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

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

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

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

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

|   | 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, June 30, 2009 and December 31, 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 4      |
|       | ·   Consolidated Statements of Earnings, Three Months and Six Months Ended                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|       | June 30, 2009 and 2008                                                                                                                                             | 5      |
|       | ·   Consolidated Statements of Equity, Six Months Ended                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|       | June 30, 2009 and 2008                                                                                                                                             | 7      |
|       | ·   Consolidated Statements of Cash Flows, Six Months Ended                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
|       | June 30, 2009 and 2008                                                                                                                                             | 8      |
|       | ·   Notes to Consolidated Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 10     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 2:    | Management’s Discussion and Analysis of Financial Condition and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|       | Results of Operations (“Management Narrative”)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 46     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 3:    | Quantitative and Qualitative Disclosures About Market Risk*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 54     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 4(T): | Controls and Procedures                                                                                                                   | 54     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| PART II    | OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 1:    | Legal Proceedings                                                                                                                         | 55     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 1A:   | Risk Factors                                                                                                                              | 55     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 2:    | Unregistered Sales of Equity Securities and Use of Proceeds *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 55     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 3:    | Defaults Upon Senior Securities *                                                                                                         | 55     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 4:    | Submission of Matters to a Vote of Security Holders *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 55     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 5:    | Other Information                                                                                                                         | 55     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item 6:    | Exhibits                                                                                                                                  | 56     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| SIGNATURES |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 57     |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |

----

----

|                                                                                                                                                                                      |   | June 30,          |      |   | December 31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|--------------|--------|
|                                                                                                                                                                                      |   |    2009 |      |   | 2008         |   |
|                                                                                                                                                                                      |   | (In Millions)     |      |
| ASSETS                                                                                                                                                                                    |   |              |      |   |         |   |
| Investments:                                                                                                                                                                              |   |              |      |   |         |   |
| Fixed maturities available for sale, at fair value                                                                                                                                        |   | $                 | 24,701.1  |   |         | $      | 23,831.0 |   |
| Mortgage loans on real estate                                                                                                                                                             |   |              | 3,621.2   |   |         |   | 3,673.9 |   |
| Equity real estate, held for the production of income                                                                                                                                     |   |              | 6.4       |   |         |   | 56.3 |   |
| Policy loans                                                                                                                                                                              |   |              | 3,638.2   |   |         |   | 3,700.3 |   |
| Other equity investments                                                                                                                                                                  |   |              | 1,474.3   |   |         |   | 1,646.8 |   |
| Trading securities                                                                                                                                                                   |   |              | 540.8     |   |         |   | 322.7 |   |
| Other invested assets                                                                                                                                                           |   |              | 1,764.8   |   |         |   | 1,501.4 |   |
| Total investments                                                                                                                                                          |   |              | 35,746.8  |   |         |   | 34,732.4 |   |
| Cash and cash equivalents                                                                                                                                                       |   |              | 2,919.6   |   |         |   | 2,403.2 |   |
| Cash and securities segregated, at fair value                                                                                                                              |   |              | 1,246.1   |   |         |   | 2,572.6 |   |
| Broker-dealer related receivables                                                                                                                                          |   |              | 998.7     |   |         |   | 1,020.4 |   |
| Deferred policy acquisition costs                                                                                                                                                    |   |              | 7,811.6   |   |         |   | 7,482.0 |   |
| Goodwill and other intangible assets, net                                                                                                                        |   |              | 3,682.7   |   |         |   | 3,702.4 |   |
| Amounts due from reinsurers                                                                                                                                                |   |              | 2,944.5   |   |         |   | 2,897.2 |   |
| Loans to affiliates                                                                                                                                                        |   |              | 900.0     |   |         |   | 588.3 |   |
| Other assets                                                                                                                                                               |   |              | 8,936.4   |   |         |   | 13,240.8 |   |
| Separate Accounts’ assets                                                                                                                                                 |   |              | 72,474.1  |   |         |   | 67,627.0 |   |
| Total Assets                                                                                                                                                               |   | $                 | 137,660.5 |   |         | $      | 136,266.3 |   |
|                                                                                                                                                                                      |   |              |      |   |         |   |   |   |
| LIABILITIES                                                                                                                                                                               |   |              |      |   |         |   |   |   |
| Policyholders’ account balances                                                                                                                                           |   | $                 | 24,567.1  |   |         | $      | 24,742.5 |   |
| Future policy benefits and other policyholders liabilities                                                                                             |   |              | 17,149.8  |   |         |   | 17,733.1 |   |
| Broker-dealer related payables                                                                                                                                        |   |              | 344.2     |   |         |   | 485.5 |   |
| Customers related payables                                                                                                                                       |   |              | 1,698.0   |   |         |   | 2,753.1 |   |
| Amounts due to reinsurers                                                                                                                                             |   |              | 67.8      |   |         |   | 64.2 |   |
| Short-term and long-term debt                                                                                                                                              |   |              | 387.5     |   |         |   | 484.6 |   |
| Loans from affiliates                                                                                                                                       |   |              | 1,325.0   |   |         |   | 1,325.0 |   |
| Income taxes payable                                                                                                                                             |   |              | 3,147.4   |   |         |   | 3,794.4 |   |
| Other liabilities                                                                                                                                 |   |              | 2,722.3   |   |         |   | 2,861.4 |   |
| Noncontrolling interest subject to redemption rights                                                                                                        |   |              | -         |   |         |   | 135.0 |   |
| Separate Accounts’ liabilities                                                                      |   |              | 72,474.1  |   |         |   | 67,627.0 |   |
| Total liabilities                             |   |              | 123,883.2 |   |         |   | 122,005.8 |   |
|                                                                                                                                                                                      |   |              |      |   |         |   |   |   |
| 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                                                                                                                         |   |              | 5,627.5   |   |         |   | 5,184.1 |   |
| Retained earnings                                                                                                                                                     |   |              | 6,820.4   |   |         |   | 8,412.6 |   |
| Accumulated other comprehensive loss                                                                                                                                            |   |              | (1,777.8  | )      |         |   | (2,235.6 | ) |
| Total AXA Equitable’s equity                                                                                                                                    |   |              | 10,672.6  |   |         |   | 11,363.6 |   |
| Noncontrolling interest                                                                                                                                                    |   |              | 3,104.7   |   |         |   | 2,896.9 |   |
| Total equity                                                                                                                                                                         |   |              | 13,777.3  |   |         |   | 14,260.5 |   |
| Total Liabilities and Equity                                                                                                                                          |   | $                 | 137,660.5 |   |         | $      | 136,266.3 |   |

----

|                                                                                                                                                                         |   | Three Months EndedJune 30, |     |   | Six Months EndedJune 30, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|----------|--------|--------------------------|--------|
|                                                                                                                                                                         |   | 2009                       |     |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
|                                                                                                                                                                         |   | (In Millions)              |     |
|                                                                                                                                                                         |   |                       |     |   |                     |   |   |   |   |   |   |   |
| REVENUES                                                                                                                                                                     |   |                       |     |   |                     |   |   |   |   |   |   |   |
| Universal life and investment-type                                                                                                                                           |   |                       |     |   |                     |   |   |   |   |   |   |   |
| product policy fee income                                                                                                                                          |   | $                          | 732.6    |   |                     | $      | 751.5 |   |   | $ | 1,410.3 |   |   | $ | 1,470.2 |   |
| Premiums                                                  |   |                       | 112.9    |   |                     |   | 194.3 |   |   |   | 240.8 |   |   |   | 403.0 |   |
| Net investment (loss) income:                                                                                                                                                |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Investment (loss) income from                                                                                                                                                |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| derivative instruments                                                                                                                                             |   |                       | (1,976.3 | )      |                     |   | (142.4 | ) |   |   | (1,753.8 | ) |   |   | 561.8 |   |
| Other investment income                                                                                                                                       |   |                       | 540.3    |   |                     |   | 596.8 |   |   |   | 863.0 |   |   |   | 1,084.8 |   |
| Total net investment (loss) income                                                                                                                            |   |                       | (1,436.0 | )      |                     |   | 454.4 |   |   |   | (890.8 | ) |   |   | 1,646.6 |   |
| Investment (losses) gains, net:                                                                                                                                              |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Total other-than-temporary impairment losses                                                                                                                                 |   |                       | (65.7    | )      |                     |   | (36.9 | ) |   |   | (93.2 | ) |   |   | (61.0 | ) |
| Portion of loss recognized in other                                                                                                                                          |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| comprehensive income                                                                                                                                          |   |                       | 3.3      |   |                     |   | - |   |   |   | 3.3 |   |   |   | - |   |
| Net impairment losses recognized                                                                                                                                   |   |                       | (62.4    | )      |                     |   | (36.9 | ) |   |   | (89.9 | ) |   |   | (61.0 | ) |
| Other investment gains, net                                                                                                                                             |   |                       | 9.9      |   |                     |   | 10.4 |   |   |   | 175.9 |   |   |   | 21.5 |   |
| Total investment (losses) gains, net                                                                                                                                         |   |                       | (52.5    | )      |                     |   | (26.5 | ) |   |   | 86.0 |   |   |   | (39.5 | ) |
| Commissions, fees and other income                                                                                                                                      |   |                       | 807.3    |   |                     |   | 1,248.4 |   |   |   | 1,576.0 |   |   |   | 2,518.2 |   |
| (Decrease) increase in fair value                                                                                                                                            |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| of reinsurance contracts                                                                                                                                      |   |                       | (1,198.1 | )      |                     |   | (220.8 | ) |   |   | (2,135.8 | ) |   |   | 185.4 |   |
| Total revenues                                                                                                                                 |   |                       | (1,033.8 | )      |                     |   | 2,401.3 |   |   |   | 286.5 |   |   |   | 6,183.9 |   |
|                                                                                                                                                                         |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| BENEFITS AND OTHER DEDUCTIONS                                                                                                                                                |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Policyholders’ benefits                                                                                                                                 |   |                       | (92.6    | )      |                     |   | 464.4 |   |   |   | 488.8 |   |   |   | 1,017.1 |   |
| Interest credited to policyholders’                                                                                                                                    |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| account balances                                                                                                                                                        |   |                       | 246.1    |   |                     |   | 261.3 |   |   |   | 504.2 |   |   |   | 528.0 |   |
| Compensation and benefits                                                                                                                                                    |   |                       | 476.2    |   |                     |   | 569.3 |   |   |   | 938.5 |   |   |   | 1,135.9 |   |
| Commissions                                                         |   |                       | 245.0    |   |                     |   | 359.0 |   |   |   | 548.4 |   |   |   | 738.2 |   |
| Distribution plan payments                                                                                                                               |   |                       | 48.8     |   |                     |   | 78.7 |   |   |   | 91.2 |   |   |   | 157.9 |   |
| Amortization of deferred sales commissions                                                                                                                                   |   |                       | 13.8     |   |                     |   | 20.5 |   |   |   | 28.7 |   |   |   | 42.5 |   |
| Interest expense                           |   |                       | 27.0     |   |                     |   | 11.7 |   |   |   | 54.0 |   |   |   | 26.5 |   |
| Amortization of deferred policy acquisition costs                                                                                                                            |   |                       | (108.2   | )      |                     |   | (303.4 | ) |   |   | (73.6 | ) |   |   | 512.0 |   |
| Capitalization of deferred policy acquisition costs                                                                                                                          |   |                       | (233.9   | )      |                     |   | (366.8 | ) |   |   | (529.4 | ) |   |   | (737.2 | ) |
| Rent expense                                              |   |                       | 60.2     |   |                     |   | 60.6 |   |   |   | 124.7 |   |   |   | 119.9 |   |
| Amortization of other intangible assets                                                                                                                                      |   |                       | 6.3      |   |                     |   | 6.0 |   |   |   | 12.2 |   |   |   | 11.9 |   |
| Other operating costs and expenses                                                                                                                                      |   |                       | 340.9    |   |                     |   | 293.6 |   |   |   | 671.2 |   |   |   | 623.5 |   |
| Total benefits and other deductions                                                                                                                                |   |                       | 1,029.6  |   |                     |   | 1,454.9 |   |   |   | 2,858.9 |   |   |   | 4,176.2 |   |
|                                                                                                                                                                         |   |                       |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                        |   | Three Months Ended |     |    | Six Months Ended |    |
|---------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|---------|------------------|---------|
|                                                                                                                                        |   | June 30,           |     |    | June 30,         |    |
|                                                                                                                                        |   | 2009               |     |    | 2008             |    |   | 2009 |   |   | 2008 |   |
|                                                                                                                                        |   | (In Millions)      |     |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |
| (Loss) earnings from continuing operations                                                                                                  |   |               |     |    |             |    |   |   |   |   |   |   |
| before income taxes                                                                                                               |   |  $            | (2,063.4 | )       |             |  $ | 946.4 |   |   |  $ | (2,572.4 | ) |   |  $ | 2,007.7 |   |
| Income tax benefit (expense)                                                                                                      |   |               | 796.8    |    |             |    | (263.9 | ) |   |   | 1,003.1 |   |   |   | (597.5 | ) |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| (Loss) earnings from continuing operations,                                                                                                 |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| net of income taxes                                              |   |               | (1,266.6 | )       |             |    | 682.5 |   |   |   | (1,569.3 | ) |   |   | 1,410.2 |   |
| Earnings from discontinued operations,                                                                                                      |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| net of income taxes                     |   |               | 3.5      |    |             |    | 5.5 |   |   |   | 8.6 |   |   |   | 11.0 |   |
| Gain on disposal of discontinued                                                                                                            |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| operations, net of income taxes                                                                                                             |   |               | -        |    |             |    | - |   |   |   | - |   |   |   | 6.3 |   |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| Net (loss) earnings                                                                                           |   |               | (1,263.1 | )       |             |    | 688.0 |   |   |   | (1,560.7 | ) |   |   | 1,427.5 |   |
| Less: net earnings attributable to the                                                                                                      |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| noncontrolling interest                                                                                                           |   |               | (80.8    | )       |             |    | (177.4 | ) |   |   | (93.5 | ) |   |   | (309.5 | ) |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| Net (Loss) Earnings Attributable to AXA Equitable                                                                                           |   | $                  | (1,343.9 | )       |             | $       | 510.6 |   |   | $ | (1,654.2 | ) |   | $ | 1,118.0 |   |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| Amounts attributable to AXA Equitable:                                                                                                      |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
|        (Loss) earnings from continuing operations,                                                            |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
|             net of income taxes                                            |   | $                  | (1,347.4 | )  |             | $       | 505.1 |   |   | $ | (1,662.8 | )  |   | $ | 1,100.7 |   |
|        Earnings from discontinued operations,                                                                 |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
|             net of income taxes                                                      |   |               | 3.5      |    |             |    | 5.5 |   |   |   | 8.6 |   |   |   | 11.0 |   |
|        Gain on disposal of discontinued                                                                       |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
| operations, net of income taxes                                                                                                             |   |               | -        |    |             |    | - |   |   |   | - |   |   |   | 6.3 |   |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |
|        Net (Loss) Earnings                                                                               |   | $                  | (1,343.9 | )       |             | $       | 510.6 |   |   | $ | (1,654.2 | ) |   | $ | 1,118.0 |   |
|                                                                                                                                        |   |               |     |    |             |    |   |   |   |   |   |   |   |   |   |   |

