10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2013

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             

Commission File No. 000-20501

AXA Equitable Life Insurance Company

(Exact name of registrant as specified in its charter)

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

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

(212) 554-1234

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address, and former fiscal year if changed since last report.)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “accelerated filer,” “large accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

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

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

As of August 8, 2013, 2,000,000 shares of the registrant’s Common Stock were outstanding.

AXA EQUITABLE LIFE INSURANCE COMPANY

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2013

TABLE OF CONTENTS

			Page
PART I	FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements (Unaudited)
	•	Consolidated Balance Sheets, June 30, 2013 and December 31, 2012		4
	•	Consolidated Statements of Earnings (Loss), Three Months and Six Months Ended June 30, 2013 and 2012		6
	•	Consolidated Statements of Comprehensive Income (Loss), Three Months and Six Months Ended June 30, 2013 and 2012		7
	•	Consolidated Statements of Equity, Six Months Ended June 30, 2013 and 2012		8
	•	Consolidated Statements of Cash Flows, Six Months Ended June 30, 2013 and 2012		9
	•	Notes to Consolidated Financial Statements (Unaudited)		11
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations			61
Item 3.	Quantitative and Qualitative Disclosures About Market Risk			103
Item 4.	Controls and Procedures			103
PART II	OTHER INFORMATION
Item 1.	Legal Proceedings			104
Item 1A.	Risk Factors			104
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds			104
Item 3.	Defaults Upon Senior Securities			104
Item 4.	Mine Safety Disclosures			104
Item 5.	Other Information			104
Item 6.	Exhibits			105
SIGNATURES				106

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FORWARD-LOOKING STATEMENTS

Certain of the statements included or incorporated by reference in this Quarterly Report on Form 10-Q, including but not limited to those in Management’s Discussion and Analysis of Financial Condition and Results of Operations, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “includes,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon AXA Equitable Life Insurance Company and its subsidiaries (“AXA Equitable”). There can be no assurance that future developments affecting AXA Equitable will be those anticipated by management. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements, including, among others: (i) difficult conditions in the global capital markets and economy; (ii) equity market declines and volatility causing, among other things, a reduction in the demand for our products, a reduction in the revenue derived from asset-based fees, a reduction in the value of securities held for investment, including the investment in AllianceBernstein, an acceleration in DAC amortization and an increase in the liabilities related to annuity contracts offering enhanced guarantee features, which may lead to changes in the fair value of our GMIB reinsurance contracts, causing our earnings to be volatile; (iii) interest rate fluctuations or prolonged periods of low interest rates causing, among other things, a reduction in our portfolio earnings, a reduction in the margins on interest sensitive annuity and life insurance contracts and an increase in the reserve requirements for such products, and a reduction in the demand for the types of products we offer; (iv) ineffectiveness of our reinsurance and hedging programs to protect against the full extent of the exposure or loss we seek to mitigate; (v) changes in policyholder assumptions under the reinsured contracts, the performance of AXA Arizona’s hedge program, its liquidity needs and changes in regulatory requirements could adversely impact our reinsurance arrangements with AXA RE Arizona Company; (vi) regulatory or legislative changes, including government actions in response to the stress experienced by the global financial markets; (vii) changes to statutory capital requirements; (viii) our requirements to pledge collateral or make payments related to declines in estimated fair value of certain assets may impact our liquidity or expose us to counterparty credit risk; (ix) counterparty non-performance; (x) changes in statutory reserve requirements; (xi) differences between actual experience regarding mortality, morbidity, persistency, surrender experience, interest rates or market returns and the assumptions used in pricing products, establishing liabilities and reserves or for other purposes; (xii) changes in assumptions related to deferred policy acquisition costs; (xiii) our use of numerous financial models, which rely on estimates, assumptions and projections that are inherently uncertain and involve the exercise of significant judgment; (xiv) market conditions could adversely affect our goodwill; (xv) investment losses and defaults, and changes to investment valuations; (xvi) liquidity of certain investments; (xvii) changes in claims-paying or credit ratings; (xviii) adverse determinations in litigation or regulatory matters; (xix) changes in tax law; (xx) heightened competition, including with respect to pricing, entry of new competitors, consolidation of distributors, the development of new products by new and existing competitors and for personnel; (xxi) our inability to recruit, motivate and retain experienced and productive financial professionals and key employees and the ability of our financial professionals to sell competitors’ products; (xxii) changes in accounting standards, practices and/or policies; (xxiii) the effects of business disruption or economic contraction due to terrorism, other hostilities, pandemics, or natural or man-made catastrophes; (xxiv) ineffectiveness of risk management policies and procedures in identifying, monitoring and managing risks; (xxv) the perception of our brand and reputation in the marketplace; (xxvi) the impact on our business resulting from changes in the demographics of our client base, as baby-boomers move from the asset-accumulation to the asset-distribution stage of life; (xxvii) the impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including our ability to integrate acquisitions and to obtain the anticipated results and synergies from acquisitions; (xxviii) significant changes in securities market valuations affecting fee income, poor investment performance resulting in a loss of clients or other factors affecting the performance of AllianceBernstein; and (xxix) other risks and uncertainties described from time to time in AXA Equitable’s filings with the SEC.

AXA Equitable does not intend, and is under no obligation, to update any particular forward-looking statement included in this document. See “Risk Factors” included in the Annual Report on Form 10-K for the year ended December 31, 2012 and elsewhere in this report for discussion of certain risks relating to its businesses.

3

PART I FINANCIAL INFORMATION

Item 1: Consolidated Financial Statements

AXA EQUITABLE LIFE INSURANCE COMPANY

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

	June 30, 2013		December 31, 2012
	(In Millions)
ASSETS
Investments:
Fixed maturities available for sale, at fair value	$	31,300	$	33,607
Mortgage loans on real estate		5,364		5,059
Equity real estate, held for the production of income		4		4
Policy loans		3,450		3,512
Other equity investments		1,809		1,643
Trading securities		3,219		2,309
Other invested assets		1,334		1,828
Total investments		46,480		47,962
Cash and cash equivalents		1,419		3,162
Cash and securities segregated, at fair value		835		1,551
Broker-dealer related receivables		1,622		1,605
Deferred policy acquisition costs		3,959		3,728
Goodwill and other intangible assets, net		3,661		3,673
Amounts due from reinsurers		3,840		3,847
Loans to affiliates		1,035		1,037
Guaranteed minimum income benefit reinsurance contract asset, at fair value		8,707		11,044
Other assets		4,941		5,095
Separate Accounts’ assets		99,750		94,139
Total Assets	$	176,249	$	176,843
LIABILITIES
Policyholders’ account balances	$	29,256	$	28,263
Future policy benefits and other policyholders’ liabilities		22,253		22,687
Broker-dealer related payables		489		664
Amounts due to reinsurers		66		75
Customers related payables		1,545		2,562
Short-term and long-term debt		546		523
Loans from affiliates		825		1,325
Current and deferred income taxes		3,638		5,172
Other liabilities		2,790		3,503
Separate Accounts’ liabilities		99,750		94,139
Total liabilities		161,158		158,913
Commitments and contingent liabilities (Notes 10 and 11)

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AXA EQUITABLE LIFE INSURANCE COMPANY

CONSOLIDATED BALANCE SHEETS - CONTINUED

(UNAUDITED)

	June 30, 2013			December 31, 2012
	(In Millions)
EQUITY
Common stock, $1.25 par value; 2 million shares authorized, issued and outstanding		2			2
Capital in excess of par value		6,011			5,992
Retained earnings		7,070			9,125
Accumulated other comprehensive income (loss)		(596	)		317
Total AXA Equitable’s equity		12,487			15,436
Noncontrolling interest		2,604			2,494
Total equity		15,091			17,930
Total Liabilities and Equity	$	176,249		$	176,843

See Notes to Consolidated Financial Statements (Unaudited).

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AXA EQUITABLE LIFE INSURANCE COMPANY

CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)

(UNAUDITED)

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
REVENUES
Universal life and investment-type product policy fee income	$	853		$	821		$	1,750		$	1,649
Premiums		128			116			254			259
Net investment income (loss):
Investment income (loss) from derivative instruments		(739	)		1,517			(1,646	)		(42	)
Other investment income (loss)		529			545			1,094			1,178
Total net investment income (loss)		(210	)		2,062			(552	)		1,136
Investment gains (losses), net:
Total other-than-temporary impairment losses		(50	)		(50	)		(64	)		(53	)
Portion of loss recognized in other comprehensive income (loss)		15			1			15			1
Net impairment losses recognized		(35	)		(49	)		(49	)		(52	)
Other investment gains (losses), net		1			(4	)		(1	)		(9	)
Total investment gains (losses), net		(34	)		(53	)		(50	)		(61	)
Commissions, fees and other income		949			852			1,864			1,706
Increase (decrease) in the fair value of the reinsurance contract asset		(1,149	)		2,677			(2,337	)		834
Total revenues		537			6,475			929			5,523
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits		539			1,250			967			1,387
Interest credited to policyholders’ account balances		251			250			632			566
Compensation and benefits		449			393			872			820
Commissions		292			320			573			651
Distribution related payments		112			86			221			166
Amortization of deferred sales commissions		10			10			21			18
Interest expense		25			27			53			54
Amortization of deferred policy acquisition costs		120			245			159			328
Capitalization of deferred policy acquisition costs		(162	)		(192	)		(321	)		(375	)
Rent expense		42			56			85			117
Amortization of other intangible assets		6			6			12			12
Other operating costs and expenses		370			198			728			519
Total benefits and other deductions		2,054			2,649			4,002			4,263
Earnings (loss) from continuing operations, before income taxes		(1,517	)		3,826			(3,073	)		1,260
Income tax (expense) benefit		549			(1,358	)		1,171			(365	)
Net earnings (loss)		(968	)		2,468			(1,902	)		895
Less: net (earnings) loss attributable to the noncontrolling interest		(83	)		(47	)		(153	)		(109	)
Net Earnings (Loss) Attributable to AXA Equitable	$	(1,051	)	$	2,421		$	(2,055	)	$	786

See Notes to Consolidated Financial Statements (Unaudited).

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AXA EQUITABLE LIFE INSURANCE COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
COMPREHENSIVE INCOME (LOSS)
Net earnings (loss)	$	(968	)	$	2,468		$	(1,902	)	$	895
Other comprehensive income (loss) net of income taxes:
Change in unrealized gains (losses), net of reclassification adjustment		(821	)		385			(977	)		432
Changes in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment		80			(27	)		55			(52	)
Total other comprehensive income (loss), net of income taxes		(741	)		358			(922	)		380
Comprehensive income (loss)		(1,709	)		2,826			(2,824	)		1,275
Less: Comprehensive (income) loss attributable to noncontrolling interest		(78	)		(45	)		(144	)		(108	)
Comprehensive Income (Loss) Attributable to AXA Equitable	$	(1,787	)	$	2,781		$	(2,968	)	$	1,167

See Notes to Consolidated Financial Statements (Unaudited).

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AXA EQUITABLE LIFE INSURANCE COMPANY

CONSOLIDATED STATEMENTS OF EQUITY

SIX MONTHS ENDED JUNE 30, 2013 AND 2012

(UNAUDITED)

	2013			2012
	(In Millions)
EQUITY
AXA Equitable’s Equity:
Common stock, at par value, beginning of year and end of period	$	2		$	2
Capital in excess of par value, beginning of year		5,992			5,743
Changes in capital in excess of par value		19			—
Capital in excess of par value, end of period		6,011			5,743
Retained earnings, beginning of year		9,125			9,392
Net earnings (loss)		(2,055	)		786
Stockholder dividends		—			(181	)
Retained earnings, end of period		7,070			9,997
Accumulated other comprehensive income (loss), beginning of year		317			(297	)
Other comprehensive income (loss)		(913	)		381
Accumulated other comprehensive income (loss), end of period		(596	)		84
Total AXA Equitable’s equity, end of period		12,487			15,826
Noncontrolling interest, beginning of year		2,494			2,703
Repurchase of AllianceBernstein Holding units		(17	)		(61	)
Purchase of noncontrolling interest in consolidated entity		—			—
Net earnings (loss) attributable to noncontrolling interest		153			109
Dividends paid to noncontrolling interest		(144	)		(96	)
Other comprehensive income (loss) attributable to noncontrolling interest		(9	)		(1	)
Other changes in noncontrolling interest		127			111
Noncontrolling interest, end of period		2,604			2,765
Total Equity, End of Period	$	15,091		$	18,591

See Notes to Consolidated Financial Statements (Unaudited).

8

AXA EQUITABLE LIFE INSURANCE COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2013 AND 2012

(UNAUDITED)

	2013			2012
	(In Millions)
Net earnings (loss)		$  (1,902	)	$	895
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances		632			566
Universal life and investment-type product policy fee income		(1,750	)		(1,649	)
Net change in broker-dealer and customer related receivables/payables		(1,038	)		(179	)
(Income) loss related to derivative instruments		1,646			42
Investment (gains) losses, net		50			61
Change in segregated cash and securities, net		717			125
Change in deferred policy acquisition costs		(162	)		(47	)
Change in future policy benefits		(57	)		145
Change in current and deferred income taxes		(1,002	)		203
Change in accounts payable and accrued expenses		20			(21	)
Change in the fair value of the reinsurance contract asset		2,337			(834	)
Amortization of deferred compensation		9			4
Amortization of deferred sales commission		21			18
Other depreciation and amortization		54			56
Amortization of reinsurance cost		135			(22	)
Amortization of other intangibles		12			12
Other, net		36			110
Net cash provided by (used in) operating activities		(242	)		(515	)
Cash flows from investing activities:
Maturities and repayments of fixed maturities and mortgage loans on real estate		2,057			1,960
Sales of investments		1,967			476
Purchases of investments		(4,935	)		(3,619	)
Cash settlements related to derivative instruments		(936	)		316
Change in short-term investments		(24	)		(2	)
Investment in capitalized software, leasehold improvements and EDP equipment		(33	)		(32	)
Other, net		8			(71	)
Net cash provided by (used in) investing activities		(1,896	)		(972	)

9

AXA EQUITABLE LIFE INSURANCE COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2013 AND 2012 - CONTINUED

(UNAUDITED)

	2013			2012
	(In Millions)
Cash flows from financing activities:
Policyholders’ account balances:
Deposits and transfers from Separate Accounts	$	2,614		$	2,575
Withdrawals		(492	)		(393	)
Change in short-term financings		23			(169	)
Repayment of loans from affiliates		(500	)		—
Change in collateralized pledged assets		(332	)		—
Change in collateralized pledged liabilities		(760	)		221
Shareholder dividend paid		—			(181	)
Repurchase of AllianceBernstein Holding units		(27	)		(95	)
Distribution to noncontrolling interests in consolidated subsidiaries		(144	)		(96	)
Other, net		13			12
Net cash provided by (used in) financing activities		395			1,874
Change in cash and cash equivalents		(1,743	)		387
Cash and cash equivalents, beginning of year		3,162			3,227
Cash and Cash Equivalents, End of Period	$	1,419		$	3,614
Supplemental cash flow information:
Interest Paid	$	56		$	54
Income Taxes Paid (Refunded)	$	156		$	160

See Notes to Consolidated Financial Statements (Unaudited).

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AXA EQUITABLE LIFE INSURANCE COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

1) ORGANIZATION AND BASIS OF PRESENTATION

The preparation of the accompanying unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. The accompanying unaudited interim consolidated financial statements reflect all adjustments necessary in the opinion of management for a fair presentation of the consolidated financial position of AXA Equitable and its consolidated results of operations and cash flows for the periods presented. All significant intercompany transactions and balances have been eliminated in consolidation. These statements should be read in conjunction with the audited consolidated financial statements of AXA Equitable for the year ended December 31, 2012. The results of operations for the six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the full year.

At June 30, 2013 and December 31, 2012, the Company’s economic interest in AllianceBernstein was 38.2% and 39.5%, respectively. At June 30, 2013 and December 31, 2012, respectively, AXA and its subsidiaries’ (including AXA Financial Group) economic interest in AllianceBernstein was approximately 64.2% and 65.5%.

The terms “second quarter 2013” and “second quarter 2012” refer to the three months ended June 30, 2013 and 2012, respectively. The terms “first six months of 2013” and “first six months of 2012” refer to the six months ended June 30, 2013 and 2012, respectively.

2) NEW ACCOUNTING PRONOUNCEMENTS

Adoption of New Accounting Pronouncements

In February 2013, the FASB issued new guidance to improve the reporting of reclassifications out of AOCI. The amendments in this guidance require an entity to report the effect of significant reclassifications out of AOCI on the respective line items in the statement of earnings (loss) if the amount being reclassified is required to be reclassified in its entirety to net earnings (loss). For other amounts that are not required to be reclassified in their entirety to net earnings in the same reporting period, an entity is required to cross-reference other disclosures that provide additional detail about those amounts. The guidance requires disclosure of reclassification information either in the notes or the face of the financial statements provided the information is presented in one location. This guidance was effective for interim and annual periods beginning after December 31, 2012. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements.

In July 2012, the FASB issued new guidance on testing indefinite-lived intangible assets for impairment. The guidance is intended to reduce the cost and complexity of the annual indefinite-lived intangible assets impairment test by providing entities with the option of performing a “qualitative” assessment to determine whether further impairment testing is necessary. The guidance was effective for annual and interim indefinite-lived intangible assets impairment tests performed for fiscal years beginning after September 15, 2012. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements.

In December 2011, the FASB issued new and enhanced disclosures about offsetting (netting) of financial instruments and derivatives, including repurchase/reverse repurchase agreements and securities lending/borrowing arrangements, to converge with those required by IFRS. The disclosures require presentation in tabular format of gross and net information about assets and liabilities that either are offset (presented net) on the balance sheet or are subject to master netting agreements or similar arrangements providing rights of setoff, such as global master repurchase, securities lending, and derivative clearing agreements, irrespective of whether the assets and liabilities are offset. Financial instruments subject only to collateral agreements are excluded from the scope of these requirements, however, the tabular disclosures are required to include the fair values of financial collateral, including cash, related to master netting agreements or similar arrangements. In January 2013, the FASB issued new guidance limiting the scope of the new

11

balance sheet offsetting disclosures to derivatives, repurchase agreements, and securities lending transactions to the extent that they are (1) offset in the financial statements or (2) subject to an enforceable master netting arrangement or similar agreement. This guidance was effective for interim and annual periods beginning after January 1, 2013 and is to be applied retrospectively to all comparative prior periods presented. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements.

Future Adoption of New Accounting Pronouncements

In July 2013, the FASB issued new guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this guidance state that an unrecognized tax benefit, or a portion thereof, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. An exception to this guidance would be where a net operating loss carryforward or similar tax loss or credit carryforward would not be available under the tax law to settle any additional income taxes that would result from the disallowance of a tax position, or the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose. In such a case, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance is effective for interim and annual periods beginning after December 15, 2013. Management will be adopting this presentation as of the effective date. Management does not expect implementation of this guidance will have a material impact on the Company’s consolidated financial statements.

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3) INVESTMENTS

Fixed Maturities and Equity Securities

The following table provides information relating to fixed maturities and equity securities classified as AFS:

Available-for-Sale Securities by Classification

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		OTTI in AOCI (3)
	(In Millions)
June 30, 2013:
Fixed Maturities:
Corporate	$	20,670	$	1,527	$	171	$	22,026	$	—
U.S. Treasury, government and agency		5,420		119		266		5,273		—
States and political subdivisions		446		49		2		493		—
Foreign governments		412		50		4		458		—
Commercial mortgage-backed		1,113		14		329		798		25
Residential mortgage-backed(1)		980		43		—		1,023		—
Asset-backed(2)		146		10		4		152		4
Redeemable preferred stock		1,044		54		21		1,077		—
Total Fixed Maturities		30,231		1,866		797		31,300		29
Equity securities		24		—		—		24		—
Total at June 30, 2013	$	30,255	$	1,866	$	797	$	31,324	$	29
December 31, 2012:
Fixed Maturities:
Corporate	$	20,854	$	2,364	$	20	$	23,198	$	—
U.S. Treasury, government and agency		4,664		517		1		5,180		—
States and political subdivisions		445		85		—		530		—
Foreign governments		454		76		—		530		—
Commercial mortgage-backed		1,175		16		291		900		13
Residential mortgage-backed(1)		1,864		85		—		1,949		—
Asset-backed(2)		175		12		5		182		5
Redeemable preferred stock		1,089		60		11		1,138		—
Total Fixed Maturities		30,720		3,215		328		33,607		18
Equity securities		23		1		—		24		—
Total at December 31, 2012	$	30,743	$	3,216	$	328	$	33,631	$	18

⁽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 (loss) in accordance with current accounting guidance.

At June 30, 2013 and December 31, 2012, respectively, the Company had trading fixed maturities with an amortized cost of $186 million and $194 million and carrying values of $178 million and $202 million. Gross unrealized gains on trading fixed maturities were $0 million and $12 million and gross unrealized losses were $8 million and $4 million at June 30, 2013 and December 31, 2012, respectively.

13

The contractual maturities of AFS fixed maturities (excluding redeemable preferred stock) at June 30, 2013 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

Available-for-Sale Fixed Maturities

Contractual Maturities at June 30, 2013

	Amortized Cost		Fair Value
	(In Millions)
Due in one year or less	$	666	$	672
Due in years two through five		7,460		7,975
Due in years six through ten		11,123		11,720
Due after ten years		7,699		7,883
Subtotal		26,948		28,250
Commercial mortgage-backed securities		1,113		798
Residential mortgage-backed securities		980		1,023
Asset-backed securities		146		152
Total	$	29,187	$	30,223

The following table shows proceeds from sales, gross gains (losses) from sales and OTTI for AFS fixed maturities during the second quarter and first six months of 2013 and 2012:

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Proceeds from sales	$	912		$	28		$	1,172		$	28
Gross gains on sales	$	14		$	3		$	21		$	3
Gross losses on sales	$	(1	)	$	(9	)	$	(1	)	$	(9	)
Total OTTI	$	(50	)	$	(50	)	$	(64	)	$	(53	)
Non-credit losses recognized in OCI		15			1			15			1
Credit losses recognized in earnings (loss)	$	(35	)	$	(49	)	$	(49	)	$	(52	)

14

The following table sets forth the amount of credit loss impairments on fixed maturity securities held by the Company at the dates indicated and the corresponding changes in such amounts.

Fixed Maturities - Credit Loss Impairments

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Balances, beginning of period	$	(384	)	$	(334	)	$	(372	)	$	(332	)
Previously recognized impairments on securities that matured, paid, prepaid or sold		12			14			14			15
Recognized impairments on securities impaired to fair value this period(1)		—			—			—			—
Impairments recognized this period on securities not previously impaired		(35	)		(17	)		(49	)		(20	)
Additional impairments this period on securities previously impaired		—			(32	)		—			(32	)
Increases due to passage of time on previously recorded credit losses		—			—			—			—
Accretion of previously recognized impairments due to increases in expected cash flows		—			—			—			—
Balances at June 30,	$	(407	)	$	(369	)	$	(407	)	$	(369	)

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

Net unrealized investment gains (losses) on fixed maturities and equity securities classified as AFS are included in the consolidated balance sheets as a component of AOCI. The table below presents these amounts as of the dates indicated:

	June 30, 2013			December 31, 2012
	(In Millions)
AFS Securities:
Fixed maturities:
With OTTI loss	$	(35	)	$	(12	)
All other		1,104			2,899
Equity securities		—			1
Net Unrealized Gains (Losses)	$	1,069		$	2,888

15

Changes in net unrealized investment gains (losses) recognized in AOCI include reclassification adjustments to reflect amounts realized in Net earnings (loss) for the current period that had been part of OCI in earlier periods. The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized, and all other:

Net Unrealized Gains (Losses) on Fixed Maturities with OTTI Losses

	Net Unrealized Gains (Losses) on Investments			DAC		Policyholders’ Liabilities			Deferred Income Tax Asset (Liability)			AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
	(In Millions)
Balance, April 1, 2013	$	(8	)	$	1	$	4		$	1		$	(2	)
Net investment gains (losses) arising during the period		(12	)		—		—			—			(12	)
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		—			—		—			—			—
Excluded from Net earnings (loss)(1)		(15	)		—		—			—			(15	)
Impact of net unrealized investment gains (losses) on:
DAC		—			1		—			—			1
Deferred income taxes		—			—		—			7			7
Policyholders’ liabilities		—			—		5			—			5
Balance, June 30, 2013	$	(35	)	$	2	$	9		$	8		$	(16	)
Balance, April 1, 2012	$	(28	)	$	1	$	4		$	8		$	(15	)
Net investment gains (losses) arising during the period		(17	)		—		—			—			(17	)
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		32			—		—			—			32
Excluded from Net earnings (loss)(1)		(1	)		—		—			—			(1	)
Impact of net unrealized investment gains (losses) on:
DAC		—			—		—			—			—
Deferred income taxes		—			—		—			(5	)		(5	)
Policyholders’ liabilities		—			—		(1	)		—			(1	)
Balance, June 30, 2012	$	(14	)	$	1	$	3		$	3		$	(7	)

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

16

	Net Unrealized Gains (Losses) on Investments			DAC			Policyholders’ Liabilities			Deferred Income Tax Asset (Liability)			AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
	(In Millions)
Balance, January 1, 2013	$	(12	)	$	1		$	4		$	2		$	(5	)
Net investment gains (losses) arising during the period		(13	)		—			—			—			(13	)
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		5			—			—			—			5
Excluded from Net earnings (loss)(1)		(15	)		—			—			—			(15	)
Impact of net unrealized investment gains (losses) on:
DAC		—			1			—			—			1
Deferred income taxes		—			—			—			6			6
Policyholders’ liabilities		—			—			5			—			5
Balance, June 30, 2013	$	(35	)	$	2		$	9		$	8		$	(16	)
Balance, January 1, 2012	$	(47	)	$	5		$	6		$	12		$	(24	)
Net investment gains (losses) arising during the period		2			—			—			—			2
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		32			—			—			—			32
Excluded from Net earnings (loss)(1)		(1	)		—			—			—			(1	)
Impact of net unrealized investment gains (losses) on:
DAC		—			(4	)		—			—			(4	)
Deferred income taxes		—			—			—			(9	)		(9	)
Policyholders’ liabilities		—			—			(3	)		—			(3	)
Balance, June 30, 2012	$	(14	)	$	1		$	3		$	3		$	(7	)

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

17

All Other Net Unrealized Investment Gains (Losses) in AOCI

	Net Unrealized Gains (Losses) on Investments			DAC			Policyholders’ Liabilities			Deferred Income Tax Asset (Liability)			AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
	(In Millions)
Balance, April 1, 2013	$	2,603			$     (121	)	$	(593	)	$	(661	)	$	1,228
Net investment gains (losses) arising during the period		(1,535	)		—			—			—			(1,535	)
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		21			—			—			—			21
Excluded from Net earnings (loss)(1)		15			—			—			—			15
Impact of net unrealized investment gains (losses) on:
DAC		—			11			—			—			11
Deferred income taxes		—			—			—			429			429
Policyholders’ liabilities		—			—			257			—			257
Balance, June 30, 2013	$	1,104		$	(110	)	$	(336	)	$	(232	)	$	426
Balance, April 1, 2012	$	1,789		$	(111	)	$	(380	)	$	(455	)	$	843
Net investment gains (losses) arising during the period		644			—			—			—			644
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		22			—			—			—			22
Excluded from Net earnings (loss)(1)		1			—			—			—			1
Impact of net unrealized investment gains (losses) on:
DAC		—			(62	)		—			—			(62	)
Deferred income taxes		—			—			—			(204	)		(204	)
Policyholders’ liabilities		—			—			(22	)		—			(22	)
Balance, June 30, 2012	$	2,456		$	(173	)	$	(402	)	$	(659	)	$	1,222

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

18

	Net Unrealized Gains (Losses) on Investments			DAC			Policyholders’ Liabilities			Deferred Income Tax Asset (Liability)			AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
	(In Millions)
Balance, January 1, 2013	$	2,900			$     (179	)	$	(603	)	$	(741	)	$	1,377
Net investment gains (losses) arising during the period		(1,838	)		—			—			—			(1,838	)
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		27			—			—			—			27
Excluded from Net earnings (loss)(1)		15			—			—			—			15
Impact of net unrealized investment gains (losses) on:
DAC		—			69			—			—			69
Deferred income taxes		—			—			—			509			509
Policyholders’ liabilities		—			—			267			—			267
Balance, June 30, 2013	$	1,104		$	(110	)	$	(336	)	$	(232	)	$	426
Balance, January 1, 2012	$	1,831		$	(207	)	$	(385	)	$	(433	)	$	806
Net investment gains (losses) arising during the period		601			—			—			—			601
Reclassification adjustment for OTTI losses:
Included in Net earnings (loss)		23			—			—			—			23
Excluded from Net earnings (loss)(1)		1			—			—			—			1
Impact of net unrealized investment gains (losses) on:
DAC		—			34			—			—			34
Deferred income taxes		—			—			—			(226	)		(226	)
Policyholders’ liabilities		—			—			(17	)		—			(17	)
Balance, June 30, 2012	$	2,456		$	(173	)	$	(402	)	$	(659	)	$	1,222

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

19

The following tables disclose the fair values and gross unrealized losses of the 798 issues at June 30, 2013 and the 402 issues at December 31, 2012 of fixed maturities that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated:

	Less Than 12 Months					12 Months or Longer					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(In Millions)
June 30, 2013:
Fixed Maturities:
Corporate	$	3,313	$	(161	)	$	98	$	(10	)	$	3,411	$	(171	)
U.S. Treasury, government and agency		3,481		(266	)		—		—			3,481		(266	)
States and political subdivisions		20		(2	)		—		—			20		(2	)
Foreign governments		82		(4	)		2		—			84		(4	)
Commercial mortgage-backed		45		(17	)		507		(312	)		552		(329	)
Residential mortgage-backed		47		—			1		—			48		—
Asset-backed		14		—			29		(4	)		43		(4	)
Redeemable preferred stock		493		(14	)		86		(7	)		579		(21	)
Total	$	7,495	$	(464	)	$	723	$	(333	)	$	8,218	$	(797	)
December 31, 2012:
Fixed Maturities:
Corporate	$	562	$	(5	)	$	208	$	(15	)	$	770	$	(20	)
U.S. Treasury, government and agency		513		(1	)		—		—			513		(1	)
States and political subdivisions		20		—			—		—			20		—
Foreign governments		6		—			2		—			8		—
Commercial mortgage-backed		7		(3	)		805		(288	)		812		(291	)
Residential mortgage-backed		27		—			1		—			28		—
Asset-backed		8		—			36		(5	)		44		(5	)
Redeemable preferred stock		143		(1	)		327		(10	)		470		(11	)
Total	$	1,286	$	(10	)	$	1,379	$	(318	)	$	2,665	$	(328	)

The Company’s investments in fixed maturity securities do not include concentrations of credit risk of any single issuer greater than 10% of the consolidated equity of AXA Equitable, other than securities of the U.S. government, U.S. government agencies, and certain securities guaranteed by the U.S. government. The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 0.3% of total investments. The largest exposures to a single issuer of corporate securities held at June 30, 2013 and December 31, 2012 were $138 million and $138 million, respectively. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the NAIC designation of 3 (medium grade), 4 or 5 (below investment grade) or 6 (in or near default). At June 30, 2013 and December 31, 2012, respectively, approximately $1,979 million and $2,095 million, or 6.5% and 6.8%, of the $30,231 million and $30,720 million aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had net unrealized losses of $301 million and $224 million at June 30, 2013 and December 31, 2012, respectively.

20

The Company does not originate, purchase or warehouse residential mortgages and is not in the mortgage servicing business. The Company’s fixed maturity investment portfolio includes RMBS backed by subprime and Alt-A residential mortgages, comprised of loans made by banks or mortgage lenders to residential borrowers with lower credit ratings. The criteria used to categorize such subprime borrowers include FICO scores, interest rates charged, debt-to-income ratios and loan-to-value ratios. Alt-A residential mortgages are mortgage loans where the risk profile falls between prime and subprime; borrowers typically have clean credit histories but the mortgage loan has an increased risk profile due to higher loan-to-value and debt-to-income ratios and/or inadequate documentation of the borrowers’ income. At June 30, 2013 and December 31, 2012, respectively, the Company owned $14 million and $17 million in RMBS backed by subprime residential mortgage loans and $10 million and $11 million in RMBS backed by Alt-A residential mortgage loans. RMBS backed by subprime and Alt-A residential mortgages are fixed income investments supporting General Account liabilities.

At June 30, 2013, the carrying value of fixed maturities that were non-income producing for the twelve months preceding that date was $22 million.

For the second quarter and first six months of 2013 and 2012, investment income is shown net of investment expenses of $18 million, $32 million, $13 million and $26 million, respectively.

At June 30, 2013 and December 31, 2012, respectively, the amortized cost of the Company’s trading account securities was $3,239 million and $2,265 million with respective fair values of $3,219 million and $2,309 million. Also at June 30, 2013 and December 31, 2012, respectively, Other equity investments included the General Account’s investment in Separate Accounts which had carrying values of $117 million and $58 million and costs of $114 million and $57 million as well as other equity securities with carrying values of $24 million and $24 million and costs of $24 million and $23 million.

In the second quarter and first six months of 2013 and 2012, respectively, net unrealized and realized holding gains (losses) on trading account equity securities, including earnings (loss) on the General Account’s investment in Separate Accounts, of $(3) million, $18 million, $(16) million and $32 million, respectively, were included in Net investment income (loss) in the consolidated statements of earnings (loss).

Mortgage Loans

Mortgage loans on real estate are placed on nonaccrual status once management believes the collection of accrued interest is doubtful. Once mortgage loans on real estate are classified as nonaccrual loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan on real estate has been restructured to where the collection of interest is considered likely. At June 30, 2013 and December 31, 2012, the carrying values of commercial and agricultural mortgage loans on real estate that had been classified as nonaccrual loans were $0 million and $0 million for commercial and $0 million and $2 million for agricultural, respectively.

21

Troubled Debt Restructurings

In October 2011, one of the 2 loans shown in the table below was modified to interest only payments until October 1, 2013, at which time the loan reverts to its normal amortizing payment. In December 2012, the second loan was modified retroactive to the July 1, 2012 payment and was converted to interest only payments through maturity in August 2014. Due to the nature of the modifications, short-term principal amortization relief, the modifications have no financial impact. The fair market value of the underlying real estate collateral is the primary factor in determining the allowance for credit losses and as such, modifications of loan terms typically have no direct impact on the allowance for credit losses.

Troubled Debt Restructuring - Modifications

	Number of  Loans		Outstanding Recorded Investment
			Pre-Modification		Post - Modification
			(In Millions)
June 30, 2013
Troubled debt restructurings:
Agricultural mortgage loans		—	$	—	$	—
Commercial mortgage loans		2		126		126
Total		2	$	126	$	126

There were no default payments on the above loans during the second quarter and first six months of 2013.

Valuation Allowances for Mortgage Loans:

Allowance for credit losses for commercial mortgage loans for the first six months of 2013 and 2012 are as follows:

	2013			2012
Allowance for credit losses:	(In Millions)
Beginning balance, January 1,	$	34		$	32
Charge-offs		—			(20	)
Recoveries		(2	)		(1	)
Provision		4			23
Ending balance, June 30,	$	36		$	34
Ending balance, June 30,:
Individually Evaluated for Impairment	$	36		$	34
Collectively Evaluated for Impairment	$	—		$	—
Loans Acquired with Deteriorated Credit Quality	$	—		$	—

There were no allowances for credit losses for agricultural mortgage loans for the first six months of 2013 and 2012.

22

The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value. The following tables provide information relating to the debt service coverage ratio for commercial and agricultural mortgage loans at June 30, 2013 and December 31, 2012.

Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios

June 30, 2013

	Debt Service Coverage Ratio
Loan-to-Value Ratio:(2)	Greater than 2.0x		1.8x to     2.0x		1.5x to     1.8x		1.2x to     1.5x		1.0x to     1.2x		Less     than 1.0x		Total Mortgage Loans
	(In Millions)
Commercial Mortgage Loans(1)
0% - 50%	$	290	$	—	$	—	$	1	$	17	$	—	$	308
50% - 70%		517		176		590		415		89		—		1,787
70% - 90%		116		—		261		522		132		198		1,229
90% plus		126		—		—		—		107		48		281
Total Commercial Mortgage Loans	$	1,049	$	176	$	851	$	938	$	345	$	246	$	3,605
Agricultural Mortgage Loans(1)
0% - 50%	$	181	$	86	$	200	$	370	$	196	$	48	$	1,081
50% - 70%		116		33		185		184		147		48		713
70% - 90%		—		—		—		1		—		—		1
90% plus		—		—		—		—		—		—		—
Total Agricultural Mortgage Loans	$	297	$	119	$	385	$	555	$	343	$	96	$	1,795
Total Mortgage Loans(1)
0% - 50%	$	471	$	86	$	200	$	371	$	213	$	48	$	1,389
50% - 70%		633		209		775		599		236		48		2,500
70% - 90%		116		—		261		523		132		198		1,230
90% plus		126		—		—		—		107		48		281
Total Mortgage Loans	$	1,346	$	295	$	1,236	$	1,493	$	688	$	342	$	5,400

⁽¹⁾  The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service.

⁽²⁾  The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually.

23

Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios

December 31, 2012

	Debt Service Coverage Ratio
Loan-to-Value Ratio:(2)	Greater than 2.0x		1.8x to     2.0x		1.5x to     1.8x		1.2x to     1.5x		1.0x to     1.2x		Less     than 1.0x		Total Mortgage Loans
	(In Millions)
Commercial Mortgage Loans(1)
0% - 50%	$	269	$	21	$	—	$	—	$	27	$	—	$	317
50% - 70%		370		75		619		655		—		—		1,719
70% - 90%		61		102		235		445		131		15		989
90% plus		—		—		—		156		89		165		410
Total Commercial Mortgage Loans	$	700	$	198	$	854	$	1,256	$	247	$	180	$	3,435
Agricultural Mortgage Loans(1)
0% - 50%	$	179	$	84	$	211	$	308	$	177	$	49	$	1,008
50% - 70%		122		29		136		188		116		50		641
70% - 90%		—		—		—		1		—		8		9
90% plus		—		—		—		—		—		—		—
Total Agricultural Mortgage Loans	$	301	$	113	$	347	$	497	$	293	$	107	$	1,658
Total Mortgage Loans(1)
0% - 50%	$	448	$	105	$	211	$	308	$	204	$	49	$	1,325
50% - 70%		492		104		755		843		116		50		2,360
70% - 90%		61		102		235		446		131		23		998
90% plus		—		—		—		156		89		165		410
Total Mortgage Loans	$	1,001	$	311	$	1,201	$	1,753	$	540	$	287	$	5,093

⁽¹⁾  The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service.

⁽²⁾  The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually.

24

The following table provides information relating to the aging analysis of past due mortgage loans at June 30, 2013 and December 31, 2012, respectively.

Age Analysis of Past Due Mortgage Loans

	30-59     Days		60-89     Days		90     Days     or >		Total		Current		Total Financing Receivables		Recorded Investment > 90 Days and Accruing
							(In Millions)
June 30, 2013
Commercial	$	—	$	—	$	—	$	—	$	3,605	$	3,605	$	—
Agricultural		6		4		12		22		1,773		1,795		12
Total Mortgage Loans	$	6	$	4	$	12	$	22	$	5,378	$	5,400	$	12
December 31, 2012
Commercial	$	—	$	—	$	—	$	—	$	3,435	$	3,435	$	—
Agricultural		6		1		10		17		1,641		1,658		9
Total Mortgage Loans	$	6	$	1	$	10	$	17	$	5,076	$	5,093	$	9

The following table provides information regarding impaired mortgage loans at June 30, 2013 and December 31, 2012, respectively.

Impaired Mortgage Loans

	Recorded Investment		Unpaid Principal Balance		Related Allowance			Average Recorded Investment(1)		Interest Income Recognized
	(In Millions)
June 30, 2013:
With no related allowance recorded:
Commercial mortgage loans - other	$	—	$	—	$	—		$	—	$	—
Agricultural mortgage loans		—		—		—			1		—
Total	$	—	$	—	$	—		$	1	$	—
With related allowance recorded:
Commercial mortgage loans - other	$	126	$	126	$	(36	)	$	141	$	2
Agricultural mortgage loans		—		—		—			—		—
Total	$	126	$	126	$	(36	)	$	141	$	2
December 31, 2012:
With no related allowance recorded:
Commercial mortgage loans - other	$	—	$	—	$	—		$	—	$	—
Agricultural mortgage loans		2		2		—			3		—
Total	$	2	$	2	$	—		$	3	$	—
With related allowance recorded:
Commercial mortgage loans - other	$	170	$	170	$	(34	)	$	178	$	10
Agricultural mortgage loans		—		—		—			—		—
Total	$	170	$	170	$	(34	)	$	178	$	10

⁽¹⁾  Represents a five-quarter average of recorded amortized cost.

25

Derivatives and Offsetting Assets and Liabilities

The Company has issued and continues to offer certain variable annuity products with GMDB, GMIB, and GIB features. The Company had previously issued certain variable annuity products with GWBL, GMWB and GMAB features (collectively, “GWBL and other features”). The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GWBL and other features is that under-performance of the financial markets could result in GWBL and other features’ benefits being higher than what accumulated policyholders’ account balances would support. The Company uses derivatives for asset/liability risk management primarily to reduce exposures to equity market and interest rate fluctuations. Derivative hedging strategies are designed to reduce these risks from an economic perspective while also considering their impacts on accounting results. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, market volatility and interest rates.

A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in the equity and fixed income markets. For GMDB, GMIB, GIB and GWBL and other features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual versus expected assumptions for mortality, lapse and surrender, withdrawal and contractholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMDB, GMIB, GIB and GWBL and other features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps. The Company has purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company.

At the end of 2012, AXA Equitable adjusted its outlook for future interest rate scenarios for some variable annuities with hedged GMDB and GMIB guarantees, as measured under AXA Equitable’s hedging framework, leading to a reduction in their interest rate exposure. The reduced interest rate exposure led to AXA Equitable reducing the size of its interest rate hedges, as well as a change to their maturity profile. In addition, AXA Equitable began to fully unwind its swap and swaption positions hedging exposure to interest rate volatility. AXA Equitable completed the full unwind in first quarter 2013.

GIB and GWBL and other features and the reinsurance contract asset covering GMIB exposure are considered derivatives for accounting purposes and, therefore, are reported in the balance sheet at their fair value. None of the derivatives used in these programs were designated as qualifying hedges under U.S. GAAP accounting guidance for derivatives and hedging. All gains (losses) on derivatives are reported in Net investment income (loss) in the consolidated statements of earnings (loss) except those resulting from changes in the fair values of the GIB and GWBL and other features which are reported in Policyholder’s benefits and the GMIB reinsurance contract asset which is reported on a separate line in the consolidated statement of earnings.

The Company periodically, including during the first six months of 2013, has had in place a hedge program to partially protect against declining interest rates with respect to a part of its projected variable annuity sales.

The Company also uses equity and commodity index options to hedge its exposure to equity linked and commodity indexed crediting rates on certain annuity and life products.

Margins or “spreads” on interest-sensitive life insurance and annuity contracts are affected by interest rate fluctuations as the yield on portfolio investments, primarily fixed maturities, are intended to support required payments under these contracts, including interest rates credited to their policy and contract holders. The Company uses swaptions and swaps to reduce the risk associated with minimum crediting rate guarantees on these interest-sensitive contracts.

The Company’s investment in Separate Account equity funds exposes the Company to equity market risk which is hedged through equity future derivative contracts to minimize such risk.

26

Beginning in second quarter 2013, the Company implemented a strategy in its General Account investment portfolio to replicate the credit exposure from fixed maturity securities otherwise permissible under its investment guidelines through the sale of credit default swaps. Under the terms of these swaps, the Company receives quarterly fixed premiums that, together with any initial amount paid or received at trade inception, replicate the credit spread otherwise currently obtainable by purchasing the referenced entity’s fixed maturities of similar maturity. These credit derivatives have remaining terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in Net investment income (loss). The Company manages its credit exposure taking into consideration both cash and derivatives based positions and selects the reference entities in its replicated credit exposures in manner consistent with its selection of fixed maturities. In addition, the Company has transacted the sale of credit default swaps exclusively in single name reference entities of investment grade credit quality and with counterparties subject to collateral posting requirements. If there is an event of default by the referenced entity or other such credit event as defined under the terms of the swap contract, the Company is obligated to perform under the credit derivative and, at the counterparty’s option, either pay the referenced amount of the contract less an auction-determined recovery amount or pay the referenced amount of the contract and receive in return the defaulted or similar security of the referenced entity for recovery by sale at the contract settlement auction. To date, there have been no events of default or circumstances indicative of a deterioration in the credit quality of the named referenced entities to require or suggest that the Company will have to perform under these credit default swaps. The maximum potential amount of future payments the Company could be required to make under these credit derivatives is limited to the par value of the referenced securities which is the dollar-equivalent of the derivative notional amount. The Standard North American CDS Contract (“SNAC”) under which the Company executes these CDS sales transactions does not contain recourse provisions for recovery of amounts paid under the credit derivative.

The table below presents quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts though required to be accounted for as derivative instruments.

Derivative Instruments by Category

	At June 30, 2013						Gains (Losses) Reported In Net Earnings (Loss) Six Months Ended June 30, 2013
			Fair Value
	Notional Amount		Asset Derivatives		Liability Derivatives
	(In Millions)
Freestanding derivatives:
Equity contracts:(1)
Futures	$	5,578	$	2	$	—	$	(644	)
Swaps		1,366		30		47		(103	)
Options		4,826		657		372		124
Interest rate contracts:(1)
Floors		2,400		227		—		(17	)
Swaps		11,745		305		510		(681	)
Futures		9,197		—		—		(154	)
Swaptions		—		—		—		(169	)
Credit contracts:(1)
Credit default swaps		305		4		4		(3	)
Other freestanding contracts:(1)
Foreign currency contracts		109		—		—		1
Net investment income (loss)								(1,646	)
Embedded derivatives:
GMIB reinsurance contracts		—		8,707		—		(2,337	)
GIB and GWBL and other features(2)		—		—		130		135
Total, June 30, 2013	$	35,526	$	9,932	$	1,063	$	(3,848	)

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

⁽²⁾  Reported in Future policy benefits and other policyholders’ liabilities.

27

	At December 31, 2012						Gains (Losses) Reported In Net Earnings (Loss) Six Months Ended June 30, 2012
			Fair Value
	Notional Amount		Asset Derivatives		Liability Derivatives
	(In Millions)
Freestanding derivatives:
Equity contracts:(1)
Futures	$	6,189	$	—	$	2	$	(560	)
Swaps		965		2		56		(137	)
Options		3,492		443		219		11
Interest rate contracts:(1)
Floors		2,700		291		—		42
Swaps		18,239		554		353		354
Futures		14,033		—		—		147
Swaptions		7,608		502		—		100
Other freestanding contracts:(1)
Foreign currency contracts		81		1		—		1
Net investment income (loss)								(42	)
Embedded derivatives:
GMIB reinsurance contracts		—		11,044		—		834
GIB and GWBL and other features(2)		—		—		265		(43	)
Total	$	53,307	$	12,837	$	895	$	749

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

⁽²⁾  Reported in Future policy benefits and other policyholders’ liabilities.

At June 30, 2013, the Company had open exchange-traded futures positions on the S&P 500, Russell 1000, NASDAQ 100 and Emerging Market indices, having initial margin requirements of $226 million. At June 30, 2013, the Company had open exchange-traded futures positions on the 2-year, 5-year, 10-year, 30-year U.S. Treasury Notes and Eurodollars having initial margin requirements of $53 million. At that same date, the Company had open exchange-traded future positions on the Euro Stoxx, FTSE 100, European, Australia, Far East (“EAFE”) and Topix indices as well as corresponding currency futures on the Euro/U.S. dollar, Yen/U.S. dollar and Pound/U.S. dollar, having initial margin requirements of $7 million. All outstanding equity-based and treasury futures contracts at June 30, 2013 are exchange-traded and net settled daily in cash.

Although notional amount is the most commonly used measure of volume in the derivatives market, it is not used as a measure of credit risk. A derivative with positive fair value (a derivative asset) indicates existence of credit risk because the counterparty would owe money to the Company if the contract were closed at the reporting date. Alternatively, a derivative contract with negative fair value (a derivative liability) indicates the Company would owe money to the counterparty if the contract were closed. To reduce credit exposures, the Company generally enters into over-the-counter (“OTC”) derivative transactions pursuant to master agreements that provide for a netting of financial exposures with the counterparty and allow for collateral arrangements. The Company further controls and minimizes its counterparty exposure through a credit appraisal and approval process.

The standardized “ISDA Master Agreement” under which the Company conducts its OTC derivative transactions includes provisions for payment netting. In the normal course of business activities, if there is more than one derivative transaction with a single counterparty, the Company will set-off the cash flows of those derivatives into a single amount to be exchanged in settlement of the resulting net payable or receivable with that counterparty. In the event of default, insolvency, or other similar event pre-defined under the ISDA Master Agreement that would result in termination of OTC derivatives transactions before their maturity, netting procedures would be applied to calculate a single net payable or receivable with the counterparty.

28

Under the ISDA Master Agreement, the Company generally has executed a Credit Support Annex (“CSA”) with each of its OTC derivative counterparties that require both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities or those issued by government agencies. These CSAs are bilateral agreements that require collateral postings by the party “out-of-the-money” or in a net derivative liability position. Various thresholds for the amount and timing of collateralization of net liability positions are applicable. Consequently, the credit exposure of the Company’s OTC derivative contracts is limited to the net positive estimated fair value of those contracts at the reporting date after taking into consideration the existence of netting agreements and any collateral received pursuant to CSAs. Derivatives are recognized at fair value in the consolidated balance sheets and are reported either as assets in Other invested assets or as liabilities in Other liabilities, except for embedded insurance-related derivatives as earlier described above and derivatives transacted with a related counterparty. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed.

At June 30, 2013 and December 31, 2012, respectively, the Company held $380 million and $1,165 million in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. This unrestricted cash collateral is reported in Cash and cash equivalents, and the obligation to return it is reported in Other liabilities in the consolidated balance sheets. The aggregate fair value of all collateralized derivative transactions that were in a liability position at June 30, 2013 and December 31, 2012, respectively, were $205 million and $5 million, for which the Company posted collateral of $351 million and $5 million at June 30, 2013 and December 31, 2012, respectively, in the normal operation of its collateral arrangements. Certain of the Company’s ISDA Master Agreements contain contingent provisions that permit the counterparty to terminate the ISDA Master Agreement if the Company’s credit rating falls below a specified threshold, however, the occurrence of such credit event would not impose additional collateral requirements.

On June 10, 2013, new derivative regulations under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act went into effect, requiring financial entities, including U.S. life insurers, to clear newly executed OTC interest rate swaps on central clearing houses, and to post larger sums of higher quality collateral, among other provisions. Counterparties subject to these new regulations are required to post initial margin to the clearing house as well as variation margin to cover any daily negative mark-to-market movements in the value of newly executed OTC interest rate swap contracts. Centrally cleared OTC interest rate swap contracts, protected by initial margin requirements and higher quality collateral-eligible assets, are expected to reduce the risk of loss in the event of counterparty default. The Company has counterparty exposure to the clearing house and its clearing broker for futures and OTC derivative contracts. No significant impacts resulted in second quarter from the Company’s compliance with these new regulations as existing derivative positions are grandfathered. Similarly, the Company does not expect the new regulations to materially increase the amount or change the quality of collateral that otherwise would have been imposed directly with its counterparties under CSAs.

29

The following table presents information about the Insurance Segment’s offsetting of financial assets and liabilities and derivative instruments at June 30, 2013.

Offsetting of Financial Assets and Liabilities and Derivative Instruments

At June 30, 2013

	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheets		Net Amounts Presented in the Balance Sheets
	(In Millions)
ASSETS(1)
Description
Derivatives:
Equity contracts	$	682	$	418	$	264
Interest rate contracts		456		510		(54	)
Credit contracts		3		3		—
Total Derivatives, subject to an ISDA Master Agreement		1,141		931		210
Total Derivatives, not subject to an ISDA Master Agreement		75		—		75
Total Derivatives		1,216		931		285
Other financial instruments		1,049		—		1,049
Other invested assets	$	2,265	$	931	$	1,334
LIABILITIES(2)
Description
Derivatives:
Equity contracts	$	418	$	418	$	—
Interest rate contracts		510		510		—
Credit contracts		3		3		—
Total Derivatives, subject to an ISDA Master Agreement		931		931		—
Total Derivatives, not subject to an ISDA Master Agreement		—		—		—
Total Derivatives		931		931		—
Other financial liabilities		2,790		—		2,790
Other liabilities	$	3,721	$	931	$	2,790

⁽¹⁾  Excludes Investment Management segment’s $9 million net derivative assets and $109 million of securities borrowed.

⁽²⁾  Excludes Investment Management segment’s $2 million net derivative liability and $45 million of securities loaned.

30

The following table presents information about the Insurance segment’s gross collateral amounts that are not offset in the consolidated balance sheets at June 30, 2013.

Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets

At June 30, 2013

	Net Amounts Presented in the Balance Sheets			Collateral (Received)/Held
				Financial Instruments		Cash			Net Amounts
	(In Millions)
Counterparty A	$	38		$	—	$	(17	)	$	21
Counterparty B		6			—		(1	)		5
Counterparty C		(51	)		—		51			—
Counterparty D		212			—		(204	)		8
Counterparty E		(14	)		—		14			—
Counterparty F		(35	)		—		35			—
Counterparty G		73			—		(73	)		—
Counterparty H		(24	)		—		24			—
Counterparty I		(50	)		—		50			—
Counterparty J		(30	)		—		30			—
Counterparty K		15			—		(14	)		1
Counterparty L		41			—		(35	)		6
Counterparty M		29			—		(29	)		—
Counterparty N		75			—		—			75
Total Derivatives	$	285		$	—	$	(169	)	$	116
Other financial instruments		1,049			—		—			1,049
Other invested assets	$	1,334		$	—	$	(169	)	$	1,165

31

The following table presents information about the Insurance segment’s offsetting of financial assets and liabilities and derivative instruments at December 31, 2012.

Offsetting of Financial Assets and Liabilities and Derivative Instruments

At December 31, 2012

	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheets		Net Amounts Presented in the Balance Sheets
	(In Millions)
ASSETS(1)
Description
Derivatives:
Equity contracts	$	444	$	272	$	172
Interest rate contracts		1,251		351		900
Total Derivatives, subject to an ISDA Master Agreement		1,695		623		1,072
Total Derivatives, not subject to an ISDA Master Agreement		96		—		96
Total Derivatives		1,791		623		1,168
Other financial instruments		660		—		660
Other invested assets	$	2,451	$	623	$	1,828
LIABILITIES(2)
Description
Derivatives:
Equity contracts	$	272	$	272	$	—
Interest rate contracts		351		351		—
Total Derivatives, subject to an ISDA Master Agreement		623		623		—
Total Derivatives, not subject to an ISDA Master Agreement		—		—		—
Total Derivatives		623		623		—
Other financial liabilities		3,503		—		3,503
Other liabilities	$	4,126	$	623	$	3,503

⁽¹⁾  Excludes Investment Management segment’s $2 million net derivative assets and $106 million of securities borrowed.

⁽²⁾  Excludes Investment Management segment’s $7 million net derivative liability and $13 million of securities loaned.

32

The following table presents information about the Insurance segment’s gross collateral amounts that are not offset in the consolidated balance sheets at December 31, 2012.

Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets

At December 31, 2012

	Net Amounts Presented in the Balance Sheets			Collateral (Received)/Held
				Financial Instruments			Cash			Net Amounts
	(In Millions)
Counterparty A	$	30		$	—		$	(30	)	$	—
Counterparty B		32			—			(29	)		3
Counterparty C		55			—			(55	)		—
Counterparty D		310			—			(310	)		—
Counterparty E		38			—			(38	)		—
Counterparty F		326			—			(326	)		—
Counterparty G		55			—			(55	)		—
Counterparty H		(5	)		—			5			—
Counterparty I		98			—			(98	)		—
Counterparty J		19			—			(19	)		—
Counterparty K		15			—			(3	)		12
Counterparty L		48			(46	)		—			2
Counterparty M		51			—			(51	)		—
Counterparty N		96			—			—			96
Total Derivatives	$	1,168		$	(46	)	$	(1,009	)	$	113
Other financial instruments		660			—			—			660
Other invested assets	$	1,828		$	(46	)	$	(1,009	)	$	773

4) CLOSED BLOCK

The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in AOCI) represents the expected maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. As of January 1, 2001, AXA Equitable has developed an actuarial calculation of the expected timing of AXA Equitable’s Closed Block’s earnings.

If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block.

33

Many expenses related to Closed Block operations, including amortization of DAC, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block.

