<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 0000824036
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 RUSSELL INSURANCE FUNDS
001 B000000 811-5371
001 C000000 2066277001
002 A000000 909 A STREET
002 B000000 TACOMA
002 C000000 WA
002 D010000 98402
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 MULTI-STYLE EQUITY FUND
007 C030100 N
007 C010200 2
007 C020200 AGGRESSIVE EQUITY FUND
007 C030200 N
007 C010300 3
007 C020300 NON-US FUND
007 C030300 N
007 C010400 4
007 C020400 CORE BOND FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
011 A00AA01 RUSSELL FUND DISTRIBUTORS, INC.
011 B00AA01 8-21771
011 C01AA01 TACOMA
011 C02AA01 WA
011 C03AA01 98042
012 A00AA01 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
012 B00AA01 84-01626
012 C01AA01 TACOMA
012 C02AA01 WA
012 C03AA01 98042
013 A00AA01 COOPERS & LYBRAND L.L.P.
<PAGE> PAGE 2
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 FRANK RUSSELL SECURITIES, INC.
014 B00AA01 8-000329
014 A00AA02 RUSSELL FUND DISTRIBUTORS, INC.
014 B00AA02 8-21771
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
015 A00AA02 CITIBANK, N.A., ARGENTINA
015 B00AA02 S
015 C01AA02 BUENOS AIRES
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORPORATION
015 B00AA03 S
015 C01AA03 SYDNEY
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 GIROCREDIT BANK
015 B00AA04 S
015 C01AA04 VIENNA
015 D01AA04 AUSTRIA
015 E04AA04 X
015 A00AA05 STANDARD CHARTERED BANK
015 B00AA05 S
015 C01AA05 DHAKA
015 D01AA05 BANGLADESH
015 E04AA05 X
015 A00AA06 GENERALE BANK
015 B00AA06 S
015 C01AA06 BRUSSELS
015 D01AA06 BELGIUM
015 E04AA06 X
015 A00AA07 BARCLAYS BANK OF BOTSWANA LIMITED
015 B00AA07 S
015 C01AA07 GABORONE
015 D01AA07 BOTSWANA
015 E04AA07 X
015 A00AA08 CITIBANK, N.A., BRAZIL
015 B00AA08 S
015 C01AA08 SAO PAULO
015 D01AA08 BRAZIL
015 E04AA08 X
015 A00AA09 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA09 S
015 C01AA09 TORONTO
<PAGE> PAGE 3
015 D01AA09 CANADA
015 E04AA09 X
015 A00AA10 CITIBANK, N.A., CHILE
015 B00AA10 S
015 C01AA10 SANTIAGO
015 D01AA10 CHILE
015 E04AA10 X
015 A00AA11 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B00AA11 S
015 C01AA11 SHANGHAI
015 D01AA11 CHINA
015 E04AA11 X
015 A00AA12 CITITRUST COLUMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA12 S
015 C01AA12 BOGOTA
015 D01AA12 COLUMBIA
015 E04AA12 X
015 A00AA13 BARCLAYS BANK PLC
015 B00AA13 S
015 C01AA13 NICOSIA
015 D01AA13 CYPRUS
015 E04AA13 X
015 A00AA14 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B00AA14 S
015 C01AA14 PRAGUE
015 D01AA14 CZECH REPUBLIC
015 E04AA14 X
015 A00AA15 DEN DANSKE BANK
015 B00AA15 S
015 C01AA15 COPENHAGEN
015 D01AA15 DENMARK
015 E04AA15 X
015 A00AA16 CITIBANK, N.A., ECUADOR
015 B00AA16 S
015 C01AA16 QUITO
015 D01AA16 ECUADOR
015 E04AA16 X
015 A00AA17 NATIONAL BANK OF EGYPT
015 B00AA17 S
015 C01AA17 CAIRO
015 D01AA17 EGYPT
015 E04AA17 X
015 A00AA18 MERITA BANK LIMITED
015 B00AA18 S
015 C01AA18 HELSINKI
015 D01AA18 FINLAND
015 E04AA18 X
015 A00AA19 BANQUE PARIBAS
015 B00AA19 S
015 C01AA19 PARIS
015 D01AA19 FRANCE
<PAGE> PAGE 4
015 E04AA19 X
015 A00AA20 DRESDNER BANK AG
015 B00AA20 S
015 C01AA20 FRANKFURT
015 D01AA20 GERMANY
015 E04AA20 X
015 A00AA21 BARCLAYS BANK OF GHANA LIMITED
015 B00AA21 S
015 C01AA21 ACCRA
015 D01AA21 GHANA
015 E04AA21 X
015 A00AA22 NATIONAL BANK OF GREECE SA
015 B00AA22 S
015 C01AA22 ATHENS
015 D01AA22 GREECE
015 E04AA22 X
015 A00AA23 STANDARD CHARTERED BANK
015 B00AA23 S
015 C01AA23 HONG KONG
015 D01AA23 HONG KONG
015 E04AA23 X
015 A00AA24 CITIBANK BUDAPEST RT.
015 B00AA24 S
015 C01AA24 BUDAPEST
015 D01AA24 HUNGARY