----

|                                                                |   | 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                      |   |          | 443.4    |   |   |   | 19.6 |   |
| Capital in excess of par value, end of period        |   |          | 5,627.5  |   |   |   | 5,285.0 |   |
|                                                                |   |          |     |   |   |   |   |   |
| Retained earnings, beginning of year                                |   |          | 8,412.6  |   |   |   | 5,186.0 |   |
| Net (loss) earnings attributable to AXA Equitable              |   |          | (1,654.2 | )      |   |   | 1,118.0 |   |
| Impact of adoption of FSP FAS 115-2 and FAS 124-2, net of taxes     |   |          | 62.0     |   |   |   | - |   |
| Retained earnings, end of period                          |   |          | 6,820.4  |   |   |   | 6,304.0 |   |
|                                                                |   |          |     |   |   |   |   |   |
| Accumulated other comprehensive loss, beginning of year             |   |          | (2,235.6 | )      |   |   | (267.9 | ) |
| Impact of adoption of FSP FAS 115-2 and FAS 124-2, net of taxes     |   |          | (62.0    | )      |   |   |   |   |
| Other comprehensive income (loss) attributable to AXA Equitable     |   |          | 519.8    |   |   |   | (509.7 | ) |
| Accumulated other comprehensive loss, end of period       |   |          | (1,777.8 | )      |   |   | (777.6 | ) |
|                                                                |   |          |     |   |   |   |   |   |
| Total AXA Equitable’s equity, end of period    |   |          | 10,672.6 |   |   |   | 10,813.9 |   |
|                                                                |   |          |     |   |   |   |   |   |
| Noncontrolling interest, beginning of year           |   |          | 2,896.9  |   |   |   | 2,478.9 |   |
| Purchase of AllianceBernstein Units by noncontrolling interest      |   |          | -        |   |   |   | 31.2 |   |
| Exercise of AllianceBernstein Put                         |   |          | 135.0    |   |   |   | - |   |
| Dividends paid to noncontrolling interest       |   |          | (86.7    | )      |   |   | (306.5 | ) |
| Capital contributions                                               |   |          | 3.5      |   |   |   | 21.6 |   |
| Net earnings attributable to noncontrolling interest      |   |          | 93.5     |   |   |   | 309.5 |   |
| Other comprehensive income attributable to noncontrolling interest  |   |          | 35.8     |   |   |   | 1.8 |   |
| Other changes in noncontrolling interest                  |   |          | 26.7     |   |   |   | 9.1 |   |
|                                                                |   |          |     |   |   |   |   |   |
| Noncontrolling interest, end of period                    |   |          | 3,104.7  |   |   |   | 2,545.6 |   |
|                                                                |   |          |     |   |   |   |   |   |
| Total Equity, End of Period                     |   | $             | 13,777.3 |   |   | $      | 13,359.5 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009          |     |   | 2008   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|----------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          |     |   |   |   |
| Net (loss) earnings                                                                                             |   | $             | (1,560.7 | )      |   | $      | 1,427.5 |   |
| Adjustments to reconcile net earnings to net cash provided                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |          |     |   |   |   |   |   |
| by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |          |     |   |   |   |   |   |
| Interest credited to policyholders’ account balances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          | 504.2    |   |   |   | 528.0 |   |
| Universal life and investment-type product policy fee income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |          | (1,410.3 | )      |   |   | (1,470.2 | ) |
| Net change in broker-dealer and customer related receivables/payables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |          | (1,308.7 | )      |   |   | (713.8 | ) |
| Change in net investment income related to derivatives                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          | 1,870.1  |   |   |   | (561.8 | ) |
| Change in reinsurance recoverable with affiliate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |          | 1,485.7  |   |   |   | - |   |
| Investment (gains) losses, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |          | (86.0    | )      |   |   | 39.5 |   |
| Change in segregated cash and securities, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |          | 1,326.5  |   |   |   | 570.4 |   |
| Change in deferred policy acquisition costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |          | (603.0   | )      |   |   | (225.1 | ) |
| Change in future policy benefits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |          | (584.4   | )      |   |   | 55.3 |   |
| Change in income tax payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |          | (952.9   | )      |   |   | 453.4 |   |
| Change in fair value of guaranteed minimum income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |          |     |   |   |   |   |   |
| benefit reinsurance contracts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |          | 2,135.8  |   |   |   | (185.4 | ) |
| Equity loss (income) in other limited partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |          | 173.1    |   |   |   | (39.4 | ) |
| Amortization of deferred sales commissions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |          | 28.7     |   |   |   | 42.5 |   |
| Other depreciation and amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |          | 75.6     |   |   |   | 66.6 |   |
| Amortization of reinsurance cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |          | 143.2    |   |   |   | - |   |
| Amortization of other intangible assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          | 12.2     |   |   |   | 11.9 |   |
| Other, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |          | 93.1     |   |   |   | 8.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          |     |   |   |   |   |   |
| Net cash provided by operating activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |          | 1,342.2  |   |   |   | 8.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          |     |   |   |   |   |   |
| Cash flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |          |     |   |   |   |   |   |
| Maturities and repayments of fixed maturities and mortgage loans on real estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |          | 906.0    |   |   |   | 785.6 |   |
| Sales of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          | 2,082.7  |   |   |   | 524.9 |   |
| Purchases of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |          | (2,080.0 | )      |   |   | (1,120.4 | ) |
| Cash settlements related to derivative instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |          | (2,156.4 | )      |   |   | 573.3 |   |
| Increase in loans to affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |          | (250.0   | )      |   |   | - |   |
| Change in short-term investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |          | (12.6    | )      |   |   | 6.9 |   |
| Change in capitalized software, leasehold improvements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          |     |   |   |   |   |   |
| and EDP equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |          | (100.2   | )      |   |   | (75.1 | ) |
| Other, net                                                                                                                |   |          | (64.2    | )      |   |   | 10.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          |     |   |   |   |   |   |
| Net cash (used in) provided by investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |          | (1,674.7 | )      |   |   | 705.8 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          |     |   |   |   |   |   |

----

|   | 2009          |   | 2008   |
|--------|---------------|--------|--------|
|   | (In Millions) |
|   |          |   |   |   |   |

| Cash flows from financing activities:  |
|----------------------------------------|
| Policyholders’ account balances: |

| Deposits                                                                                                                                            | $      | 2,064.6  |   |   | $      | 2,044.7  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|--------|--------|----------|--------|
| Withdrawals and transfers to Separate Accounts                                                                                                                                         |   | (1,380.8 | )      |   |   | (1,297.0 | )      |
| Net change in short-term financings                                                                                                                                          |   | (.4      | )      |   |   | (38.3    | )      |
| Decrease in collateralized pledged liabilities                                                                                                                          |   | (252.8   | )      |   |   | -        |   |
| Capital contribution                                                                                                                                                         |   | 438.9    |   |   |   | -        |   |
| Other, net                                                                                                                                                                   |   | (20.6    | )      |   |   | (245.8   | )      |
|                                                                                                                                                                                        |   |     |   |   |   |     |   |
| Net cash provided by financing activities                                                                                                                                         |   | 848.9    |   |   |   | 463.6    |   |
|                                                                                                                                                                                        |   |     |   |   |   |     |   |
| Change in cash and cash equivalents                                                                                                                                          |   | 516.4    |   |   |   | 1,177.4  |   |
| Cash and cash equivalents, beginning of year                                                                                                                                           |   | 2,403.2  |   |   |   | 1,173.2  |   |
|                                                                                                                                                                                        |   |     |   |   |   |     |   |
| Cash and Cash Equivalents, End of Period                                                                                                                                     | $      | 2,919.6  |   |   | $      | 2,350.6  |   |
|                                                                                                                                                                                        |   |     |   |   |   |     |   |
| Supplemental cash flow information                                                                                                                                                          |   |     |   |   |   |     |   |
| Interest Paid                              | $      | 8.6      |   |   | $      | 14.4     |   |
| Income Taxes Paid                                                                                                                                                  | $      | 37.7     |   |   | $      | 177.0    |   |

----

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

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

----

| ·   | 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 thecontrolling entity loses control and deconsolidates a subsidiary will a gain or loss be recognized. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

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

|                                                                                                                                                                                                                                                                                            |          |   |       |   |       |   |       |   | Other-than- |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|--------|------------|--------|------------|--------|------------|--------|-------------|
|                                                                                                                                                                                                                                                                                            |          |   | Gross      |   | Gross      |   |       |   | Temporary   |
|                                                                                                                                                                                                                                                                                            | Amortized     |   | Unrealized |   | Unrealized |   |       |   | Impairments |
|                                                                                                                                                                                                                                                                                            | Cost          |   | Gains      |   | Losses     |   | Fair Value |   | in AOCI (3) |
|                                                                                                                                                                                                                                                                                            | (In Millions) |
|                                                                                                                                                                                                                                                                                            |          |   |       |   |       |   |       |   |        |   |   |   |   |   |
| June 30, 2009:                                                                                                                                                                                                                                                                                  |          |   |       |   |       |   |       |   |        |   |   |   |   |   |
| Fixed Maturities:                                                                                                                                                                                                                                                                               |          |   |       |   |       |   |       |   |        |   |   |   |   |   |
| Corporate                                                                                                                                                                                                                                                                                  |          | $      | 18,595.4   |   |       | $      | 473.6      |   |        | $ | 819.2 |   |   | $ | 18,249.8 |   |   | $ | .7 |   |
| U.S. Treasury, government                                                                                                                                                                                                                                                                       |          |   |       |   |       |   |       |   |        |   |   |   |   |   |   |   |   |   |   |   |
| and agency                                                                                   |          |   | 987.3      |   |       |   | 4.8        |   |        |   | 96.5 |   |   |   | 895.6 |   |   |   | - |   |
| States and political                                                                                                                                                                                                                                                                            |          |   |       |   |       |   |       |   |        |   |   |   |   |   |   |   |   |   |   |   |
| subdivisions                                                                                 |          |   | 188.8      |   |       |   | 6.0        |   |        |   | 3.4 |   |   |   | 191.4 |   |   |   | - |   |
| Foreign governments                                                                |          |   | 221.7      |   |       |   | 25.5       |   |        |   | 2.9 |   |   |   | 244.3 |   |   |   | - |   |
| Commercial mortgage-backed                                                                                                                                                                                                                                                                      |          |   | 2,181.7    |   |       |   | 1.2        |   |        |   | 489.9 |   |   |   | 1,693.0 |   |   |   | - |   |
| Residential mortgage-backed (1)                                                                                                                                                                                                                                                                 |          |   | 1,730.4    |   |       |   | 45.3       |   |        |   | 11.4 |   |   |   | 1,764.3 |   |   |   | - |   |
| Asset-backed (2)                                                                   |          |   | 427.0      |   |       |   | 16.2       |   |        |   | 42.0 |   |   |   | 401.2 |   |   |   | 7.9 |   |
| Redeemable preferred stock                                                                                                                                                                                                                                                                      |          |   | 1,838.5    |   |       |   | .1         |   |        |   | 577.1 |   |   |   | 1,261.5 |   |   |   | - |   |
| Total Fixed Maturities                                                                                                                                                                                                                                                                |          |   | 26,170.8   |   |       |   | 572.7      |   |        |   | 2,042.4 |   |   |   | 24,701.1 |   |   |   | 8.6 |   |
|                                                                                                                                                                                                                                                                                            |          |   |       |   |       |   |       |   |        |   |   |   |   |   |   |   |   |   |   |   |
| Equity securities                                              |          |   | 36.1       |   |       |   | .5         |   |        |   | - |   |   |   | 36.6 |   |   |   | - |   |
|                                                                                                                                                                                                                                                                                            |          |   |       |   |       |   |       |   |        |   |   |   |   |   |   |   |   |   |   |   |
| Total at June 30, 2009                                                                                                                                                                                                                                                                          |          | $      | 26,206.9   |   |       | $      | 573.2      |   |        | $ | 2,042.4 |   |   | $ | 24,737.7 |   |   | $ | 8.6 |   |

|                                                                                                                                                                                                                                                                                            |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
| December 31, 2008                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed Maturities:                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                                                          |   | $      | 18,689.6 |   |   | $ | 231.4 |   |   | $ | 1,713.3 |   |   | $ | 17,207.7 |   |   |   |   |   |
| U.S. Treasury, government                                                                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and agency                                                                                   |   |   | 907.0 |   |   |   | 260.9 |   |   |   | - |   |   |   | 1,167.9 |   |   |   |   |   |
| States and political                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| subdivisions                                                                                 |   |   | 181.5 |   |   |   | 12.0 |   |   |   | 9.1 |   |   |   | 184.4 |   |   |   |   |   |
| Foreign governments                                                                |   |   | 214.3 |   |   |   | 37.3 |   |   |   | 5.6 |   |   |   | 246.0 |   |   |   |   |   |
| Commercial mortgage-backed                                                                                                                                                                                                                                                                      |   |   | 2,215.5 |   |   |   | 4.0 |   |   |   | 544.8 |   |   |   | 1,674.7 |   |   |   |   |   |
| Residential mortgage-backed (1)                                                                                                                                                                                                                                                                 |   |   | 1,244.8 |   |   |   | 51.2 |   |   |   | - |   |   |   | 1,296.0 |   |   |   |   |   |
| Asset-backed (2)                                                                   |   |   | 937.4 |   |   |   | 40.3 |   |   |   | 35.2 |   |   |   | 942.5 |   |   |   |   |   |
| Redeemable preferred stock                                                                                                                                                                                                                                                                      |   |   | 1,820.9 |   |   |   | 1.5 |   |   |   | 710.6 |   |   |   | 1,111.8 |   |   |   |   |   |
| Total Fixed Maturities                                                                                                                                                                                                                                                                     |   |   | 26,211.0 |   |   |   | 638.6 |   |   |   | 3,018.6 |   |   |   | 23,831.0 |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity securities                                              |   |   | 31.7  |   |   |   | -  |   |   |   | 4.9  |   |   |   | 26.8  |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total at December 31, 2008                                                                                                                                                                                                                                                       |   | $      | 26,242.7 |   |   | $ | 638.6 |   |   | $ | 3,023.5 |   |   | $ | 23,857.8 |   |   |   |   |   |

| (1)   | Includes publicly traded agency pass-through securities and collateralized mortgage obligations |
|-----------------|-------------------------------------------------------------------------------------------------|

| (2)   | Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans |
|-----------------|-------------------------------------------------------------------------------------------------------------------------|

| (3)   | Amounts represent OTTI losses in AOCI, which were not included in earnings since the adoption of FSP 115-2 on April 1, 2009. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------|