Summarized financial information for the Closed Block follows:

	June 30, 2013		December 31, 2012
	(In Millions)
CLOSED BLOCK LIABILITIES:
Future policy benefits, policyholders’ account balances and other	$	7,806	$	7,942
Policyholder dividend obligation		166		373
Other liabilities		93		192
Total Closed Block liabilities		8,065		8,507
ASSETS DESIGNATED TO THE CLOSED BLOCK:
Fixed maturities, available for sale, at fair value (amortized cost of $5,050 and $5,245)		5,336		5,741
Mortgage loans on real estate		1,251		1,255
Policy loans		969		1,026
Cash and other invested assets		78		30
Other assets		192		204
Total assets designated to the Closed Block		7,826		8,256
Excess of Closed Block liabilities over assets designated to the Closed Block		239		251
Amounts included in accumulated other comprehensive income (loss):
Net unrealized investment gains (losses), net of deferred income tax (expense) benefit of $(45) and $(47) and policyholder dividend obligation of $(166) and $(373)		84		87
Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities	$	323	$	338

34

Closed Block revenues and expenses were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
REVENUES:
Premiums and other income	$	73		$	79		$	148		$	160
Net investment income (loss)		100			105			209			212
Net investment gains (losses)		(5	)		(6	)		(8	)		(10	)
Total revenues		168			178			349			362
BENEFITS AND OTHER DEDUCTIONS:
Policyholders’ benefits and dividends		173			198			325			385
Other operating costs and expenses		—			—			1			—
Total benefits and other deductions		173			198			326			385
Net revenues before income taxes		(5	)		(20	)		23			(23	)
Income tax (expense) benefit		2			7			(8	)		8
Net Revenues (Losses)	$	(3	)	$	(13	)	$	15		$	(15	)

Reconciliation of the policyholder dividend obligation follows:

	Six Months Ended June 30,
	2013			2012
	(In Millions)
Balances, beginning of year	$	373		$	260
Unrealized investment gains (losses)		(207	)		45
Balances, End of Period	$	166		$	305

35

5) GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES

A) Variable Annuity Contracts – GMDB, GMIB, GIB and GWBL and Other Features

The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following:

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

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

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

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

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

The following table summarizes the GMDB and GMIB liabilities, before reinsurance ceded, reflected in the General Account in future policy benefits and other policyholders’ liabilities:

	GMDB			GMIB			Total
	(In Millions)
Balance at January 1, 2013	$	1,772		$	4,561		$	6,333
Paid guarantee benefits		(132	)		(26	)		(158	)
Other changes in reserve		142			—			142
Balance at June 30, 2013	$	1,782		$	4,535		$	6,317
Balance at January 1, 2012	$	1,593		$	4,130		$	5,723
Paid guarantee benefits		(128	)		(38	)		(166	)
Other changes in reserve		174			275			449
Balance at June 30, 2012	$	1,639		$	4,367		$	6,006

Related GMDB reinsurance ceded amounts were:

	Six Months Ended June 30,
	2013			2012
	(In Millions)
Balance, beginning of year	$	844		$	716
Paid guarantee benefits		(59	)		(53	)
Other changes in reserve		85			105
Balance, End of Period	$	870		$	768

The GMIB reinsurance contracts are considered derivatives and are reported at fair value.

36

The June 30, 2013 values for variable annuity contracts in-force on such date with GMDB and GMIB features are presented in the following table. For contracts with the GMDB feature, the net amount at risk in the event of death is the amount by which the GMDB benefits exceed related account values. For contracts with the GMIB feature, the net amount at risk in the event of annuitization is the amount by which the present value of the GMIB benefits exceeds related account values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB guarantees may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive:

	Return of Premium			Ratchet			Roll-Up			Combo			Total
	(Dollars In Millions)
GMDB:
Account values invested in:
General Account	$	13,008		$	232		$	96		$	439		$	13,775
Separate Accounts	$	32,837		$	7,811		$	3,838		$	36,114		$	80,600
Net amount at risk, gross	$	481		$	474		$	2,522		$	13,201		$	16,678
Net amount at risk, net of amounts reinsured	$	481		$	289		$	1,696		$	5,168		$	7,634
Average attained age of contractholders		50.7			64.2			69.8			64.9			54.6
Percentage of contractholders over age 70		8.3	%		31.0	%		51.5	%		32.1	%		15.3	%
Range of contractually specified interest rates		N/A			N/A			3%-6	%		3%-6.5	%		3%-6.5	%
GMIB:
Account values invested in:
General Account		N/A			N/A		$	37		$	480		$	517
Separate Accounts		N/A			N/A		$	2,669		$	47,928		$	50,597
Net amount at risk, gross		N/A			N/A		$	1,277		$	3,901		$	5,178
Net amount at risk, net of amounts reinsured		N/A			N/A		$	383		$	947		$	1,330
Weighted average years remaining until annuitization		N/A			N/A			0.4			4.0			3.8
Range of contractually specified interest rates		N/A			N/A			3%-6	%		3%-6.5	%		3%-6.5	%

In second quarter 2013, the approach for determining the above noted GMIB net amount at risk has been updated to be more reflective of the economic exposure to the Company. Previously, the calculation used a current annuitization factor based on the retail pricing basis for single-premium individual annuities, including premium loads and interest margins. The updated approach excludes premium loads and interest margins, reducing the June 30, 2013 reported net amount at risk, gross of reinsurance by $3,646 million and the net amount at risk, net of amounts reinsured by $1,015 million.

The liability for GIB and GWBL and other features, not included above, was $130 million and $265 million at June 30, 2013 and December 31, 2012, respectively, which are accounted for as embedded derivatives. This liability reflects the present value of expected future payments (benefits) less the fees attributable to these features over a range of market consistent economic scenarios.

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B) Separate Account Investments by Investment Category Underlying GMDB and GMIB Features

The total account values of variable annuity contracts with GMDB and GMIB features include amounts allocated to the guaranteed interest option, which is part of the General Account and variable investment options that invest through Separate Accounts in variable insurance trusts. The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB benefits and guarantees. The investment performance of the assets impacts the related account values and, consequently, the net amount of risk associated with the GMDB and GMIB benefits and guarantees. Since variable annuity contracts with GMDB benefits and guarantees may also offer GMIB benefits and guarantees in each contract, the GMDB and GMIB amounts listed are not mutually exclusive:

Investment in Variable Insurance Trust Mutual Funds

	June  30, 2013		December 31, 2012
	(In Millions)
GMDB:
Equity	$	57,647	$	52,633
Fixed income		3,376		3,748
Balanced		19,063		19,102
Other		514		543
Total	$	80,600	$	76,026
GMIB:
Equity	$	35,677	$	33,361
Fixed income		2,052		2,335
Balanced		12,624		12,906
Other		244		264
Total	$	50,597	$	48,866

C) Hedging Programs for GMDB and GMIB Features

Beginning in 2003, AXA Equitable established a program intended to hedge certain risks associated first with the GMDB feature and, beginning in 2004, with the GMIB feature of the Accumulator^® series of variable annuity products. The program has also been extended to cover other guaranteed benefits as they have been made available. This program utilizes derivative contracts, such as exchange-traded equity, currency, and interest rate futures contracts, total return and/or equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in the equity and fixed income markets. At the present time, this program hedges certain economic risks on products sold, to the extent such risks are not reinsured. At June 30, 2013, the total account value and net amount at risk of the hedged variable annuity contracts were $39,047 million and $6,174 million, respectively, with the GMDB feature and $22,495 million and $947 million, respectively, with the GMIB feature.

These programs do not qualify for hedge accounting treatment. Therefore, gains (losses) on the derivatives contracts used in these programs, including current period changes in fair value, are recognized in net investment income (loss) in the period in which they occur, and may contribute to earnings (loss) volatility.

D) Variable and Interest-Sensitive Life Insurance Policies - No Lapse Guarantee

The no lapse guarantee feature contained in variable and interest-sensitive life insurance policies keeps them in force in situations where the policy value is not sufficient to cover monthly charges then due. The no lapse guarantee remains in effect so long as the policy meets a contractually specified premium funding test and certain other requirements.

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The following table summarizes the no lapse guarantee liabilities reflected in the General Account in Future policy benefits and other policyholders’ liabilities and the related reinsurance ceded:

	Direct Liability		Reinsurance Ceded			Net
	(In Millions)
Balance at January 1, 2013	$	556	$	(310	)	$	246
Other changes in reserves		83		(48	)		35
Balance at June 30, 2013	$	639	$	(358	)	$	281
Balance at January 1, 2012	$	470	$	(262	)	$	208
Other changes in reserves		50		(23	)		27
Balance at June 30, 2012	$	520	$	(285	)	$	235

6) FAIR VALUE DISCLOSURES

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting guidance established a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value:

Level 1	Unadjusted 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.

The Company defines fair value as the unadjusted quoted market prices for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument.

Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-

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specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness.

Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair value measurements also are required on a non-recurring basis for certain assets, including goodwill, mortgage loans on real estate, equity real estate held for production of income, and equity real estate held for sale, only when an OTTI or other event occurs. When such fair value measurements are recorded, they must be classified and disclosed within the fair value hierarchy. At June 30, 2013 and December 31, 2012, no assets were required to be measured at fair value on a non-recurring basis.

Fair Value Measurements at June 30, 2013

	Level 1		Level 2			Level 3		Total
	(In Millions)
Assets:
Investments:
Fixed maturities, available-for-sale:
Corporate	$	6	$	21,801		$	219	$	22,026
U.S. Treasury, government and agency		—		5,273			—		5,273
States and political subdivisions		—		444			49		493
Foreign governments		—		441			17		458
Commercial mortgage-backed		—		18			780		798
Residential mortgage-backed(1)		—		1,017			6		1,023
Asset-backed(2)		—		51			101		152
Redeemable preferred stock		256		806			15		1,077
Subtotal		262		29,851			1,187		31,300
Other equity investments		153		—			61		214
Trading securities		412		2,807			—		3,219
Other invested assets:
Short-term investments		—		122			—		122
Swaps		—		(222	)		—		(222	)
Futures		2		—			—		2
Options		—		285			—		285
Floors		—		227			—		227
Swaptions		—		—			—		—
Subtotal		2		412			—		414
Cash equivalents		792		—			—		792
Segregated securities		—		835			—		835
GMIB reinsurance contracts		—		—			8,707		8,707
Separate Accounts’ assets		96,716		2,734			216		99,666
Total Assets	$	98,337	$	36,639		$	10,171	$	145,147
Liabilities
GWBL and other features’ liability	$	—	$	—		$	130	$	130
Total Liabilities	$	—	$	—		$	130	$	130

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

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

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Fair Value Measurements at December 31, 2012

	Level 1			Level 2		Level 3		Total
	(In Millions)
Assets:
Investments:
Fixed maturities, available-for-sale:
Corporate	$	6		$	22,837	$	355	$	23,198
U.S. Treasury, government and agency		—			5,180		—		5,180
States and political subdivisions		—			480		50		530
Foreign governments		—			511		19		530
Commercial mortgage-backed		—			—		900		900
Residential mortgage-backed(1)		—			1,940		9		1,949
Asset-backed(2)		—			69		113		182
Redeemable preferred stock		242			881		15		1,138
Subtotal		248			31,898		1,461		33,607
Other equity investments		78			—		77		155
Trading securities		446			1,863		—		2,309
Other invested assets:
Short-term investments		—			98		—		98
Swaps		—			148		—		148
Futures		(2	)		—		—		(2	)
Options		—			224		—		224
Floors		—			291		—		291
Swaptions		—			502		—		502
Subtotal		(2	)		1,263		—		1,261
Cash equivalents		2,289			—		—		2,289
Segregated securities		—			1,551		—		1,551
GMIB reinsurance contracts		—			—		11,044		11,044
Separate Accounts’ assets		90,751			2,775		224		93,750
Total Assets	$	93,810		$	39,350	$	12,806	$	145,966
Liabilities:
GWBL and other features’ liability	$	—		$	—	$	265	$	265
Total Liabilities	$	—		$	—	$	265	$	265

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

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

At June 30, 2013 and December 31, 2012, respectively, the fair value of public fixed maturities is approximately $23,439 million and $25,591 million or approximately 17.3% and 19.2% of the Company’s total assets measured at fair value on a recurring basis (excluding GMIB reinsurance contracts and segregated securities measured at fair value on a recurring basis). The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturity securities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. If the pricing information received from independent valuation service providers is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process in accordance with the terms of the respective independent valuation service provider agreement. If as a result it is determined that the independent valuation service provider is able to reprice the security in a manner agreed as more consistent with current market observations, the security remains within Level 2. Alternatively, a Level 3 classification may result if the pricing information then is sourced from another vendor, non-binding broker quotes, or internally-developed valuations for which the Company’s own assumptions about market-participant inputs would be used in pricing the security.

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At June 30, 2013 and December 31, 2012, respectively, the fair value of private fixed maturities is approximately $7,861 million and $8,016 million or approximately 5.8% and 6.0% of the Company’s total assets measured at fair value on a recurring basis. The fair values of the Company’s private fixed maturities, which primarily are comprised of investments in private placement securities generally are determined using a discounted cash flow model. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made.

As disclosed in Note 3, at June 30, 2013 and December 31, 2012, respectively, the net fair value of freestanding derivative positions is approximately $292 million and $1,163 million or approximately 70.5% and 92.2% of Other invested assets measured at fair value on a recurring basis. The fair values of the Company’s derivative positions are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. If the pricing information received from independent valuation service providers is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process in accordance with the terms of the respective independent valuation service provider agreement. If as a result it is determined that the independent valuation service provider is able to reprice the derivative instrument in a manner agreed as more consistent with current market observations, the position remains within Level 2.

The credit risk of the counterparty and of the Company are considered in determining the fair values of all OTC derivative asset and liability positions, respectively, after taking into account the effects of master netting agreements and collateral arrangements. Each reporting period, the Company values its derivative positions using the standard swap curve and evaluates whether to adjust the embedded credit spread to reflect changes in counterparty or its own credit standing. As a result, the Company reduced the fair value of its OTC derivative asset exposures by $1 million at June 30, 2013 to recognize incremental counterparty non-performance risk. The unadjusted swap curve was determined to be reflective of the non-performance risk of the Company for purpose of determining the fair value of its OTC liability positions at June 30, 2013.

At June 30, 2013 and December 31, 2012, respectively, investments classified as Level 1 comprise approximately 72.5% and 70.3% of assets measured at fair value on a recurring basis and primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less, and are carried at cost as a proxy for fair value measurement due to their short-term nature.

At June 30, 2013 and December 31, 2012, respectively, investments classified as Level 2 comprise approximately 26.4% and 28.4% of assets measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Segregated securities classified as Level 2 are U.S. Treasury Bills segregated by AllianceBernstein in a special reserve bank custody account for the exclusive benefit of brokerage customers, as required by Rule 15c3-3 of the Exchange Act and for which fair values are based on quoted yields in secondary markets.

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Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. At June 30, 2013 and December 31, 2012, respectively, approximately $1,043 million and $1,966 million of AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors.

At June 30, 2013 and December 31, 2012, respectively, investments classified as Level 3 comprise approximately 1.1% and 1.3% of assets measured at fair value on a recurring basis and primarily include corporate debt securities, such as private fixed maturities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification at June 30, 2013 and December 31, 2012, respectively, were approximately $213 million and $222 million of fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company applies various due-diligence procedures, as considered appropriate, to validate these non-binding broker quotes for reasonableness, based on its understanding of the markets, including use of internally-developed assumptions about inputs a market participant would use to price the security. In addition, approximately $878 million and $1,021 million of mortgage- and asset-backed securities, including CMBS, are classified as Level 3 at June 30, 2013 and December 31, 2012, respectively. At June 30, 2013, the Company changed its methodology for measuring the fair value of CMBS securities below the senior AAA tranche from a risk-adjusted present value technique to pricing obtained from an independent valuation service vendor as returning liquidity in CMBS markets contributed to the availability of more reliable and representative measures of fair value. The impact for implementation of this change was approximately a $147 million (pre-DAC and pre-tax) reduction in the fair value of the CMBS portfolio at June 30, 2013, recognized as an unrealized loss through OCI. In applying the risk-adjusted present value technique in periods prior to June 30, 2013, the Company adjusted the projected cash flows of these securities for origination year, default metrics, and level of subordination, with the objective of maximizing observable inputs, and weighted the result with a 10% attribution to pricing sourced from a third party service whose process placed significant reliance on market trading activity.

The Company also issues certain benefits on its variable annuity products that are accounted for as derivatives and are also considered Level 3. The GMWB feature allows the policyholder to withdraw at minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base.

Level 3 also includes the GMIB reinsurance contract asset which is accounted for as derivative contracts. The GMIB reinsurance contract asset’s fair value reflects the present value of reinsurance premiums and recoveries and risk margins over a range of market consistent economic scenarios while the GIB and GWBL and other features related liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins, attributable to the GIB and GWBL and other features over a range of market-consistent economic scenarios. The valuations of both the GMIB reinsurance contract asset and GIB and GWBL and other features’ liability incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Account funds consistent with the S&P 500 Index. The credit risks of the counterparty and of the Company are considered in determining the fair values of its GMIB reinsurance contract asset and GIB and GWBL and other features’ liability positions, respectively, after taking into account the effects of collateral arrangements. Incremental adjustment to the swap curve, adjusted for non-performance risk, is made to the resulting fair values of the GMIB reinsurance contract asset to reflect change in the claims-paying ratings of counterparties to the reinsurance treaties. After giving consideration to collateral arrangements, the Company reduced the fair value of its GMIB reinsurance contract asset by $341 million and $447 million at June 30, 2013 and December 31, 2012, respectively, to recognize incremental counterparty non-performance risk. The unadjusted swap curve was determined to be reflective of the AA quality claims-paying rating of AXA Equitable, therefore, no incremental adjustment was made for non-performance risk for purpose of determining the fair value of the GIB and GWBL and other features’ liability embedded derivative at June 30, 2013. Equity and fixed income volatilities are combined, with weighting based on the current fund distribution, to produce an overall volatility assumption. Scenarios are developed that value an at the money option at a price consistent with the overall volatility.

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In the first six months of 2013, AFS fixed maturities with fair values of $23 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $5 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 0.2% of total equity at June 30, 2013. In the second quarter of 2013, one of the Company’s private securities went public and as a result, $19 million was transferred from a Level 3 classification to a Level 2 classification.

In the first six months of 2012, AFS fixed maturities with fair values of $99 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $7 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 0.7% of total equity at June 30, 2012.

The table below presents a reconciliation for all Level 3 assets and liabilities for the second quarter and first six months of 2013 and 2012, respectively:

Level 3 Instruments

Fair Value Measurements

	Corporate			State  and Political Sub- divisions			Foreign Govts			Commercial Mortgage- backed			Residential Mortgage- backed			Asset- backed
	(In Millions)
Balance, April 1, 2013	$	327		$	50		$	20		$	929		$	7		$	108
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		1			—			—			(1	)		—			—
Investment gains (losses), net		2			—			—			(37	)		—			—
Subtotal		3			—			—			(38	)		—			—
Other comprehensive income (loss)		(3	)		(1	)		—			(92	)		—			(1	)
Purchases		—			—			(2	)		—			—			—
Issues		—			—			—			—			—			—
Sales		(113	)		—			—			(2	)		(1	)		(6	)
Settlements		—			—			—			—			—			—
Transfers into Level 3(1)		5			—			—			—			—			—
Transfers out of Level 3(1)		—			—			(1	)		(17	)		—			—
Balance, June 30, 2013	$	219		$	49		$	17		$	780		$	6		$	101
Balance, April 1, 2012	$	394		$	52		$	20		$	933		$	12		$	165
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		—			—			—			—			—			—
Investment gains (losses), net		—			—			—			(51	)		—			—
Subtotal		—			—			—			(51	)		—			—
Other comprehensive income (loss)		(2	)		—			—			41			—			(1	)
Purchases		25			—			—			—			—			—
Issues		—			—			—			—			—			—
Sales		(21	)		—			—			(17	)		(1	)		(7	)
Settlements		—			—			—			—			—			—
Transfers into Level 3(1)		5			—			—			—			—			—
Transfers out of Level 3(1)		(18	)		—			(20	)		—			—			(18	)
Balance, June 30, 2012	$	383		$	52		$	—		$	906		$	11		$	139

⁽¹⁾  Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values.

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	Corporate			State and Political Sub- divisions			Foreign Govts			Commercial Mortgage- backed			Residential Mortgage- backed			Asset- backed
	(In Millions)
Balance, January 1, 2013	$	355		$	50		$	19		$	900		$	9		$	113
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		1			—			—			(1	)		—			—
Investment gains (losses), net		3			—			—			(57	)		—			—
Subtotal		4			—			—			(58	)		—			—
Other comprehensive income (loss)		2			—			(2	)		(42	)		—			—
Purchases		—			—			—			—			—			—
Issues		—			—			—			—			—			—
Sales		(142	)		(1	)		—			(2	)		(3	)		(12	)
Settlements		—			—			—			—			—			—
Transfers into Level 3(1)		5			—			—			—			—			—
Transfers out of Level 3(1)		(5	)		—			—			(18	)		—			—
Balance, June 30, 2013	$	219		$	49		$	17		$	780		$	6		$	101
Balance, January 1, 2012	$	432		$	53		$	22		$	902		$	14		$	172
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		—			—			—			1			—			—
Investment gains (losses), net		—			—			—			(54	)		—			—
Subtotal		—			—			—			(53	)		—			—
Other comprehensive income (loss)		1			—			—			78			—			—
Purchases		25			—			—			—			—			—
Issues		—			—			—			—			—			—
Sales		(25	)		(1	)		—			(21	)		(3	)		(13	)
Settlements		—			—			—			—			—			—
Transfers into Level 3(1)		7			—			—			—			—			—
Transfers out of Level 3(1)		(57	)		—			(22	)		—			—			(20	)
Balance, June 30, 2012	$	383		$	52		$	—		$	906		$	11		$	139

⁽¹⁾  Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values.

45

	Redeemable Preferred Stock		Other Equity Investments(1)			Other Invested Assets			GMIB Reinsurance Asset			Separate Accounts Assets			GWBL and  Other Features Liability
	(In Millions)
Balance, April 1, 2013	$	15	$	75		$	—		$	9,856		$	221		$	173
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		—		—			—			—			—			—
Investment gains (losses), net		—		—			—			—			—			—
Increase (decrease) in the fair value of the reinsurance contract asset		—		—			—			(1,203	)		—			—
Policyholders’ benefits		—		—			—			—			—			(63	)
Subtotal		—		—			—			(1,203	)		—			(63	)
Other comprehensive income (loss)		—		(14	)		—			—			—			—
Purchases		—		—			—			61			—			20
Issues		—		—			—			—			—			—
Sales		—		—			—			(7	)		(5	)		—
Settlements		—		—			—			—			—			—
Transfers into Level 3(2)		—		—			—			—			—			—
Transfers out of Level 3(2)		—		—			—			—			—			—
Balance, June 30, 2013	$	15	$	61		$	—		$	8,707		$	216		$	130
Balance, April 1, 2012	$	14	$	59		$	(59	)	$	8,704		$	221		$	193
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		—		—			—			—			1			—
Investment gains (losses), net		—		—			—			—			—			—
Increase (decrease) in the fair value of the reinsurance contract asset		—		—			—			2,631			—			—
Policyholders’ benefits		—		—			—			—			—			129
Subtotal		—		—			—			2,631			1			129
Other comprehensive income (loss)		1		(1	)		—			—			—			—
Purchases		—		—			—			60			6			12
Issues		—		—			—			—			—			—
Sales		—		—			—			(14	)		(4	)		—
Settlements		—		—			—			—			(1	)		—
Transfers into Level 3(2)		—		—			—			—			—			—
Transfers out of Level 3(2)		—		—			59			—			(1	)		—
Balance, June 30, 2012	$	15	$	58		$	—		$	11,381		$	222		$	334

⁽¹⁾  Includes Trading securities’ Level 3 amount.

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

46

	Redeemable Preferred Stock		Other Equity Investments(1)			Other Invested Assets			GMIB Reinsurance Asset			Separate Accounts Assets			GWBL and  Other Features Liability
	(In Millions)
Balance, January 1, 2013	$	15	$	77		$	—		$	11,044		$	224		$	265
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		—		—			—			—			(5	)		—
Investment gains (losses), net		—		—			—			—			—			—
Increase (decrease) in the fair value of the reinsurance contracts		—		—			—			(2,437	)		—			—
Policyholders’ benefits		—		—			—			—			—			(171	)
Subtotal		—		—			—			(2,437	)		(5	)		(171	)
Other comprehensive income (loss)		—		(16	)		—			—			—			—
Purchases		—		—			—			121			—			36
Issues		—		—			—			—			—			—
Sales		—		—			—			(21	)		(2	)		—
Settlements		—		—			—			—			(1	)		—
Transfers into Level 3(2)		—		—			—			—			—			—
Transfers out of Level 3(2)		—		—			—			—			—			—
Balance, June 30, 2013	$	15	$	61		$	—		$	8,707		$	216		$	130
Balance, January 1, 2012	$	14	$	77		$	(2	)	$	10,547		$	215		$	291
Total gains (losses), realized and unrealized, included in:
Earnings (loss) as:
Net investment income (loss)		—		—			—			—			4			—
Investment gains (losses), net		—		—			—			—			—			—
Increase (decrease) in the fair value of the reinsurance contracts		—		—			—			743			—			—
Policyholders’ benefits		—		—			—			—			—			25
Subtotal		—		—			—			743			4			25
Other comprehensive income (loss)		1		(19	)		—			—			—			—
Purchases		—		—			—			121			7			18
Issues		—		—			—			—			—			—
Sales		—		—			—			(30	)		(2	)		—
Settlements		—		—			—			—			(2	)		—
Transfers into Level 3(2)		—		—			—			—			—			—
Transfers out of Level 3(2)		—		—			2			—			—			—
Balance, June 30, 2012	$	15	$	58		$	—		$	11,381		$	222		$	334

⁽¹⁾  Includes Trading securities’ Level 3 amount.

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

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The table below details changes in unrealized gains (losses) for the second quarter and first six months of 2013 and 2012 by category for Level 3 assets and liabilities still held at June 30, 2013 and 2012, respectively:

	Earnings (Loss)
	Net Investment Income (Loss)		Investment Gains (Losses), Net			Increase (Decrease) in the Fair Value of the Reinsurance Contract Asset			OCI			Policy- holders’      Benefits
	(In Millions)
Level 3 Instruments
Second Quarter 2013
Held at June 30, 2013:(1)
Change in unrealized gains (losses):
Fixed maturities, available-for-sale:
Corporate	$	—	$	—		$	—		$	(4	)	$	—
State and political subdivisions		—		—			—			(1	)		—
Foreign governments		—		—			—			(2	)		—
Commercial mortgage-backed		—		—			—			(90	)		—
Asset-backed		—		—			—			(1	)		—
Other fixed maturities, available-for-sale		—		—			—			—			—
Subtotal	$	—	$	—		$	—		$	(98	)	$	—
Other equity investments		—		—			—			—			—
GMIB reinsurance contracts		—		—			(1,149	)		—			—
Separate Accounts’ assets		—		(5	)		—			—			—
GWBL and other features’ liability		—		—			—			—			43
Total	$	—	$	(5	)	$	(1,149	)	$	(98	)	$	43
Level 3 Instruments
Second Quarter 2012
Held at June 30, 2012:(1)
Change in unrealized gains (losses):
Fixed maturities, available-for-sale:
Corporate	$	—	$	—		$	—		$	(2	)	$	—
Commercial mortgage-backed		—		—			—			40			—
Asset-backed		—		—			—			(1	)		—
Other fixed maturities, available-for-sale		—		—			—			—			—
Subtotal	$	—	$	—		$	—		$	37		$	—
Other equity investments		—		—			—			(1	)		—
GMIB reinsurance contracts		—		—			2,677			—			—
Separate Accounts’ assets		—		1			—			—			—
GWBL and other features’ liability		—		—			—			—			(141	)
Total	$	—	$	1		$	2,677		$	36		$	(141	)

⁽¹⁾  There were no Equity securities classified as AFS, Cash equivalents or Segregated securities at June 30, 2013 and 2012.

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	Earnings (Loss)
	Net Investment Income (Loss)		Investment Gains (Losses), Net			Increase (Decrease)  in Fair Value of Reinsurance Contracts			OCI			Policy- holders’     Benefits
	(In Millions)
Level 3 Instruments
First Six Months of 2013
Held at June 30, 2013:(1)
Change in unrealized gains (losses):
Fixed maturities, available-for-sale:
Corporate	$	—	$	—		$	—		$	2		$	—
Commercial mortgage-backed		—		—			—			(47	)		—
Asset-backed		—		—			—			—			—
Other fixed maturities, available-for-sale		—		—			—			(2	)		—
Subtotal	$	—	$	—		$	—		$	(47	)	$	—
Other equity investments		—		—			—						—
GMIB reinsurance contracts		—		—			(2,337	)		—			—
Separate Accounts’ assets		—		(5	)		—			—			—
GWBL and other features’ liability		—		—			—			—			135
Total	$	—	$	(5	)	$	(2,337	)	$	(47	)	$	135
Level 3 Instruments
First Six Months of 2012
Held at June 30, 2012:(1)
Change in unrealized gains (losses):
Fixed maturities, available-for-sale:
Corporate	$	—	$	—		$	—		$	1		$	—
Commercial mortgage-backed		—		—			—			78			—
Asset-backed		—		—			—			—			—
Other fixed maturities, available-for-sale		—		—			—			—			—
Subtotal	$	—	$	—		$	—		$	79		$	—
Other equity investments		—		—			—			(19	)		—
GMIB reinsurance contracts		—		—			834			—			—
Separate Accounts’ assets		—		3			—			—			—
GWBL and other features’ liability		—		—			—			—			(43	)
Total	$	—	$	3		$	834		$	60		$	(43	)

⁽¹⁾  There were no Equity securities classified as AFS, Cash equivalents or Segregated securities at June 30, 2013 and 2012.

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The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities as of June 30, 2013 and December 31, 2012, respectively.

Quantitative Information about Level 3 Fair Value Measurements

June 30, 2013

	Fair Value		Valuation Technique	Significant Unobservable Input	Range
	(In Millions)
Assets:
Investments:
Fixed maturities, available-for-sale:
Corporate	$	82	Matrix pricing model	Spread over the industry-specific benchmark yield curve	100 bps - 575 bps
Residential mortgage-backed		1	Matrix pricing model	Spread over U.S. Treasury curve	45 bps
Asset-backed		8	Matrix pricing model	Spread over U.S. Treasury curve	0 bps - 687 bps
Other equity investments		25	Market comparable companies	Revenue multiple	0.7x - 62.5x
				R&D multiple	1.0x - 32.4x
				Discount rate	18.0%
				Discount years	1.5
				Discount for lack of marketability
				and risk factors	50.0% - 60.0%
Separate Accounts’ assets		197	Third party appraisal	Capitalization rate	5.4%
				Exit capitalization rate	6.5%
				Discount rate	7.6%
		15	Discounted cash flow	Spread over U.S. Treasury curve	252 bps - 355 bps
				Inflation rate	2.0% - 3.0%
				Discount factor	1.0% - 5.5%
GMIB reinsurance contracts		8,707	Discounted Cash flow	Lapse Rates	1.5% - 8.0%
				Withdrawal Rates	0.2% - 8.0%
				GMIB Utilization Rates	0.0% - 15.0%
				Non-performance risk	11 bps - 43 bps
				Volatility rates - Equity	23.0% - 34.0%
Liabilities:
GMWB/GWBL(1)	$	128	Discounted Cash flow	Lapse Rates	1.0% - 8.0%
				Withdrawal Rates	0.0% - 7.0%
				Volatility rates - Equity	23.0% - 34.0%

⁽¹⁾  Excludes GMAB and GIB liabilities.

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Quantitative Information about Level 3 Fair Value Measurements

December 31, 2012

	Fair Value		Valuation Technique	Significant Unobservable Input	Range
	(In Millions)
Assets:
Investments:
Fixed maturities, available-for-sale:
Corporate	$	94	Matrix pricing model	Spread over the industry-specific benchmark yield curve	125 bps - 650 bps
Commercial mortgage-backed		889	Discounted Cash flow	Constant default rate	3.0% - 25.0%
				Probability of default	55.0%
				Loss severity	49.0%
				Discount rate	3.72% - 13.42%
Residential mortgage-backed		1	Matrix pricing model	Spread over U.S. Treasury curve	46 bps
Asset-backed		8	Matrix pricing model	Spread over U.S. Treasury curve	30 bps - 695 bps
Other equity investments		38	Market comparable companies	Revenue multiple	0.6x - 62.5x
				R&D multiple	1.0x - 30.6x
				Discount rate	18.0%
				Discount years	1 - 2
				Discount for lack of marketability
				and risk factors	40.0% - 60.0%
Separate Accounts’ assets		194	Third party appraisal	Capitalization rate	5.5%
				Exit capitalization rate	6.6%
				Discount rate	7.7%
		22	Discounted cash flow	Spread over U.S. Treasury curve	275 bps - 586 bps
				Inflation rate	2.0% - 3.0%
				Discount factor	1.0% - 2.0%
GMIB reinsurance contracts		11,044	Discounted Cash flow	Lapse Rates	1.5% - 8.0%
				Withdrawal Rates	0.2% - 8.0%
				GMIB Utilization Rates	0.0% - 15.0%
				Non-performance risk	13 bps - 45 bps
				Volatility rates - Equity	24.0% - 36.0%
Liabilities:
GMWB/GWBL(1)	$	205	Discounted Cash flow	Lapse Rates	1.0% - 8.0%
				Withdrawal Rates	0.0% - 7.0%
				Volatility rates - Equity	24.0% - 36.0%

⁽¹⁾  Excludes GMAB and GIB liabilities.

Excluded from the tables above at June 30, 2013 and December 31, 2012, are approximately $1,136 million and $516 million, respectively, Level 3 fair value measurements of investments for which the underlying quantitative inputs are not developed by the Company and are not reasonably available. The fair value measurements of these Level 3 investments comprise approximately 77.6% and 29.3% of total assets classified as Level 3 at June 30, 2013 and December 31, 2012, respectively, and represent only 0.8% and 0.4% of total assets measured at fair value on a recurring basis. These investments primarily consist of certain privately placed debt securities with limited trading activity, including commercial mortgage-, residential mortgage- and asset-backed instruments, and their fair values generally reflect unadjusted prices obtained from independent valuation service providers and indicative, non-binding quotes obtained from third-party broker-dealers recognized as market participants. Significant increases or decreases in the fair value amounts received from these pricing sources may result in the Company’s reporting significantly higher or lower fair value measurements for these Level 3 investments.

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Included in the tables above at June 30, 2013 and December 31, 2012, respectively, are approximately $82 million and $94 million fair value of privately placed, available-for-sale corporate debt securities classified as Level 3 that is determined by application of a matrix pricing model, representing approximately 37.4% and 26.5% of the total fair value of Level 3 securities in the corporate fixed maturities asset class. The significant unobservable input to the matrix pricing model is the spread over the industry-specific benchmark yield curve. Generally, an increase or decrease in spreads would lead to directionally inverse movement in the fair value measurements of these securities.

At December 31, 2012, commercial mortgage-backed securities classified as Level 3 consist of holdings subordinate to the AAA-tranche position and for which the Company applies a discounted cash flow methodology to measure fair value. The process for determining fair value first adjusts the contractual principal and interest payments to reflect performance expectations and then discounts the securities’ cash flows to reflect an appropriate risk-adjusted return. The significant unobservable inputs used in these fair value measurements are default rate and probability, loss severity, and the discount rate. An increase either in the cumulative default rate, probability of default, or loss severity would result in a decrease in the fair value of these securities; generally, those assumptions would change in a directionally similar manner. A decrease in the discount rate would result in directionally inverse movement in the fair value measurement of these securities.

Residential mortgage-backed securities classified as Level 3 primarily consist of non-agency paper with low trading activity. Included in the tables above at June 30, 2013 and December 31, 2012, are approximately 16.7% and 11.1%, respectively, of the total fair value of these Level 3 securities that is determined by application of a matrix pricing model and for which the spread over the U.S. Treasury curve is the most significant unobservable input to the pricing result. Generally, a change in spreads would lead to directionally inverse movement in the fair value measurements of these securities.

Asset-backed securities classified as Level 3 primarily consist of non-agency mortgage loan trust certificates, including subprime and Alt-A paper, credit tenant loans, and equipment financings. Included in the tables above at June 30, 2013 and December 31, 2012, are approximately 7.9% and 7.1%, respectively, of the total fair value of these Level 3 securities that is determined by application of a matrix pricing model and for which the spread over the U.S. Treasury curve is the most significant unobservable input to the pricing result. Significant increases (decreases) in spreads would result in significantly lower (higher) fair value measurements.

Other equity investments classified as Level 3 primarily consist of private venture capital fund investments of AllianceBernstein for which fair values are adjusted to reflect expected exit values as evidenced by financing and sale transactions with third parties or when consideration of other factors, such as current company performance and market conditions, is determined by management to require valuation adjustment. Significant increase (decrease) in isolation in the underlying enterprise value to revenue multiple and enterprise value to R&D investment multiple, if applicable, would result in significantly higher (lower) fair value measurement. Significant increase (decrease) in the discount rate would result in a significantly lower (higher) fair value measurement. Significant increase (decrease) in isolation in the discount factor ascribed for lack of marketability and various risk factors would result in significantly lower (higher) fair value measurement. Changes in the discount factor generally are not correlated to changes in the value multiples. Also classified as Level 3 at June 30, 2013 and December 31, 2012, respectively, are approximately $29 million and $30 million private venture capital fund-of-fund investments of AllianceBernstein for which fair value is estimated using the capital account balances provided by the partnerships. The interests in these partnerships cannot be redeemed. As of June 30, 2013 and December 31, 2012, AllianceBernstein’s aggregate unfunded commitments to these investments were approximately $12 million and $12 million, respectively.

Separate Accounts’ assets classified as Level 3 at June 30, 2013 and December 31, 2012, primarily consist of private equity investments with fair value of approximately $201 million and $198 million, respectively, including approximately $197 million and $194 million fair value investment in a private real estate fund, as well as mortgage loans with fair value of approximately $11 million and $18 million. Third party appraisal is used to measure the fair value of the private real estate investment fund, including consideration of observable replacement cost and sales comparisons for the underlying commercial properties, as well as the results from applying a discounted cash flow approach. Significant increase (decrease) in isolation in the capitalization rate and exit capitalization rate assumptions used in the discounted cash flow approach to appraisal value would result in a higher (lower) measure of fair value. A discounted cash flow approach also is applied to determine the approximately $4 million and $4 million fair value of the other private equity investment and for which the significant unobservable assumptions are an inflation rate formula and a discount factor that takes into account various risks, including the illiquid nature of the investment at June 30, 2013 and December 31, 2012, respectively. A significant increase (decrease) in the inflation rate would have

52

directionally inverse effect on the fair value of the security. With respect to the fair value measurement of mortgage loans, a significant increase (decrease) in the assumed spread over US Treasuries would produce a lower (higher) fair value measurement. Changes in the discount rate or factor used in the valuation techniques to determine the fair values of these private equity investments and mortgage loans generally are not correlated to changes in the other significant unobservable inputs. Significant increase (decrease) in isolation in the discount rate or factor would result in significantly lower (higher) fair value measurements. The remaining Separate Accounts’ investments classified as Level 3 at June 30, 2013 and December 31, 2012 consist of mortgage- and asset-backed securities with fair values of approximately $2 million, $3 million, $4 million and $4 million, respectively, and for which those measurements are determined using substantially the same valuation techniques as earlier described above for the Company’s General Account investments in these securities.

Significant unobservable inputs with respect to the fair value measurement of the Level 3 GMIB reinsurance contract asset and the Level 3 liabilities identified in the table above are developed using Company data. Validations of unobservable inputs are performed to the extent the Company has experience. When an input is changed the model is updated and the results of each step of the model are analyzed for reasonableness.

The significant unobservable inputs used in the fair value measurement of the Company’s GMIB reinsurance contract asset are lapse rates, withdrawal rates and GMIB utilization rates. Significant increases in GMIB utilization rates or decreases in lapse or withdrawal rates in isolation would tend to increase the GMIB reinsurance contract asset.

Fair value measurement of the GMIB reinsurance contract asset includes dynamic lapse and GMIB utilization assumptions whereby projected contractual lapses and GMIB utilization reflect the projected net amount of risks of the contract. As the net amount of risk of a contract increases, the assumed lapse rate decreases and the GMIB utilization increases. Increases in volatility would increase the asset.

The significant unobservable inputs used in the fair value measurement of the Company’s GMWB and GWBL liability are lapse rates and withdrawal rates. Significant increases in withdrawal rates or decreases in lapse rates in isolation would tend to increase these liabilities. Increases in volatility would increase these liabilities.

The carrying values and fair values at June 30, 2013 and December 31, 2012 for financial instruments not otherwise disclosed in Note 3 are presented in the table below. Certain financial instruments are exempt from the requirements for fair value disclosure, such as insurance liabilities other than financial guarantees and investment contracts and pension and other postretirement obligations.

	June 30, 2013
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3		Total
	(In Millions)
Consolidated:
Mortgage loans on real estate	$	5,364	$	—	$	—	$	5,502	$	5,502
Other limited partnership interests		1,618		—		—		1,618		1,618
Loans to affiliates		1,035		—		734		400		1,134
Policyholders’ liabilities: Investment contracts		2,466		—		—		2,557		2,557
Long-term debt		200		—		229		—		229
Loans from affiliates		825		—		960		—		960

53

	December 31, 2012
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3		Total
	(In Millions)
Consolidated:
Mortgage loans on real estate	$	5,059	$	—	$	—	$	5,249	$	5,249
Other limited partnership interests		1,514		—		—		1,514		1,514
Loans to affiliates		1,037		—		784		402		1,186
Policyholders’ liabilities: Investment contracts		2,494		—		—		2,682		2,682
Long-term debt		200		—		236		—		236
Loans from affiliates		1,325		—		1,676		—		1,676

Fair values for commercial and agricultural mortgage loans on real estate are measured by discounting future contractual cash flows to be received on the mortgage loan using interest rates at which loans with similar characteristics and credit quality would be made. The discount rate is derived from taking the appropriate U.S Treasury rate with a like term to the remaining term of the loan and adding a spread reflective of the risk premium associated with the specific loan. Fair values for mortgage loans anticipated to be foreclosed and problem mortgage loans are limited to the fair value of the underlying collateral, if lower.

Other limited partnership interests and other equity investments, including interests in investment companies, are accounted for under the equity method and for which the carrying value provides a reasonable estimate of fair value as the underlying investments of these partnerships are valued at estimated fair value.

Fair values for the Company’s long-term debt are determined from quotations provided by brokers knowledgeable about these securities and internally assessed for reasonableness. The fair values of the Company’s borrowing and lending arrangements with AXA affiliated entities are determined in the same manner as for such transactions with third parties, including matrix pricing models for debt securities and discounted cash flow analysis for mortgage loans.

The fair values for the Company’s association plans contracts, supplementary contracts not involving life contingencies (“SCNILC”), deferred annuities and certain annuities, which are included in Policyholder’s account balances are estimated using projected cash flows discounted at rates reflecting current market rates. Significant unobservable inputs reflected in the cash flows include lapse rates and withdrawal rates. Incremental adjustments may be made to the fair value to reflect non-performance risk. Certain other products such as Access Accounts are held at book value.

7) EMPLOYEE BENEFIT PLANS

The funding policy of the Company for its qualified pension plans is to satisfy its funding obligations each year in an amount not less than the minimum required by the ERISA, as amended by the Pension Act, and not greater than the maximum it can deduct for Federal income tax purposes.

In the first six months of 2013, no cash contributions were made by AXA Equitable or AllianceBernstein to their respective qualified pension plans. Based on the funded status of the Company’s plans at June 30, 2013, no minimum contribution is required to be made in 2013 under ERISA, as amended by the Pension Act, but management is currently evaluating if it will make contributions for the remainder of 2013.

54

Components of certain benefit costs for the Company were as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
	(In Millions)
Net Periodic Pension Expense:
(Qualified and Non-qualified Plans)
Service cost	$	11		$	11		$	22		$	22
Interest cost		24			27			47			53
Expected return on assets		(39	)		(35	)		(77	)		(69	)
Net amortization		41			41			82			82
Net Periodic Pension Expense	$	37		$	44		$	74		$	88

8) SHARE-BASED COMPENSATION PROGRAMS

AXA and AXA Financial sponsor various share-based compensation plans for eligible employees and financial professionals of AXA Financial and its subsidiaries, including the Company. AllianceBernstein also sponsors its own unit option plans for certain of its employees. Activity in these share-based plans in the discussions that follow relates to awards granted to eligible employees of AXA Equitable under each of these plans in the aggregate, except where otherwise noted.

For the second quarter and first six months of 2013 and 2012, respectively, the Company recognized compensation costs (credits) of $6 million, $21 million, $(5) million and $16 million for share-based payment arrangements as further described herein.

On March 22, 2013, under the terms of the 2013 AXA International Performance Share Plan, AXA awarded approximately 2.2 million unearned performance shares to employees of AXA Financial and its subsidiaries. The extent to which 2013-2014 cumulative performance targets measuring the performance of AXA and the insurance related businesses of AXA Financial Group are achieved will determine the number of performance shares earned, which may vary in linear formula between 0% and 130% of the number of performance shares at stake. The performance shares earned during this performance period will vest and be settled on the third anniversary of the award date. The plan will settle in shares to all participants. In the second quarter and first six months of 2013, the Company recognized expenses associated with the March 22, 2013 grant of performance shares of approximately $1 million and $8 million, respectively.

On March 22, 2013, approximately 457,317 options to purchase AXA ordinary shares were granted to employees of AXA Financial and its subsidiaries under the terms of the Stock Option Plan at an exercise price of 13.81 euros. All of those options have a four-year graded vesting schedule, with one-third vesting on each of the second, third, and fourth anniversaries of the grant date. Approximately 246,000 of the total options awarded on March 22, 2013 are further subject to conditional vesting terms that require the AXA ordinary share price to outperform the Euro Stoxx Insurance Index over a specified period. All of the options granted on March 22, 2013 have a ten-year term. The weighted average grant date fair value per option award was estimated at $1.78 using a Black-Scholes options pricing model with modification to measure the value of the conditional vesting feature. Key assumptions used in the valuation included expected volatility of 31.27%, a weighted average expected term of 7.7 years, an expected dividend yield of 7.52% and a risk-free interest rate of 1.34%. The total fair value of these options (net of expected forfeitures) of $814,431 is charged to expense over the shorter of the vesting term or the period up to the date at which the participant becomes retirement eligible. In the second quarter and first six months of 2013, the Company recognized expenses (credits) associated with the March 22, 2013 grant of options of $(152,892) and $297,704, respectively.

On April 4, 2013, cash distributions of approximately $7 million, and share distributions of approximately $49,000 were made to active and former AXA Equitable employees in settlement of 390,460 performance units, representing the remaining 50 percent of the number of performance units earned under the terms of the AXA Performance Unit Plan 2010. The first 50 percent of the performance units earned under the terms of the AXA Performance Unit Plan 2010 were distributed in cash in April 2012.

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On March 16, 2012, under the terms of the AXA Miles Program 2012, AXA granted 50 AXA Miles to every employee and eligible financial professional of AXA Group for the purpose of enhancing long-term employee-shareholder engagement. Each AXA Mile represents a phantom share of AXA stock that will convert to an actual AXA ordinary share at the end of a four-year vesting period provided the employee or financial professional remains in the employ of the company or has retired from service. Half of each AXA Miles grant, or 25 AXA Miles, were subject to an additional vesting condition that required improvement in at least one of two AXA performance metrics in 2012 as compared to 2011 and was confirmed to have been achieved. The total fair value of these AXA Miles awards of approximately $6 million, net of expected forfeitures, is charged to expense over the shorter of the service vesting term or the period up to the date at which the participant becomes retirement eligible. In the second quarter and first six months of 2013, the Company recognized expenses associated with the March 16, 2012 grant of AXA Miles of $65,811 and $131,622, respectively.

AllianceBernstein Long-term Incentive Compensation Plans. During the second quarter and first six months of 2013, AllianceBernstein purchased 0.3 million and 1.3 million Holding units for $7 million and $27 million, respectively. These amounts reflect open-market purchases of 0.3 million and 1.1 million Holding units for $7 million and $23 million, respectively, with the remainder relating to purchases of Holding units from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards, offset by Holding units purchased by employees as part of a distribution reinvestment election.

AllianceBernstein granted to employees and Eligible Directors 6.8 million restricted Holding awards (including 6.5 million restricted Holding units granted in January 2013 for 2012 year-end awards) during the first six months of 2013. To fund these awards, AllianceBernstein allocated previously repurchased Holding units that had been held in the consolidated rabbi trust. In January 2013, 6.5 million restricted Holding units held in the consolidated rabbi trust, valued at $129 million, were awarded for the 2012 awards. There were approximately 13.1 million unallocated Holding units remaining in the consolidated rabbi trust as of June 30, 2013.

Effective July 1, 2013, management of AllianceBernstein and AllianceBernstein Holding L.P. (“AB Holding”) retired all unallocated Holding units in AllianceBernstein’s consolidated rabbi trust. To retire such units, AllianceBernstein delivered the unallocated Holding units held in its consolidated rabbi trust to AB Holding in exchange for the same amount of AllianceBernstein units. Each entity then retired their respective units. As a result, on July 1, 2013, each of AllianceBernstein’s and AB Holding’s units outstanding decreased by approximately 13.1 million units. AllianceBernstein and AB Holding intend to retire additional units as AllianceBernstein purchases Holding units on the open market. AB Holding will then newly issue Holding units to fund AllianceBernstein’s restricted Holding unit awards in exchange for newly-issued AllianceBernstein units. Management does not expect AXA Equitable’s Consolidated Balance Sheets, Statements of Earnings and Shareholder’s Equity to be materially impacted by this transaction.

9) INCOME TAXES

Income taxes for the interim periods ended June 30, 2013 and 2012 have been computed using an estimated annual effective tax rate. This rate is revised, if necessary, at the end of each successive interim period to reflect the current estimate of the annual effective tax rate. The tax benefit recognized year-to-date 2013 was limited to the amount that would have been recognized if the year-to-date loss was the anticipated loss for the full year.

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10) LITIGATION

There have been no new material legal proceedings and no material developments in specific litigations or regulatory matters previously reported in the Company’s Notes to Consolidated Financial Statements for the year ended December 31, 2012, except as set forth below:

Insurance Litigation

A lawsuit was filed in the United States District Court of the District of New Jersey in July 2011, entitled Mary Ann Sivolella v. AXA Equitable Life Insurance Company and AXA Equitable Funds Management Group, LLC (“FMG LLC”) (“Sivolella Litigation”). The lawsuit was filed derivatively on behalf of eight funds. The lawsuit seeks recovery under Section 36(b) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), for alleged excessive fees paid to AXA Equitable and FMG LLC for investment management services. In November 2011, plaintiff filed an amended complaint, adding claims under Sections 47(b) and 26(f) of the Investment Company Act, as well as a claim for unjust enrichment. In addition, plaintiff purports to file the lawsuit as a class action in addition to a derivative action. In the amended complaint, plaintiff seeks recovery of the alleged overpayments, rescission of the contracts, restitution of all fees paid, interest, costs, attorney fees, fees for expert witnesses and reserves the right to seek punitive damages where applicable. In December 2011, AXA Equitable and FMG LLC filed a motion to dismiss the amended complaint. In May 2012, the Plaintiff voluntarily dismissed her claim under Section 26(f) seeking restitution and rescission under Section 47(b) of the 1940 Act. In September 2012, the Court denied the defendants’ motion to dismiss as it related to the Section 36(b) claim and granted the defendants’ motion as it related to the unjust enrichment claim.

In January 2013, a second lawsuit was filed in the United States District Court of the District of New Jersey entitled Sanford et al. v. FMG LLC (“Sanford Litigation”). The lawsuit was filed derivatively on behalf of eight funds, four of which are named in the Sivolella lawsuit as well as four new funds, and seeks recovery under Section 36(b) of the Investment Company Act for alleged excessive fees paid to FMG LLC for investment management services. In light of the similarities of the allegations in the Sivolella and Sanford Litigations, the parties and the Court agreed to consolidate the two lawsuits.

In April 2013, the plaintiffs in the Sivolella and Sanford Litigations amended the complaints to add additional claims under Section 36(b) of the Investment Company Act for recovery of alleged excessive fees paid to FMG LLC in its capacity as administrator of EQ Advisors Trust. The Plaintiffs seek recovery of the alleged overpayments, or alternatively, rescission of the contract and restitution of the excessive fees paid, interest, costs and fees.

In addition to the matters described above, a number of lawsuits, claims and assessments have been filed against life and health insurers and asset managers in the jurisdictions in which AXA Equitable and its respective subsidiaries do business. These actions and proceedings involve, among other things, insurers’ sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, alleged breach of fiduciary duties, alleged mismanagement of client funds and other matters. Some of the matters have resulted in the award of substantial judgments against other insurers and asset managers, including material amounts of punitive damages, or in substantial settlements. In some states, juries have substantial discretion in awarding punitive damages. AXA Equitable and its subsidiaries from time to time are involved in such actions and proceedings. Some of these actions and proceedings filed against AXA Equitable and its subsidiaries have been brought on behalf of various alleged classes of plaintiffs and certain of these plaintiffs seek damages of unspecified amounts. While the ultimate outcome of such matters cannot be predicted with certainty, in the opinion of management no such matter is likely to have a material adverse effect on AXA Equitable’s consolidated financial position or results of operations. However, it should be noted that the frequency of large damage awards, including large punitive damage awards that bear little or no relation to actual economic damages incurred by plaintiffs in some jurisdictions, continues to create the potential for an unpredictable judgment in any given matter.

Although the outcome of litigation and regulatory matters generally cannot be predicted with certainty, management intends to vigorously defend against the allegations made by the plaintiffs in the actions described above and believes that the ultimate resolution of the litigation and regulatory matters described therein involving AXA Equitable and/or its subsidiaries should not have a material adverse effect on the consolidated financial position of AXA Equitable. Management cannot make an estimate of loss, if any, or predict whether or not any of the litigations and regulatory matters described above will have a material adverse effect on AXA Equitable’s consolidated results of operations in any particular period.

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11) RELATED PARTY TRANSACTIONS

AXA Equitable reimburses AXA Financial for expenses relating to the Excess Retirement Plan, Supplemental Executive Retirement Plan and certain other employee benefit plans that provide participants with medical, life insurance, and deferred compensation benefits. Such reimbursement was based on the cost to AXA Financial of the benefits provided which totaled $11 million, $23 million, $12 million and $24 million, respectively, for the second quarter and first six months of 2013 and 2012.

AXA Equitable paid $156 million, $308 million, $174 million and $366 million, respectively, of commissions and fees to AXA Distribution and its subsidiaries for sales of insurance products for the second quarter and first six months of 2013 and 2012. AXA Equitable charged AXA Distribution’s subsidiaries $61 million, $141 million, $102 million and $207 million, respectively, for their applicable share of operating expenses for the second quarter and first six months of 2013 and 2012, pursuant to the Agreements for Services.

At June 30, 2013 and December 31, 2012, the Company’s GMIB reinsurance asset with AXA RE Arizona Company (formerly AXA Bermuda, which during second quarter 2012, redomesticated from Bermuda to Arizona and changed its name to AXA RE Arizona Company) (“AXA Arizona”) had carrying values of $7,042 million and $8,888 million, respectively, and is reported in Guaranteed minimum income benefit reinsurance contract asset, at fair value in the consolidated balance sheets. Ceded premiums to AXA Arizona in the second quarter and first six months of 2013 and 2012 related to the UL and no lapse guarantee riders totaled approximately $122 million, $238 million, $120 million and $237 million, respectively. Ceded claims paid in the second quarter and first six months of 2013 and 2012 were $16 million, $35 million, $19 million and $35 million, respectively.

12) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

AOCI represents cumulative gains (losses) on items that are not reflected in earnings (loss). The balances as of June 30, 2013 and 2012 follow:

	June 30,
	2013			2012
	(In Millions)
Unrealized gains (losses) on investments	$	375		$	1,204
Defined benefit pension plans		(1,001	)		(1,134	)
Total accumulated other comprehensive income (loss)		(626	)		70
Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest		30			14
Accumulated Other Comprehensive Income (Loss) Attributable to AXA Equitable	$	(596	)	$	84

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The components of OCI, net-of-taxes for the second quarter and first six months of 2013 and 2012 follow:

	Three Months  Ended June 30,						Six Months  Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period	$	(1,545	)	$	627		$	(1,851	)	$	603
(Gains) losses reclassified into net earnings (loss) during the period(1)		19			21			32			22
Net unrealized gains (losses) on investments		(1,526	)		648			(1,819	)		625
Adjustments for policyholders’ liabilities, DAC, deferred income taxes and insurance liability loss recognition		705			(263	)		842			(193	)
Change in unrealized gains (losses), net of adjustments		(821	)		385			(977	)		432
Change in defined benefit plans:
Net gain (loss) arising during the period		25			(27	)		—			(52	)
Less: reclassification adjustments to net earnings (loss) for:(2)
Amortization of net prior service credit included in net periodic cost		55			—			55			—
Change in defined benefit plans(3)		80			(27	)		55			(52	)
Total other comprehensive income (loss), net of income taxes		(741	)		358			(922	)		380
Less: Other comprehensive (income) loss attributable to noncontrolling interest		5			2			9			1
Other Comprehensive Income (Loss) Attributable to AXA Equitable	$	(736	)	$	360		$	(913	)	$	381

⁽¹⁾  See “Reclassification adjustments” in Note 3.

⁽²⁾  These AOCI components are included in the computation of net periodic costs (see Note 7).

⁽³⁾  In the second quarter of 2013, the Company recorded an out-of-period adjustment of $83 million which reduced the liability for the qualified pension plan and increased OCI by $55 million, net of income taxes of $28 million.

Investment gains and losses reclassified from AOCI to net earnings (loss) primarily consist of realized gains (losses) on sales and OTTI of AFS securities and are included in Total investment gains (losses), net on the consolidated statements of earnings (loss). Amounts reclassified from AOCI to net earnings (loss) as related to defined benefit plans primarily consist of amortizations of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in Compensation and benefit expenses in the consolidated statements of earnings (loss). Amounts presented in the table above are net of tax.

13) RESTRUCTURING

As part of AXA Equitable’s on-going efforts to reduce costs and operate more efficiently, from time to time, management has approved and initiated plans to reduce headcount and relocate certain operations. In the second quarter and first six months of 2013 and 2012, respectively, AXA Equitable recorded a $53 million, $74 million, $2 million and $13 million pre-tax charge related to severance and lease costs. The amounts recorded in second quarter and first six months of 2013 included a pre-tax charge of $52 million related to the reduction in office space in the Company’s 1290 Avenue of the Americas New York, NY headquarters.

