Travelers 2011 Annual Report Download - page 194

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, 2011, in millions) Cost Gains Losses Value
U.S. Treasury securities and obligations of U.S. government and
government agencies and authorities .................... $ 2,396 $ 101 $— $ 2,497
Obligations of states, municipalities and political subdivisions:
Pre-refunded ..................................... 6,820 513 1 7,332
All other ........................................ 29,391 2,303 4 31,690
Total obligations of states, municipalities and political
subdivisions .................................. 36,211 2,816 5 39,022
Debt securities issued by foreign governments ............... 2,228 91 1 2,318
Mortgage-backed securities, collateralized mortgage obligations
and pass-through securities ........................... 3,288 249 22 3,515
All other corporate bonds ............................. 15,845 1,066 61 16,850
Redeemable preferred stock ........................... 26 4 — 30
Total ......................................... $59,994 $4,327 $89 $64,232
Gross Unrealized
Amortized Fair
(at December 31, 2010, in millions) Cost Gains Losses Value
U.S. Treasury securities and obligations of U.S. government and
government agencies and authorities .................... $ 1,914 $ 94 $ — $ 2,008
Obligations of states, municipalities and political subdivisions:
Pre-refunded ..................................... 6,787 505 1 7,291
All other ........................................ 31,277 1,121 154 32,244
Total obligations of states, municipalities and political
subdivisions .................................. 38,064 1,626 155 39,535
Debt securities issued by foreign governments ............... 2,156 50 4 2,202
Mortgage-backed securities, collateralized mortgage obligations
and pass-through securities ........................... 3,952 248 36 4,164
All other corporate bonds ............................. 14,051 876 51 14,876
Redeemable preferred stock ........................... 33 2 — 35
Total ......................................... $60,170 $2,896 $246 $62,820
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