| AXA Equitable Life Insurance      Company                  |
|------------------------------------------------------------|
| (Exact      name of registrant as specified in itscharter) |

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

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

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

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

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

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

| Large accelerated      filer   o                                                                     | Accelerated filer  o              |
|----------------------------------------------------------------------------------------------------------------|----------------------------------------|
| Non-accelerated filer        x         (Do not check if a smaller reporting company.) | Smaller reporting company       o |

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

----

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

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

| Item      1:    | Consolidated      Financial Statements                                                  |   |
|-----------------|-----------------------------------------------------------------------------------------|--------|
|            | · Consolidated      Balance Sheets as of March 31, 2009 and December 31, 2008 | 4      |
|            | · Consolidated      Statements of Earnings for the Quarters Ended             |   |
|            | March      31, 2009 and 2008                                                            | 5      |
|            | · Consolidated      Statements of Equity and Comprehensive               |   |
|            |  (Loss)      Income for the Quarters Ended March 31, 2009 and 2008                 | 6      |
|            | · Consolidated      Statements of Cash Flows for the Quarters Ended           |   |
|            | March      31, 2009 and 2008                                                            | 7      |
|            | · Notes      to Consolidated Financial Statements                             | 9      |
|            |                                                                                    |   |
| Item      2:    | Management’s      Discussion and Analysis of Financial Condition and              |   |
|            | Results      of Operations (“Management Narrative”)                         | 26     |
|            |                                                                                    |   |
| Item      3:    | Quantitative      and Qualitative Disclosures About Market Risk *                       | 32     |
|            |                                                                                    |   |
| Item      4(T): | Controls      and Procedures                                                            | 32     |
|            |                                                                                    |   |
| PART      II    | OTHER      INFORMATION                                                                  |   |
|            |                                                                                    |   |
| Item      1:    | Legal      Proceedings                                                                  | 33     |
|            |                                                                                    |   |
| Item      1A:   | Risk      Factors                                                                       | 33     |
|            |                                                                                    |   |
| Item      2:    | Unregistered      Sales of Equity Securities and Use of Proceeds *                      | 33     |
|            |                                                                                    |   |
| Item      3:    | Defaults      Upon Senior Securities *                                                  | 33     |
|            |                                                                                    |   |
| Item      4:    | Submission      of Matters to a Vote of Security Holders *                              | 33     |
|            |                                                                                    |   |
| Item      5:    | Other      Information                                                                  | 33     |
|            |                                                                                    |   |
| Item      6:    | Exhibits                                                                                | 33     |
|            |
| SIGNATURES      |                                                                                    | 34     |

----

----

|                                                               |   | March      31, 2009 |      |   | December      31, |   |
|--------------------------------------------------------------------|--------|---------------------|-----------|--------|-------------------|--------|
|                                                               |   | (Unaudited)         |      |   | 2008              |   |
|                                                               |   | (In      Millions)  |      |
| ASSETS                                                             |   |                |      |   |              |   |
| Investments:                                                       |   |                |      |   |              |   |
| Fixed      maturities available for sale, at fair value            |   | $                   | 23,384.0  |   |              | $      | 23,831.0 |   |
| Mortgage      loans on real estate                                 |   |                | 3,629.5   |   |              |   | 3,673.9 |   |
| Equity      real estate, held for the production of income         |   |                | 363.4     |   |              |   | 370.3 |   |
| Policy      loans                                                  |   |                | 3,671.5   |   |              |   | 3,700.3 |   |
| Other      equity investments                                      |   |                | 1,486.5   |   |              |   | 1,646.8 |   |
| Trading      securities                                            |   |                | 383.7     |   |              |   | 322.7 |   |
| Other      invested assets                                         |   |                | 2,471.5   |   |              |   | 1,501.4 |   |
| Total      investments                                             |   |                | 35,390.1  |   |              |   | 35,046.4 |   |
| Cash      and cash equivalents                                     |   |                | 4,251.0   |   |              |   | 2,403.9 |   |
| Cash      and securities segregated, at fair value                 |   |                | 2,222.2   |   |              |   | 2,572.6 |   |
| Broker-dealer      related receivables                             |   |                | 844.1     |   |              |   | 1,020.4 |   |
| Deferred      policy acquisition costs                             |   |                | 8,002.1   |   |              |   | 7,482.0 |   |
| Goodwill      and other intangible assets, net                     |   |                | 3,698.0   |   |              |   | 3,702.4 |   |
| Amounts      due from reinsurers                                   |   |                | 2,966.3   |   |              |   | 2,897.2 |   |
| Loans      to affiliates                                           |   |                | 593.1     |   |              |   | 588.3 |   |
| Other      assets                                                  |   |                | 10,145.8  |   |              |   | 12,926.0 |   |
| Separate      Accounts’ assets                               |   |                | 63,617.6  |   |              |   | 67,627.0 |   |
|                                                               |   |                |      |   |              |   |   |   |
| Total      Assets                                                  |   | $                   | 131,730.3 |   |              | $      | 136,266.2 |   |
|                                                               |   |                |      |   |              |   |   |   |
| LIABILITIES                                                        |   |                |      |   |              |   |   |   |
| Policyholders’      account balances                         |   | $                   | 24,938.7  |   |              | $      | 24,742.5 |   |
| Future      policy benefits and other policyholders liabilities    |   |                | 17,785.1  |   |              |   | 17,733.1 |   |
| Broker-dealer      related payables                                |   |                | 976.8     |   |              |   | 485.5 |   |
| Customers      related payables                                    |   |                | 2,408.8   |   |              |   | 2,753.1 |   |
| Amounts      due to reinsurers                                     |   |                | 60.6      |   |              |   | 64.2 |   |
| Short-term      and long-term debt                                 |   |                | 562.0     |   |              |   | 484.6 |   |
| Loans      from affiliates                                         |   |                | 1,325.0   |   |              |   | 1,325.0 |   |
| Income      taxes payable                                          |   |                | 3,484.2   |   |              |   | 3,813.2 |   |
| Other      liabilities                                             |   |                | 2,786.0   |   |              |   | 2,842.5 |   |
| Noncontrolling      interest subject to redemption rights          |   |                | -         |   |              |   | 135.0 |   |
| Separate      Accounts’ liabilities                          |   |                | 63,617.6  |   |              |   | 67,627.0 |   |
| Total      liabilities                                             |   |                | 117,944.8 |   |              |   | 122,005.7 |   |
|                                                               |   |                |      |   |              |   |   |   |
| Commitments      and contingent liabilities (Note 11)              |   |                |      |   |              |   |   |   |
|                                                               |   |                |      |   |              |   |   |   |
| EQUITY                                                             |   |                |      |   |              |   |   |   |
| AXA      Equitable’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                                |   |                | 5,185.5   |   |              |   | 5,184.1 |   |
| Retained      earnings                                             |   |                | 8,102.3   |   |              |   | 8,412.6 |   |
| Accumulated      other comprehensive loss                          |   |                | (2,506.4  | )      |              |   | (2,235.6 | ) |
| Total      AXA Equitable’s equity                       |   |                | 10,783.9  |   |              |   | 11,363.6 |   |
| Noncontrolling      interest                                       |   |                | 3,001.6   |   |              |   | 2,896.9 |   |
| Total      equity                                                  |   |                | 13,785.5  |   |              |   | 14,260.5 |   |
|                                                               |   |                |      |   |              |   |   |   |
| Total      Liabilities and Equity                                  |   | $                   | 131,730.3 |   |              | $      | 136,266.2 |   |