As a result of AllianceBernstein’s ongoing efforts to operate more efficiently, in the second quarter and first six months of 2013 and 2012, respectively, AllianceBernstein recorded a $3 million, $4 million, $4 million and $17 million pre-tax charge related to severance costs.

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14) SEGMENT INFORMATION

The following tables reconcile segment revenues and earnings (loss) from continuing operations before income taxes to total revenues and earnings (loss) as reported on the consolidated statements of earnings (loss) and segment assets to total assets on the consolidated balance sheets, respectively.

	Three Months  Ended June 30,						Six Months  Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Segment revenues:
Insurance	$	(194	)	$	5,836		$	(508	)	$	4,209
Investment Management(1)		737			646			1,447			1,326
Consolidation/elimination		(6	)		(7	)		(10	)		(12	)
Total Revenues	$	537		$	6,475		$	929		$	5,523

⁽¹⁾  Intersegment investment advisory and other fees of approximately $16 million, $32 million, $15 million and $29 million for the second quarter and first six months of 2013 and 2012, respectively, are included in total revenues of the Investment Management segment.

	Three Months  Ended June 30,						Six Months  Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Segment earnings (loss) from continuing operations, before income taxes:
Insurance	$	(1,652	)	$	3,747		$	(3,334	)	$	1,082
Investment Management(2)		136			80			262			179
Consolidation/elimination		(1	)		(1	)		(1	)		(1	)
Total Earnings (Loss) from Continuing Operations, before income taxes	$	(1,517	)	$	3,826		$	(3,073	)	$	1,260

⁽²⁾  Net of interest expense incurred on securities borrowed.

	June 30, 2013			December 31, 2012
	(In Millions)
Segment assets:
Insurance	$	164,575		$	164,201
Investment Management		11,679			12,647
Consolidation/elimination		(5	)		(5	)
Total Assets	$	176,249		$	176,843

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Item 2.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL

CONDITION AND RESULTS OF OPERATIONS

Management’s discussion and analysis of financial condition and results of operations for the Company that follows should be read in conjunction with the Consolidated Financial Statements and the related Notes to Consolidated Financial Statements included elsewhere herein, with the information provided under “Forward-looking Statements” included elsewhere herein and Management’s Discussion and Analysis (“MD&A”) in Part II, Item 7 and “Risk Factors” in Part I, Item 1A included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 ( “2012 Form 10-K”).

BACKGROUND

Established in 1859, AXA Equitable is among the oldest and largest life insurance companies in the United States. As part of a diversified financial services organization, AXA Equitable offers a broad spectrum of insurance and investment management products and services. Together with its affiliates, including AllianceBernstein, AXA Equitable is a leading asset manager, with total assets under management of approximately $519.3 billion at June 30, 2013, of which approximately $434.6 billion were managed by AllianceBernstein. AXA Equitable is an indirect wholly owned subsidiary of AXA Financial, which is itself an indirect wholly owned subsidiary of AXA S.A. (“AXA”), a French holding company for an international group of insurance and related financial services companies.

The Company conducts operations in two business segments, the Insurance segment and the Investment Management segment. The Insurance segment offers a variety of traditional, variable and universal life insurance products, variable and fixed-interest annuity products and asset management principally to individuals, small and medium-size businesses and professional and trade associations. The Investment Management segment is principally comprised of the investment management business of AllianceBernstein. AllianceBernstein provides research, diversified investment management and related services globally to a broad range of clients. This segment also includes institutional Separate Accounts principally managed by AllianceBernstein that provide various investment options for large group pension clients, primarily defined benefit and contribution plans, through pooled or single group accounts.

CURRENT MARKET CONDITIONS AND OVERVIEW

The Company’s business and consolidated results of operations are materially affected by conditions in the global capital markets and the economy, generally. During second quarter 2013, increases in interest rates and higher equity markets impacted the Company’s consolidated results of operations. The $1.0 billion and $2.0 billion consolidated net loss of the Company and the $1.1 billion and $2.1 billion consolidated net loss of the Insurance segment in second quarter and first six months of 2013, respectively were largely due to the market driven decreases in fair values of derivative instruments and GMIB reinsurance contract asset used to hedge the variable annuity products with Guaranteed Minimum Death Benefit (“GMDB”), Guaranteed Minimum Income Benefit (“GMIB”) and Guaranteed Withdrawal Benefit for Life (“GWBL”) features (collectively, the “VA Guarantee Features”) that are reported at fair value. Under accounting principles generally accepted in the United States of America (“U.S. GAAP”), reserves for GMDB and GMIB features do not fully and immediately reflect the impact of equity and interest market fluctuations. If the reserves were calculated on a basis that would fully and immediately reflect the impact of equity and interest market fluctuations, U.S. GAAP earnings would be significantly higher than those being reported. For additional information, see “Accounting For Variable Annuity Guarantee Features” below.

The Company continues to make progress on its strategy of developing its product offerings, building distribution and effectively managing the in-force business. In the second quarter and first six months of 2013, life insurance and annuities first year premiums and deposits by the Company increased by $144 million, or 8.0% and $411 million, or 12.4% from the comparable 2012 periods, primarily due to increased sales of annuity products in the wholesale channel. The Company continues to proactively manage the risks associated with its in-force business, particularly variable annuities with guarantee features. For example, the Company suspended the acceptance of contributions into certain Accumulator^® contracts issued prior to June 2009 and also offered a limited program to purchase from certain policyholders the GMDB rider contained in their Accumulator^® contracts. The Company has also taken steps to limit and/or suspend the acceptance of contributions to other annuity products.

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The Company also continues to make solid progress in its on-going efforts to reduce costs, manage expenses and operate more efficiently. As a result of management’s comprehensive study of the Company’s real estate footprint and related lease obligations, the Company has significantly reduced its occupancy in its 1290 Avenue of the Americas, New York, NY headquarters. In second quarter 2013, the Company recorded a non-cash pre-tax charge of $52 million related to the ongoing contractual operating lease obligations for this space and the Company’s estimate of current market rental rates, as well as the write-off of leasehold improvements, furniture and equipment related to the vacated space. In 2014, the Company is expected to record an estimated non-cash pre-tax charge of approximately $31 million related to additional space to be vacated.

At AllianceBernstein, total assets under management (“AUM”) as of June 30, 2013 were $434.6 billion, an increase of $4.6 billion, or 1.07%, compared to December 31, 2012, and up $27.3 billion, or 6.71%, compared to June 30, 2012. During the first six months of 2013, AUM increased as a result of market appreciation of $1.8 billion and net inflows of $2.8 billion. During the twelve month period ended June 30, 2013, AUM increased as a result of market appreciation of $23.8 billion and net inflows of $3.5 billion.

ACCOUNTING FOR VA GUARANTEE FEATURES

In recent years, variable annuity products with VA Guarantee Features have been the predominant products issued by the Company. These products account for over half of the Company’s Separate Accounts assets and have been a significant driver of its results. Because the future claims exposure on these products is sensitive to movements in the equity markets and interest rates, the Company has in place various hedging and reinsurance programs that are designed to mitigate the economic risks of movements in the equity markets and interest rates. Due to the accounting treatment under U.S. GAAP, certain of these hedging and reinsurance programs contribute to earnings volatility. These programs generally include, among others, the following:

• Hedging programs. Hedging programs are used to mitigate certain risks associated with the VA Guarantee Features. These programs 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 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 as in second quarter and first six months of 2013, respectively, when the Company recognized approximately $638 million and $1.5 billion of losses on free standing derivatives and $1.1 billion and $2.3 billion of losses on the change in fair value of the GMIB reinsurance contract asset which were not substantially offset by an $11 million and $163 million decrease in reserves for the VA Guarantee Features.

• 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. Additionally, under U.S. GAAP, the GMIB reinsurance contracts are accounted for as derivatives and are reported at fair value. Gross reserves for GMIB as noted above, 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 as in second quarter 2013, particularly during periods in which equity markets and/or interest rates change significantly.

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As referred to in the preceding paragraphs, higher interest rates and higher equity markets in second quarter 2013 and decreasing interest rates and volatility in equity markets in the second quarter of 2012 contributed to earnings volatility. The table below shows, for the second quarter and first six months of 2013 and 2012 and the year ended December 31, 2012, the impact on Earnings (Loss) from continuing operations before income taxes of the items discussed above (prior to the impact of Amortization of deferred acquisition costs):

	Three Months  Ended June 30,						Six Months  Ended June 30,						Year Ended   December 31,   2012
	2013			2012			2013			2012
	(In Millions)
Income (loss) on free-standing derivatives(1)	$	(638	)	$	1,152		$	(1,526	)	$	(141	)	$	(851	)
Increase (decrease) in fair value of GMIB reinsurance contracts(2)		(1,149	)		2,677			(2,337	)		834			497
(Increase) decrease in GMDB, GMIB and GWBL reserves, net of related GMDB reinsurance(3)		11			(687	)		163			(276	)		(472	)
Total	$	(1,776	)	$	3,142		$	(3,700	)	$	417		$	(826	)

⁽¹⁾  Reported in Net investment income (loss) in the consolidated statements of earnings (loss)

⁽²⁾  Reported in Increase (decrease) in fair value of reinsurance contracts in the consolidated statements of earnings (loss)

⁽³⁾  Reported in Policyholders’ benefits in the consolidated statements of earnings (loss)

Reinsurance ceded – AXA Arizona. The Company has implemented capital management actions to mitigate statutory reserve strain for GMDB and GMIB riders on the Accumulator^® products sold on or after January 1, 2006 and in-force at September 30, 2008 through reinsurance transactions with AXA Arizona. AXA Arizona also reinsures a 90% quota share of level premium term insurance issued by AXA Equitable on or after March 1, 2003 through December 31, 2008 and lapse protection riders under universal life insurance policies issued by AXA Equitable on or after June 1, 2003 through June 30, 2007. For AXA Equitable, these reinsurance transactions currently provide statutory capital relief and mitigate the volatility of capital requirements.

The Company receives statutory reserve credits for reinsurance treaties with AXA Arizona to the extent AXA Arizona holds assets in an irrevocable trust ($7.7 billion at June 30, 2013) and/or letters of credit ($2.7 billion at June 30, 2013). AXA Arizona is required to hold a combination of assets in the trust and/or letters of credit so that the Company can take credit for the reinsurance.

For further information regarding this transaction, see “Item 1A-Risk Factors” included in the 2012 Form 10-K.

2013 Refinements. In second quarter 2013, the Company refined the projection of future interest rates used to value GMIB claims at the time of GMIB election which decreases expected future claim costs and the fair value of the GMIB reinsurance contract asset. The after DAC and after tax impacts of these updated assumptions and refinements were an increase to Net earnings of approximately $129 million.

2012 Assumption Changes and Refinements. In the second quarter of 2012, expectations of partial withdrawal rates for variable annuities with GMDB and GMIB guarantees were updated based on emerging experience. This update increases expected future claim costs and the fair value of the GMIB reinsurance contract asset. Also in the second quarter of 2012, expectations of GMIB election rates were lowered for certain ages based on emerging experience. This decreases the expected future GMIB claim cost and the fair value of the GMIB reinsurance contract asset, while increasing the expected future GMDB claim cost. Additionally, the Company refined the projection of future interest rates used to value GMIB claims at the time of GMIB election which decreases expected future claim costs and the fair value of the GMIB reinsurance contract asset. The after DAC and after tax impacts of these updated assumptions and refinements were an increase to Net earnings of approximately $291 million in the second quarter of 2012.

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CRITICAL ACCOUNTING ESTIMATES

Application of Critical Accounting Estimates

The Company’s MD&A is based upon its consolidated financial statements that have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires the application of accounting policies that often involve a significant degree of judgment, requiring management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management, on an ongoing basis, reviews and evaluates the estimates and assumptions used in the preparation of the consolidated financial statements, including those related to investments, recognition of insurance income and related expenses, DAC, future policy benefits, recognition of Investment Management revenues and related expenses and benefit plan costs. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The results of such factors form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. If management determines that modifications in assumptions and estimates are appropriate given current facts and circumstances, the consolidated results of operations and financial position as reported in the Consolidated Financial Statements could change significantly.

Management believes the critical accounting policies relating to the following areas are most dependent on the application of estimates, assumptions and judgments:

• Insurance Revenue Recognition

• Insurance Reserves and Policyholder Benefits

• DAC

• Goodwill and Other Intangible Assets

• Investment Management Revenue Recognition and Related Expenses

• Share-based and Other Compensation Programs

• Pension Plans

• Investments – Impairments and Fair Value Measurements

• Income Taxes

A discussion of each of the critical accounting estimates may be found in the Company’s 2012 Form 10-K, under “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Estimates—Application of Critical Accounting Estimates.”

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CONSOLIDATED RESULTS OF OPERATIONS

AXA Equitable

Consolidated Results of Operations

	Three Months  Ended June 30,						Six Months  Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Universal life and investment-type product policy fee income	$	853		$	821		$	1,750		$	1,649
Premiums		128			116			254			259
Net investment income (loss):
Investment income (loss) from derivative instruments		(739	)		1,517			(1,646	)		(42	)
Other investment income (loss)		529			545			1,094			1,178
Total net investment income (loss)		(210	)		2,062			(552	)		1,136
Investment gains (losses), net:
Total other-than-temporary impairment losses		(50	)		(50	)		(64	)		(53	)
Portion of loss recognized in other comprehensive income		15			1			15			1
Net impairment losses recognized		(35	)		(49	)		(49	)		(52	)
Other investment gains (losses), net		1			(4	)		(1	)		(9	)
Total investment gains (losses), net		(34	)		(53	)		(50	)		(61	)
Commissions, fees and other income		949			852			1,864			1,706
Increase (decrease) in the fair value of the reinsurance contract asset		(1,149	)		2,677			(2,337	)		834
Total revenues		537			6,475			929			5,523
Policyholders’ benefits		539			1,250			967			1,387
Interest credited to policyholders’ account balances		251			250			632			566
Compensation and benefits		449			393			872			820
Commissions		292			320			573			651
Distribution related payments		112			86			221			166
Amortization of deferred sales commission		10			10			21			18
Interest expense		25			27			53			54
Amortization of deferred policy acquisition costs		120			245			159			328
Capitalization of deferred policy acquisition costs		(162	)		(192	)		(321	)		(375	)
Rent expense		42			56			85			117
Amortization of other intangible assets		6			6			12			12
Other operating costs and expenses		370			198			728			519
Total benefits and other deductions		2,054			2,649			4,002			4,263
Earnings (loss) from continuing operations before income taxes		(1,517	)		3,826			(3,073	)		1,260
Income tax (expense) benefit		549			(1,358	)		1,171			(365	)
Net earnings (loss)		(968	)		2,468			(1,902	)		895
Less: net (earnings) loss attributable to the noncontrolling interest		(83	)		(47	)		(153	)		(109	)
Net Earnings (Loss) Attributable to AXA Equitable	$	(1,051	)	$	2,421		$	(2,055	)	$	786

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The consolidated earnings (loss) narrative that follows discusses the results for the second quarter and six months ended June 30, 2013 compared to the comparable 2012 period’s results. For additional information, see “Accounting for VA Guarantee Features” at page 62.

Three Months Ended June 30, 2013 Compared to Three Months Ended June 30, 2012

Net loss attributable to the Company in second quarter 2013 was $1.0 billion, a decrease of $3.4 billion from the $2.4 billion of net earnings attributable to the Company for second quarter 2012. The decrease is primarily attributable to a decrease in the fair value of reinsurance contract asset and investment losses from derivative instruments partially offset by a decrease in reserves, lower DAC amortization and a tax benefit reported in second quarter 2013 as compared to an increase in the fair value of the reinsurance contract and investment income from derivative instruments partially offset by an increase in reserves, higher DAC amortization and a tax expense reported in second quarter 2012.

Net earnings attributable to the noncontrolling interest were $83 million in second quarter 2013 as compared to $47 million for second quarter 2012. The increase was principally due to higher earnings from AllianceBernstein in second quarter 2013 from the amount reported in second quarter 2012.

Net loss inclusive of earnings attributable to noncontrolling interest was $968 million in second quarter 2013, a decrease of $3.4 billion from the $2.5 billion net earnings reported for second quarter 2012. The Insurance segment’s net loss in second quarter 2013 was $1.1 billion, a decrease of $3.5 billion from $2.4 billion net earnings in second quarter 2012, while the net earnings for the Investment Management segment totaled $111 million, a $46 million increase from the $65 million in net earnings in second quarter 2012.

Income tax benefit in second quarter 2013 was $549 million compared to an income tax expense of $1.4 billion in second quarter 2012. The income tax benefit in second quarter 2013 was primarily due to the pre-tax losses in the Insurance segment from an income tax expense recorded in second quarter 2012 primarily due to pre-tax earnings in the Insurance Segment. Income taxes for second quarter 2013 and 2012 were computed using an annual effective tax rate. The tax benefit recognized in second quarter 2013 was limited to the amount that would have been recognized if the year-to-date loss was the anticipated loss for the full year. In second quarter 2013 and 2012, Federal income taxes attributable to consolidated operations were different from the amounts determined by multiplying the earnings before income taxes and noncontrolling interest by the expected Federal income tax rate of 35%. The primary differences were dividend received deductions, nontaxable investment income and noncontrolling interest permanent differences. The Company does not provide Federal and state income taxes on the undistributed earnings of non-U.S. corporate subsidiaries as such earnings are now permanently invested outside of the United States.

Losses from continuing operations before income taxes were $1.5 billion in second quarter 2013, a decrease of $5.3 billion from the $3.8 billion in pre-tax earnings in second quarter 2012. The Insurance segment’s loss from continuing operations totaled $1.7 billion in second quarter 2013, $5.4 billion lower than second quarter 2012’s earnings of $3.7 billion; the pre-tax losses in second quarter 2013 as compared to pre-tax earnings in second quarter 2012 was primarily due to a decrease in the fair value of the reinsurance contract asset, investment losses from derivative instruments and higher other operating costs and expenses partially offset by lower policyholders’ benefits (including lower increases in GMDB/GMIB/GWBL/GMAB reserves), lower amortization of DAC, higher universal life and investment-type product policy fee income and lower commission expenses. The Investment Management segment’s earnings from continuing operations were $136 million in second quarter 2013, an increase of $56 million from earnings of $80 million in second quarter 2012, principally due to higher investment advisory and service fees, higher distribution revenues, higher investment income and lower rent expense partially offset by higher compensation and benefits and higher distribution related payments.

Total revenues were $537 million in second quarter 2013, a decrease of $5.9 billion from $6.5 billion reported in second quarter 2012. The Insurance segment reported a $6.0 billion decrease in its revenues while the Investment Management segment had an increase of $91 million. The decrease of Insurance segment revenues to a negative $194 million in second quarter 2013 from the positive revenues of $5.8 billion in second quarter 2012 was principally due to a decrease in the fair value of the reinsurance contract asset accounted for as derivatives of $1.1 billion from the reported increase of $2.7 billion in second quarter 2012, $747 million of investment loss from derivatives as compared to investment income of $1.5 billion in second quarter 2012 partially offset by $32 million higher policy fee income. The Investment Management segment’s $737 million in revenues in second quarter 2013 as compared to $646 million in second quarter 2012 primarily was due to a $36 million increase in investment advisory and services fees, a $24 million increase in distribution revenues and by a $34 million increase in net investment income.

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Total benefits and expenses were $2.0 billion in second quarter 2013, a decrease of $595 million from the $2.6 billion total for second quarter 2012. The Insurance segment’s total benefits and expenses were $1.5 billion, a decrease of $631 million from the second quarter 2012 total of $2.1 billion. The Investment Management segment’s total expenses for second quarter 2013 were $601 million, $35 million higher than the $566 million in expenses in second quarter 2012. The Insurance segment’s decrease was principally due to a $711 million decrease in policyholders’ benefits, lower DAC amortization ($120 million in second quarter 2013 as compared to DAC amortization of $245 million in second quarter 2012) and by a $28 million decrease in commissions partially offset by a $178 million increase in other operating costs and expenses and $30 million lower DAC capitalization. The increase in expenses for the Investment Management segment was principally due to $32 million higher compensation and benefits expenses, $26 million higher distribution related payments partially offset by $16 million lower rent expense.

Six Months Ended June 30, 2013 Compared to Six Months Ended June 30, 2012

Net loss attributable to the Company in the first six months of 2013 was $2.0 billion, a decrease of $2.8 billion from the $786 million of net earnings attributable to the Company during the first six months 2012. The decrease for the first six months of 2013 is primarily attributable to a decrease in fair value of the reinsurance contract asset and higher investment losses from derivative instruments partially offset by a tax benefit, a decrease in reserves and lower DAC amortization as compared to an increase in the fair value of the reinsurance contract asset, lower investment losses from derivative instruments, a tax expense, an increase in reserves and higher DAC amortization for the first six months of 2012.

Net earnings attributable to the noncontrolling interest were $153 million in the first six months of 2013 as compared to $109 million for the first six months of 2012. The increase was principally due to higher earnings from AllianceBernstein in the first six months of 2013 compared to the first six months of 2012.

Net loss inclusive of earnings attributable to noncontrolling interest was $1.9 billion in the first six months of 2013, a decrease of $2.8 billion from the $895 million net earnings reported for the first six months of 2012. The Insurance segment’s net loss in the first six months of 2013 was $2.1 billion, a decrease of $2.8 billion from $744 million net earnings in the first six months of 2012, while the net earnings for the Investment Management segment totaled $208 million, a $56 million increase from the $152 million in net earnings in the first six months of 2012.

Income tax benefit in the first six months of 2013 was $1.2 billion compared to an income tax expense of $365 million in the first six months of 2012. The income tax benefit recorded for the first six months of 2013 was primarily due to pre-tax losses in the Insurance segment as compared to an income tax expense recorded in the first six months of 2012 resulting primarily from pre-tax earnings in the Insurance Segment. Income taxes for the first six months of 2013 and 2012 were computed using an annual effective tax rate. The tax benefit recognized year-to-date 2013 was limited to the amount that would have been recognized if the year-to-date loss was the anticipated loss for the full year. In the first six months of 2013 and 2012, Federal income taxes attributable to consolidated operations were different from the amounts determined by multiplying the earnings before income taxes and noncontrolling interest by the expected Federal income tax rate of 35%. The primary differences were dividend received deductions, nontaxable investment income and noncontrolling interest permanent differences. The Company does not provide Federal and state income taxes on the undistributed earnings of non-U.S. corporate subsidiaries as such earnings are now permanently invested outside of the United States. As a result, in the first six months of 2012, there was a tax benefit of $6 million in the Investment Management segment related to the release of deferred taxes on foreign earnings.

Losses from continuing operations before income taxes were $3.1 billion in the first six months of 2013, a decrease of $4.3 billion from the $1.3 billion in pre-tax earnings in the first six months of 2012. The Insurance segment’s loss from continuing operations totaled $3.3 billion in the first six months of 2013, $4.4 billion lower than the first six months of 2012’s earnings of $1.1 billion; the decrease was primarily due to a decrease in the fair value of the reinsurance contract asset as compared to an increase for the first six months of 2012, significantly higher investment losses from derivative instruments, higher other operating costs and expenses, lower other investment income and higher interest credited to policyholders’ account balances partially offset by lower policyholders’ benefits (including decreases in GMDB/GMIB/GWBL/GMAB reserves in the first six months of 2013 as compared to increases for the comparable prior period), higher universal life and investment-type product policy fee income and lower commission expenses. The Investment Management segment’s earnings from continuing operations were $262 million in the first six months of 2013, an increase of $83 million from earnings of $179 million in the first six months of 2012, principally due to higher investment advisory and service fees, higher distribution revenues, and lower rent expense partially offset by higher distribution related payments and higher compensation and benefit expenses.

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Total revenues were $929 million in the first six months of 2013, a decrease of $4.6 billion from the $5.5 billion reported in the first six months of 2012. The Insurance segment reported a $4.7 billion decrease in its revenues while the Investment Management segment had an increase of $121 million. The decrease of Insurance segment revenues to a negative $508 million in the first six months of 2013 as compared to a positive $4.2 billion in the first six months of 2012 was principally due to a decrease in the fair value of the reinsurance contract asset accounted for as derivatives of $2.3 billion as compared to an increase of $834 million in the first six months of 2012, $1.6 billion of investment loss from derivatives from the reported investment loss of $28 million in the first six months of 2012 partially offset by $101 million higher policy fee income. The Investment Management segment’s $1.4 billion in revenues in the first six months of 2013 as compared to $1.3 billion in the first six months of 2012 primarily was due to a $54 million increase in investment advisory and services fees, a $52 million increase in distribution revenues and a $16 million increase in net investment income.

Total benefits and expenses were $4.0 billion in the first six months of 2013, a decrease of $261 million from the $4.3 billion total for the first six months of 2012. The Insurance segment’s total benefits and expenses were $2.8 billion, a decrease of $301 million from the first six months of 2012’s total of $3.1 billion. The Investment Management segment’s total expenses for the first six months of 2013 were $1.2 billion, $38 million higher than the $1.1 billion in expenses in the first six months of 2012. The Insurance segment’s decrease was principally due to a $420 million decrease in policyholders’ benefits, lower DAC amortization ($159 million in the first six months of 2013 as compared to DAC amortization of $328 million in the first six months of 2012) and a $78 million decrease in commissions partially offset by a $224 million increase in other operating costs and expenses, a $66 million increase in interest credited to policyholders’ account balances and $54 million lower DAC capitalization. The increase in expenses for the Investment Management segment was principally due to $55 million higher distribution related payments and $31 million higher compensation and benefits expenses partially offset by $35 million lower rent expense and $14 million lower real estate charges.

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RESULTS OF OPERATIONS BY SEGMENT

Insurance.

Insurance Segment

Results of Operations

	Three Months Ended June  30,						Six Months Ended June  30,
	2013			2012			2013			2012
	(In Millions)
Universal life and investment-type product policy fee income	$	853		$	821		$	1,750		$	1,649
Premiums		128			116			254			259
Net investment income (loss):
Investment income (loss) from derivative instruments		(747	)		1,510			(1,647	)		(28	)
Other investment income (loss)		502			551			1,036			1,122
Total net investment income (loss)		(245	)		2,061			(611	)		1,094
Investment gains (losses), net:
Total other-than-temporary impairment losses		(50	)		(50	)		(64	)		(53	)
Portion of losses recognized in other comprehensive income		15			1			15			1
Net impairment losses recognized		(35	)		(49	)		(49	)		(52	)
Other investment gains (losses), net		13			(8	)		15			(13	)
Total investment gains (losses), net		(22	)		(57	)		(34	)		(65	)
Commissions, fees and other income		241			218			470			438
Increase (decrease) in the fair value of the reinsurance contract asset		(1,149	)		2,677			(2,337	)		834
Total revenues		(194	)		5,836			(508	)		4,209
Policyholders’ benefits		539			1,250			967			1,387
Interest credited to policyholders’ account balances		251			250			632			566
Compensation and benefits		136			113			254			234
Commissions		292			320			573			651
Amortization of deferred policy acquisition costs		120			245			159			328
Capitalization of deferred policy acquisition costs		(162	)		(192	)		(321	)		(375	)
Rent expense		9			7			20			17
Interest expense		25			26			52			53
All other operating costs and expenses		248			70			490			266
Total benefits and other deductions		1,458			2,089			2,826			3,127
Earnings (Loss) from Continuing Operations, before Income Taxes	$	(1,652	)	$	3,747		$	(3,334	)	$	1,082

Three Months Ended June 30, 2013 Compared to Three Months Ended June 30, 2012

Revenues

In second quarter 2013, the Insurance segment’s revenues decreased $6.0 billion to a negative $194 million from a positive $5.8 billion in second quarter 2012. The decrease was principally due to a decrease in the fair value of reinsurance contracts accounted for as derivatives of $1.1 billion as compared to an increase of $2.7 billion in second quarter 2012, $747 million investment loss from derivatives from the reported income of $1.5 billion in second quarter 2012 partially offset by a $35 million decrease in investment losses and $32 million higher Universal life and investment-type product policy fee income.

Universal life and investment-type product policy fee income increased $32 million to $853 million in second quarter 2013 from $821 million in second quarter 2012, primarily due to higher fees earned on higher average Separate Account balances primarily due to market appreciation and higher fees earned on higher General Account policyholder account balances primarily due to increased deposits and transfers from Separate Accounts partially offset by a lower decrease in initial fee liability.

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Premiums totaled $128 million in second quarter 2013, $12 million higher than the $116 million in second quarter 2012. This increase primarily resulted from $11 million higher assumed premiums and $3 million higher term life insurance premiums partially offset by $6 million lower premiums for traditional life policies in the Closed Block.

Net investment income (loss) decreased $2.3 billion to a loss of $245 million in second quarter 2013 from $2.1 billion of income in second quarter 2012. The decrease resulted from the $2.3 billion decrease in investment loss from derivative instruments and by the $49 million decrease in other investment income. The Insurance segment reported $747 million of losses from derivative instruments including those related to hedging programs implemented to mitigate certain risks associated with the GMDB/GMIB/GWBL features of certain variable annuity contracts as compared to $1.5 billion of income in second quarter 2012. The second quarter 2013 loss was driven by the impact of higher interest rates and improvements in equity markets. Other investment income decreased $49 million from $551 million in second quarter 2012 primarily due to the decrease of $26 million of investment income from trading securities, a decrease of $11 million from fixed maturities, a decrease of $7 million from short-term investments and a decrease of $8 million from equity income from limited partnerships and equity real estate partially offset by an $8 million increase of investment income from mortgage loans on real estate.

Investment losses, net totaled $22 million in second quarter 2013, as compared to $57 million in second quarter 2012. The Insurance segment’s net losses in second quarter 2013 were primarily due to writedowns on fixed maturities of $35 million from the reported $49 million in the 2012 period, substantially all of which related to CMBS securities. In second quarter 2013 there were $15 million of gains recorded on sales of fixed maturities as compared to losses of $8 million for the comparable prior quarter.

In second quarter 2013, there was a $1.1 billion decrease in the fair value of the GMIB reinsurance contract asset (including the reinsurance contract with AXA Arizona, an affiliate), which is accounted for as derivatives, as compared to the $2.7 billion increase in its fair value in second quarter 2012; both periods’ changes reflected existing capital market conditions. Included in second quarter 2013 was the impact of rising interest rates which decreased the fair value of the reinsurance contract asset by $1.6 billion partially offset by the impact of refining the projection of future GMIB costs which increased the fair value of the reinsurance contract asset by $376 million. Included in the second quarter 2012 increase was the impact of the updated assumptions of partial withdrawal rates partially offset by the impacts of the updated assumptions of GMIB election rates which were lowered for certain ages and the updated projection of future interest rates used to value GMIB claims at the time of GMIB election for a net increase of $375 million. In addition, the impact of the continuing decline in interest rates increased the fair value of the GMIB reinsurance contract asset by $1.9 billion.

Benefits and Other Deductions

In second quarter 2013, total benefits and other deductions decreased $631 million to $1.5 billion from $2.1 billion in second quarter 2012 principally due to the Insurance segment’s reported $711 million decrease in policyholders’ benefits, the $125 million decrease in DAC amortization and the $28 million decrease in commission expenses partially offset by the $178 million increase in other operating costs and expenses.

Policyholders’ benefits decreased $711 million to $539 million in second quarter 2013 from $1.3 billion in second quarter 2012. The decrease was primarily due to the $565 million lower increase in the GMDB/GMIB reserves (an increase of $26 million in second quarter 2013 as compared to $591 million in second quarter 2012 due to changes in interest rate and equity markets) and the $37 million decrease in the GWBL and GMAB reserves as compared to an increase of $96 million for the comparable prior year’s quarter. The second quarter 2013 decrease was reduced by $177 million related to refining the projection of future GMIB costs. The second quarter 2012 increase was reduced by the impacts of the expectation of GMIB election rates, which were lowered for certain ages based on emerging experience and the updated projection of future interest rates used to value GMIB claims at the time of GMIB election partially offset by the impact of the updated assumptions of partial withdrawal rates based on emerging experience for a total decrease of $61 million.

Total compensation and benefits increased $23 million to $136 million in second quarter 2013 from $113 million in second quarter 2012. The compensation and benefits increase was principally due to a $14 million increase in employee compensation primarily due to an increase in the short-term compensation accrual and an $8 million increase in share-based compensation expense.

In second quarter 2013, commissions totaled $292 million; a decrease of $28 million from $320 million in second quarter 2012 principally due to decreased first year universal life product sales.

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DAC amortization was $120 million in second quarter 2013, a decrease of $125 million from $245 million of amortization in second quarter 2012. The decrease was primarily due to the absence of additional amortization recorded in second quarter 2012. In second quarter 2012, interest rate reductions and updated expectations of policyholder behavior and model assumptions and refinements significantly increased projected GMDB and GMIB costs, which under the U.S. GAAP GMDB and GMIB reserving methodology is only partially reflected in the current reserve balance. The resulting reduction in projected estimated gross profits resulted in $246 million of additional amortization to reduce the DAC related to variable annuity products, as the DAC would have been in excess of the present value of estimated future profits. In addition, in second quarter 2013 DAC amortization increased when compared to second quarter 2012 due to a less favorable change in expected future margins on variable and interest-sensitive life products (partially offset in the initial fee liability).

After the initial establishment of reserves, premium deficiency and loss recognition tests are performed each period end using best estimate assumptions as of the testing date without provisions for adverse deviation. When the liabilities for future policy benefits plus the present value of expected future gross premiums for the aggregate product group are insufficient to provide for expected future policy benefits and expenses for that line of business (i.e., reserves net of any DAC asset), DAC would first be written off and thereafter, if required, a premium deficiency reserve would be established by a charge to earnings.

In accordance with the guidance for the accounting and reporting by insurance enterprises for certain long-duration contracts and participating contracts and for realized gains and losses from the sale of investments, current and expected future profit margins for products covered by this guidance are examined regularly in determining the amortization of DAC. Due primarily to the significant decline in Separate Accounts balances during 2008 and a change in the estimate of average gross short-term annual return on Separate Accounts balances to 9.0%, future estimated gross profits at December 31, 2008 for certain issue years for the Accumulator^® products were expected to be negative as the increases in the fair values of derivatives used to hedge certain risks related to these products would be recognized in current earnings while the related reserves do not fully and immediately reflect the impact of equity and interest market fluctuations. As required under U.S. GAAP, for those issue years with future estimated negative gross profits, the DAC amortization method was permanently changed in fourth quarter 2008 from one based on estimated gross profits to one based on estimated assessments for the Accumulator^® products, subject to loss recognition testing. In second quarter 2011, the DAC amortization method was changed to one based on estimated assessments for all issue years for the Accumulator^® products due to continued volatility of margins and the continued emergence of periods of negative margins.

DAC associated with universal life products and investment-type products, other than Accumulator^® products is amortized over the expected total life of the contract group as a constant percentage of estimated gross profits arising principally from investment results, Separate Account fees, mortality and expense margins and surrender charges based on historical and anticipated future experience, updated at the end of each accounting period. When estimated gross profits are expected to be negative for multiple years of a contract life, DAC is amortized using the present value of estimated assessments. The effect on the amortization of DAC of revisions to estimated gross profits or assessments is reflected in earnings (loss) in the period such estimated gross profits or assessments are revised. A decrease in expected gross profits or assessments would accelerate DAC amortization. Conversely, an increase in expected gross profits or assessments would slow DAC amortization. The effect on the DAC assets that would result from realization of unrealized gains (losses) is recognized with an offset to AOCI in consolidated equity as of the balance sheet date.

A significant assumption in the amortization of DAC on variable annuities and, to a lesser extent, on variable and interest-sensitive life insurance relates to projected future Separate Account performance. Management sets estimated future gross profit or assessment assumptions related to Separate Account performance using a long-term view of expected average market returns by applying a reversion to the mean approach, a commonly used industry practice. This future return approach influences the projection of fees earned, as well as other sources of estimated gross profits. Returns that are higher than expectations for a given period produce higher than expected account balances, increase the fees earned resulting in higher expected future gross profits and lower DAC amortization for the period. The opposite occurs when returns are lower than expected.

In applying this approach to develop estimates of future returns, it is assumed that the market will return to an average gross long-term return estimate, developed with reference to historical long-term equity market performance. Currently, the average gross long-term return estimate is measured from December 31, 2008. Management has set limitations as to maximum and minimum future rate of return assumptions, as well as a limitation on the duration of use of these maximum or minimum rates of return. At June 30, 2013, the average gross short-term and long-term annual return estimate on variable and interest-sensitive life insurance and variable annuities was 9.0% (6.7% net of product weighted average Separate Account fees), and the gross maximum and minimum short-term annual rate of return limitations were 15.0% (12.7% net of product weighted average Separate Account fees) and 0.0% (-2.4% net of product weighted average Separate Account fees), respectively. The maximum duration over which these rate limitations may be applied is 5 years. This approach will continue to be applied in future periods. These assumptions of long-term growth are subject to assessment of the reasonableness of resulting estimates of future return assumptions.

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If actual market returns continue at levels that would result in assuming future market returns of 15.0% for more than 5 years in order to reach the average gross long-term return estimate, the application of the 5 year maximum duration limitation would result in an acceleration of DAC amortization. Conversely, actual market returns resulting in assumed future market returns of 0.0% for more than 5 years would result in a required deceleration of DAC amortization. At June 30, 2013, current projections of future average gross market returns assume a 0.0% annualized return for the next four quarters, which is within the maximum and minimum limitations, grading to a reversion to the mean of 9.0% in ten quarters. To demonstrate the sensitivity of variable annuity reserves and DAC amortization from a change in the assumption for future Separate Account rate of return see “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Critical Accounting Estimates – Sensitivity of Future Rate of Return Assumptions on GMDB/GMIB Reserves and Sensitivity of DAC to Changes in Future Rate of Return Assumptions” in the Company’s 2012 Form 10-K.

Other significant assumptions underlying gross profit estimates for UL products and investment type products relate to contract persistency and General Account investment spread.

DAC capitalization totaled $162 million in second quarter 2013, a decrease of $30 million from the $192 million reported in second quarter 2012. The decrease was primarily due to a $36 million decrease in first year commissions, partially offset by a $6 million increase in deferrable operating expenses.

Other operating costs and expenses totaled $248 million in second quarter 2013, an increase of $178 million from the $70 million reported in second quarter 2012. The increase of $178 million is primarily related to a $129 million increase in the amortization of reinsurance costs related to the deferred asset recorded from the Company’s reinsurance transaction with AXA Arizona. In addition, in second quarter 2013, as a result of the Company’s significantly reduced occupancy in its 1290 Avenue of Americas New York, NY headquarters, the Company recorded a non-cash pre-tax charge of $52 million related to the ongoing contractual operating lease obligations for this space and the Company’s estimate of current market rental rates, as well as the write-off of leasehold improvements, furniture and equipment related to the vacated space.

Six Months Ended June 30, 2013 Compared to Six Months Ended June 30, 2012

Revenues

In the first six months of 2013, the Insurance segment’s revenues decreased $4.7 billion to a negative $508 million from a positive $4.2 billion in the first six months of 2012. The decrease was principally due to a decrease in the fair value of reinsurance contracts accounted for as derivatives of $2.3 billion from the reported increase of $834 million in the first six months of 2012, $1.6 billion investment loss from derivatives as compared to a loss of $28 million in the first six months of 2012 and $86 million lower other investment income partially offset by $101 million higher Universal life and investment-type product policy fee income.

Universal life and investment-type product policy fee income increased $101 million to $1.8 billion in the first six months of 2013 from $1.6 billion in the first six months of 2012, due to higher fees earned on higher average Separate Account balances primarily due to market appreciation and higher fees earned on higher General Account policyholder account balances due to increased deposits and transfers from Separate Accounts and a higher decrease in the initial fee liability. The higher release of the liability in the first six months of 2013 was driven by an updated premium projection which resulted in higher expected future deferred loads.

Premiums totaled $254 million in the first six months of 2013, $5 million lower than the $259 million in the first six months of 2012. This decrease primarily resulted from $12 million lower premiums for traditional life policies in the Closed Block partially offset by $5 million higher term life insurance premiums.

Net investment income (loss) decreased $1.7 billion to a loss of $611 million in the first six months of 2013 from $1.1 billion of income in the first six months of 2012. The decrease resulted from the $1.6 billion decrease in investment loss from derivative instruments and by the $86 million decrease in other investment income. The Insurance segment reported $1.6 billion of losses from derivative instruments including those related to hedging programs implemented to mitigate certain risks associated with the GMDB/GMIB/GWBL features of certain variable annuity contracts as compared to a loss of $28 million in the first six months of 2012. The first six months of 2013 losses were driven by higher interest rates as compared to a lower interest rate environment in the comparable 2012 period. In addition, both periods losses were driven by the improvements in equity markets. Other investment income decreased $86 million to $1.1 billion in the first six months of 2013 primarily due to the decrease of $40 million of investment income from fixed maturities, a decrease of $21 million of

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investment income related to trading securities, a $17 million decrease of equity income from limited partnerships, a $9 million decrease of investment income related to equity real estate and a $10 million decrease of investment income related to short-term investments and policy loans partially offset by a $16 million increase of investment income from mortgage loans on real estate.

Investment losses, net totaled $34 million in the first six months of 2013 from the reported $65 million in the first six months of 2012. The Insurance segment’s net losses in the first six months of 2013 were primarily due to writedowns on fixed maturities of $50 million as compared to $52 million in the 2012 period, substantially all of which related to CMBS securities. In the first six months of 2013 there were $18 million of gains recorded on sales of fixed maturities as compared to losses of $6 million for the comparable 2012 period. In addition, for the first six months of 2013, $4 million of additional valuation allowances offset by $2 million of gains from sales and maturities of mortgage loans on real estate were recorded as compared to $23 million of additional valuation allowances and $15 million of gains from sales and maturities for the comparable 2012 period.

In the first six months of 2013, there was a $2.3 billion decrease in the fair value of the GMIB reinsurance contract asset (including the reinsurance contract with AXA Arizona, an affiliate), which is accounted for as derivatives, as compared to an $834 million increase in their fair value in the first six months of 2012; both periods’ changes reflected existing capital market conditions. Included in the first six months of 2013 was the impact of rising interest rates which decreased the fair value of the reinsurance contract asset by $2.0 billion and improvements in the equity markets which decreased the fair value of the reinsurance contract asset by $726 million partially offset by the impact of refining the projection of future GMIB costs which increased the fair value of the reinsurance contract asset by $376 million. The increase in the first six months of 2012 included the impact of the updated assumptions of partial withdrawal rates partially offset by the impacts of the updated assumptions of GMIB election rates which were lowered for certain ages and the updated projection of future interest rates used to value GMIB claims at the time of GMIB election for a total increase of $375 million. Additionally, the impact of the continuing decline in interest rates during the first six months of 2012 increased the fair value of the GMIB reinsurance contract asset by $801 million.

Benefits and Other Deductions

In the first six months of 2013, total benefits and other deductions decreased $301 million to $2.8 billion from $3.1 billion in the first six months of 2012 principally due to the Insurance segment’s reported $420 million decrease in policyholders’ benefits, the $169 million decrease in DAC amortization and by the $78 million decrease in commission expenses partially offset by the $224 million increase in other operating costs and expenses, the $66 million increase in interest credited to policyholders’ account balances, and the $54 million decrease in DAC capitalization.

Policyholders’ benefits decreased $420 million to $967 million in the first six months of 2013 from $1.4 billion in the first six months of 2012. The decrease was primarily due to the $80 million decrease in the GMDB/GMIB reserves in the first six months of 2013 from the reported increase of $212 million in the first six months of 2012 due to changes in the interest rate and equity markets and the $83 million decrease in the GWBL and GMAB reserves as compared to an increase of $64 million for the comparable prior period. Partially offsetting these decreases were $75 million higher death benefits for interest sensitive life products ($307 million in the first six months of 2013 as compared to $232 million in the first six months of 2012) and a $56 million premium deficiency reserve recorded for the major medical business in the first six months of 2013 due to lowered expectations of future cash outflows. The first six months of 2013 decrease was reduced by $177 million related to refining the projection of future GMIB costs. The first six months of 2012 increase in the GMDB/GMIB reserves was reduced by the impacts of the expectation of GMIB election rates, which were lowered for certain ages based on emerging experience and the updated projection of future interest rates used to value GMIB claims at the time of GMIB election partially offset by the impact of the updated assumptions of partial withdrawal rates based on emerging experience for a total decrease of $61 million.

In the first six months of 2013, interest credited to policyholders’ account balances totaled $632 million, an increase of $66 million from the $566 million reported in the first six months of 2012 primarily due to higher average policyholders’ account balances partially offset by lower crediting rates.

Total compensation and benefits increased $20 million to $254 million in the first six months of 2013 from $234 million in the first six months of 2012. The compensation and benefits increase was principally due to a $17 million increase in employee compensation primarily due to an increase in the short-term compensation accrual and a $3 million increase in share-based compensation expense.

In the first six months of 2013, commissions totaled $573 million; a decrease of $78 million from $651 million in the first six months of 2012 principally due to decreased first year universal life product sales.

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DAC amortization was $159 million in the first six months of 2013, a decrease of $169 million from $328 million of amortization in the first six months of 2012. The decrease was primarily due to the absence of additional amortization recorded in second quarter 2012. In the first six months of 2012, interest rate reductions and updated expectations of policyholder behavior and model assumptions and refinements significantly increased projected GMDB and GMIB costs, which under the U.S. GAAP GMDB and GMIB reserving methodology is only partially reflected in the current reserve balance. The resulting reduction in projected estimated gross profits resulted in $246 million of additional amortization to reduce the DAC related to variable annuity products, as the DAC would have been in excess of the present value of estimated future profits. In addition, in second quarter 2013 DAC amortization increased when compared to second quarter 2012 due to a less favorable change in expected future margins on variable and interest-sensitive life products (partially offset in the initial fee liability).

DAC capitalization totaled $321 million in the first six months of 2013, a decrease of $54 million from the $375 million reported in the first six months of 2012. The decrease was primarily due to a $67 million decrease in first year commissions, partially offset by a $13 million increase in deferrable operating expenses.

Other operating costs and expenses totaled $490 million in the first six months of 2013, an increase of $224 million from the $266 million reported in the first six months of 2012. The increase of $224 million is primarily related to a $157 million increase in the amortization of reinsurance costs related to the deferred asset recorded from the Company’s reinsurance transaction with AXA Arizona. In addition, in the first six months of 2013, as a result of the Company’s significantly reduced occupancy in its 1290 Avenue of Americas New York, NY headquarters, the Company recorded a non-cash pre-tax charge of $52 million related to the ongoing contractual operating lease obligations for this space and the Company’s estimate of current market rental rates, as well as the write-off of leasehold improvements, furniture and equipment related to the vacated space.

Premiums and Deposits.

The market for annuity and life insurance products of the types issued by the Company continues to be dynamic. Among other things, 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.

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The following table lists sales for major insurance product lines and mutual funds for the second quarter and first six months of 2013 and 2012. Premiums and deposits are presented net of internal conversions and are presented gross of reinsurance ceded.

Premiums and Deposits

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
	(In Millions)
Retail:
Annuities
First year	$	858	$	959	$	1,697	$	1,792
Renewal		560		573		1,086		1,286
		1,418		1,532		2,783		3,078
Life(1)
First year		42		61		86		120
Renewal		430		437		877		883
		472		498		963		1,003
Other(2)
First year		3		3		6		6
Renewal		62		53		109		118
		65		56		115		124
Total retail		1,955		2,086		3,861		4,205
Wholesale:
Annuities
First year		1,016		714		1,891		1,283
Renewal		36		32		83		282
		1,052		746		1,974		1,565
Life(1)
First year		18		56		36		104
Renewal		150		135		297		269
		168		191		333		373
Total wholesale		1,220		937		2,307		1,938
Total Premiums and Deposits	$	3,175	$	3,023	$	6,168	$	6,143

⁽¹⁾  Includes variable, interest-sensitive and traditional life products.

⁽²⁾  Includes reinsurance assumed and health insurance.

Total premiums and deposits for insurance and annuity products for the second quarter of 2013 were $3.2 billion, a $152 million increase from $3.0 billion in the second quarter of 2012 while total first year premiums and deposits increased $144 million to $1.9 billion in the second quarter of 2013 from $1.8 billion in the second quarter of 2012. The annuity line’s first year premiums and deposits increased $201 million to $1.9 billion principally due to the $302 million increase in variable annuities’ sales in the wholesale channel partially offset by a decrease of $99 million in the retail channel. First year premiums and deposits for the life insurance products decreased $57 million, primarily due to the $36 million and $19 million decreases in sales of UL insurance products in the wholesale and retail channels, respectively. The $57 million decrease in sales of life insurance products primarily reflects the impact of the Index UL insurance product being issued effective third quarter 2012 through another life insurance subsidiary of AXA Financial.

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Total premiums and deposits for insurance and annuity products for the first six months of 2013 were $6.2 billion, a $25 million increase from $6.1 billion in the first six months of 2012 while total first year premiums and deposits increased $411 million to $3.7 billion in the first six months of 2013 from $3.3 billion in the first six months of 2012. The annuity line’s first year premiums and deposits increased $513 million to $3.6 billion principally due to the $608 million increase in variable annuity sales in the wholesale channel partially offset by a $91 million decrease in the retail channel. First year premiums and deposits for the life insurance products decreased $102 million, primarily due to the $65 million and $35 million decreases in sales of UL insurance products in the wholesale and retail channels, respectively. The $102 million decrease in sales of life insurance products primarily reflects the impact of the Index UL insurance product being issued effective third quarter 2012 through another life insurance subsidiary of AXA Financial.

Renewal premium and deposits for annuity products for the first six months of 2013 were $2.5 billion, a $386 million decrease from $2.8 billion in the first six months of 2012. In 2012, the Company continues to proactively manage the risks associated with its in-force business, particularly variable annuities with guarantee features. For example, in 2012, the Company suspended the acceptance of contributions into certain Accumulator^® contracts issued prior to June 2009. The Company also took steps to limit and/or suspend the acceptance of contributions to other annuity products. In 2012, the Company lowered its renewal premium assumptions on certain series of UL products sold in 2011 based on emerging experience which will result in lower future policy fee income.

Surrenders and Withdrawals.

The following table presents surrender and withdrawal amounts and rates for major insurance product lines. Annuity surrenders and withdrawals are presented net of internal replacements.

Surrenders and Withdrawals

	Three Months Ended June 30,				Six Months Ended June 30,				Rates(1) Six Months Ended June  30,
	2013		2012		2013		2012		2013			2012
	(Dollars in Millions)
Annuities	$	1,740	$	1,389	$	3,340	$	2,916		6.4	%		6.1	%
Variable and interest-sensitive life		197		191		444		470		4.5	%		4.9	%
Traditional life		56		56		113		126		2.9	%		3.2	%
Total	$	1,993	$	1,636	$	3,897	$	3,512

⁽¹⁾  Surrender rates are based on the average surrenderable future policy benefits and/or policyholders’ account balances for the related policies and contracts in force during each year.

Surrenders and withdrawals increased $357 million, from $1.6 billion in the second quarter of 2012 to $2.0 billion for the second quarter of 2013. There was an increase of $351 million and $10 million in individual annuities and variable and interest sensitive life surrenders and withdrawals.

Surrenders and withdrawals increased $385 million, from $3.5 billion in the first six months of 2012 to $3.9 billion for the first six months of 2013. There was an increase of $424 million in individual annuities surrenders and withdrawals with decreases of $22 million and $13 million, respectively, in variable and interest sensitive and traditional life products. The annualized annuities surrender rate increased to 6.4% in the first six months of 2013 from 6.1% in the first six months of 2012. In 2012, expectations of partial withdrawal and long term lapse rates for variable annuities with GMDB and GMIB guarantees were updated based upon emerging experience. If surrender rates and/or partial withdrawal rates and amounts adversely differ from our current assumptions, the expected claims costs from minimum guarantees will increase, possibly materially, which could be partially offset by increased product policy fee income. The individual life insurance products’ annualized surrender rate decreased to 4.1% in the first six months of 2013 from 4.4% in the first six months of 2012. The first six months of 2012 surrender rate included the impact of the surrender of a single large company owned life insurance (“COLI”) policy.

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Investment Management.

The table that follows presents the operating results of the Investment Management segment, consisting principally of AllianceBernstein’s operations, for the second quarter and first six months of 2013 and 2012.

Investment Management - Results of Operations

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Revenues:
Investment advisory and services fees(1)	$	459		$	423		$	903		$	849
Bernstein research services		114			103			224			209
Distribution revenues		121			97			240			188
Other revenues(1)		28			26			54			50
Commissions, fees and other income		722			649			1,421			1,296
Investment income (loss)		28			(6	)		44			28
Less: interest expense to finance trading activities		(1	)		(1	)		(2	)		(2	)
Net investment income (loss)		27			(7	)		42			26
Investment gains (losses), net		(12	)		4			(16	)		4
Total revenues		737			646			1,447			1,326
Expenses:
Compensation and benefits		313			281			618			587
Distribution related payments		112			86			221			166
Amortization of deferred sales commissions		10			10			21			18
Real estate charge		1			7			2			16
Interest expense		—			1			1			1
Rent expense		33			49			65			100
Amortization of other intangible assets, net		6			6			12			12
Other operating costs and expenses		126			126			245			247
Total expenses		601			566			1,185			1,147
Earnings (Loss) from Operations before Income Taxes	$	136		$	80		$	262		$	179

⁽¹⁾  Included fees earned by AllianceBernstein totaling $9 million, $18 million, $9 million and $17 million in the second quarter and first six months of 2013 and 2012, respectively, for services provided to the Company.

Three Months Ended June 30, 2013 Compared to Three Months Ended June 30, 2012

Revenues

The Investment Management segment’s pre-tax earnings from continuing operations for the second quarter of 2013 were $136 million, an increase of $56 million from pre-tax earnings of $80 million in the second quarter of 2012.

Revenues totaled $737 million in the second quarter of 2013, an increase of $91 million from $646 million in the second quarter of 2012, primarily due to a $36 million increase in investment advisory and services fees, $24 million increase in distribution revenues and by a $34 million increase in net investment income.

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Investment advisory and services fees include base fees and performance-based fees. In the second quarter of 2013, investment advisory and services fees totaled $459 million, an increase of $36 million from the $423 million in the second quarter of 2012. The $34 million increase in base investment advisory and services fees was primarily due to the increase in average assets under management. The increase in base fees was less than the increase in average AUM primarily due to the continued shift in product mix from actively managed equity services to actively managed fixed income services, which generally have lower fees as compared to actively managed equity services. Performance-based fees increased by $2 million. Retail base and performance fees increased $45 million. The increase in Retail base fees reflects higher non-U.S. fixed income mutual funds which generally have higher fees as compared to U.S Retail products and services. Institutional investment and advisory base and performance fees decreased $6 million and Private client fees decreased $3 million.

Distribution revenues increased $24 million in the second quarter of 2013 as compared to the second quarter of 2012 as the average AUM of certain of AllianceBernstein company-sponsored mutual funds increased. AllianceBernstein receives distribution service fees from these funds as partial reimbursement of the distribution expenses incurred.

Bernstein research revenues increased $11 million in the second quarter of 2013 as compared to second quarter of 2012 primarily due to growth in Europe and Asia.

Net investment income (loss) consisted principally of realized and unrealized gains (losses) on trading investments, income (losses) from derivative instruments and dividend and interest income, offset by interest expense related to interest accrued on cash balances on customers’ brokerage accounts. The $34 million increase in net investment income (loss) to $27 million of income in the second quarter of 2013 as compared to a loss of $7 million in the second quarter of 2012 was primarily due to $24 million higher investment income from mark-to-market income on investments held by AllianceBernstein’s consolidated private equity fund ($18 million of investment income in the second quarter of 2013 as compared to $6 million of investment loss in the second quarter of 2012) and $9 million higher investment income from deferred compensation related investments ($1 million of investment income in second quarter 2013 as compared to $8 million of investment loss in second quarter of 2012).

Investment gains (losses) were a $12 million loss in the second quarter 2013 as compared to a $4 million gain in second quarter 2012. The decrease of $16 million of investment gains (losses) was related to losses on investments held by AllianceBernstein’s consolidated private equity fund.

Expenses

The Investment Management segment’s total expenses were $601 million in the second quarter of 2013, an increase of $35 million from the $566 million in the second quarter of 2012 as higher compensation and benefit expenses and distribution related payments were partially offset by lower rent expense and lower real estate charges.

For the second quarter of 2013, employee compensation and benefits expenses for the segment were $313 million as compared to $281 million in the second quarter of 2012. The $32 million increase was primarily attributable to $27 million higher short-term and long-term deferred incentive compensation and $7 million higher commission expense partially offset by $2 million decrease in base compensation due to lower headcount.

The distribution related payments increased $26 million to $112 million in the second quarter of 2013 from $86 million in the second quarter of 2012 primarily as a result of higher average Retail Services assets under management.

Rent expense decreased $16 million to $33 million in the second quarter of 2013 as compared to $49 million in the second quarter of 2012. The decrease reflects the impact of AllianceBernstein’s relocation and consolidation of office space.

Real estate charges decreased $6 million to $1 million in second quarter 2013 as compared to $7 million in second quarter 2012.

Six Months Ended June 30, 2013 Compared to Six Months Ended June 30, 2012

Revenues

The Investment Management segment’s pre-tax earnings from continuing operations for the first six months of 2013 were $262 million, an increase of $83 million from pre-tax earnings of $179 million in the first six months of 2012.

Revenues totaled $1.4 billion in the first six months of 2013, an increase of $121 million from $1.3 billion in the first six months of 2012, primarily due to a $54 million increase in investment advisory and services fees, a $52 million increase in distribution revenues and by a $16 million increase in net investment income partially offset by a $20 million decrease in investment gains (losses), net.