----

|                                   | Available for Sale |   |
|----------------------------------------|--------------------|--------|
|                                   | Amortized          |   |   |   |
|                                   | Cost               |   | Fair Value |   |
|                                   | (In Millions)      |   |
|                                   |               |   |
| Due in one year or less                |               | $      | 749.2 |   |   | $ | 754.9 |   |
| Due in years two through five          |               |   | 8,153.1 |   |   |   | 8,255.2 |   |
| Due in years six through ten           |               |   | 7,274.9 |   |   |   | 6,976.7 |   |
| Due after ten years                    |               |   | 3,816.0 |   |   |   | 3,594.3 |   |
| Subtotal                               |               |   | 19,993.2 |   |   |   | 19,581.1 |   |
| Commercial mortgage-backed bonds  |               |   | 2,181.7 |   |   |   | 1,693.0 |   |
| Residential mortgage-backed bonds      |               |   | 1,730.4 |   |   |   | 1,764.3 |   |
| Asset-backed bonds                     |               |   | 427.0 |   |   |   | 401.2 |   |
| Total                                  |               | $      | 24,332.3 |   |   | $ | 23,439.6 |   |

----

| Balance at March 31, 2009                                                              |   | $      | -    |   |
|----------------------------------------------------------------------------------------|--------|--------|------|--------|
| Cumulative adjustment related to adoption of FSP 115-2             |   |   | 16.9 |   |
| Previously recognized impairments on securities that matured, paid, prepaid or sold    |   |   | (.7  | )      |
| Previously recognized impairments on securities impaired to fair value this period (1) |   |   | -    |   |
| Impairments recognized this period on securities not previously impaired               |   |   | 3.9  |   |
| Additional impairments this period on securities previously impaired         |   |   | 1.2  |   |
| Increases due to passage of time on previously recorded credit losses             |   |   | -    |   |
| Accretion of previously recognized impairments due to increases in expected cash flows |   |   | -    |   |
| Balance at June 30, 2009                                           |   | $      | 21.3 |   |

| (1) | Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | June 30,2009  |     | December 31,2008 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|----------|------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | (In Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |          |     |             |   |   |
| AFS Securities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |          |     |             |   |   |
| Fixed maturities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |          |     |             |   |   |
| With OTTI loss                                                                                                                             |   | $             | (12.1    | )                |   | $ | - |   |
| All other                                                                                                                                  |   |          | (1,457.6 | )                |   |   | (2,380.0 | ) |
| Equity securities                                                                                                                |   |          | .5       |             |   |   | (4.9 | ) |
| Net Unrealized (Losses) Gains                                                                                          |   | $             | (1,469.2 | )                |   | $ | (2,384.9 | ) |

----

|                                                    |   | NetUnrealizedGains(Losses) onInvestments |   |   | DAC    |    |    | PolicyholdersLiabilities |   |    | DeferredIncomeTax(Liability)Asset |   | AOCI(Loss)Related to NetUnrealizedInvestmentGains (Losses) |
|---------------------------------------------------------|--------|------------------------------------------|--------|--------|--------|---------|---------|--------------------------|--------|---------|-----------------------------------|--------|------------------------------------------------------------|
|                                                    |   | (In Millions)                            |
|                                                    |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |
| Balance, March 31, 2009                                 |   | $                                        | -      |   |   |  $ | -  |                     |   |  $ | -                                 |   |                                                       |  $ | - |   |   | $ | -  |   |
|     Cumulative impact of adopting        |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| FSP 115-2                                               |   |                                     | (5.4   | )      |   |    | .6      |                     |   |    | -                                 |   |                                                       |   | 1.7 |   |   |   | (3.1 | ) |
|     Net investment gains (losses)   |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| arising during the period                               |   |                                     | (4.8   | )      |   |    | -       |                     |   |    | -                                 |   |                                                       |   | - |   |   |   | (4.8 | ) |
|     Reclassification adjustment for |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| OTTI (losses) included in                               |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| Net (loss) earnings                                     |   |                                     | 1.2    |   |   |    | -       |                     |   |    | -                                 |   |                                                       |   | - |   |   |   | 1.2 |   |
|     Reclassification adjustment for      |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| OTTI (losses) excluded from                             |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| Net (loss) earnings (1)                            |   |                                     | (3.1   | )      |   |    | -       |                     |   |    | -                                 |   |                                                       |   | - |   |   |   | (3.1 |  ) |
|     Impact of net unrealized investment  |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| gains (losses) on DAC                                   |   |                                     | -      |   |   |    | 1.4     |                     |   |    | -                                 |   |                                                       |   | - |   |   |   | 1.4 |   |
|     Impact of net unrealized investment  |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| gains (losses) on deferred income                       |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| taxes                                                   |   |                                     | -      |   |   |    | -       |                     |   |    | -                                 |   |                                                       |   | 1.9 |   |   |   | 1.9 |   |
|     Impact of net unrealized investment  |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| gains (losses) on Policyholders                         |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |
| liabilities                                             |   |                                     | -      |   |   |    | -       |                     |   |    | -                                 |   |                                                       |   | - |   |   |   | - |   |
| Balance, June 30, 2009                                  |   | $                                        | (12.1  | )      |   |  $ | 2.0     |                     |   |  $ | -                                 |   |                                                       |  $ | 3.6 |   |   | $ | (6.5 | ) |
|                                                    |   |                                     |   |   |   |    |    |                     |   |    |                              |   |                                                       |   |   |   |   |   |   |   |

| (1)     | Represents “transfers in” related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. |
|------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                |   |          |     |   |   |   |   |          |   |   |        |   |   | AOCI           |    |
|-------------------------------------|--------|---------------|----------|--------|--------|--------|--------|---------------|--------|--------|-------------|--------|--------|----------------|---------|
|                                |   | Net           |     |   |   |   |   |          |   |   | Deferred    |   |   | (Loss)         |    |
|                                |   | Unrealized    |     |   |   |   |   |          |   |   | Income      |   |   | Related to Net |    |
|                                |   | Gains         |     |   |   |   |   |          |   |   | Tax         |   |   | Unrealized     |    |
|                                |   | (Losses) on   |     |   |   |   |   | Policyholders |   |   | (Liability) |   |   | Investment     |    |
|                                |   | Investments   |     |   | DAC    |   |   | Liabilities   |   |   | Asset       |   |   | Gains (Losses) |    |
|                                |   | (In Millions) |     |
|                                |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |
| Balance, March 31, 2009             |   | $             | (3,007.3 | )      |   | $      | 812.7  |          |   | $      | -           |   |   | $              | 787.6   |   |   | $ | (1,407.0 | ) |
| Cumulative impact of adopting       |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| FSP 115-2                           |   |          | (102.6   | )      |   |   | 19.4   |          |   |   | -           |   |   |           | 29.1    |   |   |   | (54.1 | ) |
| Net investment gains (losses)       |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| arising during the period           |   |          | 1,718.8  |   |   |   | -      |          |   |   | -           |   |   |           | -       |   |   |   | 1,718.8 |   |
| Reclassification adjustment for     |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) included in          |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| Net (loss) earnings                 |   |          | (69.1    | )      |   |   | -      |          |   |   | -           |   |   |           | -       |   |   |   | (69.1 | ) |
| Reclassification adjustment for     |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| OTTI (losses) excluded from         |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| Net (loss) earnings (1)        |   |          | 3.1      |   |   |   | -      |          |   |   | -           |   |   |           | -       |   |   |   | 3.1 |   |
| Impact of net unrealized investment |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) on DAC               |   |          | -        |   |   |   | (533.9 | )             |   |   | -           |   |   |           | -       |   |   |   | (533.9 | ) |
| Impact of net unrealized investment |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) on deferred income   |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| taxes                               |   |          | -        |   |   |   | -      |          |   |   | -           |   |   |           | (414.8  | )  |   |   | (414.8 | ) |
| Impact of net unrealized investment |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) on Policyholders     |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| liabilities                         |   |          | -        |   |   |   | -      |          |   |   | -           |   |   |           | -       |   |   |   | - |   |
| Balance, June 30, 2009              |   | $             | (1,457.1 | )      |   | $      | 298.2  |          |   | $      | -           |   |   | $              | 401.9   |   |   | $ | (757.0 | ) |
|                                |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| Balance, January 1, 2009            |   | $             | (2,384.9 | )      |   | $      | 553.6  |          |   | $      | -           |   |   | $              | 681.3   |   |   | $ | (1,150.0 | ) |
| Cumulative impact of adopting       |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| FSP 115-2                           |   |          | (102.6   | )      |   |   | 19.4   |          |   |   | -           |   |   |           | 29.1    |   |   |   | (54.1 | ) |
| Net investment gains (losses)       |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| arising during the period           |   |          | 1,254.3  |   |   |   | -      |          |   |   | -           |   |   |           | -       |   |   |   | 1,254.3 |   |
| Reclassification adjustment for     |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) included in          |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| Net (loss) earnings                 |   |          | (227.0   | )      |   |   | -      |          |   |   | -           |   |   |           | -       |   |   |   | (227.0 | ) |
| Reclassification adjustment for     |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| OTTI (losses) excluded from         |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| Net (loss) earnings (1)        |   |          | 3.1      |   |   |   | -      |          |   |   | -           |   |   |           | -       |   |   |   | 3.1 |   |
| Impact of net unrealized investment |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) on DAC               |   |          | -        |   |   |   | (274.8 | )             |   |   | -           |   |   |           | -       |   |   |   | (274.8 | ) |
| Impact of net unrealized investment |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) on deferred income   |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| taxes                               |   |          | -        |   |   |   | -      |          |   |   | -           |   |   |           | (308.5  | ) |   |   | (308.5  | ) |
| Impact of net unrealized investment |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| gains (losses) on Policyholders     |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |
| liabilities                         |   |          | -        |   |   |   | -      |          |   |   | -           |   |   |           | -  |   |   |   | -  |   |
| Balance, June 30, 2009              |   | $             | (1,457.1 | )      |   | $      | 298.2  |          |   | $      | -           |   |   | $              | 401.9   |   |   | $ | (757.0 | ) |
|                                |   |          |     |   |   |   |   |          |   |   |        |   |   |           |    |   |   |   |   |   |

|   | (1) | Represents “transfers out” related to the portion of OTTI losses during the period that were not recognized in earnings for securities with no prior OTTI loss. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                              |   | June 30, 2009           |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|---------|
|                                                                                                                                                                              |   | Less Than 12 Months (1) |    |   | 12 Months or Longer (1) |   |   | Total |   |
|                                                                                                                                                                              |   |                    |    |   | Gross |   |   |   |   |   | Gross |   |   |   |   |   | Gross |   |
|                                                                                                                                                                              |   |                    |    |   | Unrealized |   |   |   |   |   | Unrealized |   |   |   |   |   | Unrealized |   |
|                                                                                                                                                                              |   | Fair Value              |    |   | Losses |   |   | Fair Value |   |   | Losses |   |   | Fair Value |   |   | Losses |   |
|                                                                                                                                                                              |   | (In Millions)           |    |
|                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed Maturities:                                                                                                                                                                 |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                             |   | $                       | 2,532.6 |   |   | $ | (251.3 | ) |   | $ | 5,441.5 |   |   | $ | (567.9 | ) |   | $ | 7,974.1 |   |   | $ | (819.2 | ) |
| U.S. Treasury, government                                                                                                                                                         |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and agency                                                                                                                                          |   |                    | 843.6   |   |   |   | (96.5 | ) |   |   | - |   |   |   | - |   |   |   | 843.6 |   |   |   | (96.5 | ) |
| States and political subdivisions                                                                                                                                                 |   |                    | 4.2     |   |   |   | (.1 | ) |   |   | 25.1 |   |   |   | (3.3 | ) |   |   | 29.3 |   |   |   | (3.4 | ) |
| Foreign governments                                                                                                                                                               |   |                    | 41.5    |   |   |   | (2.9 | ) |   |   | 1.0 |   |   |   | - |   |   |   | 42.5 |   |   |   | (2.9 | ) |
| Commercial mortgage-backed                                                                                                                                                        |   |                    | 352.7   |   |   |   | (154.4 | ) |   |   | 1,265.8 |   |   |   | (335.5 | ) |   |   | 1,618.5 |   |   |   | (489.9 | ) |
| Residential mortgage-backed                                                                                                                                                       |   |                    | 245.2   |   |   |   | (11.4 | ) |   |   | - |   |   |   | - |   |   |   | 245.2 |   |   |   | (11.4 | ) |
| Asset-backed                                                                                                                                                                      |   |                    | 77.3    |   |   |   | (22.0 | ) |   |   | 53.8 |   |   |   | (20.0 | ) |   |   | 131.1 |   |   |   | (42.0 | ) |
| Redeemable preferred stock                                                                                                                                                        |   |                    | 245.5   |   |   |   | (156.0 | ) |   |   | 991.6 |   |   |   | (421.1 | ) |   |   | 1,237.1 |   |   |   | (577.1 | ) |
|                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                                                                                                                                             |   | $                       | 4,342.6 |   |   | $ | (694.6 | ) |   | $ | 7,778.8 |   |   | $ | (1,347.8 | ) |   | $ | 12,121.4 |   |   | $ | (2,042.4 | ) |

