Travelers 2010 Annual Report Download - page 195

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
3. INVESTMENTS (Continued)
investment loss by length of time those securities have continuously been in an unrealized loss position
of greater than 20% of amortized cost:
Period For Which Fair Value Is Less Than 80% of Amortized Cost
Greater Than Greater Than
3 Months, 6 Months,
3 Months 6 Months 12 Months Greater Than
(in millions) or Less or Less or Less 12 Months Total
Fixed maturities:
Mortgage-backed securities ............ $— $— $— $ 8 $ 8
Other ........................... 2——1012
Total fixed maturities ............... 2——1820
Equity securities ..................... —————
Total .............................. $ 2 $— $— $18 $20
These unrealized losses at December 31, 2010 represented less than 1% of the combined fixed
maturity and equity security portfolios on a pretax basis and less than 1% of shareholders’ equity on an
after-tax basis.
Impairment Charges
Impairment charges included in net realized investment gains (losses) in the consolidated
statement of income were as follows:
(for the year ended December 31, in millions) 2010 2009 2008
Fixed maturities
U.S. Treasury securities and obligations of U.S. Government and government
agencies and authorities ........................................ $— $— $—
Obligations of states, municipalities and political subdivisions .............. ——1
Debt securities issued by foreign governments ......................... ———
Mortgage-backed securities, collateralized mortgage obligations and
pass-through securities ......................................... 481 36
All other corporate bonds ........................................ 988 283
Redeemable preferred stock ...................................... ——4
Total fixed maturities .......................................... 13 169 324
Equity securities
Common stock ................................................ 215 34
Non-redeemable preferred stock ................................... 164 40
Total equity securities ......................................... 379 74
Other investments ............................................... 10 10 22
Total ...................................................... $26 $258 $420
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