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Investment advisory and services fees include base fees and performance-based fees. In the first six months of 2013, investment advisory and services fees totaled $903 million, an increase of $54 million from the $849 million in the first six months of 2012. The $53 million increase in base investment advisory and services fees was primarily due to the increase in average assets under management. The increase in base fees was less than the increase in average AUM primarily due to the continued shift in product mix from actively managed equity services to actively managed fixed income services, which generally have lower fees as compared to actively managed equity services. Performance-based fees increased by $1 million. Retail base and performance fees increased $88 million. The increase in Retail base fees reflects higher non-U.S. fixed income mutual funds which generally have higher fees as compared to U.S Retail products and services. Institutional investment and advisory base and performance fees decreased $23 million and Private client fees decreased $11 million.

Distribution revenues increased $52 million in the first six months of 2013 as compared to prior year as the average AUM of certain of AllianceBernstein company-sponsored mutual funds increased. AllianceBernstein receives distribution service fees from these funds as partial reimbursement of the distribution expenses incurred.

Bernstein research revenues increased $15 million in the first six months of 2013 as compared to prior year primarily due to growth in Europe and Asia.

Net investment income (loss) consisted principally of realized and unrealized gains (losses) on trading investments, income (losses) from derivative instruments and dividend and interest income, offset by interest expense related to interest accrued on cash balances on customers’ brokerage accounts. The $16 million increase in net investment income to $42 million in the first six months of 2013 as compared to $26 million in the first six months of 2012 was primarily due to $17 million higher investment income from mark-to-market income on investments held by AllianceBernstein’s consolidated private equity fund ($18 million of investment income in the first six months of 2013 as compared to $1 million of investment income in the first six months of 2012) and by an increase of $15 million of investment income from derivative instruments ($1 million of income in the first six months of 2013 as compared to $14 million of losses in the first six months of 2012) partially offset by $15 million lower investment income on seed money investments and unrealized gains on equity trading securities ($9 million of income in the first six months of 2013 as compared to $24 million in the first six months of 2012).

Investment gains (losses) were a $16 million loss in the first six months of 2013 as compared to a $4 million gain in the first six months of 2012. The decrease of $20 million of investment gains (losses) was related to losses on investments held by AllianceBernstein’s consolidated private equity fund.

Expenses

The Investment Management segment’s total expenses were $1.2 billion in the first six months of 2013, an increase of $38 million from the $1.1 billion in the first six months of 2012 as higher distribution related payments and compensation and benefit expenses were partially offset by lower rent expense and lower other operating costs and expenses.

For the first six months of 2013, employee compensation and benefits expenses for the segment were $618 million as compared to $587 million in the first six months of 2012. The $31 million increase was primarily attributable to $45 million higher short-term and long-term deferred incentive compensation and $9 million higher commission expense partially offset by a $23 million decrease in base compensation due to lower headcount.

The distribution related payments increased $55 million to $221 million in the first six months of 2013 from $166 million in the first six months of 2012 primarily as a result of higher average Retail Services assets under management.

Rent expense decreased $35 million to $65 million in the first six months of 2013 as compared to $100 million in the first six months of 2012. The decrease reflects the impact of AllianceBernstein’s relocation and consolidation of office space.

The $16 million decrease in other operating costs and expenses and real estate charges to $247 million for the first six months of 2013 as compared to $263 million in the first six months of 2012 was primarily due to a $14 million lower real estate charge related to review of real estate requirements.

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FEES AND ASSETS UNDER MANAGEMENT

A breakdown of fees and AUM follows:

Fees and Assets Under Management

	Three Months Ended June 30,				At or For the Six Months Ended June 30,
	2013		2012		2013		2012
	(In Millions)
FEES
Third party	$	445	$	411	$	875	$	823
General Account and other		8		9		16		18
Insurance Group Separate Accounts		6		6		12		12
Total Fees	$	459	$	426	$	903	$	853
ASSETS UNDER MANAGEMENT
Assets by Manager
AllianceBernstein
Third party					$	365,701	$	343,988
General Account and other						40,878		40,979
Insurance Group Separate Accounts						28,021		22,310
Total AllianceBernstein						434,600		407,277
Insurance Group
General Account and other(2)						11,072		19,469
Insurance Group Separate Accounts						73,615		69,793
Total Insurance Group						84,687		89,262
Total by Account:
Third party(1)						365,701		343,988
General Account and other(2)						51,950		60,448
Insurance Group Separate Accounts						101,636		92,103
Total Assets Under Management					$	519,287	$	496,539

⁽¹⁾  Includes $47.3 billion and $41.8 billion of assets managed on behalf of AXA affiliates at June 30, 2013 and 2012, respectively. Third party AUM includes 100% of the estimated fair value of real estate owned by joint ventures in which third party clients own an interest.

⁽²⁾  Includes invested assets of the Company not managed by AllianceBernstein, principally cash and short-term investments and policy loans, totaling approximately $6.1 billion and $14.4 billion at June 30, 2013 and 2012, respectively, as well as mortgages and equity real estate totaling $5.0 billion and $5.1 billion at June 30, 2013 and 2012, respectively.

Fees for assets under management increased 6.36% the first six months of 2013 from the comparable period, in line with the change in average assets under management for third parties and the Separate Accounts.

Total assets under management increased $22.7 billion. The $31.2 billion increase in Third Party and Insurance Group Separate Account assets under management at June 30, 2013 as compared to June 30, 2012 resulted from increases in EQAT’s, VIP’s and other Separate Accounts’ AUM due to market appreciation and net inflows at AllianceBernstein partially offset by a decrease of $8.5 billion in General Account and other assets under management.

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AllianceBernstein assets under management at June 30, 2013 totaled $434.6 billion as compared to $407.3 billion at June 30, 2012. The $27.3 billion increase was due to $23.8 billion of market appreciation and $3.5 billion of net inflows. In the Retail and Institutional Investment Channel, respectively, there were $60.6 billion and $27.2 billion of inflows offset by $53.2 billion and $24.0 billion of outflows while the gross outflows of $12.2 billion in the Private Client Channels, more than offset the inflows of $5.1 billion. At June 30, 2013, non-US clients accounted for 35% of the total AUM.

AllianceBernstein also classifies its assets under management by its investment services categories: Actively and Passively Managed Equity, Actively and Passively Managed Fixed Income and Other. The $11.2 billion decrease in Actively Managed Equity AUM to $96.2 billion resulted from $39.7 billion in net cash outflows partially offset by $16.2 billion in market appreciation and $12.3 billion in new investments. Passively Managed Equity totaled $44.4 billion, $9.3 billion higher than its June 30, 2012 balance due to $6.5 billion in market appreciation, $4.1 of new investments offset by net outflows of $1.3 billion. There was a $21.2 billion increase in Actively Managed Fixed Income to $249.3 billion at June 30, 2013, as compared to June 30, 2012, due to $69.5 billion of new investments partially offset by $46.1 billion of net long-term outflows and $2.2 billion in market depreciation. AUM in Passively Managed Fixed Income products increased $2.9 billion to $8.2 billion between June 30, 2012 and June 30, 2013 as $2.3 billion in new investments and $900 million in net inflows are partially offset by $300 million in market depreciation. The $5.1 billion increase in Other AUM to $36.5 billion resulted from $4.3 billion in new investments and $3.6 billion in market appreciation being partially offset by $2.8 billion in net outflows. AllianceBernstein may experience periods when the number of new accounts or the amount of AUM increases or decreases significantly. Contributing factors impacting changes in AUM include financial market conditions, AllianceBernstein’s investment performance for clients, the experience of the portfolio manager, the client’s overall relationship with AllianceBernstein, recommendations of consultants, and changes in clients’ investment preferences, risk tolerances and liquidity needs.

Average assets under management totaled $445.9 billion for June 30, 2013 as compared to $411.1 billion for June 30, 2012. The increase for the Retail and Institutional Channel was $26.7 billion and $10.1 billion, respectively, partially offset by $2.0 billion in Private Client. The average AUM increases in Actively Managed Fixed Income, Passively Managed Equity, Other and Passively Managed Fixed Income was $33.5 billion, $9.4 billion, $4.4 billion and $3.0 billion, respectively, offset by a decrease of $15.5 billion in Actively Managed Equity AUM.

Performance of AllianceBernstein’s major equity services was mixed in the first six months of 2013. Over this period, AllianceBernstein’s U.S., International and global value services outperformed their benchmarks, but Emerging Market Value services lagged. AllianceBernstein’s U.S. Large and Small Cap growth services also under-performed their benchmarks in the first six months of 2013.

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GENERAL ACCOUNTS INVESTMENT PORTFOLIO

The General Account Investment Assets (“GAIA”) portfolio consists of a well-diversified portfolio of public and private fixed maturities, commercial and agricultural mortgages and other loans, equity securities and other invested assets.

The General Accounts’ portfolios and investment results support the insurance and annuity liabilities of the Insurance segment’s business operations. The following table reconciles the consolidated balance sheet asset amounts to GAIA.

General Account Investment Assets

June 30, 2013

	Balance Sheet Total			Other(1)			GAIA
	(In Millions)
Balance Sheet Captions:
Fixed maturities, available for sale, at fair value	$	31,300		$	138		$	31,162
Mortgage loans on real estate		5,364			(358	)		5,722
Equity real estate, held for the production of income		4			2			2
Policy Loans		3,450			(101	)		3,551
Other equity investments		1,809			236			1,573
Trading securities		3,219			435			2,784
Other invested assets		1,334			1,017			317
Total investments		46,480			1,369			45,111
Cash and cash equivalents		1,419			655			764
Short-term and long-term debt		(1,371	)		(1,165	)		(206	)
Total	$	46,528		$	859		$	45,669

⁽¹⁾  Assets listed in the “Other” category principally consist of the Company’s loans to affiliates and other miscellaneous assets and other miscellaneous liabilities related to GAIA that are reclassified from various balance sheet lines held in portfolios other than the General Account which are not managed as part of GAIA, including related accrued income or expense, certain reclassifications and intercompany adjustments and, for fixed maturities, the reversal of net unrealized gains (losses). The “Other” category is deducted in arriving at GAIA.

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Investment Results of General Account Investment Assets

The following table summarizes investment results by asset category for the periods indicated.

	Three Months Ended June 30,
	2013						2012
	Yield			Amount			Yield			Amount
	(Dollars in Millions)
Fixed Maturities:
Investment grade
Income (loss)		4.85	%	$	356			4.79	%	$	348
Ending assets					29,156						29,167
Below investment grade
Income		5.04	%		26			6.82	%		40
Ending assets					2,006						2,318
Mortgages:
Income (loss)		5.75	%		81			6.02	%		73
Ending assets					5,722						5,009
Equity Real Estate:
Income (loss)		0.10	%		—			16.90	%		4
Ending assets					2						103
Other Equity Investments:
Income (loss)		11.02	%		42			12.49	%		45
Ending assets					1,573						1,442
Policy Loans:
Income		6.11	%		54			6.13	%		56
Ending assets					3,551						3,630
Cash and Short-term Investments:
Income		0.03	%		—			0.02	%		—
Ending assets					764						1,356
Trading Securities:
Income		(3.34	)%		(21	)		2.43	%		5
Ending assets					2,784						1,033
Other Invested Assets:
Income					25						(16	)
Ending assets					317						122
Total Invested Assets:
Income		4.91	%		563			4.98	%		555
Ending Assets					45,875						44,180
Short-term and long-term debt:
Interest expense and other		7.09			(4	)		6.98			(4	)
Ending assets (liabilities)					(206	)					(209	)
Total:
Investment income		4.90	%		559			4.97	%		551
Less: investment fees		(0.14	)%		(16	)		(0.12	)%		(13	)
Investment Income, Net		4.76	%	$	543			4.85	%	$	538
Ending Net Assets				$	45,669					$	43,971

83

	Six Months Ended June 30,												Year Ended
	2013						2012						December 31, 2012
	Yield			Amount			Yield			Amount
	(Dollars in Millions)
Fixed Maturities:
Investment grade
Income (loss)		4.60	%	$	677			4.80	%	$	700		$	1,381
Ending assets					29,156						29,167			29,526
Below investment grade
Income		6.20	%		65			6.70	%		76			146
Ending assets					2,006						2,318			2,118
Mortgages:
Income (loss)		5.78	%		160			6.05	%		144			296
Ending assets					5,722						5,009			5,427
Equity Real Estate:
Income (loss)		2.82	%		—			17.61	%		9			14
Ending assets					2						103			3
Other Equity Investments:
Income (loss)		12.24	%		90			14.94	%		108			166
Ending assets					1,573						1,442			1,407
Policy Loans:
Income		6.05	%		108			6.12	%		111			226
Ending assets					3,551						3,630			3,624
Cash and Short-term Investments:
Income		0.15	%		1			0.16	%		5			14
Ending assets					764						1,356			1,281
Trading Securities:
Income		(1.40	)%		(16	)		1.19	%		4			15
Ending assets					2,784						1,033			1,839
Other Invested Assets:
Income					173						35			118
Ending assets					317						122			236
Total Invested Assets:
Income		5.44	%		1,258			5.35	%		1,192			2,376
Ending Assets					45,875						44,180			45,461
Debt and Other:
Interest expense and other		7.06	%		(8	)		7.08	%		(8	)		(12	)
Ending assets (liabilities)					(206	)					(209	)		(209	)
Total:
Investment Income		5.42	%		1,250			5.38	%		1,184			2,364
Less: investment fees		(0.13	)%		(29	)		(0.11	)%		(25	)		(49	)
Investment Income, Net		5.29	%	$	1,221			5.27	%	$	1,159		$	2,315
Ending Net Assets				$	45,669					$	43,971		$	45,252

Fixed Maturities

The fixed maturity portfolio consists largely of investment grade corporate debt securities and includes significant amounts of US government and agency obligations. At June 30, 2013, 73.0% of the fixed maturity portfolio was publicly traded. At June 30, 2013, GAIA held commercial mortgage backed securities (“CMBS”) with an amortized cost of $1.1 billion. The General Account had a $7 million exposure to the sovereign debt of Italy and no exposure to the sovereign debt of Greece, Portugal, Spain and the Republic of Ireland.

84

Fixed Maturities by Industry

The General Accounts’ fixed maturities portfolios include publicly-traded and privately-placed corporate debt securities across an array of industry categories.

The following table sets forth these fixed maturities by industry category as of the dates indicated along with their associated gross unrealized gains and losses.

Fixed Maturities by Industry⁽¹⁾

	Amortized   Cost		Gross   Unrealized   Gains		Gross   Unrealized   Losses		Fair Value
	(In Millions)
At June 30, 2013:
Corporate Securities:
Finance	$	6,031	$	354	$	26	$	6,359
Manufacturing		6,042		415		74		6,383
Utilities		3,046		277		22		3,301
Services		3,037		223		22		3,238
Energy		1,337		114		12		1,439
Retail and wholesale		1,057		70		13		1,114
Transportation		700		69		3		766
Other		29		2		—		31
Total corporate securities		21,279		1,524		172		22,631
U.S. government and agency		5,399		120		266		5,253
Commercial mortgage-backed		1,113		14		329		798
Residential mortgage-backed(2)		980		43		—		1,023
Preferred stock		1,044		54		21		1,077
State & municipal		446		49		2		493
Foreign governments		412		50		4		458
Asset-backed securities		146		10		4		152
Total	$	30,819	$	1,864	$	798	$	31,885
At December 31, 2012:
Corporate Securities:
Finance	$	6,364	$	495	$	3	$	6,856
Manufacturing		5,720		676		7		6,389
Utilities		3,212		420		3		3,629
Services		3,028		358		5		3,381
Energy		1,338		198		—		1,536
Retail and wholesale		1,063		113		1		1,175
Transportation		708		96		2		802
Other		30		3		—		33
Total corporate securities		21,463		2,359		21		23,801
U.S. government and agency		4,642		519		1		5,160
Commercial mortgage-backed		1,175		16		291		900
Residential mortgage-backed(2)		1,863		85		—		1,948
Preferred stock		1,089		59		11		1,137
State & municipal		445		85		—		530
Foreign governments		454		76		—		530
Asset-backed securities		175		12		5		182
Total	$	31,306	$	3,211	$	329	$	34,188

⁽¹⁾  Investment data has been classified based on standard industry categorizations for domestic public holdings and similar classifications by industry for all other holdings.

⁽²⁾  Includes publicly traded agency pass-through securities and collateralized mortgage obligations.

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Fixed Maturities Credit Quality

The Securities Valuation Office (“SVO”) of the NAIC, evaluates the investments of insurers for regulatory reporting purposes and assigns fixed maturity securities to one of six categories (“NAIC Designations”). NAIC designations of “1” or “2” include fixed maturities considered investment grade, which include securities rated Baa3 or higher by Moody’s or BBB- or higher by Standard & Poor’s. NAIC Designations of “3” through “6” are referred to as below investment grade, which include securities rated Ba1 or lower by Moody’s and BB+ or lower by Standard & Poor’s. As a result of time lags between the funding of investments, the finalization of legal documents and the completion of the SVO filing process, the fixed maturity portfolio generally includes securities that have not yet been rated by the SVO as of each balance sheet date. Pending receipt of SVO ratings, the categorization of these securities by NAIC designation is based on the expected ratings indicated by internal analysis.

The amortized cost of the General Accounts’ public and private below investment grade fixed maturities totaled $1.5 billion, or 5.0%, of the total fixed maturities at June 30, 2013 and $1.7 billion, or 5.4%, of the total fixed maturities at December 31, 2012. Gross unrealized losses on public and private fixed maturities increased from $329 million at December 31, 2012 to $798 million at June 30, 2013. Below investment grade fixed maturities represented 27.0% and 46.5% of the gross unrealized losses at June 30, 2013 and December 31, 2012, respectively. For public, private and corporate fixed maturity categories, gross unrealized gains were lower and gross unrealized losses were higher in second quarter 2013 than in the prior period.

Public Fixed Maturities Credit Quality. The following table sets forth the General Accounts’ public fixed maturities portfolios by NAIC rating at the dates indicated.

Public Fixed Maturities

NAIC Designation(1)	Rating Agency Equivalent	Amortized   Cost		Gross   Unrealized Gains		Gross Unrealized Losses		Fair Value
		(In Millions)
At June 30, 2013:
1	Aaa, Aa, A	$	14,445	$	845	$	356	$	14,934
2	Baa		7,089		502		71		7,520
	Investment grade		21,534		1,347		427		22,454
3	Ba		731		28		11		748
4	B		124		4		11		117
5	C and lower		94		—		34		60
6	In or near default		5		—		3		2
	Below investment grade		954		32		59		927
Total Public Fixed Maturities		$	22,488	$	1,379	$	486	$	23,381
At December 31, 2012:
1	Aaa, Aa, A	$	14,697	$	1,656	$	53	$	16,300
2	Baa		7,365		801		10		8,156
	Investment grade		22,062		2,457		63		24,456
3	Ba		770		45		6		809
4	B		158		4		4		158
5	C and lower		93		1		19		75
6	In or near default		37		—		12		25
	Below investment grade		1,058		50		41		1,067
Total Public Fixed Maturities		$	23,120	$	2,507	$	104	$	25,523

⁽¹⁾  At June 30, 2013 and 2012, no securities had been categorized based on expected NAIC designation pending receipt of SVO ratings.

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Private Fixed Maturities Credit Quality. The following table sets forth the General Accounts’ private fixed maturities portfolios by NAIC rating at the dates indicated.

Private Fixed Maturities

NAIC Designation(1)	Rating Agency Equivalent	Amortized   Cost		Gross   Unrealized Gains		Gross Unrealized Losses		Fair Value
		(In Millions)
At June 30, 2013:
1	Aaa, Aa, A	$	4,438	$	252	$	122	$	4,568
2	Baa		3,310		221		34		3,497
	Investment grade		7,748		473		156		8,065
3	Ba		246		3		24		225
4	B		134		—		37		97
5	C and lower		69		—		30		39
6	In or near default		134		9		65		78
	Below investment grade		583		12		156		439
Total Private Fixed Maturities		$	8,331	$	485	$	312	$	8,504
At December 31, 2012:
1	Aaa, Aa, A	$	4,303	$	365	$	100	$	4,568
2	Baa		3,235		324		13		3,546
	Investment grade		7,538		689		113		8,114
3	Ba		226		3		23		206
4	B		149		1		15		135
5	C and lower		50		—		15		35
6	In or near default		223		11		59		175
	Below investment grade		648		15		112		551
Total Private Fixed Maturities		$	8,186	$	704	$	225	$	8,665

⁽¹⁾  Includes, as of June 30, 2013 and December 31, 2012, respectively, 21 securities with amortized cost of $175 million (fair value, $174 million) and 12 securities with amortized cost of $109 million (fair value, $109 million) that have been categorized based on expected NAIC designation pending receipt of SVO ratings.

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Corporate Fixed Maturities Credit Quality. The following table sets forth the General Accounts’ public and private holdings of corporate fixed maturities by NAIC rating at the dates indicated.

Corporate Fixed Maturities

NAIC Designation	Rating Agency Equivalent	Amortized   Cost		Gross   Unrealized Gains		Gross Unrealized Losses		Fair Value
		(In Millions)
At June 30, 2013:
1	Aaa, Aa, A	$	10,904	$	811	$	73	$	11,642
2	Baa		9,533		672		83		10,122
	Investment grade		20,437		1,483		156		21,764
3	Ba		709		29		11		727
4	B		117		3		4		116
5	C and lower		13		—		1		12
6	In or near default		3		9		—		12
	Below investment grade		842		41		16		867
Total Corporate Fixed Maturities		$	21,279	$	1,524	$	172	$	22,631
At December 31, 2012:
1	Aaa, Aa, A	$	10,871	$	1,236	$	5	$	12,102
2	Baa		9,764		1,066		4		10,826
	Investment grade		20,635		2,302		9		22,928
3	Ba		699		47		6		740
4	B		114		2		5		111
5	C and lower		12		—		1		11
6	In or near default		3		8		—		11
	Below investment grade		828		57		12		873
Total Corporate Fixed Maturities		$	21,463	$	2,359	$	21	$	23,801

Asset-backed Securities

At June 30, 2013, the amortized cost and fair value of asset backed securities held were $146 million and $152 million, respectively; at December 31, 2012, those amounts were $175 million and $182 million, respectively. At June 30, 2013, the amortized cost and fair value of asset backed securities collateralized by sub-prime mortgages were $14 million and $13 million, respectively. At that same date, the amortized cost and fair value of asset backed securities collateralized by non-sub-prime mortgages were $175 million and $174 million, respectively.

88

Commercial Mortgage-backed Securities

The following table sets forth the amortized cost and fair value of the Insurance Group’s commercial mortgage-backed securities at the dates indicated by credit quality and by year of issuance (vintage).

Commercial Mortgage-Backed Securities

June 30, 2013

	Moody’s Agency Rating										Total		Total December  31, 2012
Vintage	Aaa		Aa		A		Baa		Ba and     Below
	(In Millions)
At amortized cost:
2004 and Prior Years	$	28	$	16	$	—	$	145	$	96	$	285	$	298
2005		34		5		15		335		82		471		477
2006		—		—		—		265		—		265		302
2007		—		—		1		91		—		92		98
Total CMBS	$	62	$	21	$	16	$	836	$	178	$	1,113	$	1,175
At fair value:
2004 and Prior Years	$	29	$	16	$	—	$	108	$	95	$	248	$	273
2005		35		5		16		233		83		372		411
2006		—		—		—		126		—		126		154
2007		—		—		1		51		—		52		62
Total CMBS	$	64	$	21	$	17	$	518	$	178	$	798	$	900

Mortgages

Investment Mix

At June 30, 2013 and December 31, 2012, respectively, approximately 12.5% and 12.1%, respectively, of GAIA were in commercial and agricultural mortgage loans. The table below shows the composition of the commercial and agricultural mortgage loan portfolio, before the loss allowance, as of the dates indicated.

	June 30, 2013		December 31, 2012
	(In Millions)
Commercial mortgage loans	$	3,989	$	3,822
Agricultural mortgage loans		1,795	$	1,658
Total Mortgage Loans	$	5,784	$	5,480

89

The investment strategy for the mortgage loan portfolio emphasizes diversification by property type and geographic location with a primary focus on asset quality. The tables below show the breakdown of the amortized cost of the General Accounts investments in mortgage loans by geographic region and property type as of the dates indicated.

Mortgage Loans by Region and Property Type

	June 30, 2013					December 31, 2012
	Amortized Cost		% of Total			Amortized Cost		% of Total
	(Dollars in Millions)
By Region:
U.S. Regions:
Pacific	$	1,685		29.1	%	$	1,688		30.8	%
Middle Atlantic		1,310		22.7			1,314		24.0
South Atlantic		859		14.9			630		11.5
East North Central		574		9.9			574		10.5
Mountain		406		7.0			397		7.2
West North Central		385		6.6			354		6.5
West South Central		365		6.3			346		6.3
New England		103		1.8			104		1.9
East South Central		97		1.7			73		1.3
Total Mortgage Loans	$	5,784		100.0	%	$	5,480		100.0	%
By Property Type:
Office buildings	$	1,937		33.5	%	$	1,828		33.3	%
Agricultural properties		1,795		31.0			1,658		30.2
Apartment complexes		935		16.2			924		16.9
Industrial buildings		467		8.1			454		8.3
Hospitality		284		4.9			245		4.5
Retail stores		266		4.6			267		4.9
Other		100		1.7			104		1.9
Total Mortgage Loans	$	5,784		100.0	%	$	5,480		100.0	%

At June 30, 2013, the General Account investments in commercial mortgage loans had a weighted average loan-to-value ratio of 67.0% while the agricultural mortgage loans weighted average loan-to-value ratio was 45.0%.

90

The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value.

Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios

June 30, 2013

	Debt Service Coverage Ratio(1)
Loan-to-Value Ratio	Greater   than 2.0x		1.8x to     2.0x		1.5x to     1.8x		1.2x to     1.5x		1.0x to     1.2x		Less      than      1.0x		Total Mortgage Loans
	(In Millions)
0% - 50%	$	471	$	86	$	200	$	755	$	213	$	48	$	1,773
50% - 70%		633		209		775		599		236		48		2,500
70% - 90%		116		—		261		523		132		198		1,230
90% plus		126		—		—		—		107		48		281
Total Commercial and Agricultural Mortgage Loans	$	1,346	$	295	$	1,236	$	1,877	$	688	$	342	$	5,784

⁽¹⁾  The debt service coverage ratio is calculated using actual results from property operations.

The tables below show the breakdown of the commercial and agricultural mortgage loans by year of origination at June 30, 2013.

Mortgage Loans by Year of Origination

	June 30, 2013
Year of Origination	Amortized Cost		% of Total
	(Dollars In Millions)
2013	$	720		12.5	%
2012		1,420		24.5
2011		1,094		18.9
2010		300		5.2
2009		509		8.8
2008 and prior		1,741		30.1
Total Mortgage Loans	$	5,784		100.0	%

91

In October 2011, one of the 2 loans shown in the table below was modified to interest only payments until October 1, 2013, at which time the loan reverts to its normal amortizing payment. In December 2012, the second loan was modified retroactive to the July 1, 2012 payment and was converted to interest only payments through maturity in August 2014. Due to the nature of the modifications, short-term principal amortization relief, the modifications have no material financial impact. The fair market value of the underlying real estate collateral is the primary factor in determining the allowance for credit losses and as such, modifications of loan terms typically have no direct impact on the allowance for credit losses.

Troubled Debt Restructuring - Modifications

June 30, 2013

	Number    of Loans		Outstanding Recorded Investment
			Pre-Modification		Post - Modification
			(In Millions)
Troubled debt restructurings:
Agricultural mortgage loans		—	$	—	$	—
Commercial mortgage loans		2		126		126
Total		2	$	126	$	126

There were no default payments on the above loan during the second quarter and first six months of 2013.

Valuation allowances for the commercial mortgage loan portfolio were related to loan specific reserves. The following table sets forth the change in valuation allowances for the commercial mortgage loan portfolio as of the dates indicated. There were no valuation allowances for agricultural mortgages at June 30, 2013 and 2012.

	2013			2012
Allowance for credit losses:	(In Millions)
Beginning Balance, January 1,	$	34		$	32
Charge-offs		—			(20	)
Recoveries		(2	)		(1	)
Provision		4			23
Ending Balance, June 30,	$	36		$	34
Ending Balance, June 30,:
Individually Evaluated for Impairment	$	36		$	34
Collectively Evaluated for Impairment	$	—		$	—
Loans Acquired with Deteriorated Credit Quality	$	—		$	—

92

Other Equity Investments

At June 30, 2013, private equity partnerships, hedge funds and real-estate related partnerships were 92.0% of total other equity investments. These interests, which represent 3.2% of GAIA, consist of a diversified portfolio of Leveraged Buyout (“LBO”), mezzanine, venture capital and other alternative limited partnerships, diversified by sponsor, fund and vintage year. The portfolio is actively managed to control risk and generate investment returns over the long term. Portfolio returns are sensitive to overall market developments.

Other Equity Investments - Classifications

	June 30, 2013		December 31, 2012
	(In Millions)
Common stock	$	126	$	67
Joint ventures and limited partnerships:
Private equity		1,068		1,048
Hedge funds		271		156
Real estate related		107		120
Total Other Equity Investments	$	1,572	$	1,391

Derivatives

The Company has issued and continues to offer certain variable annuity products with GMDB, GMIB, and GIB features. The Company had previously issued certain variable annuity products with GWBL, GMWB and GMAB features (collectively, “GWBL and other features”). The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GWBL and other features is that under-performance of the financial markets could result in GWBL and other features’ benefits being higher than what accumulated policyholders’ account balances would support. The Company uses derivatives for asset/liability risk management primarily to reduce exposures to equity market and interest rate fluctuations. Derivative hedging strategies are designed to reduce these risks from an economic perspective while also considering their impacts on accounting results. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, market volatility and interest rates.

A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in the equity and fixed income markets. For GMDB, GMIB, GIB and GWBL and other features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual versus expected assumptions for mortality, lapse and surrender, withdrawal and contractholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMDB, GMIB, GIB and GWBL and other features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps. The Company has purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company.

At the end of 2012, AXA Equitable adjusted its outlook for future interest rate scenarios for some variable annuities with hedged GMDB and GMIB guarantees, as measured under AXA Equitable’s hedging framework, leading to a reduction in their interest rate exposure. The reduced interest rate exposure led to AXA Equitable reducing the size of its interest rate hedges, as well as a change to their maturity profile. In addition, AXA Equitable began to fully unwind its swap and swaption positions hedging exposure to interest rate volatility. AXA Equitable completed the full unwind in early 2013.

GIB and GWBL and other features and the reinsurance contract asset covering GMIB exposure are considered derivatives for accounting purposes and, therefore, are reported in the balance sheet at their fair value. None of the derivatives used in these programs were designated as qualifying hedges under U.S. GAAP accounting guidance for derivatives and hedging. All gains (losses) on derivatives are reported in Net investment income (loss) in the consolidated statements of earnings (loss) except those resulting from changes in the fair values of the GIB and GWBL and other features which are reported in Policyholder’s benefits and the GMIB reinsurance contract asset which is reported on a separate line in the consolidated statement of earnings.

93

The Company periodically, including during the first six months of 2013, has had in place a hedge program to partially protect against declining interest rates with respect to a part of its projected variable annuity sales.

The Company also uses equity and commodity index options to hedge its exposure to equity linked and commodity indexed crediting rates on certain annuity and life products.

Margins or “spreads” on interest-sensitive life insurance and annuity contracts are affected by interest rate fluctuations as the yield on portfolio investments, primarily fixed maturities, are intended to support required payments under these contracts, including interest rates credited to their policy and contract holders. The Company uses swaptions and swaps to reduce the risk associated with minimum crediting rate guarantees on these interest-sensitive contracts.

The Company’s investment in Separate Account equity funds exposes the Company to equity market risk which is hedged through equity future derivative contracts to minimize such risk.

The tables below present quantitative disclosures about the Insurance segment derivative instruments, including those embedded in other contracts though required to be accounted for as derivative instruments.

Derivative Instruments by Category

	At June 30, 2013						Gains (Losses) Reported in Net Earnings (Loss) Six Months Ended June 30, 2013
	Notional     Amount		Fair Value
			Asset   Derivatives		Liability   Derivatives
	(In Millions)
Freestanding derivatives
Equity contracts:(1)
Futures	$	5,488	$	—	$	—	$	(642	)
Swaps		1,260		26		47		(105	)
Options		4,826		657		372		124
Interest rate contracts:(1)
Floors		2,400		227		—		(17	)
Swaps		11,688		304		509		(681	)
Futures		9,197		—		—		(169	)
Swaptions		—		—		—		(154	)
Credit contracts:(1)
Credit default swaps		285		3		3		(3	)
Net investment income (loss)								(1,647	)
Embedded derivatives:
GMIB reinsurance contracts		—		8,707		—		(2,337	)
GWBL and other features(2)		—		—		130		135
Balances, June 30, 2013	$	35,144	$	9,924	$	1,061	$	(3,849	)

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

⁽²⁾  Reported in Future policy benefits and other policyholders’ liabilities.

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Derivative Instruments by Category

	At December 31, 2012						Gains (Losses) Reported in Net Earnings (Loss) Six Months Ended June 30, 2012
	Notional      Amount		Fair Value
			Asset   Derivatives		Liability   Derivatives
	(In Millions)
Freestanding derivatives
Equity contracts:(1)
Futures	$	6,098	$	—	$	—	$	(550	)
Swaps		875		1		52		(135	)
Options		3,492		443		219		11
Interest rate contracts:(1)
Floors		2,700		291		—		42
Swaps		18,130		554		352		357
Futures		14,033		—		—		147
Swaptions		7,608		502		—		100
Net investment income								(28	)
Embedded derivatives:
GMIB reinsurance contracts		—		11,044		—		834
GWBL and other features(2)		—		—		265		(43	)
Total	$	52,936	$	12,835	$	888	$	763

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

⁽²⁾  Reported in Future policy benefits and other policyholders’ liabilities.

Realized Investment Gains (Losses)

Realized investment gains (losses) are generated from numerous sources, including the sale of fixed maturity securities, equity securities, investments in limited partnerships and other types of investments, as well as adjustments to the cost basis of investments for OTTI. Realized investment gains (losses) are also generated from prepayment premiums received on private fixed maturity securities, recoveries of principal on previously impaired securities, provisions for losses on commercial mortgage and other loans, fair value changes on commercial mortgage loans carried at fair value, and fair value changes on embedded derivatives and free-standing derivatives that do not qualify for hedge accounting treatment.

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The following table sets forth “Realized investment gains (losses), net,” for the periods indicated:

Realized Investment Gains (Losses), Net

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Fixed maturities	$	(20	)	$	(56	)	$	(32	)	$	(57	)
Other equity investments		—			—			—			—
Derivatives		—			—			—			—
Other		(1	)		(1	)		(2	)		(8	)
Total	$	(21	)	$	(57	)	$	(34	)	$	(65	)

The following table further describes realized gains (losses), net for Fixed maturities:

Fixed Maturities

Realized Investment Gains (Losses)

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Gross realized investment gains:
Gross gains on sales and maturities	$	19		$	5		$	27		$	7
Other		—			—			—			—
Total gross realized investment gains		19			5			27			7
Gross realized investment losses:
Other-than-temporary impairments recognized in earnings (loss)		(36	)		(49	)		(50	)		(52	)
Gross losses on sales and maturities		(3	)		(12	)		(9	)		(12	)
Credit related losses on sales		—			—			—			—
Other		—			—			—			—
Total gross realized investment losses		(39	)		(61	)		(59	)		(64	)
Total	$	(20	)	$	(56	)	$	(32	)	$	(57	)

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The following table sets forth, for the periods indicated, the composition of other-than-temporary impairments recorded in Earnings (loss) by asset type.

Other-Than-Temporary Impairments Recorded in Earnings (Loss)

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In Millions)
Fixed Maturities:
Public fixed maturities	$	(14	)	$	—		$	(14	)	$	—
Private fixed maturities		(22	)		(49	)		(36	)		(52	)
Total fixed maturities securities		(36	)		(49	)		(50	)		(52	)
Equity securities		—			—			—			—
Other invested assets		—			—			—			—
Total	$	(36	)	$	(49	)	$	(50	)	$	(52	)

At June 30, 2013 and 2012, respectively, the $50 million and $52 million of OTTI on fixed maturities recorded in income were due to credit events or adverse conditions of the respective issuer. In these situations, management believes such circumstances have caused, or will lead to, a deficiency in the contractual cash flows related to the investment. The amount of the impairment recorded in earnings (loss) is the difference between the amortized cost of the debt security and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment.

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LIQUIDITY AND CAPITAL RESOURCES

The following discussion supplements that found in the 2012 Form 10-K’s MD&A section under the caption “Liquidity and Capital Resources.”

Overview

Liquidity management is focused around a centralized funds management process. This centralized process includes the monitoring and control of cash flow associated with policyholder receipts and disbursements and General Account portfolio principal, interest and investment activity. Funds are managed through a banking system designed to reduce float and maximize funds availability. The derivative transactions used to hedge the Company’s variable annuity products are integrated into AXA Equitable’s overall liquidity process; forecast of potential payments and collateral calls during the life of and at the settlement of each derivative transaction are included in the cash flow forecast. Information regarding liquidity needs and availability is reported by various departments and investment managers. The information is used to produce forecasts of available funds and cash flow. Significant market volatility can affect daily cash requirements due to the settlement and collateral calls of derivative transactions.

In addition to gathering and analyzing information on funding needs, the Company has a centralized process for both investing short-term cash and borrowing funds to meet cash needs. In general, the short-term investment positions have a maturity profile of 1-7 days with considerable flexibility as to availability.

In managing the liquidity of the Insurance segment’s business, management also considers the risk of policyholder and contractholder withdrawals of funds earlier than assumed when selecting assets to support these contractual obligations. Surrender charges and other contract provisions are used to mitigate the extent, timing and profitability impact of withdrawals of funds by customers from annuity contracts and deposit liabilities. The following table sets forth withdrawal characteristics of the Company’s General Account annuity reserves and deposit liabilities (based on statutory liability values) as of the dates indicated.

General Accounts Annuity Reserves and Deposit Liabilities

	June 30, 2013					December 31, 2012
	Amount		% of Total			Amount		% of Total
	(Dollars in Millions)
Not subject to discretionary withdrawal provisions	$	4,298		20.8	%	$	4,253		20.4	%
Subject to discretionary withdrawal, with adjustment:
With market value adjustment		31		0.2			30		0.1
At contract value, less surrender charge of 5% or more		1,083		5.2			1,230		5.9
Subtotal		1,114		5.4			1,260		6.0
Subject to discretionary withdrawal at contract value with no surrender charge or surrender charge of less than 5%		15,227		73.8			15,373		73.6
Total Annuity Reserves And Deposit Liabilities	$	20,639		100.0	%	$	20,886		100.0	%

Analysis of Statement of Cash Flows

Cash and cash equivalents of $1.4 billion at June 30, 2013 decreased $1.8 billion from $3.2 billion at December 31, 2012.

Net cash used in operating activities was $242 million in the first six months of 2013 as compared to net cash used in operating activities of $515 million in the first six months of 2012. Cash flows from operating activities include such sources as premiums, investment management and advisory fees and investment income offset by such uses as life insurance benefit payments, policyholder dividends, compensation payments and contributions to benefit plans, other cash expenditures and tax payments.

Net cash used in investing activities was $1.9 billion, $924 million higher than the $972 million net cash used by investing activities in the first six months of 2012. The change was partially due to net purchases of $911 million in the first six months of 2013 as compared to net purchases of $1.2 billion in the first six months of 2012 partially offset by higher cash outflows related to derivatives ($936 million in the first six months of 2013 as compared to cash inflows of $225 million in the first six months of 2012).

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Cash flows provided by financing activities decreased $1.5 billion from $1.9 billion in the first six months of 2012 to $395 million in the first six months of 2013. The impact of the net deposits to policyholders’ account balances was $2.1 billion and $2.2 billion in the first six months of 2013 and 2012, respectively. In the second quarter of 2013, the Company repaid a $500 million 7.1% callable surplus note to AXA Financial. There were decreases in collateralized pledged assets and liabilities of $1.1 billion in the first six months of 2013 as compared to an increase of $221 million in collateralized liabilities in the first six months of 2012. Additional AllianceBernstein Holding units were purchased for $27 million and $95 million in the first six months of 2013 and 2012, respectively. Distributions to noncontrolling interest were $144 million in the first six months of 2013 as compared to $96 million in the first six months of 2012.

AXA Equitable

Liquidity Requirements. AXA Equitable’s liquidity requirements principally relate to the liabilities associated with its various life insurance, annuity and group pension products; the active management of various economic hedging programs; shareholder dividends to AXA Financial; and operating expenses, including debt service. AXA Equitable’s liabilities include, among other things, the payment of benefits under life insurance, annuity and group pension products, as well as cash payments in connection with policy surrenders, withdrawals and loans.

The Company’s liquidity needs are affected by: fluctuations in mortality; other benefit payments; policyholder directed transfers from General Account to Separate Account investment options; and the level of surrenders and withdrawals previously discussed in “Results of Continuing Operations by Segment—Insurance,” as well as by cash settlements of its derivative hedging programs, debt service requirements and dividends to its shareholder.

Sources of Liquidity. The principal sources of AXA Equitable’s cash flows are premiums, deposits and charges on policies and contracts, investment income, repayments of principal and sales proceeds from its fixed maturity portfolios, sales of other General Account Investment Assets, borrowings from third parties and affiliates and dividends and distributions from subsidiaries.

AXA Equitable’s primary source of short-term liquidity to support its insurance operations is a pool of liquid, high quality short-term instruments structured to provide liquidity in excess of the expected cash requirements. In addition, a substantial portfolio of public bonds including U.S. Treasury and agency securities and other investment grade fixed maturities is available to meet AXA Equitable’s liquidity needs. Other liquidity sources include the Company’s credit facility provided by the Federal Home Loan Bank of New York (“FHLBNY”) and dividends and distributions from AllianceBernstein.

Off Balance Sheet Transactions. At June 30, 2013 and December 31, 2012, AXA Equitable was not a party to any off balance sheet transactions other than those guarantees and commitments described in Notes 10 and 16 of Notes to Consolidated Financial Statements in the 2012 Form 10-K.

Guarantees and Other Commitments. AXA Equitable had approximately $18 million of undrawn letters of credit related to reinsurance as well as $400 million and $799 million of commitments under equity financing arrangements to certain limited partnership and existing mortgage loan agreements, respectively, at June 30, 2013. For further information on guarantees and commitments, see the “Supplementary Information” section in Item 7 – Management Discussion and Analysis of Financial Condition and Results of Operations in the 2012 Form 10-K.

Statutory Regulation, Capital and Dividends. AXA Equitable is subject to the regulatory capital requirements of its place of domicile, which are designed to monitor capital adequacy. The level of an insurer’s required capital is impacted by many factors including, but not limited to, business mix, product design, sales volume, invested assets, liabilities, reserves and movements in the capital markets, including interest rates and equity markets. At June 30, 2013, the total adjusted capital was in excess of its regulatory capital requirements and management believes that AXA Equitable has (or has the ability to meet) the necessary capital resources to support its business.

The Company currently reinsures to AXA Arizona a 100% quota share of all liabilities for variable annuity with enhanced GMDB and GMIB riders issued on or after January 1, 2006 and in-force on September 30, 2008. AXA Arizona also reinsures a 90% quota share of level premium term insurance issued by AXA Equitable on or after March 1, 2003 through December 31, 2008 and lapse protection riders under UL insurance policies issued by AXA Equitable on or after June 1, 2003 through June 30, 2007. The reinsurance arrangements with AXA Arizona provide important capital management benefits to AXA Equitable. AXA Equitable receives statutory reserve credits for reinsurance treaties with AXA Arizona to the extent AXA Arizona holds assets in an irrevocable trust ($7.7 billion at June 30, 2013) and/or letters of credit ($2.7 billion at June 30, 2013). Under the reinsurance contracts, AXA Arizona is required to transfer assets into and is permitted to transfer assets from the Trust under certain circumstances. The level of statutory reserves held by AXA Arizona fluctuate based on market movements, mortality experience and policyholder behavior. Increasing reserve requirements may necessitate that additional assets be placed in trust and/or securing additional letters of credit, which could adversely impact AXA Arizona’s liquidity.

99

AXA Equitable monitors its regulatory capital requirements on an ongoing basis taking into account the prevailing conditions in the capital markets. Lower interest rates and/or poor equity market performance, both of which have been experienced recently, increase the reserve requirements and capital needed to support the variable annuity guarantee business. While management believes that AXA Equitable currently has the necessary capital to support its business, future capital requirements will depend on future market conditions and regulations and there can be no assurance that sufficient additional required capital could be secured.

Several states, including New York, regulate transactions between an insurer and its affiliates under insurance holding company acts. These acts contain certain reporting requirements and restrictions on provision of services and on transactions, such as intercompany service agreements, asset transfers, reinsurance, loans and shareholder dividend payments by insurers. Depending on their size, such transactions and payments may be subject to prior notice to, or approval by, the insurance department of the applicable state.

AXA Equitable is restricted as to the amounts it may pay as dividends to AXA Financial. Under the applicable states’ insurance law, a domestic life insurer may, without prior approval of the Superintendent, pay a dividend to its shareholders not exceeding an amount calculated based on a statutory formula. This formula would permit AXA Equitable to pay shareholder dividends not greater than $463 million during 2013. Payment of dividends exceeding this amount requires the insurer to file notice of its intent to declare such dividends with the Superintendent who then has 30 days to disapprove the distribution. AXA Equitable paid no shareholder dividends during the first six months of 2013 and 2012.

For the second quarter and first six months of 2013 and 2012, respectively, AXA Equitable’s statutory net income (loss) totaled $668 million, $518 million, $584 million and $86 million. Statutory surplus, capital stock and Asset Valuation Reserve totaled $4.0 billion and $5.2 billion at June 30, 2013 and December 31, 2012, respectively.

For additional information, see “Item 1 – Business – Regulation” and “Item 1A – Risk Factors” in the 2012 Form 10-K.

AllianceBernstein

For the first six months of 2013, net cash provided by AllianceBernstein’s operating activities was $111 million, a decrease of $130 million from the corresponding 2012 period. The change was primarily due to a higher decrease in broker-dealer related payables (net of receivables and segregated U.S. Treasury bills activity).

For the first six months of 2013, net cash used in investing activities was $9 million, up $1 million from the corresponding 2012 period. The increase was primarily due to an increase in net purchases of furniture and equipment.

For the first six months of 2013, net cash used in financing activities was $146 million, a decrease of $244 million from the $390 million of cash used in the corresponding 2012 period. The increase was primarily due to the $22 million net issuance of commercial paper during the current period as compared to the net repayment of $170 million of commercial paper during the 2012 period and $68 million lower repurchases of Holding Units partially offset by $87 million higher distributions to the General Partner and unitholders as a result of higher earnings (distributions on earnings are paid one quarter in arrears).

At June 30, 2013, AllianceBernstein had $571 million of cash and cash equivalents all of which is available for liquidity, but is comprised primarily of cash on deposit for AllianceBernstein’s broker dealers to comply with various customer clearing activities and cash held by foreign entities for which a permanent investment election for U.S. tax purposes is taken. If the cash held at AllianceBernstein’s foreign subsidiaries of $378 million, which includes cash on deposit for AllianceBernstein’s foreign broker dealers, was to be repatriated to the U.S., AllianceBernstein would be required to accrue and pay U.S. income taxes on these funds. AllianceBernstein’s intent is to permanently reinvest these earnings outside the U.S.

At June 30, 2013 and December 31, 2012, respectively, AllianceBernstein had $346 million and $323 million, outstanding under its commercial paper program.

100

AllianceBernstein has a $1.0 billion committed, unsecured senior revolving credit facility (the “ AB Credit Facility”) with a group of commercial banks and other lenders, which matures on January 17, 2017. The AB Credit Facility provides for possible increases in the principal amount by up to an aggregate incremental amount of $250 million, any such increase being subject to the consent of the affected lenders. The AB Credit Facility is available for AllianceBernstein’s and SCB LLC’s business purposes, including the support of AllianceBernstein’s $1.0 billion commercial paper program. Both AllianceBernstein and SCB LLC can draw directly under the AB Credit Facility and AllianceBernstein’s management expects to draw on the AB Credit Facility from time to time. As of June 30, 2013 and December 31, 2012, AllianceBernstein had no amounts outstanding under the AB Credit Facility.

In addition, SCB LLC has five uncommitted lines of credit with four financial institutions. Two of these lines of credit permit AllianceBernstein to borrow up to an aggregate of approximately $200 million while three lines have no stated limit. As of June 30, 2013 and December 31, 2012, AllianceBernstein had no uncommitted bank loans outstanding.

101

SUPPLEMENTARY INFORMATION

The Company is involved in a number of ventures and transactions with AXA and certain of its affiliates. See Notes 11 and 16 of Notes to the Consolidated Financial Statements in AXA Equitable’s 2012 Form 10-K as well as AllianceBernstein’s Report on Form 10-K for the year ended December 31, 2012 for information on related party transactions.

Contractual Obligations

The Company’s consolidated contractual agreements include policyholder obligations, long-term debt, commercial paper, loans from affiliates, employee benefits, operating leases and various funding commitments. See the “Supplementary Information – Contractual Obligation” section in Item 7 – Management Discussion and Analysis of Financial Condition and Results of Operations in AXA Equitable’s 2012 Form 10-K for additional information.

ADOPTION AND FUTURE ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS

See Note 2 to the Consolidated Financial Statements included herein for a discussion of recently adopted accounting pronouncements. Also see Note 2 to the Consolidated Financial Statements included herein for a discussion of recently issued accounting pronouncements.

102

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There have been no material changes to the quantitative and qualitative disclosures about market risk described in Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” included in the 2012 Form 10-K.

Item 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

An evaluation was performed under the supervision and with the participation of management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures as of June 30, 2013. Based on that evaluation, management, including the Chief Executive Officer and Chief Financial Officer, concluded that the Company’s disclosure controls and procedures were effective as of June 30, 2013.

Changes in Internal Control Over Financial Reporting

There has been no change in the Company’s internal control over financial reporting that occurred during the quarter ended June 30, 2013 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

103

PART II OTHER INFORMATION

Item 1. Legal Proceedings

See Note 10 of Notes to Consolidated Financial Statements contained herein. Except as disclosed in Note 10 of Notes to Consolidated Financial Statements, there have been no new material legal proceedings and no new material developments in legal proceedings previously reported in the 2012 Form 10-K.

Item 1A. Risk Factors

You should carefully consider the risks described in Part I, Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2012. These risks could materially affect our business, consolidated results of operations or financial condition. These risks are not exclusive, and additional risks to which we are subject include, but are not limited to, the factors mentioned under “Forward-Looking Statements” above and the risks of our businesses described elsewhere in this Quarterly Report on Form 10-Q.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

NONE.

Item 3. Defaults Upon Senior Securities

NONE.

Item 4. Mine Safety Disclosures

NONE.

Item 5. Other Information

Iran Threat Reduction and Syria Human Rights Act

AXA Financial, AXA Equitable and their global subsidiaries had no transactions or activities requiring disclosure under the Iran Threat Reduction and Syria Human Rights Act (“Iran Act”), nor were they involved in the AXA Group insurance policies described immediately below.

The non-U.S. based subsidiaries of AXA, our parent company, operate in compliance with applicable laws and regulations of the various jurisdictions where they operate, including applicable international (United Nations and European Union) laws and regulations. While AXA Group companies based and operating outside the United States generally are not subject to U.S. law, as an international group, AXA has in place policies and standards (including the AXA Group International Sanctions Policy) that apply to all AXA Group companies worldwide and often impose requirements that go well beyond local law.

AXA has reported to us that two insurance policies underwritten by one of AXA’s European insurance subsidiaries, AXA France IARD, that were in-force during the second quarter of 2013 potentially come within the scope of the disclosure requirements of the Iran Act. Each of these insurance policies relate to property and casualty insurance (homeowners, auto, accident, liability and/or fraud policies) covering property located in France where the insured is a company or other entity that may have, direct or indirect, ties to the Government of Iran, including Iranian entities designated under Executive Orders 13224 and 13382. AXA France IARD is a French company, based in Paris, which is licensed to operate in France. The annual aggregate revenue AXA derives from these two policies is approximately $10,000 and the related net profit, which is difficult to calculate with precision, is estimated to be $5,000.

Following additional diligence, AXA France IARD has identified eight additional insurance policies that were originally written during 2010 and 2011 that remained in effect during the second quarter of 2013 and may require reporting. These eight policies involve auto or property insurance provided to the Iranian delegation to the United Nations Educational, Scientific and Cultural Organization in Paris. The annual aggregate revenue AXA derives from all eight policies is approximately $8,000 and the related net profit, which is difficult to calculate with precision, is estimated to be $4,000.

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Lastly, AXA has informed us that, during the second quarter of 2013, AXA Konzem AG, an AXA European insurance subsidiary, provided property insurance to MCS International GMBH (“MCS”). MCS was listed as a designated SDN by the Office of Foreign Assets Control during the second quarter of 2013, after the insurance policy had been completed. The premium received by AXA in respect of this insurance policy is approximately $15,000 and the related net profit, which is difficult to calculate with precision, is estimated to be $8,000.

As of the date of this report, AXA France IARD and AXA Konzem AG have taken actions necessary to terminate coverage under all 11 insurance policies. The aggregate premium for these 11 policies was approximately $33,000, representing less than .00003% of AXA’s consolidated revenues, which are in excess of $100 billion. The net profit attributable to these 11 insurance policies is difficult to calculate with precision, but AXA estimates its net profit attributable to all 11 of these policies, in the aggregate, was approximately $17,000, representing less than .0004% of AXA’s aggregate net profit.

Item 6. Exhibits

Number	Description and Method of Filing
31.1	Certification of the Registrant’s Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of the Registrant’s Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of the Registrant’s Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of the Registrant’s Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, AXA Equitable Life Insurance Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date:	August 8, 2013	AXA EQUITABLE LIFE INSURANCE COMPANY
			By:	/s/ Anders Malmstrom
				Name:	Anders Malmstrom
				Title:	Senior Executive Director
					and Chief Financial Officer
Date:	August 8, 2013			/s/ Andrea Nitzan
				Name:	Andrea Nitzan
				Title:	Executive Director and
					Chief Accounting Officer

106

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Mark Pearson, Chairman of the Board and Chief Executive Officer of AXA Equitable Life Insurance Company, certify that:

1) I have reviewed this quarterly report on Form 10-Q of AXA Equitable Life Insurance Company (the “Registrant”);

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4) The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and we have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5) The Registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: August 8, 2013

/s/ Mark Pearson

Mark Pearson

Chairman of the Board and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Anders Malmstrom, Senior Executive Director and Chief Financial Officer of AXA Equitable Life Insurance Company, certify that:

1) I have reviewed this quarterly report on Form 10-Q of AXA Equitable Life Insurance Company (the “Registrant”);

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4) The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and we have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5) The Registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: August 8, 2013

/s/ Anders Malmstrom

Anders Malmstrom

Senior Executive Director and Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of AXA Equitable Life Insurance Company (the “Company”) for the quarter ended June 30, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Mark Pearson, Chairman of the Board and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 8, 2013

/s/ Mark Pearson

Mark Pearson

Chairman of the Board and Chief Executive Officer

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of AXA Equitable Life Insurance Company (the “Company”) for the quarter ended June 30, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Anders Malmstrom, Senior Executive Director and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 8, 2013

/s/ Anders Malmstrom

Anders Malmstrom

Senior Executive Director and Chief Financial Officer

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LITIGATION

6 Months Ended

Jun. 30, 2013

Litigation [Abstract]

LITIGATION

10)LITIGATION

There have been no new material legal proceedings and no material developments in specific litigations or regulatory matters previously reported in the Company's Notes to Consolidated Financial Statements for the year ended December 31, 2012, except as set forth below:

Insurance Litigation

A lawsuit was filed in the United States District Court of the District of New Jersey in July 2011, entitled Mary Ann Sivolella v. AXA Equitable Life Insurance Company and AXA Equitable Funds Management Group, LLC (“FMG LLC”) (“Sivolella Litigation”). The lawsuit was filed derivatively on behalf of eight funds. The lawsuit seeks recovery under Section 36(b) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), for alleged excessive fees paid to AXA Equitable and FMG LLC for investment management services. In November 2011, plaintiff filed an amended complaint, adding claims under Sections 47(b) and 26(f) of the Investment Company Act, as well as a claim for unjust enrichment.  In addition, plaintiff purports to file the lawsuit as a class action in addition to a derivative action. In the amended complaint, plaintiff seeks recovery of the alleged overpayments, rescission of the contracts, restitution of all fees paid, interest, costs, attorney fees, fees for expert witnesses and reserves the right to seek punitive damages where applicable. In December 2011, AXA Equitable and FMG LLC filed a motion to dismiss the amended complaint. In May 2012, the Plaintiff voluntarily dismissed her claim under Section 26(f) seeking restitution and rescission under Section 47(b) of the 1940 Act. In September 2012, the Court denied the defendants' motion to dismiss as it related to the Section 36(b) claim and granted the defendants' motion as it related to the unjust enrichment claim.

In January 2013, a second lawsuit was filed in the United States District Court of the District of New Jersey entitled Sanford et al. v. FMG LLC (“Sanford Litigation”). The lawsuit was filed derivatively on behalf of eight funds, four of which are named in the Sivolella lawsuit as well as four new funds, and seeks recovery under Section 36(b) of the Investment Company Act for alleged excessive fees paid to FMG LLC for investment management services. In light of the similarities of the allegations in the Sivolella and Sanford Litigations, the parties and the Court agreed to consolidate the two lawsuits.

In April 2013, the plaintiffs in the Sivolella and Sanford Litigations amended the complaints to add additional claims under Section 36(b) of the Investment Company Act for recovery of alleged excessive fees paid to FMG LLC in its capacity as administrator of EQ Advisors Trust. The Plaintiffs seek recovery of the alleged overpayments, or alternatively, rescission of the contract and restitution of the excessive fees paid, interest, costs and fees.