----

|                                                                   |   | 2009               |    |   | 2008   |   |
|------------------------------------------------------------------------|--------|--------------------|---------|--------|--------|--------|
|                                                                   |   | (In      Millions) |    |
|                                                                   |   |               |    |
| REVENUES                                                               |   |               |    |   |   |   |
| Universal      life and investment-type product policy fee income      |   | $                  | 677.7   |   |   | $      | 718.7 |   |
| Premiums                                                               |   |               | 127.9   |   |   |   | 208.7 |   |
| Net      investment income                                             |   |               | 555.4   |   |   |   | 1,202.2 |   |
| Investment      gains (losses), net                                    |   |               | 138.5   |   |   |   | (13.0 | ) |
| Commissions,      fees and other income                                |   |               | 768.7   |   |   |   | 1,269.8 |   |
| (Decrease)      increase in fair value of reinsurance contracts        |   |               | (937.7  | )      |   |   | 406.2 |   |
| Total      revenues                                                    |   |               | 1,330.5 |   |   |   | 3,792.6 |   |
|                                                                   |   |               |    |   |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS                                     |   |               |    |   |   |   |   |   |
| Policyholders’      benefits                                     |   |               | 581.4   |   |   |   | 552.7 |   |
| Interest      credited to policyholders’ account balances        |   |               | 258.1   |   |   |   | 266.7 |   |
| Compensation      and benefits                                         |   |               | 462.4   |   |   |   | 566.6 |   |
| Commissions                                                            |   |               | 303.4   |   |   |   | 379.2 |   |
| Distribution      plan payments                                        |   |               | 42.4    |   |   |   | 79.2 |   |
| Amortization      of deferred sales commissions                        |   |               | 14.9    |   |   |   | 22.0 |   |
| Interest      expense                                                  |   |               | 27.0    |   |   |   | 17.9 |   |
| Amortization      of deferred policy acquisition costs                 |   |               | 34.6    |   |   |   | 815.4 |   |
| Capitalization      of deferred policy acquisition costs               |   |               | (295.5  | )      |   |   | (370.4 | ) |
| Rent      expense                                                      |   |               | 64.5    |   |   |   | 59.3 |   |
| Amortization      of other intangible assets                           |   |               | 5.9     |   |   |   | 5.9 |   |
| Other      operating costs and expenses                                |   |               | 330.2   |   |   |   | 329.9 |   |
| Total      benefits and other deductions                               |   |               | 1,829.3 |   |   |   | 2,724.4 |   |
|                                                                   |   |               |    |   |   |   |   |   |
| (Loss)      earnings from continuing operations before income taxes    |   |               | (498.8  | )      |   |   | 1,068.2 |   |
| Income      tax benefit (expense)                                      |   |               | 202.7   |   |   |   | (336.0 | ) |
|                                                                   |   |               |    |   |   |   |   |   |
| (Loss)      earnings from continuing operations, net of income taxes   |   |               | (296.1  | )      |   |   | 732.2 |   |
| (Loss)      earnings from discontinued operations, net of income taxes |   |               | (1.5    | )      |   |   | 1.0 |   |
| Gain      on disposal of discontinued operations, net of incometaxes   |   |               | -       |   |   |   | 6.3 |   |
|                                                                   |   |               |    |   |   |   |   |   |
| Net      (loss) earnings                                               |   |               | (297.6  | )      |   |   | 739.5 |   |
| Less:      net earnings attributable to the noncontrolling interest    |   |               | (12.7   | )      |   |   | (132.1 | ) |
|                                                                   |   |               |    |   |   |   |   |   |
| Net      (Loss) Earnings Attributable to AXA Equitable                 |   | $                  | (310.3  | )      |   | $      | 607.4 |   |

----

|                                                                                        |   | 2009               |     |   | 2008   |   |
|---------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|
|                                                                                        |   | (In      Millions) |     |
|                                                                                        |   |               |     |
| EQUITY                                                                                      |   |               |     |   |   |   |
| AXA      Equitable’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                                      |   |               | 5,184.1  |   |   |   | 5,265.4 |   |
| Changes      in capital in excess of par value                                              |   |               | 1.4      |   |   |   | 3.3 |   |
| Capital      in excess of par value, end of period                                          |   |               | 5,185.5  |   |   |   | 5,268.7 |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| Retained      earnings, beginning of year                                                   |   |               | 8,412.6  |   |   |   | 5,186.0 |   |
| Net      (loss) earnings attributable to AXA Equitable                                      |   |               | (310.3   | )      |   |   | 607.4 |   |
| Retained      earnings, end of period                                                       |   |               | 8,102.3  |   |   |   | 5,793.4 |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| Accumulated      other comprehensive loss, beginning of year                                |   |               | (2,235.6 | )      |   |   | (267.9 | ) |
| Other      comprehensive (loss) income                                                      |   |               | (270.8   | )      |   |   | (282.9 | ) |
| Accumulated      other comprehensive loss, end of period                                    |   |               | (2,506.4 | )      |   |   | (550.8 | ) |
|                                                                                        |   |               |     |   |   |   |   |   |
| Total      AXA Equitable's Equity, end of period                                       |   |               | 10,783.9 |   |   |   | 10,513.8 |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| Noncontrolling      interest, beginning of year                                             |   |               | 2,896.9  |   |   |   | 2,478.9 |   |
| Purchase      of AllianceBernstein Units by noncontrolling interest                         |   |               | -        |   |   |   | 21.6 |   |
| Exercise      of AllianceBernstein  Put                                           |   |               | 135.0    |   |   |   | - |   |
| Dividends      paid to noncontrolling interest                                              |   |               | (62.9    | )      |   |   | (169.8 | ) |
| Capital      contribution                                                                   |   |               | 5.4      |   |   |   | - |   |
| Net      earnings attributable to noncontrolling interest                                   |   |               | 12.7     |   |   |   | 132.1 |   |
| Other      comprehensive income attributable to noncontrolling    interest                  |   |               | 2.9      |   |   |   | 4.2 |   |
| Other      changes in noncontrolling interest                                               |   |               | 11.6     |   |   |   | 38.8 |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| Noncontrolling      interest, end of period                                                 |   |               | 3,001.6  |   |   |   | 2,505.8 |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| Total      Equity, End of Period                                                            |   | $                  | 13,785.5 |   |   | $      | 13,019.6 |   |
|                                                                                        |   |               |     |   |   |   |   |   |
|                                                                                        |   |               |     |   |   |   |   |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| COMPREHENSIVE      (LOSS) INCOME                                                            |   |               |     |   |   |   |   |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| Net      (loss) earnings                                                                    |   | $                  | (297.6   | )      |   | $      | 739.5 |   |
| Other      comprehensive loss, net of income taxes:                                         |   |               |     |   |   |   |   |   |
| Change      in unrealized losses, net of reclassification adjustments                       |   |               | (269.2   | )      |   |   | (289.0 | ) |
| Changes in defined      benefit plan related items, net of reclassification      adjustment |   |               | (1.6     | )      |   |   | 6.1 |   |
| Total      other comprehensive loss, net of income taxes                                    |   |               | (270.8   | )      |   |   | (282.9 | ) |
|                                                                                        |   |               |     |   |   |   |   |   |
| Comprehensive      (loss) income                                                            |   |               | (568.4   | )      |   |   | 456.6 |   |
| Comprehensive      income attributable to noncontrolling interest                           |   |               | 2.9      |   |   |   | 4.2 |   |
|                                                                                        |   |               |     |   |   |   |   |   |
| Comprehensive      (Loss) Income Attributable to AXA Equitable                              |   | $                  | (565.5   | )      |   | $      | 460.8 |   |

