----

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

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|        FORM      10-K |
|----------------------------|
| (Mark      One)            |   |

|        x  | ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) |
|----------------|----------------------------------------------------|
|           | OF      THE SECURITIES EXCHANGE ACT OF 1934        |
|           | For      the fiscal year ended December 31, 2009   |
|           |                                               |
|        OR |

|        o | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                              |   |
|---------------|--------------------------------------------------------------------------------------------|--------|
|          | SECURITIES      EXCHANGE ACT OF 1934                                                       |   |
|          | For      the transition period      from        to |   |

|                                                       | AXA      FINANCIAL, INC. |   |
|------------------------------------------------------------|--------------------------|--------|
| (Exact      name of registrant as specified in itscharter) |

|                                                 | Delaware |                     | 13-3623351 |
|------------------------------------------------------|----------|--------------------------|------------|
| (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)          |

|  Registrant’s      telephone number, including area code      |  (212) 554-1234 |   |
|----------------------------------------------------------------------------------------------|---------------------------|--------|
|                                                                                         |
| Securities      registered pursuant to Section 12(b) of the Act:                             |
|                                                                                         |
|   | Title      of each class |   | Name      of each exchange on which registered |   |   |
|--------|--------------------------|--------|------------------------------------------------|--------|--------|
|   |   | None   |   |   |   |  None |   |   |
|--------|--------|--------|--------|--------|--------|------------|--------|--------|
|   |   |   |   |   |

|   |  Securities      registered pursuant to Section 12(g) of the Act: |   |
|--------|------------------------------------------------------------------------|--------|
|   |                                                                   | None   |   |   |

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

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

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

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

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| Part I                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Page   |
|--------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Item      1.                                                 | Business                                                                                                                                                             | 1-1    |
|                                                         | Overview                                                                                                                                                             | 1-1    |
|                                                         | Segment      Information                                                                                                                                             | 1-1    |
|                                                         | Employees      and Financial      Professionals                                                                                                                      | 1-7    |
|                                                         | Competition                                                                                                                                                          | 1-7    |
|                                                         | Regulation                                                                                                                                                           | 1-8    |
|                                                         | Parent      Company                                                                                                                                                  | 1-11   |
|                                                         | Other      Information                                                                                                                                               | 1-11   |
| Item      1A.                                                | Risk      Factors                                                                                                                                                    | 1A-1   |
| Item      1B.                                                | Unresolved      Staff      Comments                                                                                                                                  | 1B-1   |
| Item      2.                                                 | Properties                                                                                                                                                           | 2-1    |
| Item      3.                                                 | Legal      Proceedings                                                                                                                                               | 3-1    |
| Item      4.                                                 | Submission      of Matters to a Vote of Security      Holders*                                                                                                       | 4-1    |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Part II                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Item      5.                                                 | Market      for Registrant’s Common Equity, Related Stockholder Matters      and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
|                                                         | Issuer      Purchases of Equity      Securities                                                                                                                                | 5-1    |
| Item      6.                                                 | Selected      Financial      Data*                                                                                                                                   | 6-1    |
| Item      7.                                                 | Management’s      Discussion and Analysis of Financial Condition and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |
|                                                         | Results      of Operations (“Management      Narrative”)                                                                                                           | 7-1    |
| Item      7A.                                                | Quantitative      and Qualitative Disclosures About Market      Risk                                                                                                 | 7A-1   |
| Item      8.                                                 | Financial      Statements and Supplementary      Data                                                                                                                | FS-1   |
| Item      9.                                                 | Changes      In and Disagreements With Accountants On Accounting and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                         | Financial      Disclosure                                                                                                                                                      | 9-1    |
| Item      9A(T).                                             | Controls      and      Procedures                                                                                                                                    | 9A-1   |
| Item      9B.                                                | Other      Information                                                                                                                                               | 9B-1   |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Part III                                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Item      10.                                                | Directors,      Executive Officers and Corporate      Governance*                                                                                                    | 10-1   |
| Item      11.                                                | Executive      Compensation*                                                                                                                                         | 11-1   |
| Item      12.                                                | Security      Ownership of Certain Beneficial Owners and Management and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                         | Related      Stockholder      Matters*                                                                                                                                         | 12-1   |
| Item      13.                                                | Certain      Relationships and Related Transactions, and Director      Independence*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 13-1   |
| Item      14.                                                | Principal      Accountant Fees and      Services                                                                                                                     | 14-1   |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Part IV                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Item      15.                                                | Exhibits,      Financial Statement      Schedules                                                                                                                    | 15-1   |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| Signatures                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | S-1    |
| Index      to Exhibits                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | E-1    |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| *Omitted      pursuant to General Instruction I to Form 10-K |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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|                                                                                                                                                                                                                                                                                                                         |   | Amount |     |   | %      of Total |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|-----------------|--------|
|                                                                                                                                                                                                                                                                                                                         |   |   |     |   |            |   |
| Fixed      maturities                                                             |   | $      | 41,370.7 |   |            |   | 74.4 | % |
| Mortgages                                                                         |   |   | 5,337.2  |   |            |   | 9.6 |   |
| Equity      real      estate                                                      |   |   | 98.8     |   |            |   | .2 |   |
| Other      equity      investments                                                |   |   | 1,287.2  |   |            |   | 2.3 |   |
| Policy      loans                                                                 |   |   | 4,971.9  |   |            |   | 8.9 |   |
| Cash      and short-term investments (2)                                                                                                                                                                                                                                                                                     |   |   | 2,559.7  |   |            |   | 4.6 |   |
| Total                                                                             |   | $      | 55,625.5 |   |            |   | 100.0 | % |

| (1)   | Net      amortized cost is the cost of the General Account Investment Assets      (adjusted for impairments in value deemed to be other than temporary, if      any) less depreciation and amortization, where applicable, and less      valuation allowances on mortgage and real estate    portfolios. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Comprised      of “Cash and cash equivalents” and short-term investments included within      the “Other invested assets” caption on the consolidated balance      sheet. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | decrease      the account values of our variable life and annuity contracts which, in      turn, reduces the amount of revenue we derive from fees charged on those      account and asset values and, for annuity contracts that provide enhanced      guarantee features, increases the amount of our potential obligations      related to such enhanced guarantee features and may increase the cost of      executing product guarantee related hedges beyond what was anticipated in      the pricing of the products being hedged.  This could result in      an increase in claims and reserves related to those contracts, net of any      reinsurance reimbursements or proceeds from our hedging      programs; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | negatively      impact the value of equity securities we hold for investment, including      our investment in AllianceBernstein, thereby reducing our statutory      capital; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | may      adversely impact the levels of surrenders and withdrawals of our variable      life and annuity contracts or cause contract owners to reallocate a      portion of their account balances to more conservative investment options      (which may have lower fees), which could negatively impact our future      profitability and/or increase our benefit obligations particularly if they      were to remain in such options during an equity market      increase; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | may      reduce demand for variable products relative to fixed      products; |
|--------------------|-------------------------------------------------------------------------------|

| ·   | could      lead to changes in estimates underlying our calculations of deferred      acquisition costs that, in turn, could accelerate our DAC and VOBA      amortization and reduce our currentearnings; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | may      result in changes to the fair value of our GMIB reinsurance contracts,      which could increase the volatility of our earnings;  and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | decrease      the value of assets held to fund payments to employees from our qualified      pension plan, which could result in increased pension plan      costs. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | We      could experience long-term interruptions in our service due to the      vulnerability of our information and operation systems and those of our      significant vendors to the effects of catastrophic events.  Some      of our operational systems are not fully redundant, and our disaster      recovery and business continuity planning cannot account for all      eventualities.  Additionally, unanticipated problems with our      disaster recovery systems could further impede our ability to conduct      business, particularly if those problems affect our computer-based data      processing, transmission, storage and retrieval systems and destroy      valuable data. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      occurrence of a pandemic disease could have a material adverse effect on      our liquidity and the operating results of the Financial      Advisory/Insurance Segment due to increased mortality and, in certain      cases, morbidity rates. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      occurrence of any pandemic disease, natural disaster, terrorist attacks or      any other catastrophic event that results in our workforce being unable to      be physically located at one of our facilities could result in lengthy      interruptions in our service. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A      localized catastrophic event that affects the location of one or more of      our COLI and/or employer sponsored life insurance customers could cause a      significant loss due to the corresponding mortality  claims. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Another      terrorist attack in the United States could have long-term economic      impacts, that may have severe negative effects on our investment portfolio      and disrupt our business operations.  Any continuous and      heightened threat of terrorist attacks could also result in increased      costs of reinsurance. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | the      amount of benefits potentially payable by the Insurance Group under the      enhanced guarantee features offered in certain products, particularly the      Accumulator®      series of variable annuity products, has increased substantially, which      has increased the level of regulatory capital and reserves that the      Insurance Group needs to maintain to support these    products. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | AllianceBernstein’s      assets under management, consolidated results of operations, the value of      the Insurance Group’s investment in AllianceBernstein, and the level of      distributions paid by AllianceBernstein to AXA Financial Group have all      declined materially.  In particular, the decline in value of the      Insurance Group’s investment in AllianceBernstein has had a material      negative impact on the Insurance Group’s regulatory capital      levels. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | significant      declines in Separate Accounts balances have reduced the fee income being      earned on such accounts. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------|

| ·   | demand      for the Insurance Group’s products has been and may continue to be      adversely affected. |
|--------------------|---------------------------------------------------------------------------------------------------------------|

| ·   | 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 contracts ceded      to non-affiliated 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 market and/or      interest rate fluctuations that cause gains or losses on the fair value of      the GMIB reinsurance 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 during 2009 as the      significant increase in equity markets and 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. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | 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 unfavorable changes 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 of the GMIB reinsurance contracts, changes in      the value of the derivatives will be recognized in the period in which      they occur while offsetting changes in reserves will be recognized over      time, which will contribute to earnings volatility.  This was      the case during 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. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 2009               |     |   | 2008   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |     |   |   |   |
| Decrease      (increase) in GMDB, GMIB and GWBL reserves, net of related GMDB      reinsurance (1)                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                  | 533.8    |   |   | $      | (2,612.0 | ) |
| (Decrease)      increase in fair value of GMIB reinsurance contracts (2)                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | (1,004.6 | )      |   |   | 1,860.7 |   |
| (Losses)      gains on free-standing derivatives (3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | (6,955.4 | )      |   |   | 6,753.5 |   |
| Total                                                                                    |   | $                  | (7,426.2 | )      |   | $      | 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 |
|-----------------|----------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |   |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009               |   |   | 2008   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (In      Millions) |   |
| (Losses)      Earnings from Discontinued Operations, Net of IncomeTaxes:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |   |   |   |   |
| Wind-up      Annuities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $                  | (16.2  | )      |   | $      | (27.5 | ) |
| Real      estate held-for-sale                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | -      |   |   |   | 1.5 |   |
| Disposal      of business - Enterprise                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | 1.1    |   |   |   | (3.5 | ) |
| Total                                                                                                 |   | $                  | (15.1  | )      |   | $      | (29.5 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |   |   |   |   |   |   |
| Gains      (Losses) on Disposal of Discontinued Operations, Net      of Income Taxes:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |   |   |   |   |   |   |
| Real      estate held-for-sale                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $                  | -      |   |   | $      | 6.3 |   |
| Disposal      of business - Enterprise                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | -      |   |   |   | 1.2 |   |
| Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $                  | -      |   |   | $      | 7.5 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009   |     |   | 2008   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |     |   |   |   |
| Universal      life and investment-type product policy fee income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $      | 3,118.2  |   |   | $      | 3,175.0 |   |
| Premiums                                                                                                                                                        |   |   | 1,490.6  |   |   |   | 1,522.1 |   |
| Net      investment (loss) income:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |     |   |   |   |   |   |
| Investment      (loss) income from derivative instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | (6,954.7 | )      |   |   | 6,757.5 |   |
| Other      investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 2,832.5  |   |   |   | 2,747.7 |   |
| Total      net investment (loss)      income                                                                                                                                                            |   |   | (4,122.2 | )      |   |   | 9,505.2 |   |
| Investment      (losses) gains, net:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |     |   |   |   |   |   |
| Total      other-than-temporary impairment      losses                                                                                                                         |   |   | (280.3   | )      |   |   | (412.5 | ) |
| Portion      of losses recognized in other comprehensive income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 6.3      |   |   |   | - |   |
| Net      impairment losses      recognized                                                                                                                                                    |   |   | (274.0   | )      |   |   | (412.5 | ) |
| Other      investment gains (losses)      net                                                                                                                                  |   |   | 157.4    |   |   |   | (77.9 | ) |
| Total      investment (losses) gains,      net                                                                                                                                                          |   |   | (116.6   | )      |   |   | (490.4 | ) |
| Commissions,      fees and other      income                                                                                                                    |   |   | 978.2    |   |   |   | 1,104.7 |   |
| (Decrease)      increase in fair value of reinsurance contracts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | (1,004.6 | )      |   |   | 1,860.6 |   |
| Total      revenues                                                                                                                                                                                     |   |   | 343.6    |   |   |   | 16,677.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |     |   |   |   |   |   |
| Policyholders’      benefits                                                                                                                              |   |   | 2,486.1  |   |   |   | 5,744.9 |   |
| Interest      credited to policyholders’ account      balances                                                                                            |   |   | 1,137.5  |   |   |   | 1,202.8 |   |
| Compensation      and      benefits                                                                                                                             |   |   | 1,003.7  |   |   |   | 921.9 |   |
| Commission      costs                                                                                                                                           |   |   | 946.4    |   |   |   | 1,318.0 |   |
| Interest      expense                                                                                                                                           |   |   | 259.3    |   |   |   | 135.4 |   |
| Amortization      of DAC and      VOBA                                                                                                                          |   |   | (58.5    | )      |   |   | 2,975.0 |   |
| Capitalization      of      DAC                                                                                                                                 |   |   | (1,005.7 | )      |   |   | (1,438.0 | ) |
| Rent      expense                                                                                                                                               |   |   | 101.1    |   |   |   | 102.0 |   |
| Amortization      of other intangible assets,      net                                                                                                          |   |   | 2.3      |   |   |   | 2.3 |   |
| All      other operating costs and      expenses                                                                                                                |   |   | 584.2    |   |   |   | 790.3 |   |
| Total      benefits and other      deductions                                                                                                                                                           |   |   | 5,456.4  |   |   |   | 11,754.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |     |   |   |   |   |   |
| (Loss)      Earnings from Continuing Operations before Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $      | (5,112.8 | )      |   | $      | 4,922.6 |   |

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| ·   | 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/orvolatility. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 2009   |    |   | 2008   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |    |   |   |   |
| Revenues:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |    |   |   |   |
| Investment      advisory and services fees (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $      | 1,920.3 |   |   | $      | 2,839.5 |   |
| Distribution      revenues                                                                                                                           |   |   | 277.3   |   |   |   | 378.4 |   |
| Bernstein      research      services                                                                                                                |   |   | 434.6   |   |   |   | 471.7 |   |
| Other      revenues(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 89.4    |   |   |   | 121.0 |   |
| Commissions,      fees and other      income                                                                                                                        |   |   | 2,721.6 |   |   |   | 3,810.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |    |   |   |   |   |   |
| Investment      income      (losses)                                                                                                                 |   |   | 171.2   |   |   |   | (257.4 | ) |
| Less:      interest expense to finance trading      activities                                                                                       |   |   | (4.4    | )      |   |   | (36.5 | ) |
| Net      investment income      (losses)                                                                                                                            |   |   | 166.8   |   |   |   | (293.9 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |    |   |   |   |   |   |
| Investment      gains,      net                                                                                                                      |   |   | 52.6    |   |   |   | 23.1 |   |
| Total      revenues                                                                                                                                                      |   |   | 2,941.0 |   |   |   | 3,539.8 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |    |   |   |   |   |   |
| Expenses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |    |   |   |   |   |   |
| Compensation      and      benefits                                                                                                                  |   |   | 1,340.0 |   |   |   | 1,488.8 |   |
| Distribution      plan      payments                                                                                                                 |   |   | 207.6   |   |   |   | 274.4 |   |
| Amortization      of deferred sales      commissions                                                                                                 |   |   | 54.9    |   |   |   | 79.1 |   |
| Interest      expense                                                                                                                                |   |   | 47.9    |   |   |   | 61.5 |   |
| Rent      expense                                                                                                                                    |   |   | 194.3   |   |   |   | 193.0 |   |
| Amortization      of other intangible assets,      net                                                                                               |   |   | 36.9    |   |   |   | 36.6 |   |
| Other      operating costs and      expenses                                                                                                         |   |   | 533.2   |   |   |   | 552.8 |   |
| Total      expenses                                                                                                                                                      |   |   | 2,414.8 |   |   |   | 2,686.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |    |   |   |   |   |   |
| Earnings      from Continuing Operations before Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $      | 526.2   |   |   | $      | 853.6 |   |

|  (1) | Included      fees earned by AllianceBernstein totaling $36.6 million and $38.7 million      in 2009 and 2008, respectively, for services provided to the Insurance      Group. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | December      31, |    |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 2009              |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |              |    |   |   |   |
| Third      party(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                 | 435,847 |   |   | $ | 412,479 |   |
| General      Account and other(2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |              | 59,191  |   |   |   | 61,262 |   |
| Separate      Accounts                                                                                           |   |              | 86,152  |   |   |   | 69,501 |   |
| Total      Assets Under      Management                                                                                              |   | $                 | 581,190 |   |   | $ | 543,242 |   |

| (1)   | Included      $39.58 billion and $39.39 billion of assets managed on behalf of AXA      affiliates at December 31, 2009 and 2008, respectively.  Also      included in 2009 and 2008 are $13.6 billion and $11.9 billion,      respectively, in assets related to an Australian joint venture between      AllianceBernstein and an AXAaffiliate. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Included      invested assets of AXA Financial Group not managed by AllianceBernstein,      principally cash and short-term investments and policy loans, totaling      approximately $19.8 billion and $22.9 billion at December 31, 2009 and      2008, respectively, as well as mortgages and equity real estate totaling      $5.5 billion and $5.7 billion at December 31, 2009 and 2008,      respectively. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | A      $440 floating rate short-term note initially issued to AXA on June 16,      2009.  The proceeds from this note were contributed to a newly      formed non-insurance subsidiary to support the purchase of investment real      estate from AXA Equitable. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A      $250.0 million short-term note to AXA originally issued on March 31, 2008      with an interest rate of three month LIBOR plus 25 basis      points.  The funds were used to pay the $250.0 million of      third-party debt that matured on April 1,2008. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A      $500.0 million fixed rate note issued to AXA on November 24,      2008.  AXA Financial used the proceeds to purchase a $500      million surplus note from AXA Equitable that is scheduled to mature on      December 1, 2018 and bears interest at the rate of 7.1% per      annum. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Two      $1.25 billion floating rate notes issued to AXA on December 15,      2008.  These promissory notes bore interest at LIBOR plus 3.20%      and 3.40%, respectively; the rates reset every three      months.  AXA Financial used $2.00 billion of the proceeds from      these borrowings to make a capital contribution to AXA Bermuda; the      remaining $500 million was used to purchase an additional surplus note      from AXA Equitable.  Like the note issued by AXA Equitable in      November 2008, this surplus note has a 7.1% interest rate and is scheduled      to mature on December 1, 2018. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| ·   | At      December 31, 2009, AXA Equitable and MONY Life had outstanding $650.0      million and $50.0 million of 5.40% senior unsecured notes issued by AXA      affiliates and AXA Financial held a $12.0 million note issued by AXA      America Holding, Inc. that matures on December 31, 2010 and bears interest      of 0.99%.  AXA America Holdings issued another note for $6.0      million to AXA Financial with the same terms.  Additionally, at      December 31, 2009, AXA Bermuda held $500.0 million of commercial paper      issued by AXA that is scheduled to mature on January 14, 2010 as well as a      $500.0 million note from AXA scheduled to mature on December 15, 2015 that      bears interest at a rate of LIBOR plus 3.2% that resets      quarterly. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | AllianceBernstein      provides investment management and related services to AXA, AXA Financial      Group and certain of their subsidiaries and      affiliates.  AllianceBernstein and AXA Asia Pacific Holdings      Limited, an AXA affiliate own two investment management companies and      recognized management fees of $40.9 million, $68.3 million and $77.6      million in 2009, 2008 and 2007, respectively, of which approximately $14.0      million, $19.6 million and $22.9 million, respectively, were from AXA      affiliates and $3.7 million, $9.7 million and $11.1 million, respectively,      were attributed to noncontrollinginterest. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | AXA      Financial, AXA Equitable and AllianceBernstein, along with other AXA      affiliates, participate in certain cost sharing and servicing agreements,      which include technology and professional development      arrangements.  Payments by AXA Financial Group to AXA under such      agreements totaled approximately $48.0 million, $45.3 million and $32.9      million in 2009, 2008 and 2007, respectively.  Payments by AXA      and AXA affiliates to AXA Financial Group under such agreements totaled      approximately $17.8 million, $28.1 million and $27.7 million in 2009, 2008      and 2007, respectively.  Included in the payments by AXA and AXA      affiliates to AXA Financial Group were $7.6 million, $12.9 million and      $13.5 million from AXA Tech for 2009, 2008 and 2007,      respectively.  AXA Financial Group provided and paid for certain      services at cost on behalf of AXA Tech; these costs which totaled $107.0      million, $117.6 million and $110.7 million for 2009, 2008 and 2007,      respectively, offset the amounts AXA Financial Group were charged in those      years for services provided by AXATech. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                          |   |   |      |   | Payments      Due by Period |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|-----------------------------|--------|
|                                                                                                                                                                                                                                                          |   |   |      |   | Less      than              |   |   |   |   |   |   |   |   | Over |   |
|                                                                                                                                                                                                                                                          |   | Total  |      |   | 1      year                 |   |   | 1 –      3 years |   |   | 4 –      5 years |   |   | 5      years |   |
|                                                                                                                                                                                                                                                          |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |
| Contractual      obligations:                                                                                                                                                                                                                                 |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |
| Policyholders      liabilities -                                                                                                                                                                                                                              |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |
| policyholders’      account                                                                                                                                                                                                                             |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |
| balances,      future policy                                                                                                                                                                                                                                  |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |
| benefits      and other                                                                                                                                                                                                                                       |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |
| policyholders      liabilities (1)                                                                                                                                                                                                                            |   | $      | 110,206.3 |   |                        | $      | 2,669.5 |   |   | $ | 5,212.0 |   |   | $ | 5,699.9 |   |   | $ | 96,624.9 |   |
| Long-term      debt                                        |   |   | 1,331.9   |   |                        |   | 780.0 |   |   |   | - |   |   |   | - |   |   |   | 551.9 |   |
| Loans      from affiliates                                                                                                                                                                                                                                    |   |   | 5,411.5   |   |                        |   | 2.3 |   |   |   | 5.2 |   |   |   | 6.1 |   |   |   | 5,397.9 |   |
| Operating      leases                                                                                                                                                                                                                                    |   |   | 3,379.4   |   |                        |   | 217.4 |   |   |   | 444.7 |   |   |   | 455.9 |   |   |   | 2,261.4 |   |
| AllianceBernstein       funding commitments                                                                                                                                                                                                              |   |   | 55.9      |   |                        |   | 22.7 |   |   |   | 16.0 |   |   |   | 17.2 |   |   |   | - |   |
| Employee      benefits                                                                                                                                                                                                                                   |   |   | 2,315.2   |   |                        |   | 303.8 |   |   |   | 623.8 |   |   |   | 618.5 |   |   |   | 769.1 |   |
|                                                                                                                                                                                                                                                          |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Contractual                                                                                                                                                                                                                                        |   |   |      |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Obligations                                                                         |   | $      | 122,700.2 |   |                        | $      | 3,995.7 |   |   | $ | 6,301.7 |   |   | $ | 6,797.6 |   |   | $ | 105,605.2 |   |

| (1)   | Policyholders      liabilities represent estimated cash flows out of the General Account      related to the payment of death and disability claims, policy surrenders      and withdrawals, annuity payments, minimum guarantees on Separate Account      funded contracts, matured endowments, benefits under accident and health      contracts, policyholder      dividends and future renewal premium-based and fund-based commissions      offset by contractual future premiums and deposits on in-force      contracts.  These estimated cash flows are based on mortality,      morbidity and lapse assumptions comparable with the AXA Financial Group’s      experience and assume market growth and interest crediting consistent with      assumptions used in amortizing DAC and VOBA.  These amounts are      undiscounted and, therefore, exceed the Policyholders’ account balances      and Future policy benefits and other policyholder liabilities included in      the consolidated balance sheet included elsewhere herein.  They      do not reflect projected recoveries from reinsurance      agreements.  Due to the use of assumptions, actual cash flows      will differ from these estimates (see “Critical Accounting Estimates –      Future Policy Benefits”).  Separate Accounts liabilities have      been excluded as they are legally insulated from General Account      obligations and will be funded by cash flows from Separate Accounts      assets. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

|                                                                                                                                                                                                                                                                                        |   | December      31, 2009 |     |   | December      31, 2008 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|----------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                                                        |   |                   |     |   | Balance      After     |   |   |   |   |   | Balance      After |   |
|                                                                                                                                                                                                                                                                                        |   | Fair                   |     |   | +100      Base         |   |   | Fair |   |   | +100      Basis |   |
|                                                                                                                                                                                                                                                                                        |   | Value                  |     |   | Point      Change      |   |   | Value |   |   | Point      Change |   |
| Insurance Group                                                                                                                                                                                                                                                                             |   |                   |     |   |                   |   |   |   |   |   |   |   |
| Continuing      Operations:                                                                                                                                                                                                                                                                 |   |                   |     |   |                   |   |   |   |   |   |   |   |
| Fixed      maturities:                                                                                                                                                                                                                                                                      |   |                   |     |   |                   |   |   |   |   |   |   |   |
| Fixed      rate                                                           |   | $                      | 40,419.8 |   |                   | $      | 38,599.0 |   |   | $ | 33,873.3 |   |   | $ | 32,215.8 |   |
| Floating      rate                                                        |   |                   | 753.1    |   |                   |   | 726.3 |   |   |   | 660.3 |   |   |   | 657.2 |   |
| Mortgage      loans                                             |   |                   | 5,302.9  |   |                   |   | 5,102.0 |   |   |   | 5,039.6 |   |   |   | 4,830.6 |   |
|                                                                                                                                                                                                                                                                                        |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Wind-up      Annuities(1):                                                                                                                                                                                                                                                                  |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      maturities:                                                                                                                                                                                                                                                                      |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      rate                                                           |   |                   | -        |   |                   |   | - |   |   | $ | 602.2 |   |   | $ | 581.9 |   |
| Mortgage      loans                                             |   |                   | -        |   |                   |   | - |   |   |   | 1.3 |   |   |   | 1.2 |   |
|                                                                                                                                                                                                                                                                                        |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| AXA Financial                                                                                                                                                                                                                                                                               |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      maturities:                                                                                                                                                                                                                                                                      |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      rate                                                           |   | $                      | 1.9      |   |                   | $      | 1.8 |   |   | $ | 7.4 |   |   | $ | 6.9 |   |

----

|                                                                                                                                                                                                                                                                                   |   | December      31, 2009 |   |   | December      31, 2008                              |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|--------|--------|-----------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                   |   | FairValue              |   |   | Balance      After-10%      EquityPrice      Change |   |   |        FairValue |   |   | Balance      After-10%      EquityPrice      Change |   |
| Insurance      Group                                                                                                                                                                                                                                                                   |   |                   |   |   |                                                |   |   |   |   |   |   |   |
| Continuing      operations                                           |   | $                      | 72.0   |   |                                                | $      | 64.8  |   |   | $ | 57.5 |   |   | $ | 51.7 |   |

----

|                                                                                                                                                                                                                                                            | December      31, 2009 |   | December      31, 2008 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                            |                   |   | Balance      After     |   |   |   | Balance      After |   |
|                                                                                                                                                                                                                                                            | Fair                   |   | -100      Basis        |   | Fair |   | -100      Basis |   |
|                                                                                                                                                                                                                                                            | Value                  |   | Point      Change      |   | Value |   | Point      Change |   |
|                                                                                                                                                                                                                                                            |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Insurance      Group                                                                                                                                                                                                                                            |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Continuing      Operations:                                                                                                                                                                                                                                     |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Fixed      rate                                                   |                   | $      | 228.5                  |   |   | $ | 239.9 |   |   | $ | 192.7 |   |   | $ | 203.2 |   |
|                                                                                                                                                                                                                                                            |                   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AXA      Financial                                                                                                                                                                                                                                              |                   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      rate                                         |                   | $      | 1,149.6                |   |   | $ | 1,192.0 |   |   | $ | 1,039.4 |   |   | $ | 1,077.0 |   |