|   | (1) | The month count for aging of unrealized losses was reset back to historical unrealized loss month counts for securities impacted by the adoption of FSP 115-2. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                              |   | December 31, 2008   |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|---------|
|                                                                                                                                                                              |   | Less Than 12 Months |    |   | 12 Months or Longer |   |   | Total |   |
|                                                                                                                                                                              |   |                |    |   | Gross |   |   |   |   |   | Gross |   |   |   |   |   | Gross |   |
|                                                                                                                                                                              |   |                |    |   | Unrealized |   |   |   |   |   | Unrealized |   |   |   |   |   | Unrealized |   |
|                                                                                                                                                                              |   | Fair Value          |    |   | Losses |   |   | Fair Value |   |   | Losses |   |   | Fair Value |   |   | Losses |   |
|                                                                                                                                                                              |   | (In Millions)       |    |
|                                                                                                                                                                              |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed Maturities:                                                                                                                                                                 |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                             |   | $                   | 8,475.4 |   |   | $ | (985.0 | ) |   | $ | 3,489.5 |   |   | $ | (728.3 | ) |   | $ | 11,964.9 |   |   | $ | (1,713.3 | ) |
| U.S. Treasury, government                                                                                                                                                         |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and agency                                                                                                                                                                        |   |                | -       |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| States and political subdivisions                                                                                                                                                 |   |                | 52.2    |   |   |   | (6.6 | ) |   |   | 17.7 |   |   |   | (2.5 | ) |   |   | 69.9 |   |   |   | (9.1 | ) |
| Foreign governments                                                                                                                                                               |   |                | 70.0    |   |   |   | (5.6 | ) |   |   | - |   |   |   | - |   |   |   | 70.0 |   |   |   | (5.6 | ) |
| Commercial mortgage-backed                                                                                                                                                        |   |                | 308.7   |   |   |   | (19.4 | ) |   |   | 1,342.5 |   |   |   | (525.4 | ) |   |   | 1,651.2 |   |   |   | (544.8 | ) |
| Residential mortgage-backed                                                                                                                                                  |   |                | -       |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Asset-backed                                                                                                                                                                      |   |                | 71.2    |   |   |   | (6.7 | ) |   |   | 67.2 |   |   |   | (28.5 | ) |   |   | 138.4 |   |   |   | (35.2 | ) |
| Redeemable preferred stock                                                                                                                                                   |   |                | 510.0   |   |   |   | (343.5 | ) |   |   | 521.8 |   |   |   | (367.1 | ) |   |   | 1,031.8 |   |   |   | (710.6 | ) |
|                                                                                                                                                                              |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                                                                                                                                             |   | $                   | 9,487.5 |   |   | $ | (1,366.8 | ) |   | $ | 5,438.7 |   |   | $ | (1,651.78 | ) |   | $ | 14,926.2 |   |   | $ | (3,018.6 | ) |

----

----

----

|                                |   |             |     |   | Gains (Losses) Reported |   |
|-------------------------------------|--------|------------------|----------|--------|-------------------------|--------|
|                                |   | At June 30, 2009 |     |   | In Net Earnings         |   |
|                                |   |             |     |   | Fair Value              |   |   | Three Months |   |   | Six Months |   |
|                                |   | Notional         |     |   | Asset                   |   |   | Liability |   |   | Ended |   |   | Ended |   |
|                                |   | Amount           |     |   | Derivatives             |   |   | Derivatives |   |   | June 30 |   |   | June 30 |   |
|                                |   | (In Millions)    |     |
| Freestanding derivatives:           |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |
| Equity contracts (1):          |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |
| Futures              |   | $                | 4,491.8  |   |                    | $      | - |   |   | $ | - |   |   | $ | (803.0 | ) |   | $ | (331.9 | ) |
| Swaps                     |   |             | 506.1    |   |                    |   | - |   |   |   | 7.0 |   |   |   | (88.1 | ) |   |   | (117.6 | ) |
| Options                   |   |             | 10,650.0 |   |                    |   | 651.8 |   |   |   | 550.4 |   |   |   | (402.3 | ) |   |   | (451.0 | ) |
|                                |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate contracts (1):   |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Floors                    |   |             | 21,000.0 |   |                    |   | 323.2 |   |   |   | - |   |   |   | (84.9 | ) |   |   | (166.8 | ) |
| Swaps                     |   |             | 1,400.0  |   |                    |   | 117.7 |   |   |   | 3.2 |   |   |   | (106.1 | ) |   |   | (142.5 | ) |
| Futures                   |   |             | 7,390.9  |   |                    |   | - |   |   |   | - |   |   |   | (491.8 | ) |   |   | (543.9 | ) |
| Swaptions                 |   |             | 250.0    |   |                    |   | 15.1 |   |   |   | - |   |   |   | (.1 | ) |   |   | (.1 | ) |
|                                |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other freestanding contracts (2):   |   |             | -        |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net investment loss                 |   |             |     |   |                    |   |   |   |   |   |   |   |   |   | (1,976.3 | ) |   |   | (1,753.8 | ) |
|                                |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Embedded derivatives:               |   |             | -        |   |                    |   | 2,685.8 |   |   |   | - |   |   |   | (1,198.1 | ) |   |   | (2,135.8 | )  |
| GMIB reinsurance contracts(2)       |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                |   |             |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| GWBL features (3)    |   |             | -        |   |                    |   | - |   |   |   | 123.4 |   |   |   | 136.7 |   |   |   | 149.2 |   |
| Total                |   | $                | 45,688.8 |   |                    | $      | 3,793.6 |   |   | $ | 684.0 |   |   | $ | (3,037.7 | ) |   | $ | (3,740.4 | ) |

| (1)   | Reported in Other invested assets in the consolidated balance sheets. |
|-----------------|-----------------------------------------------------------------------|

| (2)   | Reported in Other assets in the consolidated balance sheets. |
|-----------------|--------------------------------------------------------------|

| (3)   | Reported in Future policy benefits and other policyholder liabilities. |
|-----------------|------------------------------------------------------------------------|

----

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

----

|                                                                                           |   | June 30,      |    |   | December 31, |   |
|------------------------------------------------------------------------------------------------|--------|---------------|---------|--------|--------------|--------|
|                                                                                           |   | 2009          |    |   | 2008         |   |
|                                                                                           |   | (In Millions) |    |
|                                                                                           |   |          |    |   |         |   |
| CLOSED BLOCK LIABILITIES:                                                                      |   |          |    |   |         |   |
| Future policy benefits, policyholders’ account balances and other                        |   | $             | 8,472.0 |   |         | $      | 8,544.8 |   |
| Other liabilities                                                                         |   |          | 98.0    |   |         |   | 71.3 |   |
| Total Closed Block liabilities                                                            |   |          | 8,570.0 |   |         |   | 8,616.1 |   |
|                                                                                           |   |          |    |   |         |   |   |   |
| ASSETS DESIGNATED TO THE CLOSED BLOCK:                                                         |   |          |    |   |         |   |   |   |
| Fixed maturities, available for sale, at fair value                                            |   |          |    |   |         |   |   |   |
| (amortized cost of $5,578.5 and $5,517.6)                                  |   |          | 5,346.0 |   |         |   | 5,041.5 |   |
| Mortgage loans on real estate                                    |   |          | 1,080.7 |   |         |   | 1,107.1 |   |
| Policy loans                                                                    |   |          | 1,168.7 |   |         |   | 1,180.3 |   |
| Cash and other invested assets                                             |   |          | 83.1    |   |         |   | 104.2 |   |
| Other assets                                                     |   |          | 366.9   |   |         |   | 472.4 |   |
| Total assets designated to the Closed Block                                     |   |          | 8,045.4 |   |         |   | 7,905.5 |   |
|                                                                                           |   |          |    |   |         |   |   |   |
| Excess of Closed Block liabilities over assets designated to the Closed Block             |   |          | 524.6   |   |         |   | 710.6 |   |
|                                                                                           |   |          |    |   |         |   |   |   |
| Amounts included in accumulated other comprehensive income:                                    |   |          |    |   |         |   |   |   |
| Net unrealized investment losses, net of deferred income tax benefit of $77.6 and $166.4  |   |          | (144.3  | )      |         |   | (309.2 | ) |
|                                                                                           |   |          |    |   |         |   |   |   |
| Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities    |   | $             | 380.3   |   |         | $      | 401.4 |   |

----

|                                                                                                                                                                                                                                                                                                                                              |   | Three Months Ended |   |    | Six Months Ended |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|---------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                              |   | June 30,           |   |    | June 30,         |   |
|                                                                                                                                                                                                                                                                                                                                              |   | 2009               |   |    | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                              |   | (In Millions)      |   |
| REVENUES:                                                                                                                                                                                                                                                                                                                                         |   |               |   |    |             |   |   |   |   |   |   |   |
| Premiums and other income                                                     |   | $                  | 95.9   |    |             | $      | 99.0 |   |   | $ | 195.8 |   |   | $ | 200.9 |   |
| Investment income (net of investment                                                                                                                                                                                                                                                                                                              |   |               |   |    |             |   |   |   |   |   |   |   |   |   |   |   |
| expenses of $0, $0.3, $0 and $0.8)                                                                                                                                                                                                                                                                                                                |   |               | 122.6  |    |             |   | 124.4 |   |   |   | 242.8 |   |   |   | 250.3 |   |
| Investment gains (losses), net:                                                                                                                                                                                                                                                                                                                   |   |               |   |    |             |   |   |   |   |   |   |   |   |   |   |   |
| Total other-than-temporary impairment losses                                                                                                                                                                                                                                                                                                      |   |               | (2.1   | )  |             |   | (3.6 | )  |   |   | (2.1 | )  |   |   | (4.2 | )  |
| Portion of loss recognized in other comprehensive income                                                                                                                                                                                                                                                                                          |   |               | -      |    |             |   | - |   |   |   | - |   |   |   | - |   |
| Net impairment losses recognized                                                                                                                                                                                                                                                                                                                  |   |               | (2.1   | )       |             |   | (3.6 | ) |   |   | (2.1 | ) |   |   | (4.2 | ) |
| Other investment gains (losses), net                                                                                                                                                                                                                                                                                                              |   |               | 3.9    |    |             |   | (.4 | ) |   |   | 11.3 |   |   |   | (.5 | ) |
| Total investment gains (losses), net                                                                                                                                                                                                                                                                                                              |   |               | 1.8    |    |             |   | (4.0 | ) |   |   | 9.2 |   |   |   | (4.7 | ) |
| Total revenues                                                                                                                                                                                                                                                                                                                               |   |               | 220.3  |    |             |   | 219.4 |   |   |   | 447.8 |   |   |   | 446.5 |   |
|                                                                                                                                                                                                                                                                                                                                              |   |               |   |    |             |   |   |   |   |   |   |   |   |   |   |   |
| BENEFITS AND OTHER DEDUCTIONS:                                                                                                                                                                                                                                                                                                                    |   |               |   |    |             |   |   |   |   |   |   |   |   |   |   |   |
| Policyholders’ benefits and dividends                                                                                                                                                                                                                                                                                                       |   |               | 205.2  |    |             |   | 203.5 |   |   |   | 414.1 |   |   |   | 412.5 |   |
| Other operating costs and expenses                                                                                                                                                                                                                                                                                                                |   |               | .8     |    |             |   | .7 |   |   |   | 1.3 |   |   |   | 1.5 |   |
| Total benefits and other deductions                                                                                                                                                                                                                                                                                                               |   |               | 206.0  |    |             |   | 204.2 |   |   |   | 415.4 |   |   |   | 414.0 |   |
|                                                                                                                                                                                                                                                                                                                                              |   |               |   |    |             |   |   |   |   |   |   |   |   |   |   |   |
| Net revenues before income taxes                                                                                                                                                                                                                                                                                                                  |   |               | 14.3   |    |             |   | 15.2 |   |   |   | 32.4 |   |   |   | 32.5 |   |
| Income taxes                                                                                                                                                                                                                                                                                                                                 |   |               | (5.0   | )       |             |   | (5.3 | ) |   |   | (11.3 | ) |   |   | (11.4 | ) |
| Net Revenues                                                                                                                                                                                                                                                                                                                                 |   | $                  | 9.3    |    |             | $      | 9.9 |   |   | $ | 21.1 |   |   | $ | 21.1 |   |

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

|                                                                                                                                                                                                                                                                                                                                                                |   | Three Months Ended |   |   | Six Months Ended |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                |   | June 30,           |   |   | June 30,         |   |
|                                                                                                                                                                                                                                                                                                                                                                |   | 2009               |   |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                |   | (In Millions)      |   |
|                                                                                                                                                                                                                                                                                                                                                                |   |               |   |   |             |   |   |   |   |   |   |   |
| Earnings from Discontinued Operations, Net of Income Taxes:                                                                                                                                                                                                                                                                                                         |   |               |   |   |             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                |   |               |   |   |             |   |   |   |   |   |   |   |
| Wind-up Annuities                                                                                                                                                                                                                                                                                                                                         |   | $                  | (2.3   | )      |             | $      | - |   |   | $ | (3.8 | ) |   | $ | - |   |
| Real estate held-for-sale                                                                                                                                                                                                                                                                                                                                 |   |               | 5.8    |   |             |   | 5.5 |   |   |   | 12.4 |   |   |   | 11.0 |   |
| Total                                                                                                                                                                                                                                                                                                                                                          |   | $                  | 3.5    |   |             | $      | 5.5 |   |   | $ | 8.6 |   |   | $ | 11.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Gain on Disposal of Discontinued Operations, Net of Income Taxes:                                                                                                                                                                                                                                                                                                   |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Real estate held-for-sale                                                        |   | $                  | -      |   |             | $      | - |   |   | $ | - |   |   | $ | 6.3 |   |
| Total                                                                            |   | $                  | -      |   |             | $      | - |   |   | $ | - |   |   | $ | 6.3 |   |