----

|                                                                                      |   | 2009               |     |   | 2008   |   |
|-------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|
|                                                                                      |   | (In      Millions) |     |
|                                                                                      |   |               |     |
| Net      (loss) earnings                                                                  |   | $                  | (297.6   | )      |   | $      | 739.5 |   |
| Adjustments      to reconcile net earnings to net cash (used in) providedby               |   |               |     |   |   |   |   |   |
| operating      activities:                                                                |   |               |     |   |   |   |   |   |
| Interest      credited to policyholders’ account balances                           |   |               | 258.1    |   |   |   | 266.7 |   |
| Universal      life and investment-type product policy fee income                         |   |               | (677.7   | )      |   |   | (718.7 | ) |
| Net      change in broker-dealer and customer related      receivables/payables           |   |               | (313.1   | )      |   |   | (599.0 | ) |
| Change      in net investment income related to derivatives                               |   |               | (271.2   | )      |   |   | (704.2 | ) |
| Change      in reinsurance recoverable with affiliate                                     |   |               | 1,485.7  |   |   |   | - |   |
| Investment      (gains) losses, net                                                       |   |               | (138.5   | )      |   |   | 13.0 |   |
| Change      in deferred policy acquisition costs                                          |   |               | (260.9   | )      |   |   | 445.0 |   |
| Change      in future policy benefits                                                     |   |               | 33.3     |   |   |   | 58.4 |   |
| Change      in income tax payable                                                         |   |               | (223.1   | )      |   |   | 252.7 |   |
| Change      in segregated cash and securities, net                                        |   |               | 350.4    |   |   |   | 428.6 |   |
| Change      in fair value of guaranteed minimum income benefit      reinsurance contracts |   |               | 937.7    |   |   |   | (406.2 | ) |
| Equity      loss (income) in other limited partnerships                                   |   |               | 140.7    |   |   |   | (6.3 | ) |
| Amortization      of reinsurance cost                                                     |   |               | 61.7     |   |   |   | - |   |
| Amortization      of deferred sales commissions                                           |   |               | 14.9     |   |   |   | 22.0 |   |
| Other      depreciation and amortization                                                  |   |               | 38.3     |   |   |   | 32.2 |   |
| Amortization      of other intangible assets, net                                         |   |               | 5.9      |   |   |   | 5.9 |   |
| Gains      on disposal of discontinued operations                                         |   |               | -        |   |   |   | (6.3 | ) |
| Other,      net                                                                           |   |               | 11.2     |   |   |   | .2 |   |
|                                                                                      |   |               |     |   |   |   |   |   |
| Net      cash provided by (used in) operating activities                                  |   |               | 1,155.8  |   |   |   | (176.5 | ) |
|                                                                                      |   |               |     |   |   |   |   |   |
| Cash      flows from investing activities:                                                |   |               |     |   |   |   |   |   |
| Maturities      and repayments of fixed maturities and mortgage loans                     |   |               | 390.4    |   |   |   | 339.7 |   |
| Sales      of investments                                                                 |   |               | 1,566.5  |   |   |   | 192.0 |   |
| Purchases      of investments                                                             |   |               | (1,033.0 | )      |   |   | (385.1 | ) |
| Cash      settlements related to derivative instruments                                   |   |               | (597.3   | )      |   |   | 569.2 |   |
| Change      in short-term investments                                                     |   |               | (174.8   | )      |   |   | 5.1 |   |
| Change      in capitalized software, leasehold improvements and      EDP equipment        |   |               | (61.8    | )      |   |   | (37.0 | ) |
| Other,      net                                                                           |   |               | (20.6    | )      |   |   | 27.3 |   |
|                                                                                      |   |               |     |   |   |   |   |   |
| Net      cash provided by investing activities                                            |   |               | 69.4     |   |   |   | 711.2 |   |
|                                                                                      |   |               |     |   |   |   |   |   |

----

|                                                     | 2009               |    | 2008   |   |
|----------------------------------------------------------|--------------------|---------|--------|--------|
|                                                     | (In      Millions) |    |
|                                                     |               |    |
| Cash      flows from financing activities:               |               |    |   |   |
| Policyholders’      account balances:              |               |    |   |   |
| Deposits                                                 | $                  | 1,204.3 |   | $      | 1,097.6 |   |
| Withdrawals      and transfers to Separate Accounts      |               | (619.5  | )      |   | (622.3 | ) |
| Net      change in short-term financings                 |               | 81.0    |   |   | 139.5 |   |
| Other,      net                                          |               | (43.9   | )      |   | (110.0 | ) |
|                                                     |               |    |   |   |   |   |
| Net      cash provided by (used in) financing activities |               | 621.9   |   |   | 504.8 |   |
|                                                     |               |    |   |   |   |   |
| Change      in cash and cash equivalents                 |               | 1,847.1 |   |   | 1,039.5 |   |
| Cash      and cash equivalents, beginning of year        |               | 2,403.9 |   |   | 1,173.2 |   |
|                                                     |               |    |   |   |   |   |
| Cash      and Cash Equivalents, End of Period            | $                  | 4,251.0 |   | $      | 2,212.7 |   |
|                                                     |               |    |   |   |   |   |
| Supplemental      cash flow information                  |               |    |   |   |   |   |
| Interest      Paid                                       | $                  | .5      |   | $      | 9.4 |   |
| Income      Taxes Paid                                   | $                  | 19.6    |   | $      | 63.8 |   |