----

|                                                                                                                                                                                        |   |     |      |   |     |   |   | Interest      Rate Sensitivity |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|-----------|--------|----------|--------|--------|--------------------------------|--------|
|                                                                                                                                                                                        |   |     |      |   | Weighted |   |   |                           |   |   |   |   |   |
|                                                                                                                                                                                        |   |     |      |   | Average  |   |   | Balance      After             |   |   |   | Balance      After |   |
|                                                                                                                                                                                        |   | Notional |      |   | Term     |   |   | -100      Basis                |   | Fair |   | +100      Basis |   |
|                                                                                                                                                                                        |   | Amount   |      |   | (Years)  |   |   | Point      Change              |   | Value |   | Point      Change |   |
| December      31, 2009                                                                                                                                                                      |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |
| Insurance      Group:                                                                                                                                                                       |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |
| Floors                                          |   | $        | 15,000.0  |   |     |   | 2.65   |                           |   | $ | 428.1 |   |   | $ | 299.6 |   |   | $ | 214.4 |   |
| Swaps                                           |   |     | 8,707.0   |   |     |   | 18.07  |                           |   |   | 932.5 |   |   |   | (134.0 | ) |   |   | (1,036.9 | ) |
| Futures                                         |   |     | 6,785.1   |   |     |   | .22    |                           |   |   | 600.5 |   |   |   | - |   |   |   | (547.9 | ) |
| Swaptions                                       |   |     | 1,200.0   |   |     |   | 9.53   |                           |   |   | 88.0 |   |   |   | 44.6 |   |   |   | 22.4 |   |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| AXA      Financial:                                                                                                                                                                         |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Currency      swaps                             |   |     | 3,872.6   |   |     |   | 9.88   |                           |   |   | (138.0 | ) |   |   | (112.9 | ) |   |   | (90.4 | ) |
| Total                                 |   | $        | 35,564.7  |   |     |   |   |                           |   | $ | 1,911.1 |   |   | $ | 97.3 |   |   | $ | (1,438.4 | ) |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| December      31, 2008                                                                                                                                                                      |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Insurance      Group:                                                                                                                                                                       |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Options:                                                                                                                                                                                    |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      rate floors                                                                                                                                                                   |   | $        | 21,000.0  |   |     |   | 5.66   |                           |   | $ | 871.1 |   |   | $ | 547.0 |   |   | $ | 452.0 |   |
| S&P      puts/calls                                        |   |     | 1,750.0   |   |     |   | 1.00   |                           |   |   | 163.1 |   |   |   | 31.1 |   |   |   | (122.0 | ) |
| Futures                                         |   |     | 20,536.7  |   |     |   | .22    |                           |   |   | 1,339.0 |   |   |   | - |   |   |   | (1,339.0 | ) |
| Interest      rate swaps                                                                                                                                                                    |   |     | 4,687.0   |   |     |   | 9.92   |                           |   |   | 1,209.9 |   |   |   | 761.5 |   |   |   | 346.9 |   |
| Total                                 |   | $        | 47,973.7  |   |     |   |   |                           |   | $ | 3,583.1 |   |   | $ | 1,339.6 |   |   | $ | (662.1 | ) |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   | Equity      Sensitivity |   |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   | Balance      after |   |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   | Fair |   | -10%      Equity |   |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   | Value |   | Price      Shift |   |
| December      31, 2009:                                                                                                                                                                     |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Insurance      Group:                                                                                                                                                                       |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Futures                                         |   | $        | 8,250.3   |   |     |   | .22    |                           |   |   |   |   |   | $ | - |   |   | $ | 794.4 |   |
| Swaps                                           |   |     | 1,553.3   |   |     |   | .28    |                           |   |   |   |   |   |   | (24.3 | ) |   |   | 124.5 |   |
| Options                                         |   |     | 11,650.0  |   |     |   | .28    |                           |   |   |   |   |   |   | (218.5 | ) |   |   | (127.9 | ) |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| AXA      Financial:                                                                                                                                                                         |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| ADR      Swaps                                  |   |     | 20.6      |   |     |   | .28    |                           |   |   |   |   |   |   | (2.3 | ) |   |   | 11.9 |   |
|                                                                                                                                                                                        |   | $        | 21,474.2  |   |     |   |   |                           |   |   |   |   |   | $ | (245.1 | ) |   | $ | 802.9 |   |
|                                                                                                                                                                                        |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| December      31, 2008                                                                                                                                                                      |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Insurance      Group:                                                                                                                                                                       |   |     |      |   |     |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Futures                                         |   | $        | (14,163.7 | )      |     |   | .22    |                           |   |   |   |   |   | $ | - |   |   | $ | 141.7 |   |

----

|                                                                                                                                                                                                                                                                            | December      31, 2009 |   | December      31, 2008 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                                            |                   |   | Balance      After     |   |   |   | Balance      After |   |
|                                                                                                                                                                                                                                                                            | Fair                   |   | +100      Basis Point  |   | Fair |   | +100      Basis Point |   |
|                                                                                                                                                                                                                                                                            | Value                  |   | Change                 |   | Value |   | Change |   |
|                                                                                                                                                                                                                                                                            |                   |   |                   |   |   |   |   |   |
| Fixed      Income Investments:                                                                                                                                                                                                                                                  |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Trading                                             |                   | $      | 125.9                  |   |   | $ | 120.2 |   |   | $ | 76.2 |   |   | $ | 73.1 |   |
| Available-for-sale      and other                                                                                                                                                                                                                                               |                   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| investments                                                   |                   |   | .2                     |   |   |   | .2 |   |   |   | .2 |   |   |   | .2 |   |

|                                                                                                                                                                                                                                                          | December      31, 2009 |   | December      31, 2008 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                          |                   |   | Balance      After     |   |   |   | Balance      After |   |
|                                                                                                                                                                                                                                                          | Fair                   |   | -10%      equity Price |   | Fair |   | -10%      Equity Price |   |
|                                                                                                                                                                                                                                                          | Value                  |   | Change                 |   | Value |   | Change |   |
|                                                                                                                                                                                                                                                          |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Equity      Investments:                                                                                                                                                                                                                                      |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Trading                                          |                   | $      | 358.7                  |   |   | $ | 322.8 |   |   | $ | 246.4 |   |   | $ | 221.8 |   |
| Available      for sale and other                                                                                                                                                                                                                             |                   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| investments                                                     |                   |   | 283.3                  |   |   |   | 255.0 |   |   |   | 255.1 |   |   |   | 229.6 |   |

----

----

| Report      of Independent Registered Public Accounting      Firm                                                                                                                                 | F-1    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Consolidated      Financial Statements:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |
| Consolidated      Balance Sheets, December 31, 2009 and 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | F-2    |
| Consolidated      Statements of (Loss) Earnings, Years Ended December 31, 2009, 2008 and      2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | F-3    |
| Consolidated      Statements of Equity, Years Ended December 31, 2009, 2008 and      2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | F-5    |
| Consolidated      Statements of Comprehensive (Loss) Income, Years Ended December 31, 2009,      2008 and 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | F-6    |
| Consolidated      Statements of Cash Flows, Years Ended December 31, 2009, 2008 and      2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | F-7    |
| Notes      to Consolidated Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | F-9    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Report      of Independent Registered Public Accounting Firm on Consolidated Financial      Statement Schedules                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | F-84   |
| Consolidated      Financial Statement Schedules:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| Schedule      I - Summary of Investments - Other than Investments in Related Parties,      December 31, 2009                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | F-85   |
| Schedule      II - Balance Sheets (Parent Company), December 31, 2009 and      2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | F-86   |
| Schedule      II - Statements of (Loss) Earnings (Parent Company), Years Ended      December 31, 2009, 2008 and 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | F-87   |
| Schedule      II - Statements of Cash Flows (Parent Company), Years Ended      December 31, 2009, 2008 and 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | F-88   |
| Schedule      III - Supplementary Insurance Information, Years Ended December 31,      2009, 2008 and 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | F-89   |
| Schedule      IV - Reinsurance, Years Ended December 31, 2009, 2008 and      2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | F-92   |

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2009               |      |   | 2008   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|-----------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | (In      Millions) |      |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |      |   |   |   |
| Investments:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |      |   |   |   |
| Fixed      maturities available for sale, at fair      value                                                                                                  |   | $                  | 40,131.6  |   |   | $      | 33,415.9 |   |
| Mortgage      loans on real estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |               | 4,939.1   |   |   |   | 5,174.0 |   |
| Equity      real estate, held for the production of income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               | 515.0     |   |   |   | 370.3 |   |
| Policy      loans                                                                                                                                             |   |               | 4,973.4   |   |   |   | 5,045.2 |   |
| Other      equity      investments                                                                                                                            |   |               | 1,681.0   |   |   |   | 1,789.9 |   |
| Trading      securities                                                                                                                                       |   |               | 1,928.5   |   |   |   | 322.7 |   |
| Other      invested      assets                                                                                                                               |   |               | 1,632.6   |   |   |   | 3,424.6 |   |
| Total      investments                                                                                                                                                            |   |               | 55,801.2  |   |   |   | 49,542.6 |   |
| Cash      and cash      equivalents                                                                                                                 |   |               | 3,038.7   |   |   |   | 10,061.2 |   |
| Cash      and securities segregated, at fair      value                                                                                             |   |               | 985.7     |   |   |   | 2,572.6 |   |
| Broker-dealer      related      receivables                                                                                                         |   |               | 1,087.6   |   |   |   | 1,020.4 |   |
| Deferred      policy acquisition      costs                                                                                                         |   |               | 9,015.4   |   |   |   | 8,503.3 |   |
| Goodwill      and other intangible assets,      net                                                                                                 |   |               | 5,271.8   |   |   |   | 5,316.6 |   |
| Value      of business      acquired                                                                                                                |   |               | 448.3     |   |   |   | 666.5 |   |
| Amounts      due from      reinsurers                                                                                                               |   |               | 4,237.1   |   |   |   | 4,286.6 |   |
| Loans      to      affiliates                                                                                                                       |   |               | 1,712.0   |   |   |   | 1,143.5 |   |
| Other      assets                                                                                                                                   |   |               | 4,097.9   |   |   |   | 5,101.2 |   |
| Separate      Accounts’      assets                                                                                                           |   |               | 86,129.2  |   |   |   | 69,614.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |      |   |   |   |   |   |
| Total      Assets                                                                                                                                   |   | $                  | 171,824.9 |   |   | $      | 157,828.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |      |   |   |   |   |   |
| LIABILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               |      |   |   |   |   |   |
| Policyholders’      account      balances                                                                                                     |   | $                  | 27,522.4  |   |   | $      | 28,258.8 |   |
| Future      policy benefits and other policyholders liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               | 26,320.3  |   |   |   | 26,274.6 |   |
| Broker-dealer      related      payables                                                                                                            |   |               | 1,788.4   |   |   |   | 934.8 |   |
| Customers      related      payables                                                                                                                |   |               | 1,430.7   |   |   |   | 2,753.1 |   |
| Short-term      and long-term      debt                                                                                                             |   |               | 1,581.4   |   |   |   | 1,625.8 |   |
| Loans      from      affiliates                                                                                                                     |   |               | 5,300.3   |   |   |   | 4,530.0 |   |
| Income      taxes      payable                                                                                                                      |   |               | 1,684.1   |   |   |   | 2,892.5 |   |
| Other      liabilities                                                                                                                              |   |               | 5,827.2   |   |   |   | 6,308.4 |   |
| Noncontrolling      interest subject to redemption rights                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               | -         |   |   |   | 135.0 |   |
| Separate      Accounts’      liabilities                                                                                                      |   |               | 86,129.2  |   |   |   | 69,614.4 |   |
| Total      liabilities                                                                                                                                                            |   |               | 157,584.0 |   |   |   | 143,327.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |      |   |   |   |   |   |
| Commitments      and contingent liabilities (Notes 2, 7, 10, 11, 12, 13, 18 and      19)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |      |   |   |   |   |   |
| EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |      |   |   |   |   |   |
| AXA      Financial, Inc. equity:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |      |   |   |   |   |   |
| Common      stock, $.01 par value, 2.00 billion shares authorized,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |      |   |   |   |   |   |
| 436.2      million shares issued and outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 3.9       |   |   |   | 3.9 |   |
| Capital      in excess of par      value                                                                                                                           |   |               | 648.9     |   |   |   | 1,298.9 |   |
| Retained      earnings                                                                                                                                             |   |               | 11,401.1  |   |   |   | 14,448.8 |   |
| Accumulated      other comprehensive      loss                                                                                                                     |   |               | (1,346.4  | )      |   |   | (2,854.4 | ) |
| Treasury      shares, at      cost                                                                                                                                 |   |               | (34.3     | )      |   |   | (58.3 | ) |
| Total      AXA Financial, Inc.      equity                                                                                                                                        |   |               | 10,673.2  |   |   |   | 12,838.9 |   |
| Noncontrolling      interest                                                                                                                        |   |               | 3,567.7   |   |   |   | 1,662.6 |   |
| Total      equity                                                                                                                                                                 |   |               | 14,240.9  |   |   |   | 14,501.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |      |   |   |   |   |   |
| Total      Liabilities and      Equity                                                                                                              |   | $                  | 171,824.9 |   |   | $      | 157,828.9 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |
| REVENUES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |
| Universal      life and investment-type product policy fee income                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                  | 3,118.2  |   |   | $      | 3,175.0  |   |   | $ | 2,973.1 |   |
| Premiums                                                                                                                  |   |               | 1,490.6  |   |   |   | 1,522.1  |   |   |   | 1,561.6 |   |
| Net      Investment (loss) income:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |               |     |   |   |   |     |   |   |   |   |   |
| Investment      (loss) income from derivative instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               | (6,955.4 | )      |   |   | 6,753.4  |   |   |   | 67.5 |   |
| Other      investment      income                                                                                                   |   |               | 3,012.3  |   |   |   | 2,487.5  |   |   |   | 3,318.9 |   |
| Total      net investment (loss)      income                                                                                                                      |   |               | (3,943.1 | )      |   |   | 9,240.9  |   |   |   | 3,386.4 |   |
| Investment      (losses) gains, net:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |
| Total      other-than-temporary impairment losses                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | (280.3   | )      |   |   | (412.5   | )      |   |   | (115.0 | ) |
| Portion      of loss recognized in other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| comprehensive      income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               | 6.3      |   |   |   | -        |   |   |   | - |   |
| Net      impairment losses      recognized                                                                                                                        |   |               | (274.0   | )      |   |   | (412.5   | )      |   |   | (115.0 | ) |
| Other      investment gains (losses),      net                                                                                      |   |               | 210.0    |   |   |   | (54.8    | )      |   |   | 84.4 |   |
| Total      investment losses,      net                                                                                                                                      |   |               | (64.0    | )      |   |   | (467.3   | )      |   |   | (30.6 | ) |
| Commissions,      fees and other      income                                                                              |   |               | 3,651.5  |   |   |   | 4,809.2  |   |   |   | 5,447.5 |   |
| (Decrease)      increase in fair value of reinsurance contracts                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               | (1,004.6 | )      |   |   | 1,860.6  |   |   |   | 6.9 |   |
| Total      revenues                                                                                                                                     |   |               | 3,248.6  |   |   |   | 20,140.5 |   |   |   | 13,344.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |               |     |   |   |   |     |   |   |   |   |   |
| Policyholders’      benefits                                                                                        |   |               | 2,486.1  |   |   |   | 5,744.9  |   |   |   | 3,089.8 |   |
| Interest      credited to policyholders’ account balances                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               | 1,137.5  |   |   |   | 1,202.8  |   |   |   | 1,192.3 |   |
| Compensation      and      benefits                                                                                       |   |               | 2,343.4  |   |   |   | 2,410.3  |   |   |   | 2,968.3 |   |
| Commissions                                                                                                               |   |               | 946.4    |   |   |   | 1,318.0  |   |   |   | 1,624.7 |   |
| Distribution      plan      payments                                                                                      |   |               | 207.6    |   |   |   | 274.4    |   |   |   | 335.1 |   |
| Amortization      of deferred sales commissions                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               | 54.9     |   |   |   | 79.1     |   |   |   | 95.5 |   |
| Interest      expense                                                                                                     |   |               | 300.7    |   |   |   | 196.9    |   |   |   | 256.3 |   |
| Amortization      of deferred policy acquisition costs and                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| value      of business      acquired                                                                                                |   |               | (58.5    | )      |   |   | 2,975.0  |   |   |   | 1,217.5 |   |
| Capitalization      of deferred policy acquisition costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | (1,005.7 | )      |   |   | (1,438.0 | )      |   |   | (1,806.1 | ) |
| Rent      expense                                                                                                         |   |               | 295.4    |   |   |   | 295.0    |   |   |   | 269.9 |   |
| Amortization      of other intangible    assets                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               | 39.2     |   |   |   | 38.9     |   |   |   | 68.6 |   |
| Other      operating costs and expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 1,083.4  |   |   |   | 1,267.4  |   |   |   | 1,368.0 |   |
| Total      benefits and other      deductions                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 7,830.4  |   |   |   | 14,364.7 |   |   |   | 10,679.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |
| (Loss)      earnings from continuing operations                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |
| before      income      taxes                                                                                    |   | $                  | (4,581.8 | )      |   | $      | 5,775.8  |   |   | $ | 2,665.0 |   |
| Income      tax benefit      (expense)                                                                 |   |               | 1,779.7  |   |   |   | (1,850.4 | )      |   |   | (844.6 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| (Loss)      earnings from continuing operations,                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |
| net      of income      taxes                                                                                    |   |               | (2,802.1 | )      |   |   | 3,925.4  |   |   |   | 1,820.4 |   |
| Losses      from discontinued operations,                                                                                                                                                                                                                                                                                                                                                                                              |   |               |     |   |   |   |     |   |   |   |   |   |
| net      of income      taxes                                                                                    |   |               | (15.1    | )      |   |   | (29.5    | )      |   |   | (9.2 | ) |
| Gains      (losses) on disposal of discontinued                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| operations,      net of income      taxes                                                                        |   |               | -        |   |   |   | 7.5      |   |   |   | (3.6 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      (loss)      earnings                                                                          |   |               | (2,817.2 | )      |   |   | 3,903.4  |   |   |   | 1,807.6 |   |
| Less:      net earnings attributable to the                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |     |   |   |   |   |   |
| noncontrolling      interest                                                                                                    |   |               | (304.8   | )      |   |   | (318.4   | )      |   |   | (483.3 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      (Loss) Earnings Attributable to AXA Financial                                                                                                                                                                                                                                                                                                                                                                                 |   | $                  | (3,122.0 | )      |   | $      | 3,585.0  |   |   | $ | 1,324.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| Amounts      attributable to AXA Financial:                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |     |   |   |   |   |   |
| (Loss)      earnings from continuing operations,                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |
| net      of income      taxes                                                                                    |   | $                  | (3,106.9 | )      |   | $      | 3,607.0  |   |   | $ | 1,337.1 |   |
| Losses      from discontinued operations,                                                                                                                                                                                                                                                                                                                                                                                              |   |               |     |   |   |   |     |   |   |   |   |   |
| net      of income      taxes                                                                                    |   |               | (15.1    | )      |   |   | (29.5    | )      |   |   | (9.2 | ) |
| Gains      (losses) on disposal of discontinued                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| operations,      net of income      taxes                                                                        |   |               | -        |   |   |   | 7.5      |   |   |   | (3.6 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      (Loss)      Earnings                                                                          |   | $                  | (3,122.0 | )      |   | $      | 3,585.0  |   |   | $ | 1,324.3 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |
| EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |
| AXA      Financial, Inc. equity:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |     |   |   |   |     |   |   |
| Common      stock, at par value, beginning and end of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $                  | 3.9      |   |   | $      | 3.9      |   |   | $ | 3.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Capital      in excess of par value, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 1,298.9  |   |   |   | 1,250.0  |   |   |   | 1,122.4 |   |
| Purchase/issuance      of AllianceBernstein Units to noncontrolling      interest                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | (675.1   | )      |   |   | -        |   |   |   | - |   |
| Changes      in capital in excess of par value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | 25.1     |   |   |   | 48.9     |   |   |   | 127.6 |   |
| Capital      in excess of par value, end of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               | 648.9    |   |   |   | 1,298.9  |   |   |   | 1,250.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Retained      earnings, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               | 14,448.8 |   |   |   | 10,863.8 |   |   |   | 9,494.7 |   |
| Net      (loss) earnings attributable to AXA Financial, Inc                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | (3,122.0 | )      |   |   | 3,585.0  |   |   |   | 1,324.3 |   |
| Impact      of implementing new accounting guidance, net      of taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 74.3     |   |   |   | -        |   |   |   | 44.8 |   |
| Retained      earnings, end of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 11,401.1 |   |   |   | 14,448.8 |   |   |   | 10,863.8 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Accumulated      other comprehensive loss, beginning      of year                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | (2,854.4 | )      |   |   | (478.8   | )      |   |   | (378.9 | ) |
| Impact      of implementing new accounting guidance, net      of taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | (74.3    | )      |   |   | -        |   |   |   | - |   |
| Other      comprehensive income (loss) attributable to AXA      Financial, Inc                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | 1,582.3  |   |   |   | (2,375.6 | )      |   |   | (99.9 | ) |
| Accumulated      other comprehensive loss, end of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | (1,346.4 | )      |   |   | (2,854.4 | )      |   |   | (478.8 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Treasury      shares at cost, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               | (58.3    | )      |   |   | (116.9   | )      |   |   | (223.5 | ) |
| Changes      in treasury shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               | 24.0     |   |   |   | 58.6     |   |   |   | 106.6 |   |
| Treasury      shares at cost, end of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               | (34.3    | )      |   |   | (58.3    | )      |   |   | (116.9 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Total      AXA Financial, Inc. equity, end of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               | 10,673.2 |   |   |   | 12,838.9 |   |   |   | 11,522.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Noncontrolling      interest, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 1,662.6  |   |   |   | 1,681.2  |   |   |   | 1,631.6 |   |
| Purchase/issuance      of AllianceBernstein Units by noncontrolling      interest                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | 1,645.4  |   |   |   | 32.5     |   |   |   | 48.5 |   |
| Purchase      of AllianceBernstein Put                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 135.0    |   |   |   | -        |   |   |   | - |   |
| Net      earnings attributable to noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               | 304.8    |   |   |   | 318.4    |   |   |   | 483.3 |   |
| Dividends      paid to noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | (261.1   | )      |   |   | (382.7   | )      |   |   | (523.0 | ) |
| Capital      contributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | -        |   |   |   | 12.8     |   |   |   | - |   |
| Other      comprehensive income (loss) attributable to      noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 32.2     |   |   |   | (39.7    | )      |   |   | 16.8 |   |
| Other      changes in noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               | 48.8     |   |   |   | 40.1     |   |   |   | 24.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Noncontrolling      interest, end of      year                                                                                                                  |   |               | 3,567.7  |   |   |   | 1,662.6  |   |   |   | 1,681.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| Total      Equity, End of      Year                                                                                |   | $                  | 14,240.9 |   |   | $      | 14,501.5 |   |   | $ | 13,203.2 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | (In      Millions) |     |
| COMPREHENSIVE      (LOSS) INCOME                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |
| Net      (loss)      earnings                                                                                       |   | $                  | (2,817.2 | )      |   | $      | 3,903.4  |   |   | $ | 1,807.6 |   |
| Other      comprehensive (loss) income net of income taxes:                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Change      in unrealized gains (losses) net of                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |     |   |   |   |   |   |
| reclassification      adjustment                                                                                              |   |               | 1,647.7  |   |   |   | (1,753.7 | )      |   |   | (206.6 | ) |
| Defined      benefit plans:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      (loss) gain arising during      year                                                                                 |   |               | (99.4    | )      |   |   | (710.4   | )      |   |   | 68.8 |   |
| Prior      service cost arising during      year                                                                              |   |               | -        |   |   |   | 14.7     |   |   |   | 1.7 |   |
| Less:      reclassification adjustment for:                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Amortization      of net losses included in net periodic cost                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | 80.3     |   |   |   | 38.6     |   |   |   | 54.4 |   |
| Amortization      of net prior service credit                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |     |   |   |   |     |   |   |   |   |   |
| included      in net periodic      cost                                                                                                                     |   |               | (3.4     | )      |   |   | (4.4     | )      |   |   | (1.3 | ) |
| Amortization      of net transition      asset                                                                                               |   |               | -        |   |   |   | (.1      | )      |   |   | (.1 | ) |
| Other                                                                                                                                        |   |               | (10.7    | )      |   |   | -        |   |   |   | - |   |
| Other      comprehensive (loss) income – defined benefit plans                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | (33.2    | )      |   |   | (661.6   | )      |   |   | 123.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |     |   |   |   |   |   |
| Comprehensive      (loss)      income                                                                               |   |               | (1,202.7 | )      |   |   | 1,488.1  |   |   |   | 1,724.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |     |   |   |   |   |   |
| Comprehensive      income attributable to noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |               | (337.0   | )      |   |   | (278.7   | )      |   |   | (500.1 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |     |   |   |   |   |   |
| Comprehensive      (Loss) Income Attributable to                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |     |   |   |   |   |   |
| AXA      Financial      Inc.                                                                                                  |   | $                  | (1,539.7 | )      |   | $      | 1,209.4  |   |   | $ | 1,224.4 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |      |   | 2008   |   |     | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|-----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      Millions) |      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |
| Net      (loss)      earnings                                                                                                   |   | $                  | (2,817.2  | )      |   | $      | 3,903.4  |   |   | $ | 1,807.6 |   |
| Adjustments      to reconcile net (loss) earnings to net cash provided by operating      activities:                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |   |   |   |     |   |   |   |   |   |
| Interest      credited to policyholders’ account balances                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | 1,137.5   |   |   |   | 1,202.8  |   |   |   | 1,192.3 |   |
| Universal      life and investment-type product                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |      |   |   |   |     |   |   |   |   |   |
| policy      fee income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               | (3,118.2  | )      |   |   | (3,175.0 | )      |   |   | (2,973.1 | ) |
| Net      change in broker-dealer and customer                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               |      |   |   |   |     |   |   |   |   |   |
| related      receivables/payables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | (1,308.6  | )      |   |   | 618.2    |   |   |   | 91.5 |   |
| Change      in investment income related to derivative      instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | 6,955.4   |   |   |   | (6,753.5 | )      |   |   | (67.5 | ) |
| Investment      losses (gains), net                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 64.0      |   |   |   | 467.5    |   |   |   | 30.1 |   |
| Change      in segregated cash and securities, net                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 1,586.8   |   |   |   | (202.6   | )      |   |   | (360.2 | ) |
| Change      in deferred policy acquisition costs and value of business      acquired                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | (1,064.2  | )      |   |   | 1,537.0  |   |   |   | (588.6 | ) |
| Change      in future policy benefits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               | (688.6    | )      |   |   | 2,677.6  |   |   |   | 139.6 |   |
| Change      in income taxes payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               | (1,845.5  | )      |   |   | 1,218.8  |   |   |   | 617.5 |   |
| Change      in fair value of guaranteed minimum income benefit reinsurance      contracts                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | 1,004.6   |   |   |   | (1,860.6 | )      |   |   | (6.9 | ) |
| Amortization      of deferred sales commission                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | 54.9      |   |   |   | 79.1     |   |   |   | 95.5 |   |
| Other      depreciation and amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 230.7     |   |   |   | 189.6    |   |   |   | 207.5 |   |
| Amortization      of other intangible assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               | 39.2      |   |   |   | 38.9     |   |   |   | 68.6 |   |
|    (Gains)      losses on disposal of discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | -         |   |   |   | (7.5     | )      |   |   | 3.6 |   |
| Other,      net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | 38.9      |   |   |   | 89.5     |   |   |   | (64.0 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |   |   |   |     |   |   |   |   |   |
| Net      cash provided by operating      activities                                                                             |   |               | 269.7     |   |   |   | 23.2     |   |   |   | 193.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |   |   |   |     |   |   |   |   |   |
| Cash      flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |      |   |   |   |     |   |   |   |   |   |
| Maturities      and repayments of fixed maturities and mortgage      loans on real estate                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               | 2,861.9   |   |   |   | 2,594.0  |   |   |   | 3,078.7 |   |
| Sales      of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | 15,237.1  |   |   |   | 983.7    |   |   |   | 2,726.9 |   |
| Purchases      of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               | (22,667.5 | )      |   |   | (4,924.2 | )      |   |   | (4,527.5 | ) |
| Cash      settlements related to derivative instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               | (4,896.3  | )      |   |   | 5,018.0  |   |   |   | (80.5 | ) |
| Change      in short-term investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               | 148.6     |   |   |   | (.5      | )      |   |   | (24.6 | ) |
| Purchase      of minority interest in consolidated subsidiary                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               | -         |   |   |   | -        |   |   |   | (745.7 | ) |
| Decrease      in loans to affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | 10.0      |   |   |   | -        |   |   |   | 400.0 |   |
| Increase      in loans to affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               | (512.0    | )      |   |   | (506.0   | )      |   |   | (704.0 | ) |
| Change      in capitalized software, leasehold improvements and EDP      equipment                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | (130.1    | )      |   |   | (175.8   | )      |   |   | (217.0 | ) |
| Other,      net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | 52.0      |   |   |   | 224.9    |   |   |   | 43.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |   |   |   |     |   |   |   |   |   |
| Net      cash (used in) provided by investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | (9,896.3  | )      |   |   | 3,214.1  |   |   |   | (50.6 | ) |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |
| Cash      flows from financing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |     |   |   |   |     |   |   |
| Policyholders’      account balances:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |   |   |     |   |   |
| Deposits                                                                                                                                            |   | $                  | 3,696.5  |   |   | $      | 4,766.5  |   |   | $ | 4,716.3 |   |
| Withdrawals      and transfers to Separate Accounts                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |               | (2,575.8 | )      |   |   | (3,152.2 | )      |   |   | (4,591.3 | ) |
| Sale      of Alliance Bernstein      Units                                                                                                |   |               | 600.0    |   |   |   | -        |   |   |   | - |   |
| Proceeds      from loans from      affiliates                                                                                             |   |               | 5,472.6  |   |   |   | 3,250.0  |   |   |   | 850.0 |   |
| Repayment      of loans from      affiliates                                                                                              |   |               | (4,590.0 | )      |   |   | (65.0    | )      |   |   | (785.0 | ) |
| Change      in short-term      financings                                                                                                 |   |               | (45.8    | )      |   |   | (506.5   | )      |   |   | 198.2 |   |
| Repayments      of long-term      debt                                                                                                    |   |               | -        |   |   |   | (250.0   | )      |   |   | - |   |
| Increase      in securities sold under agreements to repurchase                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | 1,495.1  |   |   |   | -        |   |   |   | - |   |
| Increase      in collateralized pledged      assets                                                                                       |   |               | (894.0   | )      |   |   | -        |   |   |   | - |   |
| (Decrease)      increase in collateralized pledged liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               | (409.0   | )      |   |   | 1,103.8  |   |   |   | - |   |
| Purchases      of treasury      shares                                                                                                    |   |               | (4.2     | )      |   |   | (11.2    | )      |   |   | (7.6 | ) |
| Other,      net                                                                                                                           |   |               | (141.3   | )      |   |   | (367.3   | )      |   |   | (239.3 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash provided by financing      activities                                                                             |   |               | 2,604.1  |   |   |   | 4,768.1  |   |   |   | 141.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Change      in cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | (7,022.5 | )      |   |   | 8,005.4  |   |   |   | 284.2 |   |
| Cash      and cash equivalents, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               | 10,061.2 |   |   |   | 2,055.8  |   |   |   | 1,771.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Cash      and Cash Equivalents, End of Year                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $                  | 3,038.7  |   |   | $      | 10,061.2 |   |   | $ | 2,055.8 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Supplemental      cash flow information:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |     |   |   |   |     |   |   |   |   |   |
| Interest      Paid                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                  | 103.6    |   |   | $      | 129.4    |   |   | $ | 155.6 |   |
| Income      Taxes (Refunded) Paid                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $                  | (38.5    | )      |   | $      | 260.1    |   |   | $ | 154.9 |   |

