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<S><C>
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24f-2
READ INSTRUCTIONS AT END OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
1. Name and address of issuer:
RUSSELL INSURANCE FUNDS
2. Name of each series or class of securities for which this Form is
filed (leave this item blank if the Form is being filed for all series
and classes of securities of the issuer):
Multi-Style Equity Fund
Aggressive Equity Fund
Core Bond Fund
Non-US Fund
3. Investment Company Act File Number: 811-5371
Securities Act File Number: 33-18030
4(a). Last day of fiscal year for which this Form is filed:
12/31/97
4(b). / / Check box if this Form is being filed late (I.E., more than
90 days after the end of the issuer's fiscal year). N/A
NOTE: IF THE FORM IS BEING FILED MORE THAN 90 DAYS AFTER THE END OF THE
ISSUER'S FISCAL YEAR, INTEREST MUST BE PAID ON THE REGISTRATION FEE DUE.
4(c). / / Check box if this is the last time the issuer will be filing
this Form. N/A
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5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during
the fiscal year pursuant to section 24(f): $ 82,864,483
(see attached Exhibit B) -------------------
(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: ($ 37,046,979)
(see attached Exhibit B) -------------------
(iii) Aggregate price of securities redeemed or
repurchased during any PRIOR fiscal year
ending no earlier than October 11, 1995
that were not previously used to reduce
registration fees payable to the Commission: $ 0
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(iv) Total available redemption
credits [add Items 5(ii) and 5(iii)]: $ 0
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(v) Net sales -- if Item 5(i) is greater than
Item 5(iv) [subtract Item 5(iv) from Item 5(i)]: $ 45,817,504
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(vi) Redemption credits available for use in future
years -- if Item 5(i) is less than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]: $ ( 0 )
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(vii) Multiplier for determining registration fee
(See Instruction C.8): x .000295
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(viii) Registration fee due [multiply Item 5(v) by
Item 5(vii)] (enter "0" if no fee is due): =$ 13,516.16
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6. Interest due -- if this Form is being filed more than 90 days after
the end of the issuer's fiscal year (see Instruction D):
+$ 0
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7. Total amount of the registration fee due plus any interest
due [Item 5(vii) plus Item 6]:
=$ 0
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8. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository: March 18, 1998
Account Number: 0000824036
Method of Delivery:
/X/ Wire transfer
/ / Mail or other means
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SIGNATURES
This Form has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Rick Chase
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Rick Chase, Assistant Treasurer
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Dated: March 20, 1998
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*Please print the name and title of the signing officer below the signature.
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EXHIBIT B
AGGREGATE SALE PRICE OF SECURITIES SOLD
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SALE PRICE OF AGGREGATE PRICE
FUND NUMBER OF SHARES SECURITIES SOLD NUMBER OF SHARES DOLLARS REINVESTED OF SECURITIES SOLD
(a) (b) [(a)+(b)]
<S> <C> <C> <C> <C> <C>
Multi-Style Equity 3159950.00 $ 35,492,250.00 9,451.00 $ 105,478.00 $ 35,597,728.00
Aggressive Equity 2044963.00 $ 23,639,882.00 4,358.00 $ 44,962.00 $ 23,684,844.00
Core Bond 1210165.00 $ 12,264,143.00 33,875.00 $ 338,625.00 $ 12,602,768.00
Non-U.S. 1090627.00 $ 10,979,143.00 0.00 $ - $ 10,979,143.00
7505705.00 $ 82,375,418.00 47,684.00 $ 489,065.00 $ 82,864,483.00
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AGGREGATE PRICE OF SECURITIES REDEEMED
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AGGREGATE PRICE
FUND NUMBER OF SHARES OF SECURITIES REDEEMED
<S> <C> <C>
Multi-Style Equity (1321868.00) $ (16,557,615.00)
Aggressive Equity (909280.00) $ (11,961,760.00)
Core Bond (430582.00) $ (4,446,701.00)
Non-U.S. (407383.00) $ (4,080,902.00)
(3069113.00) $ (37,046,978.00)
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