----

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

| 2)   | ACCOUNTING      CHANGES AND NEW ACCOUNTINGPRONOUNCEMENTS |
|----------------|----------------------------------------------------------|

----

| ·   | Recharacterize      minority interests, previously classified within liabilities, as      noncontrolling interests reported as a component of consolidated equity on      the balance sheet, |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Include      total income in net income, with separate disclosure on the face of the      consolidated income statement of the attribution of income between      controlling and noncontrolling interests,and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Account      for increases and decreases in noncontrolling interests as equity      transactions with any difference between proceeds of a purchase or      issuance of noncontrolling interests being accounted for as a change to      the controlling entity’s equity instead of as current period gains/losses      in the consolidated income statement.  Only when the controlling      entity changes control and deconsolidates a subsidiary will a gain or      loss be recognized. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

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

----

|                              |     |   |                        |   | Gains      (Losses) |   |
|-----------------------------------|----------|--------|-----------------------------|--------|---------------------|--------|
|                              |     |   |                        |   | On      Derivative  |   |
|                              |     |   | Fair      Value of          |   | Instruments         |   |
|                              |     |   | Derivative      Instruments |   | Net                 |   |
| Derivative      Category          | Notional |   | Asset                       |   | Liability           |   | Investment |   |
|                              | Amount   |   | Derivatives                 |   | Derivatives         |   | Income |   |
| Equity      contracts (1):   |     |   |                        |   |                |   |   |   |   |   |   |   |
|  Futures                     |     | $      | 4,996.0                     |   |                | $      | - |   |   | $ | - |   |   | $ | 471.0 |   |
|  Swaps                       |     |   | 340.4                       |   |                |   | - |   |   |   | (29.5  | )  |   |   | (29.5 | )  |
|  Options                     |     |   | 8,050.0                     |   |                |   | 1,072.4 |   |   |   | (718.8  | ) |   |   | (48.7 | ) |
|                              |     |   |                        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Interest      rate contracts (1): |     |   |                        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Floors                            |     |   | 21,000.0                    |   |                |   | 433.1 |   |   |   | - |   |   |   | (81.9 | ) |
| Swaps                             |     |   | 1,100.0                     |   |                |   | 219.4 |   |   |   | - |   |   |   | (36.4 | ) |
| Futures                           |     |   | 9,532.0                     |   |                |   | - |   |   |   | - |   |   |   | (52.1 | ) |
| Other      contracts (2):         |     |   | -                           |   |                |   | - |   |   |   | - |   |   |   | - |   |
|                              |     |   |                        |   |                |   |   |   |   |   |   |   |   |   |   |   |
|                              |     | $      | 45,018.4                    |   |                | $      | 1,724.9 |   |   | $ | (748.3 | )  |   | $ | 222.4 |   |

----

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

----

|                                                                         |   | March      31,     |    |   | December      31, |   |
|------------------------------------------------------------------------------|--------|--------------------|---------|--------|-------------------|--------|
|                                                                         |   | 2009               |    |   | 2008              |   |
|                                                                         |   | (In      Millions) |    |
| CLOSED      BLOCK LIABILITIES:                                               |   |               |    |   |              |   |
| Future      policy benefits, policyholders’ account balances and other |   | $                  | 8,504.2 |   |              | $      | 8,544.8 |   |
| Other      liabilities                                                       |   |               | 184.8   |   |              |   | 71.3 |   |
| Total      Closed Block liabilities                                          |   |               | 8,689.0 |   |              |   | 8,616.1 |   |
|                                                                         |   |               |    |   |              |   |   |   |
| ASSETS      DESIGNATED TO THE CLOSED BLOCK:                                  |   |               |    |   |              |   |   |   |
| Fixed      maturities, available for sale, at fair value                     |   |               |    |   |              |   |   |   |
| (amortized      cost of $5,632.4 and $5,517.6)                               |   |               | 5,145.3 |   |              |   | 5,041.5 |   |
| Mortgage      loans on real estate                                           |   |               | 1,088.5 |   |              |   | 1,107.1 |   |
| Policy      loans                                                            |   |               | 1,177.3 |   |              |   | 1,180.3 |   |
| Cash      and other invested assets                                          |   |               | 109.6   |   |              |   | 104.2 |   |
| Other      assets                                                            |   |               | 462.5   |   |              |   | 472.4 |   |
| Total      assets designated to the Closed Block                             |   |               | 7,983.2 |   |              |   | 7,905.5 |   |
|                                                                         |   |               |    |   |              |   |   |   |
| Excess      of Closed Block liabilities over assets designated to            |   |               |    |   |              |   |   |   |
| the      Closed Block                                                        |   |               | 705.8   |   |              |   | 710.6 |   |
|                                                                         |   |               |    |   |              |   |   |   |
| Amounts      included in accumulated other comprehensive income:             |   |               |    |   |              |   |   |   |
| Net      unrealized investment losses, net of deferred income tax            |   |               |    |   |              |   |   |   |
| benefit      of $170.3 and $166.4 and policyholder                           |   |               |    |   |              |   |   |   |
| dividend      obligation of $0 and $(3.1)                                    |   |               | (316.2  | )      |              |   | (309.2 | ) |
|                                                                         |   |               |    |   |              |   |   |   |
| Maximum      Future Earnings To Be Recognized From Closed Block              |   |               |    |   |              |   |   |   |
| Assets      and Liabilities                                                  |   | $                  | 389.6   |   |              | $      | 401.4 |   |

|                                                              |   | Three      Months Ended |   |
|-------------------------------------------------------------------|--------|-------------------------|--------|
|                                                              |   | March      31,          |   |
|                                                              |   | 2009                    |   |   | 2008 |   |
|                                                              |   | (In      Millions)      |   |
|                                                              |   |                    |   |
| REVENUES:                                                         |   |                    |   |   |   |   |
| Premiums      and other income                                    |   | $                       | 99.9   |   |   | $ | 101.9 |   |
| Investment      income (net of investment expenses of $0 and $.5) |   |                    | 120.2  |   |   |   | 125.9 |   |
| Investment      gains (losses), net                               |   |                    | 7.5    |   |   |   | (.7 | ) |
| Total      revenues                                               |   |                    | 227.6  |   |   |   | 227.1 |   |
|                                                              |   |                    |   |   |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS:                               |   |                    |   |   |   |   |   |   |
| Policyholders’      benefits and dividends                  |   |                    | 208.9  |   |   |   | 209.0 |   |
| Other      operating costs and expenses                           |   |                    | .6     |   |   |   | .8 |   |
| Total      benefits and other deductions                          |   |                    | 209.5  |   |   |   | 209.8 |   |
|                                                              |   |                    |   |   |   |   |   |   |
| Net      revenues before income taxes                             |   |                    | 18.1   |   |   |   | 17.3 |   |
| Income      taxes                                                 |   |                    | (6.3   | ) |   |   | (6.1 | ) |
| Net      Revenues                                                 |   | $                       | 11.8   |   |   | $ | 11.2 |   |