----

| 1) | ORGANIZATION |
|----|--------------|

----

| 2) | SIGNIFICANT      ACCOUNTING POLICIES |
|----|--------------------------------------|

----

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

| ·   | 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 noncontrollinginterests. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | The      acquirer will recognize 100% of the fair values of acquired assets and      assumed liabilities (with few exceptions) upon initially obtaining control      of the target company, and any noncontrolling  interest; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Contingent      consideration will be included in the purchase price consideration on a      fair value basis while transaction costs will be expensed as incurred;      and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Costs      expected to be incurred to effect a restructuring plan will be recognized      as post-combination expenses. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

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| 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. |

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| ·   | Management      having the authority to approve the action commits the organization to a      plan to sell the property. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------|

| ·   | The      property is available for immediate sale in its present condition subject      only to terms that are usual and customary for the sale of such      assets. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | An      active program to locate a buyer and other actions required to complete      the plan to sell the asset have been initiated and are      continuing. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      sale of the asset is probable and transfer of the asset is expected to      qualify for recognition as a completed sale within one    year. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      asset is being actively marketed for sale at a price that is reasonable in      relation to its current fair value. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------|

| ·   | Actions      required to complete the plan indicate that it is unlikely that      significant changes to the plan will be made or that the plan will be      withdrawn. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

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

|                                                                                                                                                                                                                                                                                     |   | AmortizedCost      |     |   | GrossUnrealizedGains |   |    | GrossUnrealizedLosses |   |   |        Fair      Value |   |   | OTTIin      AOCI (3) |     |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|----------------------|--------|---------|-----------------------|--------|--------|-----------------------------|--------|--------|----------------------|----------|
|                                                                                                                                                                                                                                                                                     |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                     |   |               |     |   |                 |   |    |                  |   |   |                        |   |   |                 |     |
| December 31, 2009:                                                                                                                                                                                                                                                                       |   |               |     |   |                 |   |    |                  |   |   |                        |   |   |                 |     |
| Fixed      Maturities:                                                                                                                                                                                                                                                                   |   |               |     |   |                 |   |    |                  |   |   |                        |   |   |                 |     |
| Corporate                                                                                                                                                                                                                                                                                |   | $                  | 27,863.3 |   |                 | $      | 1,353.5 |                  |   | $      | 291.8                       |   |   | $                    | 28,925.0 |   |   | $ | .7 |   |
| U.S.      Treasury, government and agency                                                                                                                                                                                                                                                |   |               | 4,213.5  |   |                 |   | 23.2    |                  |   |   | 281.2                       |   |   |                 | 3,955.5  |   |   |   | - |   |
| States      and political subdivisions                                                                                                                                                                                                                                                   |   |               | 467.3    |   |                 |   | 7.4     |                  |   |   | 19.3                        |   |   |                 | 455.4    |   |   |   | - |   |
| Foreign      governments                                                                                                                                                                                                                                                                 |   |               | 325.8    |   |                 |   | 35.4    |                  |   |   | .3                          |   |   |                 | 360.9    |   |   |   | - |   |
| Commercial      mortgage-backed                                                                                                                                                                                                                                                          |   |               | 2,439.1  |   |                 |   | 2.2     |                  |   |   | 659.1                       |   |   |                 | 1,782.2  |   |   |   | 2.2 |   |
| Residential      mortgage-backed (1)                                                                                                                                                                                                                                                     |   |               | 2,456.0  |   |                 |   | 59.8    |                  |   |   | .2                          |   |   |                 | 2,515.6  |   |   |   | - |   |
| Asset-backed      (2)                                                                                                                                                                                                                                                                    |   |               | 304.7    |   |                 |   | 11.5    |                  |   |   | 23.1                        |   |   |                 | 293.1    |   |   |   | 7.9 |   |
| Redeemable      preferred stock                                                                                                                                                                                                                                                          |   |               | 2,145.5  |   |                 |   | 8.5     |                  |   |   | 310.1                       |   |   |                 | 1,843.9  |   |   |   | - |   |
| Total      Fixed Maturities                                                                                                                                                                                                                                                              |   |               | 40,215.2 |   |                 |   | 1,501.5 |                  |   |   | 1,585.1                     |   |   |                 | 40,131.6 |   |   |   | 10.8 |   |
|                                                                                                                                                                                                                                                                                     |   |               |     |   |                 |   |    |                  |   |   |                        |   |   |                 |     |   |   |   |   |   |
| Equity      securities                                            |   |               | 48.5     |   |                 |   | 9.8     |                  |   |   | -                           |   |   |                 | 58.3     |   |   |   | - |   |
|                                                                                                                                                                                                                                                                                     |   |               |     |   |                 |   |    |                  |   |   |                        |   |   |                 |     |   |   |   |   |   |
| Total      at December 31, 2009                                                                                                                                                                                                                                                     |   | $                  | 40,263.7 |   |                 | $      | 1,511.3 |                  |   | $      | 1,585.1                     |   |   | $                    | 40,189.9 |   |   | $ | 10.8 |   |

| December 31, 2008                                                                                                                                                                                                                                                                        |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|----------|--------|
| Fixed      Maturities:                                                                                                                                                                                                                                                                   |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |
| Corporate                                                                                                                                                                                                                                                                                |   | $      | 26,238.2 |   |   | $      | 280.3  |   |   | $      | 2,344.2 |   |   | $      | 24,174.3 |   |   |   |   |   |
| U.S.      Treasury, government and agency                                                                                                                                                                                                                                                |   |   | 2,600.1  |   |   |   | 337.4  |   |   |   | .3      |   |   |   | 2,937.2  |   |   |   |   |   |
| States      and political subdivisions                                                                                                                                                                                                                                                   |   |   | 204.7    |   |   |   | 12.0   |   |   |   | 10.4    |   |   |   | 206.3    |   |   |   |   |   |
| Foreign      governments                                                                                                                                                                                                                                                                 |   |   | 269.9    |   |   |   | 42.7   |   |   |   | 5.7     |   |   |   | 306.9    |   |   |   |   |   |
| Commercial      mortgage-backed                                                                                                                                                                                                                                                          |   |   | 2,793.4  |   |   |   | 4.0    |   |   |   | 707.8   |   |   |   | 2,089.6  |   |   |   |   |   |
| Residential      mortgage-backed (1)                                                                                                                                                                                                                                                     |   |   | 1,893.3  |   |   |   | 67.0   |   |   |   | .5      |   |   |   | 1,959.8  |   |   |   |   |   |
| Asset-backed      (2)                                                                                                                                                                                                                                                                    |   |   | 388.2    |   |   |   | 12.2   |   |   |   | 38.1    |   |   |   | 362.3    |   |   |   |   |   |
| Redeemable      preferred stock                                                                                                                                                                                                                                                          |   |   | 2,294.0  |   |   |   | 1.0    |   |   |   | 915.5   |   |   |   | 1,379.5  |   |   |   |   |   |
| Total      Fixed Maturities                                                                                                                                                                                                                                                         |   |   | 36,681.8 |   |   |   | 756.6  |   |   |   | 4,022.5 |   |   |   | 33,415.9 |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                     |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |   |   |   |   |
| Equity      securities                                            |   |   | 35.9     |   |   |   | -      |   |   |   | 4.8     |   |   |   | 31.1     |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                     |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |   |   |   |   |
| Total      at December 31, 2008                                                                                                                                                                                                                                                          |   | $      | 36,717.7 |   |   | $      | 756.6  |   |   | $      | 4,027.3 |   |   | $      | 33,447.0 |   |   |   |   |   |

| (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 as a      result of the adoption of new guidance on April 1,  2009. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                        | Available      for Sale |   |
|---------------------------------------------|-------------------------|--------|
|                                        | Amortized               |   |   |   |
|                                        | Cost                    |   | Fair      Value |   |
|                                        | (In      Millions)      |   |
|                                        |                    |   |
| Due      in one year or less                |                    | $      | 1,176.0 |   |   | $ | 1,205.6 |   |
| Due      in years two through five          |                    |   | 13,062.8 |   |   |   | 13,632.3 |   |
| Due      in years six through ten           |                    |   | 13,267.2 |   |   |   | 13,584.6 |   |
| Due      after ten years                    |                    |   | 5,363.9 |   |   |   | 5,274.2 |   |
| Subtotal                                    |                    |   | 32,869.9 |   |   |   | 33,696.7 |   |
| Commercial      mortgage-backed bonds  |                    |   | 2,439.1 |   |   |   | 1,782.2 |   |
| Residential      mortgage-backed bonds      |                    |   | 2,456.0 |   |   |   | 2,515.6 |   |
| Asset-backed      bonds                     |                    |   | 304.7 |   |   |   | 293.1 |   |
| Total                                       |                    | $      | 38,069.7 |   |   | $ | 38,287.6 |   |

| Balance      at March 31, 2009                                                                    |   | $      | -           |   |
|---------------------------------------------------------------------------------------------------|--------|--------|-------------|--------|
| Cumulative      adjustment related to implementing new guidance on April 1,      2009             |   |   | (197.2)     |   |
| Impact      of consolidation of Wind-up Annuities business                              |   |   | (5.6)       |   |
| Previously      recognized impairments on securities that matured, paid, prepaid or      sold     |   |   | 186.9  |   |
| Previously      recognized impairments on securities impaired to fair value this period      (1)  |   |   | -           |   |
| Impairments      recognized this period on securities not previously    impaired                  |   |   | (254.0)     |   |
| Additional      impairments this period on securities previously      impaired               |   |   | (22.1)      |   |
| 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 December 31, 2009                                                  |   | $      | (292.0)     |   |

| (1) |   | Represents      circumstances where the Insurance Group 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. |
|-----|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | December      31,  |   | December      31, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|-------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 2009               |   | 2008              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |               |   |
| AFS      Securities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |               |   |              |   |   |   |   |
| Fixed      maturities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |               |   |              |   |   |   |   |
| With      OTTI      loss                                                                                                                         |               | $      | (13.0             | )      |   |   | $ | - |   |
| All      other                                                                                                                                   |               |   | (70.6             | )      |   |   |   | (3,265.9 | ) |
| Equity      securities                                                                                                                 |               |   | 9.8               |   |   |   |   | (4.8 | ) |
| Net      Unrealized      Losses                                                                                         |               | $      | (73.8             | )      |   |   | $ | (3,270.7 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |               |   |              |   |   |   |   |   |   |

|                                                                 |   |               |          |   |         |   |   |          |   |   |        |   |   | AOCI                |   |
|----------------------------------------------------------------------|--------|--------------------|---------------|--------|--------------|--------|--------|---------------|--------|--------|-------------|--------|--------|---------------------|--------|
|                                                                 |   | Net                |          |   |         |   |   |          |   |   | Deferred    |   |   | (Loss)              |   |
|                                                                 |   | Unrealized         |          |   |         |   |   |          |   |   | Income      |   |   | Related      to Net |   |
|                                                                 |   | Gains              |          |   |         |   |   |          |   |   | Tax         |   |   | Unrealized          |   |
|                                                                 |   | (Losses)      on   |          |   | DAC      and |   |   | Policyholders |   |   | (Liability) |   |   | Investment          |   |
|                                                                 |   | Investments        |          |   | VOBA         |   |   | Liabilities   |   |   | Asset       |   |   | Gains      (Losses) |   |
|                                                                 |   | (In      Millions) |          |
|                                                                 |   |               |          |   |         |   |   |          |   |   |        |   |   |                |   |
| Balance,      January 1, 2009                                        |   | $                  | -             |   |         | $      | -      |          |   | $      | -           |   |   | $                   | -      |   |   | $ | - |   |
| Cumulative impact of implementing new guidance on April 1,      2009 |   |               | (7.0          | )      |         |   | .8     |          |   |   | -           |   |   |                | 2.2    |   |   |   | (4.0 | ) |
| Net      investment gains (losses) arising during the period         |   |               | (23.0         | )      |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (23.0 | ) |
| Reclassification      adjustment for OTTI (losses):                  |   |               |          |   |         |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| Included      in Net (loss) earnings                                 |   |               | 22.1          |   |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | 22.1 |   |
| Excluded      from Net (loss)      earnings (1)                 |   |               | (5.1          | )      |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (5.1 | ) |
| Impact      of net unrealized investment gains (losses) on:          |   |               |          |   |         |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| DAC      and VOBA                                                    |   |               | -             |   |         |   | 5.4    |          |   |   | -           |   |   |                | -      |   |   |   | 5.4 |   |
| Deferred      income taxes                                           |   |               | -             |   |         |   | -      |          |   |   | -           |   |   |                | .4     |   |   |   | .4 |   |
| Policyholders      liabilities                                       |   |               | -             |   |         |   | -      |          |   |   | (.6         | )      |   |                | -      |   |   |   | (.6 | ) |
| Impact      of consolidation of Wind-up      Annuities business      |   |               |        - |   |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | - |   |
| Balance,      December 31, 2009                                      |   | $                  | (13.0         | )      |         | $      | 6.2    |          |   | $      | (.6         | )      |   | $                   | 2.6    |   |   | $ | (4.8 | ) |

|   | (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   |     |   | DAC      and |   |   | Policyholders |   |   | (Liability) |   |   | Investment          |   |
|                                                                                                                                                                                                                                                                                                       |   | Investments        |     |   | VOBA         |   |   | Liabilities   |   |   | Asset       |   |   | Gains      (Losses) |   |
|                                                                                                                                                                                                                                                                                                       |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                       |   |               |     |   |         |   |   |          |   |   |        |   |   |                |   |
| Balance,      January 1,      2009                                             |   | $                  | (3,270.7 | )      |         | $      | 721.0  |          |   | $      | 103.3       |   |   | $                   | 899.3  |   |   | $ | (1,547.1 | ) |
| Cumulative      impact of implementing new guidance on April 1, 2009                                                                                                                                                                                                                                       |   |               | (142.4   | )      |         |   | 34.3   |          |   |   | -           |   |   |                | 37.8   |   |   |   | (70.3 | ) |
| Net      investment gains (losses) arising during the period                                                                                                                                                                                                                                               |   |               | 3,508.9  |   |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | 3,508.9 |   |
| Reclassification      adjustment for OTTI (losses):                                                                                                                                                                                                                                                        |   |               |     |   |         |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| Included      in Net (loss) earnings                                                                                                                                                                                                                                                                       |   |               | (102.1   | )      |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (102.1 | ) |
| Excluded      from Net (loss)      earnings (1)                                                                                                                                                                                                                                                            |   |               | 5.1      |   |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | 5.1 |   |
| Impact      of net unrealized investment gains (losses) on:                                                                                                                                                                                                                                                |   |               |     |   |         |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| DAC      and VOBA                                                                                                                                                                                                                                                                      |   |               |     |   |         |   | (785.7 | )             |   |   | -           |   |   |                | -      |   |   |   | (785.7 | ) |
| Deferred      income taxes                                                                                                                                                                                                                                                                       |   |               |     |   |         |   | -      |          |   |   | -           |   |   |                | (896.9 | ) |   |   | (896.9 | ) |
| Policyholders      liabilities                                                                                                                                                                                                                                                                             |   |               |     |   |         |   | -      |          |   |   | (171.6      | )      |   |                | -      |   |   |   | (171.6 | ) |
| Impact      of consolidation of Wind-up      Annuities business                                                                                                                                                                                                                                            |   |               | (59.6    | )      |         |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (59.6 | )  |
| Balance,      December 31, 2009                                                                                                                                                                                                                                                                            |   | $                  | (60.8    | )      |         | $      | (30.4  | )             |   | $      | (68.3       | )      |   | $                   | 40.2   |   |   | $ | (119.3 | ) |

| (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. |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                              |   | December      31, 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                             |   | $                            | 3,224.3 |   |   | $ | (109.0 | ) |   | $ | 2,214.6 |   |   | $ | (182.8 | ) |   | $ | 5,438.9 |   |   | $ | (291.8 | ) |
| U.S.      Treasury, government and agency                                                                                                                                         |   |                         | 3,297.4 |   |   |   | (281.2 | ) |   |   | - |   |   |   | - |   |   |   | 3,297.4 |   |   |   | (281.2 | ) |
| States      and political subdivisions                                                                                                                                            |   |                         | 262.0   |   |   |   | (14.5 | ) |   |   | 38.0 |   |   |   | (4.8 | ) |   |   | 300.0 |   |   |   | (19.3 | ) |
| Foreign      governments                                                                                                                                                          |   |                         | 42.9    |   |   |   | (.3 | ) |   |   | 5.1 |   |   |   | - |   |   |   | 48.0 |   |   |   | (.3 | ) |
| Commercial      mortgage-backed                                                                                                                                                   |   |                         | 208.8   |   |   |   | (137.8 | ) |   |   | 1,466.0 |   |   |   | (521.3 | ) |   |   | 1,674.8 |   |   |   | (659.1 | ) |
| Residential      mortgage-backed                                                                                                                                                  |   |                         | 54.0    |   |   |   | - |   |   |   | 2.4 |   |   |   | (.2 | ) |   |   | 56.4 |   |   |   | (.2 | ) |
| Asset-backed                                                                                                                                                                      |   |                         | 51.7    |   |   |   | (6.1 | ) |   |   | 84.1 |   |   |   | (17.0 | ) |   |   | 135.8 |   |   |   | (23.1 | ) |
| Redeemable      preferred stock                                                                                                                                                   |   |                         | 293.0   |   |   |   | (91.2 | ) |   |   | 1,368.7 |   |   |   | (218.9 | ) |   |   | 1,661.7 |   |   |   | (310.1 | ) |
|                                                                                                                                                                              |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                           |   | $                            | 7,434.1 |   |   | $ | (640.1 | ) |   | $ | 5,178.9 |   |   | $ | (945.0 | ) |   | $ | 12,613.0 |   |   | $ | (1,585.1 | ) |

| (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      new guidance on April 1, 2009. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                              |   | 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                             |   | $                        | 12,660.7 |   |   | $ | (1,286.7 | ) |   | $ | 5,091.0 |   |   | $ | (1,057.6 | ) |   | $ | 17,751.7 |   |   | $ | (2,344.3 | ) |
| U.S.      Treasury, government and agency                                                                                                                                    |   |                     | 262.5    |   |   |   | (.3 | ) |   |   | - |   |   |   | - |   |   |   | 262.5 |   |   |   | (.3 | ) |
| States      and political subdivisions                                                                                                                                            |   |                     | 63.4     |   |   |   | (7.8 | ) |   |   | 28.5 |   |   |   | (2.6 | ) |   |   | 91.9 |   |   |   | (10.4 | ) |
| Foreign      governments                                                                                                                                                          |   |                     | 70.9     |   |   |   | (5.7 | ) |   |   | - |   |   |   | - |   |   |   | 70.9 |   |   |   | (5.7 | ) |
| Commercial      mortgage-backed                                                                                                                                              |   |                     | 380.6    |   |   |   | (26.2 | ) |   |   | 1,685.5 |   |   |   | (681.6 | ) |   |   | 2,066.1 |   |   |   | (707.8 | ) |
| Residential      mortgage-backed                                                                                                                                                  |   |                     | .3       |   |   |   | - |   |   |   | 3.9 |   |   |   | (.5 | ) |   |   | 4.2 |   |   |   | (.5 | ) |
| Asset-backed                                                                                                                                                                      |   |                     | 80.0     |   |   |   | (7.2 | ) |   |   | 85.5 |   |   |   | (30.9 | ) |   |   | 165.5 |   |   |   | (38.1 | ) |
| Redeemable      preferred stock                                                                                                                                                   |   |                     | 486.6    |   |   |   | (326.1 | ) |   |   | 834.7 |   |   |   | (589.4 | ) |   |   | 1,321.3 |   |   |   | (915.5 | ) |
|                                                                                                                                                                              |   |                     |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                           |   | $                        | 14,005.0 |   |   | $ | (1,660.0 | ) |   | $ | 7,729.1 |   |   | $ | (2,362.6 | ) |   | $ | 21,734.1 |   |   | $ | (4,022.6 | ) |

----

----

|                                                                                        | December      31,  |   |
|---------------------------------------------------------------------------------------------|--------------------|--------|
|                                                                                        | 2009               |   | 2008 |   |
|                                                                                        | (In      Millions) |   |
|                                                                                        |               |   |
| Impaired      mortgage loans with investment valuation allowances                           |               | $      | 110.5 |   |   | $ | - |   |
| Impaired      mortgage loans without investment valuation allowances                        |               |   | - |   |   |   | .3 |   |
| Recorded      investment in impaired mortgage loans                                         |               |   | 110.5 |   |   |   | .3 |   |
| Investment      valuation allowances                                                   |               |   | (18.3 | ) |   |   | - |   |
| Net      Impaired Mortgage      Loans          |               | $      | 92.2 |   |   | $ | .3 |   |

|                                                                                                           |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                           |   | (In      Millions) |   |
|                                                                                                           |   |               |   |
| Balances,      beginning of year                                                                          |   | $                  | -      |   |   | $      | 1.4    |   |   | $ | 22.6 |   |
| Additions      charged to income                                                                          |   |               | 18.8   |   |   |   | -      |   |   |   | 20.9 |   |
| Deductions      for writedowns and asset      dispositions                                                     |   |               | -      |   |   |   | (1.4   | )      |   |   | (42.1 | ) |
| Deduction      for transfer of real estate held-for-sale to real estate held for the      production of income |   |               | (.5    | )      |   |   | -      |   |   |   | - |   |
| Balances,      End of Year                                                                                |   | $                  | 18.3   |   |   | $      | -      |   |   | $ | 1.4 |   |
|                                                                                                           |   |               |   |   |   |   |   |   |   |   |   |   |
| Balances,      end of year comprise:                                                                           |   |               |   |   |   |   |   |   |   |   |   |   |
| Mortgage      loans on real estate                                                                             |   | $                  | 18.3   |   |   | $      | -      |   |   | $ | 1.4 |   |
| Equity      real estate                                                                                   |   |               | -      |   |   |   | -      |   |   |   | - |   |
| Total                                                                                      |   | $                  | 18.3   |   |   | $      | -      |   |   | $ | 1.4 |   |

----

|                                                                                              |   | December      31,  |   |
|---------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                              |   | 2009               |   |   | 2008 |   |
|                                                                                              |   | (In      Millions) |   |
|                                                                                              |   |               |   |
| BALANCE      SHEETS                                                                               |   |               |   |   |   |   |
| Investments      in real estate, at depreciated cost                               |   | $                  | 571.5  |   |   | $ | 484.5 |   |
| Investments      in securities, generally at fair value                                           |   |               | 106.8  |   |   |   | 275.7 |   |
| Cash      and cash equivalents                                                               |   |               | 22.9   |   |   |   | 8.9 |   |
| Other      assets                                                                            |   |               | .8     |   |   |   | 24.0 |   |
| Total      Assets                                                                            |   | $                  | 702.0  |   |   | $ | 793.1 |   |
|                                                                                              |   |               |   |   |   |   |   |   |
| Borrowed      funds - third party                                                            |   | $                  | 309.5  |   |   | $ | 190.3 |   |
| Other      liabilities                                                                       |   |               | 59.8   |   |   |   | 280.3 |   |
| Total      liabilities                                                                            |   |               | 369.3  |   |   |   | 470.6 |   |
|                                                                                              |   |               |   |   |   |   |   |   |
| Partners’      capital                                                                 |   |               | 332.7  |   |   |   | 322.5 |   |
| Total      Liabilities and Partners’ Capital                                           |   | $                  | 702.0  |   |   | $ | 793.1 |   |
|                                                                                              |   |               |   |   |   |   |   |   |
| AXA      Financial Group’s Carrying Value in Those Entities Included      Above   |   | $                  | 165.6  |   |   | $ | 143.0 |   |

|                                                                                                 |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                 |   | (In      Millions) |   |
|                                                                                                 |   |               |   |
| STATEMENTS      OF EARNINGS                                                                          |   |               |   |   |   |   |   |   |   |
| Revenues      of real estate joint ventures                                                |   | $                  | 39.9   |   |   | $      | 92.3   |   |   | $ | 78.7 |   |
| Net      revenues of other limited partnership interests                                             |   |               | (5.4   | )      |   |   | (1.2   | )      |   |   | 45.5 |   |
| Interest      expense - third party                                                   |   |               | (6.8   | )      |   |   | (14.1  | )      |   |   | (18.2 | ) |
| Other      expenses                                                                             |   |               | (93.6  | )      |   |   | (92.2  | )      |   |   | (67.4 | ) |
| Net      (Loss) Earnings                                                                             |   | $                  | (65.9  | )      |   | $      | (15.2  | )      |   | $ | 38.6 |   |
|                                                                                                 |   |               |   |   |   |   |   |   |   |   |   |   |
| AXA      Financial Group’s Equity in Net (Loss) Earnings of Those Entities      Included Above |   | $                  | (22.2  | )      |   | $      | 1.4    |   |   | $ | 24.3 |   |

----

|                                   |   |  Notional      Amount |     |                   | Fair      Value                       |   |                       |  Gains      (Losses) Reported In Net (Loss) Earnings |   |
|----------------------------------------|--------|----------------------------|----------|------------------------|---------------------------------------|--------|----------------------------|-----------------------------------------------------------|--------|
|                                   |   |                       |     | Asset      Derivatives |                                  |   | Liability      Derivatives |                                                      |   |   |
|                                   |   |                       |     |                   |          (In Millions) |   |                       |                                                      |   |
| Freestanding      derivatives:         |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |
| Equity      contracts(1):              |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |
| Futures                                |   | $                          | 8,250.3  |                   |                                  | $      | -                          |                                                      |   | $ | - |   |   | $ | (2,627.0 | ) |
| Swaps                                  |   |                       | 1,573.9  |                   |                                  |   | 2.1                        |                                                      |   |   | 28.7 |   |   |   | (532.9 | ) |
| Options                                |   |                       | 11,650.0 |                   |                                  |   | 920.1                      |                                                      |   |   | 1,138.6 |   |   |   | (817.6 | ) |
|                                   |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| Interest      rate contracts (1): |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| Floors                                 |   |                       | 15,000.0 |                   |                                  |   | 299.6                      |                                                      |   |   | - |   |   |   | (128.2 | ) |
| Swaps                                  |   |                       | 8,707.0  |                   |                                  |   | 101.8                      |                                                      |   |   | 235.8 |   |   |   | (440.9 | ) |
| Futures                                |   |                       | 6,785.1  |                   |                                  |   | -                          |                                                      |   |   | - |   |   |   | (2,278.0 | ) |
| Swaptions                              |   |                       | 1,200.0  |                   |                                  |   | 44.6                       |                                                      |   |   | - |   |   |   | (16.8 | ) |
|                                   |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| Other      freestanding contracts (2): |   |                       | 3,872.6  |                   |                                  |   | -                          |                                                      |   |   | 112.9 |   |   |   | (114.0 | ) |
|                                   |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| Net      investment loss               |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   | (6,955.4 | ) |
|                                   |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| Embedded      derivatives:             |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| GMIB      reinsurance contracts(2)     |   |                       | -        |                   |                                  |   | 980.6                      |                                                      |   |   | - |   |   |   | (1,004.6 | ) |
|                                   |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| GWBL      features (3)                 |   |                       | -        |                   |                                  |   | -                          |                                                      |   |   | 54.9 |   |   |   | 217.7 |   |
|                                   |   |                       |     |                   |                                  |   |                       |                                                      |   |   |   |   |   |   |   |   |
| Balances,      December 31, 2009       |   | $                          | 57,038.9 |                   |                                  | $      | 2,348.8                    |                                                      |   | $ | 1,570.9 |   |   | $ | (7,742.3 | ) |

| (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) | GOODWILL      AND OTHER INTANGIBLE ASSETS |
|----|-------------------------------------------|

|                                | Gross              |   |         |   |   |   |   |   |
|-------------------------------------|--------------------|--------|--------------|--------|--------|--------|--------|--------|
|                                | Carrying           |   | Accumulated  |   |   |   |   |   |
|                                | Amount             |   | Amortization |   |   |   | Net    |   |
|                                | (In      Millions) |   |
| December 31, 2009                   |               |   |         |   |   |   |   |   |
| VOBA                                | $                  | 868.8  |         | $      | (420.5 | )      | (1)    |   | $ | 448.3 |   |
| Insurance      distribution network |               | 26.0   |         |   | (12.6  | )      |   |   |   | 13.4 |   |
| Total                               | $                  | 894.8  |         | $      | (433.1 | )      |   |   | $ | 461.7 |   |
|                                |               |   |         |   |   |   |   |   |   |   |   |
| December 31, 2008                   |               |   |         |   |   |   |   |   |   |   |   |
| VOBA                                | $                  | 868.8  |         | $      | (202.3 | )      | (1)    |   | $ | 666.5 |   |
| Insurance      distribution network |               | 26.0   |         |   | (10.3  | )      |   |   |   | 15.7 |   |
| Total                               | $                  | 894.8  |         | $      | (212.6 | )      |   |   | $ | 682.2 |   |
|                                |               |   |         |   |   |   |   |   |   |   |   |

