**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**               |
|--------------------------------------------------------------------------------------|
| (Exact                name of registrant as specified in its                charter) |

|                            |                |
|---------------------------------|---------------------|
| 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.) |

**x  ****o**

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

**o  ****x**

**REDUCED DISCLOSURE FORMAT:**

----

**AXA      EQUITABLE LIFE INSURANCE COMPANY**

**FORM      10-Q**

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

**TABLE      OF CONTENTS**

|                      |                                                                                                                                                                | Page   |
|---------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| PART                  I   | FINANCIAL                  INFORMATION                                                                                                                              |   |
|                      |                                                                                                                                                                |   |
| Item                  1:  | Consolidated                  Financial Statements                                                                                                                  |   |
|                      | ·                   Consolidated Balance Sheets, June 30, 2007 and December                  31,                  2006                                    | 4      |
|                      | ·                     Consolidated Statements of Earnings, Three Months and                    Six Months                    Ended June 30, 2007 and 2006 | 5      |
|                      | ·                     Consolidated Statements of Shareholder’s Equity, Six Months Ended                    June 30, 2007 and 2006                   | 6      |
|                      | ·                     Consolidated Statements of Cash Flows, Six Months Ended                    June 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”)   | 23     |
|                      |                                                                                                                                                                |   |
| Item                  3:  | Quantitative                  and Qualitative Disclosures About Market Risk*                                                                                        | 27     |
|                      |                                                                                                                                                                |   |
| Item                  4:  | Controls                  and Procedures                                                                                                                            | 27     |
|                      |                                                                                                                                                                |   |
|                      |                                                                                                                                                                |   |
| PART                  II  | OTHER                  INFORMATION                                                                                                                                  |   |
|                      |                                                                                                                                                                |   |
| Item                  1:  | Legal                  Proceedings                                                                                                                                  | 28     |
|                      |                                                                                                                                                                |   |
| Item                  1A: | Risk                  Factors                                                                                                                                       | 28     |
|                      |                                                                                                                                                                |   |
| Item                  2:  | Unregistered                  Sales of Equity Securities and Use of Proceeds                                                                                        | 28     |
|                      |                                                                                                                                                                |   |
| Item                  3:  | Defaults                  Upon Senior Securities                                                                                                                    | 28     |
|                      |                                                                                                                                                                |   |
| Item                  4:  | Submission                  of Matters to a Vote of Security Holders                                                                                                | 28     |
|                      |                                                                                                                                                                |   |
| Item                  5:  | Other                  Information                                                                                                                                  | 28     |
|                      |                                                                                                                                                                |   |
| Item                  6:  | Exhibits                                                                                                                                                            | 28     |
|                      |                                                                                                                                                                |   |
| SIGNATURES           |                                                                                                                                                                | 29     |

----

**FORWARD-LOOKING      STATEMENTS**

----

**PART      I FINANCIAL INFORMATION**

**Item      1: Consolidated Financial Statements.**

**AXA      EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED      BALANCE SHEETS**

|                                                                                                                   |   | **June                30,**      |          |                        |   |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------------|-----------------------------|--------|
|                                                                                                                   |   | **2007**                         |          | December                31, |   |
|                                                                                                                   |   | **(Unaudited)**                  |          | 2006                        |   |
|                                                                                                                   |   | **(In                Millions)** |          |
|                                                                                                                   |   |                             |          |
| **ASSETS**                                                                                                             |   |                        |          |                   |   |
| Investments:                                                                                                           |   |                        |          |                   |   |
| Fixed                maturities available for sale, at estimated fair value                                            |   | **$**                            | **27,706.8**  |                        | $      | 29,031.1 |   |
| Mortgage                loans on real estate                                                                           |   |                             | **3,272.3**   |                        |   | 3,240.7 |   |
| Equity                real estate, held for the production of income                                                   |   |                             | **491.8**     |                        |   | 506.1 |   |
| Policy                loans                                                                                            |   |                             | **3,900.5**   |                        |   | 3,898.1 |   |
| Other                equity investments                                                                                |   |                             | **1,910.4**   |                        |   | 1,562.1 |   |
| Trading                securities                                                                                      |   |                             | **642.0**     |                        |   | 465.1 |   |
| Other                invested assets                                                                                   |   |                             | **955.1**     |                        |   | 891.6 |   |
| Total                investments                                                                                       |   |                             | **38,878.9**  |                        |   | 39,594.8 |   |
| Cash                and cash equivalents                                                                               |   |                             | **1,579.0**   |                        |   | 1,268.0 |   |
| Cash                and securities segregated, at estimated fair value                                                 |   |                             | **1,548.7**   |                        |   | 1,864.0 |   |
| Broker-dealer                related receivables                                                                       |   |                             | **3,944.1**   |                        |   | 3,481.0 |   |
| Deferred                policy acquisition costs                                                                       |   |                             | **8,960.4**   |                        |   | 8,316.5 |   |
| Goodwill                and other intangible assets, net                                                               |   |                             | **3,738.2**   |                        |   | 3,738.6 |   |
| Amounts                due from reinsurers                                                                             |   |                             | **2,758.0**   |                        |   | 2,689.3 |   |
| Loans                to affiliates                                                                                     |   |                             | **-**         |                        |   | 400.0 |   |
| Other                assets                                                                                            |   |                             | **3,093.0**   |                        |   | 3,132.3 |   |
| Separate                Accounts’ assets                                                                         |   |                             | **93,271.8**  |                        |   | 84,801.6 |   |
| **Total                Assets**                                                                                        |   | **$**                            | **157,772.1** |                        | $      | 149,286.1 |   |
|                                                                                                                   |   |                             |          |                        |   |   |   |
| **LIABILITIES**                                                                                                        |   |                             |          |                        |   |   |   |
| Policyholders’                account balances                                                                   |   | **$**                            | **25,684.1**  |                        | $      | 26,439.0 |   |
| Future                policy benefits and other policyholders liabilities                                              |   |                             | **14,180.3**  |                        |   | 14,085.4 |   |
| Broker-dealer                related payables                                                                          |   |                             | **1,143.6**   |                        |   | 950.3 |   |
| Customers                related payables                                                                              |   |                             | **4,072.4**   |                        |   | 3,980.7 |   |
| Amounts                due to reinsurers                                                                               |   |                             | **1,087.0**   |                        |   | 1,070.8 |   |
| Short-term                and long-term debt                                                                           |   |                             | **767.9**     |                        |   | 783.0 |   |
| Loans                from affiliates                                                                                   |   |                             | **325.0**     |                        |   | 325.0 |   |
| Income                taxes payable                                                                                    |   |                             | **2,839.3**   |                        |   | 2,974.8 |   |
| Other                liabilities                                                                                       |   |                             | **2,204.1**   |                        |   | 1,815.2 |   |
| Separate                Accounts’ liabilities                                                                    |   |                             | **93,271.8**  |                        |   | 84,801.6 |   |
| Minority                interest in equity of consolidated subsidiaries                                                |   |                             | **2,488.2**   |                        |   | 2,289.9 |   |
| Minority                interest subject to redemption rights                                                          |   |                             | **143.6**     |                        |   | 288.0 |   |
| Total                liabilities                                                                                       |   |                             | **148,207.3** |                        |   | 139,803.7 |   |
|                                                                                                                   |   |                             |          |                        |   |   |   |
| Commitments                and contingent liabilities (Note 10)                                                        |   |                             |          |                        |   |   |   |
|                                                                                                                   |   |                             |          |                        |   |   |   |
| **SHAREHOLDER’S                EQUITY**                                                                          |   |                             |          |                        |   |   |   |
| Common                  stock, $1.25 par value, 2.0 million shares authorized, issued and                  outstanding |   |                             | **2.5**       |                        |   | 2.5 |   |
| Capital                in excess of par value                                                                          |   |                             | **5,194.4**   |                        |   | 5,139.6 |   |
| Retained                earnings                                                                                       |   |                             | **4,770.2**   |                        |   | 4,507.6 |   |
| Accumulated                other comprehensive loss                                                                    |   |                             | **(402.3**    | **)**                       |   | (167.3 | ) |
| Total                shareholder’s equity                                                                        |   |                             | **9,564.8**   |                        |   | 9,482.4 |   |
| **Total                Liabilities and Shareholder’s Equity**                                                    |   | **$**                            | **157,772.1** |                        | $      | 149,286.1 |   |