----

|                                                |   | June 30,2009  |   |   | December 31,2008 |   |
|-----------------------------------------------------|--------|---------------|--------|--------|------------------|--------|
|                                                |   | (In Millions) |   |
|                                                |   |          |   |   |             |   |
| BALANCE SHEETS                                      |   |          |   |   |             |   |
| Fixed maturities, available for sale, at fair value |   |          |   |   |             |   |
| (amortized cost of $638.5 and $661.8)               |   | $             | 612.4  |   |             | $      | 602.1 |   |
| Equity real estate                                  |   |          | 84.4   |   |             |   | 162.2 |   |
| Mortgage loans on real estate                       |   |          | 151.1  |   |             |   | 1.2 |   |
| Other invested assets                               |   |          | 4.4    |   |             |   | 1.3 |   |
| Total investments                                   |   |          | 852.3  |   |             |   | 766.8 |   |
| Cash and cash equivalents                           |   |          | 39.1   |   |             |   | - |   |
| Other assets                                        |   |          | 9.0    |   |             |   | 77.1 |   |
| Total Assets                                        |   | $             | 900.4  |   |             | $      | 843.9 |   |
|                                                |   |          |   |   |             |   |   |   |
| Policyholders liabilities                           |   | $             | 706.4  |   |             | $      | 723.4 |   |
| Other liabilities                                   |   |          | 194.0  |   |             |   | 120.5 |   |
| Total Liabilities                                   |   | $             | 900.4  |   |             | $      | 843.9 |   |

|                                                     |   | Three Months Ended |   |   | Six Months Ended |   |
|----------------------------------------------------------|--------|--------------------|--------|--------|------------------|--------|
|                                                     |   | June 30,           |   |   | June 30,         |   |
|                                                     |   | 2009               |   |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                     |   | (In Millions)      |   |
|                                                     |   |               |   |   |             |   |   |   |   |   |   |   |
| STATEMENTS OF EARNINGS                                   |   |               |   |   |             |   |   |   |   |   |   |   |
| Investment income (net of investment                     |   |               |   |   |             |   |   |   |   |   |   |   |
| expenses of $4.1, $4.7, $9.1 and $9.3)    |   | $                  | 15.4   |   |             | $      | 15.5 |   |   | $ | 31.0 |   |   | $ | 31.4 |   |
| Investment (losses) gains, net:                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Total other-than-temporary                               |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| impairment losses                    |   |               | (2.0   | )      |             |   | - |   |   |   | (2.0 | ) |   |   | - |   |
| Portion of loss recognized in other                      |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| comprehensive income                                |   |               | -      |   |             |   | - |   |   |   | - |   |   |   | - |   |
| Net impairment losses recognized                         |   |               | (2.0   | )      |             |   | - |   |   |   | (2.0 | ) |   |   | - |   |
| Other investment gains, net                              |   |               | .4     |   |             |   | - |   |   |   | .4 |   |   |   | .8 |   |
| Total investment (losses) gains, net                     |   |               | (1.6   | )      |             |   | - |   |   |   | (1.6 | ) |   |   | .8 |   |
| Total revenues                                      |   |               | 13.8   |   |             |   | 15.5 |   |   |   | 29.4 |   |   |   | 32.2 |   |
|                                                     |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Benefits and other deductions                  |   |               | 17.3   |   |             |   | 18.4 |   |   |   | 35.3 |   |   |   | 37.7 |   |
| Losses charged to the                                    |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| allowance for future losses                    |   |               | -      |   |             |   | (2.9 | ) |   |   | - |   |   |   | (5.5 | ) |
| Pre-tax loss from operations              |   |               | (3.5   | )      |             |   | - |   |   |   | (5.9 | ) |   |   | - |   |
|                                                     |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Income tax benefit                                  |   |               | 1.2    |   |             |   | - |   |   |   | 2.1 |   |   |   | - |   |
| Loss from Wind-up Annuities                         |   | $                  | (2.3   | )      |             | $      | - |   |   | $ | (3.8 | ) |   | $ | - |   |

----

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

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

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

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

| ·   | Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit which may include a five year or an annual reset; 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                                                                            |   |          | (65.2   | )      |   |   | (19.8   | )      |   |   | (85.0 | ) |
| Other changes in reserve                                                                           |   |          | 145.1   |   |   |   | (238.7  | )      |   |   | (93.6 | ) |
| Balance at June 30, 2009                                                                 |   | $             | 1,060.8 |   |   | $      | 1,721.4 |   |   | $ | 2,782.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                           |   |          |    |   |   |   |    |   |   |   |   |   |
| Balance at January 1, 2008                                                               |   | $             | 253.0   |   |   | $      | 309.9   |   |   | $ | 562.9 |   |
| Paid guarantee benefits                                                                            |   |          | (16.1   | )      |   |   | (1.8    | )      |   |   | (17.9 | ) |
| Other changes in reserve                                                                           |   |          | 76.3    |   |   |   | 39.7    |   |   |   | 116.0 |   |
| Balance at June 30, 2008                                                                 |   | $             | 313.2   |   |   | $      | 347.8   |   |   | $ | 661.0 |   |

|                                                                                                                                                                                                                                                                                                                                                                         | Six Months Ended |   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                         | June 30,         |   |   |
|                                                                                                                                                                                                                                                                                                                                                                         | 2009             |   | 2008   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                         | (In Millions)    |   |   |
|                                                                                                                                                                                                                                                                                                                                                                         |             |   |   |   |   |   |   |
| Balance at beginning of year                                                         |             | $      | 327.3  |   |   | $ | 27.5 |   |   |
| Paid guarantee benefits                                                                        |             |   | (5.1   | ) |   |   | (4.4 | ) |   |
| Other changes in reserve                                                                       |             |   | 47.5   |   |   |   | 8.7 |   |   |
| Balance at End of Period                                                             |             | $      | 369.7  |   |   | $ | 31.8 |   |   |

----

|                             |   | ReturnOfPremium       |   |   |   Ratchet |   |   |   Roll-Up |   |   |   Combo |   |   |   Total |   |
|----------------------------------|--------|-----------------------|--------|--------|----------------|--------|--------|----------------|--------|--------|--------------|--------|--------|--------------|--------|
|                             |   | (Dollars In Millions) |   |
|                             |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |
| GMDB:                            |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |
| Account values invested in:      |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |
| General Account                  |   | $                     | 11,012 |   |           | $      | 310    |           |   | $      | 362          |   |   | $            | 777    |   |   | $ | 12,461 |   |
| Separate Accounts                |   | $                     | 21,010 |   |           | $      | 5,981  |           |   | $      | 4,299        |   |   | $            | 27,210 |   |   | $ | 58,500 |   |
| Net amount at risk, gross        |   | $                     | 5,183  |   |           | $      | 2,631  |           |   | $      | 3,514        |   |   | $            | 13,209 |   |   | $ | 24,537 |   |
| Net amount at risk, net of       |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| amounts reinsured                |   | $                     | 5,183  |   |           | $      | 1,658  |           |   | $      | 2,366        |   |   | $            | 5,617  |   |   | $ | 14,824 |   |
| Average attained age of          |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| contractholders                  |   |                  | 49.5   |   |           |   | 62.0   |           |   |   | 66.2         |   |   |         | 62.1   |   |   |   | 53.3 |   |
| Percentage of contractholders    |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| over age 70                      |   |                  | 7.4    | %      |           |   | 24.3   | %              |   |   | 40.4         | %      |   |         | 22.6   | % |   |   | 12.7 | % |
| Range of contractually specified |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| interest rates                   |   |                  | N/A    |   |           |   | N/A    |           |   |   | 3%-6         | %      |   |         | 3%-6.5 | % |   |   | 3%-6.5 | % |
|                             |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| GMIB:                            |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| Account values invested in:      |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| General Account                  |   |                  | N/A    |   |           |   | N/A    |           |   | $      | 37           |   |   | $            | 1,112  |   |   | $ | 1,149 |   |
| Separate Accounts                |   |                  | N/A    |   |           |   | N/A    |           |   | $      | 2,540        |   |   | $            | 36,921 |   |   | $ | 39,461 |   |
| Net amount at risk, gross        |   |                  | N/A    |   |           |   | N/A    |           |   | $      | 1,410        |   |   | $            | 1,873  |   |   | $ | 3,283 |   |
| Net amount at risk, net of       |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| amounts reinsured                |   |                  | N/A    |   |           |   | N/A    |           |   | $      | 413          |   |   | $            | 724    |   |   | $ | 1,137 |   |
| Weighted average years           |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| remaining until annuitization    |   |                  | N/A    |   |           |   | N/A    |           |   |   | 1.3          |   |   |         | 7.4    |   |   |   | 6.8 |   |
| Range of contractually specified |   |                  |   |   |           |   |   |           |   |   |         |   |   |         |   |   |   |   |   |   |
| interest rates              |   |                  | N/A    |   |           |   | N/A    |           |   |   | 3%-6         | %      |   |         | 3%-6.5 | % |   |   | 3%-6.5 | % |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | June 30,      |   | December 31, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|--------|--------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009          |   | 2008         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |          |   |
| GMDB:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          |   |         |   |   |
| Equity                                                                                            |   | $             | 34,283 |         |   | $ | 30,428 |   |
| Fixed income                                                                                      |   |          | 3,537  |         |   |   | 3,745 |   |
| Balanced                                                                                          |   |          | 17,647 |         |   |   | 17,469 |   |
| Other                                                                                             |   |          | 3,033  |         |   |   | 2,410 |   |
| Total                                                                                             |   | $             | 58,500 |         |   | $ | 54,052 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |          |   |         |   |   |   |   |
| GMIB:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          |   |         |   |   |   |   |
| Equity                                                                                            |   | $             | 22,625 |         |   | $ | 19,138 |   |
| Fixed income                                                                                      |   |          | 2,204  |         |   |   | 2,219 |   |
| Balanced                                                                                          |   |          | 13,580 |         |   |   | 12,887 |   |
| Other                                                                                             |   |          | 1,052  |         |   |   | 1,272 |   |
| Total                                                                                             |   | $             | 39,461 |         |   | $ | 35,516 |   |

----

|                                                                                             |   | Direct        |   |   | Reinsurance |   |   |   |   |
|--------------------------------------------------------------------------------------------------|--------|---------------|--------|--------|-------------|--------|--------|--------|--------|
|                                                                                             |   | Liability     |   |   | Ceded       |   |   | Net    |   |
|                                                                                             |   | (In Millions) |   |
|                                                                                             |   |          |   |   |        |   |   |   |   |
| Balance at January 1, 2009                                                                  |   | $             | 203.0  |   |        | $      | (152.6 | )      |   | $ | 50.4 |   |
| Other changes in reserves                                                                   |   |          | 19.0   |   |        |   | (6.0   | )      |   |   | 13.0 |   |
| Balance at June 30, 2009                                                                    |   | $             | 222.0  |   |        | $      | (158.6 | )      |   | $ | 63.4 |   |
|                                                                                             |   |          |   |   |        |   |   |   |   |   |   |   |
| Balance at January 1, 2008                                              |   | $             | 135.0  |   |        | $      | (107.6 | )      |   | $ | 27.4 |   |
| Other changes in reserves                                                         |   |          | 44.0   |   |        |   | (38.0  | )      |   |   | 6.0 |   |
| Balance at June 30, 2008             |   | $             | 179.0  |   |        | $      | (145.6 | )      |   | $ | 33.4 |   |

| 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: |   |          |     |   |    |   |     |    |   |   |    |   |
| Corporate                             |   | $             | -        |   |    | $      | 17,861.1 |    |   | $      | 388.7   |   |   | $ | 18,249.8 |   |
| U.S. Treasury, government and         |   |          |     |   |    |   |     |    |   |   |    |   |   |   |   |   |
| agency                                |   |          | -        |   |    |   | 895.6    |    |   |   | -       |   |   |   | 895.6 |   |
| States and political subdivisions     |   |          | -        |   |    |   | 143.5    |    |   |   | 47.9    |   |   |   | 191.4 |   |
| Foreign governments                   |   |          | -        |   |    |   | 225.0    |    |   |   | 19.3    |   |   |   | 244.3 |   |
| Commercial mortgage-backed            |   |          | -        |   |    |   | 82.6     |    |   |   | 1,610.4 |   |   |   | 1,693.0 |   |
| Residential mortgage-backed(1)        |   |          | -        |   |    |   | 1,757.6  |    |   |   | 6.7     |   |   |   | 1,764.3 |   |
| Asset-backed(2)                  |   |          | -        |   |    |   | 177.9    |    |   |   | 223.3   |   |   |   | 401.2 |   |
| Redeemable preferred stock            |   |          | 162.3    |   |    |   | 1,096.8  |    |   |   | 2.4     |   |   |   | 1,261.5 |   |
| Subtotal                              |   |          | 162.3    |   |    |   | 22,240.1 |    |   |   | 2,298.7 |   |   |   | 24,701.1 |   |
| Other equity investments              |   |          | 64.4     |   |    |   | 12.9     |    |   |   | 1.0     |   |   |   | 78.3 |   |
| Trading securities                    |   |          | 454.4    |   |    |   | 86.5     |    |   |   | -       |   |   |   | 540.9 |   |
| Other invested assets                 |   |          | -        |   |    |   | 275.1    |    |   |   | 436.6   |   |   |   | 711.7 |   |
| Loans to affiliates                   |   |          | -        |   |    |   | 900.0    |    |   |   | -       |   |   |   | 900.0 |   |
| Cash equivalents                      |   |          | 2,392.1  |   |    |   | -        |    |   |   | -       |   |   |   | 2,392.1 |   |
| Segregated securities                 |   |          | 1,246.1  |   |    |   | -        |    |   |   | -       |   |   |   | 1,246.1 |   |
| GMIB reinsurance contracts            |   |          | -        |   |    |   | -        |    |   |   | 2,685.8 |   |   |   | 2,685.8 |   |
| Separate Accounts’ assets       |   |          | 70,674.9 |   |    |   | 1,537.4  |    |   |   | 261.8   |   |   |   | 72,474.1 |   |
| Total Assets                          |   | $             | 74,994.2 |   |    | $      | 25,052.0 |    |   | $      | 5,683.9 |   |   | $ | 105,730.1 |   |
|                                  |   |          |     |   |    |   |     |    |   |   |    |   |   |   |   |   |
| Liabilities                           |   |          |     |   |    |   |     |    |   |   |    |   |   |   |   |   |
| GWBL features’ liability        |   | $             | -        |   |    | $      | -        |    |   | $      | 123.4   |   |   | $ | 123.4 |   |
| Total Liabilities                     |   | $             | -        |   |    | $      | -        |    |   | $      | 123.4   |   |   | $ | 123.4 |   |