----

----

| 5) | CLOSED      BLOCKS |
|----|--------------------|

|                                                                                                                   |   | December      31,  |    |
|------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                                                   |   | 2009               |    |   | 2008 |   |
|                                                                                                                   |   | (In      Millions) |    |
|                                                                                                                   |   |               |    |   |   |   |
| CLOSED      BLOCK LIABILITIES:                                                                                         |   |               |    |   |   |   |
| Future      policy benefits, policyholders’ account balances and other                                           |   | $                  | 8,411.7 |   |   | $ | 8,544.8 |   |
| Other      liabilities                                                         |   |               | 69.8    |   |   |   | 71.3 |   |
| Total      Closed Block liabilities                                                                                    |   |               | 8,481.5 |   |   |   | 8,616.1 |   |
|                                                                                                                   |   |               |    |   |   |   |   |   |
| ASSETS      DESIGNATED TO THE CLOSED BLOCK:                                                                            |   |               |    |   |   |   |   |   |
| Fixed      maturities, available for sale, at fair value (amortized cost of $5,575.5      and $5,517.6)                |   |               | 5,631.2 |   |   |   | 5,041.5 |   |
| Mortgage      loans on real estate                                                                                |   |               | 1,028.5 |   |   |   | 1,107.1 |   |
| Policy      loans                                                                                       |   |               | 1,157.5 |   |   |   | 1,180.3 |   |
| Cash      and other invested assets                                                                          |   |               | 68.2    |   |   |   | 104.2 |   |
| Other      assets                                                                                            |   |               | 264.1   |   |   |   | 472.4 |   |
| Total      assets designated to the Closed Block                                                                       |   |               | 8,149.5 |   |   |   | 7,905.5 |   |
|                                                                                                                   |   |               |    |   |   |   |   |   |
| Excess      of Closed Block liabilities over assets designated to the      Closed Block                                |   |               | 332.0   |   |   |   | 710.6 |   |
|                                                                                                                   |   |               |    |   |   |   |   |   |
| Amounts      included in accumulated other comprehensive income:                                                       |   |               |    |   |   |   |   |   |
| Net      unrealized investment gains (losses), net of deferred income tax (expense)      benefit of $(23.4) and $166.4 |   |               | 43.6    |   |   |   | (309.2 | ) |
|                                                                                                                   |   |               |    |   |   |   |   |   |
|                                                                                                                   |   |               |    |   |   |   |   |   |
| Maximum      Future Earnings To Be Recognized From Closed Block                                                        |   |               |    |   |   |   |   |   |
| Assets      and Liabilities                                                                                       |   | $                  | 375.6   |   |   | $ | 401.4 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |   |   |   |   |   |   |   |
| REVENUES:                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               |   |   |   |   |   |   |   |
| Premiums      and other income                                                                                                                                                                                                                                                                                                                                                                             |   | $                  | 381.9  |   |   | $      | 392.6  |   |   | $ | 409.6 |   |
| Investment      income (net of investment                                                                                                                                                                                                                                                                                                                                                                                                     |   |               |   |   |   |   |   |   |   |   |   |   |
| expenses      of $.1, $1.1, and $.2)                                                                                                                                                                                                                                                                                                                                                                                                |   |               | 481.6  |   |   |   | 496.0  |   |   |   | 501.8 |   |
|  Investment      (losses) gains, net:                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |   |   |   |   |   |   |   |   |   |   |
| Total      OTTI losses                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | (10.0  | )      |   |   | (45.8  | )      |   |   | (3.0 | ) |
| Portion      of loss recognized in other      comprehensive income                                                                                                                                                                                                                                                                                                                                                                       |   |               | .2     |   |   |   | -      |   |   |   | - |   |
| Net      impairment losses recognized                                                                                                                                                                                                                                                                                                                                                                                          |   |               | (9.8   | )      |   |   | (45.8  | )      |   |   | (3.0 | ) |
| Other      investment gains (losses), net                                                                                                                                                                                                                                                                                                                                                                                      |   |               | .4     |   |   |   | (1.7   | )      |   |   | 10.9 |   |
| Total      investment (losses) gains, net                                                                                                                                                                                                                                                                                                                                                                                                     |   |               | (9.4   | )      |   |   | (47.5  | )      |   |   | 7.9 |   |
| Total      revenues                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | 854.1  |   |   |   | 841.1  |   |   |   | 919.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |   |   |   |   |   |   |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS:                                                                                                                                                                                                                                                                                                                                                                                                           |   |               |   |   |   |   |   |   |   |   |   |   |
| Policyholders’      benefits and dividends                                                                                                                                                                                                                                                                                                                                                                                    |   |               | 811.7  |   |   |   | 818.7  |   |   |   | 828.2 |   |
| Other      operating costs and expenses                                                                                                                                                                                                                                                                                                                                                                                             |   |               | 2.6    |   |   |   | 7.4    |   |   |   | 2.7 |   |
| Total      benefits and other      deductions                                                                 |   |               | 814.3  |   |   |   | 826.1  |   |   |   | 830.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |   |   |   |   |   |   |   |   |   |   |
| Net      revenues before income taxes                                                                                                                                                                                                                                                                                                                                                                                               |   |               | 39.8   |   |   |   | 15.0   |   |   |   | 88.4 |   |
| Income      tax expense                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               | (14.0  | )      |   |   | (5.2   | )      |   |   | (31.0 | ) |
| Net      Revenues                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $                  | 25.8   |   |   | $      | 9.8    |   |   | $ | 57.4 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | December      31,  |    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 2009               |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | (In      Millions) |    |
| CLOSED      BLOCK LIABILITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |    |   |   |   |
| Future      policy benefits, policyholders’ account balances and other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | $                  | 6,818.6 |   |   | $ | 6,957.2 |   |
| Policyholder      dividend      obligation                                                                                               |   |               | 188.8   |   |   |   | 6.5 |   |
| Other      liabilities                                                                                                                   |   |               | 39.0    |   |   |   | 40.4 |   |
| Total      Closed Block      liabilities                                                                                                 |   |               | 7,046.4 |   |   |   | 7,004.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |    |   |   |   |   |   |
| ASSETS      DESIGNATED TO THE CLOSED BLOCK:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |    |   |   |   |   |   |
| Fixed      maturities, available for sale, at fair value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |    |   |   |   |   |   |
| (amortized      cost of $3,995.8 and      $3,986.7)                                                                                                |   |               | 4,064.8 |   |   |   | 3,650.6 |   |
| Mortgage      loans on real      estate                                                                                                  |   |               | 832.2   |   |   |   | 885.5 |   |
| Policy      loans                                                                                                                        |   |               | 920.9   |   |   |   | 940.2 |   |
| Cash      and other invested      assets                                                                                                 |   |               | 67.5    |   |   |   | 84.7 |   |
| Other      assets                                                                                                                        |   |               | 274.2   |   |   |   | 355.4 |   |
| Total      assets designated to the Closed      Block                                                                                    |   |               | 6,159.6 |   |   |   | 5,916.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |    |   |   |   |   |   |
| Excess      of Closed Block liabilities over assets designated to                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |    |   |   |   |   |   |
| the      Closed      Block                                                                                                                         |   |               | 886.8   |   |   |   | 1,087.7 |   |
| Amounts      included in accumulated other comprehensive income (loss):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |    |   |   |   |   |   |
| Net      unrealized investment gains (losses), net of deferred    income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |    |   |   |   |   |   |
| tax      (expense) benefit of $0 and $81.5 and net of policyholder                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |    |   |   |   |   |   |
| dividend      obligations of $(79.3) and $103.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | -       |   |   |   | (151.4 | ) |
| Maximum      Future Earnings To Be Recognized From                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |    |   |   |   |   |   |
| Closed      Block Assets and      Liabilities                                                                                                      |   | $                  | 886.8   |   |   | $ | 936.3 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |   |   |   |   |   |   |   |
| REVENUES:                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |   |   |   |   |   |   |   |
| Premiums      and other      income                                                                                   |   | $                  | 309.9  |   |   | $      | 333.3  |   |   | $ | 340.4 |   |
| Investment      income (net of investment                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |   |   |   |   |   |   |   |   |   |   |
| expenses      of $0, $0, and      $6.5)                                                                                         |   |               | 333.1  |   |   |   | 339.5  |   |   |   | 344.9 |   |
| Investment      (losses) gains, net:                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |   |   |   |   |   |   |   |   |   |   |
| Total      OTTI      losses                                                                                                                         |   |               | (8.9   | )      |   |   | (46.3  | )      |   |   | (5.1 | ) |
| Portion      of loss recognized in other                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |   |   |   |   |   |   |   |   |   |   |
| comprehensive      income                                                                                                                           |   |               | -      |   |   |   | -      |   |   |   | - |   |
| Net      impairment losses      recognized                                                                                                                         |   |               | (8.9   | )      |   |   | (46.3  | )      |   |   | (5.1 | ) |
| Other      investment gains (losses),      net                                                                        |   |               | 13.0   |   |   |   | 4.0    |   |   |   | 3.8 |   |
| Total      investment gains (losses), net                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | 4.1    |   |   |   | (42.3  | )      |   |   | (1.3 | ) |
| Total      revenues                                                                                                   |   |               | 647.1  |   |   |   | 630.5  |   |   |   | 684.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |   |   |   |   |   |   |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS:                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |   |   |   |   |   |   |   |   |   |   |
| Policyholders’      benefits and      dividends                                                                 |   |               | 568.1  |   |   |   | 542.2  |   |   |   | 587.1 |   |
| Other      operating costs and      expenses                                                                          |   |               | 2.9    |   |   |   | 3.6    |   |   |   | 3.8 |   |
| Total      benefits and other      deductions                                                                         |   |               | 571.0  |   |   |   | 545.8  |   |   |   | 590.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |   |   |   |   |   |   |   |   |   |   |
| Net      revenues before income      taxes                                                                            |   |               | 76.1   |   |   |   | 84.7   |   |   |   | 93.1 |   |
| Income      tax      expense                                                                                          |   |               | (26.6  | )      |   |   | (29.7  | )      |   |   | (32.5 | ) |
| Net      Revenues                                                                                                     |   | $                  | 49.5   |   |   | $      | 55.0   |   |   | $ | 60.6 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2009               |   | 2008   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |               |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |               |   |   |   |   |
| Balance,      beginning of      year                                                                                              | $                  | 6.5    |   |   | $ | 129.4 |   |
| Applicable      to net      losses                                                                                                |               | (.3    | )      |   |   | (43.5 | ) |
| Unrealized      investment gains      (losses)                                                                                    |               | 182.6  |   |   |   | (79.4 | ) |
| Balance,      End of      Year                                                                                                    | $                  | 188.8  |   |   | $ | 6.5 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | December      31,  |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009               |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |   |
| Impaired      mortgage loans with investment valuation allowances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                  | 86.8   |   |
| Impaired      mortgage loans without investment valuation allowances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | -      |   |
| Recorded      investment in impaired mortgage      loans                                                                                      |   |               | 86.8   |   |
| Investment      valuation      allowances                                                                                                     |   |               | (9.9   | ) |
| Net      Impaired Mortgage      Loans                                                                                                         |   | $                  | 76.9   |   |

----

| 6) | CONTRACTHOLDER      BONUS INTEREST CREDITS |
|----|--------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | December      31,  |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2009               |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |               |   |
| Balance,      beginning of      year                                                                                                          |               | $      | 807.9 |   |   | $ | 754.2 |   |
| Contractholder      bonus interest credits      deferred                                                                                      |               |   | 60.6 |   |   |   | 137.6 |   |
| Amortization      charged to      income                                                                                                      |               |   | (73.6 | ) |   |   | (83.9 | ) |
| Balance,      End of      Year                                                                                                                |               | $      | 794.9 |   |   | $ | 807.9 |   |

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

|                                                                                                                                                                                                                                                                                          |   | Level      1       |     |   | Level      2 |   |     | Level      3 |   |   | Total   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------------|--------|----------|--------------|--------|--------|---------|--------|
|                                                                                                                                                                                                                                                                                          |   | (In      Millions) |     |
| Assets                                                                                                                                                                                                                                                                                        |   |               |     |   |         |   |     |         |   |   |    |   |
| Investments:                                                                                                                                                                                                                                                                                  |   |               |     |   |         |   |     |         |   |   |    |   |
| Fixed      maturities, available-for-sale:                                                                                                                                                                                                                                                    |   |               |     |   |         |   |     |         |   |   |    |   |
| Corporate                                                    |   | $                  | -        |   |         | $      | 28,289.2 |         |   | $      | 635.8   |   |   | $ | 28,925.0 |   |
| U.S.      Treasury, government and agency                                                                                                                                                                                                                                           |   |               | -        |   |         |   | 3,955.5  |         |   |   | -       |   |   |   | 3,955.5 |   |
| States      and political subdivisions                                                                                                                                                                                                                                                        |   |               | -        |   |         |   | 402.7    |         |   |   | 52.6    |   |   |   | 455.3 |   |
| Foreign      governments                                                                                                                                                                                                                                                            |   |               | -        |   |         |   | 340.2    |         |   |   | 20.7    |   |   |   | 360.9 |   |
| Commercial      mortgage-backed(1)                                                                                                                                                                                                                                                            |   |               | -        |   |         |   | -        |         |   |   | 1,782.3 |   |   |   | 1,782.3 |   |
| Residential      mortgage-backed(1)                                                                                                                                                                                                                                                           |   |               | -        |   |         |   | 2,515.6  |         |   |   | -       |   |   |   | 2,515.6 |   |
| Asset-backed(2)                                              |   |               | -        |   |         |   | 55.4     |         |   |   | 237.6   |   |   |   | 293.0 |   |
| Redeemable      preferred stock                                                                                                                                                                                                                                                          |   |               | 260.2    |   |         |   | 1,547.4  |         |   |   | 36.4    |   |   |   | 1,844.0 |   |
| Subtotal                                                                                                                                                                                                                                                                            |   |               | 260.2    |   |         |   | 37,106.0 |         |   |   | 2,765.4 |   |   |   | 40,131.6 |   |
| Other      equity investments                                                                                                                                                                                                                                                            |   |               | 95.1     |   |         |   | -        |         |   |   | 1.7     |   |   |   | 96.8 |   |
| Trading      securities                                                                                                                                                                                                                                                                  |   |               | 423.0    |   |         |   | 1,504.8  |         |   |   | .7      |   |   |   | 1,928.5 |   |
| Other      invested assets                                                                                                                                                                                                                                                                    |   |               | -        |   |         |   | (144.0   | )            |   |   | 299.6   |   |   |   | 155.6 |   |
| Cash      equivalents                                                                                                                                                                                                                                                               |   |               | 2,329.0  |   |         |   | -        |         |   |   | -       |   |   |   | 2,329.0 |   |
| Segregated      securities                                                                                                                                                                                                                                                                    |   |               | -        |   |         |   | 985.7    |         |   |   | -       |   |   |   | 985.7 |   |
| GMIB      reinsurance contracts                                                                                                                                                                                                                                                               |   |               | -        |   |         |   | -        |         |   |   | 980.6   |   |   |   | 980.6 |   |
| Separate      Accounts’ assets                                                                                                                                                                                                                                                          |   |               | 84,191.1 |   |         |   | 1,708.4  |         |   |   | 229.7   |   |   |   | 86,129.2 |   |
| Total      Assets                                                                                                                                                                                                                                                                             |   | $                  | 87,298.4 |   |         | $      | 41,160.9 |         |   | $      | 4,277.7 |   |   | $ | 132,737.0 |   |
|                                                                                                                                                                                                                                                                                          |   |               |     |   |         |   |     |         |   |   |    |   |   |   |   |   |
| Liabilities                                                                                                                                                                                                                                                                                   |   |               |     |   |         |   |     |         |   |   |    |   |   |   |   |   |
| GWBL      features’ liability                                                                                                                                                                                                                                                 |   | $                  | -        |   |         | $      | -        |         |   | $      | 54.9    |   |   | $ | 54.9 |   |
| Total      Liabilities                                                                                                                                                                                                                                                                   |   | $                  | -        |   |         | $      | -        |         |   | $      | 54.9    |   |   | $ | 54.9 |   |

----

|   | (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 tenantloans. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|                                      |   | Level      1       |     |   | Level      2 |   |     | Level      3 |   |   | Total   |   |
|-------------------------------------------|--------|--------------------|----------|--------|--------------|--------|----------|--------------|--------|--------|---------|--------|
|                                      |   | (In      Millions) |     |
|                                      |   |               |     |   |         |   |     |         |   |   |    |   |
| Assets                                    |   |               |     |   |         |   |     |         |   |   |    |   |
| Investments:                              |   |               |     |   |         |   |     |         |   |   |    |   |
| Fixed      maturities, available-for-sale |   | $                  | 200.6    |   |         | $      | 30,167.5 |         |   | $      | 3,047.8 |   |   | $ | 33,415.9 |   |
| Other      equity investments             |   |               | 67.2     |   |         |   | -        |         |   |   | 2.7     |   |   |   | 69.9 |   |
| Trading      securities                   |   |               | 322.6    |   |         |   | -        |         |   |   | .1      |   |   |   | 322.7 |   |
| Other      invested assets                |   |               | 35.4     |   |         |   | 1,135.3  |         |   |   | 547.0   |   |   |   | 1,717.7 |   |
| Loans      to affiliates                  |   |               | -        |   |         |   | 1,133.5  |         |   |   | -       |   |   |   | 1,133.5 |   |
| Cash      equivalents                     |   |               | 6,787.7  |   |         |   | -        |         |   |   | -       |   |   |   | 6,787.7 |   |
| Segregated      securities                |   |               | -        |   |         |   | 2,572.6  |         |   |   | -       |   |   |   | 2,572.6 |   |
| GMIB      reinsurance contracts           |   |               | -        |   |         |   | -        |         |   |   | 1,985.3 |   |   |   | 1,985.3 |   |
| Separate      Accounts’ assets      |   |               | 68,008.6 |   |         |   | 1,271.1  |         |   |   | 334.7   |   |   |   | 69,614.4 |   |
| Total      Assets                         |   | $                  | 75,422.1 |   |         | $      | 36,280.0 |         |   | $      | 5,917.6 |   |   | $ | 117,619.7 |   |
|                                      |   |               |     |   |         |   |     |         |   |   |    |   |   |   |   |   |
| 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 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------------------------|--------|--------|--------|--------------|--------|--------|--------|--------------------------------------|--------|--------|--------|----------------------------|--------|--------|--------|----------------------------|--------|--------|--------|--------------|--------|
|                                                                                                                                                                                                                    |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| Balance,      January 1, 2009                                                                                                                                                                                           |   | $      | 629.2     |   |   | $      | -                           |   |   | $      | 64.0         |   |   | $      | 61.8                                 |   |   | $      | 1,940.6                    |   |   | $      | -                          |   |   | $      | 328.9        |   |
| Total      gains (losses),                                                                                                                                                                                              |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| realized      and unrealized,                                                                                                                                                                                           |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| included      in:                                                                                                                                                                                                       |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| Earnings      as:                                                                                                                                                                                                       |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| Net      investment income                                                                                                                                                                                              |   |   | 1.1       |   |   |   | -                           |   |   |   | -            |   |   |   | -                                    |   |   |   | 3.4                        |   |   |   | -                          |   |   |   | (1.8         | )      |
| Investment      losses, net                                                                                                                                                                                             |   |   | (41.6     | )      |   |   | -                           |   |   |   | -            |   |   |   | -                                    |   |   |   | (59.3                      | )      |   |   | -                          |   |   |   | (24.6        | )      |
| (Decrease)      increase                                                                                                                                                                                                |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| in      the fair value of the                                                                                                                                                                                           |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| reinsurance      contracts                                                                                                                                                                                              |   |   | -         |   |   |   | -                           |   |   |   | -            |   |   |   | -                                    |   |   |   | -                          |   |   |   | -                          |   |   |   | -            |   |
| Subtotal                                                                    |   |   | (40.5     | )      |   |   | -                           |   |   |   | -            |   |   |   | -                                    |   |   |   | (55.9                      | )      |   |   | -                          |   |   |   | (26.4        | )      |
| Other      comprehensive                                                                                                                                                                                                |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| income(loss)                                                 |   |   | 37.3      |   |   |   | -                           |   |   |   | 2.5          |   |   |   | (7.7                                 | )      |   |   | 39.3                       |   |   |   | -                          |   |   |   | 20.5         |   |
| Purchases/issuances                                                                                                                                                                                                |   |   | 116.1     |   |   |   | -                           |   |   |   | 1.0          |   |   |   | -                                    |   |   |   | -                          |   |   |   | -                          |   |   |   | -            |   |
| Sales/settlements                                  |   |   | (79.3     | )      |   |   | -                           |   |   |   | (.2          | )      |   |   | (1.5                                 | )      |   |   | (143.1                     | )      |   |   | -                          |   |   |   | (47.3        | )      |
| Transfers      into/out of                                                                                                                                                                                              |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |
| Level      3 (2)                                             |   |   | (27.0     | )      |   |   | -                           |   |   |   | (46.6        | )      |   |   | -                                    |   |   |   | 1.4                        |   |   |   | -                          |   |   |   | (38.1        | )      |
| Balance,      Dec. 31, 2009                                                                                                                                                                                             |   | $      | 635.8     |   |   | $      | -                           |   |   | $      | 20.7         |   |   | $      | 52.6                                 |   |   | $      | 1,782.3                    |   |   | $      | -                          |   |   | $      | 237.6        |   |
|                                                                                                                                                                                                                    |   |   |      |   |   |   |                        |   |   |   |         |   |   |   |                                 |   |   |   |                       |   |   |   |                       |   |   |   |         |   |

----

|                                                                                                                                                                                                                                  |   | Redeem-able |   |   | Other          |   |   | Other    |   |   | GMIB        |   |   | Separate |     |   | GWBL      |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|--------|--------|----------------|--------|--------|----------|--------|--------|-------------|--------|--------|----------|----------|--------|-----------|--------|
|                                                                                                                                                                                                                                  |   | Preferred   |   |   | Equity         |   |   | Invested |   |   | Reinsurance |   |   | Accounts |     |   | Features  |   |
|                                                                                                                                                                                                                                  |   | Stock       |   |   | Investments(1) |   |   | Assets   |   |   | Asset       |   |   | Assets   |     |   | Liability |   |
|                                                                                                                                                                                                                                  |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |
| Balance,      January 1, 2009                                                                                                                                                                                                         |   | $           | 23.3   |   |           | $      | 2.9    |     |   | $      | 547.0       |   |   | $        | 1,985.3  |   |      | $      | 334.7 |   |   | $ | 272.6 |   |
| Total      gains (losses),                                                                                                                                                                                                            |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| realized      and unrealized,                                                                                                                                                                                                         |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| included      in:                                                                                                                                                                                                                     |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| Earnings      as:                                                                                                                                                                                                                     |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| Net      investment income                                                                                                                                                                                                            |   |        | .1     |   |           |   | -      |     |   |   | (357.2      | )      |   |     | -        |   |      |   | - |   |   |   | - |   |
| Investment      losses, net                                                                                                                                                                                                           |   |        | (99.0  | )      |           |   | -      |     |   |   | -           |   |   |     | -        |   |      |   | (94.8 | ) |   |   | - |   |
| (Decrease)      increase                                                                                                                                                                                                              |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| in      the fair value of the                                                                                                                                                                                                         |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| reinsurance      contracts                                                                                                                                                                                                            |   |        | -      |   |           |   | -      |     |   |   | -           |   |   |     | (1,005.8 | )      |      |   | - |   |   |   | - |   |
| Policyholders’      benefits                                                                                                                                                                                                    |   |        | -      |   |           |   | -      |     |   |   | -           |   |   |     | -        |   |      |   | - |   |   |   | (229.6 | ) |
| Subtotal                                                                        |   |        | (98.9  | )      |           |   | -      |     |   |   | (357.2      | )      |   |     | (1,005.8 | )      |      |   | (94.8 | ) |   |   | (229.6 | ) |
| Other      comprehensive                                                                                                                                                                                                              |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| income      (loss)                                                    |   |        | 70.2   |   |           |   | -      |     |   |   | -           |   |   |     | -        |   |      |   | - |   |   |   | - |   |
| Purchases/issuances                                    |   |        | -      |   |           |   | -      |     |   |   | -           |   |   |     | 1.1      |   |      |   | 1.1 |   |   |   | 11.9 |   |
| Sales/settlements                                      |   |        | -      |   |           |   | (1.2   | )        |   |   | 109.8       |   |   |     | -        |   |      |   | (7.6 | ) |   |   | - |   |
| Transfers      into/out of                                                                                                                                                                                                            |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |
| Level      3 (2)                                                      |   |        | 41.8   |   |           |   | .7     |     |   |   | -           |   |   |     |     |   |      |   | (3.7 | ) |   |   |   |   |
| Balance,      Dec. 31, 2009                                                                                                                                                                                                           |   | $           | 36.4   |   |           | $      | 2.4    |     |   | $      | 299.6       |   |   | $        | 980.6    |   |      | $      | 229.7 |   |   | $ | 54.9 |   |
|                                                                                                                                                                                                                                  |   |        |   |   |           |   |   |     |   |   |        |   |   |     |     |   |      |   |   |   |   |   |   |   |

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

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

----

|                                                              |   | FixedMaturities |    |   | Other          |   |   | Other    |   |   | GMIB        |   | Separate |   | GWBL      |   |
|-------------------------------------------------------------------|--------|-----------------|---------|--------|----------------|--------|--------|----------|--------|--------|-------------|--------|----------|--------|-----------|--------|
|                                                              |   | Available       |    |   | Equity         |   |   | Invested |   |   | Reinsurance |   | Accounts |   | Features  |   |
|                                                              |   | For      Sale   |    |   | Investments(1) |   |   | Assets   |   |   | Asset       |   | Assets   |   | Liability |   |
|                                                              |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |
| Balance,      Dec. 31, 2007                                       |   | $               | 3,103.7 |   |           | $      | 3.9    |     |   | $      | 158.0       |   |     | $      | 124.6     |   |   | $ | 41.2 |   |   | $ | - |   |
| Impact      of adopting fair value guidance, included in earnings |   |            | -       |   |           |   | -      |     |   |   | -           |   |     |   | 209.2     |   |   |   | - |   |   |   | - |   |
| Balance,      Jan. 1, 2008                                        |   |            | 3,103.7 |   |           |   | 3.9    |     |   |   | 158.0       |   |     |   | 333.8     |   |   |   | 41.2 |   |   |   | - |   |
| Total      gains (losses),                                        |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |   |   |   |   |   |   |
| realized      and unrealized,                                     |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |   |   |   |   |   |   |
| included      in:                                                 |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |   |   |   |   |   |   |
| Earnings      as:                                                 |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |   |   |   |   |   |   |
| Net      investment income                                        |   |            | 2.1     |   |           |   | -      |     |   |   | 359.3       |   |     |   | -         |   |   |   | - |   |   |   | - |   |
| Investment      (losses)                                          |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |   |   |   |   |   |   |
| gains,      net                                                   |   |            | (174.0  | )      |           |   | (1.4   | )        |   |   | -           |   |     |   | -         |   |   |   | (17.4 | ) |   |   | - |   |
| Commissions,      fees and                                        |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |   |   |   |   |   |   |
| other      income                                                 |   |            | -       |   |           |   | -      |     |   |   | -           |   |     |   | 1,599.4   |   |   |   | - |   |   |   | - |   |
| Policyholders’      benefits                                |   |            | -       |   |           |   | -      |     |   |   | -           |   |     |   | -         |   |   |   | - |   |   |   | 265.2 |   |
| Subtotal                                                          |   |            | (171.9  | )      |           |   | (1.4   | )        |   |   | 359.3       |   |     |   | 1,599.4   |   |   |   | (17.4 | ) |   |   | 265.2 |   |
| Other      comprehensive income                                   |   |            | (493.1  | )      |           |   | .6     |     |   |   | -           |   |     |   | -         |   |   |   | - |   |   |   | - |   |
| Purchases/issuances      and sales/settlements, net               |   |            | (125.3  | )      |           |   | (.3    | )        |   |   | 26.8        |   |     |   | 52.1      |   |   |   | 248.6 |   |   |   | 7.4 |   |
| Transfers      into/out of Level 3(2)                        |   |            | 734.4   |   |           |   | -      |     |   |   | 2.9         |   |     |   | -         |   |   |   | 62.3 |   |   |   | - |   |
| Balance,      Dec. 31, 2008                                       |   | $               | 3,047.8 |   |           | $      | 2.8    |     |   | $      | 547.0       |   |     | $      | 1,985.3   |   |   | $ | 334.7 |   |   | $ | 272.6 |   |
|                                                              |   |            |    |   |           |   |   |     |   |   |        |   |     |   |      |   |   |   |   |   |   |   |   |   |

