XML 42 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS

Effective February 1, 2018, AXA Equitable entered into a reinsurance agreement to cede 90% of its single premium deferred annuities (SPDA) products issued between 1978-2001 and its Guaranteed Growth Annuity (GGA) single premium deferred annuity products issued between 2001- 2014. As a result of this agreement, AXA Equitable transferred assets with a market value equal to the coinsurance reserves of approximately $635 million.

In March 2018, AXA Equitable Life sold its interest in two real estate joint ventures to AXA France for a total purchase price of approximately $143 million, which resulted in the elimination of $203 million of long-term debt on the Company's balance sheet for the first quarter of 2018.

The restatement of the Company’s 2016 financial statements may cause defaults under certain of AXA Equitable’s derivatives agreements.  AXA Equitable is seeking waivers for these defaults from the relevant counterparties as appropriate.  We do not consider this to have a material impact on our business, results of operations or financial condition.