----

**AXA      EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED      STATEMENTS OF EARNINGS**

**(UNAUDITED)**

|                                                                                                                |   | **Three                  Months Ended**  |        | **Six                  Months Ended**  |   |
|---------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|-------------|---------------------------------------------|--------|
|                                                                                                                |   | **June                  30,**            |        | **June                  30,**          |   |
|                                                                                                                |   | **2007**                                      |        | 2006                                   |   | **2007**  |   | 2006  |   |
|                                                                                                                |   | **(In                  Millions)**       |        |
|                                                                                                                |   |                                          |        |                                        |   |   |   |   |   |
| **REVENUES**                                                                                                        |   |                                          |        |                                   |   |    |   |    |   |
|                                                                                                                |   |                                          |        |                                   |   |    |   |    |   |
| Universal                    life and investment-type product policy fee income                                     |   | **$**                                         | **673.5**   |                                        | $      | 549.6 |   | **$** | **1,299.4** |   | $ | 1,073.2 |   |
| Premiums                                                                                                            |   |                                          | **201.8**   |                                        |   | 204.2 |   |   | **410.1** |   |   | 406.5 |   |
| Net                  investment income                                                                              |   |                                          | **479.8**   |                                        |   | 715.9 |   |   | **1,114.1** |   |   | 1,258.7 |   |
| Investment                  gains, net                                                                              |   |                                          | **6.7**     |                                        |   | 13.3 |   |   | **24.6** |   |   | 45.1 |   |
| Commissions,                  fees and other income                                                                 |   |                                          | **1,247.8** |                                        |   | 1,126.8 |   |   | **2,440.7** |   |   | 2,070.7 |   |
| Total                  revenues                                                                                     |   |                                          | **2,609.6** |                                        |   | 2,609.8 |   |   | **5,288.9** |   |   | 4,854.2 |   |
|                                                                                                                |   |                                          |        |                                        |   |   |   |   |   |   |   |   |   |
| **BENEFITS                  AND OTHER DEDUCTIONS**                                                                  |   |                                          |        |                                        |   |   |   |   |   |   |   |   |   |
| Policyholders’                  benefits                                                                      |   |                                          | **466.8**   |                                        |   | 492.1 |   |   | **973.2** |   |   | 944.9 |   |
| Interest                    credited to policyholders’ account balances                                       |   |                                          | **260.5**   |                                        |   | 242.5 |   |   | **520.8** |   |   | 515.8 |   |
| Compensation                  and benefits                                                                          |   |                                          | **607.6**   |                                        |   | 490.7 |   |   | **1,194.7** |   |   | 965.1 |   |
| Commissions                                                                                                         |   |                                          | **456.7**   |                                        |   | 357.2 |   |   | **889.2** |   |   | 690.6 |   |
| Distribution                  plan payments                                                                         |   |                                          | **84.8**    |                                        |   | 72.8 |   |   | **162.5** |   |   | 143.8 |   |
| Amortization                  of deferred sales commissions                                                         |   |                                          | **24.8**    |                                        |   | 23.6 |   |   | **49.5** |   |   | 50.0 |   |
| Interest                  expense                                                                                   |   |                                          | **19.0**    |                                        |   | 18.4 |   |   | **38.3** |   |   | 36.3 |   |
| Amortization                  of deferred policy acquisition costs                                                  |   |                                          | **170.3**   |                                        |   | 264.7 |   |   | **378.0** |   |   | 348.0 |   |
| Capitalization                  of deferred policy acquisition costs                                                |   |                                          | **(433.1**  | **)**                                       |   | (338.1 | ) |   | **(846.1** | **)** |   | (652.9 | ) |
| Rent                  expense                                                                                       |   |                                          | **52.4**    |                                        |   | 51.5 |   |   | **103.5** |   |   | 96.0 |   |
| Amortization                  of other intangible assets                                                            |   |                                          | **6.1**     |                                        |   | 5.9 |   |   | **12.0** |   |   | 11.8 |   |
| Other                  operating costs and expenses                                                                 |   |                                          | **325.0**   |                                        |   | 299.5 |   |   | **630.8** |   |   | 580.2 |   |
| Total                  benefits and other deductions                                                                |   |                                          | **2,040.9** |                                        |   | 1,980.8 |   |   | **4,106.4** |   |   | 3,729.6 |   |
|                                                                                                                |   |                                          |        |                                        |   |   |   |   |   |   |   |   |   |
| Earnings                    from continuing operations before income                    taxes and minority interest |   |                                          | **568.7**   |                                        |   | 629.0 |   |   | **1,182.5** |   |   | 1,124.6 |   |
| Income                  taxes                                                                                       |   |                                          | **(155.7**  | **)**                                       |   | (171.9 | ) |   | **(327.7** | **)** |   | (310.2 | ) |
| Minority                    interest in net income of consolidated subsidiaries                                     |   |                                          | **(180.2**  | **)**                                       |   | (140.2 | ) |   | **(325.3** | **)** |   | (263.2 | ) |
|                                                                                                                |   |                                          |        |                                        |   |   |   |   |   |   |   |   |   |
| Earnings                  from continuing operations                                                                |   |                                          | **232.8**   |                                        |   | 316.9 |   |   | **529.5** |   |   | 551.2 |   |
| Losses                    from discontinued operations, net of income                    taxes                 |   |                                          | **(14.6**   | **)**                                       |   | (2.6 | ) |   | **(11.3** | **)** |   | (1.8 | ) |
| Loss                    on disposal of discontinued operations, net of income taxes                                 |   |                                          | **-**       |                                        |   | - |   |   | **(.4** | **)** |   | - |   |
|                                                                                                                |   |                                          |        |                                        |   |   |   |   |   |   |   |   |   |
| Net                  Earnings                                                                                       |   | **$**                                         | **218.2**   |                                        | $      | 314.3 |   | **$** | **517.8** |   | $ | 549.4 |   |