| (1) | Includes publicly traded agency pass-through securities and collateralized obligations. |
|-----|-----------------------------------------------------------------------------------------|

| (2) | Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. |
|-----|--------------------------------------------------------------------------------------------------------------------------|

|                                                    |   | Level 1       |     |   | Level 2 |   |     | Level 3 |   |   | Total   |   |
|---------------------------------------------------------|--------|---------------|----------|--------|---------|--------|----------|---------|--------|--------|---------|--------|
|                                                    |   | (In Millions) |
| A Assets                                                |   |          |     |   |    |   |     |    |   |   |    |   |
| In Investments:                                         |   |          |     |   |    |   |     |    |   |   |    |   |
| Fixed maturities, available for sale:                   |   | $             | 149.9    |   |    | $      | 21,256.7 |    |   | $      | 2,424.4 |   |   | $ | 23,831.0 |   |
| Other equity investments                                |   |          | 63.4     |   |    |   | -        |    |   |   | 2.0     |   |   |   | 65.4 |   |
| Trading securities                                      |   |          | 322.6    |   |    |   | -        |    |   |   | .1      |   |   |   | 322.7 |   |
| Other invested assets                                   |   |          | 31.1     |   |    |   | 419.0    |    |   |   | 547.0   |   |   |   | 997.1 |   |
|     Loans to affiliates             |   |          | -        |   |    |   | 588.3    |    |   |   | -       |   |   |   | 588.3 |   |
|     Cash equivalents                |   |          | 1,832.3  |   |    |   | -        |    |   |   | -       |   |   |   | 1,832.3 |   |
|     Segregated securities           |   |          | 2,572.6  |   |    |   | -        |    |   |   | -       |   |   |   | 2,572.6 |   |
|     GMIB reinsurance contracts      |   |          | -        |   |    |   | -        |    |   |   | 4,821.7 |   |   |   | 4,821.7 |   |
|     Separate Accounts’ assets |   |          | 66,044.4 |   |    |   | 1,248.3  |    |   |   | 334.3   |   |   |   | 67,627.0 |   |
| Total Assets                                            |   | $             | 71,016.3 |   |    | $      | 23,512.3 |    |   | $      | 8,129.5 |   |   | $ | 102,658.1 |   |
|                                                    |   |          |     |   |    |   |     |    |   |   |    |   |   |   |   |   |
|     Liabilities                          |   |          |     |   |    |   |     |    |   |   |    |   |   |   |   |   |
|     GWBL features’ liability  |   | $             | -        |   |    | $      | -        |    |   | $      | 272.6   |   |   | $ | 272.6 |   |
| Total Liabilities                                       |   | $             | -        |   |    | $      | -        |    |   | $      | 272.6   |   |   | $ | 272.6 |   |

----

----

----

|                                                                                                                                                                                 |   |   Corporate |   |   | U.S.Treasury,Govt andAgency |   |   |   ForeignGovts |   |   | State andPoliticalSub-divisions |   |   | Commer-cialMortgage-backed |   |   | Residen-tialMortgagebacked |   |    |   Asset- backed |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|-----------------------------|--------|--------|---------------------|--------|--------|---------------------------------|--------|--------|----------------------------|--------|--------|----------------------------|--------|---------|----------------------|--------|
|                                                                                                                                                                                 |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |
| Discrete second quarter:                                                                                                                                                             |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |
| Balance, April 1, 2009                                                                                                                                                               |   | $                | 425.0  |   |                        | $      | -      |                |   | $      | 17.7                            |   |   | $                          | 50.0   |   |                       | $      | 1,457.5 |                 |   | $ | 7.2 |   |   | $ | 278.6 |   |
| Total gains (losses),                                                                                                                                                                |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| realized and unrealized,                                                                                                                                                             |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| included in:                                                                                                                                                                         |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| Earnings as:                                                                                                                                                                         |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| Net investment income                                                                                                                                                                |   |             | .1     |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | .8      |                 |   |   | - |   |   |   | (.3 | ) |
| Investment gains                                                                                                                                                                     |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| (losses), net                                                                                                                                                                   |   |             | 1.8    |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | -       |                 |   |   | - |   |   |   | (9.8 | ) |
| (Decrease) increase                                                                                                                                                                  |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| in the fair value of the                                                                                                                                                             |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| reinsurance contracts                                                                                                                                                                |   |             | -      |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | -       |                 |   |   | - |   |   |   | - |   |
| Subtotal                                 |   |             | 1.9    |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | .8      |                 |   |   | - |   |   |   | (10.1 | ) |
| Other comprehensive                                                                                                                                                                  |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| income                              |   |             | 14.6   |   |                        |   | -      |                |   |   | 1.6                             |   |   |                       | (1.9   | )      |                       |   | 164.5   |                 |   |   | (.5 | ) |   |   | 4.4 |   |
| Purchases/issuances and                                                                                                                                                              |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| sales/settlements, net                                                                                                                                                               |   |             | (17.8  | )      |                        |   | -      |                |   |   | -                               |   |   |                       | (.2    | )      |                       |   | (12.4   | )                    |   |   | - |   |   |   | (18.0 | ) |
| Transfers into/out of                                                                                                                                                                |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| Level 3(2)                                                                                                                                                                      |   |             | (35.0  | )      |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | -       |                 |   |   | - |   |   |   | (31.6 | ) |
| Balance, June 30, 2009                                                                                                                                                               |   | $                | 388.7  |   |                        | $      | -      |                |   | $      | 19.3                            |   |   | $                          | 47.9   |   |                       | $      | 1,610.4 |                 |   | $ | 6.7 |   |   | $ | 223.3 |   |
|                                                                                                                                                                                 |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| First six months of 2009:                                                                                                                                                            |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| Balance, January 1, 2009                                                                                                                                                             |   | $                | 416.7  |   |                        | $      | -      |                |   | $      | 64.0                            |   |   | $                          | 55.4   |   |                       | $      | 1,567.9 |                 |   | $ | 7.4 |   |   | $ | 310.4 |   |
| Total gains (losses),                                                                                                                                                                |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| realized and unrealized,                                                                                                                                                             |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| included in:                                                                                                                                                                         |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| Earnings as:                                                                                                                                                                         |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| Net investment income                                                                                                                                                                |   |             | .6     |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | 1.5     |                 |   |   | - |   |   |   | (.7 | ) |
| Investment gains                                                                                                                                                                     |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| (losses), net                                                                                                                                                                   |   |             | 1.8    |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | -       |                 |   |   | - |   |   |   | (14.5 | ) |
| (Decrease) increase                                                                                                                                                                  |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| in the fair value of the                                                                                                                                                             |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| reinsurance contracts                                                                                                                                                                |   |             | -      |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | -       |                 |   |   | - |   |   |   | - |   |
| Subtotal                                                                                                                                                                        |   |             | 2.4    |   |                        |   | -      |                |   |   | -                               |   |   |                       | -      |   |                       |   | 1.5     |                 |   |   | - |   |   |   | (15.2 | ) |
| Other comprehensive                                                                                                                                                                  |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| income                                                                                                                                                                               |   |             | 9.9    |   |                        |   | -      |                |   |   | 1.1                             |   |   |                       | (9.0   | )      |                       |   | 57.5    |                 |   |   | (.5 | ) |   |   | (2.4 | ) |
| Purchases/issuances and                                                                                                                                                              |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| sales/settlements, net                                                                                                                                                               |   |             | (14.6  | )      |                        |   | -      |                |   |   | .8                              |   |   |                       | 1.5    |   |                       |   | (16.5   | )                    |   |   | (.2 | ) |   |   | (37.3 | ) |
| Transfers into/out of                                                                                                                                                                |   |             |   |   |                        |   |   |                |   |   |                            |   |   |                       |   |   |                       |   |    |                 |   |   |   |   |   |   |   |   |
| Level 3(2)                                                                                                                                                                 |   |             | (25.7  | )      |                        |   | -      |                |   |   | (46.6                           | )      |   |                       | -      |   |                       |   | -       |                 |   |   | - |   |   |   | (32.2 | ) |
| Balance, June 30, 2009                                                                                                                                                               |   | $                | 388.7  |   |                        | $      | -      |                |   | $      | 19.3                            |   |   | $                          | 47.9   |   |                       | $      | 1,610.4 |                 |   | $ | 6.7 |   |   | $ | 223.3 |   |

----

|                                                                                                                                                                                                             |   |   Redeem-ablePreferredStock |    |   |   OtherEquityInvestments(1) |   |   |   OtherInvestedAssets |   |   |   GMIBReinsuranceAsset |   |   |   SeparateAccountsAssets |     |   |   GWBLFeaturesLiability |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|----------------------------------|--------|--------|----------------------------|--------|--------|-----------------------------|--------|--------|-------------------------------|----------|--------|------------------------------|--------|
| Discrete second quarter:                                                                                                                                                                                         |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |
| Balance, April 1, 2009                                                                                                                                                                                           |   | $                                | 2.4     |   |                             | $      | 2.0    |                       |   | $      | 433.1                       |   |   | $                             | 3,883.9  |   |                         | $      | 300.1 |   |   | $ | 260.1 |   |
| Total gains (losses),                                                                                                                                                                                            |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| realized and unrealized,                                                                                                                                                                                         |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| included in:                                                                                                                                                                                                     |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Earnings as:                                                                                                                                                                                                     |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Net investment income                                                                                                                                                                                            |   |                             | -       |   |                             |   | -      |                       |   |   | (20.9                       | )      |   |                          | -        |   |                         |   | (36.7 | )  |   |   | - |   |
| Investment gains                                                                                                                                                                                                 |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| (losses), net                                                                                                                                                                                     |   |                             | -       |   |                             |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | - |   |
| (Decrease) increase                                                                                                                                                                                              |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| in the fair value of the                                                                                                                                                                                         |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| reinsurance contracts                                                                                                                                                                                            |   |                             | -       |   |                             |   | -      |                       |   |   | -                           |   |   |                          | (1,251.4 | )      |                         |   | - |   |   |   | - |   |
| Policyholders’ benefits                                                                                                                                                                                    |   |                             |  - |   |                             |   | -      |                       |   |   | -                           |   |   |                          | -   |   |                         |   | - |   |   |   | (139.7 | ) |
| Subtotal                                                   |   |                             | -       |   |                             |   | -      |                       |   |   | (20.9                       | )      |   |                          | (1,251.4 | )      |                         |   | (36.7 | ) |   |   | (139.7 | ) |
| Other comprehensive                                                                                                                                                                                              |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| income                                                |   |                             | -       |   |                             |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | - |   |
| Purchases/issuances and                                                                                                                                                                                          |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| sales/settlements, net                                                                                                                                                                                           |   |                             | -       |   |                             |   | (.8    | )                          |   |   | 24.4                        |   |   |                          | 53.3     |   |                         |   | (1.6 | ) |   |   | 3.0 |   |
| Transfers into/out of                                                                                                                                                                                            |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Level 3(2)                                  |   |                             | -       |   |                             |   | (.2    | )                          |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | - |   |
| Balance, June 30, 2009                                                                                                                                                                                           |   | $                                | 2.4     |   |                             | $      | 1.0    |                       |   | $      | 436.6                       |   |   | $                             | 2,685.8  |   |                         | $      | 261.8 |   |   | $ | 123.4 |   |
|                                                                                                                                                                                                             |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| First six months of 2009:                                                                                                                                                                                        |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Balance, January 1, 2009                                                                                                                                                                                         |   | $                                | 2.4     |   |                             | $      | 2.1    |                       |   | $      | 547.0                       |   |   | $                             | 4,821.6  |   |                         | $      | 334.3 |   |   | $ | 272.6 |   |
| Total gains (losses),                                                                                                                                                                                            |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| realized and unrealized,                                                                                                                                                                                         |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| included in:                                                                                                                                                                                                     |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Earnings as:                                                                                                                                                                                                     |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Net investment income                                                                                                                                                                                            |   |                             | -       |   |                             |   | -      |                       |   |   | (159.5                      | )      |   |                          | -        |   |                         |   | (69.0 | ) |   |   | - |   |
| Investment gains                                                                                                                                                                                                 |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| (losses), net                                                                                                                                                                                                    |   |                             | -       |   |                             |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | - |   |
| (Decrease) increase                                                                                                                                                                                              |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| in the fair value of the                                                                                                                                                                                         |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| reinsurance contracts                                                                                                                                                                                            |   |                             | -       |   |                             |   | -      |                       |   |   | -                           |   |   |                          | (2,233.9 | )      |                         |   | - |   |   |   | - |   |
| Policyholders’ benefits                                                                                                                                                                                    |   |                             | -       |   |                             |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | (154.1 | ) |
| Subtotal                                                                                                                                                                 |   |                             | -       |   |                             |   | -      |                       |   |   | (159.5                      | )      |   |                          | (2,233.9 | )      |                         |   | (69.0 | ) |   |   | (154.1 | ) |
| Other comprehensive                                                                                                                                                                                              |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| income                                                                                                                                                    |   |                             | -       |   |                             |   | (.2    | )                          |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | - |   |
| Purchases/issuances and                                                                                                                                                                                          |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| sales/settlements, net                                                                                                                                                                                           |   |                             | -       |   |                             |   | (.9    | )                          |   |   | 49.1                        |   |   |                          | 98.1     |   |                         |   | (4.4 | ) |   |   | 4.9 |   |
| Transfers into/out of                                                                                                                                                                                            |   |                             |    |   |                             |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Level 3(2)                                                                                                                                                                                             |   |                             | -       |   |                             |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | .9 |   |   |   | - |   |
| Balance, June 30, 2009                                                                                                                                                                                           |   | $                                | 2.4     |   |                             | $      | 1.0    |                       |   | $      | 436.6                       |   |   | $                             | 2,685.8  |   |                         | $      | 261.8 |   |   | $ | 123.4 |   |