____________________________________________________________________________

In addition to the matters described above, a number of lawsuits, claims and assessments have been filed against life and health insurers and asset managers in the jurisdictions in which AXA Equitable and its respective subsidiaries do business. These actions and proceedings involve, among other things, insurers' sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, allegedbreach of fiduciary duties, alleged mismanagement of client funds and other matters. Some of the matters have resulted in the award of substantial judgments against other insurers and asset managers, including material amounts of punitive damages, or in substantial settlements. In some states, juries have substantial discretion in awarding punitive damages. AXA Equitable and its subsidiaries from time to time are involved in such actions and proceedings. Some of these actions and proceedings filed against AXA Equitable and its subsidiaries have been brought on behalf of various alleged classes of plaintiffs and certain of these plaintiffs seek damages of unspecified amounts. While the ultimate outcome of such matters cannot be predicted with certainty, in the opinion of management no such matter is likely to have a material adverse effect on AXA Equitable's consolidated financial position or results of operations. However, it should be noted that the frequency of large damage awards, including large punitive damage awards that bear little or no relation to actual economic damages incurred by plaintiffs in some jurisdictions, continues to create the potential for an unpredictable judgment in any given matter.

Although the outcome of litigation and regulatory matters generally cannot be predicted with certainty, management intends to vigorously defend against the allegations made by the plaintiffs in the actions described above and believes that the ultimate resolution of the litigation and regulatory matters described therein involving AXA Equitable and/or its subsidiaries should not have a material adverse effect on the consolidated financial position of AXA Equitable. Management cannot make an estimate of loss, if any, or predict whether or not any of the litigations and regulatory matters described above will have a material adverse effect on AXA Equitable's consolidated results of operations in any particular period.

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EMPLOYEE BENEFIT PLANS (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Net Periodic Pension Expense:[Abstract]
Service Cost	$ 11	$ 11	$ 22	$ 22
Interest Cost	24	27	47	53
Expected Return On Plan Assets	39	35	77	69
Net amortization	41	41	82	82
Net Periodic Pension Expense	$ 37	$ 44	$ 74	$ 88

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CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
REVENUES
Universal life and investment-type product policy fee income	$ 853	$ 821	$ 1,750	$ 1,649
Premiums	128	116	254	259
Net investment income (loss):
Investment income (loss) from derivative instruments	(739)	1,517	(1,646)	(42)
Other Investment Income (Loss)	529	545	1,094	1,178
Total net investment income (loss)	(210)	2,062	(552)	1,136
Investment gains (losses), net:
Total other-than-temporary impairment losses	(50)	(50)	(64)	(53)
Portion of loss recognized in other comprehensive income (loss)	15	1	15	1
Net impariment losses recognized	(35)	(49)	(49)	(52)
Other investment gains (losses), net	1	(4)	(1)	(9)
Total investment gains (losses), net	(34)	(53)	(50)	(61)
Commissions, fees and other income	949	852	1,864	1,706
Increase (decrease) in the fair value of the reinsurance contract asset	(1,149)	2,677	(2,337)	834
Total revenues	537	6,475	929	5,523
BENEFITS AND OTHER DEDUCTIONS
Policyholders' benefits	539	1,250	967	1,387
Interest credited to policyholders' account balances	251	250	632	566
Compensation and benefits	449	393	872	820
Commissions	292	320	573	651
Distribution related payments	112	86	221	166
Amortization of deferred sales commissions	10	10	21	18
Interest expense	25	27	53	54
Amortization of deferred policy acquisition costs	120	245	159	328
Capitalization of deferred policy acquisition costs	(162)	(192)	(321)	(375)
Rent expense	42	56	85	117
Amortization of other intangible assets	6	6	12	12
Other operating costs and expenses	370	198	728	519
Total benefits and other deductions	2,054	2,649	4,002	4,263
Earnings (loss) from continuing operations, before income taxes	(1,517)	3,826	(3,073)	1,260
Income tax (expense) benefit	549	(1,358)	1,171	(365)
Net earnings (loss)	(968)	2,468	(1,902)	895
Less: net (earnings) loss attributable to the noncontrolling interest	(83)	(47)	(153)	(109)
Net Earnings (Loss) Attributable to AXA Equitable	$ (1,051)	$ 2,421	$ (2,055)	$ 786

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INVESTMENTS

6 Months Ended

Jun. 30, 2013

Investments Disclosure [Abstract]

INVESTMENTS

3)INVESTMENTS

Fixed Maturities and Equity Securities

The following table provides information relating to fixed maturities and equity securities classified as AFS:

Available-for-Sale Securities by Classification
					Gross		Gross
			Amortized		Unrealized		Unrealized		Fair		OTTI
			Cost		Gains		Losses		Value		in AOCI (3)
			(In Millions)
June 30, 2013:
Fixed Maturities:
	Corporate		$	20,670	$	1,527	$	171	$	22,026	$	0
	U.S. Treasury, government and agency			5,420		119		266		5,273		0
	States and political subdivisions			446		49		2		493		0
	Foreign governments			412		50		4		458		0
	Commercial mortgage-backed			1,113		14		329		798		25
	Residential mortgage-backed(1)			980		43		0		1,023		0
	Asset-backed(2)			146		10		4		152		4
	Redeemable preferred stock			1,044		54		21		1,077		0
		Total Fixed Maturities		30,231		1,866		797		31,300		29
Equity securities				24		0		0		24		0
Total at June 30, 2013			$	30,255	$	1,866	$	797	$	31,324	$	29
December 31, 2012:
Fixed Maturities:
	Corporate		$	20,854	$	2,364	$	20	$	23,198	$	0
	U.S. Treasury, government and agency			4,664		517		1		5,180		0
	States and political subdivisions			445		85		0		530		0
	Foreign governments			454		76		0		530		0
	Commercial mortgage-backed			1,175		16		291		900		13
	Residential mortgage-backed(1)			1,864		85		0		1,949		0
	Asset-backed(2)			175		12		5		182		5
	Redeemable preferred stock			1,089		60		11		1,138		0
		Total Fixed Maturities		30,720		3,215		328		33,607		18
Equity securities				23		1		0		24		0
Total at December 31, 2012			$	30,743	$	3,216	$	328	$	33,631	$	18

• Includes publicly traded agency pass-through securities and collateralized mortgage obligations.
• Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans.
• Amounts represent OTTI losses in AOCI, which were not included in earnings (loss) in accordance with current accounting guidance.

At June 30, 2013 and December 31, 2012, respectively, the Company had trading fixed maturities with an amortized cost of $186 million and $194 million and carrying values of $178 million and $202 million. Gross unrealized gains on trading fixed maturities were $0million and $12 million and gross unrealized losses were $8 million and $4 million at June 30, 2013 and December 31, 2012, respectively.

The contractual maturities of AFS fixed maturities (excluding redeemable preferred stock) at June 30, 2013 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

Available-for-Sale Fixed Maturities
Contractual Maturities at June 30, 2013
		Amortized Cost		Fair Value
		(In Millions)
Due in one year or less		$	666	$	672
Due in years two through five			7,460		7,975
Due in years six through ten			11,123		11,720
Due after ten years			7,699		7,883
	Subtotal		26,948		28,250
Commercial mortgage-backed securities			1,113		798
Residential mortgage-backed securities			980		1,023
Asset-backed securities			146		152
Total		$	29,187	$	30,223

The following table shows proceeds from sales, gross gains (losses) from sales and OTTI for AFS fixed maturities during the second quarter and first six months of 2013 and 2012:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In Millions)
Proceeds from sales	$	912	$	28	$	1,172	$	28
Gross gains on sales	$	14	$	3	$	21	$	3
Gross losses on sales	$	(1)	$	(9)	$	(1)	$	(9)
Total OTTI	$	(50)	$	(50)	$	(64)	$	(53)
Non-credit losses recognized in OCI		15		1		15		1
Credit losses recognized in earnings (loss)	$	(35)	$	(49)	$	(49)	$	(52)

The following table sets forth the amount of credit loss impairments on fixed maturity securities held by the Company at the dates indicated and the corresponding changes in such amounts.

	Fixed Maturities - Credit Loss Impairments
		Three Months Ended					Six Months Ended
		June 30,					June 30,
			2013		2012		2013		2012
			(In Millions)
Balances, beginning of period			$	(384)	$	(334)	$	(372)	$	(332)
Previously recognized impairments on securities that matured,
	paid, prepaid or sold			12		14		14		15
Recognized impairments on securities impaired to fair value this period(1)				0		0		0		0
Impairments recognized this period on securities not previously impaired				(35)		(17)		(49)		(20)
Additional impairments this period on securities previously impaired				0		(32)		0		(32)
Increases due to passage of time on previously recorded credit losses				0		0		0		0
Accretion of previously recognized impairments due to increases in
	expected cash flows			0		0		0		0
Balances at June 30,			$	(407)	$	(369)	$	(407)	$	(369)

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

Net unrealized investment gains (losses) on fixed maturities and equity securities classified as AFS are included in the consolidated balance sheets as a component of AOCI. The table below presents these amounts as of the dates indicated:

			June 30,		December 31,
			2013		2012
			(In Millions)
AFS Securities:
	Fixed maturities:
		With OTTI loss	$	(35)	$	(12)
		All other		1,104		2,899
	Equity securities			0		1
Net Unrealized Gains (Losses)			$	1,069	$	2,888

Changes in net unrealized investment gains (losses) recognized in AOCI include reclassification adjustments to reflect amounts realized in Net earnings (loss) for the current period that had been part of OCI in earlier periods. The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized, and all other:

Net Unrealized Gains (Losses) on Fixed Maturities with OTTI Losses
											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, April 1, 2013			$	(8)	$	1	$	4	$	1	$	(2)
Net investment gains (losses) arising
	during the period			(12)		0		0		0		(12)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		0		0		0		0		0
		Excluded from Net earnings (loss)(1)		(15)		0		0		0		(15)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		1		0		0		1
		Deferred income taxes		0		0		0		7		7
		Policyholders' liabilities		0		0		5		0		5
Balance, June 30, 2013			$	(35)	$	2	$	9	$	8	$	(16)
Balance, April 1, 2012			$	(28)	$	1	$	4	$	8	$	(15)
Net investment gains (losses) arising
	during the period			(17)		0		0		0		(17)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		32		0		0		0		32
		Excluded from Net earnings (loss)(1)		(1)		0		0		0		(1)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		0		0		0		0
		Deferred income taxes		0		0		0		(5)		(5)
		Policyholders' liabilities		0		0		(1)		0		(1)
Balance, June 30, 2012			$	(14)	$	1	$	3	$	3	$	(7)

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

											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, January 1, 2013			$	(12)	$	1	$	4	$	2	$	(5)
Net investment gains (losses) arising
	during the period			(13)		0		0		0		(13)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		5		0		0		0		5
		Excluded from Net earnings (loss)(1)		(15)		0		0		0		(15)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		1		0		0		1
		Deferred income taxes		0		0		0		6		6
		Policyholders' liabilities		0		0		5		0		5
Balance, June 30, 2013			$	(35)	$	2	$	9	$	8	$	(16)
Balance, January 1, 2012			$	(47)	$	5	$	6	$	12	$	(24)
Net investment gains (losses) arising
	during the period			2		0		0		0		2
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		32		0		0		0		32
		Excluded from Net earnings (loss)(1)		(1)		0		0		0		(1)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		(4)		0		0		(4)
		Deferred income taxes		0		0		0		(9)		(9)
		Policyholders' liabilities		0		0		(3)		0		(3)
Balance, June 30, 2012			$	(14)	$	1	$	3	$	3	$	(7)

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

All Other Net Unrealized Investment Gains (Losses) in AOCI
											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, April 1, 2013			$	2,603	$	(121)	$	(593)	$	(661)	$	1,228
Net investment gains (losses) arising
	during the period			(1,535)		0		0		0		(1,535)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		21		0		0		0		21
		Excluded from Net earnings (loss)(1)		15		0		0		0		15
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		11		0		0		11
		Deferred income taxes		0		0		0		429		429
		Policyholders' liabilities		0		0		257		0		257
Balance, June 30, 2013			$	1,104	$	(110)	$	(336)	$	(232)	$	426
Balance, April 1, 2012			$	1,789	$	(111)	$	(380)	$	(455)	$	843
Net investment gains (losses) arising
	during the period			644		0		0		0		644
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		22		0		0		0		22
		Excluded from Net earnings (loss)(1)		1		0		0		0		1
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		(62)		0		0		(62)
		Deferred income taxes		0		0		0		(204)		(204)
		Policyholders' liabilities		0		0		(22)		0		(22)
Balance, June 30, 2012			$	2,456	$	(173)	$	(402)	$	(659)	$	1,222

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

											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, January 1, 2013			$	2,900	$	(179)	$	(603)	$	(741)	$	1,377
Net investment gains (losses) arising
	during the period			(1,838)		0		0		0		(1,838)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		27		0		0		0		27
		Excluded from Net earnings (loss)(1)		15		0		0		0		15
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		69		0		0		69
		Deferred income taxes		0		0		0		509		509
		Policyholders' liabilities		0		0		267		0		267
Balance, June 30, 2013			$	1,104	$	(110)	$	(336)	$	(232)	$	426
Balance, January 1, 2012			$	1,831	$	(207)	$	(385)	$	(433)	$	806
Net investment gains (losses) arising
	during the period			601		0		0		0		601
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		23		0		0		0		23
		Excluded from Net earnings (loss)(1)		1		0		0		0		1
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		34		0		0		34
		Deferred income taxes		0		0		0		(226)		(226)
		Policyholders' liabilities		0		0		(17)		0		(17)
Balance, June 30, 2012			$	2,456	$	(173)	$	(402)	$	(659)	$	1,222

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

The following tables disclose the fair values and gross unrealized losses of the 798 issues at June 30, 2013 and the 402 issues at December 31, 2012 of fixed maturities that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated:

			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)
June 30, 2013:
Fixed Maturities:
	Corporate		$	3,313	$	(161)	$	98	$	(10)	$	3,411	$	(171)
	U.S. Treasury, government
		and agency		3,481		(266)		0		0		3,481		(266)
	States and political subdivisions			20		(2)		0		0		20		(2)
	Foreign governments			82		(4)		2		0		84		(4)
	Commercial mortgage-backed			45		(17)		507		(312)		552		(329)
	Residential mortgage-backed			47		0		1		0		48		0
	Asset-backed			14		0		29		(4)		43		(4)
	Redeemable preferred stock			493		(14)		86		(7)		579		(21)
Total			$	7,495	$	(464)	$	723	$	(333)	$	8,218	$	(797)
December 31, 2012:
Fixed Maturities:
Corporate			$	562	$	(5)	$	208	$	(15)	$	770	$	(20)
	U.S. Treasury, government
		and agency		513		(1)		0		0		513		(1)
	States and political subdivisions			20		0		0		0		20		0
	Foreign governments			6		0		2		0		8		0
	Commercial mortgage-backed			7		(3)		805		(288)		812		(291)
	Residential mortgage-backed			27		0		1		0		28		0
	Asset-backed			8		0		36		(5)		44		(5)
	Redeemable preferred stock			143		(1)		327		(10)		470		(11)
Total			$	1,286	$	(10)	$	1,379	$	(318)	$	2,665	$	(328)

The Company's investments in fixed maturity securities do not include concentrations of credit risk of any single issuer greater than 10% of the consolidated equity of AXA Equitable, other than securities of the U.S. government, U.S. government agencies, and certain securities guaranteed by the U.S. government. The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 0.3% of total investments. The largest exposures to a single issuer of corporate securities held at June 30, 2013 and December 31, 2012 were $138 million and $138 million, respectively. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the NAIC designation of 3 (medium grade), 4 or 5 (below investment grade) or 6 (in or near default). At June 30, 2013 and December 31, 2012, respectively, approximately $1,979 million and $2,095 million, or 6.5% and 6.8%, of the $30,231million and $30,720million aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had net unrealized losses of $301 million and $224 million at June 30, 2013 and December 31, 2012, respectively.

The Company does not originate, purchase or warehouse residential mortgages and is not in the mortgage servicing business. The Company's fixed maturity investment portfolio includes RMBS backed by subprime and Alt-A residential mortgages, comprised of loans made by banks or mortgage lenders to residential borrowers with lower credit ratings. The criteria used to categorize such subprime borrowers include FICO scores, interest rates charged, debt-to-income ratios and loan-to-value ratios. Alt-A residential mortgages are mortgage loans where the risk profile falls between prime and subprime; borrowers typically have clean credit histories but the mortgage loan has an increased risk profile due to higher loan-to-value and debt-to-income ratios and/or inadequate documentation of the borrowers' income. At June 30, 2013 and December 31, 2012, respectively, the Company owned $14 million and $17 million in RMBS backed by subprime residential mortgage loans and $10 million and $11 million in RMBS backed by Alt-A residential mortgage loans. RMBS backed by subprime and Alt-A residential mortgages are fixed income investments supporting General Account liabilities.

At June 30, 2013, the carrying value of fixed maturities that were non-income producing for the twelve months preceding that date was $22 million.

For the second quarterand first six months of 2013 and 2012, investment income is shown net of investment expenses of $18million, $32 million,$13 million and $26 million, respectively.

At June 30, 2013 and December 31, 2012, respectively, the amortized cost of the Company's trading account securities was $3,239 million and $2,265million with respective fair values of $3,219 million and $2,309 million. Also at June 30, 2013 and December 31, 2012, respectively, Other equity investments included the General Account's investment in Separate Accounts which had carrying values of $117 million and $58 million and costs of $114million and $57 million as well as other equity securities with carrying values of $24million and $24 million and costs of $24 million and $23 million.

In thesecond quarter and first six months of 2013 and 2012, respectively, net unrealized and realized holding gains (losses) on trading account equity securities, including earnings (loss) on the General Account's investment in Separate Accounts, of $(3) million, $18 million, $(16)million and $32 million, respectively, were included in Net investment income (loss) in the consolidated statements of earnings (loss).

Mortgage Loans

Mortgage loans on real estate are placed on nonaccrual status once management believes the collection of accrued interest is doubtful. Once mortgage loans on real estate are classified as nonaccrual loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan on real estate has been restructured to where the collection of interest is considered likely. At June 30, 2013 and December 31, 2012, the carrying values of commercial and agricultural mortgage loans on real estate that had been classified as nonaccrual loans were $0 million and $0 million for commercial and $0 million and $2 million for agricultural, respectively.

Troubled Debt Restructurings

In October 2011, one of the 2 loans shown in the table below was modified to interest only payments until October 1, 2013, at which time the loan reverts to its normal amortizing payment. In December 2012, the second loan was modified retroactive to the July 1, 2012 payment and was converted to interest only payments through maturity in August 2014. Due to the nature of the modifications, short-term principal amortization relief, the modifications have no financial impact. The fair market value of the underlying real estate collateral is the primary factor in determining the allowance for credit losses and as such, modifications of loan terms typically have no direct impact on the allowance for credit losses.

Troubled Debt Restructuring - Modifications
		Number		Outstanding Recorded Investment
		of Loans		Pre-Modification		Post - Modification
June 30, 2013				(In Millions)
Troubled debt restructurings:
	Agricultural mortgage loans		0	$	0	$	0
	Commercial mortgage loans		2		126		126
Total			2	$	126	$	126

There were no default payments on the above loans during the second quarterand first six months of 2013.

Valuation Allowances for Mortgage Loans:

Allowance for credit losses for commercial mortgage loans for the first six months of 2013and 2012are as follows:

		2013		2012
Allowance for credit losses:		(In Millions)
Beginning balance, January 1,		$	34	$	32
	Charge-offs		0		(20)
	Recoveries		(2)		(1)
	Provision		4		23
Ending balance, June 30,		$	36	$	34
Ending balance, June 30,:
	Individually Evaluated for Impairment	$	36	$	34
	Collectively Evaluated for Impairment	$	0	$	0
	Loans Acquired with Deteriorated Credit Quality	$	0	$	0

There were no allowances for credit losses for agricultural mortgage loans for the first six months of 2013 and 2012.

The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value. The following tables provide information relating to the debt service coverage ratio for commercialand agricultural mortgage loans at June 30, 2013 and December 31, 2012.

Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios
June 30, 2013
		Debt Service Coverage Ratio
												Less		Total
		Greater		1.8x to		1.5x to		1.2x to		1.0x to		than		Mortgage
Loan-to-Value Ratio:(2)		than 2.0x		2.0x		1.8x		1.5x		1.2x		1.0x		Loans
		(In Millions)
Commercial Mortgage Loans(1)
0% - 50%		$	290	$	0	$	0	$	1	$	17	$	0	$	308
50% - 70%			517		176		590		415		89		0		1,787
70% - 90%			116		0		261		522		132		198		1,229
90% plus			126		0		0		0		107		48		281
Total Commercial
	Mortgage Loans	$	1,049	$	176	$	851	$	938	$	345	$	246	$	3,605
Agricultural Mortgage Loans(1)
0% - 50%		$	181	$	86	$	200	$	370	$	196	$	48	$	1,081
50% - 70%			116		33		185		184		147		48		713
70% - 90%			0		0		0		1		0		0		1
90% plus			0		0		0		0		0		0		0
Total Agricultural
	Mortgage Loans	$	297	$	119	$	385	$	555	$	343	$	96	$	1,795
Total Mortgage Loans(1)
0% - 50%		$	471	$	86	$	200	$	371	$	213	$	48	$	1,389
50% - 70%			633		209		775		599		236		48		2,500
70% - 90%			116		0		261		523		132		198		1,230
90% plus			126		0		0		0		107		48		281
Total Mortgage Loans		$	1,346	$	295	$	1,236	$	1,493	$	688	$	342	$	5,400

• The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service.
• The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually.

Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios
December 31, 2012
		Debt Service Coverage Ratio
												Less		Total
		Greater		1.8x to		1.5x to		1.2x to		1.0x to		than		Mortgage
Loan-to-Value Ratio:(2)		than 2.0x		2.0x		1.8x		1.5x		1.2x		1.0x		Loans
		(In Millions)
Commercial Mortgage Loans(1)
0% - 50%		$	269	$	21	$	0	$	0	$	27	$	0	$	317
50% - 70%			370		75		619		655		0		0		1,719
70% - 90%			61		102		235		445		131		15		989
90% plus			0		0		0		156		89		165		410
Total Commercial
	Mortgage Loans	$	700	$	198	$	854	$	1,256	$	247	$	180	$	3,435
Agricultural Mortgage Loans(1)
0% - 50%		$	179	$	84	$	211	$	308	$	177	$	49	$	1,008
50% - 70%			122		29		136		188		116		50		641
70% - 90%			0		0		0		1		0		8		9
90% plus			0		0		0		0		0		0		0
Total Agricultural
	Mortgage Loans	$	301	$	113	$	347	$	497	$	293	$	107	$	1,658
Total Mortgage Loans(1)
0% - 50%		$	448	$	105	$	211	$	308	$	204	$	49	$	1,325
50% - 70%			492		104		755		843		116		50		2,360
70% - 90%			61		102		235		446		131		23		998
90% plus			0		0		0		156		89		165		410
Total Mortgage Loans		$	1,001	$	311	$	1,201	$	1,753	$	540	$	287	$	5,093

• The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service.
• The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually.

The following table provides information relating to the aging analysis of past due mortgage loans at June 30, 2013 and December 31, 2012, respectively.

Age Analysis of Past Due Mortgage Loans
														Recorded
														Investment
						90						Total		> 90 Days
		30-59		60-89		Days						Financing		and
		Days		Days		or >		Total		Current		Receivables		Accruing
								(In Millions)
June 30, 2013
	Commercial	$	0	$	0	$	0	$	0	$	3,605	$	3,605	$	0
	Agricultural		6		4		12		22		1,773		1,795		12
Total Mortgage Loans		$	6	$	4	$	12	$	22	$	5,378	$	5,400	$	12
December 31, 2012
	Commercial	$	0	$	0	$	0	$	0	$	3,435	$	3,435	$	0
	Agricultural		6		1		10		17		1,641		1,658		9
Total Mortgage Loans		$	6	$	1	$	10	$	17	$	5,076	$	5,093	$	9

The following table provides information regarding impaired mortgage loans at June 30, 2013 and December 31, 2012, respectively.

Impaired Mortgage Loans
				Unpaid				Average		Interest
		Recorded		Principal		Related		Recorded		Income
		Investment		Balance		Allowance		Investment(1)		Recognized
		(In Millions)
June 30, 2013:
With no related allowance recorded:
	Commercial mortgage loans - other	$	0	$	0	$	0	$	0	$	0
	Agricultural mortgage loans		0		0		0		1		0
Total		$	0	$	0	$	0	$	1	$	0
With related allowance recorded:
	Commercial mortgage loans - other	$	126	$	126	$	(36)	$	141	$	2
	Agricultural mortgage loans		0		0		0		0		0
Total		$	126	$	126	$	(36)	$	141	$	2
December 31, 2012:
With no related allowance recorded:
	Commercial mortgage loans - other	$	0	$	0	$	0	$	0	$	0
	Agricultural mortgage loans		2		2		0		3		0
Total		$	2	$	2	$	0	$	3	$	0
With related allowance recorded:
	Commercial mortgage loans - other	$	170	$	170	$	(34)	$	178	$	10
	Agricultural mortgage loans		0		0		0		0		0
Total		$	170	$	170	$	(34)	$	178	$	10

• Represents a five-quarter average of recorded amortized cost.

Derivatives and Offsetting Assets and Liabilities

The Company has issued and continues to offer certain variable annuity products with GMDB, GMIB, and GIB features. The Company had previously issued certain variable annuity products with GWBL, GMWB and GMAB features (collectively, “GWBL and other features”). The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders' account balances would support. The risk associated with the GWBL and other features is that under-performance of the financial markets could result in GWBL and other features' benefits being higher than what accumulated policyholders' account balances would support. The Company uses derivatives for asset/liability risk management primarily to reduce exposures to equity market and interest rate fluctuations. Derivative hedging strategies are designed to reduce these risks from an economic perspective while also considering their impacts on accounting results. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, market volatility and interest rates.

A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits' exposures attributable to movements in the equity and fixed income markets. For GMDB, GMIB,GIB and GWBL and other features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual versus expected assumptions for mortality, lapse and surrender, withdrawal and contractholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMDB, GMIB,GIB and GWBL and otherfeatures that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps. The Company has purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company.

At the end of 2012, AXA Equitable adjusted its outlook for future interest ratescenariosfor some variable annuities with hedged GMDB and GMIB guarantees,as measured under AXA Equitable's hedging framework, leading to a reduction in their interest rate exposure. The reduced interest rate exposure led to AXA Equitable reducing the size of its interest rate hedges, as well as a change totheir maturity profile. In addition, AXA Equitable began to fully unwind its swap and swaption positions hedging exposure to interest rate volatility. AXA Equitable completed the full unwind in first quarter 2013.

GIB and GWBL and other features and the reinsurance contract asset covering GMIB exposure are considered derivatives for accounting purposes and, therefore, are reported in the balance sheet at their fair value. None of the derivatives used in these programs were designated as qualifying hedges under U.S. GAAP accounting guidance for derivatives and hedging. All gains (losses) on derivatives are reported in Net investment income (loss) in the consolidated statements of earnings (loss) except those resulting from changes in the fair values of the GIB and GWBL and other features which are reported in Policyholder's benefits and the GMIB reinsurance contract assetwhich is reported on a separate line in the consolidated statement of earnings.

The Company periodically, including during the first six months of 2013, has had in place a hedge program to partially protect against declining interest rates with respect to a part of its projected variable annuity sales.

The Company also uses equity and commodity index options to hedge its exposure to equity linked and commodity indexed crediting rates on certainannuity and life products.

Margins or “spreads” on interest-sensitive life insurance and annuity contracts are affected by interest rate fluctuations as the yield on portfolio investments, primarily fixed maturities, are intended to support required payments under these contracts, including interest rates credited to their policy and contract holders. The Company uses swaptions and swaps to reduce the risk associated with minimum crediting rate guarantees on these interest-sensitive contracts.

The Company's investment in Separate Account equity funds exposes the Company to equity market risk which is hedged through equity future derivative contracts to minimize such risk.

Beginning in second quarter 2013, the Company implemented a strategy in its General Account investment portfolio to replicate the credit exposure from fixed maturity securities otherwise permissible under its investment guidelines through the sale of credit default swaps. Under the terms of these swaps, the Company receives quarterly fixed premiums that, together with any initial amount paid or received at trade inception, replicate the credit spread otherwise currently obtainable by purchasing the referenced entity's fixed maturities of similar maturity. These credit derivatives have remaining terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in Net investment income (loss). The Company manages its credit exposure taking into consideration both cash and derivatives based positions and selects the reference entities in its replicated credit exposures in manner consistent with its selection of fixed maturities. In addition, the Companyhas transactedthe sale of credit default swaps exclusively in single name reference entities of investment grade credit quality and with counterparties subject to collateral posting requirements. If there is an event of default by the referenced entity or other such credit event as defined under the terms of the swap contract, the Company is obligated to perform under the credit derivative and, at the counterparty's option, either pay the referenced amount of the contract less an auction-determined recovery amount or pay the referenced amount of the contract and receive in return the defaulted or similar security of the referenced entity for recovery by sale at the contract settlement auction. To date, there have been no events of default or circumstances indicative of a deterioration in the credit quality of the named referenced entities to require or suggest that the Company will have to perform under these credit default swaps. The maximum potential amount of future payments the Company could be required to make under these credit derivatives is limited to the par value of the referenced securities which is the dollar-equivalent of the derivative notional amount. The Standard North American CDS Contract (“SNAC”) under which the Company executes these CDS sales transactions does not contain recourse provisions for recovery of amounts paid under the credit derivative.

The table below presents quantitative disclosures about the Company's derivative instruments, including those embedded in other contracts though required to be accounted for as derivative instruments.

	Derivative Instruments by Category
									Gains (Losses)
			At June 30, 2013						Reported In Net
					Fair Value				Earnings (Loss)
			Notional		Asset		Liability		Six Months Ended
			Amount		Derivatives		Derivatives		June 30, 2013
			(In Millions)
Freestanding derivatives:
Equity contracts:(1)
	Futures		$	5,578	$	2	$	0	$	(644)
	Swaps			1,366		30		47		(103)
	Options			4,826		657		372		124
Interest rate contracts:(1)
	Floors			2,400		227		0		(17)
	Swaps			11,745		305		510		(681)
	Futures			9,197		0		0		(154)
	Swaptions			0		0		0		(169)
Credit contracts:(1)
	Credit default swaps			305		4		4		(3)
Other freestanding contracts:(1)
	Foreign currency contracts			109		0		0		1
		Net investment income (loss)								(1,646)
Embedded derivatives:
GMIB reinsurance contracts				0		8,707		0		(2,337)
GIB and GWBL and other features(2)				0		0		130		135
Total, June 30, 2013			$	35,526	$	9,932	$	1,063	$	(3,848)

• Reported in Other invested assets in the consolidated balance sheets.
• Reported in Future policy benefits and other policyholders' liabilities.

									Gains (Losses)
			At December 31, 2012						Reported In Net
					Fair Value				Earnings (Loss)
			Notional		Asset		Liability		Six Months Ended
			Amount		Derivatives		Derivatives		June 30, 2012
			(In Millions)
Freestanding derivatives:
Equity contracts:(1)
	Futures		$	6,189	$	0	$	2	$	(560)
	Swaps			965		2		56		(137)
	Options			3,492		443		219		11
Interest rate contracts:(1)
	Floors			2,700		291		0		42
	Swaps			18,239		554		353		354
	Futures			14,033		0		0		147
	Swaptions			7,608		502		0		100
Other freestanding contracts:(1)
	Foreign currency contracts			81		1		0		1
		Net investment income (loss)								(42)
Embedded derivatives:
GMIB reinsurance contracts				0		11,044		0		834
GIB and GWBL and other features(2)				0		0		265		(43)
Total			$	53,307	$	12,837	$	895	$	749

• Reported in Other invested assets in the consolidated balance sheets.
• Reported in Future policy benefits and other policyholders' liabilities.

At June 30, 2013, the Company had open exchange-traded futures positions on the S&P 500, Russell 1000, NASDAQ 100 and Emerging Market indices, having initial margin requirements of $226 million. At June 30, 2013, the Company had open exchange-traded futures positions on the 2-year, 5-year, 10-year, 30-year U.S. Treasury Notes and Eurodollars having initial margin requirements of $53million. At that same date, the Company had open exchange-traded future positions on the Euro Stoxx, FTSE 100, European, Australia, Far East (“EAFE”) and Topix indices as well as corresponding currency futures on the Euro/U.S. dollar, Yen/U.S. dollar and Pound/U.S. dollar, having initial margin requirements of $7million. All outstanding equity-based and treasury futures contracts at June 30, 2013 are exchange-traded and net settled daily in cash.

Although notional amount is the most commonly used measure of volume in the derivatives market, it is not used as a measure of credit risk. A derivative with positive fair value (a derivative asset) indicates existence of credit risk because the counterparty would owe money to the Company if the contract were closed at the reporting date. Alternatively, a derivative contract with negative fair value (a derivative liability) indicates the Company would owe money to the counterparty if the contract were closed. To reduce credit exposures, the Company generally enters into over-the-counter (“OTC”) derivative transactions pursuant to master agreements that provide for a netting of financial exposures with the counterparty and allow for collateral arrangements. The Company further controls and minimizes its counterparty exposure through a credit appraisal and approval process.

The standardized “ISDA Master Agreement” under which the Company conducts its OTC derivative transactions includes provisions for payment netting. In the normal course of business activities, if there is more than one derivative transaction with a single counterparty, the Company will set-off the cash flows of those derivatives into a single amount to be exchanged in settlement of the resulting net payable or receivable with that counterparty. In the event of default, insolvency, or other similar event pre-defined under the ISDA Master Agreement that would result in termination of OTC derivatives transactions before their maturity, netting procedures would be applied to calculatea single net payable or receivable with the counterparty.

Under the ISDA Master Agreement, the Companygenerally has executed a Credit Support Annex (“CSA”) witheach of its OTC derivative counterparties that require both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities or those issued by government agencies. These CSAs are bilateral agreements that require collateral postings by the party “out-of-the-money” or in a net derivative liability position. Various thresholds for the amount and timing of collateralization of net liability positions are applicable. Consequently, the credit exposure of the Company's OTC derivative contracts is limited to the net positive estimated fair value of those contracts at the reporting date after taking into consideration the existence of netting agreements and any collateral received pursuant to CSAs. Derivatives are recognized at fair value in the consolidated balance sheets and are reported either as assets in Other invested assets or as liabilities in Other liabilities, except for embedded insurance-related derivatives as earlier described above and derivatives transacted with a related counterparty. The Company nets the fair value of all derivative financial instruments with counterparties for which anISDA Master Agreement and related CSA have been executed.

At June 30, 2013 and December 31, 2012, respectively, the Company held $380 million and $1,165 million in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. This unrestricted cash collateral is reported in Cash and cash equivalents, and the obligation to return it is reported in Other liabilities in the consolidated balance sheets. The aggregate fair value of all collateralized derivative transactions that were in a liability position at June 30, 2013 and December 31, 2012, respectively, were $205 million and $5 million, for which the Company posted collateral of $351 million and $5 million at June 30, 2013 and December 31, 2012, respectively, in the normal operation of its collateral arrangements.Certain of the Company'sISDA Master Agreements contain contingent provisions that permit the counterparty to terminate the ISDA Master Agreement if the Company's credit rating falls below a specified threshold, however, the occurrence of such credit event would not impose additional collateral requirements.

On June 10, 2013, new derivative regulations under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act went into effect, requiring financial entities, including U.S. life insurers, to clear newly executed OTC interest rate swaps on central clearing houses, and to post larger sums of higher quality collateral, among other provisions. Counterparties subject to these new regulations are required to post initial margin to the clearing house as well as variation margin to cover any daily negative mark-to-market movements in the value of newly executed OTC interest rate swap contracts. Centrally cleared OTC interest rate swap contracts, protected by initial margin requirements and higher quality collateral-eligible assets, are expected to reduce the risk of loss in the event of counterparty default. The Company has counterparty exposure to the clearing house and its clearing broker for futures and OTC derivative contracts. No significant impacts resulted in second quarter from the Company's compliance with these new regulations as existing derivative positions are grandfathered. Similarly, the Company does not expect the new regulations to materially increase the amount or change the quality of collateral that otherwise would have been imposed directly with its counterparties under CSAs.

The following table presents information about the Insurance Segment's offsetting of financial assets and liabilities and derivative instruments atJune 30, 2013.

Offsetting of Financial Assets and Liabilities and Derivative Instruments
At June 30, 2013
				Gross
		Gross		Amounts		Net Amounts
		Amounts		Offset in the		Presented in the
		Recognized		Balance Sheets		Balance Sheets
		(In Millions)
ASSETS(1)
Description
Derivatives:
Equity contracts		$	682	$	418	$	264
Interest rate contracts			456		510		(54)
Credit contracts			3		3		0
	Total Derivatives, subject to an ISDA Master Agreement		1,141		931		210
Total Derivatives, not subject to an ISDA Master Agreement			75		0		75
Total Derivatives			1,216		931		285
Other financial instruments			1,049		0		1,049
	Other invested assets	$	2,265	$	931	$	1,334
LIABILITIES(2)
Description
Derivatives:
Equity contracts		$	418	$	418	$	0
Interest rate contracts			510		510		0
Credit contracts			3		3		0
	Total Derivatives, subject to an ISDA Master Agreement		931		931		0
Total Derivatives, not subject to an ISDA Master Agreement			0		0		0
Total Derivatives			931		931		0
Other financial liabilities			2,790		0		2,790
	Other liabilities	$	3,721	$	931	$	2,790

• Excludes Investment Management segment's $9million net derivative assets and $109 million of securities borrowed.
• Excludes Investment Management segment's $2 million net derivative liability and $45 million of securities loaned.

The following table presents information about the Insurance segment's gross collateral amounts that are not offset in the consolidated balance sheets at June 30, 2013.

Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets
At June 30, 2013
		Net Amounts		Collateral (Received)/Held
		Presented in the			Financial				Net
		Balance Sheets			Instruments		Cash		Amounts
		(In Millions)
Counterparty A		$	38		$	0	$	(17)	$	21
Counterparty B			6			0		(1)		5
Counterparty C			(51)			0		51		0
Counterparty D			212			0		(204)		8
Counterparty E			(14)			0		14		0
Counterparty F			(35)			0		35		0
Counterparty G			73			0		(73)		0
Counterparty H			(24)			0		24		0
Counterparty I			(50)			0		50		0
Counterparty J			(30)			0		30		0
Counterparty K			15			0		(14)		1
Counterparty L			41			0		(35)		6
Counterparty M			29			0		(29)		0
Counterparty N			75			0		0		75
	Total Derivatives	$	285		$	0	$	(169)	$	116
Other financial instruments			1,049			0		0		1,049
	Other invested assets	$	1,334		$	0	$	(169)	$	1,165

The following table presents information about the Insurance segment's offsetting of financial assets and liabilities and derivative instruments at December 31, 2012.

Offsetting of Financial Assets and Liabilities and Derivative Instruments
At December 31, 2012
				Gross
		Gross		Amounts		Net Amounts
		Amounts		Offset in the		Presented in the
		Recognized		Balance Sheets		Balance Sheets
		(In Millions)
ASSETS(1)
Description
Derivatives:
Equity contracts		$	444	$	272	$	172
Interest rate contracts			1,251		351		900
	Total Derivatives, subject to an ISDA Master Agreement		1,695		623		1,072
Total Derivatives, not subject to an ISDA Master Agreement			96		0		96
Total Derivatives			1,791		623		1,168
Other financial instruments			660		0		660
	Other invested assets	$	2,451	$	623	$	1,828
LIABILITIES(2)
Description
Derivatives:
Equity contracts		$	272	$	272	$	0
Interest rate contracts			351		351		0
	Total Derivatives, subject to an ISDA Master Agreement		623		623		0
Total Derivatives, not subject to an ISDA Master Agreement			0		0		0
Total Derivatives			623		623		0
Other financial liabilities			3,503		0		3,503
	Other liabilities	$	4,126	$	623	$	3,503

• Excludes Investment Management segment's $2 million net derivative assets and $106 million of securities borrowed.
• Excludes Investment Management segment's $7 million net derivative liability and$13 million of securities loaned.

The following table presents information about the Insurance segment's gross collateral amounts that are not offset in the consolidated balance sheets at December 31, 2012.

Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets
At December 31, 2012
		Net Amounts		Collateral (Received)/Held
		Presented in the			Financial				Net
		Balance Sheets			Instruments		Cash		Amounts
		(In Millions)
Counterparty A		$	30		$	0	$	(30)	$	0
Counterparty B			32			0		(29)		3
Counterparty C			55			0		(55)		0
Counterparty D			310			0		(310)		0
Counterparty E			38			0		(38)		0
Counterparty F			326			0		(326)		0
Counterparty G			55			0		(55)		0
Counterparty H			(5)			0		5		0
Counterparty I			98			0		(98)		0
Counterparty J			19			0		(19)		0
Counterparty K			15			0		(3)		12
Counterparty L			48			(46)		0		2
Counterparty M			51			0		(51)		0
Counterparty N			96			0		0		96
	Total Derivatives	$	1,168		$	(46)	$	(1,009)	$	113
Other financial instruments			660			0		0		660
	Other invested assets	$	1,828		$	(46)	$	(1,009)	$	773

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CLOSED BLOCKS (TABLES)

6 Months Ended

Jun. 30, 2013

Closed Block Assets And Liabilities Tables [Abstract]

Schedule Of Closed Block Assets And Liabilities

			June 30,		December 31,
			2013		2012
			(In Millions)
CLOSED BLOCK LIABILITIES:
Future policy benefits, policyholders’ account balances and other			$	7,806	$	7,942
Policyholder dividend obligation				166		373
Other liabilities				93		192
Total Closed Block liabilities				8,065		8,507
ASSETS DESIGNATED TO THE CLOSED BLOCK:
Fixed maturities, available for sale, at fair value (amortized cost of $5,050 and $5,245)				5,336		5,741
Mortgage loans on real estate				1,251		1,255
Policy loans				969		1,026
Cash and other invested assets				78		30
Other assets				192		204
Total assets designated to the Closed Block				7,826		8,256
Excess of Closed Block liabilities over assets designated to the Closed Block				239		251
Amounts included in accumulated other comprehensive income (loss):
	Net unrealized investment gains (losses), net of deferred income tax (expense) benefit
		of $(45) and $(47) and policyholder dividend obligation of $(166) and $(373)		84		87
Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities			$	323	$	338

Closed Block Operations Net Results [Abstract]

Schedule Of Closed Block Revenue And Expenses [Table Text Block]

		Three Months Ended				Six Months Ended
		June 30,				June 30,
	2013		2012		2013		2012
	(In Millions)
REVENUES:
Premiums and other income	$	73	$	79	$	148	$	160
Net investment income (loss)		100		105		209		212
Net investment gains (losses)		(5)		(6)		(8)		(10)
Total revenues		168		178		349		362
BENEFITS AND OTHER DEDUCTIONS:
Policyholders’ benefits and dividends		173		198		325		385
Other operating costs and expenses		0		0		1		0
Total benefits and other deductions		173		198		326		385
Net revenues before income taxes		(5)		(20)		23		(23)
Income tax (expense) benefit		2		7		(8)		8
Net Revenues (Losses)	$	(3)	$	(13)	$	15	$	(15)

Closed Block Dividend Obligation [Table Text Block]

		Six Months Ended
		June 30,
	2013		2012
	(In Millions)
Balances, beginning of year	$	373	$	260
Unrealized investment gains (losses)		(207)		45
Balances, End of Period	$	166	$	305

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Accumulated Other Comprehensive Income Loss [Abstract]
Unrealized Gain (Loss) on Investments	$ 375	$ 1,204	$ 375	$ 1,204
Defined benefit pension plans	(1,001)	(1,134)	(1,001)	(1,134)
Total accumulated other comprehensive income (loss)	(626)	70	(626)	70
Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest	30	14	30	14
Total accumulated other comprehensive income (loss) Attributable to AXA Equitable	(596)	84	(596)	84	317
Unrealized Gain (Loss) On Investments
Net unrealized gains (losses) arising during the period	(1,545)	627	(1,851)	603
(Gains) losses reclassified into net earnings (loss) during the period	19	21	32	22
Net unrealized gains (losses) on investments	(1,526)	648	(1,819)	625
Adjustments for policyholders liabilities, DAC, deferred income taxes and insurance liability loss recognition	705	(263)	842	(193)
Change in unrealized gains (losses), net of adjustments	(821)	385	(977)	432
Change in defined benefit plans:
Net gain (loss) arising during the period	25	(27)	0	(52)
Less: Reclassification Adjustments to net earnings (loss) for:
Amortization of net prior service credit included in net periodic cost	55	0	55	0
Change in defined benefit plans	80	(27)	55	(52)
Total other comprehensive income (loss), net of income taxes	(741)	358	(922)	380
Less: Other comprehensive (income) loss attributable to noncontrolling interest	5	2	9	1
Other Comprehensive Income (Loss) Attributable to AXA Equitable	$ (736)	$ 360	$ (913)	$ 381

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RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

11)RELATED PARTY TRANSACTIONS

AXA Equitable reimburses AXA Financial for expenses relating to the Excess Retirement Plan, Supplemental Executive Retirement Plan and certain other employee benefit plans that provide participants with medical, life insurance, and deferred compensation benefits. Such reimbursement was based on the cost to AXA Financial of the benefits provided which totaled $11 million, $23 million, $12 million and $24 million, respectively, for thesecond quarter and first six monthsof 2013 and 2012.

AXA Equitable paid $156 million, $308 million, $174 million and $366 million, respectively, of commissions and fees to AXA Distribution and its subsidiaries for sales of insurance products for the second quarter and first six monthsof 2013 and 2012. AXA Equitable charged AXA Distribution's subsidiaries $61 million, $141 million, $102 million and $207 million, respectively, for their applicable share of operating expenses for the second quarter and first six monthsof 2013 and 2012, pursuant to the Agreements for Services.

At June 30, 2013 and December 31, 2012, the Company's GMIB reinsurance asset with AXA REArizonaCompany (formerly AXA Bermuda, which during second quarter 2012, redomesticated from Bermudato Arizona and changed its name to AXA RE Arizona Company)(“AXA Arizona”) had carrying values of $7,042million and $8,888million, respectively, and is reported in Guaranteed minimum income benefit reinsurance contract asset, at fair value in the consolidated balance sheets. Ceded premiums to AXA Arizonain the second quarter and first six months of 2013 and 2012 related to the UL and no lapse guarantee riders totaled approximately $122 million, $238 million, $120 million and $237 million, respectively. Ceded claims paid in the second quarter and first six months of 2013 and 2012 were $16 million, $35 million, $19 million and $35 million, respectively.

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FAIR VALUE DISCLOSURES 1 (DETAILS) (USD $) In Millions, unless otherwise specified	6 Months Ended		12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Available-for-sale Securities, Fair Value Disclosure	$ 31,324		$ 33,631
Fair Value Freestanding Contract	292		1,163
Freestanding Contract As Percentage Of Other Invested Assets	70.50%		92.20%
Fair Value Adjustments On Over Counter Derivative Assets	1
Fair Value Adjustments On GMIB Asset	341		447
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	23	99
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	5	7
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Percentage	0.20%	0.70%
Fair Value Inputs Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Percentage Of Assets Measured At Fair Value On Recurring Basis By Inputs Level	72.50%		70.30%
Fair Value Inputs Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Percentage Of Assets Measured At Fair Value On Recurring Basis By Inputs Level	26.40%		28.40%
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value	1,043		1,966
Fair Value Inputs Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Percentage Of Assets Measured At Fair Value On Recurring Basis By Inputs Level	1.10%		1.30%
Fair Value Disclosures Broker Priced	213		222
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value	878		1,021
Fair Value, Debt Instrument, Valuation Techniques, Change in Technique, Quantification of Effect	147
Public Fixed Maturities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Available-for-sale Securities, Fair Value Disclosure	23,439		25,591
Percentage Of Available For Sale Fixed Maturity Assets Measured At Fair Value On Recurring Basis	17.30%		19.20%
Private Fixed Maturities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Available-for-sale Securities, Fair Value Disclosure	7,861		8,016
Percentage Of Available For Sale Fixed Maturity Assets Measured At Fair Value On Recurring Basis	5.80%		6.00%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	$ 19

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (DETAILS1) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2013
Pension Liability [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount	$ 83
Other Comprehensive Income (Loss) [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount	55
Deferred Income Tax Asset Liability [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount	$ 28

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INVESTMENTS (Derivatives) (DETAILS1) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Investments, Debt and Equity Securities [Abstract]
Cash And Securities Collateral For Derivative Contract	$ 380	$ 1,165
Collateralized derivative transactions	205	5
Cash and securities collateral	351	5
Sp500 Russell1000 Nasdaq100 And Emerging Market Indices [Member]
Exchange Traded Future Contract [Line Items]
Exchange-Traded Future Contract, Initial Margin Requirement	226
Us Treasury Notes And Euro Dollar [Member]
Exchange Traded Future Contract [Line Items]
Exchange-Traded Future Contract, Initial Margin Requirement	53
Euro Stoxx Ftse 100 Eafe And Topix Indices [Member]
Exchange Traded Future Contract [Line Items]
Exchange-Traded Future Contract, Initial Margin Requirement	$ 7

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EMPLOYEE BENEFIT PLANS (TABLES)

6 Months Ended

Jun. 30, 2013

Employee Benefit Plans [Abstract]

Employee Benefit Plans Net Periodic Pension Expense [Table Text Block]

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In Millions)
Net Periodic Pension Expense:
(Qualified and Non-qualified Plans)
Service cost	$	11	$	11	$	22	$	22
Interest cost		24		27		47		53
Expected return on assets		(39)		(35)		(77)		(69)
Net amortization		41		41		82		82
Net Periodic Pension Expense	$	37	$	44	$	74	$	88

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FAIR VALUE DISCLOSURES (TABLES)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures Tables [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Fair Value Measurements at June 30, 2013
				Level 1		Level 2		Level 3		Total
				(In Millions)
Assets:
Investments:
	Fixed maturities, available-for-sale:
		Corporate		$	6	$	21,801	$	219	$	22,026
		U.S. Treasury, government and agency			0		5,273		0		5,273
		States and political subdivisions			0		444		49		493
		Foreign governments			0		441		17		458
		Commercial mortgage-backed			0		18		780		798
		Residential mortgage-backed(1)			0		1,017		6		1,023
		Asset-backed(2)			0		51		101		152
		Redeemable preferred stock			256		806		15		1,077
			Subtotal		262		29,851		1,187		31,300
	Other equity investments				153		0		61		214
	Trading securities				412		2,807		0		3,219
	Other invested assets:
		Short-term investments			0		122		0		122
		Swaps			0		(222)		0		(222)
		Futures			2		0		0		2
		Options			0		285		0		285
		Floors			0		227		0		227
		Swaptions			0		0		0		0
			Subtotal		2		412		0		414
Cash equivalents					792		0		0		792
Segregated securities					0		835		0		835
GMIB reinsurance contracts					0		0		8,707		8,707
Separate Accounts' assets					96,716		2,734		216		99,666
		Total Assets		$	98,337	$	36,639	$	10,171	$	145,147
Liabilities
GWBL and other features' liability				$	0	$	0	$	130	$	130
		Total Liabilities		$	0	$	0	$	130	$	130

Fair Value Measurements at December 31, 2012
				Level 1		Level 2		Level 3		Total
				(In Millions)
Assets:
Investments:
	Fixed maturities, available-for-sale:
		Corporate		$	6	$	22,837	$	355	$	23,198
		U.S. Treasury, government and agency			0		5,180		0		5,180
		States and political subdivisions			0		480		50		530
		Foreign governments			0		511		19		530
		Commercial mortgage-backed			0		0		900		900
		Residential mortgage-backed(1)			0		1,940		9		1,949
		Asset-backed(2)			0		69		113		182
		Redeemable preferred stock			242		881		15		1,138
			Subtotal		248		31,898		1,461		33,607
	Other equity investments				78		0		77		155
	Trading securities				446		1,863		0		2,309
	Other invested assets:
		Short-term investments			0		98		0		98
		Swaps			0		148		0		148
		Futures			(2)		0		0		(2)
		Options			0		224		0		224
		Floors			0		291		0		291
		Swaptions			0		502		0		502
			Subtotal		(2)		1,263		0		1,261
Cash equivalents					2,289		0		0		2,289
Segregated securities					0		1,551		0		1,551
GMIB reinsurance contracts					0		0		11,044		11,044
Separate Accounts' assets					90,751		2,775		224		93,750
		Total Assets		$	93,810	$	39,350	$	12,806	$	145,966
Liabilities:
GWBL and other features' liability				$	0	$	0	$	265	$	265
		Total Liabilities		$	0	$	0	$	265	$	265

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Text Block]

Level 3 Instruments
Fair Value Measurements
							State and
							Political				Commercial		Residential
							Sub-		Foreign		Mortgage-		Mortgage-		Asset-
					Corporate		divisions		Govts		backed		backed		backed
					(In Millions)
Balance, April 1, 2013					$	327	$	50	$	20	$	929	$	7	$	108
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			1		0		0		(1)		0		0
			Investment gains (losses), net			2		0		0		(37)		0		0
				Subtotal		3		0		0		(38)		0		0
		Other comprehensive income (loss)				(3)		(1)		0		(92)		0		(1)
Purchases						0		0		(2)		0		0		0
Issues						0		0		0		0		0		0
Sales						(113)		0		0		(2)		(1)		(6)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						5		0		0		0		0		0
Transfers out of Level 3(1)						0		0		(1)		(17)		0		0
Balance, June 30, 2013					$	219	$	49	$	17	$	780	$	6	$	101
Balance, April 1, 2012					$	394	$	52	$	20	$	933	$	12	$	165
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			0		0		0		0		0		0
			Investment gains (losses), net			0		0		0		(51)		0		0
				Subtotal		0		0		0		(51)		0		0
		Other comprehensive income (loss)				(2)		0		0		41		0		(1)
Purchases						25		0		0		0		0		0
Issues						0		0		0		0		0		0
Sales						(21)		0		0		(17)		(1)		(7)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						5		0		0		0		0		0
Transfers out of Level 3(1)						(18)		0		(20)		0		0		(18)
Balance, June 30, 2012					$	383	$	52	$	0	$	906	$	11	$	139

							State and
							Political				Commercial		Residential
							Sub-		Foreign		Mortgage-		Mortgage-		Asset-
					Corporate		divisions		Govts		backed		backed		backed
					(In Millions)
Balance, January 1, 2013					$	355	$	50	$	19	$	900	$	9	$	113
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			1		0		0		(1)		0		0
			Investment gains (losses), net			3		0		0		(57)		0		0
				Subtotal		4		0		0		(58)		0		0
		Other comprehensive income (loss)				2		0		(2)		(42)		0		0
Purchases						0		0		0		0		0		0
Issues						0		0		0		0		0		0
Sales						(142)		(1)		0		(2)		(3)		(12)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						5		0		0		0		0		0
Transfers out of Level 3(1)						(5)		0		0		(18)		0		0
Balance, June 30, 2013					$	219	$	49	$	17	$	780	$	6	$	101
Balance, January 1, 2012					$	432	$	53	$	22	$	902	$	14	$	172
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			0		0		0		1		0		0
			Investment gains (losses), net			0		0		0		(54)		0		0
				Subtotal		0		0		0		(53)		0		0
		Other comprehensive income (loss)				1		0		0		78		0		0
Purchases						25		0		0		0		0		0
Issues						0		0		0		0		0		0
Sales						(25)		(1)		0		(21)		(3)		(13)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						7		0		0		0		0		0
Transfers out of Level 3(1)						(57)		0		(22)		0		0		(20)
Balance, June 30, 2012					$	383	$	52	$	0	$	906	$	11	$	139

						Redeem-										GWBL
						able		Other		Other		GMIB		Separate		and Other
						Preferred		Equity		Invested		Reinsurance		Accounts		Features
						Stock		Investments(1)		Assets		Asset		Assets		Liability
						(In Millions)
Balance, April 1, 2013						$	15	$	75	$	0	$	9,856	$	221	$	173
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		0		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contract asset			0		0		0		(1,203)		0		0
			Policyholders' benefits				0		0		0		0		0		(63)
					Subtotal		0		0		0		(1,203)		0		(63)
		Other comprehensive income (loss)					0		(14)		0		0		0		0
Purchases							0		0		0		61		0		20
Issues							0		0		0		0		0		0
Sales							0		0		0		(7)		(5)		0
Settlements							0		0		0		0		0		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		0		0		0		0
Balance, June 30, 2013						$	15	$	61	$	0	$	8,707	$	216	$	130
Balance, April 1, 2012						$	14	$	59	$	(59)	$	8,704	$	221	$	193
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		1		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contract asset			0		0		0		2,631		0		0
			Policyholders' benefits				0		0		0		0		0		129
					Subtotal		0		0		0		2,631		1		129
		Other comprehensive income (loss)					1		(1)		0		0		0		0
Purchases							0		0		0		60		6		12
Issues							0		0		0		0		0		0
Sales							0		0		0		(14)		(4)		0
Settlements							0		0		0		0		(1)		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		59		0		(1)		0
Balance, June 30, 2012						$	15	$	58	$	0	$	11,381	$	222	$	334

						Redeem-										GWBL
						able		Other		Other		GMIB		Separate		and Other
						Preferred		Equity		Invested		Reinsurance		Accounts		Features
						Stock		Investments(1)		Assets		Asset		Assets		Liability
						(In Millions)
Balance, January 1, 2013						$	15	$	77	$	0	$	11,044	$	224	$	265
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		(5)		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contracts			0		0		0		(2,437)		0		0
			Policyholders' benefits				0		0		0		0		0		(171)
					Subtotal		0		0		0		(2,437)		(5)		(171)
		Other comprehensive income (loss)					0		(16)		0		0		0		0
Purchases							0		0		0		121		0		36
Issues							0		0		0		0		0		0
Sales							0		0		0		(21)		(2)		0
Settlements							0		0		0		0		(1)		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		0		0		0		0
Balance, June 30, 2013						$	15	$	61	$	0	$	8,707	$	216	$	130
Balance, January 1, 2012						$	14	$	77	$	(2)	$	10,547	$	215	$	291
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		4		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contracts			0		0		0		743		0		0
			Policyholders' benefits				0		0		0		0		0		25
					Subtotal		0		0		0		743		4		25
		Other comprehensive income (loss)					1		(19)		0		0		0		0
Purchases							0		0		0		121		7		18
Issues							0		0		0		0		0		0
Sales							0		0		0		(30)		(2)		0
Settlements							0		0		0		0		(2)		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		2		0		0		0
Balance, June 30, 2012						$	15	$	58	$	0	$	11,381	$	222	$	334