----

**AXA      EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED      STATEMENTS OF SHAREHOLDER’S EQUITY**

**SIX      MONTHS ENDED JUNE 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                        |   |                             | **54.8**    |         |   | 69.7 |   |
| Capital                in excess of par value, end of period                    |   |                             | **5,194.4** |         |   | 5,046.0 |   |
|                                                                            |   |                             |        |         |   |   |   |
| 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                                                     |   |                             | **517.8**   |         |   | 549.4 |   |
| Shareholder                dividends paid                                       |   |                             | **(300.0**  | **)**        |   | (300.0 | ) |
| Retained                earnings, end of period                                 |   |                             | **4,770.2** |         |   | 4,280.2 |   |
|                                                                            |   |                             |        |         |   |   |   |
| Accumulated                other comprehensive (loss) income, beginning of year |   |                             | **(167.3**  | **)**        |   | 432.3 |   |
| Other                comprehensive loss                                         |   |                             | **(235.0**  | **)**        |   | (526.5 | ) |
| Accumulated                other comprehensive loss, end of period              |   |                             | **(402.3**  | **)**        |   | (94.2 | ) |
|                                                                            |   |                             |        |         |   |   |   |
| **Total                Shareholder’s Equity, End of Period**              |   | **$**                            | **9,564.8** |         | $      | 9,234.5 |   |

----

**AXA      EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED      STATEMENTS OF CASH FLOWS**

**SIX      MONTHS ENDED JUNE 30, 2007 AND 2006**

**(UNAUDITED)**

|                                                                                                              |   | **2007**                         |            | 2006         |   |
|-------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|-----------------|--------------|--------|
|                                                                                                              |   | **(In                Millions)** |            |
|                                                                                                              |   |                        |            |    |   |
| Net                earnings                                                                                       |   | **$**                            | **517.8**       |         | $      | 549.4 |   |
| Adjustments                to reconcile net earnings to net cash provided by                operating activities: |   |                             |            |         |   |   |   |
| Interest                credited to policyholders’ account balances                                         |   |                             | **520.8**       |         |   | 515.8 |   |
| Universal                life and investment-type product policy fee income                                       |   |                             | **(1,299.4**    | **)**        |   | (1,073.2 | ) |
| Net                change in broker-dealer and customer related                receivables/payables               |   |                             | **(420.6**      | **)**        |   | 334.3 |   |
| Investment                gains, net                                                                              |   |                             | **(24.6**       | **)**        |   | (45.1 | ) |
| Change                in segregated cash and securities, net                                                      |   |                             | **315.3**       |         |   | (140.7 | ) |
| Change                in deferred policy acquisition costs                                                        |   |                             | **(468.1**      | **)**        |   | (304.9 | ) |
| Change                in future policy benefits                                                                   |   |                             | **5.6**         |         |   | (25.2 | ) |
| Change                in income taxes payable                                                                     |   |                             | **76.1**        |         |   | 244.2 |   |
| Minority                interest in net income of consolidated subsidiaries                                       |   |                             | **325.3**       |         |   | 263.2 |   |
| Change                  in fair value of guaranteed minimum income benefit                  reinsurance contracts |   |                             | **48.0**        |         |   | (17.2 | ) |
| Amortization                of deferred sales commissions                                                         |   |                             | **49.5**        |         |   | 50.0 |   |
| Other                depreciation and amortization                                                                |   |                             | **71.1**        |         |   | 69.6 |   |
| Amortization                of other intangible assets                                                            |   |                             | **12.0**        |         |   | 11.8 |   |
| Change                in accounts payable and accrued expenses                                                    |   |                             | **496.7**       |         |   | 201.7 |   |
| Other,                net                                                                                         |   |                             | **93.8**        |         |   | 25.5 |   |
|                                                                                                              |   |                             |            |         |   |   |   |
| Net                cash provided by operating activities                                                          |   |                             | **319.3**       |         |   | 659.2 |   |
|                                                                                                              |   |                             |            |         |   |   |   |
| Cash                flows from investing activities:                                                              |   |                             |            |         |   |   |   |
| Maturities                and repayments of fixed maturities and mortgage loans                                   |   |                             | **1,232.4**     |         |   | 1,496.2 |   |
| Sales                of investments                                                                               |   |                             | **1,403.3**     |         |   | 1,179.6 |   |
| Purchases                of investments.                                                                          |   |                             | **(2,087.9**    | **)**        |   | (2,846.7 | ) |
| Change                in short-term investments                                                                   |   |                             | **7.4**         |         |   | 72.4 |   |
| Decrease                in loans to affiliates                                                                    |   |                             |  **400.0** |         |   |  - |   |
| Change in                  capitalized software, leasehold improvements and                  EDP equipment   |   |                             | **(87.2**       | **)**        |   | (64.6 | ) |
| Other,                net                                                                                         |   |                             | **(267.2**      | **)**        |   | (90.5 | ) |
|                                                                                                              |   |                             |            |         |   |   |   |
| Net                cash provided by (used in) investing activities                                                |   |                             | **600.8**       |         |   | (253.6 | ) |
|                                                                                                              |   |                             |            |         |   |   |   |