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

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

----

|                                            |   | Earnings           |   |   |       |   |   |               |   |
|-------------------------------------------------|--------|--------------------|--------|--------|------------|--------|--------|--------------------|--------|
|                                            |   |               |   |   | Investment |   |   | Change      in     |   |   |   |   |   |   |   |
|                                            |   | Net                |   |   | Gains      |   |   | Fair      Value of |   |   |   |   |   | Policy- |   |
|                                            |   | Investment         |   |   | (Losses),  |   |   | Reinsurance        |   |   |   |   |   | holders’ |   |
|                                            |   | Income             |   |   | Net        |   |   | Contracts          |   |   | OCI |   |   | Benefits |   |
|                                            |   | (In      Millions) |   |
| Level      3 Instruments                        |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Full      Year  2009                  |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Still      Held at December 31, 2009:           |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Change      in unrealized gains or losses       |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Fixed      maturities, available      for sale: |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Corporate                                       |   | $                  | -      |   |       | $      | -      |               |   | $ | - |   |   | $ | 16.7 |   |   | $ | - |   |
| U.S.      Treasury, government and agency       |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| State      and political subdivisions           |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | (7.7 | ) |   |   | - |   |
| Foreign      governments                        |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 2.5 |   |   |   | - |   |
| Commercial      mortgage-backed                 |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 25.0 |   |   |   | - |   |
| Residential      mortgage-backed                |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Asset-backed                                    |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 7.4 |   |   |   | - |   |
| Redeemable      preferred stock                 |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 70.2 |   |   |   | - |   |
| Subtotal                                        |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 114.1 |   |   |   | - |   |
|                                            |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity      securities, available for sale      |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Other      equity investments                   |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | .2 |   |   |   | - |   |
| Other      invested assets                      |   |               | (247.4 | )      |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash      equivalents                           |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Segregated      securities                      |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| GMIB      reinsurance contracts                 |   |               | -      |   |       |   | -      |               |   |   | (1,004.6 | ) |   |   | - |   |   |   | - |   |
| Separate      Accounts’ assets            |   |               | -      |   |       |   | (95.7  | )                  |   |   | - |   |   |   | - |   |   |   | - |   |
| GWBL      features’ liability             |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | 217.7 |   |
| Total                                           |   | $                  | (247.4 | )      |       | $      | (95.7  | )                  |   | $ | (1,004.6 | ) |   | $ | 114.3 |   |   | $ | 217.7 |   |
|                                            |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                      |   | Earnings           |   |   |       |   |   |               |   |
|-------------------------------------------|--------|--------------------|--------|--------|------------|--------|--------|--------------------|--------|
|                                      |   |               |   |   | Investment |   |   | Change      in     |   |   |   |   |   |   |   |
|                                      |   | Net                |   |   | Gains      |   |   | Fair      Value of |   |   |   |   |   | Policy- |   |
|                                      |   | Investment         |   |   | (Losses),  |   |   | Reinsurance        |   |   |   |   |   | holders’ |   |
|                                      |   | Income             |   |   | Net        |   |   | Contracts          |   |   | OCI |   |   | Benefits |   |
|                                      |   | (In      Millions) |   |
|                                      |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Full      Year  2008:           |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Still      Held at December 31, 2008:     |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Change      in unrealized gains or losses |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Fixed      maturities, available-for-sale |   | $                  | -      |   |       | $      | -      |               |   | $ | - |   |   | $ | (503.7 | ) |   | $ | - |   |
| Other      equity investments             |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | .6 |   |   |   | - |   |
| Other      invested assets                |   |               | 386.1  |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash      equivalents                     |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Segregated      securities                |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| GMIB      reinsurance contracts           |   |               | -      |   |       |   | -      |               |   |   | 1,599.4 |   |   |   | - |   |   |   | - |   |
| Separate      Accounts’ assets      |   |               | -      |   |       |   | (16.6  | )                  |   |   | - |   |   |   | - |   |   |   | - |   |
| GWBL      features’ liability       |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | 265.2 |   |
| Total                                     |   | $                  | 386.1  |   |       | $      | (16.6  | )                  |   | $ | 1,599.4 |   |   | $ | (503.1 | ) |   | $ | 265.2 |   |
|                                      |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                                                                                                                                   |   | December      31,  |    |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                                                                                                                                                                                                                                                   |   | 2009               |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                   |   | Carrying           |    |   | Fair |   |   | Carrying |   |   | Fair |   |
|                                                                                                                                                                                                                                                                                                                   |   | Value              |    |   | Value |   |   | Value |   |   | Value |   |
|                                                                                                                                                                                                                                                                                                                   |   | (In      Millions) |    |
|                                                                                                                                                                                                                                                                                                                   |   |               |    |
| Consolidated:                                                                                                                                                                                                                                                                                                          |   |               |    |   |   |   |   |   |   |   |   |   |
| Mortgage      loans on real estate                                                                                                                                                                                                                                                                                     |   | $                  | 4,939.1 |   |   | $ | 4,904.5 |   |   | $ | 5,174.0 |   |   | $ | 5,039.5 |   |
| Other      limited partnership interests                                                                                                                                                                                                                                                                               |   |               | 1,421.5 |   |   |   | 1,421.5 |   |   |   | 1,553.0 |   |   |   | 1,553.0 |   |
| Policyholders      liabilities:                                                                                                                                                                                                                                                                                        |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment      contracts                                                                       |   |               | 3,382.4 |   |   |   | 3,389.8 |   |   |   | 3,760.3 |   |   |   | 3,867.9 |   |
| Long-term      debt                                                              |   |               | 550.2   |   |   |   | 580.7 |   |   |   | 1,341.0 |   |   |   | 1,232.0 |   |
| Loans      to      Affiliates                                                    |   |               | 1,712.0 |   |   |   | 1,772.3 |   |   |   | 1,143.5 |   |   |   | 1,143.5 |   |
|                                                                                                                                                                                                                                                                                                                   |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Closed Blocks:                                                                                                                                                                                                                                                                                                         |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage      loans on real estate                                                                                                                                                                                                                                                                                     |   | $                  | 1,860.7 |   |   | $ | 1,822.6 |   |   | $ | 1,992.5 |   |   | $ | 1,908.5 |   |
| Other      equity      investments                                               |   |               | 1.5     |   |   |   | 1.5 |   |   |   | 2.7 |   |   |   | 2.7 |   |
| SCNILC      liability                                                            |   |               | 7.6     |   |   |   | 7.6 |   |   |   | 8.6 |   |   |   | 8.6 |   |
|                                                                                                                                                                                                                                                                                                                   |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Wind-up      Annuities(1):                                                                                                                                                                                                                                                                                             |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage      loans on real estate                                                                                                                                                                                                                                                                                     |   | $                  | -       |   |   | $ | - |   |   | $ | 1.2 |   |   | $ | 1.3 |   |
| Other      equity      investments                                               |   |               | -       |   |   |   | - |   |   |   | 1.3 |   |   |   | 1.3 |   |
| Guaranteed      interest contracts                                                                                                                                                                                                                                                                                     |   |               | -       |   |   |   | - |   |   |   | 5.5 |   |   |   | 6.2 |   |

| (1)   | At      December 31, 2009, the remaining assets and liabilities of the group      non-participating wind-up annuity line of business (“Wind-up Annuities”)      were consolidated into AXA Financial Group’s consolidated balance sheet on      a line by line basis.  At December 31, 2009, Wind-up Annuities      had mortgage loans on real estate with a carrying value of $150.4 million      and fair value of $156.4 million; other equity investment, with a carrying      value and fair value of $1.3 million and guaranteed      interest  contracts with a carrying value of $5.4 million and a      fair value of $5.6 million. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 8) | GMDB,      GMIB, GWBL AND NO LAPSE GUARANTEEFEATURES |
|----|------------------------------------------------------|

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

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

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

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

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

|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | GMDB               |    |   | GMIB   |   |    | Total  |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In      Millions) |    |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |    |   |   |   |    |   |   |
| Balance      at January 1,      2007                                                                 |   | $                  | 164.4   |   |   | $      | 228.6   |   |   | $ | 393.0 |   |
| Paid      guarantee      benefits                                                                              |   |               | (32.2   | )      |   |   | (2.7    | )      |   |   | (34.9 | ) |
| Other      changes in      reserve                                                                             |   |               | 122.2   |   |   |   | 84.4    |   |   |   | 206.6 |   |
| Balance      at December 31,      2007                                                               |   |               | 254.4   |   |   |   | 310.3   |   |   |   | 564.7 |   |
| Paid      guarantee      benefits                                                                              |   |               | (75.5   | )      |   |   | (8.2    | )      |   |   | (83.7 | ) |
| Other      changes in      reserve                                                                             |   |               | 808.4   |   |   |   | 1,680.7 |   |   |   | 2,489.1 |   |
| Balance      at December 31,      2008                                                               |   |               | 987.3   |   |   |   | 1,982.8 |   |   |   | 2,970.1 |   |
| Paid      guarantee      benefits                                                                              |   |               | (251.8  | )      |   |   | (57.6   | )      |   |   | (309.4 | ) |
| Other      changes in      reserve                                                                             |   |               | 356.9   |   |   |   | (309.8  | )      |   |   | 47.1 |   |
| Balance      at December 31,      2009                                                               |   | $                  | 1,092.4 |   |   | $      | 1,615.4 |   |   | $ | 2,707.8 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | GMDB               |   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In      Millions) |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |   |   |
| Balance      at January 1,      2007                                                                 |   | $                  | 24.1   |   |   |
| Paid      guarantee benefits      ceded                                                                        |   |               | (7.8   | )      |   |
| Other      changes in      reserve                                                                             |   |               | 12.4   |   |   |
| Balance      at December 31,      2007                                                               |   |               | 28.7   |   |   |
| Paid      guarantee      benefits                                                                              |   |               | (7.8   | )      |   |
| Other      changes in      reserve                                                                             |   |               | 73.8   |   |   |
| Balance      at December 31,      2008                                                               |   |               | 94.7   |   |   |
| Paid      guarantee      benefits                                                                              |   |               | (19.8  | )      |   |
| Other      changes in      reserve                                                                             |   |               | 18.7   |   |   |
| Balance      at December 31,      2009                                                               |   | $                  | 93.6   |   |   |

|                                                                                                                                                                                                                                                                                |   | Return                     |   |   |    |   |    |   |   |   |        |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|--------|---------|--------|---------|--------|--------|--------|-------------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                |   | of                         |   |   |    |   |    |   |   |   |        |   |   |   |
|                                                                                                                                                                                                                                                                                |   | Premium                    |   |   | Ratchet |   | Roll-Up |   |   | Combo  |        |   | Total  |   |
|                                                                                                                                                                                                                                                                                |   | (Dollars      In Millions) |   |
| GMDB:                                                                                                                                                                                                                                                                               |   |                       |   |   |    |   |    |   |   |   |        |   |   |   |   |
| Account      values invested in:                                                                                                                                                                                                                                                    |   |                       |   |   |    |   |    |   |   |   |        |   |   |   |   |
| General      Account                                                                       |   | $                          | 11,317 |   |    | $      | 520     |   |   | $      | 161         |   |   | $      | 559 |   |   | $ | 12,557 |   |
| Separate      Accounts                                                                     |   | $                          | 26,244 |   |    | $      | 7,648   |   |   | $      | 4,231       |   |   | $      | 31,785 |   |   | $ | 69,908 |   |
| Net      amount at risk,      gross                                         |   | $                          | 2,454  |   |    | $      | 1,892   |   |   | $      | 2,861       |   |   | $      | 10,544 |   |   | $ | 17,751 |   |
| Net      amount at risk, net of                                                                                                                                                                                                                                                     |   |                       |   |   |    |   |    |   |   |   |        |   |   |   |   |   |   |   |   |   |
| amounts      reinsured                                                                     |   | $                          | 2,454  |   |    | $      | 1,700   |   |   | $      | 1,933       |   |   | $      | 10,512 |   |   | $ | 16,599 |   |
| Average      attained age of                                                                                                                                                                                                                                                        |   |                       |   |   |    |   |    |   |   |   |        |   |   |   |   |   |   |   |   |   |
| contractholders                                                                            |   |                       | 49.7   |   |    |   | 62.5    |   |   |   | 67.0        |   |   |   | 62.1 |   |   |   | 53.6 |   |
| Percentage      of contractholders                                                                                                                                                                                                                                                  |   |                       |   |   |    |   |    |   |   |   |        |   |   |   |   |   |   |   |   |   |
| over      age      70                                                                      |   |                       | 7.6    | %      |    |   | 23.5    | %      |   |   | 41.8        | %      |   |   | 22.6 | % |   |   | 12.9 | % |
| 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     |   |   | $      | 63          |   |   | $      | 775 |   |   | $ | 838 |   |
| Separate      Accounts                                                                     |   |                       | N/A    |   |    |   | N/A     |   |   | $      | 2,934       |   |   | $      | 43,484 |   |   | $ | 46,418 |   |
| Net      amount at risk,      gross                                         |   |                       | N/A    |   |    |   | N/A     |   |   | $      | 1,322       |   |   | $      | 1,027 |   |   | $ | 2,349 |   |
| Net      amount at risk, net of                                                                                                                                                                                                                                                     |   |                       |   |   |    |   |    |   |   |   |        |   |   |   |   |   |   |   |   |   |
| amounts      reinsured                                                                     |   |                       | N/A    |   |    |   | N/A     |   |   | $      | 386         |   |   | $      | 898 |   |   | $ | 1,284 |   |
| 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 | % |

----

| Investment      in Variable Insurance Trust Mutual Funds                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | December      31, |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009 |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |
| GMDB:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |
| Equity                                                                                                    |   | $ | 42,513 |   |   | $ | 31,402 |   |
| Fixed      income                                                                                         |   |   | 4,113 |   |   |   | 3,964 |   |
| Balanced                                                                                                  |   |   | 20,965 |   |   |   | 17,495 |   |
| Other                                                                                                     |   |   | 2,317 |   |   |   | 2,499 |   |
| Total                                                                                                     |   | $ | 69,908 |   |   | $ | 55,360 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| GMIB:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |
| Equity                                                                                                    |   | $ | 27,911 |   |   | $ | 19,207 |   |
| Fixed      income                                                                                         |   |   | 2,530 |   |   |   | 2,238 |   |
| Balanced                                                                                                  |   |   | 15,351 |   |   |   | 12,887 |   |
| Other                                                                                                     |   |   | 626 |   |   |   | 1,278 |   |
| Total                                                                                                     |   | $ | 46,418 |   |   | $ | 35,610 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Direct      Liability(1) |   |   | Net    |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In      Millions)       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                     |   |
| Balance      at January 1,      2007                                                                 |   | $                        | 66.8   |   |   | $      | 66.8 |   |
| Other      changes in      reserves                                                                                 |   |                     | 68.1   |   |   |   | 68.1 |   |
| Balance      at December 31,      2007                                                               |   |                     | 134.9  |   |   |   | 134.9 |   |
| Other      changes in      reserves                                                                                 |   |                     | 68.0   |   |   |   | 68.0 |   |
| Balance      at December 31,      2008                                                               |   |                     | 202.9  |   |   |   | 202.9 |   |
| Other      changes in      reserves                                                                                 |   |                     | 52.0   |   |   |   | 52.0 |   |
| Balance      at December 31,      2009                                                               |   | $                        | 254.9  |   |   | $      | 254.9 |   |

| (1)   | There      were no amounts of reinsurance ceded in any period    presented. |
|-----------------|-----------------------------------------------------------------------------|

| 9) | REINSURANCE      AGREEMENTS |
|----|-----------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009               |    |   | 2008   |   |    | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   | (In      Millions) |    |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |
| Direct      premiums                                                                                        |   | $                  | 1,541.9 |   |   | $      | 1,590.4 |   |   | $ | 1,631.1 |   |
| Reinsurance      assumed                                                                                    |   |               | 197.6   |   |   |   | 191.9   |   |   |   | 198.7 |   |
| Reinsurance      ceded                                                                                      |   |               | (248.9  | )      |   |   | (260.2  | )      |   |   | (268.2 | ) |
| Premiums                                                                                                    |   | $                  | 1,490.6 |   |   | $      | 1,522.1 |   |   | $ | 1,561.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |    |   |   |   |   |   |
| Universal      Life and Investment-type Product                                                                                                                                                                                                                                                                                                                                                                                   |   |               |    |   |   |   |    |   |   |   |   |   |
| Policy      Fee Income      Ceded                                                                                     |   | $                  | 212.4   |   |   | $      | 213.1   |   |   | $ | 200.9 |   |
| Policyholders’      Benefits      Ceded                                                               |   | $                  | 520.1   |   |   | $      | 1,331.1 |   |   | $ | 544.0 |   |
| Interest      Credited to Policyholders’ Account                                                                                                                                                                                                                                                                                                                                                                            |   |               |    |   |   |   |    |   |   |   |   |   |
| Balances      Ceded                                                                                                   |   | $                  | 61.2    |   |   | $      | 58.0    |   |   | $ | 56.1 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |   |
| Incurred      benefits related to current year                                                                                                                                                                                                                                                                                                                                                                                         |   | $                  | 37.7   |   |   | $      | 35.7   |   |   | $ | 33.0 |   |
| Incurred      benefits related to prior      years                                                               |   |               | 6.4    |   |   |   | 4.3    |   |   |   | 13.4 |   |
| Total      Incurred      Benefits                                                                                |   | $                  | 44.1   |   |   | $      | 40.0   |   |   | $ | 46.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |   |   |   |   |   |   |   |   |   |   |
| Benefits      paid related to current      year                                                                  |   | $                  | 12.7   |   |   | $      | 10.9   |   |   | $ | 12.0 |   |
| Benefits      paid related to prior      years                                                                   |   |               | 34.3   |   |   |   | 29.0   |   |   |   | 33.0 |   |
| Total      Benefits      Paid                                                                                    |   | $                  | 47.0   |   |   | $      | 39.9   |   |   | $ | 45.0 |   |

----

| 10) | SHORT-TERM      AND LONG-TERM DEBT |
|-----|------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | December      31,  |    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009               |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | (In      Millions) |    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |
| Short-term      debt:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |    |   |   |   |
| AllianceBernstein      commercial paper (with interest rates of 0.2% and      1.8%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                  | 249.0   |   |   | $ | 284.8 |   |
| Senior      Notes, 8.35%, due      2010                                                                                            |   |               | 302.4   |   |   |   | 311.6 |   |
| Senior      Notes, 7.75%, due through      2010                                                                                    |   |               | 479.8   |   |   |   | 479.4 |   |
| Total      short-term      debt                                                                                                    |   |               | 1,031.2 |   |   |   | 1,075.8 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |   |   |
| Long-term      debt:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |   |   |
| AXA      Financial:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               |    |   |   |   |   |   |
| Senior      Debentures, 7.0%, due      2028                                                                                                  |   |               | 348.4   |   |   |   | 348.3 |   |
| Total      AXA      Financial                                                                                                                                    |   |               | 348.4   |   |   |   | 348.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |   |   |
| MONY      Life:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |               |    |   |   |   |   |   |
| Surplus      Notes, 11.25%, due      2024                                                                                                    |   |               | 1.9     |   |   |   | 1.9 |   |
| Total      MONY      Life                                                                                                                                        |   |               | 1.9     |   |   |   | 1.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |   |   |
| AXA      Equitable:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               |    |   |   |   |   |   |
| Surplus      Notes, 7.70%, due      2015                                                                                                     |   |               | 199.9   |   |   |   | 199.8 |   |
| Total      AXA      Equitable                                                                                                                                    |   |               | 199.9   |   |   |   | 199.8 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |   |   |
| Total      long-term      debt                                                                                                     |   |               | 550.2   |   |   |   | 550.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |   |   |   |   |   |
| Total      Short-term and Long-term      Debt                                                                                      |   | $                  | 1,581.4 |   |   | $ | 1,625.8 |   |

----

| 11) | RELATED      PARTY TRANSACTIONS |
|-----|---------------------------------|

----

| ·   | A      $440.0 million floating rate short-term note initially issued to AXA on      June 16, 2009, described above. |
|--------------------|---------------------------------------------------------------------------------------------------------------------|

| ·   | A      $250.0 million short-term note to AXA originally issued on March 31,      2008.  The funds were used to pay the $250.0 million of      third-party debt that matured on April 1,2008. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A      $500.0 million fixed rate note issued to AXA on November 24,      2008.  AXA Financial used the proceeds to purchase a $500      million surplus note from AXA Equitable that is scheduled to mature on      December 1, 2018. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Two      $1.25 billion floating rate notes issued to AXA December 15,      2008.  AXA Financial used $2.00 billion of the proceeds from      these borrowings to make a capital contribution to AXA Bermuda; the      remaining $500 million was used to purchase an additional surplus note      from AXA Equitable.  Like the note issued by AXA Equitable in      November 2008, this surplus note is scheduled to mature on December 1,      2018. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |   |   |   |   |   |   |   |
| Investment      advisory and services      fees                                                               |   | $                  | 658.5  |   |   | $      | 870.5  |   |   | $ | 1,027.6 |   |
| Distribution      revenues                                                                                    |   |               | 277.3  |   |   |   | 378.4  |   |   |   | 473.4 |   |
| Other      revenues - shareholder servicing fees                                                                                                                                                                                                                                                                                                                                                                                    |   |               | 90.1   |   |   |   | 99.0   |   |   |   | 103.6 |   |
| Other      revenues -      other                                                                              |   |               | 7.0    |   |   |   | 6.9    |   |   |   | 6.5 |   |
| Institutional      research      services                                                                     |   |               | 1.1    |   |   |   | 1.2    |   |   |   | 1.6 |   |

| 12) | EMPLOYEE      BENEFIT PLANS |
|-----|-----------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |   |
| Service      cost                                                                                    |   | $                  | 49.6   |   |   | $      | 59.4   |   |   | $ | 58.0 |   |
| Interest      cost                                                                                   |   |               | 191.3  |   |   |   | 191.8  |   |   |   | 185.8 |   |
| Expected      return on      assets                                                                  |   |               | (139.0 | )      |   |   | (227.7 | )      |   |   | (225.4 | ) |
| Curtailment      gain                                                                                |   |               | -      |   |   |   | (4.3   | )      |   |   | - |   |
| Net      amortization                                                                                |   |               | 115.6  |   |   |   | 51.1   |   |   |   | 75.1 |   |
| Plan      amendments                                                                                 |   |               | 2.2    |   |   |   | -      |   |   |   | - |   |
| Net      Periodic Pension      Expense                                                               |   | $                  | 219.7  |   |   | $      | 70.3   |   |   | $ | 93.5 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | December      31,  |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009               |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | (In      Millions) |    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |
| Projected      benefit obligation, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $                  | 3,071.9 |   |   | $ | 3,183.6 |   |
| Service      cost                                                                                                                        |   |               | 41.6    |   |   |   | 51.4 |   |
| Interest      cost                                                                                                                       |   |               | 191.3   |   |   |   | 191.8 |   |
| Actuarial      losses      (gains)                                                                                                       |   |               | 99.5    |   |   |   | (67.0 | ) |
| Plan      curtailment                                                                                                                    |   |               | -       |   |   |   | (25.8 | ) |
| Benefits      paid                                                                                                                       |   |               | (276.0  | ) |   |   | (240.3 | ) |
| Plan      amendments                                                                                                                     |   |               | 2.2     |   |   |   | (21.8 | ) |
| Projected      Benefit Obligation, End of      Year                                                                                      |   | $                  | 3,130.5 |   |   | $ | 3,071.9 |   |

----

|                                                                                                                                                                                                                                         | December      31,  |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|
|                                                                                                                                                                                                                                         | 2009               |   |   | 2008 |   |
|                                                                                                                                                                                                                                         | (In      Millions) |   |
|                                                                                                                                                                                                                                         |               |   |
| Pension      plan assets at fair value, beginning of year                                                                                                                                                                               |               | $      | 1,667.3 |   |   | $ | 2,817.8 |   |
| Actual      return on plan      assets                                  |               |   | 121.3 |   |   |   | (972.9 | ) |
| Contributions                                                                                                                                                                                   |               |   | 56.8 |   |   |   | 35.8 |   |
| Benefits      paid and fees                                                                                                                                                                                                                  |               |   | (223.0 | ) |   |   | (213.4 | ) |
| Pension      plan assets at fair value, end of year                                                                                                                                                                                          |               |   | 1,622.4 |   |   |   | 1,667.3 |   |
| PBO                                                                                                                                      |               |   | 3,130.5 |   |   |   | 3,071.9 |   |
| Excess      PBO Over Pension Plan Assets                                                                                                                                                                                                     |               | $      | (1,508.1 | ) |   | $ | (1,404.6 | ) |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | December      31,  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2009               |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |               |   |
| Unrecognized      net actuarial      loss                                                                                     |               | $      | 1,773.4 |   |   | $ | 1,769.2 |   |
| Unrecognized      prior service      credit                                                                                   |               |   | (16.3 | ) |   |   | (20.3 | ) |
| Unrecognized      net transition      asset                                                                                   |               |   | (.5 | ) |   |   | (.6 | ) |
| Total                                                                                                                                                  |               | $      | 1,756.6 |   |   | $ | 1,748.3 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | December      31,  |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 2009               |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |   |   |   |   |
| Fixed      maturities                                                                                                     |   |               | 45.4   | % |   |   | 27.1 | % |
| Equity      securities                                                                                                    |   |               | 37.5   |   |   |   | 56.6 |   |
| Equity      real      estate                                                                                              |   |               | 10.1   |   |   |   | 14.7 |   |
| Cash      and short-term      investments                                                                                 |   |               | 7.0    |   |   |   | 1.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | 100.0  | % |   |   | 100.0 | % |

----

|                                                                                                                                                                                                                                                                                          |   | At      December 31, 2009 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|--------|
|                                                                                                                                                                                                                                                                                          |   |                      |   |
|                                                                                                                                                                                                                                                                                          |   | Level      1              |   |   | Level      2 |   |   | Level      3 |   |   | Total |   |
| Asset      Categories                                                                                                                                                                                                                                                                         |   | (In      Millions)        |   |
| Fixed      maturities:                                                                                                                                                                                                                                                                        |   |                      |   |   |   |   |   |   | - |   |   |   |   |
| Corporate                                               |   | $                         | -      |   |   | $ | 450.0 |   |   | $ | - |   |   | $ | 450.0 |   |
| US      Treasury, government and agency                                                                                                                                                                                                                                        |   |                      | -      |   |   |   | 243.9 |   |   |   | - |   |   |   | 243.9 |   |
| States      and political subdivisions                                                                                                                                                                                                                                                        |   |                      | -      |   |   |   | 9.6 |   |   |   | - |   |   |   | 9.6 |   |
| Foreign      governments                                                                                                                                                                                                                                        |   |                      | -      |   |   |   | 1.1 |   |   |   | - |   |   |   | 1.1 |   |
| Commercial      mortgage-backed                                                                                                                                                                                                                                                               |   |                      | -      |   |   |   | 1.1 |   |   |   | 4.5 |   |   |   | 5.6 |   |
| Asset-backed                                                                                                                                                                                                                                                    |   |                      | -      |   |   |   | 3.6 |   |   |   | 4.1 |   |   |   | 7.7 |   |
| Other      structured debt                                                                                                                                                                                                                                                     |   |                      | -      |   |   |   | - |   |   |   | 6.5 |   |   |   | 6.5 |   |
| Common      and preferred equity                                                                                                                                                                                                                                                              |   |                      | 637.3  |   |   |   | 1.6 |   |   |   | - |   |   |   | 638.9 |   |
| Mutual      funds                                                                                                                                                                                                                                                    |   |                      | 27.4   |   |   |   | - |   |   |   | - |   |   |   | 27.4 |   |
| Hedge      funds                                                                                                                                                                                                                                                                         |   |                      | -      |   |   |   | 6.5 |   |   |   | - |   |   |   | 6.5 |   |
| Derivatives,      net                                                                                                                                                                                                                                                          |   |                      | (95.9  | ) |   |   | - |   |   |   | - |   |   |   | (95.9 | ) |
| Private      real estate investment funds                                                                                                                                                                                                                                 |   |                      | 1.0    |   |   |   | - |   |   |   | 12.1 |   |   |   | 13.1 |   |
| Private      investment trusts                                                                                                                                                                                                                                       |   |                      | -      |   |   |   | 44.4 |   |   |   | 146.7 |   |   |   | 191.1 |   |
| Commercial      mortgages                                                                                                                                                                                                                                                      |   |                      | -      |   |   |   | - |   |   |   | 1.8 |   |   |   | 1.8 |   |
| Cash      and cash equivalents                                                                                                                                                                                                                                                 |   |                      | 33.0   |   |   |   | 27.8 |   |   |   | - |   |   |   | 60.8 |   |
| Short-term      investments                                                                                                                                                                                                                                          |   |                      | 29.2   |   |   |   | 24.1 |   |   |   | - |   |   |   | 53.3 |   |
| Total                                                                                                                                                                                                                                            |   | $                         | 632.0  |   |   | $ | 813.7 |   |   | $ | 175.7 |   |   | $ | 1,621.4 |   |