----

|                              | Three      Months Ended |   |
|-----------------------------------|-------------------------|--------|
|                              | March      31,          |   |
|                              | 2009                    |   | 2008 |   |
|                              | (In      Millions)      |   |
|                              |                    |   |   |   |   |   |
| Balance      at beginning of year |                    | $      | - |   |   | $ | - |   |
| Applicable      to net revenues   |                    |   | - |   |   |   | 3.1 |   |
| Unrealized      investment losses |                    |   | - |   |   |   | (3.1 | ) |
| Balance      at End of Period     |                    | $      | - |   |   | $ | - |   |

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

|                                                                          |   | Three      Months Ended |   |
|-------------------------------------------------------------------------------|--------|-------------------------|--------|
|                                                                          |   | March      31,          |   |
|                                                                          |   | 2009                    |   | 2008 |   |
|                                                                          |   | (In      Millions)      |   |
| (Losses)      Earnings from Discontinued Operations,Net      of Income Taxes: |   |                    |   |
| Wind-up      Annuities                                                        |   | $                       | (1.5   | ) |   | $ | - |   |
| Real      estate held-for-sale                                                |   |                    | -      |   |   |   | 1.0 |   |
| Total                                                                         |   | $                       | (1.5   | ) |   | $ | 1.0 |   |
|                                                                          |   |                    |   |   |   |   |   |   |
| Gain      on Disposal of Discontinued Operations,Net      of Income Taxes:    |   |                    |   |   |   |   |   |   |
| Real      estate held-for-sale                                                |   | $                       | -      |   |   | $ | 6.3 |   |
| Total                                                                         |   | $                       | -      |   |   | $ | 6.3 |   |

|                                                                                                |   | March      31,     |   |   | December      31, |   |
|-----------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|-------------------|--------|
|                                                                                                |   | 2009               |   |   | 2008              |   |
|                                                                                                |   | (In      Millions) |   |
| BALANCE      SHEETS                                                                                 |   |               |   |   |              |   |
| Fixed      maturities, available for sale, at fair value (amortized      cost of $661.4 and $661.8) |   | $                  | 597.1  |   |              | $      | 602.1 |   |
| Equity      real estate                                                                             |   |               | 158.4  |   |              |   | 162.2 |   |
| Other      invested assets                                                                          |   |               | 2.5    |   |              |   | 2.5 |   |
| Total      investments                                                                              |   |               | 758.0  |   |              |   | 766.8 |   |
| Cash      and cash equivalents                                                                      |   |               | 116.4  |   |              |   | - |   |
| Other      assets                                                                                   |   |               | 75.8   |   |              |   | 77.1 |   |
| Total      Assets                                                                                   |   | $                  | 950.2  |   |              | $      | 843.9 |   |
|                                                                                                |   |               |   |   |              |   |   |   |
| Policyholders      liabilities                                                                      |   | $                  | 715.1  |   |              | $      | 723.4 |   |
| Other      liabilities                                                                              |   |               | 235.1  |   |              |   | 120.5 |   |
| Total      Liabilities                                                                              |   | $                  | 950.2  |   |              | $      | 843.9 |   |

----

|                                                                 |   | Three      Months Ended |   |
|----------------------------------------------------------------------|--------|-------------------------|--------|
|                                                                 |   | March      31,          |   |
|                                                                 |   | 2009                    |   |   | 2008 |   |
|                                                                 |   | (In      Millions)      |   |
| STATEMENTS      OF EARNINGS                                          |   |                    |   |   |   |   |
| Investment      income (net of investment expenses of $5.1 and $4.6) |   | $                       | 15.6   |   |   | $ | 15.9 |   |
| Investment      gains, net                                           |   |                    | -      |   |   |   | .8 |   |
| Other      income                                                    |   |                    | .1     |   |   |   | - |   |
| Total      revenues                                                  |   |                    | 15.7   |   |   |   | 16.7 |   |
|                                                                 |   |                    |   |   |   |   |   |   |
| Benefits      and other deductions                                   |   |                    | 18.0   |   |   |   | 19.3 |   |
| Losses      charged to allowance for future losses                   |   |                    | -      |   |   |   | (2.6 | ) |
| Pre-tax      loss from operations                                    |   |                    | (2.3   | ) |   |   | - |   |
| Income      tax benefit                                              |   |                    | .8     |   |   |   | - |   |
| Loss      from Wind-up Annuities                                     |   | $                       | (1.5   | ) |   | $ | - |   |

| 6)   | GMDB,      GMIB, GWBL AND NO LAPSE GUARANTEEFEATURES |
|----------------|------------------------------------------------------|

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

| ·   | 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; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| ·   | Withdrawal:      the withdrawal is guaranteed up to a maximum amount per year for      life. |
|--------------------|----------------------------------------------------------------------------------------------|

----

|                            |   | GMDB               |    |   | GMIB   |   |    | Total  |   |
|---------------------------------|--------|--------------------|---------|--------|--------|--------|---------|--------|--------|
|                            |   | (In      Millions) |    |
|                            |   |               |    |
| Balance      at January 1, 2009 |   | $                  | 980.9   |   |   | $      | 1,979.9 |   |   | $ | 2,960.8 |   |
| Paid      guarantee benefits    |   |               | (80.9   | )      |   |   | (20.2   | )      |   |   | (101.1 | ) |
| Other      changes in reserve   |   |               | 214.0   |   |   |   | 1.5     |   |   |   | 215.5 |   |
| Balance      at March 31, 2009  |   | $                  | 1,114.0 |   |   | $      | 1,961.2 |   |   | $ | 3,075.2 |   |
|                            |   |               |    |   |   |   |    |   |   |   |   |   |
| Balance      at January 1, 2008 |   | $                  | 253.1   |   |   | $      | 309.9   |   |   | $ | 563.0 |   |
| Paid      guarantee benefits    |   |               | (17.6   | )      |   |   | (.6     | )      |   |   | (18.2 | ) |
| Other      changes in reserve   |   |               | 55.6    |   |   |   | 42.6    |   |   |   | 98.2 |   |
| Balance      at March 31, 2008  |   | $                  | 291.1   |   |   | $      | 351.9   |   |   | $ | 643.0 |   |

|                                | Three      Months Ended |   |
|-------------------------------------|-------------------------|--------|
|                                | March      31,          |   |
|                                | 2009                    |   | 2008 |   |
|                                | (In      Millions)      |   |
|                                |                    |   |   |   |   |   |
| Balance      at beginning of period |                    | $      | 327.3 |   |   | $ | 27.5 |   |
| Paid      guarantee benefits        |                    |   | (5.1 | ) |   |   | (3.1 | ) |
| Other      changes in reserve       |                    |   | 57.6 |   |   |   | 6.7 |   |
| Balance      at End of Period       |                    | $      | 379.8 |   |   | $ | 31.1 |   |