----

**AXA      EQUITABLE LIFE INSURANCE COMPANY**

**CONSOLIDATED      STATEMENTS OF CASH FLOWS**

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

**(UNAUDITED)**

|                                                          |   | **2007**                         |         | 2006         |    |
|---------------------------------------------------------------|--------|----------------------------------|--------------|--------------|---------|
|                                                          |   | **(In                Millions)** |         |
|                                                          |   |                        |         |    |    |
|                                                          |   |                        |         |    |    |
| Cash                flows from financing activities:          |   |                        |         |    |    |
| Policyholders’                account balances:         |   |                        |         |    |    |
| Deposits                                                      |   | **$**                       | **2,028.5**  |         | $  | 1,994.5 |   |
| Withdrawals                and transfers to Separate Accounts |   |                             | **(2,063.5** | **)**        |    | (1,630.0 | ) |
| Net                change in short-term financings            |   |                             | **(15.2**    | **)**        |    | 7.9 |   |
| Shareholder                dividends paid                     |   |                             | **(300.0**   | **)**        |    | (300.0 | ) |
| Other,                net                                     |   |                             | **(258.9**   | **)**        |    | (222.2 | ) |
|                                                          |   |                             |         |         |    |   |   |
| Net                cash used in financing activities          |   |                             | **(609.1**   | **)**        |    | (149.8 | ) |
|                                                          |   |                             |         |         |    |   |   |
| Change                in cash and cash equivalents            |   |                             | **311.0**    |         |    | 255.8 |   |
| Cash                and cash equivalents, beginning of year   |   |                             | **1,268.0**  |         |    | 1,112.1 |   |
|                                                          |   |                             |         |         |    |   |   |
| Cash                and Cash Equivalents, End of Period       |   | **$**                            | **1,579.0**  |         | $       | 1,367.9 |   |
|                                                          |   |                             |
| Supplemental                cash flow information             |   |                             |         |         |    |   |   |
| Interest                Paid                                  |   | **$**                            | **28.7**     |         | $       | 26.5 |   |
| Income                Taxes Paid                              |   | **$**                            | **217.6**    |         | $       | 88.7 |   |

----

**AXA      EQUITABLE LIFE INSURANCE COMPANY**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**(UNAUDITED)**

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

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

----

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

|                                                              |   |  **Six                  Months Ended** |     |
|-------------------------------------------------------------------|--------|---------------------------------------------|----------|
|                                                              |   |  **June                  30,**         |     |
|                                                              |   |  **2007**                              |     | 2006 |   |
|                                                              |   |  **(In                  Millions)**    |     |
|                                                              |   |                                   |     |    |   |
| Balances,                  beginning of year                      |   | **$**                                       | **11.3** |   | $ | 11.8 |   |
| Additions                  charged to income                      |   |                                        | **-**    |   |   | 0.1 |   |
| Deductions                  for writedowns and asset dispositions |   |                                        | **(3.3** | **)** |   | (0.4 | ) |
| Balances,                  End of Period                          |   | **$**                                       | **8.0**  |   | $ | 11.5 |   |
|                                                              |   |                                        |     |   |   |   |   |

----

|                                                                                 |   |   | **June                      30,**      |   |   | December                      31, |   |
|--------------------------------------------------------------------------------------|--------|--------|----------------------------------------|--------|--------|-----------------------------------|--------|
|                                                                                 |   |   | **2007**                               |   |   | 2006                         |   |
|                                                                                 |   |   | **(In                      Millions)** |   |
|                                                                                 |   |   |                                   |   |   |                              |   |
| Impaired                      mortgage loans with investment valuation allowances    |   | **$**  | **68.3**                               |   | $      | 76.8                              |   |
| Impaired                      mortgage loans without investment valuation allowances |   |   | **3.5**                                |   |   | 0.1                               |   |
| Recorded                      investment in impaired mortgage loans                  |   |   | **71.8**                               |   |   | 76.9                              |   |
| Investment                      valuation allowances                                 |   |   | **(8.0**                               | **)**  |   | (11.3                             | )      |
| Net                      Impaired Mortgage Loans                                     |   | **$**  | **63.8**                               |   | $      | 65.6                              |   |

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

----

|                                                                                                                                                                                                                                                                       |   |  **June                  30,**      |        |  December                  31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------|-------------|-------------------------------------|--------|
|                                                                                                                                                                                                                                                                       |   |  **2007**                           |        |  2006                          |   |
|                                                                                                                                                                                                                                                                       |   |  **(In                  Millions)** |        |
|                                                                                                                                                                                                                                                                       |   |                                |        |
| CLOSED                  BLOCK LIABILITIES:                                                                                                                                                                                                                                 |   |                                |        |                           |   |
| Future                  policy benefits, policyholders’ account balances and other                                                                                                                                                                                   |   | **$**                                    | **8,701.5** |                                | $      | 8,759.5 |   |
| Policyholder                  dividend obligation                                                                                                                                                                                                                          |   |                                     | **-**       |                                |   | 3.2 |   |
| Other                  liabilities                                                                                                                                                                                                                                         |   |                                     | **35.1**    |                                |   | 29.1 |   |
| Total                  Closed Block liabilities                                                                                                                                                                                                                            |   |                                     | **8,736.6** |                                |   | 8,791.8 |   |
|                                                                                                                                                                                                                                                                       |   |                                     |        |                                |   |   |   |
| ASSETS                  DESIGNATED TO THE CLOSED BLOCK:                                                                                                                                                                                                                    |   |                                     |        |                                |   |   |   |
| Fixed                    maturities, available for sale, at estimated fair value (amortized                    cost of $6,007.7 and $5,967.6)                                                                                                                              |   |                                     | **5,928.9** |                                |   | 6,019.4 |   |
| Mortgage                  loans on real estate                                                                                                                                                                                                                             |   |                                     | **792.8**   |                                |   | 809.4 |   |
| Policy                  loans                                                                                                                                                                                                                                              |   |                                     | **1,216.3** |                                |   | 1,233.1 |   |
| Cash                  and other invested assets                                                                                                                                                                                                                            |   |                                     | **8.3**     |                                |   | 6.8 |   |
| Other                  assets                                                                                                                                                                                                                                              |   |                                     | **294.7**   |                                |   | 286.2 |   |
| Total                  assets designated to the Closed Block                                                                                                                                                                                                               |   |                                     | **8,241.0** |                                |   | 8,354.9 |   |
|                                                                                                                                                                                                                                                                       |   |                                     |        |                                |   |   |   |
| Excess                    of Closed Block liabilities over assets designated to the Closed                    Block                                                                                                                                                        |   |                                     | **495.6**   |                                |   | 436.9 |   |
|                                                                                                                                                                                                                                                                       |   |                                     |        |                                |   |   |   |
| Amounts                  included in accumulated other comprehensive income:                                                                                                                                                                                               |   |                                     |        |                                |   |   |   |
| Net                      unrealized investment (losses) gains, net of deferred income                      tax (benefit)                      expense of ($27.5) and $17.0 and policyholder dividend obligation                      of zero                      and $3.2 |   |                                     | **(51.3**   | **)**                               |   | 31.6 |   |
|                                                                                                                                                                                                                                                                       |   |                                     |        |                                |   |   |   |
| Maximum                    Future Earnings To Be Recognized From Closed Block Assets and                    Liabilities                                                                                                                                                    |   | **$**                                    | **444.3**   |                                | $      | 468.5 |   |