----

|                                                    |   | Fixed      Maturities(1) |   |   | Private      Real Estate Investment Funds |   |  Private      Investment Trusts |   | Commercial      Mortgages |   |    | Total  |   |
|---------------------------------------------------------|--------|--------------------------|--------|--------|-------------------------------------------|--------|--------------------------------------|--------|---------------------------|--------|---------|--------|--------|
|                                                    |   | (In      Millions)       |   |
| Balance      at December      31, 2008                  |   | $                        | 18.6   |   |                                      | $      | 15.4                                 |   | $                         | 224.4  |    |   | $      | 2.1 |   |   | $ | 260.5 |   |
| Actual      return on Plan assets:                      |   |                     |   |   |                                      |   |                                 |   |                      |   |    |   |   |   |   |   |   |   |   |
| Relating      to assets still held at December 31, 2009 |   |                     | 1.4    |   |                                      |   | (2.6                                 | )      |                      | (77.7  | )  |   |   | (.1 | ) |   |   | (79.0 | ) |
| Relating      to assets sold during 2009                |   |                     | -      |   |                                      |   | (.1                                  | )      |                      | -      |    |   |   | .1 |   |   |   | - |   |
| Purchases,      sales, issues and settlements, net      |   |                     | 3.3    |   |                                      |   | (.6                                  | )      |                      | -      |    |   |   | (.3 | ) |   |   | 2.4 |   |
| Transfers      into/out      of Level 3                 |   |                     | (8.2   | )      |                                      |   | -                                    |   |                      | -      |    |   |   | - |   |   |   | (8.2 | ) |
| Balance      at December      31, 2009                  |   | $                        | 15.1   |   |                                      | $      | 12.1                                 |   | $                    | 146.7  |    |   | $      | 1.8 |   |   | $ | 175.7 |   |

|   | (1)  Includes      commercial mortgage- and asset-backed securities and other structured      debt. |
|--------|---------------------------------------------------------------------------------------------------------------|

|                                                                                                 |   | AXA      Financial Group |   |
|------------------------------------------------------------------------------------------------------|--------|--------------------------|--------|
|                                                                                                 |   | 2009                     |   |   | 2008 |   |
| Discount      rates:                                                                                 |   |                     |   |   |   |   |
| Benefit      obligation                                                                         |   |                     | 6.00   | % |   |   | 6.50 | % |
| Periodic      cost                                                     |   |                     | 6.50   | % |   |   | 6.25 | %(1) |
|                                                                                                 |   |                     |   |   |   |   |   |   |
| Rates      of compensation increase:                                                                 |   |                     |   |   |   |   |   |   |
| Benefit      obligation and periodic cost                                                  |   |                     | 6.00   | % |   |   | 6.00 | % |
|                                                                                                 |   |                     |   |   |   |   |   |   |
| Expected      long-term rates of return on pension plan assets  (periodic      cost)  |   |                     | 6.75   | % |   |   | 8.50 | % |

|   | (1)  For      pension plans remeasured in second quarter 2008, periodic cost was      recalculated using a discount rate of 6.75% for the remainder of the      year. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                      | 2009               |   | 2008   |   | 2007 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|--------|--------|------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                      | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                      |               |   |
| Service      cost                                                                   | $                  | 2.0    |   | $      | 2.4  |   | $ | 2.7 |   |
| Interest      cost                                                                  |               | 35.6   |   |   | 36.0 |   |   | 35.3 |   |
| Net      amortization                                                               |               | 2.9    |   |   | 4.2  |   |   | 6.5 |   |
| Net      Periodic Postretirement Benefits Costs                                                                                                                                                                                                                                                                                                                                                           | $                  | 40.5   |   | $      | 42.6 |   | $ | 44.5 |   |

|                                                                              |   | December      31,  |   |
|-----------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                              |   | 2009               |   |   | 2008 |   |
|                                                                              |   | (In      Millions) |   |
|                                                                              |   |               |   |
| Accumulated      postretirement benefits obligation, beginning of      year  |   | $                  | 569.0  |   |   | $ | 596.2 |   |
| Service      cost                                   |   |               | 2.0    |   |   |   | 2.4 |   |
| Interest      cost                                                      |   |               | 35.6   |   |   |   | 36.0 |   |
| Contributions      and benefits paid                                    |   |               | (46.4  | ) |   |   | (54.6 | ) |
| Medicare      Part D subsidy                                                      |   |               | 3.6    |   |   |   | 1.8 |   |
| Actuarial      losses (gains)                                           |   |               | 25.2   |   |   |   | (12.0 | ) |
| Plan      amendments                                               |   |               | -      |   |   |   | (.8 | ) |
| Accumulated      Postretirement Benefits Obligation, End of Year                  |   | $                  | 589.0  |   |   | $ | 569.0 |   |

|                                                     | December      31,  |   |
|----------------------------------------------------------|--------------------|--------|
|                                                     | 2009               |   |   | 2008 |   |
|                                                     | (In      Millions) |   |
|                                                     |               |   |
| Unrecognized      net actuarial losses    |               | $      | 106.5 |   |   | $ | 85.3 |   |
| Unrecognized      prior service credit    |               |   | (10.1 | ) |   |   | (11.2 | ) |
| Total                           |               | $      | 96.4 |   |   | $ | 74.1 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |   |   |   |   |
| Discount      rates:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |   |   |   |   |
| Benefit      obligation                                                                              |   |   | 6.00   | %      |   |   | 6.50 | % |
| Periodic      cost                                                                                   |   |   | 6.50   | %      |   |   | 6.25 | %(1) |

|   | (1) | For      plans remeasured in second quarter 2008, periodic cost was recalculated      using a discount rate of 6.75% for the remainder of the    year. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                    | 2009               |   | 2008 |   | 2007   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                    | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                    |               |   |
| Service      cost                                                                                 |               | $      | 5.0  |   |   | $      | 4.8 |   |   | $ | 4.5 |   |
| Interest      cost                                                                                |               |   | 1.6  |   |   |   | 1.6 |   |   |   | 1.6 |   |
| Net      actuarial loss      (gain)                                                               |               |   | 2.5  |   |   |   | (2.6 | ) |   |   | (9.2 | ) |
| Net      Periodic Post-employment Benefits Costs                                                                                                                                                                                                                                                                                                                                                                        |               | $      | 9.1  |   |   | $      | 3.8 |   |   | $ | (3.1 | ) |

|                                                                                                                                                                                                           |   |   |               |   |   | Postretirement      Benefits |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------------|--------|--------|------------------------------|--------|
|                                                                                                                                                                                                           |   |   |               |   |   |                         |   |   |   | Health  |   |
|                                                                                                                                                                                                           |   |   | PensionBenefits    |   |   | LifeInsurance                |   |   |   | GrossEstimatedPayment |   |   |   | EstimatedMedicarePart D Subsidy |   |   |   | NetEstimatedPayment |   |
|                                                                                                                                                                                                           |   |   | (In      Millions) |   |
|                                                                                                                                                                                                           |   |   |               |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2010                                                |   | $      | 252.4              |   | $      | 25.2                         |   |   | $ | 30.7 |   |   | $ | 4.5 |   |   | $ | 26.2 |   |
| 2011                                                |   |   | 260.8              |   |   | 25.3                         |   |   |   | 29.8 |   |   |   | 4.8 |   |   |   | 25.0 |   |
| 2012                                                |   |   | 263.8              |   |   | 25.4                         |   |   |   | 28.6 |   |   |   | 5.1 |   |   |   | 23.5 |   |
| 2013                                                |   |   | 262.4              |   |   | 25.5                         |   |   |   | 27.4 |   |   |   | 5.3 |   |   |   | 22.1 |   |
| 2014                                                |   |   | 261.7              |   |   | 25.6                         |   |   |   | 26.3 |   |   |   | 5.5 |   |   |   | 20.8 |   |
| Years      2015-2019                                |   |   | 1,291.8            |   |   | 127.2                        |   |   |   | 113.6 |   |   |   | 31.0 |   |   |   | 82.6 |   |

----

| 13) | SHARE-BASED      AND OTHER COMPENSATION PROGRAMS |
|-----|--------------------------------------------------|

----

----

|                                        |   |                                            |   |   |                         |    |   |                                            |   |   |                         |   |   |                                            |   |   |                         |   |
|---------------------------------------------|--------|-------------------------------------------------|--------|--------|------------------------------|---------|--------|-------------------------------------------------|--------|--------|------------------------------|--------|--------|-------------------------------------------------|--------|--------|------------------------------|--------|
|                                        |   | AXA      Ordinary Shares                        |   |   | AXA      ADRs                |    |   | AllianceBernstein      Holding Units            |   |
|                                        |   |        NumberOutstanding(In      Millions) |   |   | WeightedAverageExercisePrice |    |   |        NumberOutstanding(In      Millions) |   |   | WeightedAverageExercisePrice |   |   |        NumberOutstanding(In      Millions) |   |   | WeightedAverageExercisePrice |   |
|                                        |   |                                            |   |   |                         |    |   |                                            |   |   |                         |   |   |                                            |   |   |                         |   |
| Options      outstanding at January 1, 2009 |   |                                            | 13.8   |   |                         | € | 26.54  |                                            |   |   | 12.3                         |   |   | $                                               | 20.40  |   |                         |   | 6.7 |   |   | $ | 66.11 |   |
| Options      granted                        |   |                                            | 2.1    |   |                         | € | 10.78  |                                            |   |   | .2                           |   |   | $                                               | 12.00  |   |                         |   | 6.6 |   |   | $ | 17.06 |   |
| Options      exercised            |   |                                            | .3     |   |                         | € | -      |                                            |   |   | (1.0                         | )      |   | $                                               | 16.01  |   |                         |   | - |   |   | $ | - |   |
| Options      forfeited, net                 |   |                                            | (1.2   | )      |                         | € | 27.06  |                                            |   |   | (.6                          | )      |   | $                                               | 26.74  |   |                         |   | (0.9 | ) |   | $ | 45.09 |   |
| Options      expired                        |   |                                            | -      |   |                         |    |   |                                            |   |   | -                            |   |   |                                            |   |   |                         |   | (.3 | ) |   | $ | 30.21 |   |
| Options      Outstanding at                 |   |                                            |   |   |                         |    |   |                                            |   |   |                         |   |   |                                            |   |   |                         |   |   |   |   |   |   |   |
| December 31, 2009                           |   |                                            | 15.0   |   |                         | € | 23.75  |                                            |   |   | 10.9                         |   |   | $                                               | 19.95  |   |                         |   | 12.3 |   |   | $ | 41.79 |   |
| Aggregate      Intrinsic Value(1)           |   |                                            |   |   |                         | € | -      |                                            |   |   |                         |   |   | $                                               | 64.4   |   |                         |   |   |   |   | $ | - |   |
| Weighted      Average Remaining             |   |                                            |   |   |                         |    |   |                                            |   |   |                         |   |   |                                            |   |   |                         |   |   |   |   |   |   |   |
| Contractual Term (in years)                 |   |                                            | 6.92   |   |                         |    |   |                                            |   |   | 3.18                         |   |   |                                            |   |   |                         |   | - |   |   |   |   |   |
| Options      Exercisable at                 |   |                                            |   |   |                         |    |   |                                            |   |   |                         |   |   |                                            |   |   |                         |   |   |   |   |   |   |   |
| December 31, 2009                           |   |                                            | 6.2    |   |                         | € | 24.85  |                                            |   |   | 10.9                         |   |   | $                                               | 19.4   |   |                         |   | 2.8 |   |   | $ | 51.91 |   |
| Aggregate      Intrinsic Value(1)           |   |                                            |   |   |                         | € | -      | (2)                                             |   |   |                         |   |   | $                                               | 64.0   |   |                         |   |   |   |   | $ | - | (2) |
| Weighted      Average Remaining             |   |                                            |   |   |                         |    |   |                                            |   |   |                         |   |   |                                            |   |   |                         |   |   |   |   |   |   |   |
| Contractual      Term (in years)       |   |                                            | 5.54   |   |                         |    |   |                                            |   |   | 3.16                         |   |   |                                            |   |   |                         |   | 2.9 |   |   |   |   |   |

| (1)   | Intrinsic      value, presented in millions, is calculated as the excess of the closing      market price on December 31, 2009 of the respective underlying shares over      the strike prices of the optionawards. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | The      aggregate intrinsic value on options outstanding, exercisable and expected      to vest is negative and is therefore presented as zero in the table      above. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                 | AXA      Ordinary Shares |   | AllianceBernstein      Holding Units |
|--------------------------------------|--------------------------|--------|--------------------------------------|
|                                 |                     | 2009   |                                 | 2008 |   |   | 2007 |   | 2009 |   | 2008 |   | 2007 |
|                                 |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |
| Dividend      yield        |                     | 10.69% |                                 | 7.12% |   |   | 4.10% |   | 5.2-6.1% |   | 5.4% |   | 5.6-5.7% |
|                                 |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |
| Expected      volatility             |                     | 57.5%  |                                 | 34.7% |   |   | 27.5% |   | 0-44.6% |   | 29.3% |   | 27.7-30.8% |
|                                 |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |
| Risk-free      interest rates   |                     | 2.74%  |                                 | 4.19% |   |   | 4.40% |   | 1.6-2.1% |   | 3.2% |   | 3.5-4.9% |
|                                 |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |
| Expected      life in years          |                     | 5.5    |                                 | 6.0 |   |   | 5.5 |   | 6.0-6.5 |   | 6.0 |   | 6.0-9.5 |
|                                 |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |
| Weighted      average fair value per |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |
| option      at grant date       |                     | $2.57  |                                 | $5.70 |   |   | $9.61 |   | $3.52 |   | $10.85 |   | $15.96 |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |           |   | Weighted        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|--------|-----------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Shares      of |   | Average         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Restricted     |   | Grant      Date |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Stock          |   | Fair      Value |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |           |   |            |   |
| Unvested      as of January 1,      2009                                                                                          | 461,102        |   | $               | 31.92 |
| Granted                                                                                                                           | 63,088         |   | $               | 12.30 |
| Vested                                                                                                                            | 118,626        |   | $               | 22.31 |
| Forfeited                                                                                                                         | 1,079          |   |            | - |
| Unvested      as of December 31,      2009                                                                                        | 404,485        |   | $               | 31.74 |

----

| 14) | NET      INVESTMENT (LOSS) INCOME AND INVESTMENT LOSSES,  NET |
|-----|--------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2009               |     |   | 2008   |   |    | 2007   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                            |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |
| Fixed      maturities                                                                                     |   | $                  | 2,189.9  |   |   | $      | 2,155.9 |   |   | $ | 2,217.3 |   |
| Mortgage      loans on real      estate                                                                   |   |               | 328.9    |   |   |   | 354.2   |   |   |   | 338.3 |   |
| Equity      real      estate                                                                              |   |               | 108.7    |   |   |   | 95.2    |   |   |   | 103.5 |   |
| Other      equity      investments                                                                        |   |               | (96.0    | )      |   |   | (119.8  | )      |   |   | 259.6 |   |
| Policy      loans                                                                                         |   |               | 323.7    |   |   |   | 324.7   |   |   |   | 321.9 |   |
| Short-term      investments                                                                               |   |               | 15.3     |   |   |   | 80.3    |   |   |   | 97.1 |   |
| Derivative      investments                                                                               |   |               | (6,955.4 | )      |   |   | 6,753.5 |   |   |   | 67.5 |   |
| Broker-dealer      related      receivables                                                               |   |               | 14.8     |   |   |   | 65.6    |   |   |   | 236.9 |   |
| Trading      securities                                                                                   |   |               | 143.4    |   |   |   | (343.6  | )      |   |   | 29.5 |   |
| Foreign      exchange      income                                                                         |   |               | 111.5    |   |   |   | -       |   |   |   | - |   |
| Other      investment      income                                                                         |   |               | 15.0     |   |   |   | 33.9    |   |   |   | 57.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |    |   |   |   |   |   |
| Gross      investment (loss)      income                                                                            |   |               | (3,800.2 | )      |   |   | 9,399.9 |   |   |   | 3,729.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |    |   |   |   |   |   |
| Investment      expenses                                                                                  |   |               | (138.5   | )      |   |   | (122.5  | )      |   |   | (148.7 | ) |
| Interest      expense                                                                                     |   |               | (4.4     | )      |   |   | (36.5   | )      |   |   | (194.4 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |    |   |   |   |   |   |
| Net      Investment (Loss)      Income                                                                    |   | $                  | (3,943.1 | )      |   | $      | 9,240.9 |   |   | $ | 3,386.4 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |   |   |   |   |   |   |
| Fixed      maturities                                                                                 |   | $                  | (101.7 | )      |   | $      | (500.2 | )      |   | $ | (95.0 | ) |
| Mortgage      loans on real      estate                                                               |   |               | (18.4  | )      |   |   | 7.8    |   |   |   | 9.4 |   |
| Equity      real      estate                                                                          |   |               | (.1    | )      |   |   | (1.6   | )      |   |   | 12.9 |   |
| Other      equity      investments                                                                    |   |               | 53.2   |   |   |   | 9.6    |   |   |   | 16.6 |   |
| Other      (1)                                                                                        |   |               | 3.0    |   |   |   | 17.1   |   |   |   | 25.5 |   |
| Investment      Losses,      Net                                                                      |   | $                  | (64.0  | )      |   | $      | (467.3 | )      |   | $ | (30.6 | ) |

|   | (1)        | In      2008 and 2007, respectively, AllianceBernstein issued units to its      employees under long-term incentive plans.  As a result of these      transactions, AXA Financial Group recorded non-cash realized gains of      $10.3 million and $26.7 million for 2008 and 2007,      respectively.  In 2009, the FASB issued new guidance in which a      gain or loss will be recognized only when an entity loses control and      deconsolidates a subsidiary.  As a result, in 2009, no gain or      loss was recorded on thesetransactions. |
|--------|-----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |
| Balance      attributable to AXA Financial Inc.,                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |     |   |   |
| beginning      of      year                                                                           |   | $                  | (1,675.2 | )      |   | $      | 38.8     |   |   | $ | 262.2 |   |
| Changes      in unrealized investment                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |
| gains      (losses) on      investments                                                               |   |               | 3,315.6  |   |   |   | (3,336.3 | )      |   |   | (441.1 | ) |
| Impact      of unrealized investment (losses) gains                                                                                                                                                                                                                                                                                                                                                                         |   |               |     |   |   |   |     |   |   |   |   |   |
| attributable      to:                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |
| Participating      group annuity contracts,                                                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| Closed      Blocks policyholder dividend                                                                                                                                                                                                                                                                                                                                                                                    |   |               |     |   |   |   |     |   |   |   |   |   |
| obligation      and      other                                                                                            |   |               | (120.1   | )      |   |   | (69.1    | )      |   |   | 14.3 |   |
| DAC      and VOBA                                                                                                                                                                                                                                                                                                                                                                                       |   |               | (745.1   | )      |   |   | 727.2    |   |   |   | 92.8 |   |
| Deferred      income tax benefit (expense)                                                                                                                                                                                                                                                                                                                                                                             |   |               | (877.2   | )      |   |   | 924.5    |   |   |   | 127.4 |   |
| Total                                                                                                                                                                                                                                                                                               |   |               | (102.0   | )      |   |   | (1,714.9 | )      |   |   | 55.6 |   |
| Less:      Changes in unrealized investment (gains)                                                                                                                                                                                                                                                                                                                                                                         |   |               |     |   |   |   |     |   |   |   |   |   |
| losses      attributable to noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                         |   |               | (32.2    | )      |   |   | 39.7     |   |   |   | (16.8 | ) |
| Balance      Attributable to AXA Financial Inc., End      of Year                                                                                                                                                                                                                                                                                                                                                           |   | $                  | (134.2   | )      |   | $      | (1,675.2 | )      |   | $ | 38.8 |   |

|                                                                                                        |   | 2009               |   |   | 2008   |   |     | 2007   |   |
|-------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|----------|--------|--------|
|                                                                                                        |   | (In      Millions) |   |
|                                                                                                        |   |               |   |
| Balance,      end of year comprises:                                                                        |   |               |   |   |   |   |     |   |   |
| Unrealized      investment (losses) gains on:                                                               |   |               |   |   |   |   |     |   |   |
| Fixed      maturities                                                              |   | $                  | (26.1  | )      |   | $      | (3,331.0 | )      |   | $ | 2.0 |   |
| Other      equity investments                                                           |   |               | 8.7    |   |   |   | (2.0     | )      |   |   | 1.3 |   |
| Total                                      |   |               | (17.4  | )      |   |   | (3,333.0 | )      |   |   | 3.3 |   |
| Impact      of unrealized investment (losses) gains                                                         |   |               |   |   |   |   |     |   |   |   |   |   |
| attributable      to:                                                                                       |   |               |   |   |   |   |     |   |   |   |   |   |
| Participating      group annuity contracts,                                                                 |   |               |   |   |   |   |     |   |   |   |   |   |
| Closed      Blocks policyholder dividend                                                                    |   |               |   |   |   |   |     |   |   |   |   |   |
| obligation      and other                                                |   |               | (120.4 | )      |   |   | (.3      | )      |   |   | 68.8 |   |
| DAC      and      VOBA                                    |   |               | (24.1  | )      |   |   | 721.0    |   |   |   | (6.2 | ) |
| Deferred      income tax benefit (expense)                                                             |   |               | 42.8   |   |   |   | 920.0    |   |   |   | (4.5 | ) |
| Total                  |   |               | (119.1 | )      |   |   | (1,692.3 | )      |   |   | 61.4 |   |
| Less:      (Income) loss attributable to noncontrolling interest                                            |   |               | (15.1  | )      |   |   | 17.1     |   |   |   | (22.6 | ) |
|                                                                                                        |   |               |   |   |   |   |     |   |   |   |   |   |
| Balance      Attributable to AXA      Financial Inc., End of Year                                      |   | $                  | (134.2 | )      |   | $      | (1,675.2 | )      |   | $ | 38.8 |   |

| 15) | INCOME      TAXES |
|-----|-------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                         | 2009               |   | 2008     |   | 2007   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|----------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                         | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                         |               |   |
| Income      tax expense:                                                                                                                                                                                                                                                                                                                                                                                     |               |   |     |   |   |   |   |   |   |
| Current      (benefit)      expense                                                              |               | $      | (555.1   | )      |   | $      | 97.6 |   |   | $ | 621.4 |   |
| Deferred      (benefit)      expense                                                             |               |   | (1,224.6 | )      |   |   | 1,752.8 |   |   |   | 223.2 |   |
| Total                                                                                  |               | $      | (1,779.7 | )      |   | $      | 1,850.4 |   |   | $ | 844.6 |   |

----

|                                             |   | 2009               |     |   | 2008   |   |    | 2007   |   |
|--------------------------------------------------|--------|--------------------|----------|--------|--------|--------|---------|--------|--------|
|                                             |   | (In      Millions) |     |
|                                             |   |               |     |
| Expected      income tax (benefit) expense       |   | $                  | (1,603.6 | )      |   | $      | 2,021.7 |   |   | $ | 926.9 |   |
| Noncontrolling      interest                     |   |               | (90.8    | )      |   |   | (89.6   | )      |   |   | (132.6 | ) |
| Separate      Accounts investment activity       |   |               | (76.2    | )      |   |   | (68.0   | )      |   |   | (53.5 | ) |
| Non-taxable      investment income (losses)      |   |               | (27.5    | )      |   |   | 24.6    |   |   |   | (25.4 | ) |
| Adjustment      of tax audit reserves            |   |               | (8.4     | )      |   |   | 11.3    |   |   |   | 26.4 |   |
| State      income taxes                          |   |               | 12.3     |   |   |   | 22.9    |   |   |   | 55.5 |   |
| AllianceBernstein      Federal and foreign taxes |   |               | 8.4      |   |   |   | (79.6   | )      |   |   | 40.2 |   |
| Other                                            |   |               | 6.1      |   |   |   | 7.1     |   |   |   | 7.1 |   |
| Income      Tax (Benefit) Expense                |   | $                  | (1,779.7 | )      |   | $      | 1,850.4 |   |   | $ | 844.6 |   |

|                                                                                                                                                                                                                                                                                                                         |   | December      31, 2009 |    |   | December      31, 2008 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|---------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                                                                                         |   | Assets                 |    |   | Liabilities            |   |   | Assets |   |   | Liabilities |   |
|                                                                                                                                                                                                                                                                                                                         |   | (In      Millions)     |    |
|                                                                                                                                                                                                                                                                                                                         |   |                   |    |
| Compensation      and related benefits                                                                                                                                                                                                                                                                                       |   | $                      | 1,051.9 |   |                   | $      | - |   |   | $ | 898.0 |   |   | $ | - |   |
| Net      operating      losses                                                    |   |                   | 874.3   |   |                   |   | - |   |   |   | - |   |   |   | - |   |
| Reserves      and      reinsurance                                                |   |                   | -       |   |                   |   | 1,173.1 |   |   |   | 261.0 |   |   |   | - |   |
| DAC      and      VOBA                                                            |   |                   | -       |   |                   |   | 2,604.6 |   |   |   | - |   |   |   | 2,611.2 |   |
| Unrealized      investment losses                                                                                                                                                                                                                                                                                            |   |                   | 83.8    |   |                   |   | - |   |   |   | 899.0 |   |   |   | - |   |
| Investments                                                                       |   |                   | 105.9   |   |                   |   | - |   |   |   | - |   |   |   | 1,568.1 |   |
| Other                                                                             |   |                   | 96.0    |   |                   |   | - |   |   |   | 75.5 |   |   |   | - |   |
| Total                                                                             |   | $                      | 2,211.9 |   |                   | $      | 3,777.7 |   |   | $ | 2,133.5 |   |   | $ | 4,179.3 |   |