015 E04AA24 X
015 A00AA25 DEUTSCHE BANK AG
015 B00AA25 S
015 C01AA25 BOMBAY
015 D01AA25 INDIA
015 E04AA25 X
015 A00AA26 STANDARD CHARTERED BANK
015 B00AA26 S
015 C01AA26 JAKARTA
015 D01AA26 INDONESIA
015 E04AA26 X
015 A00AA27 BANK OF IRELAND
015 B00AA27 S
015 C01AA27 DUBLIN
015 D01AA27 IRELAND
015 E04AA27 X
015 A00AA28 BANK HAPOALIM B.M.
015 B00AA28 S
015 C01AA28 TEL AVIV
015 D01AA28 ISRAEL
015 E04AA28 X
015 A00AA29 BANQUE PARIBAS
015 B00AA29 S
015 C01AA29 MILAN
015 D01AA29 ITALY
015 E04AA29 X
<PAGE> PAGE 5
015 A00AA30 SOCIETE GENERALE DE BANQUES EN COTE D IVOIRE
015 B00AA30 S
015 C01AA30 ABIDJAN
015 D01AA30 IVORY COAST
015 E04AA30 X
015 A00AA31 THE DAIWA BANK, LIMITED
015 B00AA31 S
015 C01AA31 TOKYO
015 D01AA31 JAPAN
015 E04AA31 X
015 A00AA32 SUMITOMO TRUST & BANKING CO. LTD.
015 B00AA32 S
015 C01AA32 TOKYO
015 D01AA32 JAPAN
015 E04AA32 X
015 A00AA33 THE FUJI BANK, LIMITED
015 B00AA33 S
015 C01AA33 TOKYO
015 D01AA33 JAPAN
015 E04AA33 X
015 A00AA34 THE BRITISH BANK OF THE MIDDLE EAST
015 B00AA34 S
015 C01AA34 AMMAN
015 D01AA34 JORDAN
015 E04AA34 X
015 A00AA35 BARCLAYS BANK OF KENYA LIMITED
015 B00AA35 S
015 C01AA35 NAIROBI
015 D01AA35 KENYA
015 E04AA35 X
015 A00AA36 SEOULBANK
015 B00AA36 S
015 C01AA36 SEOUL
015 D01AA36 KOREA
015 E04AA36 X
015 A00AA37 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA37 S
015 C01AA37 KUALA LUMPUR
015 D01AA37 MALAYSIA
015 E04AA37 X
015 A00AA38 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA38 S
015 C01AA38 PORT LOUIS
015 D01AA38 MAURITIUS
015 E04AA38 X
015 A00AA39 CITIBANK, N.A., MEXICO
015 B00AA39 S
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015 E04AA39 X
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<PAGE> PAGE 6
015 B00AA40 S
015 C01AA40 CASABLANCA
015 D01AA40 MOROCCO
015 E04AA40 X
015 A00AA41 MEESPIERSON N.V.
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015 E04AA41 X
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015 B00AA42 S
015 C01AA42 WELLINGTON
015 D01AA42 NEW ZEALAND
015 E04AA42 X
015 A00AA43 CHRISTIANIA BANK OF KREDITKASSE
015 B00AA43 S
015 C01AA43 OSLO
015 D01AA43 NORWAY
015 E04AA43 X
015 A00AA44 DEUTSCHE BANK AG, PAKISTAN
015 B00AA44 S
015 C01AA44 KARACHI
015 D01AA44 PAKISTAN
015 E04AA44 X
015 A00AA45 CITIBANK, N.A., PERU
015 B00AA45 S
015 C01AA45 LIMA
015 D01AA45 PERU
015 E04AA45 X
015 A00AA46 STANDARD CHARTERED BANK
015 B00AA46 S
015 C01AA46 MANILA
015 D01AA46 PHILIPPINES
015 E04AA46 X
015 A00AA47 CITIBANK POLAND S.A.
015 B00AA47 S
015 C01AA47 WARSAW
015 D01AA47 POLAND
015 E04AA47 X
015 A00AA48 BANCO COMERCIAL PORTUGUES
015 B00AA48 S
015 C01AA48 LISBON
015 D01AA48 PORTUGAL
015 E04AA48 X
015 A00AA49 CREDIT SUISSE
015 B00AA49 S
015 C01AA49 MOSCOW
015 D01AA49 RUSSIA
015 E04AA49 X
015 A00AA50 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B00AA50 S
<PAGE> PAGE 7
015 C01AA50 SINGAPORE
015 D01AA50 SINGAPORE
015 E04AA50 X
015 A00AA51 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B00AA51 S
015 C01AA51 BRATISLAVA
015 D01AA51 SLOVAK REPUBLIC
015 E04AA51 X
015 A00AA52 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA52 S
015 C01AA52 JOHANNESBURG
015 D01AA52 SOUTH AFRICA
015 E04AA52 X
015 A00AA53 BANCO SANTANDER, S.A.
015 B00AA53 S
015 C01AA53 MADRID
015 D01AA53 SPAIN
015 E04AA53 X
015 A00AA54 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA54 S
015 C01AA54 COLUMBIA
015 D01AA54 SRI LANKA
015 E04AA54 X
015 A00AA55 BARCLAYS BANK OF SWAZILAND LIMITED
015 B00AA55 S
015 C01AA55 MBABANE
015 D01AA55 SWAZILAND
015 E04AA55 X
015 A00AA56 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA56 S
015 C01AA56 STOCKHOLM
015 D01AA56 SWEDEN