----

|                                                                                                                                                                                                                                    |   | Fixed      |    |   |                 |   |   |     |   |   |        |   |   |     |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|---------|--------|----------------------|--------|--------|----------|--------|--------|-------------|--------|--------|----------|--------|
|                                                                                                                                                                                                                                    |   | Maturities |    |   | Other                |   |   | Other    |   |   | GMIB        |   |   | Separate |   |
|                                                                                                                                                                                                                                    |   | Available  |    |   | Equity               |   |   | Invested |   |   | Reinsurance |   |   | Accounts |   |
|                                                                                                                                                                                                                                    |   | For Sale   |    |   |  Investments(1) |   |   | Assets   |   |   | Asset       |   |   | Assets   |   |
|                                                                                                                                                                                                                                    |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |
| Discrete second quarter:                                                                                                                                                                                                                |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |
| Balance, April 1, 2008                                                                                                                                                                                                                  |   | $          | 2,169.9 |   |                 | $      | 2.3    |     |   | $      | 291.2       |   |   | $        | 530.9  |   |   | $ | 27.3 |   |
| Total gains (losses),                                                                                                                                                                                                                   |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| realized and unrealized,                                                                                                                                                                                                                |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| included in:                                                                                                                                                                                                                            |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
|     Earnings as:                                                                                                                                                                                                         |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| Net investment income                                                                                                                                                                                                                   |   |       | .9      |   |                 |   | (.4    | )        |   |   | (124.4      | )      |   |     | -      |   |   |   | .6 |   |
| Investment gains                                                                                                                                                                                                                        |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| (losses), net                                                                               |   |       | (29.7   | )      |                 |   | -      |     |   |   | -           |   |   |     | -      |   |   |   | - |   |
| (Decrease) increase in                                                                                                                                                                                                                  |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| the fair value of the                                                                                                                                                                                                                   |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| reinsurance contracts                                                                                                                                                                                                                   |   |       | -       |   |                 |   | -      |     |   |   | -           |   |   |     | (235.3 | ) |   |   | - |   |
| Subtotal                                                                                                                  |   |       | (28.8   | )      |                 |   | (.4    | )        |   |   | (124.4      | )      |   |     | (235.3 | ) |   |   | .6 |   |
| Other comprehensive                                                                                                                                                                                                                     |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| income                                                                            |   |       | 14.7    |   |                 |   | -      |     |   |   | -           |   |   |     | -      |   |   |   | - |   |
| Purchases/issuances and                                                                                                                                                                                                                 |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |
| sales/settlements, net                                                                                                                                                                                                                  |   |       | 11.9    |   |                 |   | (.2    | )        |   |   | 9.1         |   |   |     | 14.5   |   |   |   | (1.6 | ) |
| Transfers into/out of                                                                                                                                                                                                                   |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| Level 3(2)                                               |   |       | 44.9    |   |                 |   | -      |     |   |   | -           |   |   |     | -      |   |   |   | - |   |
| Balance, June 30, 2008                                                                                                                                                                                                                  |   | $          | 2,212.6 |   |                 | $      | 1.7    |     |   | $      | 175.9       |   |   | $        | 310.1  |   |   | $ | 26.3 |   |
|                                                                                                                                                                                                                                    |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| First half of 2008:                                                                                                                                                                                                                     |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| Balance, Dec. 31, 2007                                                                                                                                                                                                                  |   | $          | 2,503.4 |   |                 | $      | 3.0    |     |   | $      | 160.9       |   |   | $        | 124.7  |   |   | $ | 40.8 |   |
| Impact of adopting                                                                                                                                                                                                                      |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| SFAS No. 157, included                                                                                                                                                                                                                  |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| in earnings                                                             |   |       | -       |   |                 |   | -      |     |   |   | -           |   |   |     | 210.6  |   |   |   | - |   |
| Balance, Jan. 1, 2008                                    |   |       | 2,503.4 |   |                 |   | 3.0    |     |   |   | 160.9       |   |   |     | 335.3  |   |   |   | 40.8 |   |
| Total gains (losses),                                                                                                                                                                                                                   |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| realized and unrealized,                                                                                                                                                                                                                |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| included in:                                                                                                                                                                                                                            |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
|     Earnings as:                                                                                                                                                                                                         |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| Net investment income                                                                                                                                                                                                                   |   |       | 1.6     |   |                 |   | -      |     |   |   | 5.9         |   |   |     | -      |   |   |   | (4.8 | )  |
| Investment gains                                                                                                                                                                                                                        |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| (losses), net                                                                               |   |       | (45.2   | )      |                 |   | (1.1   | )        |   |   | -           |   |   |     | -      |   |   |   | - |   |
| (Decrease) increase                                                                                                                                                                                                                     |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| in the fair value of the                                                                                                                                                                                                                |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| reinsurance contracts                                                                                                                                                                                                                   |   |       | -       |   |                 |   | -      |     |   |   | -           |   |   |     | (54.8  | ) |   |   | - |   |
| Subtotal                                                                                                                  |   |       | (43.6   | )      |                 |   | (1.1   | )        |   |   | 5.9         |   |   |     | (54.8  | ) |   |   | (4.8 | ) |
| Other comprehensive                                                                                                                                                                                                                     |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| income                                                                            |   |       | (332.9  | )      |                 |   | -      |     |   |   | -           |   |   |     | -      |   |   |   | - |   |
| Purchases/issuances and                                                                                                                                                                                                                 |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| sales/settlements, net                                                                                                                                                                                                                  |   |       | (8.5    | )      |                 |   | (.2    | )        |   |   | 9.1         |   |   |     | 29.6   |   |   |   | (9.7 | ) |
| Transfers into/out of                                                                                                                                                                                                                   |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |
| Level 3(2)                                                              |   |       | 94.2    |   |                 |   | -      |     |   |   | -           |   |   |     | -      |   |   |   | - |   |
| Balance, June 30, 2008                                                                                                                                                                                                                  |   | $          | 2,212.6 |   |                 | $      | 1.7    |     |   | $      | 175.9       |   |   | $        | 310.1  |   |   | $ | 26.3 |   |
|                                                                                                                                                                                                                                    |   |       |    |   |                 |   |   |     |   |   |        |   |   |     |   |   |   |   |   |   |

----

|                            |   | 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             |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Second Quarter 2009             |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Still Held at June 30, 2009:    |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Change in unrealized gains      |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| or losses:                      |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Fixed maturities,               |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| available for sale:             |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Corporate                       |   | $             | -      |   |       | $      | -      |          |   | $ | - |   |   | $ | 6.5 |   |   | $ | - |   |
| U.S. Treasury, government       |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| and agency                      |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| State and political             |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| subdivisions                    |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (1.9 | ) |   |   | - |   |
| Foreign governments             |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | 1.6 |   |   |   | - |   |
| Commercial                      |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage-backed                 |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | 156.5 |   |   |   | - |   |
| Residential                     |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage-backed                 |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (.5 | ) |   |   | - |   |
| Asset-backed                    |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (8.5 | ) |   |   | - |   |
| Redeemable preferred stock      |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Subtotal                        |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | 153.7 |   |   |   | - |   |
| Equity securities,              |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| available for sale              |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Other equity investments        |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (.4 | ) |   |   | - |   |
| Other invested assets           |   |          | (110.4 | )      |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash equivalents                |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Segregated securities           |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| GMIB reinsurance contracts      |   |          | -      |   |       |   | -      |          |   |   | (1,251.4 | ) |   |   | - |   |   |   | - |   |
| Separate Accounts’ assets |   |          | (36.7  | )      |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| GWBL features’ liability  |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | (139.7 | ) |
| Total                           |   | $             | (147.1 | )      |       | $      | -      |          |   | $ | (1,251.4 | ) |   | $ | 153.3 |   |   | $ | (139.7 | ) |
|                            |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                            |   | 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             |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| First Six Months of 2009        |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Still Held at June 30, 2009:    |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Change in unrealized gains      |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| or losses:                      |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Fixed maturities,               |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| available for sale:             |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |
| Corporate                       |   | $             | -      |   |       | $      | -      |          |   | $ | - |   |   | $ | .9 |   |   | $ | - |   |
| U.S. Treasury, government       |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| and agency                      |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| State and political             |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| subdivisions                    |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (8.9 | ) |   |   | - |   |
| Foreign governments             |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | 1.1 |   |   |   | - |   |
| Commercial                      |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage-backed                 |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | 49.5 |   |   |   | - |   |
| Residential                     |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage-backed                 |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (.5 | ) |   |   | - |   |
| Asset-backed                    |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (15.3 | ) |   |   | - |   |
| Redeemable preferred stock      |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Subtotal                        |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | 26.8 |   |   |   | - |   |
| Equity securities,              |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |
| available for sale              |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Other equity investments        |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | (.1 | ) |   |   | - |   |
| Other invested assets           |   |          | (110.4 | )      |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash equivalents                |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| Segregated securities           |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| GMIB reinsurance contracts      |   |          | -      |   |       |   | -      |          |   |   | (2,233.9 | ) |   |   | - |   |   |   | - |   |
| Separate Accounts’ assets |   |          | (69.0  | )      |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |
| GWBL features’ liability  |   |          | -      |   |       |   | -      |          |   |   | - |   |   |   | - |   |   |   | (154.1 | ) |
| Total                           |   | $             | (179.4 | )      |       | $      | -      |          |   | $ | (2,233.9 | ) |   | $ | 26.7 |   |   | $ | (154.1 | ) |
|                            |   |          |   |   |       |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                             |   | Earnings      |   |   |       |   |
|----------------------------------|--------|---------------|--------|--------|------------|--------|
|                             |   |          |   |   | Investment |   |   | Change in |   |   | Other |   |
|                             |   | Net           |   |   | Gains      |   |   | Fair Value of |   |   | Compre- |   |
|                             |   | Investment    |   |   | (Losses),  |   |   | Reinsurance |   |   | hensive |   |
|                             |   | Income        |   |   | Net        |   |   | Contracts |   |   | Income |   |
|                             |   | (In Millions) |   |
| Level 3 Instruments:             |   |          |   |   |       |   |   |   |   |   |   |   |
| Second Quarter 2008              |   |          |   |   |       |   |   |   |   |   |   |   |
| Still Held at June 30, 2008:     |   |          |   |   |       |   |   |   |   |   |   |   |
| Change in unrealized gains       |   |          |   |   |       |   |   |   |   |   |   |   |
| or losses:                       |   |          |   |   |       |   |   |   |   |   |   |   |
| Fixed maturities,                |   |          |   |   |       |   |   |   |   |   |   |   |
| available for sale               |   | $             | -      |   |       | $      | - |   |   | $ | - |   |   | $ | 14.0 |   |
| Other equity investments         |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| Other invested assets            |   |          | (115.3 | )      |       |   | - |   |   |   | - |   |   |   | - |   |
| Cash equivalents                 |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| Segregated securities            |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| GMIB reinsurance contracts       |   |          | -      |   |       |   | - |   |   |   | (235.3 | ) |   |   | - |   |
| Separate Accounts’ assets  |   |          | .6     |   |       |   | - |   |   |   | - |   |   |   | - |   |
| GWBL features’ liabilities |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| Total                            |   | $             | (114.7 | )      |       | $      | - |   |   | $ | (235.3 | ) |   | $ | 14.0 |   |
|                             |   |          |   |   |       |   |   |   |   |   |   |   |   |   |   |   |
| First Six Months of 2008         |   |          |   |   |       |   |   |   |   |   |   |   |   |   |   |   |
| Still Held at June 30, 2008:     |   |          |   |   |       |   |   |   |   |   |   |   |   |   |   |   |
| Change in unrealized gains       |   |          |   |   |       |   |   |   |   |   |   |   |   |   |   |   |
| or losses:                       |   |          |   |   |       |   |   |   |   |   |   |   |   |   |   |   |
| Fixed maturities,                |   |          |   |   |       |   |   |   |   |   |   |   |   |   |   |   |
| available for sale               |   | $             | -      |   |       | $      | - |   |   | $ | - |   |   | $ | (332.5 | ) |
| Other equity investments         |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| Other invested assets            |   |          | 15.0   |   |       |   | - |   |   |   | - |   |   |   | - |   |
| Cash equivalents                 |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| Segregated securities            |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| GMIB reinsurance contracts       |   |          | -      |   |       |   | - |   |   |   | (54.8 | ) |   |   | - |   |
| Separate Accounts’ assets  |   |          | (4.1   | )      |       |   | - |   |   |   | - |   |   |   | - |   |
| GWBL features’ liability   |   |          | -      |   |       |   | - |   |   |   | - |   |   |   | - |   |
| Total                            |   | $             | 10.9   |   |       | $      | - |   |   | $ | (54.8 | ) |   | $ | (332.5 | ) |

----

|                                                                                                                                                                                                                                                                                                         |   | Carrying      |    |   |       |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|---------|--------|------------|--------|
|                                                                                                                                                                                                                                                                                                         |   | Value         |    |   | Fair Value |   |
|                                                                                                                                                                                                                                                                                                         |   | (In Millions) |    |
|                                                                                                                                                                                                                                                                                                         |   |          |    |   |       |   |
| Consolidated:                                                                                                                                                                                                                                                                                                |   |          |    |   |       |   |
| Mortgage loans on real estate                                                                                                                                                                                                                                                                                |   | $             | 3,621.2 |   |       | $      | 3,499.3 |   |
| Other limited partnership interests                                                                                                                                                                                                                                                                          |   |          | 1,234.2 |   |       |   | 1,234.2 |   |
| Policyholders liabilities:                                                                                                                                                                                                                                                                                   |   |          |    |   |       |   |   |   |
| Investment contracts                                                                  |   |          | 2,879.8 |   |       |   | 2,853.4 |   |
| Long-term debt                                                         |   |          | 199.9   |   |       |   | 199.9 |   |
|                                                                                                                                                                                                                                                                                                         |   |          |    |   |       |   |   |   |
| Closed Block:                                                                                                                                                                                                                                                                                                |   |          |    |   |       |   |   |   |
| Mortgage loans on real estate                                                                                                                                                                                                                                                                                |   |          | 1,080.7 |   |       |   | 1,052.8 |   |
| Other equity investments                                               |   |          | 1.6     |   |       |   | 1.6 |   |
| SCNILC liability                                                       |   |          | 8.2     |   |       |   | 8.2 |   |
|                                                                                                                                                                                                                                                                                                         |   |          |    |   |       |   |   |   |
| Wind-up Annuities:                                                                                                                                                                                                                                                                                           |   |          |    |   |       |   |   |   |
| Mortgage loans on real estate                                                                                                                                                                                                                                                                                |   |          | 151.1   |   |       |   | 151.1 |   |
| Other equity investments                                               |   |          | 1.3     |   |       |   | 1.3 |   |
| Guaranteed interest contracts                                                                                                                                                                                                                                                                                |   |          | 5.5     |   |       |   | 6.2 |   |