----

|                                              |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|---------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                              |   | (In      Millions) |   |
|                                              |   |               |   |   |   |   |   |   |   |
| Balance      at January 1                         |   | $                  | 519.9  |   |   | $      | 456.8  |   |   | $ | 494.8 |   |
| Additions      for tax positions of prior years   |   |               | 152.0  |   |   |   | 94.4   |   |   |   | 33.2 |   |
| Reductions      for tax positions of prior years  |   |               | (60.9  | )      |   |   | (8.1   | )      |   |   | (18.6 | ) |
| Additions      for tax positions of current years |   |               | 1.3    |   |   |   | 2.9    |   |   |   | 7.5 |   |
| Reduction      for tax positions of current year  |   |               | -      |   |   |   | -      |   |   |   | (1.2 | ) |
| Settlements      with tax authorities             |   |               | (6.5   | )      |   |   | (26.1  | )      |   |   | (58.9 | ) |
| Balance,      December 31                         |   | $                  | 605.8  |   |   | $      | 519.9  |   |   | $ | 456.8 |   |

| 16) | DISCONTINUED      OPERATIONS |
|-----|------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |   |   |   |   |   |   |   |
| Losses      from Discontinued Operations, Net      of Income Taxes:                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               |   |   |   |   |   |   |   |
| Wind-up      Annuities                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                  | (16.2  | )      |   | $      | (27.5  | )      |   | $ | (.1 | ) |
| Real      estate held-for-sale                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               | -      |   |   |   | 1.5    |   |   |   | (6.7 | ) |
| Disposal      of business - Enterprise                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 1.1    |   |   |   | (3.5   | )      |   |   | (2.4 | ) |
| Total                                                                                                                  |   | $                  | (15.1  | )      |   | $      | (29.5  | )      |   | $ | (9.2 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |   |   |   |   |   |   |   |   |   |   |
| Gains      (Losses) on Disposal of Discontinued Operations, Net      of Income Taxes:                                                                                                                                                                                                                                                                                                                                                                                                                         |   |               |   |   |   |   |   |   |   |   |   |   |
| Real      estate      held-for-sale                                                                                    |   | $                  | -      |   |   | $      | 6.3    |   |   | $ | 3.1 |   |
| Disposal      of business -      Enterprise                                                                            |   |               | -      |   |   |   | 1.2    |   |   |   | (6.7 | ) |
| Total                                                                                                                  |   | $                  | -      |   |   | $      | 7.5    |   |   | $ | (3.6 | ) |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | December      31,  |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 2009(1)            |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |   |
| BALANCE      SHEETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |   |   |   |   |
| Fixed      maturities, available for sale, at estimated fair value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |   |   |   |
| (amortized      cost of $530.5 and      $661.8)                                                                                      |   | $                  | 543.5  |   |   | $ | 602.1 |   |
| Mortgage      loans on real      estate                                                                                    |   |               | 150.4  |   |   |   | 1.2 |   |
| Equity      real      estate                                                                                               |   |               | 92.2   |   |   |   | 162.2 |   |
| Other      invested      assets                                                                                            |   |               | 84.4   |   |   |   | 1.3 |   |
| Total      investments                                                                                                               |   |               | 870.5  |   |   |   | 766.8 |   |
| Other      assets                                                                                                          |   |               | .5     |   |   |   | 77.1 |   |
| Total      Assets                                                                                                          |   | $                  | 871.0  |   |   | $ | 843.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |   |   |   |   |   |   |
| Policyholders      liabilities                                                                                             |   | $                  | 705.1  |   |   | $ | 723.4 |   |
| Other      liabilities                                                                                                     |   |               | 165.9  |   |   |   | 120.5 |   |
| Total      Liabilities                                                                                                     |   | $                  | 871.0  |   |   | $ | 843.9 |   |

| (1)   | Amounts      are now included in the consolidated balance sheet at December 31, 2009 on      a line-by-line basis. |
|-----------------|--------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |
| STATEMENTS      OF EARNINGS                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |   |   |   |   |   |   |   |
| Investment      income (net of investment                                                                                                                                                                                                                                                                                                                                                                                   |   |               |   |   |   |   |   |   |   |
| expenses      of $10.2, $19.3 and      $19.6)                                                                   |   | $                  | 60.0   |   |   | $      | 64.0   |   |   | $ | 64.9 |   |
| Investment      gains (losses), net:                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Total      OTTI losses                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | (5.1   | )      |   |   | (5.6   | )      |   |   | (8.6 | ) |
| Portion      of loss recognized in other                                                                                                                                                                                                                                                                                                                                                                                    |   |               |   |   |   |   |   |   |   |   |   |   |
| comprehensive      income                                                                                                      |   |               | -      |   |   |   | -      |   |   |   | - |   |
| Net      impairment losses      recognized                                                                                               |   |               | (5.1   | )      |   |   | (5.6   | )      |   |   | (8.6 | ) |
| Other      investment (losses) gains,      net                                                                  |   |               | (1.3   | )      |   |   | .8     |   |   |   | 7.8 |   |
| Total      investment losses,      net                                                                                                                  |   |               | (6.4   | )      |   |   | (4.8   | )      |   |   | (.8 | ) |
| Policy      fees, premiums and other income                                                                                                                                                                                                                                                                                                                                                                                 |   |               | (2.8   | )      |   |   | .1     |   |   |   | .2 |   |
| Total      revenues                                                                                   |   |               | 50.8   |   |   |   | 59.3   |   |   |   | 64.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Benefits      and other      deductions                                                               |   |               | 69.2   |   |   |   | 101.7  |   |   |   | 80.0 |   |
| Losses      charged to the                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |   |   |   |   |   |   |   |   |   |   |
| allowance      for future      losses                                                                           |   |               | -      |   |   |   | -      |   |   |   | (15.6 | ) |
| Pre-tax      loss from      operations                                                                |   |               | (18.4  | )      |   |   | (42.4  | )      |   |   | (.1 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Income      tax      benefit                                                                          |   |               | 8.7    |   |   |   | 14.9   |   |   |   | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Losses      from Wind-up      Annuities                                                               |   |               | (9.7   | )      |   |   | (27.5  | )      |   |   | (.1 | ) |
| Consolidation      Elimination                                                                        |   |               | (6.5   | )      |   |   | -      |   |   |   | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Loss      from Wind-up Annuities as Consolidated                                                                                                                                                                                                                                                                                                                                                                            |   | $                  | (16.2  | )      |   | $      | (27.5  | )      |   | $ | (.1 | ) |

| 17) | ACCUMULATED      OTHER COMPREHENSIVE (LOSS) INCOME |
|-----|----------------------------------------------------|

|                                                                                            |   |               |     |   | December      31, |   |     |   |   |
|-------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|-------------------|--------|----------|--------|--------|
|                                                                                            |   | 2009               |     |   | 2008              |   |     | 2007   |   |
|                                                                                            |   | (In      Millions) |     |
|                                                                                            |   |               |     |
| Unrealized      (losses) gains on investments                                                   |   | $                  | (44.8    | )      |              | $      | (1,692.3 | )      |   | $ | 61.4 |   |
| Defined      benefit pension and other postretirement plans                                     |   |               | (1,212.2 | )      |              |   | (1,179.2 | )      |   |   | (517.6 | ) |
| Impact      of implementing new accounting guidance, net      of taxes                          |   |               | (74.3    | )      |              |   | -        |   |   |   | - |   |
| Total      accumulated other comprehensive loss                                                 |   |               | (1,331.3 | )      |              |   | (2,871.5 | )      |   |   | (456.2 | ) |
| Accumulated      other comprehensive (income) loss attributable to noncontrolling      interest |   |               | (15.1    | )      |              |   | 17.1     |   |   |   | (22.6 | ) |
| Accumulated      Other Comprehensive Loss Attributable to AXA Financial,      Inc.              |   | $                  | (1,346.4 | )      |              | $      | (2,854.4 | )      |   | $ | (478.8 | ) |

----

|                                                                                        |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|---------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                        |   | (In      Millions) |     |
|                                                                                        |   |               |     |
| Net      unrealized gains (losses) on investments:                                          |   |               |     |   |   |   |     |   |   |
| Net      unrealized gains (losses)                                                          |   |               |     |   |   |   |     |   |   |
| arising      during the period                                                         |   | $                  | 3,213.9  |   |   | $      | (3,253.0 | )      |   | $ | (419.9 | ) |
| (Gains)      losses reclassified into net                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| (loss)      earnings during the period                                                      |   |               | (176.0   | )      |   |   | 83.3     |   |   |   | 21.2 |   |
| Net      unrealized gains (losses) on investments                                           |   |               | 3,389.9  |   |   |   | (3,336.3 | )      |   |   | (441.1 | ) |
| Adjustments      for policyholders liabilities, DAC and VOBA and deferred income      taxes |   |               | (1,742.2 | )      |   |   | 1,582.6  |   |   |   | 234.5 |   |
| Change      in unrealized gains (losses), net of adjustments                                |   |               | 1,647.7  |   |   |   | (1,753.7 | )      |   |   | (206.6 | ) |
| Change      in defined benefit pension and other postretirement      plans                  |   |               | (33.2    | )      |   |   | (661.6   | )      |   |   | 123.5 |   |
| Total      other comprehensive income (loss), net of income    taxes                        |   |               | 1,614.5  |   |   |   | (2,415.3 | )      |   |   | (83.1 | ) |
| Other      comprehensive (income) loss attributable      to noncontrolling interest         |   |               | (32.2    | )      |   |   | 39.7     |   |   |   | (16.8 | ) |
| Other      Comprehensive Income (Loss) Attributable to AXA Financial,      Inc.             |   | $                  | 1,582.3  |   |   | $      | (2,375.6 | )      |   | $ | (99.9 | ) |

| 18) | COMMITMENTS      AND CONTINGENT LIABILITIES |
|-----|---------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                           |   | December      31,  |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 2009               |   |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                           |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               |   |   |   |   |   |   |   |
| Balance,      beginning of      year                                                                |   | $                  | 91.5   |   |   | $ | 84.5 |   |   | $ | 72.5 |   |
| Additions                                                                                           |   |               | 79.1   |   |   |   | 67.9 |   |   |   | 44.7 |   |
| Cash      payments                                                                                  |   |               | (120.6 | ) |   |   | (46.6 | ) |   |   | (31.0 | ) |
| Other      reductions                                                                               |   |               | (10.2  | ) |   |   | (14.3 | ) |   |   | (1.7 | ) |
| Balance,      End of      Year                                                                      |   | $                  | 39.8   |   |   | $ | 91.5 |   |   | $ | 84.5 |   |

| 19) | LITIGATION |
|-----|------------|

----

----

| 20) | INSURANCE      GROUP STATUTORY FINANCIALINFORMATION |
|-----|-----------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                 |               | 2009   |                     |   | 2008   |   |     | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|--------------------------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                 | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                 |               |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                 |               |   |                     |   |   |   |     |   |   |
| Net      change in statutory surplus and capital stock                                                                                                                                                                                                                                                                                                                                                               |               | $      | 175.6                    |   |   | $      | (3,806.0 | )      |   | $ | (36.6 | ) |
| Change      in      AVR                                                                        |               |   | 285.1                    |   |   |   | (913.5   | )      |   |   | (201.2 | ) |
| Net      change in statutory surplus, capital stock and      AVR                                                                                                                                                                                                                                                                                                                                           |               |   | 460.7                    |   |   |   | (4,719.5 | )      |   |   | (237.8 | ) |
| Adjustments:                                                                                                                                                                                                                                                                                                                                                                                                         |               |   |                     |   |   |   |     |   |   |   |   |   |
| Future      policy benefits and policyholders’                                                                                                                                                                                                                                                                                                                                                                 |               |   |                     |   |   |   |     |   |   |   |   |   |
| account      balances                                                                                              |               |   | (6,022.9                 | )      |   |   | 168.0    |   |   |   | 473.1 |   |
| DAC      and      VOBA                                                                                   |               |   | 808.7                    |   |   |   | (2,186.6 | )      |   |   | 596.1 |   |
| Deferred      income      taxes                                                                          |               |   |  1,196.8            |   |   |   | (4,166.8 | )      |   |   | (694.6 | ) |
| Valuation      of      investments                                                                       |               |   | (707.5                   | )      |   |   | 3,700.7  |   |   |   | (18.5 | ) |
| Valuation      of investment      subsidiary                                                             |               |   |  (628.9             | )      |   |   | 5,248.4  |   |   |   | 483.7 |   |
| Change      in fair value of GMIB                                                                                                                                                                                                                                                                                                                                                                                    |               |   |                     |   |   |   |     |   |   |   |   |   |
| reinsurance      contracts                                                                                         |               |   |  (2,572.8           | )      |   |   | 1,575.2  |   |   |   | 6.9 |   |
| Pension      adjustment                                                                                  |               |   |  52.5               |   |   |   | 1,531.3  |   |   |   | - |   |
| Premiums      and benefits ceded to AXA Bermuda                                                                                                                                                                                                                                                                                                                                                                      |               |   |  5,540.8            |   |   |   | 2,846.7  |   |   |   | - |   |
| Issuance      of surplus notes                                                                                                                                                                                                                                                                                                                                                                                  |               |   |  -                  |   |   |   | (1,000.0 | )      |   |   | - |   |
| Shareholder      dividends paid                                                                                                                                                                                                                                                                                                                                                                                 |               |   |  -                  |   |   |   | 95.0     |   |   |   | 680.0 |   |
| Changes      in non-admitted      assets                                                                 |               |   |  (28.6              | )      |   |   | 199.8    |   |   |   | 67.0 |   |
| AXA      Financial, other subsidiaries and                                                                                                                                                                                                                                                                                                                                                                           |               |   |      |   |   |   |     |   |   |   |   |   |
| consolidation/elimination      adjustments                                                                                                                                                                                                                                                                                                                                                                           |               |   |  (994.7             | )      |   |   | 318.1    |   |   |   | (3.2 | ) |
| Other,      net                                                                                          |               |   |  (30.6              | )      |   |   | (8.6     | )      |   |   | (59.6 | ) |
| U.S.      GAAP adjustments for Wind-up Annuities                                                                                                                                                                                                                                                                                                                                                                     |               |   |  (195.5             | )      |   |   | (16.7    | )      |   |   | 31.2 |   |
| U.S.      GAAP Net (Loss) Earnings                                                                                                                                                                                                                                                                                                                                                                                   |               |   |                     |   |   |   |     |   |   |   |   |   |
| Attributable      to AXA Financial,      Inc.                                                                           |               | $      | (3,122.0                 | )      |   | $      | 3,585.0  |   |   | $ | 1,324.3 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                     | December      31,  |             |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                     |               |        2009 |   |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (In      Millions) |             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                     |               |             |
| Statutory      surplus and capital      stock                                                                       |               | $                | 3,900.1 |   |   | $ | 3,724.5 |   |   | $ | 7,530.5 |   |
| AVR                                                                                                                 |               |             | 781.3 |   |   |   | 496.3 |   |   |   | 1,409.8 |   |
| Statutory      surplus, capital stock and      AVR                                                                  |               |             |  4,681.4 |   |   |   | 4,220.8 |   |   |   | 8,940.3 |   |
| Adjustments:                                                                                                                                                                                                                                                                                                                                                                                                                                             |               |             |   |   |   |   |   |   |   |   |   |   |
| Future      policy benefits and policyholders’                                                                                                                                                                                                                                                                                                                                                                                                     |               |             |   |   |   |   |   |   |   |   |   |   |
| account      balances                                                                                                                   |               |             | (2,004.9 | ) |   |   | (1,344.7 | ) |   |   | (2,352.2 | ) |
| DAC      and      VOBA                                                                                                        |               |             |  8,486.6 |   |   |   | 8,471.4 |   |   |   | 9,980.1 |   |
| Deferred      income      taxes                                                                                               |               |             |  (3,895.2 | ) |   |   | (4,710.8 | ) |   |   | (1,202.7 | ) |
| Valuation      of      investments                                                                                            |               |             |  814.9 |   |   |   | (3,004.9 | ) |   |   | 474.4 |   |
| Valuation      of investment      subsidiary                                                                                  |               |             |  (1,222.8 | ) |   |   | 469.0 |   |   |   | (4,779.4 | ) |
| Fair      value of GMIB reinsurance contracts                                                                                                                                                                                                                                                                                                                                                                                                            |               |             |  2,257.1 |   |   |   | 4,830.0 |   |   |   | 124.6 |   |
| Deferred      cost of insurance                                                                                                                                                                                                                                                                                                                                                                                                                          |               |             |   |   |   |   |   |   |   |   |   |   |
| ceded      to AXA      Bermuda                                                                                                          |               |             |  3,177.5 |   |   |   | 3,495.8 |   |   |   | - |   |
| Pension      adjustment                                                                                                       |               |             |  44.7 |   |   |   | 478.7 |   |   |   | - |   |
| Non-admitted      assets                                                                                                      |               |             |  1,275.0 |   |   |   | 1,530.9 |   |   |   | 1,331.6 |   |
| Issuance      of surplus      notes                                                                                           |               |             |  (1,524.9 | ) |   |   | (1,524.9 | ) |   |   | (525.9 | ) |
| Goodwill      related to the MONY Acquisition                                                                                                                                                                                                                                                                                                                                                                                                            |               |             |  379.9 |   |   |   | 383.1 |   |   |   | 391.1 |   |
| AXA      Financial, other subsidiaries and                                                                                                                                                                                                                                                                                                                                                                                                               |               |             |   |   |   |   |   |   |   |   |   |   |
| consolidation/elimination      adjustments                                                                                              |               |             | (1,728.7 | ) |   |   | 138.2 |   |   |   | (380.0 | ) |
| Other,      net                                                                                                               |               |             |  (67.4) |   |   |   | (606.1 | ) |   |   | (481.4 | ) |
| U.S.      GAAP adjustments for Wind-up Annuities                                                                                                                                                                                                                                                                                                                                                                                                         |               |             |  - |   |   |   | 12.4 |   |   |   | 1.5 |   |
| U.S.      GAAP Total                                                                                                                                                                                                                                                                                                                                                                                                                                     |               |             |   |   |   |   |   |   |   |   |   |   |
| AXA      Financial,      Inc.                                                                                                                |               | $                |  10,673.2 |   |   | $ | 12,838.9 |   |   | $ | 11,522.0 |   |

| 21) | BUSINESS      SEGMENT INFORMATION |
|-----|-----------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009               |    |   | 2008   |   |     | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (In      Millions) |    |
| Segment      revenues:                                                                                                                                                                                                                                                                                                                                                                                                |   |               |    |   |   |   |     |   |   |
| Financial      Advisory/Insurance                                                               |   | $                  | 343.6   |   |   | $      | 16,677.2 |   |   | $ | 8,874.4 |   |
| Investment      Management(1)                                                                                                                                                                                                                                                                                                                                                                                         |   |               | 2,941.0 |   |   |   | 3,539.8  |   |   |   | 4,561.9 |   |
| Consolidation/elimination                                                                       |   |               | (36.0   | )      |   |   | (76.5    | )      |   |   | (91.4 | ) |
| Total      Revenues                                                                             |   | $                  | 3,248.6 |   |   | $      | 20,140.5 |   |   | $ | 13,344.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |    |   |   |   |     |   |   |   |   |   |

| (1)   | Intersegment      investment advisory and other fees of approximately $67.7 million, $102.7      million and $124.7 million for 2009, 2008 and 2007, respectively, are      included in total revenues of the Investment Management      segment. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009               |     |   | 2008   |   |    | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |     |   |   |   |    |   |   |
| Segment (loss) earnings from      continuing operations before income taxes:                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |    |   |   |
| Financial      Advisory/Insurance                                                               |   | $                  | (5,112.8 | )      |   | $      | 4,922.6 |   |   | $ | 1,341.9 |   |
| Investment      Management(2)                                                                                                                                                                                                                                                                                                                                                                                         |   |               | 526.2    |   |   |   | 853.6   |   |   |   | 1,323.2 |   |
| Consolidation/elimination                                                                       |   |               | 4.8      |   |   |   | (.4     | )      |   |   | (.1 | ) |
| Total      (Loss) Earnings from Continuing Operations before Income    Taxes                                                                                                                                                                                                                                                                                                                                          |   | $                  | (4,581.8 | )      |   | $      | 5,775.8 |   |   | $ | 2,665.0 |   |

| (2)   | Net      of interest expenses incurred on securities  borrowed. |
|-----------------|-----------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | December      31,  |      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |      |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      Millions) |      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |   |   |   |
| Segment      assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |      |   |   |   |
| Financial      Advisory/Insurance                                                                                        |   | $                  | 159,818.1 |   |   | $ | 144,473.1 |   |
| Investment      Management                                                                                               |   |               | 12,026.1  |   |   |   | 13,377.3 |   |
| Consolidation/elimination                                                                                                |   |               | (19.3     | ) |   |   | (21.5 | ) |
| Total      Assets                                                                                                        |   | $                  | 171,824.9 |   |   | $ | 157,828.9 |   |

| 22) | QUARTERLY      RESULTS OF OPERATIONS (UNAUDITED) |
|-----|--------------------------------------------------|

|                                                                                                                                                                                                                                                                                              |   | Three      Months Ended |    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|---------|
|                                                                                                                                                                                                                                                                                              |   | March      31           |    |   | June      30 |   |   | September      30 |   |   | December      31 |   |
|                                                                                                                                                                                                                                                                                              |   | (In      Millions)      |    |
|                                                                                                                                                                                                                                                                                              |   |                    |    |
| 2009                                                                                                                                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |
| Total      Revenues                                              |   | $                       | 2,294.7 |   |   | $ | (1,813.9 | ) |   | $ | 1,595.9 |   |   | $ | 1,171.9 |   |
|                                                                                                                                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss      from Continuing                                                                                                                                                                                                                                                                         |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operations,      Net of Income Taxes                                                                                                                                                                                                                                                              |   | $                       | (37.2   | ) |   | $ | (2,064.1 | ) |   | $ | (397.9 | ) |   | $ | (607.7 | ) |
|                                                                                                                                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Loss Attributable to                                                                                                                                                                                                                                                                     |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AXA      Financial,      Inc.                                              |   | $                       | (39.1   | ) |   | $ | (2,065.7 | ) |   | $ | (405.1 | ) |   | $ | (612.1 | ) |
|                                                                                                                                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2008                                                                                                                                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Revenues                                              |   | $                       | 4,278.1 |   |   | $ | 2,868.2 |   |   | $ | 3,754.6 |   |   | $ | 9,239.6 |   |
|                                                                                                                                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      from Continuing                                                                                                                                                                                                                                                                     |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operations,      Net of Income Taxes                                                                                                                                                                                                                                                              |   | $                       | 612.6   |   |   | $ | 532.4 |   |   | $ | 98.5 |   |   | $ | 2,363.5 |   |
|                                                                                                                                                                                                                                                                                              |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Earnings Attributable to                                                                                                                                                                                                                                                                 |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AXA      Financial, Inc.                                                                                                                                                                                                                                                                          |   | $                       | 618.9   |   |   | $ | 530.3 |   |   | $ | 98.3 |   |   | $ | 2,337.5 |   |

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |     |   |            |   |     | Carrying |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|-----------------|--------|----------|----------|--------|
| Type of Investment                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Cost      (A)      |     |   | Fair      Value |   |     | Value    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |     |
| Fixed      maturities:                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |     |   |            |   |     |     |   |
| U.S.      government, agencies and authorities                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                  | 4,213.5  |   |            | $      | 3,955.4  |     |   | $ | 3,955.4 |   |
| State,      municipalities and political subdivisions                                                                                                                                                                                                                                                                                                                                                                                               |   |               | 442.2    |   |            |   | 430.9    |     |   |   | 430.9 |   |
| Foreign      governments                                                                                            |   |               | 324.9    |   |            |   | 359.9    |     |   |   | 359.9 |   |
| Public      utilities                                                                                               |   |               | 4,422.9  |   |            |   | 4,605.2  |     |   |   | 4,605.2 |   |
| All      other corporate      bonds                                                                                 |   |               | 28,701.5 |   |            |   | 28,969.2 |     |   |   | 28,969.2 |   |
| Redeemable      preferred      stocks                                                                               |   |               | 2,110.2  |   |            |   | 1,811.0  |     |   |   | 1,811.0 |   |
| Total      fixed      maturities                                                                                    |   |               | 40,215.2 |   |            |   | 40,131.6 |     |   |   | 40,131.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |     |   |            |   |     |     |   |   |   |   |
| Equity      securities:                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |     |   |            |   |     |     |   |   |   |   |
| Common      stocks:                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |            |   |     |     |   |   |   |   |
| Industrial,      miscellaneous and all      other                                                                             |   |               | 48.5     |   |            |   | 58.3     |     |   |   | 58.3 |   |
| Mortgage      loans on real      estate                                                                   |   |               | 4,939.1  |   |            |   | 4,904.5  |     |   |   | 4,939.1 |   |
| Real      estate                                                                                          |   |               | 416.5    |   |            |   | N/A      |     |   |   | 416.5 |   |
| Real      estate acquired in satisfaction of debt                                                                                                                                                                                                                                                                                                                                                                                                   |   |               | -        |   |            |   | N/A      |     |   |   | - |   |
| Real      estate joint      ventures                                                                      |   |               | 98.5     |   |            |   | N/A      |     |   |   | 98.5 |   |
| Policy      loans                                                                                         |   |               | 4,973.4  |   |            |   | 5,744.2  |     |   |   | 4,973.4 |   |
| Other      limited partnership interests and                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |            |   |     |     |   |   |   |   |
| equity      investments                                                                                             |   |               | 1,622.7  |   |            |   | 1,622.7  |     |   |   | 1,622.7 |   |
| Trading      securities                                                                                   |   |               | 1,819.8  |   |            |   | 1,928.5  |     |   |   | 1,928.5 |   |
| Other      invested      assets                                                                           |   |               | 1,632.6  |   |            |   | 1,632.6  |     |   |   | 1,632.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |     |   |            |   |     |     |   |   |   |   |
| Total      Investments                                                                                    |   | $                  | 55,766.3 |   |            | $      | 56,022.4 |     |   | $ | 55,801.2 |   |

| (A)   | Cost      for fixed maturities represents original cost, reduced by repayments and      writedowns and adjusted for amortization of premiums or accretion of      discount; cost for equity securities represents original cost reduced by      writedowns; cost for other limited partnership interests represents      original cost adjusted for equity in earnings and reduced by      distributions. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2009               |     |   | 2008   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |     |   |   |   |
| Investment      in consolidated      subsidiaries                                                                                      |   | $                  | 15,844.6 |   |   | $      | 17,568.1 |   |
| Fixed      maturities available for sale, at fair value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |               |     |   |   |   |   |   |
| (amortized      costs, $1.9 and      $3.9)                                                                                                       |   |               | 1.9      |   |   |   | 3.9 |   |
| Total      investments                                                                                                                                               |   |               | 15,846.5 |   |   |   | 17,572.0 |   |
| Cash      and cash      equivalents                                                                                                    |   |               | 203.7    |   |   |   | 27.1 |   |
| Loans      to      affiliates                                                                                                          |   |               | 1,337.0  |   |   |   | 1,335.0 |   |
| Intangible      assets,      net                                                                                                       |   |               | 2.2      |   |   |   | 4.5 |   |
| Income      taxes      receivable                                                                                                      |   |               | 307.2    |   |   |   | 354.5 |   |
| Other      assets                                                                                                                      |   |               | 524.2    |   |   |   | 515.3 |   |
| Total      Assets                                                                                                                      |   | $                  | 18,220.8 |   |   | $      | 19,808.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |   |   |
| LIABILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               |     |   |   |   |   |   |
| Short-term      and long-term      debt                                                                                                |   | $                  | 1,130.6  |   |   | $      | 1,139.3 |   |
| Loans      from      affiliates                                                                                                        |   |               | 5,041.4  |   |   |   | 4,530.0 |   |
| Liability      for employee benefit      plans                                                                                         |   |               | 1,159.7  |   |   |   | 1,136.1 |   |
| Accrued      liabilities                                                                                                               |   |               | 215.9    |   |   |   | 164.1 |   |
| Total      liabilities                                                                                                                                               |   |               | 7,547.6  |   |   |   | 6,969.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |   |   |
| AXA      FINANCIAL, INC. EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |   |   |   |   |
| Common      stock, $.01 par value, 2.00 billion shares authorized,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |     |   |   |   |   |   |
| 436.2      million shares issued and      outstanding                                                                                            |   |               | 3.9      |   |   |   | 3.9 |   |
| Capital      in excess of par      value                                                                                               |   |               | 648.9    |   |   |   | 1,298.9 |   |
| Retained      earnings                                                                                                                 |   |               | 11,401.1 |   |   |   | 14,448.8 |   |
| Accumulated      other comprehensive      loss                                                                                         |   |               | (1,346.4 | )      |   |   | (2,854.4 | ) |
| Treasury      shares, at      cost                                                                                                     |   |               | (34.3    | )      |   |   | (58.3 | ) |
| Total      AXA Financial, Inc.      equity                                                                                                                                |   |               | 10,673.2 |   |   |   | 12,838.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               |     |   |   |   |   |   |
| Total      Liabilities and AXA Financial, Inc. Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                  | 18,220.8 |   |   | $      | 19,808.4 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 2009               |     |   | 2008   |   |    | 2007   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | (In      Millions) |     |
| REVENUES                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |     |   |   |   |    |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |    |   |   |
| Equity      in (losses) earnings from continuing operations of consolidated      subsidiaries                                                                                                                                                                                                                                                                                                                                                                             |   | $                  | (2,664.8 | )      |   | $      | 4,092.0 |   |   | $ | 2,045.7 |   |
| Net      investment income:                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |               |     |   |   |   |    |   |   |   |   |   |
| Investment      (loss) income from derivative      instruments                                                                                                                                                                                                                                                                                                                                                                                                            |   |               | (115.6   | )      |   |   | (30.4   | )      |   |   | (19.6 | ) |
| Other      investment income                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               | 202.4    |   |   |   | 28.1    |   |   |   | 36.6 |   |
| Total      net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 86.8     |   |   |   | 2.3     |   |   |   | 17.0 |   |
| Investment      gains,      net                                                                                       |   |               | -        |   |   |   | .1      |   |   |   | 8.2 |   |
| Other      income                                                                                                     |   |               | -        |   |   |   | -       |   |   |   | 1.1 |   |
| Total      revenues                                                                                                                                 |   |               | (2,578.0 | )      |   |   | 4,089.8 |   |   |   | 2,072.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |    |   |   |   |   |   |
| EXPENSES                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |     |   |   |   |    |   |   |   |   |   |
| Interest      expense                                                                                                 |   |               | 267.9    |   |   |   | 162.8   |   |   |   | 203.6 |   |
| Amortization      of other intangible      assets                                                                     |   |               | 2.3      |   |   |   | 14.4    |   |   |   | 13.0 |   |
| General      and administrative      expenses                                                                         |   |               | 19.3     |   |   |   | 18.3    |   |   |   | 21.1 |   |
| Total      expenses                                                                                                                                 |   |               | 289.5    |   |   |   | 195.5   |   |   |   | 237.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |    |   |   |   |   |   |
| (Loss)      earnings from continuing operations before                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |     |   |   |   |    |   |   |   |   |   |
| income      taxes                                                                                                               |   |               | (2,867.5 | )      |   |   | 3,894.3 |   |   |   | 1,834.3 |   |
| Income      tax benefit      (expense)                                                                                |   |               | 65.4     |   |   |   | 31.1    |   |   |   | (13.9 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |    |   |   |   |   |   |
| (Loss)      earnings from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | (2,802.1 | )      |   |   | 3,925.4 |   |   |   | 1,820.4 |   |
| Equity      in (losses) earnings from discontinued                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |    |   |   |   |   |   |
| operations,      net of income      taxes                                                                                       |   |               | (15.1    | )      |   |   | (29.5   | )      |   |   | (9.2 | ) |
| Equity      in gains (losses) on disposal of discontinued                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |   |   |    |   |   |   |   |   |
| operations,      net of income      taxes                                                                                       |   |               | -        |   |   |   | 7.5     |   |   |   | (3.6 | ) |
| Net      (Loss)      Earnings                                                                                         |   | $                  | (2,817.2 | )      |   | $      | 3,903.4 |   |   | $ | 1,807.6 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |               |     |   |   |   |    |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009               |     |   | 2008   |   | 2007     |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |
| Net      (loss)      earnings                                                                                           |   | $                  | (2,817.2 | )      |   | $      | 3,903.4  |   |   | $ | 1,807.6 |   |
| Adjustments      to reconcile net (loss) earnings to net                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |     |   |   |   |     |   |   |   |   |   |
| cash      provided by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| Equity      in net loss (earnings) of subsidiaries                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 2,679.9  |   |   |   | (4,070.0 | )      |   |   | (2,032.9 | ) |
| Dividends      from subsidiaries                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |               | 130.0    |   |   |   | 270.1    |   |   |   | 880.4 |   |
| Change      in investment income related to derivative instruments                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 115.6    |   |   |   | -        |   |   |   | - |   |
| Investment      gains, net                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               | -        |   |   |   | (.1      | )      |   |   | (8.2 | ) |
| Change      in income tax receivable                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 47.3     |   |   |   | (32.7    | )      |   |   | 183.6 |   |
| Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               | (16.6    | )      |   |   | 26.9     |   |   |   | (161.6 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash provided by operating      activities                                                                     |   |               | 139.0    |   |   |   | 97.6     |   |   |   | 668.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Cash      flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |     |   |   |   |     |   |   |   |   |   |
| Maturities      and      repayments                                                                                               |   |               | 2.0      |   |   |   | 1.1      |   |   |   | .8 |   |
| Sales      of      investments                                                                                                    |   |               | -        |   |   |   | -        |   |   |   | 4.9 |   |
| Purchase      of AllianceBernstein      Units                                                                                     |   |               | -        |   |   |   | -        |   |   |   | (745.7 | ) |
| Repayments      of loans to      affiliates                                                                                       |   |               | 11.5     |   |   |   | -        |   |   |   | 100.0 |   |
| Additional      loans to      affiliates                                                                                          |   |               | (13.5    | )      |   |   | (1,006.0 | )      |   |   | (4.0 | ) |
| Purchases      of      investments                                                                                                |   |               | (119.2   | )      |   |   | -        |   |   |   | - |   |
| Contributions      to      subsidiaries                                                                                           |   |               | (440.0   | )      |   |   | (2,070.8 | )      |   |   | (160.1 | ) |
| Other                                                                                                                             |   |               | (12.8    | )      |   |   | (4.4     | )      |   |   | 17.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash used in investing      activities                                                                         |   |               | (572.0   | )      |   |   | (3,080.1 | )      |   |   | (786.8 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Cash      flows from financing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |     |   |   |   |     |   |   |   |   |   |
| Repayment      of long-term      debt                                                                                             |   |               | -        |   |   |   | (250.0   | )      |   |   | - |   |
| Change      in short-term      debt                                                                                               |   |               | (10.9    | )      |   |   | (8.7     | )      |   |   | (.8 | ) |
| Proceeds      from loans from      affiliates                                                                                     |   |               | 4,312.6  |   |   |   | 3,250.0  |   |   |   | 850.0 |   |
| Repayments      of loans from      affiliates                                                                                     |   |               | (3,690.0 | )      |   |   | (65.0    | )      |   |   | (785.0 | ) |
| Other                                                                                                                             |   |               | (2.1     | )      |   |   | (12.2    | )      |   |   | 5.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash provided by financing      activities                                                                     |   |               | 609.6    |   |   |   | 2,914.1  |   |   |   | 69.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Change      in cash and cash      equivalents                                                                           |   |               | 176.6    |   |   |   | (68.4    | )      |   |   | (48.6 | ) |
| Cash      and cash equivalents, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               | 27.1     |   |   |   | 95.5     |   |   |   | 144.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Cash      and Cash Equivalents, End of      Year                                                                        |   | $                  | 203.7    |   |   | $      | 27.1     |   |   | $ | 95.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |     |   |   |   |     |   |   |   |   |   |
| Supplemental      cash flow information:                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               |     |   |   |   |     |   |   |   |   |   |
| Interest      Paid                                                                                                                |   | $                  | 61.7     |   |   | $      | 69.8     |   |   | $ | 78.0 |   |
| Income      Taxes      Refunded                                                                                                   |   | $                  | 110.8    |   |   | $      | 5.2      |   |   | $ | 20.7 |   |