Fair Value Assets Unrealized Gains Losses By Category For Level 3 Assets And Liabilities Still Held [Table Text Block]

					Earnings (Loss)
									Increase
					Net		Investment		(Decrease) in the
					Investment		Gains		Fair Value of the				Policy-
					Income		(Losses),		Reinsurance				holders'
					(Loss)		Net		Contract Asset		OCI		Benefits
					(In Millions)
Level 3 Instruments
Second Quarter 2013
Held at June 30, 2013:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	(4)	$	0
			State and political subdivisions			0		0		0		(1)		0
			Foreign governments			0		0		0		(2)		0
			Commercial mortgage-backed			0		0		0		(90)		0
			Asset-backed			0		0		0		(1)		0
			Other fixed maturities, available-for-sale			0		0		0		0		0
				Subtotal	$	0	$	0	$	0	$	(98)	$	0
		Other equity investments				0		0		0		0		0
		GMIB reinsurance contracts				0		0		(1,149)		0		0
		Separate Accounts’ assets				0		(5)		0		0		0
		GWBL and other features’ liability				0		0		0		0		43
				Total	$	0	$	(5)	$	(1,149)	$	(98)	$	43
Level 3 Instruments
Second Quarter 2012
Held at June 30, 2012:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	(2)	$	0
			Commercial mortgage-backed			0		0		0		40		0
			Asset-backed			0		0		0		(1)		0
			Other fixed maturities, available-for-sale			0		0		0		0		0
				Subtotal	$	0	$	0	$	0	$	37	$	0
		Other equity investments				0		0		0		(1)		0
		GMIB reinsurance contracts				0		0		2,677		0		0
		Separate Accounts’ assets				0		1		0		0		0
		GWBL and other features’ liability				0		0		0		0		(141)
				Total	$	0	$	1	$	2,677	$	36	$	(141)

					Earnings (Loss)
									Increase
					Net		Investment		(Decrease) in
					Investment		Gains		Fair Value of				Policy-
					Income		(Losses),		Reinsurance				holders'
					(Loss)		Net		Contracts		OCI		Benefits
					(In Millions)
Level 3 Instruments
First Six Months of 2013
Held at June 30, 2013:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	2	$	0
			Commercial mortgage-backed			0		0		0		(47)		0
			Asset-backed			0		0		0		0		0
			Other fixed maturities, available-for-sale			0		0		0		(2)		0
				Subtotal	$	0	$	0	$	0	$	(47)	$	0
		Other equity investments				0		0		0				0
		GMIB reinsurance contracts				0		0		(2,337)		0		0
		Separate Accounts’ assets				0		(5)		0		0		0
		GWBL and other features’ liability				0		0		0		0		135
				Total	$	0	$	(5)	$	(2,337)	$	(47)	$	135
Level 3 Instruments
First Six Months of 2012
Held at June 30, 2012:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	1	$	0
			Commercial mortgage-backed			0		0		0		78		0
			Asset-backed			0		0		0		0		0
			Other fixed maturities, available-for-sale			0		0		0		0		0
				Subtotal	$	0	$	0	$	0	$	79	$	0
		Other equity investments				0		0		0		(19)		0
		GMIB reinsurance contracts				0		0		834		0		0
		Separate Accounts’ assets				0		3		0		0		0
		GWBL and other features’ liability				0		0		0		0		(43)
				Total	$	0	$	3	$	834	$	60	$	(43)

Fair Value Inputs Quantitative Information [Table Text Block]

Quantitative Information about Level 3 Fair Value Measurements
June 30, 2013
			Fair		Valuation		Significant
			Value		Technique		Unobservable Input		Range
Assets:			(In Millions)
Investments:
	Fixed maturities, available-for-sale:
		Corporate	$	82	Matrix pricing model		Spread over the industry-specific
							benchmark yield curve		100 bps - 575 bps
		Residential mortgage-backed		1	Matrix pricing model		Spread over U.S. Treasury curve		45 bps
		Asset-backed		8	Matrix pricing model		Spread over U.S. Treasury curve		0 bps - 687 bps
	Other equity investments			25	Market comparable		Revenue multiple		0.7x - 62.5x
						companies	R&D multiple		1.0x - 32.4x
							Discount rate		18.0%
							Discount years		1.5
							Discount for lack of marketability
								and risk factors	50.0% - 60.0%
Separate Accounts' assets				197	Third party appraisal		Capitalization rate		5.4%
							Exit capitalization rate		6.5%
							Discount rate		7.6%
				15	Discounted cash flow		Spread over U.S. Treasury curve		252 bps - 355 bps
							Inflation rate		2.0% - 3.0%
							Discount factor		1.0% - 5.5%

GMIB reinsurance contracts		8,707	Discounted Cash flow	Lapse Rates	1.5% - 8.0%
				Withdrawal Rates	0.2% - 8.0%
				GMIB Utilization Rates	0.0% -15.0%
				Non-performance risk	11 bps - 43 bps
				Volatility rates - Equity	23.0% - 34.0%
Liabilities:
GMWB/GWBL(1)	$	128	Discounted Cash flow	Lapse Rates	1.0% - 8.0%
				Withdrawal Rates	0.0% - 7.0%
				Volatility rates - Equity	23.0% - 34.0%

Quantitative Information about Level 3 Fair Value Measurements
December 31, 2012
			Fair		Valuation		Significant
			Value		Technique		Unobservable Input		Range
Assets:			(In Millions)
Investments:
	Fixed maturities, available-for-sale:
		Corporate	$	94	Matrix pricing model		Spread over the industry-specific
							benchmark yield curve		125 bps - 650 bps
		Commercial mortgage-backed		889	Discounted Cash flow		Constant default rate		3.0% - 25.0%
							Probability of default		55.0%
							Loss severity		49.0%
							Discount rate		3.72% - 13.42%
		Residential mortgage-backed		1	Matrix pricing model		Spread over U.S. Treasury curve		46 bps
		Asset-backed		8	Matrix pricing model		Spread over U.S. Treasury curve		30 bps - 695 bps
	Other equity investments			38	Market comparable		Revenue multiple		0.6x - 62.5x
						companies	R&D multiple		1.0x - 30.6x
							Discount rate		18.0%
							Discount years		1 - 2
							Discount for lack of marketability
								and risk factors	40.0% - 60.0%
Separate Accounts' assets				194	Third party appraisal		Capitalization rate		5.5%
							Exit capitalization rate		6.6%
							Discount rate		7.7%
				22	Discounted cash flow		Spread over U.S. Treasury curve		275 bps - 586 bps
							Inflation rate		2.0% - 3.0%
							Discount factor		1.0% - 2.0%

GMIB reinsurance contracts		11,044	Discounted Cash flow	Lapse Rates	1.5% - 8.0%
				Withdrawal Rates	0.2% - 8.0%
				GMIB Utilization Rates	0.0% - 15.0%
				Non-performance risk	13 bps - 45 bps
				Volatility rates - Equity	24.0%- 36.0%
Liabilities:
GMWB/GWBL(1)	$	205	Discounted Cash flow	Lapse Rates	1.0% - 8.0%
				Withdrawal Rates	0.0% - 7.0%
				Volatility rates - Equity	24.0% - 36.0%

Fair Value Disclosure Financial Instruments Not Carried At Fair Value [Table Text Block]

		June 30, 2013
		Carrying		Fair Value
		Value		Level 1		Level 2		Level 3		Total
		(In Millions)
Consolidated:
	Mortgage loans on real estate	$	5,364	$	0	$	0	$	5,502	$	5,502
	Other limited partnership interests		1,618		0		0		1,618		1,618
	Loans to affiliates		1,035		0		734		400		1,134
	Policyholders' liabilities: Investment contracts		2,466		0		0		2,557		2,557
	Long-term debt		200		0		229		0		229
	Loans from affiliates		825		0		960		0		960

		December 31, 2012
		Carrying		Fair Value
		Value		Level 1		Level 2		Level 3		Total
		(In Millions)
Consolidated:
	Mortgage loans on real estate	$	5,059	$	0	$	0	$	5,249	$	5,249
	Other limited partnership interests		1,514		0		0		1,514		1,514
	Loans to affiliates		1,037		0		784		402		1,186
	Policyholders' liabilities: Investment contracts		2,494		0		0		2,682		2,682
	Long-term debt		200		0		236		0		236
	Loans from affiliates		1,325		0		1,676		0		1,676

XML

GMDB, GMIB, GWBL AND NO LAPSE GUARANTEE FEATURES (DETAILS2) (USD $) In Millions, unless otherwise specified					6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2013 Direct Liabilities For Guarantees [Member]	Jun. 30, 2012 Direct Liabilities For Guarantees [Member]	Jun. 30, 2013 Ceded Liabilities For Guarantees [Member]	Jun. 30, 2012 Ceded Liabilities For Guarantees [Member]	Jun. 30, 2013 Net Liabilities For Guarantees [Member]	Jun. 30, 2012 Net Liabilities For Guarantees [Member]	Jun. 30, 2013 Guaranteed Minimum Death Benefit [Member]	Dec. 31, 2012 Guaranteed Minimum Death Benefit [Member]	Jun. 30, 2012 Guaranteed Minimum Death Benefit [Member]	Dec. 31, 2011 Guaranteed Minimum Death Benefit [Member]	Jun. 30, 2013 Guaranteed Minimum Income Benefit [Member]	Dec. 31, 2012 Guaranteed Minimum Income Benefit [Member]	Jun. 30, 2012 Guaranteed Minimum Income Benefit [Member]	Dec. 31, 2011 Guaranteed Minimum Income Benefit [Member]	Jun. 30, 2013 Common Stock [Member] Guaranteed Minimum Death Benefit [Member]	Dec. 31, 2012 Common Stock [Member] Guaranteed Minimum Death Benefit [Member]	Jun. 30, 2013 Common Stock [Member] Guaranteed Minimum Income Benefit [Member]	Dec. 31, 2012 Common Stock [Member] Guaranteed Minimum Income Benefit [Member]	Jun. 30, 2013 Fixed Income Investments [Member] Guaranteed Minimum Death Benefit [Member]	Dec. 31, 2012 Fixed Income Investments [Member] Guaranteed Minimum Death Benefit [Member]	Jun. 30, 2013 Fixed Income Investments [Member] Guaranteed Minimum Income Benefit [Member]	Dec. 31, 2012 Fixed Income Investments [Member] Guaranteed Minimum Income Benefit [Member]	Jun. 30, 2013 Balanced [Member] Guaranteed Minimum Death Benefit [Member]	Dec. 31, 2012 Balanced [Member] Guaranteed Minimum Death Benefit [Member]	Jun. 30, 2013 Balanced [Member] Guaranteed Minimum Income Benefit [Member]	Dec. 31, 2012 Balanced [Member] Guaranteed Minimum Income Benefit [Member]	Jun. 30, 2013 Other Investments [Member] Guaranteed Minimum Death Benefit [Member]	Dec. 31, 2012 Other Investments [Member] Guaranteed Minimum Death Benefit [Member]	Jun. 30, 2013 Other Investments [Member] Guaranteed Minimum Income Benefit [Member]	Dec. 31, 2012 Other Investments [Member] Guaranteed Minimum Income Benefit [Member]
Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Line Items]
Separate Account Investments by Investment Category											$ 80,600	$ 76,026			$ 50,597	$ 48,866			$ 57,647	$ 52,633	$ 35,677	$ 33,361	$ 3,376	$ 3,748	$ 2,052	$ 2,335	$ 19,063	$ 19,102	$ 12,624	$ 12,906	$ 514	$ 543	$ 244	$ 264
Price Risk Fair Value Hedge Derivative On Balance Sheet [Abstract]
Account Value Hedged of Variable Annuity Contracts											39,047				22,495
Net Amount At Risk Hedged of Variable Annuity Contracts											6,174				947
Liabilities For Guarantees On Long Duration Contracts [Line Items]
Balance, January 1,	6,317	6,333	6,006	5,723	556	470	(310)	(262)	246	208	1,782	1,772	1,639	1,593	4,535	4,561	4,367	4,130
Other changes in reserves					83	50	(48)	(23)	35	27
Balance, end of period	$ 6,317	$ 6,333	$ 6,006	$ 5,723	$ 639	$ 520	$ (358)	$ (285)	$ 281	$ 235	$ 1,782	$ 1,772	$ 1,639	$ 1,593	$ 4,535	$ 4,561	$ 4,367	$ 4,130

XML

INVESTMENTS (M Loans (DETAILS) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Financing Receivable, Modifications [Line Items]
Financing Receivable Modifications Number Of Contracts1	2
Financing Receivable Modifications Pre Modification Recorded Investment1	$ 126
Financing Receivable Modifications Post Modification Recorded Investment1	126
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	0	0
Financing Receivable Modifications Number Of Contracts1	2
Financing Receivable Modifications Pre Modification Recorded Investment1	126
Financing Receivable Modifications Post Modification Recorded Investment1	126
Agricultural Real Estate Portfolio Segment [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 0	$ 2

XML

INVESTMENTS (offsetting) (Details1) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Line Items Excluded From Tabular Disclosure [Abstract]
Derivative Liability, Fair Value, Net	$ 1,063	$ 895
Investment Management [Member]
Line Items Excluded From Tabular Disclosure [Abstract]
Derivative Liability, Fair Value, Net	2	7
Securities Loaned	45	13
Equity Contract [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	418	272
Gross amounts offset in the balance sheets	418	272
Net amounts presented in the balance sheets	0	0
Interest Rate Contract [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	510	351
Gross amounts offset in the balance sheets	510	351
Net amounts presented in the balance sheets	0	0
Credit Contracts [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	3
Gross amounts offset in the balance sheets	3
Net amounts presented in the balance sheets	0
Line Items Excluded From Tabular Disclosure [Abstract]
Derivative Liability, Fair Value, Net	4
Derivatives Subject to an ISDA Master Agreements [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	931	623
Gross amounts offset in the balance sheets	931	623
Net amounts presented in the balance sheets	0	0
Derivatives not subject to an ISDA Master Agreements [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	0	0
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	0	0
Total Derivatives [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	931	623
Gross amounts offset in the balance sheets	931	623
Net amounts presented in the balance sheets	0	0
Other Financial Liabilities [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	2,790	3,503
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	2,790	3,503
Other Liabilities [Member]
Offsetting Liabilities [Line Items]
Gross amount recognized	3,721	4,126
Gross amounts offset in the balance sheets	931	623
Net amounts presented in the balance sheets	$ 2,790	$ 3,503

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FAIR VALUE DISCLOSURES 2 (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Total Gains Losses Realized Unrealized Included In [Abstract]
Transfers into level 3			$ 5	$ 7
Transfers out of Level 3			(23)	(99)
Corporate Debt Securities [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	327	394	355	432
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	1	0	1	0
Investment (gains) losses, net	2	0	3	0
Subtotal	(3)	0	(4)	0
Other comprehensive income (loss)	(3)	(2)	2	1
Purchases	0	25	0	25
Sales	(113)	(21)	(142)	(25)
Transfers into level 3	5	5	5	7
Transfers out of Level 3	0	(18)	(5)	(57)
Closing Balance	219	383	219	383
Corporate Debt Securities [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	(4)	(2)	2	1
US States and Political Subdivisions Debt Securities [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	50	52	50	53
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	(1)	0	0	0
Purchases	0	0	0	0
Sales	0	0	(1)	(1)
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	49	52	49	52
US States and Political Subdivisions Debt Securities [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	(1)	0
Foreign Government Debt Securities [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	20	20	19	22
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	0	(2)	0
Purchases	(2)	0	0	0
Sales	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of Level 3	(1)	(20)	0	(22)
Closing Balance	17	0	17	0
Foreign Government Debt Securities [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	(2)
Commercial Mortgage Backed Securities [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	929	933	900	902
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	(1)	0	(1)	1
Investment (gains) losses, net	(37)	(51)	(57)	(54)
Subtotal	38	51	58	53
Other comprehensive income (loss)	(92)	41	(42)	78
Purchases	0	0	0	0
Sales	(2)	(17)	(2)	(21)
Transfers into level 3	0	0	0	0
Transfers out of Level 3	(17)	0	(18)	0
Closing Balance	780	906	780	906
Commercial Mortgage Backed Securities [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	(90)	40	(47)	78
Residential Mortgage Backed Securities [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	7	12	9	14
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	0
Sales	(1)	(1)	(3)	(3)
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	6	11	6	11
Asset-backed Securities [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	108	165	113	172
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	(1)	(1)	0	0
Purchases	0	0	0	0
Sales	(6)	(7)	(12)	(13)
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	(18)	0	(20)
Closing Balance	101	139	101	139
Asset-backed Securities [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	(1)	(1)	0	0
Redeemable Preferred Stock [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	15	14	15	14
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Increase (decrease) in the fair value of the reinsurance contracts	0	0	0	0
Policyholders' benefits	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	1	0	1
Purchases	0	0	0	0
Sales	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	15	15	15	15
Redeemable Preferred Stock [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)			0
Equity Method Investments [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	75	59	77	77
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Increase (decrease) in the fair value of the reinsurance contracts	0	0	0	0
Policyholders' benefits	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	(14)	(1)	(16)	(19)
Purchases	0	0	0	0
Sales	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	61	58	61	58
Equity Method Investments [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	0	(1)		(19)
Other Invested Assets [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	0	(59)	0	(2)
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Increase (decrease) in the fair value of the reinsurance contracts	0	0	0	0
Policyholders' benefits	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	59	0	2
Closing Balance	0	0	0	0
Other Invested Assets [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)			0
Gmib Reinsurance [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	9,856	8,704	11,044	10,547
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Increase (decrease) in the fair value of the reinsurance contracts	(1,203)	2,631	(2,437)	743
Policyholders' benefits	0	0	0	0
Subtotal	1,203	(2,631)	2,437	(743)
Other comprehensive income (loss)	0	0	0	0
Purchases	61	60	121	121
Sales	(7)	(14)	(21)	(30)
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	8,707	11,381	8,707	11,381
Gmib Reinsurance [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Increase (decrease) in the fair value of the reinsurance contracts	(1,149)	2,677	(2,337)	834
Separate Accounts [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	221	221	224	215
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	1	(5)	4
Investment (gains) losses, net	0	0	0	0
Increase (decrease) in the fair value of the reinsurance contracts	0	0	0	0
Policyholders' benefits	0	0	0	0
Subtotal	0	(1)	5	(4)
Other comprehensive income (loss)	0	0	0	0
Purchases	0	6	0	7
Sales	(5)	(4)	(2)	(2)
Settlements		(1)	(1)	(2)
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	(1)	0	0
Closing Balance	216	222	216	222
Separate Accounts [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Investment (gains) losses, net	(5)	1	(5)	3
Other comprehensive income (loss)	0	0	0	0
Guarantees [Member] | Fair Value Inputs Level 3 [Member]
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Opening Balance	173	193	265	291
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	0	0	0	0
Increase (decrease) in the fair value of the reinsurance contracts	0	0	0	0
Policyholders' benefits	(63)	129	(171)	25
Subtotal	63	(129)	171	(25)
Other comprehensive income (loss)	0	0	0	0
Purchases	20	12	36	18
Sales	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	130	334	130	334
Guarantees [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Policyholders' benefits	(43)	141	(135)	43
Other comprehensive income (loss)	0	0	0	0
Other Fixed Maturities Available For Sale [Member] | Fair Value Inputs Level 3 [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	0	0	(2)	0
Total Debt Maturities Available For Sale [Member] | Fair Value Inputs Level 3 [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Net Investment Income (Loss)	0	0	0	0
Investment (gains) losses, net	(5)	1	(5)	3
Increase (decrease) in the fair value of the reinsurance contracts	(1,149)	2,677	(2,337)	834
Policyholders' benefits	(43)	141	(135)	43
Other comprehensive income (loss)	(98)	36	(47)	60
Total Debt Maturities Available For Sale [Member] | Level 3 Assets And Liabilities Held [Member]
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	$ (98)	$ 37	$ (47)	$ 79

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INVESTMENTS (AVAILABLE FOR SALE SECURITIES) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 30,255		$ 30,255		$ 30,743
Gross Unrealized Gains	1,866		1,866		3,216
Gross Unrealized Losses	797		797		328
Fair Value	31,324		31,324		33,631
OTTI in AOCI (3)	29		29		18
Available For Sale Securities Debt Maturities Amortized Cost [Abstract]
Available For Sale Securities Debt Maturities Within One Year Amortized Cost	666		666
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Amortized Cost Basis	7,460		7,460
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Amortized Cost Basis	11,123		11,123
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis	7,699		7,699
Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis	26,948		26,948
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis	29,187		29,187
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value	672		672
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value	7,975		7,975
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value	11,720		11,720
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value	7,883		7,883
Available For Sale Securities Debt Maturities Single Maturity Date	28,250		28,250
Available For Sale Securities, Debt Maturities, Fair Value	30,223		30,223
Fixed Maturities - Credit Loss Impairments
Balances at beginning of period	384	334	372	332
Previously recognized impairments on securities that matured, paid, prepaid or sold	12	14	14	15
Impairments recognized this period on securities not previously impaired	35	17	49	20
Additional impairments this period on securities previously impaired	0	32	0	32
Balances at end of period	407	369	407	369
Available For Sale Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments [Abstract]
Proceeds From Sale Of Available For Sale Securities	912	28	1,172	28
Available For Sale Securities Gross Realized Gains	14	3	21	3
Available For Sale Securities Gross Realized Losses	(1)	(9)	(1)	(9)
Total other-than-temporary impairment losses	(50)	(50)	(64)	(53)
Portion of loss recognized in other comprehensive income (loss)	15	1	15	1
Credit losses recognized in earnings (loss)	(35)	(49)	(49)	(52)
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	20,670		20,670		20,854
Gross Unrealized Gains	1,527		1,527		2,364
Gross Unrealized Losses	171		171		20
Fair Value	22,026		22,026		23,198
OTTI in AOCI (3)	0		0		0
US Treasury and Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	5,420		5,420		4,664
Gross Unrealized Gains	119		119		517
Gross Unrealized Losses	266		266		1
Fair Value	5,273		5,273		5,180
OTTI in AOCI (3)	0		0		0
US States and Political Subdivisions Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	446		446		445
Gross Unrealized Gains	49		49		85
Gross Unrealized Losses	2		2		0
Fair Value	493		493		530
OTTI in AOCI (3)	0		0		0
Foreign Government Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	412		412		454
Gross Unrealized Gains	50		50		76
Gross Unrealized Losses	4		4		0
Fair Value	458		458		530
OTTI in AOCI (3)	0		0		0
Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	1,113		1,113		1,175
Gross Unrealized Gains	14		14		16
Gross Unrealized Losses	329		329		291
Fair Value	798		798		900
OTTI in AOCI (3)	25		25		13
Available For Sale Securities Debt Maturities Amortized Cost [Abstract]
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	1,113		1,113
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	798		798
Residential Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	980		980		1,864
Gross Unrealized Gains	43		43		85
Gross Unrealized Losses	0		0		0
Fair Value	1,023		1,023		1,949
OTTI in AOCI (3)	0		0		0
Available For Sale Securities Debt Maturities Amortized Cost [Abstract]
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	980		980
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	1,023		1,023
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	146		146		175
Gross Unrealized Gains	10		10		12
Gross Unrealized Losses	4		4		5
Fair Value	152		152		182
OTTI in AOCI (3)	4		4		5
Available For Sale Securities Debt Maturities Amortized Cost [Abstract]
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	146		146
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	152		152
Redeemable Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	1,044		1,044		1,089
Gross Unrealized Gains	54		54		60
Gross Unrealized Losses	21		21		11
Fair Value	1,077		1,077		1,138
OTTI in AOCI (3)	0		0		0
Fixed Maturities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	30,231		30,231		30,720
Gross Unrealized Gains	1,866		1,866		3,215
Gross Unrealized Losses	797		797		328
Fair Value	31,300		31,300		33,607
OTTI in AOCI (3)	29		29		18
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	24		24		23
Gross Unrealized Gains	0		0		1
Gross Unrealized Losses	0		0		0
Fair Value	24		24		24
OTTI in AOCI (3)	0		0		0
Trading Fixed Maturities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	186		186		194
Gross Unrealized Gains	0		0		12
Gross Unrealized Losses	8		8		4
Fair Value	$ 178		$ 178		$ 202

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CLOSED BLOCKS PARENTHETICALS (DETAILS) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Closed Block Disclosure [Abstract]
Closed Block Investments, Fixed Maturity, Available-for-sale, Amortized Cost	$ 5,050	$ 5,245
Closed Block Operations, Deferred Income Tax (Expense) Benefit	45	47
Closed Block Liabilities Policyholder Dividend Obligation	$ (166)	$ (373)

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GMDB, GMIB, GWBL AND NO LAPSE GUARANTEE FEATURES (TABLES)

6 Months Ended

Jun. 30, 2013

Variable Annuity Contracts GMDB GMIB And GWBL Tables [Abstract]

Variable Annuity Contracts- GMDB GMIB [Table Text Block]

		GMDB		GMIB		Total
		(In Millions)
Balance at January 1, 2013		$	1,772	$	4,561	$	6,333
	Paid guarantee benefits		(132)		(26)		(158)
	Other changes in reserve		142		0		142
Balance at June 30, 2013		$	1,782	$	4,535	$	6,317
Balance at January 1, 2012		$	1,593	$	4,130	$	5,723
	Paid guarantee benefits		(128)		(38)		(166)
	Other changes in reserve		174		275		449
Balance at June 30, 2012		$	1,639	$	4,367	$	6,006

Guaranteed Minimum Death Benefit Reinsurance Ceded [Table Text Block]

		Six Months Ended
		June 30,
		2013		2012
		(In Millions)
Balance, beginning of year		$	844	$	716
	Paid guarantee benefits		(59)		(53)
	Other changes in reserve		85		105
Balance, End of Period		$	870	$	768

Schedule Of Net Amount Of Risk By Product And Guarantee [Text Block]

			Return
			of
			Premium		Ratchet		Roll-Up		Combo		Total
			(Dollars In Millions)
GMDB:
	Account values invested in:
		General Account	$	13,008	$	232	$	96	$	439	$	13,775
		Separate Accounts	$	32,837	$	7,811	$	3,838	$	36,114	$	80,600
	Net amount at risk, gross		$	481	$	474	$	2,522	$	13,201	$	16,678
	Net amount at risk, net of
		amounts reinsured	$	481	$	289	$	1,696	$	5,168	$	7,634
	Average attained age
		of contractholders		50.7		64.2		69.8		64.9		54.6
	Percentage of contractholders
		over age 70		8.3%		31.0%		51.5%		32.1%		15.3%
	Range of contractually specified
		interest rates		N/A		N/A		3%-6%		3%-6.5%		3%-6.5%
GMIB:
	Account values invested in:
		General Account		N/A		N/A	$	37	$	480	$	517
		Separate Accounts		N/A		N/A	$	2,669	$	47,928	$	50,597
	Net amount at risk, gross			N/A		N/A	$	1,277	$	3,901	$	5,178
	Net amount at risk, net of
		amounts reinsured		N/A		N/A	$	383	$	947	$	1,330
	Weighted average years remaining
		until annuitization		N/A		N/A		0.4		4.0		3.8
	Range of contractually specified
		interest rates		N/A		N/A		3%-6%		3%-6.5%		3%-6.5%

Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Text Block]

Investment in Variable Insurance Trust Mutual Funds
		June 30,		December 31,
		2013		2012
		(In Millions)
GMDB:
	Equity	$	57,647	$	52,633
	Fixed income		3,376		3,748
	Balanced		19,063		19,102
	Other		514		543
	Total	$	80,600	$	76,026
GMIB:
	Equity	$	35,677	$	33,361
	Fixed income		2,052		2,335
	Balanced		12,624		12,906
	Other		244		264
	Total	$	50,597	$	48,866

Schedule Of Variable and Interest-Sensitive Life Insurance Policies - No Lapse Guarantee Table [Text Block]

		Direct		Reinsurance
		Liability		Ceded		Net
		(In Millions)
Balance at January 1, 2013		$	556	$	(310)	$	246
	Other changes in reserves		83		(48)		35
Balance at June 30, 2013		$	639	$	(358)	$	281
Balance at January 1, 2012		$	470	$	(262)	$	208
	Other changes in reserves		50		(23)		27
Balance at June 30, 2012		$	520	$	(285)	$	235

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CONSOLIDATED STATEMENTS OF EQUITY (USD $) In Millions	Total	Parent [Member]	Common Stock [Member]	Capital in excess of par value	Retained earnings	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling interest
Beginning of year at Dec. 31, 2011			$ 2	$ 5,743	$ 9,392	$ (297)	$ 2,703
Net earnings (loss)	895				786		109
Other Comprehensive Income	380					381	(1)
Repurchase of AllianceBernstein Holding units							61
Dividends and distributions					181		(96)
Other				0			111
End of year at Jun. 30, 2012	18,591	15,826	2	5,743	9,997	84	2,765
Beginning of year at Dec. 31, 2012	17,930		2	5,992	9,125	317	2,494
Net earnings (loss)	(1,902)				(2,055)		153
Other Comprehensive Income	(922)					(913)	(9)
Repurchase of AllianceBernstein Holding units							17
Dividends and distributions					0		(144)
Other				19			127
End of year at Jun. 30, 2013	$ 15,091	$ 12,487	$ 2	$ 6,011	$ 7,070	$ (596)	$ 2,604

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ORGANIZATION

6 Months Ended

Jun. 30, 2013

Organization [Abstract]

ORGANIZATION

AXA EQUITABLE LIFE INSURANCE COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

1)       ORGANIZATION AND BASIS OF PRESENTATION

The preparation of the accompanying unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. The accompanying unaudited interim consolidated financial statements reflect all adjustments necessary in the opinion of management for a fair presentation of the consolidated financial position of AXA Equitable and its consolidated results of operations and cash flows for the periods presented. All significant intercompany transactions and balances have been eliminated in consolidation. These statements should be read in conjunction with the audited consolidated financial statements of AXA Equitable for the year ended December 31, 2012. The results of operations for the six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the full year.

At June 30, 2013 and December 31, 2012, the Company's economic interest in AllianceBernstein was 38.2% and 39.5%, respectively. At June 30, 2013 and December 31, 2012, respectively, AXA and its subsidiaries' (including AXA Financial Group) economic interest in AllianceBernstein was approximately 64.2% and 65.5%.

The terms “second quarter 2013” and “second quarter 2012” refer to the three months ended June 30, 2013 and 2012, respectively. The terms “first six months of 2013” and “first six months of 2012” refer to the six months ended June 30, 2013 and 2012, respectively.

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CLOSED BLOCKS

6 Months Ended

Jun. 30, 2013

Closed Blocks [Abstract]

CLOSED BLOCKS

4)CLOSED BLOCK

The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in AOCI) represents the expected maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. As of January 1, 2001, AXA Equitable has developed an actuarial calculation of the expected timing of AXA Equitable's Closed Block's earnings.

If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block.

Many expenses related to Closed Block operations, including amortization of DAC, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the ClosedBlock.

Summarized financial information for the Closed Block follows:

			June 30,		December 31,
			2013		2012
			(In Millions)
CLOSED BLOCK LIABILITIES:
Future policy benefits, policyholders’ account balances and other			$	7,806	$	7,942
Policyholder dividend obligation				166		373
Other liabilities				93		192
Total Closed Block liabilities				8,065		8,507
ASSETS DESIGNATED TO THE CLOSED BLOCK:
Fixed maturities, available for sale, at fair value (amortized cost of $5,050 and $5,245)				5,336		5,741
Mortgage loans on real estate				1,251		1,255
Policy loans				969		1,026
Cash and other invested assets				78		30
Other assets				192		204
Total assets designated to the Closed Block				7,826		8,256
Excess of Closed Block liabilities over assets designated to the Closed Block				239		251
Amounts included in accumulated other comprehensive income (loss):
	Net unrealized investment gains (losses), net of deferred income tax (expense) benefit
		of $(45) and $(47) and policyholder dividend obligation of $(166) and $(373)		84		87
Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities			$	323	$	338

Closed Block revenues and expenses were as follows:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
	2013		2012		2013		2012
	(In Millions)
REVENUES:
Premiums and other income	$	73	$	79	$	148	$	160
Net investment income (loss)		100		105		209		212
Net investment gains (losses)		(5)		(6)		(8)		(10)
Total revenues		168		178		349		362
BENEFITS AND OTHER DEDUCTIONS:
Policyholders’ benefits and dividends		173		198		325		385
Other operating costs and expenses		0		0		1		0
Total benefits and other deductions		173		198		326		385
Net revenues before income taxes		(5)		(20)		23		(23)
Income tax (expense) benefit		2		7		(8)		8
Net Revenues (Losses)	$	(3)	$	(13)	$	15	$	(15)

Reconciliation of the policyholder dividend obligation follows:

		Six Months Ended
		June 30,
	2013		2012
	(In Millions)
Balances, beginning of year	$	373	$	260
Unrealized investment gains (losses)		(207)		45
Balances, End of Period	$	166	$	305

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NEW ACCOUNTING PRONOUNCEMENTS

6 Months Ended

Jun. 30, 2013

New Accounting Pronouncements [Abstract]

NEW ACCOUNTING PRONOUNCEMENTS

2)NEW ACCOUNTING PRONOUNCEMENTS

Adoption of New Accounting Pronouncements

In February 2013, the FASB issued new guidance to improve the reporting of reclassifications out of AOCI. The amendments in this guidance require an entity to report the effect of significant reclassifications out of AOCI on the respective line items in the statement of earnings (loss) if the amount being reclassified is required to be reclassified in its entirety to net earnings (loss). For other amounts that are not required to be reclassified in their entirety to net earnings in the same reporting period, an entity is required to cross-reference other disclosures that provide additional detail about those amounts.The guidance requires disclosure of reclassification information either in the notes or the face of the financial statements provided the information is presented in one location. This guidance was effective for interim and annual periods beginning after December 31, 2012. Implementation of this guidance did not have a material impact on the Company's consolidated financial statements.

In July 2012, the FASB issued new guidance on testing indefinite-lived intangible assets for impairment.  The guidance is intended to reduce the cost and complexity of the annual indefinite-lived intangible assets impairment test by providing entities with the option of performing a "qualitative" assessment to determine whether further impairment testing is necessary. The guidance was effective for annual and interim indefinite-lived intangible assets impairment tests performed for fiscal years beginning after September 15, 2012. Implementation of this guidance did not have a material impact on the Company's consolidated financial statements.

In December 2011, the FASB issued new and enhanced disclosures about offsetting (netting) of financial instruments and derivatives, including repurchase/reverse repurchase agreements and securities lending/borrowing arrangements, to converge with those required by IFRS. The disclosures require presentation in tabular format of gross and net information about assets and liabilities that either are offset (presented net) on the balance sheet or are subject to master netting agreements or similar arrangements providing rights of setoff, such as global master repurchase, securities lending, and derivative clearing agreements, irrespective of whether the assets and liabilities are offset. Financial instruments subject only to collateral agreements are excluded from the scope of these requirements, however, the tabular disclosures are required to include the fair values of financial collateral, including cash, related to master netting agreements or similar arrangements. In January 2013, the FASB issued new guidance limiting the scope of the new balance sheet offsetting disclosures to derivatives, repurchase agreements, and securities lending transactions to the extent that they are (1) offset in the financial statements or (2) subject to an enforceable master netting arrangement or similar agreement. This guidance was effective for interim and annual periods beginning after January 1, 2013 and is to be applied retrospectively to all comparative prior periods presented. Implementation of this guidance did not have a material impact on the Company's consolidated financial statements.

Future Adoption of New Accounting Pronouncements

In July 2013, the FASB issued new guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this guidance state that an unrecognized tax benefit, or a portion thereof, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. An exception to this guidance would be where a net operating loss carryforward or similar tax loss or credit carryforward would not be available under the tax law to settle any additional income taxes that would result from the disallowance of a tax position, or the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose. In such a case, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance is effective for interim and annual periods beginning after December 15, 2013. Management will be adopting this presentation as of the effective date. Management does not expect implementation of this guidance will have a material impact on the Company's consolidated financial statements.

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INVESTMENTS (offsetting) (Details2) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Counterparty A [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	$ 38	$ 30
Callateral Cash (Received)	(17)	(30)
Derivative Asset, Fair Value, Amount Offset Against Collateral	21	0
Counterparty B [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	6	32
Callateral Cash (Received)	(1)	(29)
Derivative Asset, Fair Value, Amount Offset Against Collateral	5	3
Counterparty C [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	(51)	55
Calleteral Securities (Received)	0
Callateral Cash (Received)	51	(55)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty D [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	212	310
Callateral Cash (Received)	(204)	(310)
Derivative Asset, Fair Value, Amount Offset Against Collateral	8	0
Counterparty E [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	(14)	38
Callateral Cash (Received)	14	(38)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty F [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	(35)	326
Callateral Cash (Received)	35	(326)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty G [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	73	55
Callateral Cash (Received)	(73)	(55)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty H [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	(24)	(5)
Collateral Cash Held	24	5
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty I [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	(50)	98
Callateral Cash (Received)	50	(98)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty J [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	(30)	19
Callateral Cash (Received)	30	(19)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty K [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	15	15
Callateral Cash (Received)	(14)	(3)
Derivative Asset, Fair Value, Amount Offset Against Collateral	1	12
Counterparty L [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	41	48
Calleteral Securities (Received)		(46)
Callateral Cash (Received)	(35)
Derivative Asset, Fair Value, Amount Offset Against Collateral	6	2
Counterparty M [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	29	51
Callateral Cash (Received)	(29)	(51)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty N [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	75	96
Callateral Cash (Received)		0
Derivative Asset, Fair Value, Amount Offset Against Collateral	75	96
Total Derivatives [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	285	1,168
Calleteral Securities (Received)	0	(46)
Callateral Cash (Received)	(169)	(1,009)
Derivative Asset, Fair Value, Amount Offset Against Collateral	116	113
Other Financial Instruments [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	1,049	660
Derivative Asset, Fair Value, Amount Offset Against Collateral	1,049	660
Other Invested Assets [Member]
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	1,334	1,828
Calleteral Securities (Received)	0	(46)
Callateral Cash (Received)	(169)	(1,009)
Derivative Asset, Fair Value, Amount Offset Against Collateral	$ 1,165	$ 773

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (TABLES)

6 Months Ended

Jun. 30, 2013

Comprehensive Income Note Tables [Abstract]

Schedule Of Accumulated Other Comprehensive Income Loss [Table Text Block]

	June 30,
	2013		2012
	(In Millions)
Unrealized gains (losses) on investments	$	375	$	1,204
Defined benefit pension plans		(1,001)		(1,134)
Total accumulated other comprehensive income (loss)		(626)		70
Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest		30		14
Accumulated Other Comprehensive Income (Loss) Attributable to AXA Equitable	$	(596)	$	84

Schedule Of Comprehensive Income (Loss) [Table Text Block]

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2013		2012		2013		2012
			(In Millions)
Net unrealized gains (losses) on investments:
	Net unrealized gains (losses) arising during the period		$	(1,545)	$	627	$	(1,851)	$	603
	(Gains) losses reclassified into net earnings (loss) during the period(1)			19		21		32		22
Net unrealized gains (losses) on investments				(1,526)		648		(1,819)		625
Adjustments for policyholders' liabilities, DAC, deferred income taxes
	and insurance liability loss recognition			705		(263)		842		(193)
Change in unrealized gains (losses), net of adjustments				(821)		385		(977)		432
Change in defined benefit plans:
	Net gain (loss) arising during the period			25		(27)		-		(52)
	Less: reclassification adjustments to net earnings (loss) for:(2)
		Amortization of net prior service credit included in net periodic cost		55		-		55		-
Change in defined benefit plans(3)				80		(27)		55		(52)
Total other comprehensive income (loss), net of income taxes				(741)		358		(922)		380
Less: Other comprehensive (income) loss attributable
	to noncontrolling interest			5		2		9		1
Other Comprehensive Income (Loss) Attributable to AXA Equitable			$	(736)	$	360	$	(913)	$	381

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INVESTMENTS (NET UNREALIZED INVESTMENTS) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended				3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013 Net Unrealized Gains (Losses) On Investments [Member]	Dec. 31, 2012 Net Unrealized Gains (Losses) On Investments [Member]	Jun. 30, 2013 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 DAC [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 DAC [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 DAC [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 DAC [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 DAC [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 DAC [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 DAC [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 DAC [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 Policyholders Liabilities [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 Policyholders Liabilities [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 Policyholders Liabilities [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 Policyholders Liabilities [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 Policyholders Liabilities [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 Policyholders Liabilities [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 Policyholders Liabilities [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 Policyholders Liabilities [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 Deferred Income Tax Asset Liability [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2012 AOCI Gain Losses Related to Net Unrealized Investment Gains Losses [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 Fixed Maturities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Dec. 31, 2012 Fixed Maturities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2012 Fixed Maturities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Dec. 31, 2011 Fixed Maturities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses With Otti Losses [Member]	Jun. 30, 2013 Fixed Maturities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]	Dec. 31, 2012 Fixed Maturities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]	Jun. 30, 2013 Equity Securities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]	Dec. 31, 2012 Equity Securities [Member] Net Unrealized Gains (Losses) On Investments [Member] Unrealized Investment Gains Losses All Other [Member]
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year					$ 1,069	$ 2,888	$ (8)	$ (28)	$ (12)		$ 2,603	$ 1,789	$ 2,900	$ 1,831	$ 1	$ 1	$ 1	$ 5	$ (121)	$ (111)	$ (179)	$ (207)	$ 4	$ 4	$ 4	$ 6	$ (593)	$ (380)	$ (603)	$ (385)	$ 1	$ 8	$ 2	$ 12	$ (661)	$ (455)	$ (741)	$ (433)	$ (2)	$ (15)	$ (5)	$ (24)	$ 1,228	$ 843	$ 1,377	$ 806	$ (35)	$ (12)	$ (14)	$ (47)	$ 1,104	$ 2,899	$ 0	$ 1
Net unrealized gains (losses) arising during the period	(1,545)	627	(1,851)	603			(12)	(17)	(13)	2	(1,535)	644	(1,838)	601																									(12)	(17)	(13)	2	(1,535)	644	(1,838)	601
Reclassification adjustment for OTTI losses Included in Net earnings (loss)							0	32	5	32	21	22	27	23																									0	32	5	32	21	22	27	23
Reclassification adjustment for OTTI losses excluded from Net earnings (loss)							(15)	(1)	(15)	(1)	15	1	15	1																									(15)	(1)	(15)	(1)	15	1	15	1
Impact of net unrealized investment gains (losses) on DAC															1	0	(1)	4	11	(62)	(69)	(34)																	1	0	(1)	4	11	(62)	(69)	(34)
Impact of net unrealized investment gains (losses) on Deferred income taxes																															7	(5)	(6)	9	429	(204)	(509)	226	7	(5)	(6)	9	429	(204)	(509)	226
Impact of net unrealized investment gains (losses) on Policyholders liabilities																							5	(1)	(5)	3	257	(22)	(267)	17									5	(1)	(5)	3	257	(22)	(267)	17
Balance, End of Period	$ 375	$ 1,204	$ 375	$ 1,204	$ 1,069	$ 2,888	$ (35)	$ (14)	$ (35)	$ (14)	$ 1,104	$ 2,456	$ 1,104	$ 2,456	$ 2	$ 1	$ 2	$ 1	$ (110)	$ (173)	$ (110)	$ (173)	$ 9	$ 3	$ 9	$ 3	$ (336)	$ (402)	$ (336)	$ (402)	$ 8	$ 3	$ 8	$ 3	$ (232)	$ (659)	$ (232)	$ (659)	$ (16)	$ (7)	$ (16)	$ (7)	$ 426	$ 1,222	$ 426	$ 1,222	$ (35)	$ (12)	$ (14)	$ (47)	$ 1,104	$ 2,899	$ 0	$ 1

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INVESTMENTS (Derivatives) (DETAILS) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	$ 35,526		$ 53,307
Fair Value Assets Derivatives	9,932		12,837
Derivative Liability, Fair Value, Net	1,063		895
Investment gains (losses) included in net earnings (loss)	(3,848)	749
Equity Contracts Futures [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	5,578		6,189
Fair Value Assets Derivatives	2		0
Derivative Liability, Fair Value, Net	0		2
Investment gains (losses) included in net earnings (loss)	(644)	(560)
Equity Contracts Swaps [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	1,366		965
Fair Value Assets Derivatives	30		2
Derivative Liability, Fair Value, Net	47		56
Investment gains (losses) included in net earnings (loss)	(103)	(137)
Equity Contracts Options [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	4,826		3,492
Fair Value Assets Derivatives	657		443
Derivative Liability, Fair Value, Net	372		219
Investment gains (losses) included in net earnings (loss)	124	11
Interest Rate Floor [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	2,400		2,700
Fair Value Assets Derivatives	227		291
Derivative Liability, Fair Value, Net	0		0
Investment gains (losses) included in net earnings (loss)	(17)	42
Interest rate contracts Swaps [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	11,745		18,239
Fair Value Assets Derivatives	305		554
Derivative Liability, Fair Value, Net	510		353
Investment gains (losses) included in net earnings (loss)	(681)	354
Interest rate contracts Futures [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	9,197		14,033
Fair Value Assets Derivatives	0		0
Derivative Liability, Fair Value, Net	0		0
Investment gains (losses) included in net earnings (loss)	(154)	147
Interest rate contracts Swaptions [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	0		7,608
Fair Value Assets Derivatives	0		502
Derivative Liability, Fair Value, Net	0		0
Investment gains (losses) included in net earnings (loss)	(169)	100
Credit Default Swap [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	305
Fair Value Assets Derivatives	4
Derivative Liability, Fair Value, Net	4
Investment gains (losses) included in net earnings (loss)	(3)
Foreign currency Contracts [Member]
Derivative Instruments by Category [Line Items]
Derivative Notional Amount	109		81
Fair Value Assets Derivatives			1
Derivative Liability, Fair Value, Net			0
Investment gains (losses) included in net earnings (loss)	1	1
Net investment Income (loss) [Member]
Derivative Instruments by Category [Line Items]
Investment gains (losses) included in net earnings (loss)	(1,646)	(42)
Gmib Reinsurance [Member]
Derivative Instruments by Category [Line Items]
Fair Value Assets Derivatives	8,707		11,044
Investment gains (losses) included in net earnings (loss)	(2,337)	834
Guaranteed Minimum Withdrawal Benefit [Member]
Derivative Instruments by Category [Line Items]
Derivative Liability, Fair Value, Net	130		265
Investment gains (losses) included in net earnings (loss)	$ 135	$ (43)

XML

RELATED PARTY TRANSACTIONS (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Guaranteed Minimum Income Benefit Reinsurance Contract Asset At Fair Value	$ 8,707		$ 8,707		$ 11,044
AXA Financial [Member]
Related Party Transaction, Expenses from Transactions with Related Party	11	23	12	24
AXA Distribution [Member]
Related Party Transaction, Expenses from Transactions with Related Party	156	308	174	366
Revenue from Related Parties	61	141	102	207
Axa Arizona [Member]
Guaranteed Minimum Income Benefit Reinsurance Contract Asset At Fair Value	7,042		7,042		8,888
Ceded Premiums Earned Affiliated	122	238	120	237
Reinsurance Effect On Claims And Benefits Incurred Amount Ceded To Affiliates	$ 16	$ 35	$ 19	$ 35

XML

FAIR VALUE DISCLOSURES 3 (DETAILS) (USD $) In Millions, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Fair Value Inputs [Abstract]
Spread Over Industry Yield Curve BPS		695
Constant Default Rate		25.00%
Corporate Debt Securities [Member] | Matrix Pricing Model Valuation Technique [Member]
Fair Value Inputs [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 82	$ 94
Corporate Debt Securities [Member] | Matrix Pricing Model Valuation Technique [Member] | Minimum [Member]
Fair Value Inputs [Abstract]
Spread Over Industry Yield Curve BPS	100	125
Corporate Debt Securities [Member] | Matrix Pricing Model Valuation Technique [Member] | Maximum [Member]
Fair Value Inputs [Abstract]
Spread Over Industry Yield Curve BPS	575	650
Commercial Mortgage Backed Securities [Member] | Discounted Cash Flow Valuation Technique [Member]
Fair Value Inputs [Abstract]
Probability Of Default		55.00%
Loss Severity		49.00%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		889
Commercial Mortgage Backed Securities [Member] | Discounted Cash Flow Valuation Technique [Member] | Minimum [Member]
Fair Value Inputs [Abstract]
Constant Default Rate		3.00%
Discount Rate		3.72%
Commercial Mortgage Backed Securities [Member] | Discounted Cash Flow Valuation Technique [Member] | Maximum [Member]
Fair Value Inputs [Abstract]
Discount Rate		13.42%
Residential Mortgage Backed Securities [Member] | Matrix Pricing Model Valuation Technique [Member]
Fair Value Inputs [Abstract]
Spread Over Industry Yield Curve BPS		46
Spread Over US Treasury Curve BPS	45
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1	1
Asset-backed Securities [Member] | Matrix Pricing Model Valuation Technique [Member]
Fair Value Inputs [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	8	8
Asset-backed Securities [Member] | Matrix Pricing Model Valuation Technique [Member] | Minimum [Member]
Fair Value Inputs [Abstract]
Spread Over Industry Yield Curve BPS		30
Spread Over US Treasury Curve BPS	0
Asset-backed Securities [Member] | Matrix Pricing Model Valuation Technique [Member] | Maximum [Member]
Fair Value Inputs [Abstract]
Spread Over US Treasury Curve BPS	687
Equity Method Investments [Member] | Market Comparable Companies Valuation Technique [Member]
Fair Value Inputs [Abstract]
Discount Rate	18.00%	18.00%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	25	38
Equity Method Investments [Member] | Market Comparable Companies Valuation Technique [Member] | Minimum [Member]
Fair Value Inputs [Abstract]
Revenue Multiple	0.7	0.6
Research And Development Multiple	1	1.0
Discount Years	1 year 6 months 0 days	1 year 0 months 0 days
Discount For Lack Of Marketability Risk Factors	50.00%	40.00%
Equity Method Investments [Member] | Market Comparable Companies Valuation Technique [Member] | Maximum [Member]
Fair Value Inputs [Abstract]
Revenue Multiple	62.5	62.5
Research And Development Multiple	32.4	30.6
Discount Years		2 years 0 months 0 days
Discount For Lack Of Marketability Risk Factors	60.00%	60.00%
Separate Accounts [Member] | Discounted Cash Flow Valuation Technique [Member]
Fair Value Inputs [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	15	22
Separate Accounts [Member] | Discounted Cash Flow Valuation Technique [Member] | Minimum [Member]
Fair Value Inputs [Abstract]
Spread Over Industry Yield Curve BPS		275
Discount Rate	1.00%	1.00%
Spread Over US Treasury Curve BPS	252
Inflation Rate	2.00%	2.00%
Separate Accounts [Member] | Discounted Cash Flow Valuation Technique [Member] | Maximum [Member]
Fair Value Inputs [Abstract]
Spread Over Industry Yield Curve BPS		586
Discount Rate	5.50%	2.00%
Spread Over US Treasury Curve BPS	355
Inflation Rate	3.00%	3.00%
Separate Accounts [Member] | Third Party Appraisal Valuation Technique [Member]
Fair Value Inputs [Abstract]
Discount Rate	7.60%	7.70%
Capitalization Rate	5.40%	5.50%
Exit Capitalization Rate	6.50%	6.60%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	197	194
Gmib Reinsurance [Member]
Fair Value Inputs [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	8,707
Gmib Reinsurance [Member] | Discounted Cash Flow Valuation Technique [Member]
Fair Value Inputs [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		11,044
Gmib Reinsurance [Member] | Discounted Cash Flow Valuation Technique [Member] | Minimum [Member]
Fair Value Inputs [Abstract]
Lapse Rates	1.50%	1.50%
Withdrawal Rates	0.20%	0.20%
GMIB Utilization Rates	0.00%	0.00%
Non Performance Risk	11	13
Volatility Rates- Equity	23.00%	24.00%
Gmib Reinsurance [Member] | Discounted Cash Flow Valuation Technique [Member] | Maximum [Member]
Fair Value Inputs [Abstract]
Lapse Rates	8.00%	8.00%
Withdrawal Rates	8.00%	8.00%
GMIB Utilization Rates	15.00%	15.00%
Non Performance Risk	43	45
Volatility Rates- Equity	34.00%	36.00%
Gmwb Gwbl [Member]
Fair Value Inputs [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	128
Gmwb Gwbl [Member] | Discounted Cash Flow Valuation Technique [Member]
Fair Value Inputs [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		$ 205
Gmwb Gwbl [Member] | Discounted Cash Flow Valuation Technique [Member] | Minimum [Member]
Fair Value Inputs [Abstract]
Lapse Rates	1.00%	1.00%
Withdrawal Rates	0.00%	0.00%
Volatility Rates- Equity	23.00%	24.00%
Gmwb Gwbl [Member] | Discounted Cash Flow Valuation Technique [Member] | Maximum [Member]
Fair Value Inputs [Abstract]
Lapse Rates	8.00%	8.00%
Withdrawal Rates	7.00%	7.00%
Volatility Rates- Equity	34.00%	36.00%

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GMDB, GMIB, GWBL AND NO LAPSE GUARANTEE FEATURES (DETAILS1) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Net Amount At Risk By Product And Guarantee [Line Items]
GWBL and other guaranteed benefits related liability	$ 130	$ 265
Guaranteed Minimum Death Benefit [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	13,775
Account Value Invested In Separate Accounts	80,600	76,026
Net amount at risk, gross	16,678
Net amount at risk, net of amounts reinsured	7,634
Average attained age of contractholders	54 years 7 months 6 days
Percentage of contractholders over age 70	15.30%
Guaranteed Minimum Death Benefit [Member] | Minimum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	3.0
Guaranteed Minimum Death Benefit [Member] | Maximum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	6.5
Guaranteed Minimum Death Benefit [Member] | Return Of Premium [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	13,008
Account Value Invested In Separate Accounts	32,837
Net amount at risk, gross	481
Net amount at risk, net of amounts reinsured	481
Average attained age of contractholders	50 years 8 months 12 days
Percentage of contractholders over age 70	8.30%
Guaranteed Minimum Death Benefit [Member] | Ratchet [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	232
Account Value Invested In Separate Accounts	7,811
Net amount at risk, gross	474
Net amount at risk, net of amounts reinsured	289
Average attained age of contractholders	64 years 2 months 12 days
Percentage of contractholders over age 70	31.00%
Guaranteed Minimum Death Benefit [Member] | Roll Up [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	96
Account Value Invested In Separate Accounts	3,838
Net amount at risk, gross	2,522
Net amount at risk, net of amounts reinsured	1,696
Average attained age of contractholders	69 years 9 months 18 days
Percentage of contractholders over age 70	51.50%
Guaranteed Minimum Death Benefit [Member] | Roll Up [Member] | Minimum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	3.0
Guaranteed Minimum Death Benefit [Member] | Roll Up [Member] | Maximum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	6.0
Guaranteed Minimum Death Benefit [Member] | Combo [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	439
Account Value Invested In Separate Accounts	36,114
Net amount at risk, gross	13,201
Net amount at risk, net of amounts reinsured	5,168
Average attained age of contractholders	64 years 10 months 24 days
Percentage of contractholders over age 70	32.10%
Guaranteed Minimum Death Benefit [Member] | Combo [Member] | Minimum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	3.0
Guaranteed Minimum Death Benefit [Member] | Combo [Member] | Maximum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	6.5
Guaranteed Minimum Income Benefit [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	517
Account Value Invested In Separate Accounts	50,597	48,866
Net amount at risk, gross	5,178
Net amount at risk, net of amounts reinsured	1,330
Weighted average years remaining until annuitization	3 years 9 months 18 days
Net amount at risk, gross update	3,646
Net Amount At Risk Net Of Amounts Reinsured Update	1,015
Guaranteed Minimum Income Benefit [Member] | Minimum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	3.0
Guaranteed Minimum Income Benefit [Member] | Maximum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	6.5
Guaranteed Minimum Income Benefit [Member] | Roll Up [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	37
Account Value Invested In Separate Accounts	2,669
Net amount at risk, gross	1,277
Net amount at risk, net of amounts reinsured	383
Weighted average years remaining until annuitization	0 years 4 months 24 days
Guaranteed Minimum Income Benefit [Member] | Roll Up [Member] | Minimum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	3.0
Guaranteed Minimum Income Benefit [Member] | Roll Up [Member] | Maximum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	6.0
Guaranteed Minimum Income Benefit [Member] | Combo [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Account Value Invested In General Account	480
Account Value Invested In Separate Accounts	47,928
Net amount at risk, gross	3,901
Net amount at risk, net of amounts reinsured	$ 947
Weighted average years remaining until annuitization	4 years 0 months 0 days
Guaranteed Minimum Income Benefit [Member] | Combo [Member] | Minimum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	3.0
Guaranteed Minimum Income Benefit [Member] | Combo [Member] | Maximum [Member]
Net Amount At Risk By Product And Guarantee [Line Items]
Range of contractually specified interest rates	6.5

XML

CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)	Jun. 30, 2013	Dec. 31, 2012
CONSOLIDATED BALANCE SHEETS
Common Stock par value	$ 1.25	$ 1.25
Common Stock authorized	2,000,000	2,000,000
Common Stock issued	2,000,000	2,000,000
Common Stock outstanding	2,000,000	2,000,000

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EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2013

Employee Benefit Plans [Abstract]

EMPLOYEE BENEFIT PLANS

7)EMPLOYEE BENEFIT PLANS

The funding policy of the Company for its qualified pension plans is to satisfy its funding obligations each year in an amount not less than the minimum required by the ERISA, as amended by the Pension Act, and not greater than the maximum it can deduct for Federal income tax purposes.