|                                                                                                      |   |  **Three                  Months Ended** |      |  **Six                  Months Ended** |   |
|-----------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|-----------|---------------------------------------------|--------|
|                                                                                                      |   |  **June                  30,**           |      |  **June                  30,**         |   |
|                                                                                                      |   |  **2007**                                |      |  2006                                  |   |  **2007** |   |  2006 |   |
|                                                                                                      |   |  **(In                  Millions)**      |      |
|                                                                                                      |   |                                     |      |                                   |   |    |   |    |   |
| REVENUES:                                                                                                 |   |                                     |      |                                   |   |    |   |    |   |
| Premiums                  and other income                                                                |   | **$**                                         | **104.3** |                                        | **$**  | 108.1 |   | $ | **210.0** |   | $ | 219.2 |   |
| Investment                    income (net of investment expenses of $0, $0, $0 and                    $0) |   |                                          | **124.4** |                                        |   | 126.2 |   |   | **251.6** |   |   | 257.2 |   |
| Investment                  gains (losses), net                                                           |   |                                          | **3.0**   |                                        |   | (3.0 | ) |   | **3.9** |   |   | (2.1 | ) |
| Total                  revenues                                                                           |   |                                          | **231.7** |                                        |   | 231.3 |   |   | **465.5** |   |   | 474.3 |   |
|                                                                                                      |   |                                          |      |                                        |   |   |   |   |   |   |   |   |   |
| BENEFITS                  AND                                                                             |   |                                          |      |                                        |   |   |   |   |   |   |   |   |   |
| OTHER                  DEDUCTIONS:                                                                        |   |                                          |      |                                        |   |   |   |   |   |   |   |   |   |
| Policyholders’                  benefits and dividends                                              |   |                                          | **212.3** |                                        |   | 213.7 |   |   | **427.6** |   |   | 436.8 |   |
| Other                  operating costs and expenses                                                       |   |                                          | **.1**    |                                        |   | .8 |   |   | **1.4** |   |   | 1.8 |   |
| Total                  benefits and other deductions                                                      |   |                                          | **212.4** |                                        |   | 214.5 |   |   | **429.0** |   |   | 438.6 |   |
|                                                                                                      |   |                                          |      |                                        |   |   |   |   |   |   |   |   |   |
| Net                  revenues before income taxes                                                         |   |                                          | **19.3**  |                                        |   | 16.8 |   |   | **36.5** |   |   | 35.7 |   |
| Income                  taxes                                                                             |   |                                          | **(7.1**  | **)**                                       |   | (6.2 | ) |   | **(12.3** | **)** |   | (12.8 | ) |
| Net                  Revenues                                                                             |   | **$**                                         | **12.2**  |                                        | $      | 10.6 |   | **$** | **24.2** |   | $ | 22.9 |   |

----

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

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

|                                                                                                        |   |  **Three                  Months Ended** |      |  **Six                  Months Ended** |   |
|-------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|-----------|---------------------------------------------|--------|
|                                                                                                        |   |  **June                  30,**           |      |  **June                  30,**         |   |
|                                                                                                        |   | **2007**                                      |      | 2006                                        |   | **2007** |   | 2006 |   |
|                                                                                                        |   |  **(In                  Millions)**      |      |
|                                                                                                        |   |                                     |      |                                   |   |    |   |    |   |
|                                                                                                        |   |                                     |      |                                   |   |    |   |    |   |
| **Losses                  from Discontinued **Operations,                  Net of Income Taxes:****    |   |                                     |      |                                   |   |    |   |    |   |
| Wind-up                  Annuities                                                                          |   | **$**                                         | **(.5**   | **)**                                       | $      | .2 |   | **$** | **.4** |   | $ | - |   |
| Real                  estate held-for-sale                                                                  |   |                                          | **(14.4** | **)**                                       |   | (3.5 | ) |   | **(12.6** | **)** |   | (3.5 | ) |
| Results                  of operations - Enterprise                                                         |   |                                          | **.3**    |                                        |   | .7 |   |   | **.9** |   |   | 1.7 |   |
| Total                                                                                                       |   | **$**                                         | **(14.6** | **)**                                       | $      | (2.6 | ) | **$** | **(11.3** | **)** | $ | (1.8 | ) |
|                                                                                                        |   |                                          |      |                                        |   |   |   |   |   |   |   |   |   |
| **Loss                  on Disposal of Discontinued Operations, N**et                  of Income Taxes:**** |   |                                          |      |                                        |   |   |   |   |   |   |   |   |   |
| Disposal                  of business - Enterprise                                                          |   |                                          | **-**     |                                        |   | - |   |   | **(.4** | **)** |   | - |   |
| Total                                                                                                       |   | **$**                                         | **-**     |                                        | $      | - |   | **$** | **(.4** | **)** | $ | - |   |
|                                                                                                        |   |                                          |      |                                        |   |   |   |   |   |   |   |   |   |

|                                                                                                                                      |   |  **June                  30,** |      | December                  31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|-----------|-------------------------------|--------|
|                                                                                                                                      |   |  **2007**                      |      | 2006                          |   |
| BALANCE                  SHEETS                                                                                                           |   |                           |      |                          |   |
| Fixed                    maturities, available for sale, at estimated fair value (amortized                    cost of $685.5 and $752.7) |   | **$**                               | **683.6** |                          | $      | 764.8 |   |
| Equity                  real estate                                                                                                       |   |                                | **165.0** |                          |   | 169.5 |   |
| Mortgage                  loans on real estate                                                                                            |   |                                | **2.5**   |                          |   | 2.9 |   |
| Other                  invested assets                                                                                                    |   |                                | **2.2**   |                          |   | 2.6 |   |
| Total                  investments                                                                                                        |   |                                | **853.3** |                          |   | 939.8 |   |
| Cash                  and cash equivalents                                                                                                |   |                                | **37.2**  |                          |   | .1 |   |
| Other                  assets                                                                                                             |   |                                | **26.1**  |                          |   | 13.7 |   |
| Total                  Assets                                                                                                             |   | **$**                               | **916.6** |                          | $      | 953.6 |   |
|                                                                                                                                      |   |                                |      |                          |   |   |   |
| Policyholders                  liabilities                                                                                                |   | **$**                               | **771.1** |                          | $      | 788.2 |   |
| Allowance                  for future losses                                                                                              |   |                                | **-**     |                          |   | 1.0 |   |
| Other                  liabilities                                                                                                        |   |                                | **145.5** |                          |   | 164.4 |   |
| Total                  Liabilities                                                                                                        |   | **$**                               | **916.6** |                          | $      | 953.6 |   |

