |   | ** ** | **2,262** |   |   |   | 2,121 |   |
| Total                                                   |   | **$** | **75,739** |   |   | $ | 64,307 |   |
|                                                    |   |   |   |   |   |   |   |   |
| GMIB:                                                   |   |   |   |   |   |   |   |   |
| Equity                                                  |   | **$** | **27,714** |   |   | $ | 22,828 |   |
| Fixed                                income             |   | ** ** | **2,764** |   |   |   | 2,727 |   |
| Balanced                                                |   | ** ** | **13,994** |   |   |   | 10,439 |   |
| Other                                                   |   | ** ** | **1,106** |   |   |   | 990 |   |
| Total                                                   |   | **$** | **45,578** |   |   | $ | 36,984 |   |

----

|                                                         |   | **Direct                                Liability** |      |   | **Reinsurance                                Ceded** |       |      | **Net** |   |
|--------------------------------------------------------------|--------|-----------------------------------------------------|-----------|--------|------------------------------------------------------|------------|-----------|---------|--------|
|                                                         |   | **(In Millions)**                                   |      |
|                                                         |   |                                                |      |   |                                                 |       |      |    |   |
| Balance                                at January 1, 2007    |   | **$**                                               | **66.8**  |   |                                                 | **$**      | **(47.9** | **)**   |   | **$** | **18.9** |   |
| Other                                changes in reserves     |   | ** **                                          | **57.3**  |   |                                                 | ** ** | **(50.5** | **)**   |   | ** ** | **6.8** |   |
| Balance                                at September 30, 2007 |   | **$**                                               | **124.1** |   |                                                 | **$**      | **(98.4** | **)**   |   | **$** | **25.7** |   |
|                                                         |   |                                                |      |   |                                                 |       |      |    |   |   |   |   |
| Balance                                at January 1, 2006    |   | $                                                   | 34.8      |   |                                                 | $          | (20.4     | )       |   | $ | 14.4 |   |
| Other                                changes in reserves     |   |                                                | 22.3      |   |                                                 |       | (19.2     | )       |   |   | 3.1 |   |
| Balance                                at September 30, 2006 |   | $                                                   | 57.1      |   |                                                 | $          | (39.6     | )       |   | $ | 17.5 |   |

| **7)  ** | **EMPLOYEE BENEFIT PLANS** |
|--------------------|----------------------------|

|                                                                                 |                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |                                                                                                                                                                                                                          |   |
|--------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                 | **Three Months Ended****September                                            30,**                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | **Nine Months Ended**September                                        30,****                                                                                                                             |   |
|                                                                                 | **2007**                                                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 2006                                                                                                                                                                                                                |   |   | **2007**                                                                                   |   |   | 2006                                                                                   |   |
|                                                                                 |                                                                                                                                                                                   | **(In Millions)**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                 |                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |                                                                                                                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Service cost                                                                         |                                                                                                                                                                                   | **$**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | **9.6**   |                                                                                                                                                                                                                          |   | $ | 9.3 |   |   | **$** | **29.4** |   |   | $ | 28.3 |   |
| Interest cost on projected benefit                                        obligation |                                                                                                                                                                                   | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | **32.1**  |                                                                                                                                                                                                                          |   |   | 30.5 |   |   | ** ** | **96.6** |   |   |   | 91.6 |   |
| Expected return on assets                                                            |                                                                                                                                                                                   | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | **(47.8** | **)**                                                                                                                                                                                                                         |   |   | (46.3 | ) |   | ** ** | **(143.4** | **)** |   |   | (138.8 | ) |
| Net amortization and deferrals                                                       |                                                                                                                                                                                   | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | **14.4**  |                                                                                                                                                                                                                          |   |   | 20.3 |   |   | ** ** | **43.3** |   |   |   | 61.0 |   |
| Net Periodic Pension Expense                                                         |                                                                                                                                                                                   | **$**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | **8.3**   |                                                                                                                                                                                                                          |   | $ | 13.8 |   |   | **$** | **25.9** |   |   | $ | 42.1 |   |

| **8)  ** | **ACCOUNTING FOR SHARE-BASED COMPENSATION** |
|--------------------|---------------------------------------------|