----

|                                                                                                                                                                          |   |               |    |                 |   | Future      Policy   |   | Policy  |     |       |   |                 |   | Amortization     |     |       |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|----------------------|--------|----------------------|--------|---------|----------|------------|--------|----------------------|--------|------------------|----------|------------|--------|
|                                                                                                                                                                          |   | Deferred           |    |                 |   | Benefits             |   | Charges |     | Net        |   | Policyholders’ |   | of      Deferred |     |       |   |
|                                                                                                                                                                          |   | Policy             |    | Policyholders’ |   | and      Other       |   | And     |     | Investment |   | Benefits      and    |   | Policy           |     | Other      |   |
|                                                                                                                                                                          |   | Acquisition        |    | Account              |   | Policyholders’ |   | Premium |     | Loss(1)    |   | Interest             |   | Acquisition      |     | Operating  |   |
| Segment                                                                                                                                                                       |   | Costs              |    | Balances             |   | Funds                |   | Revenue |     | Income     |   | Credited             |   | Costs            |     | Expense(2) |   |
|                                                                                                                                                                          |   | (In      Millions) |    |
|                                                                                                                                                                          |   |               |    |
| Financial      Advisory/                                                                                                                                                      |   |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |     |       |   |
| Insurance                                   |   | $                  | 9,015.4 |                 | $      | 27,522.4             |   | $       | 26,320.3 |       | $      | 4,608.8              |   | $                | (4,122.2 | )          | $      | 3,623.6 |   | $ | (58.5 | ) | $ | 1,891.3 |   |
| Investment                                                                                                                                                                    |   |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |     |       |   |   |   |   |   |   |   |   |   |
| Management                                       |   |               | -       |                 |   | -                    |   |    | -        |       |   | -                    |   |             | 148.8    |       |   | - |   |   | - |   |   | 2,414.8 |   |
| Consolidation/                                                                                                                                                                |   |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |     |       |   |   |   |   |   |   |   |   |   |
| Elimination                                 |   |               | -       |                 |   | -                    |   |    | -        |       |   | -                    |   |             | 30.3     |       |   | - |   |   | - |   |   | (40.8 | ) |
| Total                             |   | $                  | 9,015.4 |                 | $      | 27,522.4             |   | $       | 26,320.3 |       | $      | 4,608.8              |   | $                | (3,943.1 | )          | $      | 3,623.6 |   | $ | (58.5 | ) | $ | 4,265.3 |   |
|                                                                                                                                                                          |   |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |     |       |   |   |   |   |   |   |   |   |   |

| (1)   | Net      investment loss is based upon specific identification of portfolios within      segments. |
|-----------------|----------------------------------------------------------------------------------------------------|

| (2)   | Operating      expenses are principally incurred directly by a  segment. |
|-----------------|--------------------------------------------------------------------------|

----

|                                                                                                                                                                    |               |    |                 |   | Future      Policy   |   | Policy  |     |       |   |                 |   | Amortization     |    |       |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|---------|----------------------|--------|----------------------|--------|---------|----------|------------|--------|----------------------|--------|------------------|---------|------------|--------|
|                                                                                                                                                                    | Deferred           |    |                 |   | Benefits             |   | Charges |     |       |   | Policyholders’ |   | of      Deferred |    |       |   |
|                                                                                                                                                                    | Policy             |    | Policyholders’ |   | and      Other       |   | And     |     | Net        |   | Benefits      and    |   | Policy           |    | Other      |   |
|                                                                                                                                                                    | Acquisition        |    | Account              |   | Policyholders’ |   | Premium |     | Investment |   | Interest             |   | Acquisition      |    | Operating  |   |
| Segment                                                                                                                                                                 | Costs              |    | Balances             |   | Funds                |   | Revenue |     | Income(1)  |   | Credited             |   | Costs            |    | Expense(2) |   |
|                                                                                                                                                                    | (In      Millions) |    |
|                                                                                                                                                                    |               |    |
| Financial      Advisory/                                                                                                                                                |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |    |       |   |
| Insurance                                  | $                  | 8,503.3 |                 | $      | 28,258.8             |   | $       | 26,274.6 |       | $      | 4,697.1              |   | $                | 9,505.2 |       | $      | 6,947.7 |   | $ | 2,975.0 |   | $ | 1,831.9 |   |
| Investment                                                                                                                                                              |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |    |       |   |   |   |   |   |   |   |   |   |
| Management                                 |               | -       |                 |   | -                    |   |    | -        |       |   | -                    |   |             | (290.7  | )          |   | - |   |   | - |   |   | 2,686.2 |   |
| Consolidation/                                                                                                                                                          |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |    |       |   |   |   |   |   |   |   |   |   |
| Elimination                                |               | -       |                 |   | -                    |   |    | -        |       |   | -                    |   |             | 26.4    |       |   | - |   |   | - |   |   | (76.1 | ) |
| Total                            | $                  | 8,503.3 |                 | $      | 28,258.8             |   | $       | 26,274.6 |       | $      | 4,697.1              |   | $                | 9,240.9 |       | $      | 6,947.7 |   | $ | 2,975.0 |   | $ | 4,442.0 |   |
|                                                                                                                                                                    |               |    |                 |   |                 |   |    |     |       |   |                 |   |             |    |       |   |   |   |   |   |   |   |   |   |

| (1)   | Net      investment income is based upon specific identification of portfolios      within segments. |
|-----------------|------------------------------------------------------------------------------------------------------|

| (2)   | Operating      expenses are principally incurred directly by a  segment. |
|-----------------|--------------------------------------------------------------------------|

----

|                                                                                                                                   |   | Policy             |    |       |   |                 |   | Amortization     |    |       |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|------------|--------|----------------------|--------|------------------|---------|------------|--------|
|                                                                                                                                   |   | Charges            |    |       |   | Policyholders’ |   | of      Deferred |    |       |   |
|                                                                                                                                   |   | and                |    | Net        |   | Benefits      and    |   | Policy           |    | Other      |   |
|                                                                                                                                   |   | Premium            |    | Investment |   | Interest             |   | Acquisition      |    | Operating  |   |
| Segment                                                                                                                                |   | Revenue            |    | Income(1)  |   | Credited             |   | Costs            |    | Expense(2) |   |
|                                                                                                                                   |   | (In      Millions) |    |
|                                                                                                                                   |   |               |    |
| Financial      advisory/Insurance                                                                                       |   | $                  | 4,534.7 |       | $      | 3,235.7              |   | $                | 4,282.1 |       | $      | 1,217.5 |   | $ | 2,032.9 |   |
| Investment      Management                   |   |               | -       |       |   | 123.0                |   |             | -       |       |   | - |   |   | 3,238.7 |   |
| Consolidation/Elimination                                                                      |   |               | -       |       |   | 27.7                 |   |             | -       |       |   | - |   |   | (91.3 | ) |
| Total                                                                                                         |   | $                  | 4,534.7 |       | $      | 3,386.4              |   | $                | 4,282.1 |       | $      | 1,217.5 |   | $ | 5,180.3 |   |

| (1)   | Net      investment income is based upon specific identification of portfolios      within segments. |
|-----------------|------------------------------------------------------------------------------------------------------|

| (2)   | Operating      expenses are principally incurred directly by a  segment. |
|-----------------|--------------------------------------------------------------------------|

----

|                              |   |                       |      |   |          |   |      | Assumed   |   |   |     |   |   | Percentage     |
|-----------------------------------|--------|----------------------------|-----------|--------|---------------|--------|-----------|-----------|--------|--------|----------|--------|--------|----------------|
|                              |   |                       |      |   | Ceded      to |   |      | from      |   |   |     |   |   | of      Amount |
|                              |   | Gross                      |      |   | Other         |   |      | Other     |   |   | Net      |   |   | Assumed        |
|                              |   | Amount                     |      |   | Companies     |   |      | Companies |   |   | Amount   |   |   | to      Net    |
|                              |   | (Dollars      In Millions) |      |
| 2009                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |
| Life      Insurance In-force      |   | $                          | 497,472.5 |   |          | $      | 217,914.9 |      |   | $      | 38,352.4 |   |   | $              | 317,910.0 |   |   |   | 12.1 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
|        Premiums:             |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      insurance and annuities |   | $                          | 1,388.2   |   |          | $      | 145.5     |      |   | $      | 178.7    |   |   | $              | 1,421.4 |   |   |   | 12.5 | % |
| Accident      and health          |   |                       | 153.7     |   |          |   | 103.4     |      |   |   | 18.9     |   |   |           | 69.2 |   |   |   | 27.3 | % |
| Total      Premiums               |   | $                          | 1,541.9   |   |          | $      | 248.9     |      |   | $      | 197.6    |   |   | $              | 1,490.6 |   |   |   | 13.3 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| 2008                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      Insurance In-force      |   | $                          | 482,540.6 |   |          | $      | 231,036.7 |      |   | $      | 39,169.6 |   |   | $              | 290,673.5 |   |   |   | 13.48 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Premiums:                         |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      insurance and annuities |   | $                          | 1,426.9   |   |          | $      | 146.0     |      |   | $      | 168.6    |   |   | $              | 1,449.5 |   |   |   | 11.64 | % |
| Accident      and health          |   |                       | 163.5     |   |          |   | 114.2     |      |   |   | 23.3     |   |   |           | 72.6 |   |   |   | 32.10 | % |
| Total      Premiums               |   | $                          | 1,590.4   |   |          | $      | 260.2     |      |   | $      | 191.9    |   |   | $              | 1,522.1 |   |   |   | 12.61 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| 2007                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      Insurance In-force      |   | $                          | 473,580.9 |   |          | $      | 209,940.4 |      |   | $      | 40,334.2 |   |   | $              | 303,974.7 |   |   |   | 13.27 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Premiums:                         |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      insurance and annuities |   | $                          | 1,511.1   |   |          | $      | 184.7     |      |   | $      | 173.7    |   |   | $              | 1,500.1 |   |   |   | 11.58 | % |
| Accident      and health          |   |                       | 120.0     |   |          |   | 83.5      |      |   |   | 25.0     |   |   |           | 61.5 |   |   |   | 40.65 | % |
| Total      Premiums               |   | $                          | 1,631.1   |   |          | $      | 268.2     |      |   | $      | 198.7    |   |   | $              | 1,561.6 |   |   |   | 12.72 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |

| (A)   | Includes      amounts related to the discontinued group life and health      business. |
|-----------------|----------------------------------------------------------------------------------------|

----

----

----

----

----

----

----

----

|                                         | 2009                |   | 2008   |   |
|----------------------------------------------|---------------------|--------|--------|--------|
|                                         | (In      Thousands) |   |
| Principal      Accounting Fees and Services: |                |   |
| Audit      fees                              |                | $      | 15,263 |   |   | $ | 18,029 |   |
| Audit      related fees                      |                |   | 2,662  |   |   |   | 2,504 |   |
| Tax      fees                                |                |   | 2,270  |   |   |   | 2,376 |   |
| All      other fees                          |                |   | 42     |   |   |   | 257 |   |
| Total                                        |                | $      | 20,237 |   |   | $ | 23,166 |   |

----

| (A)   | The      following documents are filed as part of this  report: |
|-----------------|-----------------------------------------------------------------|

| 1.   | Financial      Statements |
|----------------|---------------------------|

| 2.   | Consolidated      Financial Statement Schedules |
|----------------|-------------------------------------------------|

| 3.   | Exhibits |
|----------------|----------|

----

| Date: | March      10, 2010 |   | AXA      FINANCIAL, INC. |
|-------|---------------------|--------|--------------------------|

|   |   |   | By:    | /s/      Christopher M. Condron                     |
|--------|--------|--------|--------|-----------------------------------------------------|
|   |   |   | Name:  | Christopher      M. Condron                         |
|   |   |   |   | President      and Chief Executive Officer,Director |

|                            |   |                                        |   |                |
|---------------------------------|--------|---------------------------------------------|--------|---------------------|
| /s/      Henri de Castries      |   | Chairman      of the Board, Director        |   | March      10, 2010 |
| Henri      de Castries          |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Christopher M. Condron |   | President      and Chief Executive Officer, |   | March      10, 2010 |
| Christopher      M. Condron     |   | Director                                    |   |                |
|                            |   |                                        |   |                |
| /s/      Richard S. Dziadzio    |   | Executive      Vice President and           |   | March      10, 2010 |
| Richard      S. Dziadzio        |   | Chief      Financial Officer                |   |                |
|                            |   |                                        |   |                |
| /s/      Alvin H. Fenichel      |   | Senior      Vice President and Chief        |   | March      10, 2010 |
| Alvin      H. Fenichel          |   | Accounting      Officer                     |   |                |
|                            |   |                                        |   |                |
| /s/      Denis Duverne          |   | Director                                    |   | March      10, 2010 |
| Denis      Duverne              |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Charlynn Goins         |   | Director                                    |   | March      10, 2010 |
| Charlynn      Goins             |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Anthony J. Hamilton    |   | Director                                    |   | March      10, 2010 |
| Anthony      J. Hamilton        |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Mary R. Henderson      |   | Director                                    |   | March      10, 2010 |
| Mary      R. Henderson          |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      James F. Higgins       |   | Director                                    |   | March      10, 2010 |
| James      F. Higgins           |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Peter S. Kraus         |   | Director                                    |   | March      10, 2010 |
| Peter      S. Kraus             |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Scott D. Miller        |   | Director                                    |   | March      10, 2010 |
| Scott      D. Miller            |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Joseph H. Moglia       |   | Director                                    |   | March      10, 2010 |
| Joseph      H. Moglia           |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Lorie A. Slutsky       |   | Director                                    |   | March      10, 2010 |
| Lorie      A. Slutsky           |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Ezra Suleiman          |   | Director                                    |   | March      10, 2010 |
| Ezra      Suleiman              |   |                                        |   |                |
|                            |   |                                        |   |                |
| /s/      Peter J. Tobin         |   | Director                                    |   | March      10, 2010 |
| Peter      J. Tobin             |   |                                        |   |                |

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| Number |   | Description                                                                                                                                                                                                                                                                                                       |   | Method of Filing                                                                                                                                                                                                     |   |   |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 2.1    |   | Acquisition      Agreement dated as of June 20, 2000, amended and restated as of October 2,      2000, among AllianceBernstein, AllianceBernstein Holding, Alliance Capital      Management LLC, Bernstein, Bernstein Technologies Inc., SCB Partners Inc.,      Sanford C. Bernstein & Co., LLC, and SCB LLC |   | Filed      as Exhibit 2.1 to Alliance’s Annual Report on Form 10-K for the year ended      December 31, 2000 and incorporated herein by reference                                                              |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 2.2    |   | Purchase      Agreement dated as of June 20, 2000 by and among Alliance, AXA Financial      and Bernstein                                                                                                                                                                                                         |   | Filed      as Exhibit 10.18 to Alliance’s Annual Report on Form 10-K for the year      ended December 31, 2000 and incorporated herein by    reference                                                         |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 2.3    |   | Financing      Agreement dated as of June 20, 2000 between AXA Financial and      Alliance                                                                                                                                                                                                                        |   | Filed      as Exhibit 10.19 to Alliance’s Annual Report on Form 10-K for the year      ended December 31, 2000 and incorporated herein by    reference                                                         |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 2.4    |   | Letter      Agreement dated as of June 20, 2000 between AXA Financial and      Bernstein                                                                                                                                                                                                                          |   | Filed      as Exhibit 10.20 to Alliance’s Annual Report on Form 10-K for the year      ended December 31, 2000 and incorporated herein by    reference                                                         |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 2.5    |   | Agreement      and Plan of Merger dated as of September 17, 2003 among AXA Financial,      AIMA Acquisition Co. and MONY                                                                                                                                                                                          |   | Filed      as Exhibit 2.1 to the registrant’s Current Report on Form 8-K dated      September 18, 2003 and incorporated herein by reference                                                                    |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 2.6    |   | Amendment      No.1 to the Agreement and Plan of Merger dated as of February 22, 2004      among AXA Financial, AIMA Acquisition Co. and MONY                                                                                                                                                                     |   | Filed      as Exhibit 2.1 to the registrant’s Current Report on Form 8-K dated      February 23, 2004 and incorporated herein by reference                                                                     |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 2.7    |   | Acquisition      agreement dated as September 14, 2005 between AXA Financial, Inc. and      Merrill Lynch, Pierce, Fenner & Smith Incorporated.                                                                                                                                                               |   | Filed      as Exhibit 99.1 to the registrant’s Current Report on Form 8-K dated      September 14, 2005 and incorporated herein by reference                                                                   |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 3.1    |   | Restated      Certificate of Incorporation of AXA Financial                                                                                                                                                                                                                                                       |   | Filed      as Exhibit 4.01(a) to Post-Effective Amendment No. 1 to the registrant’s      Form S-3 Registration Statement (No. 333-03224), dated May 27, 1997 and      incorporated herein by reference         |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 3.2    |   | Amendment      to Restated Certificate of Incorporation of AXA Financial                                                                                                                                                                                                                                          |   | Filed      as Exhibit 4.01(g) to Post-Effective Amendment No. 1 to the      registrant’sForm      S-3 Registration Statement(No.      333-03224), dated May 27, 1997 and incorporated herein by      reference |   |   |
|   |   |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                 |   |   |
| 3.3    |   | Corrected      Certificate of Amendment of Restated Certificate of Incorporation of AXA      Financial                                                                                                                                                                                                            |   | Filed      as Exhibit 3 to the registrant’s Current Report on Form 8-K dated      September 1, 1999 and incorporated herein by reference                                                                       |   |   |

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| Number |   | Description                                                                                                                                                                                                                                |   | Method of Filing                                                                                                                                                               |   |   |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 3.4    |   | Amendment      to the Restated Certificate of Incorporation of AXA Financial dated May      19, 2000                                                                                                                                       |   | Filed      as Exhibit 3.4 to the registrant’sForm      10-Q for the quarter ended June 30, 2000 and incorporated herein by      reference                                |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 3.5    |   | By-laws      of AXA Financial, as amended effective March 23, 2000                                                                                                                                                                         |   | Filed      as Exhibit 3.3 to the registrant’s Annual Report on Form 10-K for the year      ended December 31, 1999 and incorporated herein by    reference               |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 4.1    |   | Form      of Certificate for AXA Financial’s Common Stock, par value $.01 per      share                                                                                                                                             |   | Filed      as Exhibit 4(c) to the registrant’sForm      S-1 Registration Statement(No.      33-48115), dated May 26, 1992 and incorporated herein by      reference      |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 4.2    |   | Indenture,      dated as of December 1, 1993, from AXA Financial to Chemical Bank, as      Trustee                                                                                                                                         |   | Filed      as Exhibit 4.02 to the registrant’sForm      S-4 Registration Statement(No.      33-73102), dated December 17, 1993 and incorporated herein by      reference |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 4.3    |   | Fourth      Supplemental Indenture, datedApril      1, 1998, from AXA Financial to The Chase Manhattan Bank (formerly known as      Chemical Bank), as Trustee, together with forms of global Senior Note and      global Senior Indenture |   | Filed      as Exhibit 4.18(a) to the registrant’s Current Report on Form 8-K dated      April 7, 1998 and incorporated herein by reference                               |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 4.4    |   | Fifth      Supplemental Indenture, dated July 28, 2000, from AXA Financial to The      Chase Manhattan Bank (formerly known as Chemical Bank), as Trustee,      together with the form of global Senior Note                               |   | Filed      as Exhibit 4.18(d) to the registrant’s Current Report on Form 8-K dated      July 31, 2000 and incorporated herein by reference                               |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 9.1(a) |   | Voting      Trust Agreement dated as of May 12, 1992, among AXA, Claude Bébéar,      Patrice Garnier and Henri de Clermont-Tonnerre                                                                                              |   | Filed      as Exhibit 9 to the registrant’sForm      S-1 Registration Statement(No.      33-48115), dated May 26, 1992 and incorporated herein by      reference         |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 9.1(b) |   | First      Amendment dated January 22, 1997 to the Voting Trust Agreement dated as      ofMay      12, 1992                                                                                                                                |   | Filed      as Exhibit 9(b) to the registrant’s Annual Report on Form 10-K for the      year ended December 31, 1997 and incorporated herein by      reference            |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 9.1(c) |   | Amended      and Restated Voting Trust Agreement dated May 12, 2002                                                                                                                                                                        |   | Filed      as Exhibit 9.1(c) to the registrant’s Annual Report on Form 10-K for the      year ended December 31, 2002 and incorporated herein by      reference          |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 10.1   |   | Cooperation      Agreement, dated as of July 18, 1991, as amended among AXA Equitable, AXA      Financial and AXA                                                                                                                          |   | Filed      as Exhibit 10(d) to the registrant’sForm      S-1 Registration Statement(No.      33-48115), dated May 26, 1992 and incorporated herein by      reference     |   |   |
|   |   |                                                                                                                                                                                                                                       |   |                                                                                                                                                                           |   |   |
| 10.2   |   | Letter      Agreement, dated May 12, 1992, among AXA Equitable, AXA Financial and      AXA                                                                                                                                                 |   | Filed      as Exhibit 10(e) to the registrant’sForm      S-1 Registration Statement(No.      33-48115), dated May 26, 1992 and incorporated herein by      reference     |   |   |

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| Number |   | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Method of Filing                                                                                                                                                           |   |   |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.3   |   | Amended      and Restated Reinsurance Agreement, dated as of March 29, 1990, between      AXA Equitable and First Equicor Life Insurance Company                                                                                                                                                                                                                                                                                                                        |   | Filed      as Exhibit 10(o) to the registrant’sForm      S-1 Registration Statement(No.      33-48115), dated May 26, 1992 and incorporated herein by      reference |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.4   |   | The      Amended and Restated Transfer Agreement dated as of February 23, 1993, as      amended and restated on May 28, 1993, among Alliance, Equitable Capital      and Equitable Investment Corporation                                                                                                                                                                                                                                                               |   | Filed      as Exhibit 19 to the registrant’s Statement on Schedule 13D dated July 29,      1993 and incorporated herein by reference                                 |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.5   |   | Management      Compensation Arrangements with Mr. de Castries                                                                                                                                                                                                                                                                                                                                                                                                          |   | Filed      as Exhibit 10.22 to the registrant’s Annual Report on Form 10-K for the      year ended December 31, 1997 and incorporated herein by      reference       |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.6   |   | Exchange      Agreement dated as ofSeptember      27, 1994, between AXA and AXA Financial                                                                                                                                                                                                                                                                                                                                                                               |   | Filed      as Exhibit 10.01 to registrant’s Form S-4 Registration Statement (No.      33-84462), dated September 28, 1994 and incorporated herein by      reference  |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.7   |   | Employment      Agreement dated May 11, 2001 between AXA Financial, AXA Equitable and      Christopher M. Condron +                                                                                                                                                                                                                                                                                                                                                     |   | Filed      as Exhibit 10.16 to the registrant’s Form 10-Q for the quarter ended June      30, 2001 and incorporated herein by reference                              |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.8   |   | Issuing      and Paying Agency Agreement among AXA Financial, Inc., AXA and JPMorgan      Chase Bank, National Association, dated as of June 3, 2009                                                                                                                                                                                                                                                                                                                    |   | Filed      as Exhibit 10.1 to the registrant’s Form 10-Q for the quarter ended June      30, 2009 and incorporated herein by reference                               |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.9   |   | Commercial      Paper Dealer Agreement among AXA Financial, Inc., AXA and J.P. Morgan      Securities Inc., dated as of June 3, 2009                                                                                                                                                                                                                                                                                                                                    |   | Filed      as Exhibit 10.2 to the registrant’s Form 10-Q for the quarter ended June      30, 2009 and incorporated herein by reference                               |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.10  |   | Commercial      Paper Dealer Agreement among AXA Financial, Inc., AXA and Citigroup Global      Markets Inc., dated as of June 3, 2009                                                                                                                                                                                                                                                                                                                                  |   | Filed      as Exhibit 10.3 to the registrant’s Form 10-Q for the quarter ended June      30, 2009 and incorporated herein by reference                               |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.11  |   | Commercial      Paper Dealer Agreement among AXA Financial, Inc, AXA and Banc of America      Securities LLC, dated as of June 3, 2009                                                                                                                                                                                                                                                                                                                                  |   | Filed      as Exhibit 10.4 to the registrant’s Form 10-Q for the quarter ended June      30, 2009 and incorporated herein by reference                               |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |
| 10.12  |   | Credit      Agreement dated as of December 15, 2009 (as amended and restated on      February 25, 2010) between AXA, AXA Financial, Inc., AXA Financial      (Bermuda) Ltd., the lenders named therein, HSBC France, as agent, HSBC      Bank USA, National Association, as swingline agent, and BNP Paribas,      Calyon, Deutsche Bank AG London Branch, HSBC France and Societe Generale      Corporate & Investment Banking, as mandated lead    arrangers |   | Filed      herewith                                                                                                                                                        |   |   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                       |   |   |

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| Number |   | Description                                                                                |   | Method of Filing                                                                                                                                                |   |   |
|--------|--------|--------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 13.1   |   | AllianceBernstein      Risk Factors                                                        |   | Filed      herewith                                                                                                                                             |   |   |
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 18     |   | Preferability      Letter from PricewaterhouseCoopers LLP                                  |   | Filed      as Exhibit 18 to the Registrant’s Annual Report on Form 10-K for the year      ended December 31, 2002 and incorporated herein by    reference |   |   |
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 21     |   | Subsidiaries      of the registrant                                                        |   | Omitted      pursuant to General Instruction I of Form 10-K                                                                                                     |   |   |
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 23.1   |   | Consent      of PricewaterhouseCoopers LLP                                                 |   | Filed      herewith                                                                                                                                             |   |   |
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 31.1   |   | Section      302 Certification made by the registrant’s Chief Executive      Officer |   | Filed      herewith                                                                                                                                             |   |   |
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 31.2   |   | Section      302 Certification made by the registrant’s Chief Financial      Officer |   | Filed      herewith                                                                                                                                             |   |   |
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 32.1   |   | Section      906 Certification made by the registrant’s Chief Executive      Officer |   | Filed      herewith                                                                                                                                             |   |   |
|   |   |                                                                                       |   |                                                                                                                                                            |   |   |
| 32.2   |   | Section      906 Certification made by the registrant’s Chief Financial      Officer |   | Filed      herewith                                                                                                                                             |   |   |