----

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

|                                  | Three Months Ended |   | Six Months Ended |
|---------------------------------------|--------------------|--------|------------------|
|                                  | June 30,           |   | June 30,         |
|                                  | 2009               |   | 2008             |   | 2009 | 2008 |
|                                  | (In Millions)      |
| Service cost                     | $                  | 10.4   |             |   | $ | 10.0 |   |   | $ | 20.7 |   |   | $ | 20.0 |   |
| Interest cost on projected benefit    |               |   |             |   |   |   |   |   |   |   |   |   |   |   |   |
| obligation             |               | 33.9   |             |   |   | 33.4 |   |   |   | 67.9 |   |   |   | 66.9 |   |
| Expected return on assets   |               | (32.1  | )                |   |   | (49.0 | ) |   |   | (64.2 | ) |   |   | (97.9 | ) |
| Net amortization and deferrals        |               | 23.3   |             |   |   | 9.1 |   |   |   | 46.6 |   |   |   | 18.6 |   |
| Net Periodic Pension Expense          | $                  | 35.5   |             |   | $ | 3.5 |   |   | $ | 71.0 |   |   | $ | 7.6 |   |

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

----

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

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

----

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

|                                    | Three Months Ended |   | Six Months Ended |   |
|-----------------------------------------|--------------------|--------|------------------|--------|
|                                    | June 30,           |   | June 30,         |   |
|                                    | 2009               |   | 2008             |   | 2009 |   | 2008 |   |
|                                    | (In Millions)      |   |
|                                    |               |   |
|                                    |               |   |             |   |   |   |   |   |   |   |   |   |
| Segment revenues:                       |               |   |             |   |   |   |   |   |   |   |   |   |
| Insurance      |               | $      | (1,753.4         | )      |   | $ | 1,348.8 |   |   | $ | (1,031.0 | ) |   | $ | 4,117.4 |   |
| Investment Management (1)               |               |   | 727.8            |   |   |   | 1,073.7 |   |   |   | 1,331.8 |   |   |   | 2,109.1 |   |
| Consolidation/elimination          |               |   | (8.2             | )      |   |   | (21.2 | ) |   |   | (14.3 | ) |   |   | (42.6 | ) |
| Total Revenues                     |               | $      | (1,033.8         | )      |   | $ | 2,401.3 |   |   | $ | 286.5 |   |   | $ | 6,183.9 |   |
|                                    |               |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |

| (1)   | Net of interest expense incurred on securities borrowed |
|-----------------|---------------------------------------------------------|

| Segment (loss) earnings from continuing |   |   |     |   |   |   |   |   |   |   |     |   |
|-----------------------------------------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|----------|--------|
| operations before income taxes:         |   |   |     |   |   |   |   |   |   |   |     |   |
| Insurance                          |   | $      | (2,193.0 | )      |   | $      | 609.2  |   |   | $      | (2,731.5 | )      |   | $ | 1,399.8 |   |
| Investment Management              |   |   | 129.0    |   |   |   | 337.2  |   |   |   | 158.5    |   |   |   | 608.4 |   |
| Consolidation/elimination               |   |   | .6       |   |   |   | -      |   |   |   | .6       |   |   |   | (.5 | ) |
| Total (Loss) Earnings from Continuing   |   |   |     |   |   |   |   |   |   |   |     |   |   |   |   |   |
| Operations before Income                |   |   |     |   |   |   |   |   |   |   |     |   |   |   |   |   |
| Taxes                              |   | $      | (2,063.4 | )      |   | $      | 946.4  |   |   | $      | (2,572.4 | )      |   | $ | 2,007.7 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          |      |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | June 30, 2009 |      |   | December 31, 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | (In Millions) |      |
| Segment assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |          |      |   |   |   |
| Insurance                                                                                                 |   | $             | 126,579.9 |   |   | $ | 123,757.3 |   |
| Investment Management                                                                                     |   |          | 11,114.9  |   |   |   | 12,520.2 |   |
| Consolidation/elimination                                                                                 |   |          | (34.3     | ) |   |   | (11.2 | ) |
| Total Assets                                                                                              |   | $             | 137,660.5 |   |   | $ | 136,266.3 |   |

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

----

| 14)   | COMPREHENSIVE (LOSS ) INCOME |
|-----------------|------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                        |   | Three Months Ended |     |   | Six Months Ended |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                        |   | June 30,           |     |   | June 30,         |   |
|                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |     |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                        |   | (In Millions)      |     |
|                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |
| Net (loss) earnings                                                                 |   | $                  | (1,263.1 | )      |             | $      | 688.0 |   |   | $ | (1,560.7 | ) |   | $ | 1,427.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive income (loss),                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| net of income taxes                                                                                                                                                                                                                                                                                                                                                         |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Change in unrealized losses, net of                                                                                                                                                                                                                                                                                                                                         |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| reclassification adjustment                                                                                                           |   |               | 748.1    |   |             |   | (232.7 | ) |   |   | 478.9 |   |   |   | (521.7 | ) |
| Changes in defined benefit plan                                                                                                                                                                                                                                                                                                                                             |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| related items, net of                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| reclassification adjustment                                                                                                           |   |               | (19.5    | )      |             |   | 5.9 |   |   |   | (21.1 | ) |   |   | 12.0 |   |
| Total other comprehensive income (loss),                                                                                                                                                                                                                                                                                                                                    |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| net of income taxes                                                                                     |   |               | 728.6    |   |             |   | (226.8 | ) |   |   | 457.8 |   |   |   | (509.7 | ) |
| Comprehensive (loss) income                                                         |   |               | (534.5   | )      |             |   | 461.2 |   |   |   | (1,102.9 | ) |   |   | 917.8 |   |
| Comprehensive loss (income) attributable                                                                                                                                                                                                                                                                                                                          |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| to noncontrolling interest                                                                                                  |   |               | 32.9     |   |             |   | (2.4 | ) |   |   | 35.8 |   |   |   | 1.8 |   |
| Comprehensive (Loss) Income                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Attributable to AXA Equitable                                                                           |   | $                  | (501.6   | )      |             | $      | 458.8 |   |   | $ | (1,067.1 | ) |   | $ | 919.6 |   |

----

| ·   | GMIB reinsurance contracts.  GMIB reinsurance contracts are used to cede to affiliated and non-affiliated reinsurers a portion of the exposure on variable annuity products that offer the GMIB feature.  Under U.S. GAAP, the GMIB reinsurance contractsceded to reinsurers are accounted for as derivatives and are reported at fair value.  Gross reserves for GMIB, on the other hand, are calculated under U.S. GAAP on the basis of assumptions related to projected benefits and related contract charges over the lives of the contracts and therefore will not immediately reflect the offsetting impact on future claims exposure resulting from the same capital markets and/or interest rate fluctuations that cause gains or losses on the fair value of the GMIBreinsurance contracts.  Because the changes in the fair value of the GMIB reinsurance contracts are recorded in the period in which they occur while offsetting changes in gross reserves for GMIB will be recognized over time, earnings will tend to be more volatile, particularly during periods in which equity markets and/or interest rates change significantly. This was the case in second quarter 2009 as the significant increasein long-term interest rates caused a decline in the fair value of the reinsurance contracts, which was not fully offset by the change in the gross reserves, contributing to the significant loss for the period. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Hedging programs.  Hedging programs are used to hedge certain risks associated with the VA Guarantee Features.  These programs currently utilize various derivative instruments that are managed in an effort to reduce the economic impact of unfavorablechanges in VA Guarantee Features’ exposures attributable to movements in the equity markets and interest rates.  Although these programs are designed to provide a measure of economic protection against the impact adverse market conditions may have with respect to VA Guarantee Features, they do not qualify for hedge accounting treatment under U.S. GAAP, meaning that, as in the case with the GMIB reinsurance contracts, changes in the value of the derivatives will be recognized in the periodin which they occur while offsetting changes in reserves will be recognized over time, which contributes to earnings volatility. This was the case in second quarter 2009, as significant increases in equity markets and long-term interest rates caused a decline in the fair value of derivatives used in these hedging programs, which was not fully offset by the change in the gross reserves, contributing to the significant loss for the period. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                             |                      |   |         | Year ended |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------|--------|--------------|------------|
|                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended June 30, |   | December 31, |
|                                                                                                                                                                                                                                                                                                                                                                                             | 2009                      |   | 2008         |       | 2008 |
|                                                                                                                                                                                                                                                                                                                                                                                             | (In Millions)             |
|                                                                                                                                                                                                                                                                                                                                                                                             |                      |   |         |       |   |   |   |   |   |
| Decrease (increase) in GMDB, GMIB and GWBL                                                                                                                                                                                                                                                                                                                                                       |                      |   |         |       |   |   |   |   |   |
| reserves, net of related GMDB reinsurance (1)                                                                                                                                                                                                                                                                                                                                                    |                      | $      | 456.3        |       |   | $ | (88.5 | ) |   | $ | (2,612.0 | ) |
| (Decrease) increase in fair value of                                                                                                                                                                                                                                                                                                                                                             |                      |   |         |       |   |   |   |   |   |   |   |   |
| GMIB reinsurance contracts (2)                                                            |                      |   | (719.9       | )          |   |   | 184.8 |   |   |   | 1,860.7 |   |
| (Losses) gains on free-standing derivatives (3)                                                                                                                                                                                                                                                                                                                                                  |                      |   | (4,095.5     | )          |   |   | 552.1 |   |   |   | 6,753.5 |   |
| Total                                                                      |                      | $      | (4,359.1     | )          |   | $ | 648.4 |   |   | $ | 6,002.2 |   |

| (1)     | Reported in Policyholders’ benefits in the consolidated statement of earnings |
|------------------------|-------------------------------------------------------------------------------------|

| (2)     | Reported in (Decrease) increase in fair value of reinsurance contracts in the consolidated statement of earnings |
|------------------------|------------------------------------------------------------------------------------------------------------------|

| (3)     | Reported in Net investment (loss) income in the consolidated statement of earnings |
|------------------------|------------------------------------------------------------------------------------|

----

----

----

----

| ·   | features and pricing of various products, including but not limited to variable annuity products, continue to change rapidly, in response to changing customer preferences, company risk appetites, capital utilization and other factors, |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | various insurance companies, including one or more in the Insurance Group, have eliminated and/or limited sales of certain annuity and life insurance products or features, and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | overall industry sales of  variable annuity and life insurance products have declined, in some cases substantially, due in part to changing customer preferences, a phenomenon also observed following previous periods of significant market decline and/or volatility. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | June 30, |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |     | 2009    |   |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |     |    |   |   |   |   |   |
| Third party                                                                                                                       |   | $        | 394,830 |   |   | $ | 657,322 |   |
| General Account and other                                                                                                         |   |     | 51,574  |   |   |   | 49,583 |   |
| Insurance Group Separate Accounts                                                                                                 |   |     | 72,516  |   |   |   | 89,427 |   |
| Total Assets Under Management                                                                                                     |   | $        | 518,920 |   |   | $ | 796,332 |   |

----

----

|  Item 3.  | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|---------------------|------------------------------------------------------------|
|                |                                                       |

|  Item 4(T).  | CONTROLS AND PROCEDURES |
|------------------------|-------------------------|
|                   |                    |

----

|  PART II  | OTHER INFORMATION |
|---------------------|-------------------|
|                |              |

|  Item 1.  | Legal Proceedings                                                                                                                                                                                                                                                                                                       |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                |                                                                                                                                                                                                                                                                                                                    |
|                | See Note 11 of Notes to Consolidated Financial Statements contained herein.  Except as disclosed in Note 11 of Notes to Consolidated Financial Statements, there have been no new material legal proceedings and no new material developments in legal proceedings previously reported in the 2008 Form 10-K. |

|  Item 1A. | Risk Factors                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|           | There have been no material changes to the risk factors described in Part I, Item 1A, “Risk Factors,” of the 2008 Form 10-K. except as noted below:In 2007 and again in 2009, Congress proposed tax legislation that would cause certain publicly-traded partnerships (“PTPs”) to be taxed as corporations, thus subjecting their income to a higher level of income tax.  AllianceBernstein Holding is a PTP that derives its income from asset manager or investment managementservices through its ownership interest in AllianceBernstein.  However, the legislation, in the form proposed, would not affect AllianceBernstein Holding’s tax status.  In addition, AllianceBernstein continues to receive consistent indications from a number of individuals involved in the legislative process that AllianceBernstein Holding’s tax status is not the focus of the proposed legislation, and that no change to that approach is expected.  However, AllianceBernstein’smanagement cannot predict whether, or in what form, the proposed tax legislation will pass, and is unable to determine what effect any new legislation might have on AllianceBernstein.  If AllianceBernstein Holding were to lose its Federal tax status as a grandfathered PTP, it would be subject to corporate income tax, which would reduce materially its net income and quarterly distributions to AllianceBernstein Holding unitholders.In its current form, the proposed legislation would not affect AllianceBernstein because it is a private partnership. |

| 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 of 2002       |
|   |   |       |   |                                                                                                                            |

----

| Date:  | August 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:  | August 11, 2009 |   |   | /s/ Alvin H. Fenichel   |
|   |            |   |   | Name:                   | Alvin H. Fenichel |
|   |            |   |   | Title:                  | Senior Vice President and |
|   |            |   |   |                    | Chief Accounting Officer |