Assurant 2014 Annual Report Download - page 114

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ASSURANT, INC. – 2014 Form 10-KF-26
6 Fair Value Disclosures
Financial Assets
December 31, 2013
Total Level 1 Level 2 Level 3
Fixed maturity securities:
United States Government and government agencies and authorities $ 410,656 $ — $ 410,656 $ —
State, municipalities and political subdivisions 835,152 — 812,495 22,657
Foreign governments 675,421 789 657,775 16,857
Asset-backed 6,174 — 6,174 —
Commercial mortgage-backed 60,362 — 59,764 598
Residential mortgage-backed 947,904 — 943,737 4,167
Corporate 8,356,206 — 8,240,862 115,344
Equity securities:
Common stocks 29,232 28,548 684 —
Non-redeemable preferred stocks 429,126 — 421,616 7,510
Short-term investments 470,458 273,518b196,940c—
Collateral held/pledged under securities agreements 74,212 67,202b7,010c—
Other investments 246,748 66,659a175,918c4,171d
Cash equivalents 1,233,701 967,372b266,329c—
Other assets 3,726 — 1,235f2,491e
Assets held in separate accounts 1,887,988 1,696,811a191,177c—
TOTAL FINANCIAL ASSETS $ 15,667,066 $ 3,100,899 $ 12,392,372 $ 173,795
Financial Liabilities
Other liabilities $ 106,992 $ 54,794a$ 31,868g$ 20,330f
Liabilities related to separate accounts 1,887,988 1,696,811a191,177c—
TOTAL FINANCIAL LIABILITIES $ 1,994,980 $ 1,751,605 $ 223,045 $ 20,330
a. Mainly includes mutual funds.
b. Mainly includes money market funds.
c. Mainly includes fixed maturity securities.
d. Mainly includes fixed maturity securities and other derivatives.
e. Mainly includes the Consumer Price Index Cap Derivatives (“CPI Caps”).
f. Mainly includes other derivatives.
g. Mainly includes contingent consideration liability related to a business combination.
There were no transfers between Level 1 and Level 2 fi nancial
assets during 2014 or 2013. However, there were transfers
between Level 2 and Level 3 fi nancial assets in 2014 and 2013,
which are refl ected in the “Transfers in” and “Transfers out”
columns below. Transfers between Level 2 and Level 3 most
commonly occur from changes in the availability of observable
market information and re-evaluation of the observability
of pricing inputs. Any remaining unpriced securities are
submitted to independent brokers who provide non-binding
broker quotes or are priced by other qualifi ed sources.