----

|                                                                                                                                                           |   |  **Three                    Months Ended** |     |  **Six                    Months Ended** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|----------|-----------------------------------------------|--------|
|                                                                                                                                                           |   |  **June                    30,**           |     |  **June                    30,**         |   |
|                                                                                                                                                           |   | **2007**                                        |     | 2006                                          |   | **2007** |   | 2006 |   |
|                                                                                                                                                           |   |  **(In                    Millions)**      |     |
|                                                                                                                                                           |   |                                       |     |                                     |   |    |   |    |   |
| STATEMENTS                    OF EARNINGS                                                                                                                      |   |                                       |     |                                     |   |    |   |    |   |
| Investment                        income (net of investment expenses of $4.8, $4.5, $9.8 and                        $9.1)                                      |   | **$**                                           | **16.5** |                                          | $      | 18.4 |   | **$** | **32.9** |   | $ | 36.1 |   |
| Investment                    gains, net                                                                                                                       |   |                                            | **2.8**  |                                          |   | 4.8 |   |   | **4.3** |   |   | 5.2 |   |
| Total                    revenues                                                                                                                              |   |                                            | **19.3** |                                          |   | 23.2 |   |   | **37.2** |   |   | 41.3 |   |
|                                                                                                                                                           |   |                                            |     |                                          |   |   |   |   |   |   |   |   |   |
| Benefits                    and other deductions                                                                                                               |   |                                            | **20.4** |                                          |   | 18.7 |   |   | **39.1** |   |   | 39.8 |   |
| (Losses                      charged) earnings credited to the allowance for future                      losses                                                |   |                                            | **(1.1** | **)**                                         |   | 4.5 |   |   | **(1.9** | **)** |   | 1.5 |   |
| Pre-tax                    results from operations                                                                                                             |   |                                            | **-**    |                                          |   | - |   |   | **-** |   |   | - |   |
| Pre-tax                      (loss) earnings from strengthening/releasing  the                      allowance for                      future losses |   |                                            | **(1.1** | **)**                                         |   | .3 |   |   | **(.1** | **)** |   | - |   |
| Income                    tax benefit (expense)                                                                                                                |   |                                            | **.6**   |                                          |   | (.1 | ) |   | **.5** |   |   | - |   |
| (Losses)                      Earnings from Wind-up                      Annuities                                                                             |   | **$**                                           | **(.5**  | **)**                                         | $      | .2 |   | **$** | **.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**    |   | **$** | **392.0** |   |
| Paid                guarantee benefits    |   |                             | **(13.2** | **)**        |   | **(1.7**     | **)**  |   | **(14.9** | **)** |
| Other                changes in reserve   |   |                             | **60.1**  |         |   | **6.1**      |   |   | **66.2** |   |
| Balance                at June 30, 2007   |   | **$**                            | **210.6** |         | **$**  | **232.7**    |   | **$** | **443.3** |   |
|                                      |   |                             |      |         |   |         |   |   |   |   |
| Balance                at January 1, 2006 |   | $                                | 115.2     |         | $      | 173.6        |   | $ | 288.8 |   |
| Paid                guarantee benefits    |   |                             | (17.4     | )            |   | (1.6         | )      |   | (19.0 | ) |
| Other                changes in reserve   |   |                             | 40.7      |         |   | (1.3         | )      |   | 39.4 |   |
| Balance                at June 30, 2006   |   | $                                | 138.5     |         | $      | 170.7        |   | $ | 309.2 |   |

|                                        |   | **Six                Months Ended** |     |
|---------------------------------------------|--------|-------------------------------------|----------|
|                                        |   | **June                30,**         |     |
|                                        |   |  **2007**                      |     |  **2006** |   |
|                                        |   | **(In                Millions)**    |     |
|                                        |   |                           |     |    |   |
| Balance                at beginning of year |   | **$**                               | **23.6** |   | $ | 22.7 |   |
| Paid                guarantee benefits      |   |                                | **(4.8** | **)** |   | (5.2 | ) |
| Other                changes in reserve     |   |                                | **7.3**  |   |   | (6.5 | ) |
| Balance                at End of Period     |   | **$**                               | **26.1** |   | $ | 24.0 |   |

----

|                                                                     |   | **Return**                                 |   |         |   |         |   |         |   |         |   |
|--------------------------------------------------------------------------|--------|--------------------------------------------|--------|--------------|--------|--------------|--------|--------------|--------|--------------|--------|
|                                                                     |   | **Of**                                     |   |         |   |         |   |         |   |         |   |
|                                                                     |   | **Premium**                                |   | **Ratchet**  |   | **Roll-Up**  |   | **Combo**    |   | **Total**    |   |
|                                                                     |   | **(Dollars                  In Millions)** |   |
|                                                                     |   |                                  |   |    |   |    |   |    |   |    |   |
| GMDB:                                                                    |   |                                  |   |    |   |    |   |    |   |    |   |
| Account                  values invested in:                             |   |                                  |   |    |   |    |   |    |   |    |   |
| General                  Account                                         |   | $                                          | 10,903 |         | $      | 386          |   | $            | 312    |         | $      | 734 |   | $ | 12,335 |   |
| Separate                  Accounts                                       |   | $                                          | 27,944 |         | $      | 8,402        |   | $            | 7,793  |         | $      | 27,888 |   | $ | 72,027 |   |
| Net                  amount at risk, gross                               |   | $                                          | 227    |         | $      | 161          |   | $            | 1,286  |         | $      | 64 |   | $ | 1,738 |   |
| Net                    amount at risk, net of amounts reinsured     |   | $                                          | 227    |         | $      | 116          |   | $            | 784    |         | $      | 64 |   | $ | 1191 |   |
| Average                    attained age of contractholders               |   |                                       | 49.3   |         |   | 61.3         |   |         | 64.9   |         |   | 61.5 |   |   | 52.7 |   |
| Percentage                    of contractholders over age 70             |   |                                       | 7.3    | %            |   | 23.4         | %      |         | 35.9   | %            |   | 21.6 | % |   | 12.0 | % |
| Range                    of contractually specified interest rates       |   |                                       | N/A    |         |   | N/A          |   |         | 3%-6   | %            |   | 3%-6 | % |   |   |   |
|                                                                     |   |                                       |   |         |   |         |   |         |   |         |   |   |   |   |   |   |
| GMIB:                                                                    |   |                                       |   |         |   |         |   |         |   |         |   |   |   |   |   |   |
| Account                  values invested in:                             |   |                                       |   |         |   |         |   |         |   |         |   |   |   |   |   |   |
| General                  Account                                         |   |                                       | N/A    |         |   | N/A          |   | $            | 72     |         | $      | 950 |   | $ | 1,022 |   |
| Separate                  Accounts                                       |   |                                       | N/A    |         |   | N/A          |   | $            | 5,120  |         | $      | 37,567 |   | $ | 42,687 |   |
| Net                  amount at risk, gross                               |   |                                       | N/A    |         |   | N/A          |   | $            | 199    |         |   | - |   | $ | 199 |   |
| Net                    amount at risk, net of amounts reinsured          |   |                                       | N/A    |         |   | N/A          |   | $            | 51     |         |   | - |   | $ | 51 |   |
| Weighted                    average years remaining until annuitization  |   |                                       | N/A    |         |   | N/A          |   |         | 2.2    |         |   | 8.3 |   |   | 2.2 |   |
| Range                    of contractually specified interest rates  |   |                                       | N/A    |         |   | N/A          |   |         | 3%-6   | %            |   | 3%-6 | % |   |   |   |

