Travelers 2009 Annual Report Download - page 259
Download and view the complete annual report
Please find page 259 of the 2009 Travelers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
-
249 -
250 -
251 -
252 -
253 -
254 -
255 -
256 -
257 -
258 -
259 -
260 -
261 -
262 -
263 -
264 -
265 -
266 -
267 -
268 -
269 -
270
-
271
-
272
-
273
-
274
-
275
-
276
-
277
-
278
-
279
-
280
-
281
-
282
-
283
-
284
-
285
-
286
-
287
-
288
-
289
-
290
-
291
-
292
-
293
-
294
-
295
 |
 |
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND
SUBSIDIARIES (Continued)
CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2007
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Revenues
Premiums ........................ $14,507 $6,963 $ — $ — $21,470
Net investment income . . . . . . . . . . . . . . 2,553 1,130 78 — 3,761
Fee income....................... 506 2 — — 508
Net realized investment gains . . . . . . . . . . 67 70 17 — 154
Other revenues . . . . . . . . . . . . . . . . . . . . 42 81 12 (11) 124
Total revenues ................... 17,675 8,246 107 (11) 26,017
Claims and expenses
Claims and claim adjustment expenses . . . 8,375 4,022 — — 12,397
Amortization of deferred acquisition costs . 2,437 1,269 — — 3,706
General and administrative expenses . . . . . 2,263 1,039 50 — 3,352
Interest expense . . . . . . . . . . . . . . . . . . . 88 9 260 (11) 346
Total claims and expenses .......... 13,163 6,339 310 (11) 19,801
Income (loss) before income taxes ..... 4,512 1,907 (203) — 6,216
Income tax expense (benefit) . . . . . . . . . . 1,207 455 (47) — 1,615
Equity in net income of subsidiaries . . . . . — — 4,757 (4,757) —
Net income ..................... $ 3,305 $1,452 $4,601 $(4,757) $ 4,601
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Net Realized Investment Gains (Losses)
Other-than-temporary impairment losses:
Total losses . . . . . . . . . . . . . . . . . . . . . . $ (36) $ (34) $— $— $(70)
Portion of losses recognized in
accumulated other changes in equity
from nonowner sources . . . . . . . . . . . — — — — —
Other-than-temporary impairment
losses....................... (36) (34) — — (70)
Other net realized investment gains . . . . . . 103 104 17 — 224
Net realized investment gains ..... $ 67 $ 70 $17 $— $154
(1) The Travelers Companies, Inc., excluding its subsidiaries.
247