----

|                                                           |   | Return                     |   |   |    |   |   |    |   |   |   |   |   |   |   |
|----------------------------------------------------------------|--------|----------------------------|--------|--------|---------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|
|                                                           |   | Of                         |   |   |    |   |   |    |   |   |   |   |   |   |   |
|                                                           |   | Premium                    |   |   | Ratchet |   |   | Roll-Up |   |   | Combo  |   |   | Total  |   |
|                                                           |   | (Dollars      In Millions) |
| GMDB:                                                          |   |                       |   |   |    |   |   |    |   |   |   |   |   |   |   |
| Account      values invested in:                               |   |                       |   |   |    |   |   |    |   |   |   |   |   |   |   |
| General      Account                                           |   | $                          | 11,112 |   |    | $      | 327    |    |   | $      | 322    |   |   | $      | 960    |   |   | $ | 12,721 |   |
| Separate      Accounts                                         |   | $                          | 18,175 |   |    | $      | 5,283  |    |   | $      | 3,890  |   |   | $      | 23,705 |   |   | $ | 51,053 |   |
| Net      amount at risk, gross                                 |   | $                          | 7,503  |   |    | $      | 3,294  |    |   | $      | 3,955  |   |   | $      | 15,528 |   |   | $ | 30,280 |   |
| Net      amount at risk, net of amounts reinsured              |   | $                          | 7,503  |   |    | $      | 2,060  |    |   | $      | 2,679  |   |   | $      | 6,686  |   |   | $ | 18,928 |   |
| Average      attained age of contractholders                   |   |                       | 49.5   |   |    |   | 62.0   |    |   |   | 66.1   |   |   |   | 62.0   |   |   |   | 53.2 |   |
| Percentage      of contractholders  over age 70      |   |                       | 7.4    | %      |    |   | 24.1   | %       |   |   | 40.1   | %      |   |   | 22.2   | % |   |   | 12.6 | % |
| Range      of contractually specified interest      rates      |   |                       | N/A    |   |    |   | N/A    |    |   |   | 3%-6   | %      |   |   | 3%-6.5 | % |   |   |   |   |
|                                                           |   |                       |   |   |    |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |
| GMIB:                                                          |   |                       |   |   |    |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |
| Account      values invested in:                               |   |                       |   |   |    |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |
| General      Account                                           |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 38     |   |   | $      | 878    |   |   | $ | 916 |   |
| Separate      Accounts                                         |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 2,291  |   |   | $      | 30,425 |   |   | $ | 32,716 |   |
| Net      amount at risk, gross                                 |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 1,567  |   |   | $      | 3,466  |   |   | $ | 5,033 |   |
| Net      amount at risk, net of amounts reinsured              |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 457    |   |   | $      | 1,420  |   |   | $ | 1,877 |   |
| Weighted      average years remaining until      annuitization |   |                       | N/A    |   |    |   | N/A    |    |   |   | 1.4    |   |   |   | 7.4    |   |   |   | 6.9 |   |
| Range      of contractually specified interest      rates      |   |                       | N/A    |   |    |   | N/A    |    |   |   | 3%-6   | %      |   |   | 3%-6.5 | % |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | March      31,     |   | December      31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|-------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2009               |   | 2008              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |   |
| GMDB:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               |   |              |   |   |
| Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                  | 28,757 |              |   | $ | 30,428 |   |
| Fixed      income                                                                                      |   |               | 3,681  |              |   |   | 3,745 |   |
| Balanced                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 16,287 |              |   |   | 17,469 |   |
| Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 2,328  |              |   |   | 2,410 |   |
| Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                  | 51,053 |              |   | $ | 54,052 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |   |              |   |   |   |   |
| GMIB:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               |   |              |   |   |   |   |
| Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                  | 17,894 |              |   | $ | 19,138 |   |
| Fixed      income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               | 2,112  |              |   |   | 2,219 |   |
| Balanced                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 11,626 |              |   |   | 12,887 |   |
| Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 1,084  |              |   |   | 1,272 |   |
| Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                  | 32,716 |              |   | $ | 35,516 |   |

|                            |   | Direct             |   |   | Reinsurance |   |   |   |   |
|---------------------------------|--------|--------------------|--------|--------|-------------|--------|--------|--------|--------|
|                            |   | Liability          |   |   | Ceded       |   |   | Net    |   |
|                            |   | (In      Millions) |   |
|                            |   |               |   |   |        |   |   |   |   |
| Balance      at January 1, 2009 |   | $                  | 203.0  |   |        | $      | (152.6 | )      |   | $ | 50.4 |   |
| Other      changes in reserves  |   |               | 2.0    |   |        |   | 8.4    |   |   |   | 10.4 |   |
| Balance      at March 31, 2009  |   | $                  | 205.0  |   |        | $      | (144.2 | )      |   | $ | 60.8 |   |
|                            |   |               |   |   |        |   |   |   |   |   |   |   |
| Balance      at January 1, 2008 |   | $                  | 135.0  |   |        | $      | (107.6 | )      |   | $ | 27.4 |   |
| Other      changes in reserves  |   |               | 24.0   |   |        |   | (21.3  | )      |   |   | 2.7 |   |
| Balance      at March 31, 2008  |   | $                  | 159.0  |   |        | $      | (128.9 | )      |   | $ | 30.1 |   |

