<PAGE>
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
909 A STREET
TACOMA, WA 98402
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:
12/31/98
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
5. Calculation of registration fee:
<TABLE>
<S> <C> <C>
(i) Aggregate sale price of securities
sold during the fiscal year
pursuant to section 24(f): $ 92,335,749
(see attached Exhibit A) --------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(ii) Aggregate price of securities
redeemed or repurchased during the
fiscal year: (see attached Exhibit A) ($ 6,406,120)
--------------
(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
--------------
(iv) Total available redemption credits
[add Items 5(ii) and 5(iii)]:
$ 0
--------------
(v) Net sales -- if Item 5(i) is
greater than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]: $ 85,929,629
--------------
(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 )
--------------
(vii) Multiplier for determining
registration fee (See Instruction
C.9): x .000278
---------------
(viii) Registration fee due [multiply
Item 5(v) by Item 5(vii)] (enter
"0" if no fee is due): =$ 23,888.44
==============
</TABLE>
6. Prepaid Shares
If the response to Item 5(I) was determined by deducting an amount of
securities that were registered under the Securities Act of 1933 pursuant
to rule 24e-2 as in effect before October 11, 1997, then report the amount
of securities (number of shares or other units) deducted here: 0. If there
is a number of shares or other units that were registered pursuant to rule
24e-2 remaining unsold at the end of the fiscal year for which this form is
filed that are available for use by the issuer in future fiscal years, then
state that number here: 0.
7. 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
-------------
<PAGE>
8. Total amount of the registration fee due plus any interest due [Item 5(vii)
plus Item 7]:
$ 23,888.44
==========
9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository: March 4, 1999
Account Number: 0000824036
Method of Delivery:
X Wire transfer
[ ] Mail or other means
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, Assistant Treasurer
-----------------------------------
Rick Chase, Assistant Treasurer
Dated: March 5, 1999
----------------------
* Please print the name and title of the signing officer below the signature.
<PAGE>
24f-2 File 12/98
EXHIBIT A
AGGREGATE SALE PRICE OF SECURITIES SOLD
<TABLE>
<CAPTION>
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 2,867,999 $40,821,643.41 63,764 $ 857,762.55 $41,679,405.96
Aggressive Equity 818,370 $10,356,016.24 87,768 $1,133,444.07 $11,489,460.31
Core Bond 2,300,387 $24,196,485.97 80,458 $ 848,569.45 $25,045,055.42
Non-U.S. 1,311,652 $13,933,668.26 17,903 $ 188,159.40 $14,121,827.66
7,298,409 $89,307,813.88 249,894 $3,027,935.47 $92,335,749.35
==============
</TABLE>
AGGREGATE PRICE OF SECURITIES REDEEMED
<TABLE>
<CAPTION>
FUND AGGREGATE PRICE
NUMBER OF SHARES OF SECURITIES REDEEMED
<S> <C> <C>
Multi-Style Equity (162,445) $(2,378,163.74)
Aggressive Equity (111,078) $(1,344,901.91)
Core Bond (170,785) $(1,792,203.02)
Non-U.S. (83,898) (890,851.28)
(527,706) $(6,406,119.95)
===============
</TABLE>