----

| **9)  ** | **INCOME TAXES** |
|--------------------|------------------|

----

| **10)  ** | **LITIGATION** |
|---------------------|----------------|

----

----

| **11)  ** | **SEGMENT INFORMATION** |
|---------------------|-------------------------|

|                                                                                                                          |   | **Three Months Ended****September 30,** |        |   | **Nine Months Ended****September 30,** |   |
|-------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|-------------|--------|----------------------------------------|--------|
|                                                                                                                          |   | **2007**                                |        |   | 2006                                   |   |   | **2007** |   |   | 2006 |   |
|                                                                                                                          |   | **(In Millions)**                       |        |
|                                                                                                                          |   |                                    |        |
| **Segment revenues:**                                                                                                         |   |                                    |        |   |                                   |   |   |   |   |   |   |   |
| Insurance                                                                                                                     |   | **$**                                   | **1,801.4** |   |                                   | $      | 1,496.9 |   |   | **$** | **4,909.6** |   |   | $ | 4,516.3 |   |
| Investment                                Management                                                                (1)  |   | ** **                              | **1,161.4** |   |                                   |   | 938.5 |   |   | ** ** | **3,386.8** |   |   |   | 2,812.5 |   |
| Consolidation/elimination                                                                                                     |   | ** **                              | **(24.3**   | **)**  |                                   |   | (22.1 | ) |   | ** ** | **(71.8** | **)** |   |   | (66.6 | ) |
| Total                                Revenues                                                                                 |   | **$**                                   | **2,938.5** |   |                                   | $      | 2,413.3 |   |   | **$** | **8,224.6** |   |   | $ | 7,262.2 |   |
|                                                                                                                          |   |                                    |        |   |                                   |   |   |   |   |   |   |   |   |   |   |   |

| **Segment earnings from continuing operations                                before****income                                taxes                                and minority interest:** |   |       |      |   |   |   |   |   |   |       |        |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|-----------|--------|--------|--------|--------|--------|--------|------------|-------------|--------|
| Insurance                                                                                                                                                                                  |   | **$**      | **384.5** |   |   | $      | 147.7  |   |   | **$**      | **912.8**   |   |   | $ | 731.0 |   |
| Investment                                Management                                                                                                                                       |   | ** ** | **386.1** |   |   |   | 267.5  |   |   | ** ** | **1,037.7** |   |   |   | 803.5 |   |
| Consolidation/elimination                                                                                                                                                                  |   | ** ** | **(.3**   | **)**  |   |   | -      |   |   | ** ** | **(.5**     | **)**  |   |   | - |   |
| Total                                Earnings from Continuing Operations before                                Income                                Taxes and Minority Interest      |   | **$**      | **770.3** |   |   | $      | 415.2  |   |   | **$**      | **1,950.0** |   |   | $ | 1,534.5 |   |

|                                                 | **September 30,****2007** |          |   | December                                31,                                    2006 |   |
|------------------------------------------------------|---------------------------|---------------|--------|-------------------------------------------------------------------------------------|--------|
|                                                 | **(In Millions)**         |          |
|                                                 |                      |          |   |                                                                                |   |
| **Segment assets:**                                  |                      |          |   |                                                                                |   |
| Insurance                                            | **$**                     | **145,207.8** |   |                                                                                | $      | 133,047.0 |   |
| Investment                                Management | ** **                | **16,379.3**  |   |                                                                                |   | 16,239.4 |   |
| Consolidation/elimination                            | ** **                | **(10.0**     | **)**  |                                                                                |   | (.3 | ) |
| Total                                Assets     | **$**                     | **161,577.1** |   |                                                                                | $      | 149,286.1 |   |

** **

| **12)  ** | **RELATED PARTY TRANSACTIONS** |
|---------------------|--------------------------------|

----

| **13)  ** | **COMPREHENSIVE INCOME** |
|---------------------|--------------------------|

|                                                                                                                                                              |   | **Three Months Ended****September 30,** |      |   | **Nine Months Ended****September 30,** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|-----------|--------|----------------------------------------|--------|
|                                                                                                                                                              |   | **2007**                                |      |   | 2006                                   |   |   | **2007** |   |   | 2006 |   |
|                                                                                                                                                              |   | **(In Millions)**                       |      |
|                                                                                                                                                              |   |                                    |      |
| Net                                earnings                                                                                                                       |   | **$**                                   | **362.4** |   |                                   | $      | 308.4 |   |   | **$** | **880.2** |   |   | $ | 857.8 |   |
|                                                                                                                                                              |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Change in unrealized gains (losses), net of                                reclassification                                adjustment                             |   | ** **                              | **22.1**  |   |                                   |   | 379.0 |   |   | ** ** | **(230.5** | **)** |   |   | (147.5 | ) |
| Change in net losses not yet recognized in periodic benefit                                cost,net                                of reclassification adjustment |   | ** **                              | **10.4**  |   |                                   |   | - |   |   | ** ** | **28.1** |   |   | ** ** | **-** |   |
|                                                                                                                                                              |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Other                                comprehensive income (loss)                                                                                                  |   | ** **                              | **32.5**  |   |                                   |   | 379.0 |   |   | ** ** | **(202.4** | **)** |   | ** ** | (147.5 | ) |
|                                                                                                                                                              |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive  Income                                                                                                                              |   | **$**                                   | **394.9** |   |                                   | $      | 687.4 |   |   | **$** | **677.8** |   |   | **$** | 710.3 |   |

