CLOSED BLOCKS

12 Months Ended

Dec. 31, 2011

Closed Blocks [Abstract]

CLOSED BLOCKS

• CLOSED BLOCK

Summarized financial information for the AXA Equitable Closed Block is as follows:

			December 31,
			2011		2010
			(In Millions)
CLOSED BLOCK LIABILITIES:
Future policy benefits, policyholders’ account balances and other			$	8,121	$	8,272
Policyholder dividend obligation				260		119
Other liabilities				86		142
Total Closed Block liabilities				8,467		8,533
ASSETS DESIGNATED TO THE CLOSED BLOCK:
Fixed maturities, available for sale, at fair value (amortized cost of
	$5,342 and $5,416)			5,686		5,605
Mortgage loans on real estate				1,205		981
Policy loans				1,061		1,119
Cash and other invested assets				30		281
Other assets				207		245
Total assets designated to the Closed Block				8,189		8,231
Excess of Closed Block liabilities over assets designated to the Closed Block				278		302
Amounts included in accumulated other comprehensive income (loss):
	Net unrealized investment gains (losses), net of deferred income tax
		(expense) benefit of $(33) and $(28) and policyholder
		dividend obligation of $(260) and $(119)		62		53
Maximum Future Earnings To Be Recognized From Closed Block
	Assets and Liabilities		$	340	$	355

AXA Equitable's Closed Block revenues and expenses follow:

			2011		2010		2009
			(In Millions)
REVENUES:
Premiums and other income			$	354	$	365	$	382
Investment income (loss) (net of investment expenses of $0, $0 and $1)				438		468		482
Investment gains (losses), net:
	Total Other-than-temporary impairment losses			(12)		(31)		(10)
	Portion of loss recognized in other comprehensive income (loss)			-		1		-
		Net impairment losses recognized		(12)		(30)		(10)
	Other investment gains (losses), net			2		7		-
		Total investment gains (losses), net		(10)		(23)		(10)
Total revenues				782		810		854
BENEFITS AND OTHER DEDUCTIONS:
Policyholders’ benefits and dividends				757		776		812
Other operating costs and expenses				2		2		2
Total benefits and other deductions				759		778		814
Net revenues, before income taxes				23		32		40
Income tax (expense) benefit				(8)		(11)		(14)
Net Revenues			$	15	$	21	$	26

A reconciliation of AXA Equitable's policyholder dividend obligation follows:

		December 31,
	2011		2010
	(In Millions)
Balances, beginning of year	$	119	$	-
Unrealized investment gains (losses)		141		119
Balances, End of year	$	260	$	119

Impaired mortgage loans along with the related investment valuation allowances follows:

	December 31,
	2011			2010
	(In Millions)
Impaired mortgage loans with investment valuation allowances	$	61	$	62
Impaired mortgage loans without investment valuation allowances		2		3
Recorded investment in impaired mortgage loans		63		65
Investment valuation allowances		(9)		(7)
Net Impaired Mortgage Loans	$	54	$	58

During 2011, 2010 and 2009, AXA Equitable's Closed Block's average recorded investment in impaired mortgage loans were $63 million, $13 million and $0 million, respectively. Interest income recognized on these impaired mortgage loans totaled $3 million, $1 million and $0 million for 2011, 2010 and 2009, respectively.

Valuation allowances on mortgage loans at December 31, 2011 and 2010 were $9 million and $7 million, respectively.