In the first six months of 2013, no cash contributions were made by AXA Equitable or AllianceBernstein to their respective qualified pension plans. Based on the funded status of the Company's plans at June 30, 2013, no minimum contribution is required to be made in 2013 under ERISA, as amended by the Pension Act, but management is currently evaluating if it will make contributions for the remainder of 2013.

Components of certain benefit costs for the Company were as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In Millions)
Net Periodic Pension Expense:
(Qualified and Non-qualified Plans)
Service cost	$	11	$	11	$	22	$	22
Interest cost		24		27		47		53
Expected return on assets		(39)		(35)		(77)		(69)
Net amortization		41		41		82		82
Net Periodic Pension Expense	$	37	$	44	$	74	$	88

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
COMPREHENSIVE INCOME (LOSS)
Net earnings (loss)	$ (968)	$ 2,468	$ (1,902)	$ 895
Other comprehensive income (loss) net of income taxes:
Change in unrealized gains (losses), net of reclassification adjustment	(821)	385	(977)	432
Changes in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment	80	(27)	55	(52)
Total other comprehensive income (loss), net of income taxes	(741)	358	(922)	380
Comprehensive income (loss)	(1,709)	2,826	(2,824)	1,275
Less: Comprehensive (income) loss attributable to noncontrolling interest	(78)	(45)	(144)	(108)
Comprehensive Income (Loss) Attributable to AXA Equitable	$ (1,787)	$ 2,781	$ (2,968)	$ 1,167

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RESTRUCTURING (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
AXA Equitable [Member]
Restructuring And Related Cost [Line Items]
Restructuring Charges	$ 53	$ 2	$ 74	$ 13
Facility related pre-tax charge			52
Alliance Bernstein [Member]
Restructuring And Related Cost [Line Items]
Pre-tax charge related to severance costs	$ 3	$ 4	$ 4	$ 17

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CONSOLIDATED BALANCE SHEET (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
ASSETS
Fixed maturities available for sale, at fair value	$ 31,300	$ 33,607
Mortgage loans on real estate	5,364	5,059
Equity real estate, held for the production of income	4	4
Policy loans	3,450	3,512
Other equity investments	1,809	1,643
Trading securities	3,219	2,309
Other invested assets	1,334	1,828
Total investments	46,480	47,962
Cash and cash equivalents	1,419	3,162
Cash and securities segregated, at fair value	835	1,551
Broker-dealer related receivables	1,622	1,605
Deferred policy acquisition costs	3,959	3,728
Goodwill and other intangible assets, net	3,661	3,673
Amounts due from reinsurers	3,840	3,847
Loans to affiliates	1,035	1,037
Guaranteed minimum income benefit reinsurance contract asset, at fair value	8,707	11,044
Other assets	4,941	5,095
Separate Accounts' Assets	99,750	94,139
Total Assets	176,249	176,843
LIABILITIES
Policyholders' account balances	29,256	28,263
Future policy benefits and other policyholders' liabilities	22,253	22,687
Broker-dealer related payables	489	664
Amounts due to reinsurers	66	75
Customers related payables	1,545	2,562
Short-term and long-term debt	546	523
Loans from affiliates	825	1,325
Current and deferred income taxes	3,638	5,172
Other liabilities	2,790	3,503
Separate Accounts' liabilities	99,750	94,139
Total Liabilities	161,158	158,913
Commitments and contingent liabilities (Notes 10 and 11)	0	0
AXA Equitable's equity:
Common stock, $1.25 par value, 2 million shares authorized, issued and outstanding	2	2
Capital in excess of par value	6,011	5,992
Retained earnings	7,070	9,125
Accumulated other comprehensive income (loss)	(596)	317
Total AXA Equitable's equity	12,487	15,436
Noncontrolling interest	2,604	2,494
Total Equity	15,091	17,930
Total Liabilities and Equity	$ 176,249	$ 176,843

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FAIR VALUE DISCLOSURES 4 (DETAILS) (USD $) In Millions, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value Measurements Not Included In Quantitative Information About Level 3 Fair Value Measurements	$ 1,136	$ 516
Level 3 fair value measurements not included in quantitative information as a percentage of total assets classified as level 3	77.60%	29.30%
Level 3 fair value measurements not included in quantitative information as a percentage of total assets measured at fair value on a recurring basis	0.80%	0.40%
Corporate Debt Securities [Member] | Matrix Pricing Model Valuation Technique [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	82	94
Corporate Debt Securities [Member] | Matrix Pricing Model Valuation Technique [Member] | Private Available For Sale Corporate Securities [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Percentage Of Level 3 Asset Fair Value	37.40%	26.50%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	82	94
Commercial Mortgage Backed Securities [Member] | Discounted Cash Flow Valuation Technique [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		889
Residential Mortgage Backed Securities [Member] | Matrix Pricing Model Valuation Technique [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Percentage Of Level 3 Asset Fair Value	16.70%	11.10%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1	1
Asset-backed Securities [Member] | Matrix Pricing Model Valuation Technique [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Percentage Of Level 3 Asset Fair Value	7.90%	7.10%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	8	8
Equity Method Investments [Member] | Private Venture Capital Fund Of Fund [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	29	30
Partnership Unfunded Committments	12	12
Separate Accounts [Member] | Collateralized Mortgage Backed Securities [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	2	4
Separate Accounts [Member] | Asset-backed Securities [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	3	4
Separate Accounts [Member] | Discounted Cash Flow Valuation Technique [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	15	22
Separate Accounts [Member] | Discounted Cash Flow Valuation Technique [Member] | Other Private Equity Investment [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	4	4
Separate Accounts [Member] | Third Party Appraisal Valuation Technique [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	197	194
Separate Accounts [Member] | Third Party Appraisal Valuation Technique [Member] | Mortgage Loans on Real Estate [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	11	18
Separate Accounts [Member] | Third Party Appraisal Valuation Technique [Member] | Private Real Estate Fund [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	197	194
Separate Accounts [Member] | Third Party Appraisal And Discounted Cash Flow Valuation Technique [Member] | Private Equity Funds [Member]
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 201	$ 198

XML

SEGMENT INFORMATION (TABLES)

6 Months Ended

Jun. 30, 2013

Segment Information Tables [Abstract]

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013			2012
	(In Millions)
Segment revenues:
Insurance	$	(194)	$	5,836	$	(508)	$	4,209
Investment Management(1)		737		646		1,447		1,326
Consolidation/elimination		(6)		(7)		(10)		(12)
Total Revenues	$	537	$	6,475	$	929	$	5,523

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2012		2013			2012
		(In Millions)
Segment earnings (loss) from continuing operations,
	before income taxes:
Insurance		$	(1,652)	$	3,747	$	(3,334)	$	1,082
Investment Management(2)			136		80		262		179
Consolidation/elimination			(1)		(1)		(1)		(1)
Total Earnings (Loss) from Continuing Operations,
	before income taxes	$	(1,517)	$	3,826	$	(3,073)	$	1,260

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	June 30,		December 31,
	2013		2012
	(In Millions)
Segment assets:
Insurance	$	164,575	$	164,201
Investment Management		11,679		12,647
Consolidation/elimination		(5)		(5)
Total Assets	$	176,249	$	176,843

XML

INVESTMENTS (TABLES)

6 Months Ended

Jun. 30, 2013

Investments Tables [Abstract]

Available For Sale Securities [Text Block]

Available-for-Sale Securities by Classification
					Gross		Gross
			Amortized		Unrealized		Unrealized		Fair		OTTI
			Cost		Gains		Losses		Value		in AOCI (3)
			(In Millions)
June 30, 2013:
Fixed Maturities:
	Corporate		$	20,670	$	1,527	$	171	$	22,026	$	0
	U.S. Treasury, government and agency			5,420		119		266		5,273		0
	States and political subdivisions			446		49		2		493		0
	Foreign governments			412		50		4		458		0
	Commercial mortgage-backed			1,113		14		329		798		25
	Residential mortgage-backed(1)			980		43		0		1,023		0
	Asset-backed(2)			146		10		4		152		4
	Redeemable preferred stock			1,044		54		21		1,077		0
		Total Fixed Maturities		30,231		1,866		797		31,300		29
Equity securities				24		0		0		24		0
Total at June 30, 2013			$	30,255	$	1,866	$	797	$	31,324	$	29
December 31, 2012:
Fixed Maturities:
	Corporate		$	20,854	$	2,364	$	20	$	23,198	$	0
	U.S. Treasury, government and agency			4,664		517		1		5,180		0
	States and political subdivisions			445		85		0		530		0
	Foreign governments			454		76		0		530		0
	Commercial mortgage-backed			1,175		16		291		900		13
	Residential mortgage-backed(1)			1,864		85		0		1,949		0
	Asset-backed(2)			175		12		5		182		5
	Redeemable preferred stock			1,089		60		11		1,138		0
		Total Fixed Maturities		30,720		3,215		328		33,607		18
Equity securities				23		1		0		24		0
Total at December 31, 2012			$	30,743	$	3,216	$	328	$	33,631	$	18

Investments Classified By Contractual Maturity Date [Table Text Block]

Available-for-Sale Fixed Maturities
Contractual Maturities at June 30, 2013
		Amortized Cost		Fair Value
		(In Millions)
Due in one year or less		$	666	$	672
Due in years two through five			7,460		7,975
Due in years six through ten			11,123		11,720
Due after ten years			7,699		7,883
	Subtotal		26,948		28,250
Commercial mortgage-backed securities			1,113		798
Residential mortgage-backed securities			980		1,023
Asset-backed securities			146		152
Total		$	29,187	$	30,223

Available For Sale Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments [Table Text Block]

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In Millions)
Proceeds from sales	$	912	$	28	$	1,172	$	28
Gross gains on sales	$	14	$	3	$	21	$	3
Gross losses on sales	$	(1)	$	(9)	$	(1)	$	(9)
Total OTTI	$	(50)	$	(50)	$	(64)	$	(53)
Non-credit losses recognized in OCI		15		1		15		1
Credit losses recognized in earnings (loss)	$	(35)	$	(49)	$	(49)	$	(52)

Fixed Maturities Credit Loss Impairments [Table Text Block]

	Fixed Maturities - Credit Loss Impairments
		Three Months Ended					Six Months Ended
		June 30,					June 30,
			2013		2012		2013		2012
			(In Millions)
Balances, beginning of period			$	(384)	$	(334)	$	(372)	$	(332)
Previously recognized impairments on securities that matured,
	paid, prepaid or sold			12		14		14		15
Recognized impairments on securities impaired to fair value this period(1)				0		0		0		0
Impairments recognized this period on securities not previously impaired				(35)		(17)		(49)		(20)
Additional impairments this period on securities previously impaired				0		(32)		0		(32)
Increases due to passage of time on previously recorded credit losses				0		0		0		0
Accretion of previously recognized impairments due to increases in
	expected cash flows			0		0		0		0
Balances at June 30,			$	(407)	$	(369)	$	(407)	$	(369)

Unrealized Gain Loss On Investments [Table Text Block]

			June 30,		December 31,
			2013		2012
			(In Millions)
AFS Securities:
	Fixed maturities:
		With OTTI loss	$	(35)	$	(12)
		All other		1,104		2,899
	Equity securities			0		1
Net Unrealized Gains (Losses)			$	1,069	$	2,888

Unrealized Gain Loss On Investments With Other Than Temporary Impairment [Table Text Block]

Net Unrealized Gains (Losses) on Fixed Maturities with OTTI Losses
											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, April 1, 2013			$	(8)	$	1	$	4	$	1	$	(2)
Net investment gains (losses) arising
	during the period			(12)		0		0		0		(12)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		0		0		0		0		0
		Excluded from Net earnings (loss)(1)		(15)		0		0		0		(15)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		1		0		0		1
		Deferred income taxes		0		0		0		7		7
		Policyholders' liabilities		0		0		5		0		5
Balance, June 30, 2013			$	(35)	$	2	$	9	$	8	$	(16)
Balance, April 1, 2012			$	(28)	$	1	$	4	$	8	$	(15)
Net investment gains (losses) arising
	during the period			(17)		0		0		0		(17)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		32		0		0		0		32
		Excluded from Net earnings (loss)(1)		(1)		0		0		0		(1)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		0		0		0		0
		Deferred income taxes		0		0		0		(5)		(5)
		Policyholders' liabilities		0		0		(1)		0		(1)
Balance, June 30, 2012			$	(14)	$	1	$	3	$	3	$	(7)

											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, January 1, 2013			$	(12)	$	1	$	4	$	2	$	(5)
Net investment gains (losses) arising
	during the period			(13)		0		0		0		(13)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		5		0		0		0		5
		Excluded from Net earnings (loss)(1)		(15)		0		0		0		(15)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		1		0		0		1
		Deferred income taxes		0		0		0		6		6
		Policyholders' liabilities		0		0		5		0		5
Balance, June 30, 2013			$	(35)	$	2	$	9	$	8	$	(16)
Balance, January 1, 2012			$	(47)	$	5	$	6	$	12	$	(24)
Net investment gains (losses) arising
	during the period			2		0		0		0		2
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		32		0		0		0		32
		Excluded from Net earnings (loss)(1)		(1)		0		0		0		(1)
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		(4)		0		0		(4)
		Deferred income taxes		0		0		0		(9)		(9)
		Policyholders' liabilities		0		0		(3)		0		(3)
Balance, June 30, 2012			$	(14)	$	1	$	3	$	3	$	(7)

Other Net Unrealized Investment Gains Losses In Accumulated Other Comprehensive Income [Table Text Block]

All Other Net Unrealized Investment Gains (Losses) in AOCI
											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, April 1, 2013			$	2,603	$	(121)	$	(593)	$	(661)	$	1,228
Net investment gains (losses) arising
	during the period			(1,535)		0		0		0		(1,535)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		21		0		0		0		21
		Excluded from Net earnings (loss)(1)		15		0		0		0		15
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		11		0		0		11
		Deferred income taxes		0		0		0		429		429
		Policyholders' liabilities		0		0		257		0		257
Balance, June 30, 2013			$	1,104	$	(110)	$	(336)	$	(232)	$	426
Balance, April 1, 2012			$	1,789	$	(111)	$	(380)	$	(455)	$	843
Net investment gains (losses) arising
	during the period			644		0		0		0		644
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		22		0		0		0		22
		Excluded from Net earnings (loss)(1)		1		0		0		0		1
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		(62)		0		0		(62)
		Deferred income taxes		0		0		0		(204)		(204)
		Policyholders' liabilities		0		0		(22)		0		(22)
Balance, June 30, 2012			$	2,456	$	(173)	$	(402)	$	(659)	$	1,222

											AOCI Gain
			Net								(Loss) Related
			Unrealized						Deferred		to Net
			Gains						Income		Unrealized
			(Losses) on				Policyholders'		Tax Asset		Investment
			Investments		DAC		Liabilities		(Liability)		Gains (Losses)
			(In Millions)
Balance, January 1, 2013			$	2,900	$	(179)	$	(603)	$	(741)	$	1,377
Net investment gains (losses) arising
	during the period			(1,838)		0		0		0		(1,838)
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		27		0		0		0		27
		Excluded from Net earnings (loss)(1)		15		0		0		0		15
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		69		0		0		69
		Deferred income taxes		0		0		0		509		509
		Policyholders' liabilities		0		0		267		0		267
Balance, June 30, 2013			$	1,104	$	(110)	$	(336)	$	(232)	$	426
Balance, January 1, 2012			$	1,831	$	(207)	$	(385)	$	(433)	$	806
Net investment gains (losses) arising
	during the period			601		0		0		0		601
Reclassification adjustment for OTTI losses:
		Included in Net earnings (loss)		23		0		0		0		23
		Excluded from Net earnings (loss)(1)		1		0		0		0		1
Impact of net unrealized investment
	gains (losses) on:
		DAC		0		34		0		0		34
		Deferred income taxes		0		0		0		(226)		(226)
		Policyholders' liabilities		0		0		(17)		0		(17)
Balance, June 30, 2012			$	2,456	$	(173)	$	(402)	$	(659)	$	1,222

Schedule Of Unrealized Loss On Investments [Table Text Block]

			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)
June 30, 2013:
Fixed Maturities:
	Corporate		$	3,313	$	(161)	$	98	$	(10)	$	3,411	$	(171)
	U.S. Treasury, government
		and agency		3,481		(266)		0		0		3,481		(266)
	States and political subdivisions			20		(2)		0		0		20		(2)
	Foreign governments			82		(4)		2		0		84		(4)
	Commercial mortgage-backed			45		(17)		507		(312)		552		(329)
	Residential mortgage-backed			47		0		1		0		48		0
	Asset-backed			14		0		29		(4)		43		(4)
	Redeemable preferred stock			493		(14)		86		(7)		579		(21)
Total			$	7,495	$	(464)	$	723	$	(333)	$	8,218	$	(797)
December 31, 2012:
Fixed Maturities:
Corporate			$	562	$	(5)	$	208	$	(15)	$	770	$	(20)
	U.S. Treasury, government
		and agency		513		(1)		0		0		513		(1)
	States and political subdivisions			20		0		0		0		20		0
	Foreign governments			6		0		2		0		8		0
	Commercial mortgage-backed			7		(3)		805		(288)		812		(291)
	Residential mortgage-backed			27		0		1		0		28		0
	Asset-backed			8		0		36		(5)		44		(5)
	Redeemable preferred stock			143		(1)		327		(10)		470		(11)
Total			$	1,286	$	(10)	$	1,379	$	(318)	$	2,665	$	(328)

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

Troubled Debt Restructuring - Modifications
		Number		Outstanding Recorded Investment
		of Loans		Pre-Modification		Post - Modification
June 30, 2013				(In Millions)
Troubled debt restructurings:
	Agricultural mortgage loans		0	$	0	$	0
	Commercial mortgage loans		2		126		126
Total			2	$	126	$	126

Allowance For Credit Losses On Financing Receivables [Table Text Block]

		2013		2012
Allowance for credit losses:		(In Millions)
Beginning balance, January 1,		$	34	$	32
	Charge-offs		0		(20)
	Recoveries		(2)		(1)
	Provision		4		23
Ending balance, June 30,		$	36	$	34
Ending balance, June 30,:
	Individually Evaluated for Impairment	$	36	$	34
	Collectively Evaluated for Impairment	$	0	$	0
	Loans Acquired with Deteriorated Credit Quality	$	0	$	0

Debt Service Coverage Ratio [Table Text Block]

Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios
June 30, 2013
		Debt Service Coverage Ratio
												Less		Total
		Greater		1.8x to		1.5x to		1.2x to		1.0x to		than		Mortgage
Loan-to-Value Ratio:(2)		than 2.0x		2.0x		1.8x		1.5x		1.2x		1.0x		Loans
		(In Millions)
Commercial Mortgage Loans(1)
0% - 50%		$	290	$	0	$	0	$	1	$	17	$	0	$	308
50% - 70%			517		176		590		415		89		0		1,787
70% - 90%			116		0		261		522		132		198		1,229
90% plus			126		0		0		0		107		48		281
Total Commercial
	Mortgage Loans	$	1,049	$	176	$	851	$	938	$	345	$	246	$	3,605
Agricultural Mortgage Loans(1)
0% - 50%		$	181	$	86	$	200	$	370	$	196	$	48	$	1,081
50% - 70%			116		33		185		184		147		48		713
70% - 90%			0		0		0		1		0		0		1
90% plus			0		0		0		0		0		0		0
Total Agricultural
	Mortgage Loans	$	297	$	119	$	385	$	555	$	343	$	96	$	1,795
Total Mortgage Loans(1)
0% - 50%		$	471	$	86	$	200	$	371	$	213	$	48	$	1,389
50% - 70%			633		209		775		599		236		48		2,500
70% - 90%			116		0		261		523		132		198		1,230
90% plus			126		0		0		0		107		48		281
Total Mortgage Loans		$	1,346	$	295	$	1,236	$	1,493	$	688	$	342	$	5,400

Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios
December 31, 2012
		Debt Service Coverage Ratio
												Less		Total
		Greater		1.8x to		1.5x to		1.2x to		1.0x to		than		Mortgage
Loan-to-Value Ratio:(2)		than 2.0x		2.0x		1.8x		1.5x		1.2x		1.0x		Loans
		(In Millions)
Commercial Mortgage Loans(1)
0% - 50%		$	269	$	21	$	0	$	0	$	27	$	0	$	317
50% - 70%			370		75		619		655		0		0		1,719
70% - 90%			61		102		235		445		131		15		989
90% plus			0		0		0		156		89		165		410
Total Commercial
	Mortgage Loans	$	700	$	198	$	854	$	1,256	$	247	$	180	$	3,435
Agricultural Mortgage Loans(1)
0% - 50%		$	179	$	84	$	211	$	308	$	177	$	49	$	1,008
50% - 70%			122		29		136		188		116		50		641
70% - 90%			0		0		0		1		0		8		9
90% plus			0		0		0		0		0		0		0
Total Agricultural
	Mortgage Loans	$	301	$	113	$	347	$	497	$	293	$	107	$	1,658
Total Mortgage Loans(1)
0% - 50%		$	448	$	105	$	211	$	308	$	204	$	49	$	1,325
50% - 70%			492		104		755		843		116		50		2,360
70% - 90%			61		102		235		446		131		23		998
90% plus			0		0		0		156		89		165		410
Total Mortgage Loans		$	1,001	$	311	$	1,201	$	1,753	$	540	$	287	$	5,093

Age Analysis Of Past Due Mortgage Loans [Table Text Block]

Age Analysis of Past Due Mortgage Loans
														Recorded
														Investment
						90						Total		> 90 Days
		30-59		60-89		Days						Financing		and
		Days		Days		or >		Total		Current		Receivables		Accruing
								(In Millions)
June 30, 2013
	Commercial	$	0	$	0	$	0	$	0	$	3,605	$	3,605	$	0
	Agricultural		6		4		12		22		1,773		1,795		12
Total Mortgage Loans		$	6	$	4	$	12	$	22	$	5,378	$	5,400	$	12
December 31, 2012
	Commercial	$	0	$	0	$	0	$	0	$	3,435	$	3,435	$	0
	Agricultural		6		1		10		17		1,641		1,658		9
Total Mortgage Loans		$	6	$	1	$	10	$	17	$	5,076	$	5,093	$	9

Impaired Mortgage Loans [Table Text Block]

Impaired Mortgage Loans
				Unpaid				Average		Interest
		Recorded		Principal		Related		Recorded		Income
		Investment		Balance		Allowance		Investment(1)		Recognized
		(In Millions)
June 30, 2013:
With no related allowance recorded:
	Commercial mortgage loans - other	$	0	$	0	$	0	$	0	$	0
	Agricultural mortgage loans		0		0		0		1		0
Total		$	0	$	0	$	0	$	1	$	0
With related allowance recorded:
	Commercial mortgage loans - other	$	126	$	126	$	(36)	$	141	$	2
	Agricultural mortgage loans		0		0		0		0		0
Total		$	126	$	126	$	(36)	$	141	$	2
December 31, 2012:
With no related allowance recorded:
	Commercial mortgage loans - other	$	0	$	0	$	0	$	0	$	0
	Agricultural mortgage loans		2		2		0		3		0
Total		$	2	$	2	$	0	$	3	$	0
With related allowance recorded:
	Commercial mortgage loans - other	$	170	$	170	$	(34)	$	178	$	10
	Agricultural mortgage loans		0		0		0		0		0
Total		$	170	$	170	$	(34)	$	178	$	10

Schedule Of Derivative Instruments [Text Block]

	Derivative Instruments by Category
									Gains (Losses)
			At June 30, 2013						Reported In Net
					Fair Value				Earnings (Loss)
			Notional		Asset		Liability		Six Months Ended
			Amount		Derivatives		Derivatives		June 30, 2013
			(In Millions)
Freestanding derivatives:
Equity contracts:(1)
	Futures		$	5,578	$	2	$	0	$	(644)
	Swaps			1,366		30		47		(103)
	Options			4,826		657		372		124
Interest rate contracts:(1)
	Floors			2,400		227		0		(17)
	Swaps			11,745		305		510		(681)
	Futures			9,197		0		0		(154)
	Swaptions			0		0		0		(169)
Credit contracts:(1)
	Credit default swaps			305		4		4		(3)
Other freestanding contracts:(1)
	Foreign currency contracts			109		0		0		1
		Net investment income (loss)								(1,646)
Embedded derivatives:
GMIB reinsurance contracts				0		8,707		0		(2,337)
GIB and GWBL and other features(2)				0		0		130		135
Total, June 30, 2013			$	35,526	$	9,932	$	1,063	$	(3,848)

									Gains (Losses)
			At December 31, 2012						Reported In Net
					Fair Value				Earnings (Loss)
			Notional		Asset		Liability		Six Months Ended
			Amount		Derivatives		Derivatives		June 30, 2012
			(In Millions)
Freestanding derivatives:
Equity contracts:(1)
	Futures		$	6,189	$	0	$	2	$	(560)
	Swaps			965		2		56		(137)
	Options			3,492		443		219		11
Interest rate contracts:(1)
	Floors			2,700		291		0		42
	Swaps			18,239		554		353		354
	Futures			14,033		0		0		147
	Swaptions			7,608		502		0		100
Other freestanding contracts:(1)
	Foreign currency contracts			81		1		0		1
		Net investment income (loss)								(42)
Embedded derivatives:
GMIB reinsurance contracts				0		11,044		0		834
GIB and GWBL and other features(2)				0		0		265		(43)
Total			$	53,307	$	12,837	$	895	$	749

Offsetting Assets And Liabilities [Table Text Block]

Offsetting of Financial Assets and Liabilities and Derivative Instruments
At June 30, 2013
				Gross
		Gross		Amounts		Net Amounts
		Amounts		Offset in the		Presented in the
		Recognized		Balance Sheets		Balance Sheets
		(In Millions)
ASSETS(1)
Description
Derivatives:
Equity contracts		$	682	$	418	$	264
Interest rate contracts			456		510		(54)
Credit contracts			3		3		0
	Total Derivatives, subject to an ISDA Master Agreement		1,141		931		210
Total Derivatives, not subject to an ISDA Master Agreement			75		0		75
Total Derivatives			1,216		931		285
Other financial instruments			1,049		0		1,049
	Other invested assets	$	2,265	$	931	$	1,334
LIABILITIES(2)
Description
Derivatives:
Equity contracts		$	418	$	418	$	0
Interest rate contracts			510		510		0
Credit contracts			3		3		0
	Total Derivatives, subject to an ISDA Master Agreement		931		931		0
Total Derivatives, not subject to an ISDA Master Agreement			0		0		0
Total Derivatives			931		931		0
Other financial liabilities			2,790		0		2,790
	Other liabilities	$	3,721	$	931	$	2,790

Offsetting of Financial Assets and Liabilities and Derivative Instruments
At December 31, 2012
				Gross
		Gross		Amounts		Net Amounts
		Amounts		Offset in the		Presented in the
		Recognized		Balance Sheets		Balance Sheets
		(In Millions)
ASSETS(1)
Description
Derivatives:
Equity contracts		$	444	$	272	$	172
Interest rate contracts			1,251		351		900
	Total Derivatives, subject to an ISDA Master Agreement		1,695		623		1,072
Total Derivatives, not subject to an ISDA Master Agreement			96		0		96
Total Derivatives			1,791		623		1,168
Other financial instruments			660		0		660
	Other invested assets	$	2,451	$	623	$	1,828
LIABILITIES(2)
Description
Derivatives:
Equity contracts		$	272	$	272	$	0
Interest rate contracts			351		351		0
	Total Derivatives, subject to an ISDA Master Agreement		623		623		0
Total Derivatives, not subject to an ISDA Master Agreement			0		0		0
Total Derivatives			623		623		0
Other financial liabilities			3,503		0		3,503
	Other liabilities	$	4,126	$	623	$	3,503

Collateral Arrangements By Counterparty Not Offset In Consolidated Balancesheets [Table Text Block]

Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets
At June 30, 2013
		Net Amounts		Collateral (Received)/Held
		Presented in the			Financial				Net
		Balance Sheets			Instruments		Cash		Amounts
		(In Millions)
Counterparty A		$	38		$	0	$	(17)	$	21
Counterparty B			6			0		(1)		5
Counterparty C			(51)			0		51		0
Counterparty D			212			0		(204)		8
Counterparty E			(14)			0		14		0
Counterparty F			(35)			0		35		0
Counterparty G			73			0		(73)		0
Counterparty H			(24)			0		24		0
Counterparty I			(50)			0		50		0
Counterparty J			(30)			0		30		0
Counterparty K			15			0		(14)		1
Counterparty L			41			0		(35)		6
Counterparty M			29			0		(29)		0
Counterparty N			75			0		0		75
	Total Derivatives	$	285		$	0	$	(169)	$	116
Other financial instruments			1,049			0		0		1,049
	Other invested assets	$	1,334		$	0	$	(169)	$	1,165

Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets
At December 31, 2012
		Net Amounts		Collateral (Received)/Held
		Presented in the			Financial				Net
		Balance Sheets			Instruments		Cash		Amounts
		(In Millions)
Counterparty A		$	30		$	0	$	(30)	$	0
Counterparty B			32			0		(29)		3
Counterparty C			55			0		(55)		0
Counterparty D			310			0		(310)		0
Counterparty E			38			0		(38)		0
Counterparty F			326			0		(326)		0
Counterparty G			55			0		(55)		0
Counterparty H			(5)			0		5		0
Counterparty I			98			0		(98)		0
Counterparty J			19			0		(19)		0
Counterparty K			15			0		(3)		12
Counterparty L			48			(46)		0		2
Counterparty M			51			0		(51)		0
Counterparty N			96			0		0		96
	Total Derivatives	$	1,168		$	(46)	$	(1,009)	$	113
Other financial instruments			660			0		0		660
	Other invested assets	$	1,828		$	(46)	$	(1,009)	$	773

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GMDB, GMIB, GWBL AND NO LAPSE GUARANTEE FEATURES (DETAILS) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Movement In Guaranteed Benefit Liability Gross [Line Items]
Balance, January 1,	$ 6,333	$ 5,723
Paid guarantee benefits	(158)	(166)
Other changes in reserve	142	449
Balance, end of period	6,317	6,006
Guaranteed Minimum Death Benefit [Member]
Movement In Guaranteed Benefit Liability Gross [Line Items]
Balance, January 1,	1,772	1,593
Paid guarantee benefits	(132)	(128)
Other changes in reserve	142	174
Balance, end of period	1,782	1,639
Guaranteed Minimum Death Benefit Reinsurance Ceded [Abstract]
Balance, beginning of year	844	716
Paid guarantee benefits	(59)	(53)
Other changes in reserves	85	105
Balance, end of period	870	768
Guaranteed Minimum Income Benefit [Member]
Movement In Guaranteed Benefit Liability Gross [Line Items]
Balance, January 1,	4,561	4,130
Paid guarantee benefits	(26)	(38)
Other changes in reserve	0	275
Balance, end of period	$ 4,535	$ 4,367

XML

SHARE-BASED AND OTHER COMPENSATION PROGRAMS (DETAILS)	0 Months Ended	3 Months Ended		6 Months Ended		0 Months Ended	1 Months Ended	3 Months Ended	6 Months Ended	0 Months Ended	3 Months Ended	6 Months Ended	0 Months Ended				3 Months Ended	6 Months Ended	0 Months Ended			3 Months Ended	6 Months Ended
	Jul. 02, 2013	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)	Mar. 22, 2013 Parent [Member]	Jan. 31, 2013 Alliance Bernstein [Member] USD ($)	Jun. 30, 2013 Alliance Bernstein [Member] USD ($)	Jun. 30, 2013 Alliance Bernstein [Member] USD ($)	Mar. 22, 2013 Performance Unit Plan 2013 [Member] Parent [Member]	Jun. 30, 2013 Performance Unit Plan 2013 [Member] Parent [Member] USD ($)	Jun. 30, 2013 Performance Unit Plan 2013 [Member] Parent [Member] USD ($)	Apr. 04, 2013 Performance Unit Plan 2010 [Member] Parent [Member] USD ($)	Apr. 12, 2012 Performance Unit Plan 2010 [Member] Parent [Member]	Mar. 22, 2013 Stock Option Plan 2013 [Member]	Mar. 22, 2013 Stock Option Plan 2013 [Member] Parent [Member] USD ($)	Jun. 30, 2013 Stock Option Plan 2013 [Member] Parent [Member] USD ($)	Jun. 30, 2013 Stock Option Plan 2013 [Member] Parent [Member] USD ($)	Mar. 22, 2013 Stock Option Plan 2013 [Member] Parent [Member] Four-year graded vesting schedule [Member] EUR (€)	Mar. 22, 2013 Stock Option Plan 2013 [Member] Parent [Member] Conditional Vesting Term [Member]	Mar. 16, 2012 Axa Miles [Member] Parent [Member] USD ($)	Jun. 30, 2013 Axa Miles [Member] Parent [Member] USD ($)	Jun. 30, 2013 Axa Miles [Member] Parent [Member] USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Expense (Credit)		$ 6,000,000	$ 21,000,000	$ (5,000,000)	$ 16,000,000						$ 1,000,000	$ 8,000,000					$ (152,892)	$ 297,704				$ 65,811	$ 131,622
Award Units Granted In Period										2,200,000			390,460
Range of performance units at stake low range percentage										0.00%
Range of performance units at stake high range percentage										130.00%
Stock Options Granted Shares																			457,317
Stock Options Granted Shares Per Employee																					50
Stock Option Excercise Price																			€ 13.81
Stock Options Granted With Conditional Terms																				246,000
Stock Options Granted To Each Employee With Conditional Terms																					25
Weighted Average Grant Date Fair Value																$ 1.78
Fair Value Assumptions Expected Volatility Rate																31.27%
Fair Value Assumptions Expected Term						7 years 8 months 12 days
Fair Value Assumptions Risk Expected Dividend Yield															7.52%
Fair Value Assumptions Risk Free Interest Rate																1.34%
The total fair value of options net of forfeitures																814,431					6,000,000
Cash Settlement Of Vested Units													7,000,000
Percentage Of Vested Units Settled For Cash													50.00%	50.00%
Equity Settlement Of Vested Units With Ordinary Shares Value													49,000
Purchased Holding Units to help fund anticipated obligations under its incentive compensation award program Shares								300,000	1,300,000
Purchased Holding Units to help fund anticipated obligations under its incentive compensation award program Value				27,000,000	95,000,000			7,000,000	27,000,000
Open Market Purchase Shares								300,000	1,100,000
Open Market Purchase Value								7,000,000	23,000,000
Restricted Holding Unit Awars Granted to Employees							6,500,000		6,800,000
Value of common stock held in trust							$ 129,000,000
Unallocated Holding units remaining in the consolidated rabbi trust								13,100,000	13,100,000
Decrease in AllianceBernstein and AB Holding units	13,100,000

XML

INVESTMENTS (offsetting) (Details) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Line Items Excluded From Tabular Disclosure [Abstract]
Fair Value Assets Derivatives	$ 9,932	$ 12,837
Investment Management [Member]
Line Items Excluded From Tabular Disclosure [Abstract]
Fair Value Assets Derivatives	9	2
Securities Borrowed	109	106
Equity Contract [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	682	444
Gross amounts offset in the balance sheets	418	272
Net amounts presented in the balance sheets	264	172
Interest Rate Contract [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	456	1,251
Gross amounts offset in the balance sheets	510	351
Net amounts presented in the balance sheets	(54)	900
Credit Contracts [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	3
Gross amounts offset in the balance sheets	3
Net amounts presented in the balance sheets	0
Line Items Excluded From Tabular Disclosure [Abstract]
Fair Value Assets Derivatives	4
Derivatives Subject to an ISDA Master Agreements [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	1,141	1,695
Gross amounts offset in the balance sheets	931	623
Net amounts presented in the balance sheets	210	1,072
Derivatives not subject to an ISDA Master Agreements [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	75	96
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	75	96
Total Derivatives [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	1,216	1,791
Gross amounts offset in the balance sheets	931	623
Net amounts presented in the balance sheets	285	1,168
Other Financial Instruments [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	1,049	660
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	1,049	660
Other Invested Assets [Member]
Offsetting Assets [Line Items]
Gross amounts recognized	2,265	2,451
Gross amounts offset in the balance sheets	931	623
Net amounts presented in the balance sheets	$ 1,334	$ 1,828

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INVESTMENTS (M Loans) (DETAILS1) (Commercial Real Estate Portfolio Segment [Member], USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Commercial Real Estate Portfolio Segment [Member]
Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 34	$ 32
Charge-offs	0	(20)
Recoveries	(2)	(1)
Provisions	4	23
Ending balance	36	34
Ending Balance [Abstract]:
Individually Evaluated for Impairment	$ 36	$ 34

XML

INVESTMENTS ( M Loans) (DETAILS2) (USD $) In Millions, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Commercial Real Estate Portfolio Segment [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 3,605	$ 3,435
Age Analysis of Past Due Mortgage Loans [Abstract]
Current	3,605	3,435
Total financing receivables	3,605	3,435
Commercial Real Estate Portfolio Segment [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,049	700
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,049	700
Commercial Real Estate Portfolio Segment [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	176	198
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	176	198
Commercial Real Estate Portfolio Segment [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	851	854
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	851	854
Commercial Real Estate Portfolio Segment [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	938	1,256
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	938	1,256
Commercial Real Estate Portfolio Segment [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	345	247
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	345	247
Commercial Real Estate Portfolio Segment [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	246	180
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	246	180
Commercial Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	308	317
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	308	317
Commercial Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	290	269
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	290	269
Commercial Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	21
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	21
Commercial Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Commercial Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1	0
Commercial Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	17	27
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	17	27
Commercial Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Commercial Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,787	1,719
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,787	1,719
Commercial Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	517	370
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	517	370
Commercial Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	176	75
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	176	75
Commercial Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	590	619
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	590	619
Commercial Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	415	655
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	415	655
Commercial Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	89	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	89	0
Commercial Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Commercial Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,229	989
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,229	989
Commercial Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	116	61
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	116	61
Commercial Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	102
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	102
Commercial Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	261	235
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	261	235
Commercial Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	522	445
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	522	445
Commercial Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	132	131
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	132	131
Commercial Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	198	15
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	198	15
Commercial Real Estate Portfolio Segment [Member] | More than ninty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	281	410
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	281	410
Commercial Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	126	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	126	0
Commercial Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Commercial Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Commercial Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	156
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	156
Commercial Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	107	89
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	107	89
Commercial Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	48	165
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	48	165
Commercial Real Estate Portfolio Segment [Member] | With Related Allowance Recorded [Member]
Impaired Mortgage Loans [Abstract]
Recorded Investment	126	170
Unpaid principal balance	126	170
Related allowance	(36)	(34)
Average Record investments	141	178
Interest Income recognized	2	10
Agricultural Real Estate Portfolio Segment [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,795	1,658
Age Analysis of Past Due Mortgage Loans [Abstract]
30 to 59 Days Past Due	6	6
60 to 89 Days Past Due	4	1
Greater than 90 Days Past Due	12	10
Total Past Due	22	17
Current	1,773	1,641
Total financing receivables	1,795	1,658
Recorded Investment 90 Days Past Due and Still Accruing	12	9
Agricultural Real Estate Portfolio Segment [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	297	301
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	297	301
Agricultural Real Estate Portfolio Segment [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	119	113
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	119	113
Agricultural Real Estate Portfolio Segment [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	385	347
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	385	347
Agricultural Real Estate Portfolio Segment [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	555	497
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	555	497
Agricultural Real Estate Portfolio Segment [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	343	293
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	343	293
Agricultural Real Estate Portfolio Segment [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	96	107
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	96	107
Agricultural Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,081	1,008
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,081	1,008
Agricultural Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	181	179
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	181	179
Agricultural Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	86	84
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	86	84
Agricultural Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	200	211
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	200	211
Agricultural Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	370	308
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	370	308
Agricultural Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	196	177
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	196	177
Agricultural Real Estate Portfolio Segment [Member] | Zero to fifty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	48	49
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	48	49
Agricultural Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	713	641
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	713	641
Agricultural Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	116	122
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	116	122
Agricultural Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	33	29
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	33	29
Agricultural Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	185	136
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	185	136
Agricultural Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	184	188
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	184	188
Agricultural Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	147	116
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	147	116
Agricultural Real Estate Portfolio Segment [Member] | Fifty to seventy percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	48	50
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	48	50
Agricultural Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1	9
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1	9
Agricultural Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1	1
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1	1
Agricultural Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | Seventy to ninty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	8
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	8
Agricultural Real Estate Portfolio Segment [Member] | More than ninty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | More than ninty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Agricultural Real Estate Portfolio Segment [Member] | With No Related Allowance Recorded [Member]
Impaired Mortgage Loans [Abstract]
Recorded Investment	0	2
Unpaid principal balance	0	2
Related allowance	0	0
Average Record investments	1	3
Interest Income recognized	0	0
Total Mortgages Loan [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	5,400	5,093
Age Analysis of Past Due Mortgage Loans [Abstract]
30 to 59 Days Past Due	6	6
60 to 89 Days Past Due	4	1
Greater than 90 Days Past Due	12	10
Total Past Due	22	17
Current	5,378	5,076
Total financing receivables	5,400	5,093
Recorded Investment 90 Days Past Due and Still Accruing	12	9
Total Mortgages Loan [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,346	1,001
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,346	1,001
Total Mortgages Loan [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	295	311
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	295	311
Total Mortgages Loan [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,236	1,201
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,236	1,201
Total Mortgages Loan [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,493	1,753
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,493	1,753
Total Mortgages Loan [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	688	540
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	688	540
Total Mortgages Loan [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	342	287
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	342	287
Total Mortgages Loan [Member] | Zero to fifty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,389	1,325
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,389	1,325
Total Mortgages Loan [Member] | Zero to fifty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	471	448
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	471	448
Total Mortgages Loan [Member] | Zero to fifty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	86	105
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	86	105
Total Mortgages Loan [Member] | Zero to fifty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	200	211
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	200	211
Total Mortgages Loan [Member] | Zero to fifty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	371	308
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	371	308
Total Mortgages Loan [Member] | Zero to fifty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	213	204
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	213	204
Total Mortgages Loan [Member] | Zero to fifty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	48	49
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	48	49
Total Mortgages Loan [Member] | Fifty to seventy percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	2,500	2,360
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	2,500	2,360
Total Mortgages Loan [Member] | Fifty to seventy percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	633	492
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	633	492
Total Mortgages Loan [Member] | Fifty to seventy percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	209	104
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	209	104
Total Mortgages Loan [Member] | Fifty to seventy percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	775	755
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	775	755
Total Mortgages Loan [Member] | Fifty to seventy percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	599	843
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	599	843
Total Mortgages Loan [Member] | Fifty to seventy percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	236	116
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	236	116
Total Mortgages Loan [Member] | Fifty to seventy percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	48	50
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	48	50
Total Mortgages Loan [Member] | Seventy to ninty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	1,230	998
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	1,230	998
Total Mortgages Loan [Member] | Seventy to ninty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	116	61
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	116	61
Total Mortgages Loan [Member] | Seventy to ninty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	102
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	102
Total Mortgages Loan [Member] | Seventy to ninty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	261	235
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	261	235
Total Mortgages Loan [Member] | Seventy to ninty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	523	446
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	523	446
Total Mortgages Loan [Member] | Seventy to ninty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	132	131
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	132	131
Total Mortgages Loan [Member] | Seventy to ninty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	198	23
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	198	23
Total Mortgages Loan [Member] | More than ninty percent [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	281	410
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	281	410
Total Mortgages Loan [Member] | More than ninty percent [Member] | Ratio greater than 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	126	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	126	0
Total Mortgages Loan [Member] | More than ninty percent [Member] | Ratio between 18 to 2 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Total Mortgages Loan [Member] | More than ninty percent [Member] | Ratio between 15 to 18 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	0
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	0
Total Mortgages Loan [Member] | More than ninty percent [Member] | Ratio between 12 to 15 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	0	156
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	0	156
Total Mortgages Loan [Member] | More than ninty percent [Member] | Ratio between 1 to 12 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	107	89
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	107	89
Total Mortgages Loan [Member] | More than ninty percent [Member] | Ratio less than 1 times [Member]
Mortgage Loans by Loan-to-Value & Debt Service Coverage Ratios [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	48	165
Age Analysis of Past Due Mortgage Loans [Abstract]
Total financing receivables	48	165
Total Mortgages Loan [Member] | With No Related Allowance Recorded [Member]
Impaired Mortgage Loans [Abstract]
Recorded Investment	0	2
Unpaid principal balance	0	2
Related allowance	0	0
Average Record investments	1	3
Interest Income recognized	0	0
Total Mortgages Loan [Member] | With Related Allowance Recorded [Member]
Impaired Mortgage Loans [Abstract]
Recorded Investment	126	170
Unpaid principal balance	126	170
Related allowance	(36)	(34)
Average Record investments	141	178
Interest Income recognized	$ 2	$ 10

XML

FAIR VALUE DISCLOSURES

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

FAIR VALUE DISCLOSURES

6)FAIR VALUE DISCLOSURES

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting guidance established a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value:

Level 1Unadjusted 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.

The Company defines fair value as the unadjusted quoted market prices for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument.

Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness.

Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair value measurements also are required on a non-recurring basis for certain assets, including goodwill, mortgage loans on real estate, equity real estate held for production of income, and equity real estate held for sale, only when an OTTI or other event occurs. When such fair value measurements are recorded, they must be classified and disclosed within the fair value hierarchy. At June 30, 2013 and December 31, 2012, no assets were required to be measured at fair value on a non-recurring basis.

Fair Value Measurements at June 30, 2013
				Level 1		Level 2		Level 3		Total
				(In Millions)
Assets:
Investments:
	Fixed maturities, available-for-sale:
		Corporate		$	6	$	21,801	$	219	$	22,026
		U.S. Treasury, government and agency			0		5,273		0		5,273
		States and political subdivisions			0		444		49		493
		Foreign governments			0		441		17		458
		Commercial mortgage-backed			0		18		780		798
		Residential mortgage-backed(1)			0		1,017		6		1,023
		Asset-backed(2)			0		51		101		152
		Redeemable preferred stock			256		806		15		1,077
			Subtotal		262		29,851		1,187		31,300
	Other equity investments				153		0		61		214
	Trading securities				412		2,807		0		3,219
	Other invested assets:
		Short-term investments			0		122		0		122
		Swaps			0		(222)		0		(222)
		Futures			2		0		0		2
		Options			0		285		0		285
		Floors			0		227		0		227
		Swaptions			0		0		0		0
			Subtotal		2		412		0		414
Cash equivalents					792		0		0		792
Segregated securities					0		835		0		835
GMIB reinsurance contracts					0		0		8,707		8,707
Separate Accounts' assets					96,716		2,734		216		99,666
		Total Assets		$	98,337	$	36,639	$	10,171	$	145,147
Liabilities
GWBL and other features' liability				$	0	$	0	$	130	$	130
		Total Liabilities		$	0	$	0	$	130	$	130

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

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

Fair Value Measurements at December 31, 2012
				Level 1		Level 2		Level 3		Total
				(In Millions)
Assets:
Investments:
	Fixed maturities, available-for-sale:
		Corporate		$	6	$	22,837	$	355	$	23,198
		U.S. Treasury, government and agency			0		5,180		0		5,180
		States and political subdivisions			0		480		50		530
		Foreign governments			0		511		19		530
		Commercial mortgage-backed			0		0		900		900
		Residential mortgage-backed(1)			0		1,940		9		1,949
		Asset-backed(2)			0		69		113		182
		Redeemable preferred stock			242		881		15		1,138
			Subtotal		248		31,898		1,461		33,607
	Other equity investments				78		0		77		155
	Trading securities				446		1,863		0		2,309
	Other invested assets:
		Short-term investments			0		98		0		98
		Swaps			0		148		0		148
		Futures			(2)		0		0		(2)
		Options			0		224		0		224
		Floors			0		291		0		291
		Swaptions			0		502		0		502
			Subtotal		(2)		1,263		0		1,261
Cash equivalents					2,289		0		0		2,289
Segregated securities					0		1,551		0		1,551
GMIB reinsurance contracts					0		0		11,044		11,044
Separate Accounts' assets					90,751		2,775		224		93,750
		Total Assets		$	93,810	$	39,350	$	12,806	$	145,966
Liabilities:
GWBL and other features' liability				$	0	$	0	$	265	$	265
		Total Liabilities		$	0	$	0	$	265	$	265

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

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

At June 30, 2013 and December 31, 2012, respectively, the fair value of public fixed maturities is approximately $23,439 million and $25,591 million or approximately 17.3% and 19.2% of the Company's total assets measured at fair value on a recurring basis (excluding GMIB reinsurance contracts and segregated securities measured at fair value on a recurring basis). The fair values of the Company's public fixed maturity securities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturity securities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. If the pricing information received from independent valuation service providers is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process in accordance with the terms of the respective independent valuation service provider agreement. If as a result it is determined that the independent valuation service provider is able to reprice the security in a manner agreed as more consistent with current market observations, the security remains within Level 2. Alternatively, a Level3 classification may result if the pricing information then is sourced from another vendor, non-binding broker quotes, or internally-developed valuations for which the Company's own assumptions about market-participant inputs would be used in pricing the security.

At June 30, 2013 and December 31, 2012, respectively, the fair value of private fixed maturities is approximately $7,861 million and $8,016 million or approximately 5.8% and 6.0% of the Company's total assets measured at fair value on a recurring basis. The fair values of the Company's private fixed maturities, which primarily are comprised of investments in private placement securities generally are determined using a discounted cash flow model. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model may also incorporate unobservable inputs, which reflect the Company's own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made.

As disclosed in Note 3, at June 30, 2013 and December 31, 2012, respectively, the net fair value of freestanding derivative positions is approximately $292 million and $1,163 million or approximately 70.5% and 92.2% of Other invested assets measured at fair value on a recurring basis. The fair values of the Company's derivative positions are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable.If the pricing information received from independent valuation service providers is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process in accordance with the terms of the respective independent valuation service provider agreement. If as a result it is determined that the independent valuation service provider is able to reprice the derivative instrument in a manner agreed as more consistent with current market observations, the position remains within Level 2.

The credit risk of the counterparty and of the Company are considered in determining the fair values of all OTC derivative asset and liability positions, respectively, after taking into account the effects of master netting agreements and collateral arrangements. Each reporting period, the Company values its derivative positions using the standard swap curve and evaluates whether to adjust the embedded credit spread to reflect changes in counterparty or its own credit standing. As a result, the Company reduced the fair value of its OTC derivative asset exposures by $1 million at June 30, 2013 to recognize incremental counterparty non-performance risk. The unadjusted swap curve was determined to be reflective of the non-performance risk of the Company for purpose of determining the fair value of its OTC liability positions at June 30, 2013.

At June 30, 2013 and December 31, 2012, respectively, investments classified as Level 1 comprise approximately 72.5% and 70.3% of assets measured at fair value on a recurring basis and primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less, and are carried at cost as a proxy for fair value measurement due to their short-term nature.

At June 30, 2013 and December 31, 2012, respectively, investments classified as Level 2 comprise approximately 26.4% and 28.4% of assets measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security's duration, also taking into consideration issuer-specific credit quality and liquidity. Segregated securities classified as Level 2 are U.S. Treasury Bills segregated by AllianceBernstein in a special reserve bank custody account for the exclusive benefit of brokerage customers, as required by Rule 15c3-3 of the Exchange Act and for which fair values are based on quoted yields in secondary markets.

Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. At June 30, 2013 and December 31, 2012, respectively, approximately $1,043million and $1,966 million of AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors.

At June 30, 2013 and December 31, 2012, respectively, investments classified as Level 3 comprise approximately 1.1% and 1.3% of assets measured at fair value on a recurring basis and primarily include corporate debt securities, such as private fixed maturities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification at June 30, 2013 and December 31, 2012, respectively, were approximately $213 million and $222 million of fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company applies various due-diligence procedures, as considered appropriate, to validate these non-binding broker quotes for reasonableness, based on its understanding of the markets, including use of internally-developed assumptions about inputs a market participant would use to price the security. In addition, approximately $878 million and $1,021 million of mortgage- and asset-backed securities, including CMBS, are classified as Level 3 at June 30, 2013 and December 31, 2012, respectively. At June 30, 2013, the Company changed its methodology for measuring the fair value of CMBS securities below the senior AAA tranche from a risk-adjusted present value technique to pricing obtained froman independent valuation service vendor as returning liquidity in CMBS markets contributed to the availability of more reliable and representative measures of fair value. The impact for implementation of this change was approximately a $147 million (pre-DAC and pre-tax) reduction in the fair value of the CMBS portfolio at June 30, 2013, recognized as an unrealized loss through OCI. In applying the risk-adjusted present value technique in periods prior to June 30, 2013, the Company adjusted the projected cash flows of these securities for origination year, default metrics, and level of subordination, with the objective of maximizing observable inputs, and weighted the result with a 10% attribution to pricing sourced from a third party service whose process placed significant reliance on market trading activity.

The Company also issues certain benefits on its variable annuity products that are accounted for as derivatives and are also considered Level 3. The GMWB feature allows the policyholder to withdraw at minimum, over the life of the contract, an amount based on the contract's benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract's benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base.

Level 3 also includes the GMIB reinsurance contract asset which is accounted for as derivative contracts. The GMIB reinsurance contract asset's fair value reflects the present value of reinsurance premiums and recoveries and risk margins over a range of market consistent economic scenarios while the GIB and GWBL and other features related liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins, attributable to the GIB and GWBL and other features over a range of market-consistent economic scenarios. The valuations of both the GMIB reinsurance contract asset and GIB and GWBL and other features' liability incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Account funds consistent with the S&P 500 Index. The credit risks of the counterparty and of the Company are considered in determining the fair values of its GMIB reinsurance contract asset and GIB and GWBL and other features' liability positions, respectively, after taking into account the effects of collateral arrangements. Incremental adjustment to the swap curve, adjusted for non-performance risk,is made to the resulting fair values of the GMIB reinsurance contract asset to reflect change in the claims-paying ratings of counterparties to the reinsurance treaties. After giving consideration to collateral arrangements, the Company reduced the fair value of its GMIB reinsurance contract asset by $341 million and $447 million at June 30, 2013 and December 31, 2012, respectively, to recognize incremental counterparty non-performance risk. The unadjusted swap curve was determined to be reflective of the AA quality claims-paying rating of AXA Equitable, therefore, no incremental adjustment was made for non-performance risk for purpose of determining the fair value of the GIB and GWBL and other features' liability embedded derivative at June 30, 2013.Equity and fixed income volatilities are combined, with weighting based on the current fund distribution, to produce an overall volatility assumption. Scenarios are developed that value an at the money option at a price consistent with the overall volatility.

In the first six months of 2013, AFS fixed maturities with fair values of $23 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $5 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 0.2% of total equity at June 30, 2013. In the second quarter of 2013, one of the Company's private securities went public and as a result, $19 million was transferred from a Level 3 classification to a Level 2 classification.

In the first six months of 2012, AFS fixed maturities with fair values of $99 millionwere transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $7 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 0.7% of total equity at June 30, 2012.

The table below presents a reconciliation for all Level 3 assets and liabilities for the second quarter and first six months of 2013 and 2012, respectively:

Level 3 Instruments
Fair Value Measurements
							State and
							Political				Commercial		Residential
							Sub-		Foreign		Mortgage-		Mortgage-		Asset-
					Corporate		divisions		Govts		backed		backed		backed
					(In Millions)
Balance, April 1, 2013					$	327	$	50	$	20	$	929	$	7	$	108
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			1		0		0		(1)		0		0
			Investment gains (losses), net			2		0		0		(37)		0		0
				Subtotal		3		0		0		(38)		0		0
		Other comprehensive income (loss)				(3)		(1)		0		(92)		0		(1)
Purchases						0		0		(2)		0		0		0
Issues						0		0		0		0		0		0
Sales						(113)		0		0		(2)		(1)		(6)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						5		0		0		0		0		0
Transfers out of Level 3(1)						0		0		(1)		(17)		0		0
Balance, June 30, 2013					$	219	$	49	$	17	$	780	$	6	$	101
Balance, April 1, 2012					$	394	$	52	$	20	$	933	$	12	$	165
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			0		0		0		0		0		0
			Investment gains (losses), net			0		0		0		(51)		0		0
				Subtotal		0		0		0		(51)		0		0
		Other comprehensive income (loss)				(2)		0		0		41		0		(1)
Purchases						25		0		0		0		0		0
Issues						0		0		0		0		0		0
Sales						(21)		0		0		(17)		(1)		(7)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						5		0		0		0		0		0
Transfers out of Level 3(1)						(18)		0		(20)		0		0		(18)
Balance, June 30, 2012					$	383	$	52	$	0	$	906	$	11	$	139

• Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values.

							State and
							Political				Commercial		Residential
							Sub-		Foreign		Mortgage-		Mortgage-		Asset-
					Corporate		divisions		Govts		backed		backed		backed
					(In Millions)
Balance, January 1, 2013					$	355	$	50	$	19	$	900	$	9	$	113
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			1		0		0		(1)		0		0
			Investment gains (losses), net			3		0		0		(57)		0		0
				Subtotal		4		0		0		(58)		0		0
		Other comprehensive income (loss)				2		0		(2)		(42)		0		0
Purchases						0		0		0		0		0		0
Issues						0		0		0		0		0		0
Sales						(142)		(1)		0		(2)		(3)		(12)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						5		0		0		0		0		0
Transfers out of Level 3(1)						(5)		0		0		(18)		0		0
Balance, June 30, 2013					$	219	$	49	$	17	$	780	$	6	$	101
Balance, January 1, 2012					$	432	$	53	$	22	$	902	$	14	$	172
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)			0		0		0		1		0		0
			Investment gains (losses), net			0		0		0		(54)		0		0
				Subtotal		0		0		0		(53)		0		0
		Other comprehensive income (loss)				1		0		0		78		0		0
Purchases						25		0		0		0		0		0
Issues						0		0		0		0		0		0
Sales						(25)		(1)		0		(21)		(3)		(13)
Settlements						0		0		0		0		0		0
Transfers into Level 3(1)						7		0		0		0		0		0
Transfers out of Level 3(1)						(57)		0		(22)		0		0		(20)
Balance, June 30, 2012					$	383	$	52	$	0	$	906	$	11	$	139

• Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values.