----

**Item                2.**

**MANAGEMENT’S                DISCUSSION AND ANALYSIS OF FINANCIAL**

**CONDITION                AND RESULTS OF OPERATIONS**

**CONSOLIDATED                RESULTS OF OPERATIONS**

**Nine                Months Ended September 30, 2007 Compared to Nine Months Ended September 30,                2006**

** **

----

*Revenues*

*Benefits and                Other Deductions*

----

*Premiums and                Deposits*

----

*Surrenders                and Withdrawals.*

*Assets Under                Management.*

**Assets                Under Management**

**(In                Millions)**

|                              |   | **September 30,**                                                                                                                                                     |        |
|-----------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|
|                              |   | **2007**                                                                                                                                                                             |        |   | 2006 |   |
|                              |   |                                                                                                                                                                                      |        |   |   |   |
| Third-party                       |   | **$**                                                                                                                                                                                     | **744,997** |   |   | $ | 590,225 |   |
| General Account and other         |   | ** **                                                                                                                                                                                | **49,223**  |   |   |   | 50,797 |   |
| Insurance Group Separate Accounts |   | ** **                                                                                                                                                                                | **97,544**  |   |   |   | 78,409 |   |
| Total Assets Under Management     |   | **$**                                                                                                                                                                                     | **891,764** |   |   | $ | 719,431 |   |

**LIQUIDITY                AND CAPITAL RESOURCES**

*AXA                Equitable*

----

*AllianceBernstein*

**Item                3.                      QUANTITATIVE                AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

**Item                4.                      CONTROLS                AND PROCEDURES**

----

**          **

| **PART                        II ** | **OTHER                        INFORMATION**                                                                                                                                                                                                                                                                                                                                                                                               |
|------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **Item                        1.**       | **Legal                        Proceedings**                                                                                                                                                                                                                                                                                                                                                                                               |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                     | See Note                        10 of Notes to Consolidated Financial Statements contained                        herein.  Except as disclosed in Note 10 of Notes to Consolidated                        Financial Statements, there have been no new material legal proceedings and                        no new material developments in legal proceedings previously reported in                        the 2006 Form 10-K. |
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| **Item                        1A.**      | **Risk                        Factors**                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                     | There                        have been no material changes to the risk factors described in Part I, Item                        1A, “Risk Factors,” of the 2006 Form 10-K.                                                                                                                                                                                                                                                     |
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| **Item 2.**                              | **Unregistered Sales of Equity Securities and Use of                                Proceeds**                                                                                                                                                                                                                                                                                                                                             |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                     | None                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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| **Item 3.**                              | **Defaults Upon Senior Securities**                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                     | None                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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| **Item 4.**                              | **Submission of Matters to a Vote of Security Holders**                                                                                                                                                                                                                                                                                                                                                                                    |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                     | None                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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| **Item 5.**                              | **Other Information**                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                     | None                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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| **Item 6.**                              | **Exhibits**                                                                                                                                                                                                                                                                                                                                                                                                                               |

|        | Number |               | Description                                and Method of Filing                                                                                                                         |
|--------|--------|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |          |                                                                                                                                                                                    |
|        | 31.1   |               | Certification                                of the Registrant’s Chief Executive Officer pursuant to                                Section 302 of the Sarbanes-Oxley Act of 2002 |
|        |   |               |                                                                                                                                                                                    |
|        | 31.2   |               | Certification                                of the Registrant’s Chief Financial Officer pursuant to                                Section 302 of the Sarbanes-Oxley Act of 2002 |
|        |   |               |                                                                                                                                                                                    |
|        | 32.1   |               | Certification                                of the Registrant’s Chief Executive Officer pursuant to                                Section 906 of the Sarbanes-Oxley Act of 2002 |
|        |   |               |                                                                                                                                                                                    |
|        | 32.2   |     | Certification                                of the Registrant’s Chief Financial Officer pursuant to                                Section 906 of the Sarbanes-Oxley Act of 2002 |

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**SIGNATURES**

|  Date:                                                                                                              | November                                9,                                2007                                  | AXA                        EQUITABLE LIFE INSURANCE COMPANY  |
|--------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|
|                                                                                                                     |                                                                                                                 |                                                              |   |
|                                                                                                                     |                                                                                                                 |                                                              |   |
|                                                                                                                     |                                                                                                                 |                                                              |   |
|                                                                                                                     |                                                                                                                 | By:                                                               | /s/                                *Richard S.                                Dziadzio*                                  |
|                                                                                                                     |                                                                                                            |                                                              | Name: | Richard                                S.                                Dziadzio                                  |
|                                                                                                                     |                                                                                                            |                                                              | Title: | Executive                                Vice President                                and                                  |
|                                                                                                                     |                                                                                                            |                                                              |   | Chief                                Financial                                Officer                                  |
|                                                                                                                     |                                                                                                            |                                                              |   |
|                                                                                                                     |                                                                                                            |                                                              |   |
| Date:                                                                                                                    | November                                9,                                2007                                  |                                                              | /s/                                *Alvin H. Fenichel* |
|                                                                                                                     |                                                                                                            |                                                              | Name: | Alvin                                H. Fenichel |
|                                                                                                                     |                                                                                                            |                                                              | Title:                                                                                                         | Senior                                Vice President and Controller |
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