----

| **Investment                in Variable Insurance Trust Mutual Funds** |   |
|------------------------------------------------------------------------|--------|
|                                                                   |   |   |   |
|                                                                   |   | **June                30,** |   | December                31, |   |
|                                                                   |   | **2007** |   | 2006 |   |
|                                                                   |   | **(In                Millions)** |   |
|                                                                   |   |   |   |
| GMDB:                                                                  |   |    |   |    |   |
| Equity                                                                 |   | **$** | **47,374** |   | $ | 42,885 |   |
| Fixed                income                                            |   |   | **4,485** |   |   | 4,438 |   |
| Balanced                                                               |   |   | **17,978** |   |   | 14,863 |   |
| Other                                                                  |   |   | **2,190** |   |   | 2,121 |   |
| Total                                                                  |   | **$** | **72,027** |   | $ | 64,307 |   |
|                                                                   |   |   |   |   |   |   |   |
| GMIB:                                                                  |   |   |   |   |   |   |   |
| Equity                                                                 |   | **$** | **26,135** |   | $ | 22,828 |   |
| Fixed                income                                            |   |   | **2,765** |   |   | 2,727 |   |
| Balanced                                                               |   |   | **12,745** |   |   | 10,439 |   |
| Other                                                                  |   |   | **1,042** |   |   | 990 |   |
| Total                                                                  |   | **$** | **42,687** |   | $ | 36,984 |   |

----

|                                      |   | **Direct**                       |     | **Reinsurance** |   |         |   |
|-------------------------------------------|--------|----------------------------------|----------|-----------------|--------|--------------|--------|
|                                      |   | **Liability**                    |     | **Ceded**       |   | **Net**      |   |
|                                      |   | **(In                Millions)** |     |
|                                      |   |                        |     |       |   |    |   |
| Balance                at January 1, 2007 |   | **$**                            | **66.8** |            | **$**  | **(47.9**    | **)**  | **$** | **18.9** |   |
| Other                changes in reserves  |   |                             | **23.7** |            |   | **(20.5**    | **)**  |   | **3.2** |   |
| Balance                at June 30, 2007   |   | **$**                            | **90.5** |            | **$**  | **(68.4**    | **)**  | **$** | **22.1** |   |
|                                      |   |                             |     |            |   |         |   |   |   |   |
| Balance                at January 1, 2006 |   | $                                | 34.8     |            | $      | (20.4        | )      | $ | 14.4 |   |
| Other                changes in reserves  |   |                             | 13.1     |            |   | (12.0        | )      |   | 1.1 |   |
| Balance                at June 30, 2006   |   | $                                | 47.9     |            | $      | (32.4        | )      | $ | 15.5 |   |

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

|                                                             |   |  **Three                  Months Ended** |      |  **Six                  Months Ended** |   |
|------------------------------------------------------------------|--------|-----------------------------------------------|-----------|---------------------------------------------|--------|
|                                                             |   |  **June                  30,**           |      |  **June                  30,**         |   |
|                                                             |   |  **2007**                                |      |  2006                                  |   |  **2007** |   |  2006 |   |
|                                                             |   | **(In                  Millions)**            |      |
|                                                             |   |                                     |      |                                   |   |    |   |    |   |
| Service                  cost                                    |   | **$**                                         | **9.5**   |                                        | $      | 9.5 |   | **$** | **19.0** |   | $ | 19.0 |   |
| Interest                    cost on projected benefit obligation |   |                                          | **31.9**  |                                        |   | 30.6 |   |   | **63.9** |   |   | 61.1 |   |
| Expected                  return on assets                       |   |                                          | **(47.9** | **)**                                       |   | (46.3 | ) |   | **(95.7** | **)** |   | (92.5 | ) |
| Net                  amortization and deferrals                  |   |                                          | **13.5**  |                                        |   | 20.4 |   |   | **27.0** |   |   | 40.7 |   |
| Net                  Periodic Pension Expense                    |   | **$**                                         | **7.0**   |                                        | $      | 14.2 |   | **$** | **14.2** |   | $ | 28.3 |   |