						Redeem-										GWBL
						able		Other		Other		GMIB		Separate		and Other
						Preferred		Equity		Invested		Reinsurance		Accounts		Features
						Stock		Investments(1)		Assets		Asset		Assets		Liability
						(In Millions)
Balance, April 1, 2013						$	15	$	75	$	0	$	9,856	$	221	$	173
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		0		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contract asset			0		0		0		(1,203)		0		0
			Policyholders' benefits				0		0		0		0		0		(63)
					Subtotal		0		0		0		(1,203)		0		(63)
		Other comprehensive income (loss)					0		(14)		0		0		0		0
Purchases							0		0		0		61		0		20
Issues							0		0		0		0		0		0
Sales							0		0		0		(7)		(5)		0
Settlements							0		0		0		0		0		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		0		0		0		0
Balance, June 30, 2013						$	15	$	61	$	0	$	8,707	$	216	$	130
Balance, April 1, 2012						$	14	$	59	$	(59)	$	8,704	$	221	$	193
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		1		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contract asset			0		0		0		2,631		0		0
			Policyholders' benefits				0		0		0		0		0		129
					Subtotal		0		0		0		2,631		1		129
		Other comprehensive income (loss)					1		(1)		0		0		0		0
Purchases							0		0		0		60		6		12
Issues							0		0		0		0		0		0
Sales							0		0		0		(14)		(4)		0
Settlements							0		0		0		0		(1)		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		59		0		(1)		0
Balance, June 30, 2012						$	15	$	58	$	0	$	11,381	$	222	$	334

• Includes Trading securities' Level 3 amount.
• Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values.

						Redeem-										GWBL
						able		Other		Other		GMIB		Separate		and Other
						Preferred		Equity		Invested		Reinsurance		Accounts		Features
						Stock		Investments(1)		Assets		Asset		Assets		Liability
						(In Millions)
Balance, January 1, 2013						$	15	$	77	$	0	$	11,044	$	224	$	265
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		(5)		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contracts			0		0		0		(2,437)		0		0
			Policyholders' benefits				0		0		0		0		0		(171)
					Subtotal		0		0		0		(2,437)		(5)		(171)
		Other comprehensive income (loss)					0		(16)		0		0		0		0
Purchases							0		0		0		121		0		36
Issues							0		0		0		0		0		0
Sales							0		0		0		(21)		(2)		0
Settlements							0		0		0		0		(1)		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		0		0		0		0
Balance, June 30, 2013						$	15	$	61	$	0	$	8,707	$	216	$	130
Balance, January 1, 2012						$	14	$	77	$	(2)	$	10,547	$	215	$	291
	Total gains (losses), realized and
		unrealized, included in:
		Earnings (loss) as:
			Net investment income (loss)				0		0		0		0		4		0
			Investment gains (losses), net				0		0		0		0		0		0
			Increase (decrease) in the fair value
				of the reinsurance contracts			0		0		0		743		0		0
			Policyholders' benefits				0		0		0		0		0		25
					Subtotal		0		0		0		743		4		25
		Other comprehensive income (loss)					1		(19)		0		0		0		0
Purchases							0		0		0		121		7		18
Issues							0		0		0		0		0		0
Sales							0		0		0		(30)		(2)		0
Settlements							0		0		0		0		(2)		0
Transfers into Level 3(2)							0		0		0		0		0		0
Transfers out of Level 3(2)							0		0		2		0		0		0
Balance, June 30, 2012						$	15	$	58	$	0	$	11,381	$	222	$	334

• Includes Trading securities' Level 3 amount.
• Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values.

The table below details changes in unrealized gains (losses) for the second quarterand first six months of 2013 and 2012 by category for Level 3 assets and liabilities still held at June 30, 2013 and 2012, respectively:

					Earnings (Loss)
									Increase
					Net		Investment		(Decrease) in the
					Investment		Gains		Fair Value of the				Policy-
					Income		(Losses),		Reinsurance				holders'
					(Loss)		Net		Contract Asset		OCI		Benefits
					(In Millions)
Level 3 Instruments
Second Quarter 2013
Held at June 30, 2013:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	(4)	$	0
			State and political subdivisions			0		0		0		(1)		0
			Foreign governments			0		0		0		(2)		0
			Commercial mortgage-backed			0		0		0		(90)		0
			Asset-backed			0		0		0		(1)		0
			Other fixed maturities, available-for-sale			0		0		0		0		0
				Subtotal	$	0	$	0	$	0	$	(98)	$	0
		Other equity investments				0		0		0		0		0
		GMIB reinsurance contracts				0		0		(1,149)		0		0
		Separate Accounts’ assets				0		(5)		0		0		0
		GWBL and other features’ liability				0		0		0		0		43
				Total	$	0	$	(5)	$	(1,149)	$	(98)	$	43
Level 3 Instruments
Second Quarter 2012
Held at June 30, 2012:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	(2)	$	0
			Commercial mortgage-backed			0		0		0		40		0
			Asset-backed			0		0		0		(1)		0
			Other fixed maturities, available-for-sale			0		0		0		0		0
				Subtotal	$	0	$	0	$	0	$	37	$	0
		Other equity investments				0		0		0		(1)		0
		GMIB reinsurance contracts				0		0		2,677		0		0
		Separate Accounts’ assets				0		1		0		0		0
		GWBL and other features’ liability				0		0		0		0		(141)
				Total	$	0	$	1	$	2,677	$	36	$	(141)

• There were no Equity securities classified as AFS, Cash equivalents or Segregated securities at June 30, 2013 and 2012.

					Earnings (Loss)
									Increase
					Net		Investment		(Decrease) in
					Investment		Gains		Fair Value of				Policy-
					Income		(Losses),		Reinsurance				holders'
					(Loss)		Net		Contracts		OCI		Benefits
					(In Millions)
Level 3 Instruments
First Six Months of 2013
Held at June 30, 2013:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	2	$	0
			Commercial mortgage-backed			0		0		0		(47)		0
			Asset-backed			0		0		0		0		0
			Other fixed maturities, available-for-sale			0		0		0		(2)		0
				Subtotal	$	0	$	0	$	0	$	(47)	$	0
		Other equity investments				0		0		0				0
		GMIB reinsurance contracts				0		0		(2,337)		0		0
		Separate Accounts’ assets				0		(5)		0		0		0
		GWBL and other features’ liability				0		0		0		0		135
				Total	$	0	$	(5)	$	(2,337)	$	(47)	$	135
Level 3 Instruments
First Six Months of 2012
Held at June 30, 2012:(1)
	Change in unrealized gains (losses):
		Fixed maturities, available-for-sale:
			Corporate		$	0	$	0	$	0	$	1	$	0
			Commercial mortgage-backed			0		0		0		78		0
			Asset-backed			0		0		0		0		0
			Other fixed maturities, available-for-sale			0		0		0		0		0
				Subtotal	$	0	$	0	$	0	$	79	$	0
		Other equity investments				0		0		0		(19)		0
		GMIB reinsurance contracts				0		0		834		0		0
		Separate Accounts’ assets				0		3		0		0		0
		GWBL and other features’ liability				0		0		0		0		(43)
				Total	$	0	$	3	$	834	$	60	$	(43)

• There were no Equity securities classified as AFS, Cash equivalents or Segregated securities at June 30, 2013 and 2012.

The following tables disclose quantitative information about Level 3fair value measurements by category for assets and liabilities as of June30, 2013 and December 31, 2012, respectively.

Quantitative Information about Level 3 Fair Value Measurements
June 30, 2013
			Fair		Valuation		Significant
			Value		Technique		Unobservable Input		Range
Assets:			(In Millions)
Investments:
	Fixed maturities, available-for-sale:
		Corporate	$	82	Matrix pricing model		Spread over the industry-specific
							benchmark yield curve		100 bps - 575 bps
		Residential mortgage-backed		1	Matrix pricing model		Spread over U.S. Treasury curve		45 bps
		Asset-backed		8	Matrix pricing model		Spread over U.S. Treasury curve		0 bps - 687 bps
	Other equity investments			25	Market comparable		Revenue multiple		0.7x - 62.5x
						companies	R&D multiple		1.0x - 32.4x
							Discount rate		18.0%
							Discount years		1.5
							Discount for lack of marketability
								and risk factors	50.0% - 60.0%
Separate Accounts' assets				197	Third party appraisal		Capitalization rate		5.4%
							Exit capitalization rate		6.5%
							Discount rate		7.6%
				15	Discounted cash flow		Spread over U.S. Treasury curve		252 bps - 355 bps
							Inflation rate		2.0% - 3.0%
							Discount factor		1.0% - 5.5%

GMIB reinsurance contracts		8,707	Discounted Cash flow	Lapse Rates	1.5% - 8.0%
				Withdrawal Rates	0.2% - 8.0%
				GMIB Utilization Rates	0.0% -15.0%
				Non-performance risk	11 bps - 43 bps
				Volatility rates - Equity	23.0% - 34.0%
Liabilities:
GMWB/GWBL(1)	$	128	Discounted Cash flow	Lapse Rates	1.0% - 8.0%
				Withdrawal Rates	0.0% - 7.0%
				Volatility rates - Equity	23.0% - 34.0%

• Excludes GMAB and GIB liabilities.

Quantitative Information about Level 3 Fair Value Measurements
December 31, 2012
			Fair		Valuation		Significant
			Value		Technique		Unobservable Input		Range
Assets:			(In Millions)
Investments:
	Fixed maturities, available-for-sale:
		Corporate	$	94	Matrix pricing model		Spread over the industry-specific
							benchmark yield curve		125 bps - 650 bps
		Commercial mortgage-backed		889	Discounted Cash flow		Constant default rate		3.0% - 25.0%
							Probability of default		55.0%
							Loss severity		49.0%
							Discount rate		3.72% - 13.42%
		Residential mortgage-backed		1	Matrix pricing model		Spread over U.S. Treasury curve		46 bps
		Asset-backed		8	Matrix pricing model		Spread over U.S. Treasury curve		30 bps - 695 bps
	Other equity investments			38	Market comparable		Revenue multiple		0.6x - 62.5x
						companies	R&D multiple		1.0x - 30.6x
							Discount rate		18.0%
							Discount years		1 - 2
							Discount for lack of marketability
								and risk factors	40.0% - 60.0%
Separate Accounts' assets				194	Third party appraisal		Capitalization rate		5.5%
							Exit capitalization rate		6.6%
							Discount rate		7.7%
				22	Discounted cash flow		Spread over U.S. Treasury curve		275 bps - 586 bps
							Inflation rate		2.0% - 3.0%
							Discount factor		1.0% - 2.0%

GMIB reinsurance contracts		11,044	Discounted Cash flow	Lapse Rates	1.5% - 8.0%
				Withdrawal Rates	0.2% - 8.0%
				GMIB Utilization Rates	0.0% - 15.0%
				Non-performance risk	13 bps - 45 bps
				Volatility rates - Equity	24.0%- 36.0%
Liabilities:
GMWB/GWBL(1)	$	205	Discounted Cash flow	Lapse Rates	1.0% - 8.0%
				Withdrawal Rates	0.0% - 7.0%
				Volatility rates - Equity	24.0% - 36.0%

• Excludes GMAB and GIB liabilities.

Excluded from the tables above at June 30, 2013 and December 31, 2012, are approximately $1,136 million and $516 million, respectively,Level 3 fairvalue measurements of investments for which the underlying quantitative inputs are not developed by the Company and are not reasonably available. The fair value measurements of these Level 3 investments comprise approximately 77.6% and 29.3% of total assets classified as Level 3 at June 30, 2013 and December 31, 2012, respectively, and represent only 0.8% and 0.4% of total assets measured at fair value on a recurring basis. These investments primarily consist of certain privately placed debt securities with limited trading activity, including commercial mortgage-, residential mortgage- and asset-backed instruments, and their fair values generally reflect unadjusted prices obtained from independent valuation service providers and indicative, non-binding quotes obtained from third-party broker-dealers recognized as market participants. Significant increases or decreases in the fair value amounts received from these pricing sources may result in the Company's reporting significantly higher or lower fair value measurements for these Level 3 investments.

Included in the tables aboveat June 30, 2013 and December 31, 2012, respectively, are approximately $82 million and $94 million fair value of privately placed, available-for-sale corporate debt securities classified as Level 3 that is determined by application of a matrix pricing model, representing approximately 37.4% and 26.5% of the total fair value of Level 3 securities in the corporate fixed maturities asset class. The significant unobservable input to the matrix pricing model is the spread over the industry-specific benchmark yield curve. Generally, an increase or decrease in spreads would lead to directionally inverse movement in the fair value measurements of these securities.

At December 31, 2012, commercial mortgage-backed securities classified as Level 3 consist of holdings subordinate to the AAA-tranche position and for which the Company applies a discounted cash flow methodology to measure fair value. The process for determining fair value first adjusts the contractual principal and interest payments to reflect performance expectations and then discounts the securities' cash flows to reflect an appropriate risk-adjusted return. The significant unobservable inputs used in these fair value measurements are default rate and probability, loss severity, and the discount rate. An increase either in the cumulative default rate, probability of default, or loss severity would result in a decrease in the fair value of these securities; generally, those assumptions would change in a directionally similar manner. A decrease in the discount rate would result in directionally inverse movement in the fair value measurement of these securities.

Residential mortgage-backed securities classified as Level 3 primarily consist of non-agency paper with low trading activity. Included in the tables aboveat June 30, 2013and December 31, 2012, are approximately 16.7% and 11.1%, respectively,of the total fair value of these Level 3 securities that is determined by application of a matrix pricing model and for which the spread over the U.S. Treasury curve is the most significant unobservable input to the pricing result. Generally, a change in spreads would lead to directionally inverse movement in the fair value measurements of these securities.

Asset-backed securities classified as Level 3 primarily consist of non-agency mortgage loan trust certificates, including subprime and Alt-A paper, credit tenant loans, and equipment financings. Included in the tables above at June 30, 2013and December 31, 2012, are approximately 7.9% and 7.1%, respectively,of the total fair value of these Level 3 securities that is determined by application of a matrix pricing model and for which the spread over theU.S. Treasury curve is the most significant unobservable input to the pricing result. Significant increases (decreases) in spreads would result in significantly lower (higher) fair value measurements.

Other equity investments classified as Level 3 primarily consist of private venture capital fund investments of AllianceBernstein for which fair values are adjusted to reflect expected exit values as evidenced by financing and sale transactions with third parties or when consideration of other factors, such as current company performance and market conditions, is determined by management to require valuation adjustment. Significant increase (decrease) in isolation in the underlying enterprise value to revenue multiple and enterprise value to R&D investment multiple, if applicable, would result in significantly higher (lower) fair value measurement. Significant increase (decrease) in the discount rate would result in a significantly lower (higher) fair value measurement. Significant increase (decrease) in isolation in the discount factor ascribed for lack of marketabilityand various risk factors would result in significantly lower (higher) fair value measurement. Changes in the discount factor generally are not correlated to changes in the value multiples. Also classified as Level 3 at June 30, 2013 and December 31, 2012, respectively, are approximately $29 million and $30 million private venture capital fund-of-fund investments of AllianceBernstein for which fair value is estimated using the capital account balances provided by the partnerships. The interests in these partnerships cannot be redeemed. As of June 30, 2013 and December 31, 2012, AllianceBernstein's aggregate unfunded commitments to these investments were approximately $12 million and $12 million, respectively.

Separate Accounts' assets classified as Level 3 at June 30, 2013 and December 31, 2012, primarily consist of private equity investments with fair value of approximately $201 million and $198 million, respectively, including approximately $197 million and $194 million fair value investment in a private real estate fund, as well as mortgage loans with fair value of approximately $11 million and $18 million. Third party appraisal is used to measure the fair value of the private real estate investment fund, including consideration of observable replacement cost and sales comparisons for the underlying commercial properties, as well as the results from applying a discounted cash flow approach. Significant increase (decrease) in isolation in the capitalization rate and exit capitalization rate assumptions used in the discounted cash flow approach to appraisal value would result in a higher (lower) measure of fair value. A discounted cash flow approach also is applied to determine the approximately $4 million and $4 million fair value of the other private equity investment and for which the significant unobservable assumptions are an inflation rate formula and a discount factor that takes into account various risks, including the illiquid nature of the investment at June 30, 2013 and December 31, 2012, respectively. A significant increase (decrease) in the inflation rate would have directionally inverse effect on the fair value of the security. With respect to the fair value measurement of mortgage loans, a significant increase (decrease) in the assumed spread over US Treasuries would produce a lower (higher) fair value measurement. Changes in the discount rate or factor used in the valuation techniques to determine the fair values of these private equity investments and mortgage loans generally are not correlated to changes in the other significant unobservable inputs. Significant increase (decrease) in isolation in the discount rate or factor would result in significantly lower (higher) fair value measurements. The remaining Separate Accounts' investments classified as Level 3 at June 30, 2013and December 31, 2012 consist of mortgage- and asset-backed securities with fair values of approximately $2 million, $3 million, $4 million and $4 million, respectively, and for which those measurements are determined using substantially the same valuation techniques as earlier described above for the Company's General Account investments in these securities.

Significant unobservable inputs with respect to the fair value measurement of the Level 3 GMIB reinsurance contract asset and the Level 3 liabilities identified in the table above are developed using Company data. Validations of unobservable inputs are performed to the extent the Company has experience. When an input is changed the model is updated and the results of each step of the model are analyzed for reasonableness.

The significant unobservable inputs used in the fair value measurement of the Company's GMIB reinsurance contract asset are lapse rates, withdrawal rates and GMIB utilization rates. Significant increases in GMIB utilization rates or decreases in lapse or withdrawal rates in isolation would tend to increase the GMIB reinsurance contract asset.

Fair value measurement of the GMIB reinsurance contract asset includes dynamic lapse and GMIB utilization assumptions whereby projected contractual lapses and GMIB utilization reflect the projected net amount of risks of the contract. As the net amount of risk of a contract increases, the assumed lapse rate decreases and the GMIB utilization increases. Increases in volatility would increase the asset.

The significant unobservable inputs used in the fair value measurement of the Company's GMWB and GWBL liability are lapse rates and withdrawal rates. Significant increases in withdrawal rates or decreases in lapse rates in isolation would tend to increase these liabilities.Increases in volatility would increase these liabilities.

The carrying values and fair values at June 30, 2013 and December 31, 2012 for financial instruments not otherwise disclosed in Note 3 are presented in the table below. Certain financial instruments are exempt from the requirements for fair value disclosure, such as insurance liabilities other than financial guarantees and investment contracts and pension and other postretirement obligations.

		June 30, 2013
		Carrying		Fair Value
		Value		Level 1		Level 2		Level 3		Total
		(In Millions)
Consolidated:
	Mortgage loans on real estate	$	5,364	$	0	$	0	$	5,502	$	5,502
	Other limited partnership interests		1,618		0		0		1,618		1,618
	Loans to affiliates		1,035		0		734		400		1,134
	Policyholders' liabilities: Investment contracts		2,466		0		0		2,557		2,557
	Long-term debt		200		0		229		0		229
	Loans from affiliates		825		0		960		0		960

		December 31, 2012
		Carrying		Fair Value
		Value		Level 1		Level 2		Level 3		Total
		(In Millions)
Consolidated:
	Mortgage loans on real estate	$	5,059	$	0	$	0	$	5,249	$	5,249
	Other limited partnership interests		1,514		0		0		1,514		1,514
	Loans to affiliates		1,037		0		784		402		1,186
	Policyholders' liabilities: Investment contracts		2,494		0		0		2,682		2,682
	Long-term debt		200		0		236		0		236
	Loans from affiliates		1,325		0		1,676		0		1,676

Fair values for commercial and agricultural mortgage loans on real estate are measured by discounting future contractual cash flows to be received on the mortgage loan using interest rates at which loans with similar characteristics and credit quality would be made. The discount rate is derived from taking the appropriate U.S Treasury rate with a like term to the remaining term of the loan and adding a spread reflective of the risk premium associated with the specific loan. Fair values for mortgage loans anticipated to be foreclosed and problem mortgage loans are limited to the fair value of the underlying collateral, if lower.

Other limited partnership interests and other equity investments, including interests in investment companies, are accounted for under the equity method and for which the carrying value provides a reasonable estimate of fair value as the underlying investments of these partnerships are valued at estimated fair value.

Fair values for the Company's long-term debt are determined from quotations provided by brokers knowledgeable about these securities and internally assessed for reasonableness. The fair values of the Company's borrowing and lending arrangements with AXA affiliated entities are determined in the same manner as for such transactions with third parties, including matrix pricing models for debt securities and discounted cash flow analysis for mortgage loans.

The fair values for the Company's association plans contracts, supplementary contracts not involving life contingencies (“SCNILC”), deferred annuities and certain annuities, which are included in Policyholder's account balances are estimated using projected cash flows discounted at rates reflecting current market rates. Significant unobservable inputs reflected in the cash flows include lapse rates and withdrawal rates. Incremental adjustments may be made to the fair value to reflect non-performance risk. Certain other products such as Access Accounts are held at book value.

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ORGANIZATIONS (DETAILS)	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
AXA Equitable [Member]
Economic Interest In Subsidiary	38.20%	39.50%
Parent Company [Member]
Economic Interest In Subsidiary	64.20%	65.50%

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CLOSED BLOCKS (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Closed Block Liabilities [Abstract]
Future policy benefits and other policyholders liabilities	$ 7,806		$ 7,806		$ 7,942
Policyholder dividend obligation	166		166		373
Other liabilities	93		93		192
Total Closed Block liabilities	8,065		8,065		8,507
Assets Designated To Closed Block [Abstract]
Fixed maturities, available for sale, at fair value	5,336		5,336		5,741
Mortgage loans on real estate	1,251		1,251		1,255
Policy loans	969		969		1,026
Cash and other invested assets	78		78		30
Other assets	192		192		204
Total assets designated to the Closed Block	7,826		7,826		8,256
Excess of Closed Block liabilities over assets designated to the Closed Block	239		239		251
Amounts included in accumulated other comprehensive income (loss) [Abstract]
Net unrealized investment gains (losses) net of deferred income tax (expense) benefit and policyholder dividend obligation	84		84		87
Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities	323		323		338
Closed Block Operations Revenue [Abstract]
Premiums and other income	73	79	148	160
Closed Block Operations Net Investment Income	100	105	209	212
Total investment gains (losses), net	(5)	(6)	(8)	(10)
Total revenues	168	178	349	362
Closed Block Operations Benefits And Expense [Abstract]
Policyholders benefits and dividends	173	198	325	385
Other operating costs and expenses	0	0	1	0
Total benefits and other deductions	173	198	326	385
Net revenues, before income taxes	(5)	(20)	23	(23)
Income tax (expense) benefit	2	7	(8)	8
Net Revenues	(3)	(13)	15	(15)
Movement In Closed Block Dividend Obligation [Roll Forward]
Balances, beginning of year			373	260
Unrealized investment gains (losses)			(207)	45
Balances, End of year	$ 166	$ 305	$ 166	$ 305

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INCOME TAXES

6 Months Ended

Jun. 30, 2013

Income Taxes [Abstract]

INCOME TAXES

9)INCOME TAXES

Income taxes for the interim periods ended June 30, 2013 and 2012 have been computed using an estimated annual effective tax rate. This rate is revised, if necessary, at the end of each successive interim period to reflect the current estimate of the annual effective tax rate.The tax benefit recognized year-to-date 2013 was limited to the amount that would have been recognized if the year-to-date loss was the anticipated loss for the full year.

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GMDB, GMIB, GWBL AND NO LAPSE GUARANTEE FEATURES

6 Months Ended

Jun. 30, 2013

Gmdb Gmib Gwbl And No Lapse Guarantee Features [Abstract]

GMDB GMIB GWBL AND NO LAPSE GUARANTEE FEATURES

5)GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES

A) Variable Annuity Contracts – GMDB, GMIB, GIB and GWBL and Other Features

The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following:

• Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals);
• Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals);
• Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages;
• Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include a five year or an annual reset; or
• Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life.

The following table summarizes the GMDB and GMIB liabilities, before reinsurance ceded, reflected in the General Account in future policy benefits and other policyholders' liabilities:

		GMDB		GMIB		Total
		(In Millions)
Balance at January 1, 2013		$	1,772	$	4,561	$	6,333
	Paid guarantee benefits		(132)		(26)		(158)
	Other changes in reserve		142		0		142
Balance at June 30, 2013		$	1,782	$	4,535	$	6,317
Balance at January 1, 2012		$	1,593	$	4,130	$	5,723
	Paid guarantee benefits		(128)		(38)		(166)
	Other changes in reserve		174		275		449
Balance at June 30, 2012		$	1,639	$	4,367	$	6,006

Related GMDB reinsurance ceded amounts were:

		Six Months Ended
		June 30,
		2013		2012
		(In Millions)
Balance, beginning of year		$	844	$	716
	Paid guarantee benefits		(59)		(53)
	Other changes in reserve		85		105
Balance, End of Period		$	870	$	768

The GMIB reinsurance contracts are considered derivatives and are reported at fair value.

The June 30, 2013 values for variable annuity contracts in-force on such date with GMDB and GMIB features are presented in the following table. For contracts with the GMDB feature, the net amount at risk in the event of death is the amount by which the GMDB benefits exceed related account values. For contracts with the GMIB feature, the net amount at risk in the event of annuitization is the amount by which the present value of the GMIB benefits exceeds related account values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB guarantees may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive:

			Return
			of
			Premium		Ratchet		Roll-Up		Combo		Total
			(Dollars In Millions)
GMDB:
	Account values invested in:
		General Account	$	13,008	$	232	$	96	$	439	$	13,775
		Separate Accounts	$	32,837	$	7,811	$	3,838	$	36,114	$	80,600
	Net amount at risk, gross		$	481	$	474	$	2,522	$	13,201	$	16,678
	Net amount at risk, net of
		amounts reinsured	$	481	$	289	$	1,696	$	5,168	$	7,634
	Average attained age
		of contractholders		50.7		64.2		69.8		64.9		54.6
	Percentage of contractholders
		over age 70		8.3%		31.0%		51.5%		32.1%		15.3%
	Range of contractually specified
		interest rates		N/A		N/A		3%-6%		3%-6.5%		3%-6.5%
GMIB:
	Account values invested in:
		General Account		N/A		N/A	$	37	$	480	$	517
		Separate Accounts		N/A		N/A	$	2,669	$	47,928	$	50,597
	Net amount at risk, gross			N/A		N/A	$	1,277	$	3,901	$	5,178
	Net amount at risk, net of
		amounts reinsured		N/A		N/A	$	383	$	947	$	1,330
	Weighted average years remaining
		until annuitization		N/A		N/A		0.4		4.0		3.8
	Range of contractually specified
		interest rates		N/A		N/A		3%-6%		3%-6.5%		3%-6.5%

In second quarter 2013, the approach for determining the above noted GMIB net amount at risk has been updated to be more reflective of the economic exposure to the Company. Previously, the calculation used a current annuitization factor based on the retail pricing basis for single-premium individual annuities, including premium loads and interest margins. The updated approach excludes premium loads and interest margins, reducing the June 30, 2013 reported net amount at risk, gross of reinsurance by $3,646 million and the net amount at risk, net of amounts reinsured by $1,015 million.

The liability for GIB and GWBL and other features,not included above, was $130 million and $265 million at June 30, 2013 and December 31, 2012, respectively, which are accounted for as embedded derivatives. This liability reflects the present value of expected future payments (benefits) less the fees attributable to these features over a range of market consistent economic scenarios.

B) Separate Account Investments by Investment Category Underlying GMDB and GMIB Features

The total account values of variable annuity contracts with GMDB and GMIB features include amounts allocated to the guaranteed interest option, which is part of the General Account and variable investment options that invest through Separate Accounts in variable insurance trusts. The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB benefits and guarantees. The investment performance of the assets impacts the related account values and, consequently, the net amount of risk associated with the GMDB and GMIB benefits and guarantees. Since variable annuity contracts with GMDB benefits and guarantees may also offer GMIB benefits and guarantees in each contract, the GMDB and GMIB amounts listed are not mutually exclusive:

Investment in Variable Insurance Trust Mutual Funds
		June 30,		December 31,
		2013		2012
		(In Millions)
GMDB:
	Equity	$	57,647	$	52,633
	Fixed income		3,376		3,748
	Balanced		19,063		19,102
	Other		514		543
	Total	$	80,600	$	76,026
GMIB:
	Equity	$	35,677	$	33,361
	Fixed income		2,052		2,335
	Balanced		12,624		12,906
	Other		244		264
	Total	$	50,597	$	48,866

C) Hedging Programs for GMDB and GMIB Features

Beginning in 2003, AXA Equitable established a program intended to hedge certain risks associated first with the GMDB feature and, beginning in 2004, with the GMIB feature of the Accumulator® series of variable annuity products. The program has also been extended to cover other guaranteed benefits as they have been made available. This program utilizes derivative contracts, such as exchange-traded equity, currency, and interest rate futures contracts, total return and/or equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits' exposures attributable to movements in the equity and fixed income markets. At the present time, this program hedges certain economic risks on products sold, to the extent such risks are not reinsured. At June 30, 2013, the total account value and net amount at risk of the hedged variable annuity contracts were $39,047million and $6,174million, respectively, with the GMDB feature and $22,495million and $947million, respectively, with the GMIB feature.

These programs do not qualify for hedge accounting treatment. Therefore, gains (losses) on the derivatives contracts used in these programs, including current period changes in fair value, are recognized in net investment income (loss) in the period in which they occur, and may contribute to earnings (loss) volatility.

D) Variable and Interest-Sensitive Life Insurance Policies - No Lapse Guarantee

The no lapse guarantee feature contained in variable and interest-sensitive life insurance policies keeps them in force in situations where the policy value is not sufficient to cover monthly charges then due. The no lapse guarantee remains in effect so long as the policy meets a contractually specified premium funding test and certain other requirements.

The following table summarizes the no lapse guarantee liabilities reflected in the General Account in Future policy benefits and other policyholders' liabilities and the related reinsurance ceded:

		Direct		Reinsurance
		Liability		Ceded		Net
		(In Millions)
Balance at January 1, 2013		$	556	$	(310)	$	246
	Other changes in reserves		83		(48)		35
Balance at June 30, 2013		$	639	$	(358)	$	281
Balance at January 1, 2012		$	470	$	(262)	$	208
	Other changes in reserves		50		(23)		27
Balance at June 30, 2012		$	520	$	(285)	$	235

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
STATEMENTS OF CASH FLOWS
Net earnings (loss)	$ (1,902)	$ 895
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities: [Abstract]
Interest credited to policyholders' account balances	632	566
Universal life and investment-type product policy fee income	(1,750)	(1,649)
Net change in broker-dealer and customer related receivables/payables	(1,038)	(179)
(Income) loss related to derivative instruments	1,646	42
Investment (gains) losses, net	50	61
Change in segregated cash and securities, net	717	125
Change in deferred policy acquisition costs	(162)	(47)
Change in future policy benefits	(57)	145
Change in current and deferred income taxes	(1,002)	203
Change in accounts payable and accrued expenses	20	(21)
Change in the fair value of the reinsurance contract asset	2,337	(834)
Amortization of deferred compensation	9	4
Amortization of deferred sales commissions	21	18
Other depreciation and amortization	54	56
Amortization Of Reinsurance Costs	135	(22)
Amortization of other intangibles	12	12
Other, net	36	110
Net cash provided by (used in) operating activities	(242)	(515)
Cash flows from investing activities:
Maturities and repayments of fixed maturities and mortgage loans on real estate	2,057	1,960
Sales of investments	1,967	476
Purchases of investments	(4,935)	(3,619)
Cash settlements related to derivative instruments	(936)	316
Change in short-term investments	(24)	(2)
Investment in capitalized software, leasehold improvements and EDP equipment	(33)	(32)
Other net	8	(71)
Net cash provided by (used in) investing activities	(1,896)	(972)
Cash flows from financing activities:
Policyholders account balances deposits and transfers to Separate Accounts	2,614	2,575
Policyholders account balances withdrawals	(492)	(393)
Change in short-term financings	23	(169)
Change in collateralized pledged assets	(332)	0
Change in collateralized pledged liabilities	(760)	221
Repayment of loans from affiliates	(500)	0
Shareholder dividends paid	0	(181)
Repurchase of AllianceBernstein Holdings units	(27)	(95)
Distribution to non-controlling interests in consolidated subsidiaries	(144)	(96)
Other, net	13	12
Net cash provided by (used in) financing activities	395	1,874
Change in cash and cash equivalents	(1,743)	387
Cash and cash equivalents, beginning of year	3,162	3,227
Cash and Cash Equivalents, End of Period	1,419	3,614
Supplemental Cash Flow Information
Interest Paid	56	54
Income Taxes (Refunded) Paid	$ 156	$ 160

XML

FAIR VALUE DISCLOSURES 5 (DETAILS) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Consolidated Amounts [Abstract]
Mortgage loans on real estate	$ 5,364	$ 5,059
Investment contracts	29,256	28,263
Loans to affiliates	1,035	1,037
Loans from affiliates	825	1,325
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Consolidated Amounts [Abstract]
Mortgage loans on real estate	5,364	5,059
Other limited partnership interests	1,618	1,514
Investment contracts	2,466	2,494
Long-term debt	200	200
Loans to affiliates	1,035	1,037
Loans from affiliates	825	1,325
Portion at Fair Value, Fair Value Disclosure [Member]
Consolidated Amounts [Abstract]
Mortgage loans on real estate	5,502	5,249
Other limited partnership interests	1,618	1,514
Investment contracts	2,557	2,682
Long-term debt	229	236
Loans to affiliates	1,134	1,186
Loans from affiliates	960	1,676
Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member]
Consolidated Amounts [Abstract]
Long-term debt	229	236
Loans to affiliates	734	784
Loans from affiliates	960	1,676
Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value Inputs Level 3 [Member]
Consolidated Amounts [Abstract]
Mortgage loans on real estate	5,502	5,249
Other limited partnership interests	1,618	1,514
Investment contracts	2,557	2,682
Loans to affiliates	$ 400	$ 402

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FAIR VALUE DISCLOSURES (DETAILS) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	$ 31,324	$ 33,631
Trading securities	3,219	2,309
Fair Value, Measurements, Recurring [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	31,300	33,607
Other equity investments	214	155
Trading securities	3,219	2,309
Other invested assets:	414	1,261
Cash equivalents	792	2,289
Segregated securities	835	1,551
GMIB reinsurance contracts	8,707	11,044
Separate Accounts assets	99,666	93,750
Total Assets	145,147	145,966
Liabilities Fair Value Disclosure [Abstract]
Guarantees, Fair Value Disclosure	130	265
Total Liabilities	130	265
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	22,026	23,198
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	5,273	5,180
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	493	530
Fair Value, Measurements, Recurring [Member] | Foreign Government Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	458	530
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	798	900
Fair Value, Measurements, Recurring [Member] | Residential Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	1,023	1,949
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	152	182
Fair Value, Measurements, Recurring [Member] | Redeemable Preferred Stock [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	1,077	1,138
Fair Value, Measurements, Recurring [Member] | Short Term Investments [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	122	98
Fair Value, Measurements, Recurring [Member] | Swap [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	(222)	148
Fair Value, Measurements, Recurring [Member] | Future [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	2	(2)
Fair Value, Measurements, Recurring [Member] | Options Held [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	285	224
Fair Value, Measurements, Recurring [Member] | Interest Rate Floor [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	227	291
Fair Value, Measurements, Recurring [Member] | Swaptions [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	0	502
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	262	248
Other equity investments	153	78
Trading securities	412	446
Other invested assets:	2	(2)
Cash equivalents	792	2,289
Segregated securities	0	0
Separate Accounts assets	96,716	90,751
Total Assets	98,337	93,810
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Corporate Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	6	6
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US Treasury and Government [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Foreign Government Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Commercial Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Residential Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Asset-backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Redeemable Preferred Stock [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	256	242
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Future [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	2	(2)
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	29,851	31,898
Other equity investments	0	0
Trading securities	2,807	1,863
Other invested assets:	412	1,263
Cash equivalents	0	0
Segregated securities	835	1,551
Separate Accounts assets	2,734	2,775
Total Assets	36,639	39,350
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Corporate Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	21,801	22,837
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US Treasury and Government [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	5,273	5,180
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	444	480
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Foreign Government Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	441	511
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Commercial Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	18	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Residential Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	1,017	1,940
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Asset-backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	51	69
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Redeemable Preferred Stock [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	806	881
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Short Term Investments [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	122	98
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Swap [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	(222)	148
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Future [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Options Held [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	285	224
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Floor [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	227	291
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Swaptions [Member]
Investment Fair Value Disclosure [Abstract]
Other invested assets:	0	502
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	1,187	1,461
Other equity investments	61	77
Trading securities	0	0
GMIB reinsurance contracts	8,707	11,044
Separate Accounts assets	216	224
Total Assets	10,171	12,806
Liabilities Fair Value Disclosure [Abstract]
Guarantees, Fair Value Disclosure	130	265
Total Liabilities	130	265
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Corporate Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	219	355
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US Treasury and Government [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	49	50
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Foreign Government Debt Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	17	19
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Commercial Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	780	900
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Residential Mortgage Backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	6	9
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Asset-backed Securities [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	101	113
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Redeemable Preferred Stock [Member]
Investment Fair Value Disclosure [Abstract]
Available-for-sale Securities, Fair Value Disclosure	$ 15	$ 15

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INVESTMENTS (FIXED MATURITIES AVAILABLE FOR SALE) (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Investments, Debt and Equity Securities [Abstract]
Number Of Fixed Maturities In An Unrealized Loss Position Greater Than 12 Months	798		798		402
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	$ 7,495		$ 7,495		$ 1,286
Less Than 12 Months, Gross Unrealized Losses	(464)		(464)		(10)
Greater than 12 Months, Fair Value	723		723		1,379
Greater Than 12 Months, Gross Unrealized Losses	(333)		(333)		(318)
Total, Fair Value	8,218		8,218		2,665
Total, Gross Unrealized Losses	(797)		(797)		(328)
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	30,255		30,255		30,743
Unrealized Gain (Loss) on Investments	375	1,204	375	1,204
The carrying value of fixed maturities non-income producing	22		22
Investment Income Investment Expense	18	13	32	26
Trading Securities, Cost	3,239		3,239		2,265
Trading Securities, Fair Value Disclosure	3,219		3,219		2,309
Separate Account Equity Investment Carrying Value	117		117		58
Separate Account Equity Investment Cost	114		114		57
Equity Securities, Carrying Value	24		24		24
Equity Securities, Amortized Cost	24		24		23
Net Realized and Unrealized Gain (Loss) on Trading Securities	(3)	(16)	18	32
Other Than Investment Grade [Member]
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis Other Than Investment Grade	1,979		1,979		2,095
Percentage Of Available For Sale Securities	6.50%		6.50%		6.80%
Subprime residential mortgage loans [Member]
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Other Investments and Securities, at Cost	14		14		17
Alt residential mortgage loans [Member]
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Other Investments and Securities, at Cost	10		10		11
Corporate Debt Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	3,313		3,313		562
Less Than 12 Months, Gross Unrealized Losses	(161)		(161)		(5)
Greater than 12 Months, Fair Value	98		98		208
Greater Than 12 Months, Gross Unrealized Losses	(10)		(10)		(15)
Total, Fair Value	3,411		3,411		770
Total, Gross Unrealized Losses	(171)		(171)		(20)
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt Securities Exposure In Single Issuer Greater Than Stated Percentage Of Total Investments	0.30%		0.30%
Debt Securities Exposure In Single Issuer Of Total Investments	138		138		138
Available-for-sale Securities, Amortized Cost Basis	20,670		20,670		20,854
US Treasury and Government [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	3,481		3,481		513
Less Than 12 Months, Gross Unrealized Losses	(266)		(266)		(1)
Greater than 12 Months, Fair Value	0		0		0
Greater Than 12 Months, Gross Unrealized Losses	0		0		0
Total, Fair Value	3,481		3,481		513
Total, Gross Unrealized Losses	(266)		(266)		(1)
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	5,420		5,420		4,664
US States and Political Subdivisions Debt Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	20		20		20
Less Than 12 Months, Gross Unrealized Losses	(2)		(2)		0
Greater than 12 Months, Fair Value	0		0		0
Greater Than 12 Months, Gross Unrealized Losses	0		0		0
Total, Fair Value	20		20		20
Total, Gross Unrealized Losses	(2)		(2)		0
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	446		446		445
Foreign Government Debt Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	82		82		6
Less Than 12 Months, Gross Unrealized Losses	(4)		(4)		0
Greater than 12 Months, Fair Value	2		2		2
Greater Than 12 Months, Gross Unrealized Losses	0		0		0
Total, Fair Value	84		84		8
Total, Gross Unrealized Losses	(4)		(4)		0
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	412		412		454
Commercial Mortgage Backed Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	45		45		7
Less Than 12 Months, Gross Unrealized Losses	(17)		(17)		(3)
Greater than 12 Months, Fair Value	507		507		805
Greater Than 12 Months, Gross Unrealized Losses	(312)		(312)		(288)
Total, Fair Value	552		552		812
Total, Gross Unrealized Losses	(329)		(329)		(291)
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	1,113		1,113		1,175
Residential Mortgage Backed Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	47		47		27
Less Than 12 Months, Gross Unrealized Losses	0		0		0
Greater than 12 Months, Fair Value	1		1		1
Greater Than 12 Months, Gross Unrealized Losses	0		0		0
Total, Fair Value	48		48		28
Total, Gross Unrealized Losses	0		0		0
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	980		980		1,864
Asset-backed Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	14		14		8
Less Than 12 Months, Gross Unrealized Losses	0		0		0
Greater than 12 Months, Fair Value	29		29		36
Greater Than 12 Months, Gross Unrealized Losses	(4)		(4)		(5)
Total, Fair Value	43		43		44
Total, Gross Unrealized Losses	(4)		(4)		(5)
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	146		146		175
Redeemable Preferred Stock [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	493		493		143
Less Than 12 Months, Gross Unrealized Losses	(14)		(14)		(1)
Greater than 12 Months, Fair Value	86		86		327
Greater Than 12 Months, Gross Unrealized Losses	(7)		(7)		(10)
Total, Fair Value	579		579		470
Total, Gross Unrealized Losses	(21)		(21)		(11)
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	1,044		1,044		1,089
Fixed Maturities [Member]
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	$ 30,231		$ 30,231		$ 30,720

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SEGMENT INFORMATION (DETAILS) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Segment Reporting Information [Line Items]
Segment revenues	$ 537	$ 6,475	$ 929	$ 5,523
Investment Advisory Fees	16	32	15	29
Segment earnings (loss) from continuing operations, before income taxes	(1,517)	3,826	(3,073)	1,260
Total Assets	176,249		176,249		176,843
Insurance [Member]
Segment Reporting Information [Line Items]
Segment revenues	(194)	5,836	(508)	4,209
Segment earnings (loss) from continuing operations, before income taxes	(1,652)	3,747	(3,334)	1,082
Total Assets	164,575		164,575		164,201
Investment Management [Member]
Segment Reporting Information [Line Items]
Segment revenues	737	646	1,447	1,326
Segment earnings (loss) from continuing operations, before income taxes	136	80	262	179
Total Assets	11,679		11,679		12,647
Consolidation Eliminations [Member]
Segment Reporting Information [Line Items]
Segment revenues	(6)	(7)	(10)	(12)
Segment earnings (loss) from continuing operations, before income taxes	(1)	(1)	(1)	(1)
Total Assets	$ (5)		$ (5)		$ (5)

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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

6 Months Ended

Jun. 30, 2013

Accumulated Other Comprehensive Income Loss [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12)       ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

AOCI represents cumulative gains (losses) on items that are not reflected in earnings (loss). The balances as of June 30,2013 and 2012 follow:

	June 30,
	2013		2012
	(In Millions)
Unrealized gains (losses) on investments	$	375	$	1,204
Defined benefit pension plans		(1,001)		(1,134)
Total accumulated other comprehensive income (loss)		(626)		70
Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest		30		14
Accumulated Other Comprehensive Income (Loss) Attributable to AXA Equitable	$	(596)	$	84

The components of OCI, net-of-taxes for the second quarterand first six months of 2013 and 2012 follow:

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2013		2012		2013		2012
			(In Millions)
Net unrealized gains (losses) on investments:
	Net unrealized gains (losses) arising during the period		$	(1,545)	$	627	$	(1,851)	$	603
	(Gains) losses reclassified into net earnings (loss) during the period(1)			19		21		32		22
Net unrealized gains (losses) on investments				(1,526)		648		(1,819)		625
Adjustments for policyholders' liabilities, DAC, deferred income taxes
	and insurance liability loss recognition			705		(263)		842		(193)
Change in unrealized gains (losses), net of adjustments				(821)		385		(977)		432
Change in defined benefit plans:
	Net gain (loss) arising during the period			25		(27)		-		(52)
	Less: reclassification adjustments to net earnings (loss) for:(2)
		Amortization of net prior service credit included in net periodic cost		55		-		55		-
Change in defined benefit plans(3)				80		(27)		55		(52)
Total other comprehensive income (loss), net of income taxes				(741)		358		(922)		380
Less: Other comprehensive (income) loss attributable
	to noncontrolling interest			5		2		9		1
Other Comprehensive Income (Loss) Attributable to AXA Equitable			$	(736)	$	360	$	(913)	$	381

• See “Reclassification adjustments” in Note 3.
• These AOCI components are included in the computation of net periodic costs (see Note 7).
• In the second quarter of 2013, the Company recorded anout-of-period adjustment of $83 million which reduced the liability for the qualified pension plan and increased OCIby $55 million, net of income taxes of $28 million.

Investment gains and losses reclassified from AOCI to net earnings (loss) primarily consist of realized gains (losses) on sales and OTTI of AFS securities and are included in Total investment gains (losses), net on the consolidated statements of earnings (loss). Amounts reclassified from AOCI to net earnings (loss) as related to defined benefit plans primarily consist of amortizations of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in Compensation and benefit expenses in the consolidated statements of earnings (loss). Amounts presented in the table above are net of tax.

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SHARE-BASED AND OTHER COMPENSATION PROGRAMS

6 Months Ended

Jun. 30, 2013

Shared Based And Other Compensation Programs [Abstract]

SHARE BASED AND OTHER COMPENSATION PROGRAMS

8)SHARE-BASED COMPENSATION PROGRAMS

AXA and AXA Financial sponsor various share-based compensation plans for eligible employees and financial professionals of AXA Financial and its subsidiaries, including the Company. AllianceBernstein also sponsors its own unit option plans for certain of its employees. Activity in these share-based plans in the discussions that follow relates to awards granted to eligible employees of AXA Equitable under each of these plans in the aggregate, except where otherwise noted.

For the second quarter and first six monthsof 2013 and 2012, respectively, the Company recognized compensation costs (credits) of $6 million, $21 million, $(5) million and $16 million for share-based payment arrangementsas further described herein.

On March 22, 2013, under the terms of the 2013 AXA International Performance Share Plan, AXA awarded approximately 2.2 million unearned performance shares to employees of AXA Financial and its subsidiaries. The extent to which 2013-2014 cumulative performance targets measuring the performance of AXA and the insurance related businesses of AXA Financial Group are achieved will determine the number of performance shares earned, which may vary in linear formula between 0% and 130% of the number of performance shares at stake. The performance shares earned during this performance period will vest and be settled on the third anniversary of the award date. The plan will settle in shares to all participants. In the second quarter and first six months of 2013, the Company recognized expensesassociated with the March 22, 2013 grant of performance shares of approximately $1 million and $8 million, respectively.

On March 22, 2013, approximately 457,317 options to purchase AXA ordinary shares were granted to employees of AXA Financial and its subsidiaries under the terms of the Stock Option Plan at an exercise price of 13.81 euros. All of those options have a four-year graded vesting schedule, with one-third vesting on each of the second, third, and fourth anniversaries of the grant date. Approximately 246,000 of the total options awarded on March 22, 2013 are further subject to conditional vesting terms that require the AXA ordinary share price to outperform the Euro Stoxx Insurance Index over a specified period. All of the options granted on March 22, 2013 have a ten-year term. The weighted average grant date fair value per option award was estimated at $1.78 using a Black-Scholes options pricing model with modification to measure the value of the conditional vesting feature. Key assumptions used in the valuation included expected volatility of 31.27%, a weighted average expected term of 7.7 years, an expected dividend yield of 7.52% and a risk-free interest rate of 1.34%. The total fair value of these options (net of expected forfeitures) of $814,431is charged to expense over the shorter of the vesting term or the period up to the date at which the participant becomes retirement eligible. In the second quarter and first six months of 2013, the Company recognized expenses(credits) associated with the March 22, 2013 grant of options of $(152,892) and $297,704, respectively.

On April 4, 2013, cash distributions of approximately $7 million, and share distributions of approximately $49,000 were made to active and former AXA Equitable employees in settlement of 390,460 performance units, representing the remaining 50 percent of the number of performance units earned under the terms of the AXA Performance Unit Plan 2010. The first 50 percent of the performance units earned under the terms of the AXA Performance Unit Plan 2010 were distributed in cash in April 2012.

On March 16, 2012, under the terms of the AXA Miles Program 2012, AXA granted 50 AXA Miles to every employee and eligible financial professional of AXA Group for the purpose of enhancing long-term employee-shareholder engagement. Each AXA Mile represents a phantom share of AXA stock that will convert to an actual AXA ordinary share at the end of a four-year vesting period provided the employee or financial professional remains in the employ of the company or has retired from service.  Half of each AXA Miles grant, or 25 AXA Miles, were subject to an additional vesting conditionthat required improvement in at least one of two AXA performance metrics in 2012 as compared to 2011 and was confirmed to have been achieved. The total fair value of these AXA Miles awards of approximately $6 million, net of expected forfeitures, is charged to expense over the shorter of the service vesting term or the period up to the date at which the participant becomes retirement eligible. In the second quarter and first six months of 2013, the Company recognized expenses associated with the March 16, 2012 grant of AXA Miles of $65,811 and $131,622, respectively.

AllianceBernstein Long-term Incentive Compensation Plans.During the second quarter and firstsix monthsof 2013,AllianceBernstein purchased 0.3million and1.3 million Holding units for $7million and $27 million, respectively. These amounts reflect open-market purchases of 0.3 million and1.1 million Holding units for $7 million and $23 million,respectively, with the remainder relating to purchases of Holding units from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards, offset by Holding units purchased by employees as part of a distribution reinvestment election.

AllianceBernstein granted to employees and Eligible Directors6.8 millionrestricted Holding awards (including 6.5 million restricted Holding units granted in January 2013 for 2012 year-end awards) during the first six months of 2013. To fund theseawards, AllianceBernstein allocated previously repurchased Holding units that had been held in the consolidated rabbi trust. In January 2013, 6.5 million restricted Holding units held in the consolidated rabbi trust, valued at $129 million, were awarded for the 2012 awards. There were approximately 13.1 million unallocated Holding units remaining in the consolidated rabbi trust as of June 30, 2013.

Effective July 1, 2013, management of AllianceBernstein and AllianceBernstein Holding L.P. (“AB Holding”) retired all unallocated Holding units in AllianceBernstein's consolidated rabbi trust. To retire such units, AllianceBernstein delivered the unallocated Holding units held in its consolidated rabbi trust to AB Holding in exchange for the same amount of AllianceBernstein units. Each entity then retired their respective units. As a result, on July 1, 2013, each of AllianceBernstein's and AB Holding's units outstanding decreased by approximately 13.1 million units. AllianceBernstein and AB Holding intend to retire additional units as AllianceBernstein purchases Holding units on the open market. AB Holding will then newly issue Holdingunits to fund AllianceBernstein's restricted Holding unit awards in exchange for newly-issued AllianceBernstein units.Management does not expect AXA Equitable's Consolidated Balance Sheets, Statements of Earnings and Shareholder's Equity to be materially impacted by this transaction.

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NEW ACCOUNTING PRONOUNCEMENTS (POLICIES)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

New Accounting Pronouncements Policy [Policy Text Block]

Adoption of New Accounting Pronouncements

In February 2013, the FASB issued new guidance to improve the reporting of reclassifications out of AOCI. The amendments in this guidance require an entity to report the effect of significant reclassifications out of AOCI on the respective line items in the statement of earnings (loss) if the amount being reclassified is required to be reclassified in its entirety to net earnings (loss). For other amounts that are not required to be reclassified in their entirety to net earnings in the same reporting period, an entity is required to cross-reference other disclosures that provide additional detail about those amounts.The guidance requires disclosure of reclassification information either in the notes or the face of the financial statements provided the information is presented in one location. This guidance was effective for interim and annual periods beginning after December 31, 2012. Implementation of this guidance did not have a material impact on the Company's consolidated financial statements.

In July 2012, the FASB issued new guidance on testing indefinite-lived intangible assets for impairment.  The guidance is intended to reduce the cost and complexity of the annual indefinite-lived intangible assets impairment test by providing entities with the option of performing a "qualitative" assessment to determine whether further impairment testing is necessary. The guidance was effective for annual and interim indefinite-lived intangible assets impairment tests performed for fiscal years beginning after September 15, 2012. Implementation of this guidance did not have a material impact on the Company's consolidated financial statements.

In December 2011, the FASB issued new and enhanced disclosures about offsetting (netting) of financial instruments and derivatives, including repurchase/reverse repurchase agreements and securities lending/borrowing arrangements, to converge with those required by IFRS. The disclosures require presentation in tabular format of gross and net information about assets and liabilities that either are offset (presented net) on the balance sheet or are subject to master netting agreements or similar arrangements providing rights of setoff, such as global master repurchase, securities lending, and derivative clearing agreements, irrespective of whether the assets and liabilities are offset. Financial instruments subject only to collateral agreements are excluded from the scope of these requirements, however, the tabular disclosures are required to include the fair values of financial collateral, including cash, related to master netting agreements or similar arrangements. In January 2013, the FASB issued new guidance limiting the scope of the new balance sheet offsetting disclosures to derivatives, repurchase agreements, and securities lending transactions to the extent that they are (1) offset in the financial statements or (2) subject to an enforceable master netting arrangement or similar agreement. This guidance was effective for interim and annual periods beginning after January 1, 2013 and is to be applied retrospectively to all comparative prior periods presented. Implementation of this guidance did not have a material impact on the Company's consolidated financial statements.

Future Adoption Of New Accounting Pronouncements [Policy Text Block]

Future Adoption of New Accounting Pronouncements

In July 2013, the FASB issued new guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this guidance state that an unrecognized tax benefit, or a portion thereof, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. An exception to this guidance would be where a net operating loss carryforward or similar tax loss or credit carryforward would not be available under the tax law to settle any additional income taxes that would result from the disallowance of a tax position, or the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose. In such a case, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance is effective for interim and annual periods beginning after December 15, 2013. Management will be adopting this presentation as of the effective date. Management does not expect implementation of this guidance will have a material impact on the Company's consolidated financial statements.

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RESTRUCTURING

6 Months Ended

Jun. 30, 2013

Restructuring Charges [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

13)RESTRUCTURING

As part of AXA Equitable's on-going efforts to reduce costs and operate more efficiently, from time to time, management has approved and initiated plans to reduce headcount and relocate certain operations. In the second quarter and first six monthsof 2013 and 2012,respectively, AXA Equitable recorded a $53 million, $74 million, $2 million and $13 million pre-tax charge related to severance and lease costs. The amounts recorded in second quarter and first six months of 2013 included a pre-taxcharge of $52 million related to the reduction in office space in the Company's 1290 Avenue of the Americas New York, NY headquarters.

As a result of AllianceBernstein's ongoing efforts to operate more efficiently, in the second quarter and firstsix monthsof 2013 and 2012, respectively, AllianceBernstein recorded a $3 million, $4 million, $4 million and $17 million pre-tax charge related to severance costs.

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DOCUMENT AND ENTITY INFORMATION	6 Months Ended
	Jun. 30, 2013	Aug. 08, 2013
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2013
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2013
Amendment Flag	false
Entity Registrant Name	AXA EQUITABLE LIFE INSURANCE CO
Entity Central Index Key	0000727920
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well Known Seasoned Issuer	No
Entity Common Stock Shares Outstanding		2,000,000

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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2013

Segment Information [Abstract]

SEGMENT INFORMATION

14)SEGMENT INFORMATION

The following tables reconcile segment revenues and earnings (loss) from continuing operations before income taxes to total revenues and earnings (loss) as reported on the consolidated statements of earnings (loss) and segment assets to total assets on the consolidated balance sheets, respectively.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013			2012
	(In Millions)
Segment revenues:
Insurance	$	(194)	$	5,836	$	(508)	$	4,209
Investment Management(1)		737		646		1,447		1,326
Consolidation/elimination		(6)		(7)		(10)		(12)
Total Revenues	$	537	$	6,475	$	929	$	5,523

• Intersegment investment advisory and other fees of approximately $16 million, $32 million, $15 million and $29 million for the second quarter and firstsix monthsof 2013 and 2012, respectively, are included in total revenues of the Investment Management segment.

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2012		2013			2012
		(In Millions)
Segment earnings (loss) from continuing operations,
	before income taxes:
Insurance		$	(1,652)	$	3,747	$	(3,334)	$	1,082
Investment Management(2)			136		80		262		179
Consolidation/elimination			(1)		(1)		(1)		(1)
Total Earnings (Loss) from Continuing Operations,
	before income taxes	$	(1,517)	$	3,826	$	(3,073)	$	1,260

• Net of interest expense incurred on securities borrowed.

	June 30,		December 31,
	2013		2012
	(In Millions)
Segment assets:
Insurance	$	164,575	$	164,201
Investment Management		11,679		12,647
Consolidation/elimination		(5)		(5)
Total Assets	$	176,249	$	176,843