015 E04AA56 X
015 A00AA57 UNION BANK OF SWITZERLAND
015 B00AA57 S
015 C01AA57 ZURICH
015 D01AA57 SWITZERLAND
015 E04AA57 X
015 A00AA58 CENTRAL TRUST OF CHINA
015 B00AA58 S
015 C01AA58 TAIPEI
015 D01AA58 TAIWAN
015 E04AA58 X
015 A00AA59 STANDARD CHARTERED BANK
015 B00AA59 S
015 C01AA59 BANGKOK
015 D01AA59 THAILAND
015 E04AA59 X
015 A00AA60 CITIBANK, N.A.
015 B00AA60 S
015 C01AA60 ISTANBUL
<PAGE> PAGE 8
015 D01AA60 TURKEY
015 E04AA60 X
015 A00AA61 STATE STREET BANK AND TRUST CO., LONDON, UK
015 B00AA61 S
015 C01AA61 LONDON
015 D01AA61 ENGLAND
015 E04AA61 X
015 A00AA62 CITIBANK, N.A., URUGUAY
015 B00AA62 S
015 C01AA62 MONTEVIDEO
015 D01AA62 URUGUAY
015 E04AA62 X
015 A00AA63 CITIBANK, N.A., VENEZUELA
015 B00AA63 S
015 C01AA63 CARACAS
015 D01AA63 VENEZUELA
015 E04AA63 X
015 A00AA64 BARCLAYS BANK OF ZAMBIA LIMITED
015 B00AA64 S
015 C01AA64 LUSKA
015 D01AA64 ZAMBIA
015 E04AA64 X
015 A00AA65 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B00AA65 S
015 C01AA65 HARARE
015 D01AA65 ZIMBABWE
015 E04AA65 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 NO TRANSACTIONS OCCURRED DURING 1996
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 NO TRANSACTIONS OCCURRED DURING 1996
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022 D000004 0
<PAGE> PAGE 9
022 C000005 0
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022 C000010 0
022 D000010 0
023 C000000 0
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026 D000000 N
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026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
<PAGE> PAGE 10
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
078 000000 N
080 A00AA00 GULF INSURANCE
080 C00AA00 2950
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084 A00AA00 N
084 B00AA00 0
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085 B00AA00 N
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008 B000101 A
008 C000101 801-17141
008 D010101 TACOMA
008 D020101 WA
008 D030101 98402
008 A000102 CHANCELLOR LGT ASSET MANAGEMENT, INC.
008 B000102 S
008 C000102 801-10254
008 D010102 NEW YORK
008 D020102 NY
008 D030102 10036
008 A000103 EQUINOX CAPITAL MANAGEMENT, INC.
008 B000103 S
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008 D010103 NEW YORK
008 D020103 NY
008 D030103 10022
008 A000104 WESTPEAK INVESTMENT ADVISORS, LP
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008 D010104 BOULDER
008 D020104 CO
008 D030104 80302
024 000100 N
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<PAGE> PAGE 11
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045 000100 N
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<PAGE> PAGE 12
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066 A000100 Y
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066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
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<PAGE> PAGE 13
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 Y
070 Q020100 N
070 R010100 Y
070 R020100 N
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<PAGE> PAGE 14
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<PAGE> PAGE 15
008 D010203 BOULDER
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<PAGE> PAGE 16
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067 000200 N
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<PAGE> PAGE 17
070 I010200 N
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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SIGNATURE KENNETH W. LAMB
TITLE ASSISTANT TREASURER
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