Travelers 2009 Annual Report Download - page 198

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
3. INVESTMENTS
Fixed Maturities
The amortized cost and fair value of investments in fixed maturities classified as available for sale
were as follows:
Gross Unrealized
Amortized Fair
(at December 31, 2009, in millions) Cost Gains Losses Value
U.S. Treasury securities and obligations of U.S. Government and
government agencies and authorities . . . . . . . . . . . . . . . . . . . . $ 2,490 $ 85 $ 1 $ 2,574
Obligations of states, municipalities and political subdivisions . . . 39,459 1,915 41 41,333
Debt securities issued by foreign governments . . . . . . . . . . . . . . . 1,912 48 3 1,957
Mortgage-backed securities, collateralized mortgage obligations
and pass-through securities . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,182 190 165 5,207
All other corporate bonds ............................. 14,221 623 116 14,728
Redeemable preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 2 1 48
Total........................................... $63,311 $2,863 $327 $65,847
Gross Unrealized
Amortized Fair
(at December 31, 2008, in millions) Cost Gains Losses Value
U.S. Treasury securities and obligations of U.S. Government and
government agencies and authorities . . . . . . . . . . . . . . . . . . . $ 1,681 $ 160 $ — $ 1,841
Obligations of states, municipalities and political subdivisions . . . 38,598 920 456 39,062
Debt securities issued by foreign governments . . . . . . . . . . . . . . 1,453 67 1 1,519
Mortgage-backed securities, collateralized mortgage obligations
and pass-through securities . . . . . . . . . . . . . . . . . . . . . . . . . . 6,266 157 364 6,059
All other corporate bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,498 121 882 12,737
Redeemable preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 1 17 57
Total .......................................... $61,569 $1,426 $1,720 $61,275
The amortized cost and fair value of fixed maturities by contractual maturity follow. Actual
maturities will differ from contractual maturities because borrowers may have the right to call or
prepay obligations with or without call or prepayment penalties.
Amortized Fair
(at December 31, 2009, in millions) Cost Value
Due in one year or less.............................. $ 4,310 $ 4,368
Due after 1 year through 5 years . . . . . . . . . . . . . . . . . . . . . . . 19,180 20,260
Due after 5 years through 10 years . . . . . . . . . . . . . . . . . . . . . . 17,225 18,074
Due after 10 years.................................. 17,414 17,938
58,129 60,640
Mortgage-backed securities . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,182 5,207
Total.......................................... $63,311 $65,847
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