----

| 7)   | FAIR      VALUE DISCLOSURES |
|----------------|-----------------------------|

| Level      1 | Quoted      prices for identical instruments in active markets.  Level 1      fair values generally are supported by market transactions that occur with      sufficient frequency and volume to provide pricing information on an      ongoing basis.                                                                        |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Level      2 | Observable      inputs other than Level 1 prices, such as quoted prices for similar      instruments, quoted prices in markets that are not active, and inputs to      model-derived valuations that are directly observable or can be      corroborated by observable market data.                                                     |
| Level      3 | Unobservable      inputs supported by little or no market activity and often requiring      significant management judgment or estimation, such as an entity’s own      assumptions about the cash flows or other significant components of value      that market participants would use in pricing the asset or      liability. |

|                                     |   | Level      1       |     |   | Level      2 |    |     | Level      3 |   |    | Total   |   |
|------------------------------------------|--------|--------------------|----------|--------|--------------|---------|----------|--------------|--------|---------|---------|--------|
|                                     |   | (In      Millions) |     |
| Assets                                   |   |               |     |   |         |    |     |         |   |    |    |   |
| Investments:                             |   |               |     |   |         |    |     |         |   |    |    |   |
| Fixed      maturities available for sale |   | $                  | 123.9    |   |         | $       | 21,021.7 |         |   | $       | 2,238.4 |   |   | $ | 23,384.0 |   |
| Other      equity investments            |   |               | 59.4     |   |         |    | -        |         |   |    | 2.0     |   |   |   | 61.4 |   |
| Trading      securities                  |   |               | 383.7    |   |         |    | -        |         |   |    | -       |   |   |   | 383.7 |   |
| Other      invested assets               |   |               | 353.6    |   |         |    | 516.5    |         |   |    | 433.1   |   |   |   | 1,303.2 |   |
| Loans      to affiliates                 |   |               | -        |   |         |    | 593.1    |         |   |    | -       |   |   |   | 593.1 |   |
| Cash      equivalents                    |   |               | 3,750.0  |   |         |    | -        |         |   |    | -       |   |   |   | 3,750.0 |   |
| Segregated      securities               |   |               | 2,222.2  |   |         |    | -        |         |   |    | -       |   |   |   | 2,222.2 |   |
| GMIB      reinsurance contracts          |   |               | -        |   |         |    | -        |         |   |    | 3,884.0 |   |   |   | 3,884.0 |   |
| Separate      Accounts’ assets     |   |               | 61,843.1 |   |         |    | 1,474.5  |         |   |    | 300.0   |   |   |   | 63,617.6 |   |
| Total      Assets                        |   | $                  | 68,735.9 |   |         | $       | 23,605.8 |         |   | $       | 6,857.5 |   |   | $ | 99,199.2 |   |
|                                     |   |               |     |   |         |    |     |         |   |    |    |   |   |   |   |   |
| Liabilities                              |   |               |     |   |         |    |     |         |   |    |    |   |   |   |   |   |
| GWBL      features’ liability      |   | $             | -        |   |         | $  | -        |         |   | $  | 260.1   |   |   | $  | 260.1 |   |
| Total      Liabilities                   |   | $                  | -        |   |         | $       | -        |         |   | $       | 260.1   |   |   | $ | 260.1 |   |

----

----

|   | The      table below presents a reconciliation for all Level 3 assets for first      quarter 2009: |
|--------|----------------------------------------------------------------------------------------------------|

|                                                                             |   | Fixed         |    |   | Other       |   |   |     |   |   |        |   |   |     |    |   |      |   |
|----------------------------------------------------------------------------------|--------|---------------|---------|--------|-------------|--------|--------|----------|--------|--------|-------------|--------|--------|----------|---------|--------|-----------|--------|
|                                                                             |   | Maturities    |    |   | Equity      |   |   | Other    |   |   | GMIB        |   |   | Separate |    |   | GWBL      |   |
|                                                                             |   | Available     |    |   | Investments |   |   | Invested |   |   | Reinsurance |   |   | Accounts |    |   | Features  |   |
|                                                                             |   | For      Sale |    |   |  (1)   |   |   | Assets   |   |   | Asset       |   |   | Assets   |    |   | Liability |   |
|                                                                             |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |
|                                                                             |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |
| Balance,      Jan. 1, 2009                                                       |   | $             | 2,424.4 |   |        | $      | 2.1    |     |   | $      | 547.0       |   |   | $        | 4,821.7 |   |      | $      | 334.3 |   |   | $ | 272.6 |   |
| Total      gains (losses),                                                       |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| realized      and unrealized,                                                    |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| included      in:                                                                |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| Earnings      as:                                                                |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| Net      investment income                                                       |   |          | 0.8     |   |        |   | -      |     |   |   | (136.7      | )      |   |     | -       |   |      |   | - |   |   |   | - |   |
| Investment      gains                                                            |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| (losses),      net                                                               |   |          | (4.6    | )      |        |   | -      |     |   |   | -           |   |   |     | -       |   |      |   | (32.2 | ) |   |   | - |   |
| Change      in fair value of                                                     |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
|          reinsurance      contracts |   |          | -       |   |        |   | -      |     |   |   | -           |   |   |     | (982.6  | )      |      |   | - |   |   |   | - |   |
| Policyholders’      benefits                                               |   |          | -       |   |        |   | -      |     |   |   | -           |   |   |     | -       |   |      |   | - |   |   |   | (14.4 | ) |
| Subtotal                                                                         |   |          | (3.8    | )      |        |   | -      |     |   |   | (136.7      | )      |   |     | (982.6  | )      |      |   | (32.2 | ) |   |   | (14.4 | ) |
| Other      comprehensive                                                         |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| Income                                                                           |   |          | (125.7  | )      |        |   | .1     |     |   |   | -           |   |   |     | -       |   |      |   | - |   |   |   | - |   |
| Purchases/issuances      and                                                     |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| sales/settlements,      net                                                      |   |          | 15.8    |   |        |   | (.1    | )        |   |   | 22.8        |   |   |     | 44.9    |   |      |   | (3.0 | ) |   |   | 1.9 |   |
| Transfers into/out      of                                                       |   |          |    |   |        |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| Level      3(2)                                                                  |   |          | (72.3   | )      |        |   | (.1    | )        |   |   | -           |   |   |     | -       |   |      |   | .9 |   |   |   | - |   |
| Balance,      March 31, 2009                                                     |   | $             | 2,238.4 |   |        | $      | 2.0    |     |   | $      | 433.1       |   |   | $        | 3,884.0 |   |      | $      | 300.0 |   |   | $ | 260.1 |   |

| (1)   | Includes      Trading securities’ Level 3 amount. |
|-----------------|---------------------------------------------------------|

| (2)   | Transfers      into/out of Level 3 classification are reflected at beginning-of-period      fair values. |
|-----------------|----------------------------------------------------------------------------------------------------------|

|                                           |   | Three      Months Ended March 31, 2009 |   |
|------------------------------------------------|--------|----------------------------------------|--------|
|                                           |   | Earnings                               |   |   |   |   |   |   |   |
|                                           |   |                                   |   |   | Investment |   |   | Change      in |   |   | Other |   |   |   |   |
|                                           |   | Net                                    |   |   | Gains |   |   | Fair      Value of |   |   | Compre- |   |   | Policy- |   |
|                                           |   | Investment                             |   |   | (Losses), |   |   | Reinsurance |   |   | hensive |   |   | holder |   |
|                                           |   | Income                                 |   |   | Net |   |   | Contracts |   |   | Income |   |   | Benefits |   |
|                                           |   | (In      Millions)                     |   |
| Level      3 Instruments                       |   |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Still      Held at March 31, 2009:             |   |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Change      in unrealized gains or      losses |   |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      maturities available      for sale  |   | $                                      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | (125.7 | ) |   | $ | - |   |
| Other      equity investments                  |   |                                   | -      |   |   |   | - |   |   |   | - |   |   |   | .1 |   |   |   | - |   |
| Other      invested assets                     |   |                                   | (113.9 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash      equivalents                          |   |                                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Segregated      securities                     |   |                                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| GMIB      reinsurance contracts                |   |                                   | -      |   |   |   | - |   |   |   | (937.7 | ) |   |   | - |   |   |   | - |   |
| Separate      Accounts’ assets           |   |                                   | -      |   |   |   | (32.2 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| GWBL      features’ liability            |   |                                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (14.4 | ) |
| Total                                          |   | $                                      | (113.9 | ) |   | $ | (32.2 | ) |   | $ | (937.7 | ) |   | $ | (125.6 | ) |   | $ | (14.4 | ) |

