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RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2012
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 $12 million, $24 million, $13 million and $28 million, respectively, for the second quarter and first six months of 2012 and 2011.

 

AXA Equitable paid $174 million, $366 million, $164 million and $321 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 2012 and 2011. AXA Equitable charged AXA Distribution's subsidiaries $102 million, $207 million, $111 million and $219 million, respectively, for their applicable share of operating expenses for the second quarter and first six months of 2012 and 2011, pursuant to the Agreements for Services.

 

At June 30, 2012 and December 31, 2011, 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 $9,154 million and $8,129 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 second quarter and first six months of 2012 and 2011 related to the UL and no lapse guarantee riders totaled approximately $120 million, $237 million, $120 million and $236 million, respectively. Ceded claims paid in second quarter and first six months of 2012 and 2011 were $19 million, $35 million, $4 million and $13 million, respectively.