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

----

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

----

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

----

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

|                                                                                                                                                                   |   | **Three                  Months Ended** |        | **Six                  Months Ended** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|-------------|---------------------------------------|--------|
|                                                                                                                                                                   |   | **June                  30,**           |        | **June                  30,**         |   |
|                                                                                                                                                                   |   | **2007**                                |        | 2006                                  |   | **2007** |   | 2006 |   |
|                                                                                                                                                                   |   | **(In                  Millions)**      |        |
|                                                                                                                                                                   |   |                               |        |                             |   |    |   |    |   |
| **Segment                  revenues:**                                                                                                                                 |   |                               |        |                             |   |    |   |    |   |
| Insurance                                                                                                                                                              |   | **$**                                   | **1,464.8** |                                  | $      | 1,687.0 |   | **$** | **3,111.0** |   | $ | 3,024.8 |   |
| Investment                  Management (1)                                                                                                                             |   |                                    | **1,169.1** |                                  |   | 945.1 |   |   | **2,225.4** |   |   | 1,873.9 |   |
| Consolidation/elimination                                                                                                                                              |   |                                    | **(24.3**   | **)**                                 |   | (22.3 | ) |   | **(47.5** | **)** |   | (44.5 | ) |
| Total                  Revenues                                                                                                                                        |   | **$**                                   | **2,609.6** |                                  | $      | 2,609.8 |   | **$** | **5,288.9** |   | $ | 4,854.2 |   |
|                                                                                                                                                                   |   |                                    |        |                                  |   |   |   |   |   |   |   |   |   |
| (1)                  Net of interest expense incurred on securities borrowed                                                                                           |
|                                                                                                                                                                   |   |                                    |        |                                  |   |   |   |   |   |   |   |   |   |
| **Segment                  earnings from continuing **operations                  before income **taxes                  and minority                  interest:****** |   |                                    |        |                                  |   |   |   |   |   |   |   |   |   |
| Insurance                                                                                                                                                              |   | **$**                                   | **209.6**   |                                  | $      | 359.7 |   | **$** | **531.1** |   | $ | 588.6 |   |
| Investment                  Management                                                                                                                                 |   |                                    | **359.3**   |                                  |   | 269.3 |   |   | **651.6** |   |   | 536.0 |   |
| Consolidation/elimination                                                                                                                                              |   |                                    | **(.2**     | **)**                                 |   | - |   |   | **(.2** | **)** |   | - |   |
| Total                      Earnings from Continuing Operations                      before Income Taxes and Minority Interest                                     |   | **$**                                   | **568.7**   |                                  | $      | 629.0 |   | **$** | **1,182.5** |   | $ | 1,124.6 |   |

|                                   |   |  **June                  30,** |          |  December                  31, |   |
|----------------------------------------|--------|-------------------------------------|---------------|-------------------------------------|--------|
|                                   |   |  **2007**                      |          |  2006                          |   |
|                                   |   | **(In                  Millions)**  |          |
| **Segment                  assets:**   |   |                           |          |                           |   |
| Insurance                              |   | **$**                               | **140,735.4** |                                | $      | 133,047.0 |   |
| Investment                  Management |   |                                | **17,046.2**  |                                |   | 16,239.4 |   |
| Consolidation/elimination              |   |                                | **(9.5**      | **)**                               |   | (.3 | ) |
| Total                  Assets          |   | **$**                               | **157,772.1** |                                | $      | 149,286.1 |   |

** **

----

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

| **13)  ** | **COMPREHENSIVE                (LOSS) INCOME** |
|---------------------|------------------------------------------------|

|                                                                                                                                            |   | **Three                Months Ended** |       | **Six                Months Ended** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|------------|-------------------------------------|--------|
|                                                                                                                                            |   | **June                30,**           |       | **June                30,**         |   |
|                                                                                                                                            |   | **2007**                              |       | 2006                                |   | **2007** |   | 2006 |   |
|                                                                                                                                            |   | **(In                Millions)**      |       |
|                                                                                                                                            |   |                                  |       |
| Net                earnings                                                                                                                     |   | **$**                                 | **218.2**  |                                | $      | 314.3 |   | **$** | **517.8** |   | $ | 549.4 |   |
|                                                                                                                                            |   |                                  |       |                                |   |   |   |   |   |   |   |   |   |
| Change                  in unrealized losses, net of reclassification                  adjustment                                               |   |                                  | **(273.4** | **)**                               |   | (226.7 | ) |   | **(252.6** | **)** |   | (526.5 | ) |
| Change                    in net losses not yet recognized in periodic benefit cost, net                    of reclassification adjustment |   |                                  | **8.8**    |                                |   | - |   |   | **17.6** |   |   | - |   |
|                                                                                                                                            |   |                                  |       |                                |   |   |   |   |   |   |   |   |   |
| Other                comprehensive loss                                                                                                         |   |                                  | **(264.6** | **)**                               |   | (226.7 | ) |   | **(235.0** | **)** |   | (526.5 | ) |
|                                                                                                                                            |   |                                  |       |                                |   |   |   |   |   |   |   |   |   |
| Comprehensive                (Loss) Income                                                                                                      |   | **$**                                 | **(46.4**  | **)**                               | $      | 87.6 |   | **$** | **282.8** |   | $ | 22.9 |   |

----

**Item      2.**

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

**CONDITION      AND RESULTS OF OPERATIONS**

**CONSOLIDATED      RESULTS OF OPERATIONS**

**Six      Months Ended June 30, 2007 Compared to Six Months Ended June 30,      2006**

** **

----

*Revenues*

*Benefits      and Other Deductions*

----

*Premiums      and Deposits*

----

*Surrenders      and Withdrawals.*

*Assets      Under Management. *

**Assets      Under Management**

**(In      Millions)**

|                                               |   | **June                  30,**            |        |
|----------------------------------------------------|--------|------------------------------------------|-------------|
|                                               |   | **2007**                            |        | 2006 |   |
|                                               |   | **(In                  Millions)**  |        |
|                                               |   |                                     |        |   |   |   |   |
| Third-party                                        |   | **$**                                    | **724,249** |   | $ | 556,947 |   |
| General                  Account and other         |   |                                     | **50,507**  |   |   | 50,443 |   |
| Insurance                  Group Separate Accounts |   |                                     | **93,465**  |   |   | 74,547 |   |
| Total                  Assets Under Management     |   | **$**                                    | **868,221** |   | $ | 681,937 |   |

**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.  |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **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.                                                                                                                                                                                                                                        |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **Item                2.**            | **Unregistered                Sales of Equity Securities and Use of Proceeds**                                                                                                                                                                                                                                                                                                                                             |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  | None                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **Item                3.**            | **Defaults                Upon Senior Securities**                                                                                                                                                                                                                                                                                                                                                                         |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  | None                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **Item                4.**            | **Submission                of Matters to a Vote of Security Holders**                                                                                                                                                                                                                                                                                                                                                     |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  | None                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **Item                5.**            | **Other                Information**                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  | None                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **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 |

----

**SIGNATURES**

| Date:  | August                13, 2007 | AXA                EQUITABLE LIFE INSURANCE COMPANY |
|--------|--------------------------------|-----------------------------------------------------|
|   |                           |                                                |
|   |                           |                                                |

|        |        | By:  | /s/                Richard S. Dziadzio |
|--------|--------|-----------|----------------------------------------|
|   |   |      | Name:                                  | Richard                S. Dziadzio |
|        |        |           | Title:                                 | Executive                Vice President and Chief Financial                Officer |

|   |   |   |
|--------|--------|--------|

| Date:  | August                  13, 2007 |   | /s/                  Alvin H. Fenichel |
|--------|----------------------------------|--------|----------------------------------------|
|   |                             |   | Name:                                  | Alvin                  H. Fenichel |
|   |                             |   | Title:                                 | Senior                    Vice President and Controller |

----