----

| 8)   | EMPLOYEE      BENEFIT PLANS |
|----------------|-----------------------------|

|                                               | Three      Months Ended |       |
|----------------------------------------------------|-------------------------|------------|
|                                               | March      31,          |       |
|                                               |                    |  2009 |  |   | 2008 |   |
|                                               | (In      Millions)      |       |
|                                               |                    |       |
|                                               |                    |       |   |   |   |
| Service      cost                                  | $                       | 10.3       |   |   | $ | 10.1 |   |
| Interest      cost on projected benefit obligation |                    | 33.9       |   |   |   | 33.4 |   |
| Expected      return on assets                     |                    | (32.1      | ) |   |   | (48.8 | ) |
| Net      amortization and deferrals                |                    | 23.3       |   |   |   | 9.3 |   |
| Net      Periodic Pension Expense                  | $                       | 35.4       |   |   | $ | 4.0 |   |

| 9)   | SHARE-BASED      COMPENSATION PROGRAMS |
|----------------|----------------------------------------|

----

| 10)   | INCOME      TAXES |
|-----------------|-------------------|

| 11)   | LITIGATION |
|-----------------|------------|

----

| 12)   | BUSINESS      SEGMENT INFORMATION |
|-----------------|-----------------------------------|

|                                                                                |   | Three      Months Ended |    |
|-------------------------------------------------------------------------------------|--------|-------------------------|---------|
|                                                                                |   | March      31,          |    |
|                                                                                |   | 2009                    |    |   | 2008 |   |
|                                                                                |   | (In      Millions)      |    |
|                                                                                |   |                    |    |   |   |   |
| Segment      revenues:                                                              |   |                    |    |   |   |   |
| Insurance                                                                           |   | $                       | 732.6   |   |   | $ | 2,778.6 |   |
| Investment      Management (1)                                                      |   |                    | 604.0   |   |   |   | 1,035.4 |   |
| Consolidation/elimination                                                           |   |                    | (6.1    | ) |   |   | (21.4 | ) |
| Total      Revenues                                                                 |   | $                       | 1,330.5 |   |   | $ | 3,792.6 |   |
|                                                                                |   |                    |    |   |   |   |   |   |
| (1)      Net of interest expense incurred on securities borrowed                    |   |                    |    |   |   |   |   |   |
|                                                                                |   |                    |    |   |   |   |   |   |
| Segment      (losses) earnings from continuing operations before income      taxes: |   |                    |    |   |   |   |   |   |
| Insurance                                                                           |   | $                       | (528.3  | ) |   | $ | 797.5 |   |
| Investment      Management                                                          |   |                    | 29.5    |   |   |   | 271.2 |   |
| Consolidation/elimination                                                           |   |                    | -       |   |   |   | (.5 | ) |
|                                                                                |   |                    |    |   |   |   |   |   |
| Total      (Losses) Earnings from Continuing Operations before Income      Taxes    |   | $                       | (498.8  | ) |   | $ | 1,068.2 |   |

|                       | March      31,     |   |      |   | December      31, |
|----------------------------|--------------------|--------|-----------|--------|-------------------|
|                       | 2009               |   |      |   | 2008              |
|                       | (In      Millions) |
| Segment      assets:       |               |   |      |   |              |   |
| Insurance                  |               | $      | 120,137.3 |   |              | $ | 123,757.2 |   |
| Investment      Management |               |   | 11,608.1  |   |              |   | 12,520.2 |   |
| Consolidation/elimination  |               |   | (15.1     | )      |              |   | (11.2 | ) |
| Total      Assets          |               | $      | 131,730.3 |   |              | $ | 136,266.2 |   |

| 13)   | RELATED      PARTY TRANSACTIONS |
|-----------------|---------------------------------|

----

----

----

----

----

|                                   | March      31, |   |
|----------------------------------------|----------------|--------|
|                                   | 2009           |   | 2008 |   |
|                                   |           |   |
| Third      party                       |           | $      | 361,137 |   |   | $ | 672,878 |   |
| General      Account and other         |           |   | 52,590 |   |   |   | 51,802 |   |
| Insurance      Group Separate Accounts |           |   | 63,652 |   |   |   | 89,694 |   |
| Total      Assets Under Management     |           | $      | 477,379 |   |   | $ | 814,374 |   |

----

----

----

| Item      2. | Unregistered      Sales of Equity Securities and Use of Proceeds |
|--------------|------------------------------------------------------------------|
|         |                                                             |
|         | Omitted      pursuant to General Instruction H to Form 10-Q.     |
|         |                                                             |
| Item      3. | Defaults      Upon Senior Securities                             |
|         |                                                             |
|         | Omitted      pursuant to General Instruction H to Form 10-Q.     |
|         |                                                             |
| Item      4. | Submission      of Matters to a Vote of Security Holders         |
|         |                                                             |
|         | Omitted      pursuant to General Instruction H to Form 10-Q.     |
|         |                                                             |
| 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 of2002        |

----

| Date:  | May      11, 2009 |   | AXA      EQUITABLE LIFE INSURANCE COMPANY |
|--------|-------------------|--------|-------------------------------------------|
|   |              |   |                                      |

|   |              |   | By     | /s/      Richard S. Dziadzio |
|--------|-------------------|--------|--------|------------------------------|
|   |              |   |   | Name:                        | Richard      S. Dziadzio |
|   |              |   |   | Title:                       | Executive      Vice President and |
|   |              |   |   |                         | Chief      Financial Officer |
|   |              |   |   |                         |
| Date:  | May      11, 2009 |   |   | /s/      Alvin H. Fenichel   |
|   |              |   |   | Name:                        | Alvin      H. Fenichel |
|   |              |   |   | Title:                       | Senior      Vice President and |
|   |              |   |   |                         | Chief      Accounting Officer |